Chubb (CB)
Financials · $141B market cap · SEC CIK 0000896159
ahead of 86% of the S&P 500 · #14 of 76 in Financials
Next reports on Feb 1, 2027, after the close, with analysts expecting $7.58 in earnings per share.
52-week range $282.99 to $384.26. 4% below its 52-week high and 30% above its low.
The case for CB
- Cheap for its growth: 12.6× earnings, where 10%+ a year of growth plus a 1.5% dividend would justify about 25×.
- Has compounded revenue at 10.5% a year over five years.
- Return on equity of 15%.
- Moves less than the market (beta 0.28).
- Pays a modest 1.5% dividend.
The case against
- Weakest against its peers: revenue growth of +5.7% is slower than 72% of Financials companies.
- Its weakest area is profitability (53/100): return on equity 15%, net margin 18.1%.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings and cash, against the growth you get | 65 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 70 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 53 |
| Momentumhow the price has behaved lately | 73 |
| Stabilityhow violently it moves, what it owes and what it pays you | 81 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 76 Financials companies.
The financials
Revenue growth
Is the business growing? Slowly
| Last 12 months | +5.7% |
|---|---|
| Over 5 years | +10.5% a year |
| FY2025 revenue | $59.4B (+7%) |
Free cash flow
Is it generating real cash? Not meaningful for a financial company
Profit margins
Is profitability improving? Yes, improving
| Gross margin | n/a |
|---|---|
| Operating margin | 22% |
| Net margin, FY24 → FY25 → now | 16.6% → 17.4% → 18.1% |
Debt vs. cash
Is the balance sheet healthy? Not judged for a financial company
| Cash | $2.5B |
|---|---|
| Long-term debt | $15.7B |
| Net debt | $13.3B |
Valuation
Is the stock price reasonable? Yes, it looks cheap
| P/E | 12.6× |
|---|---|
| Fair P/E for its growth | 25× |
| Price / book | 1.70× |
| Fair P/B for its ROE | 1.5× |
| Forward P/E | 12.4× |
| EV / EBITDA | 9.8× |
At 12.6× earnings it trades well below the 25× that 10%+ a year of growth plus a 1.5% dividend would justify. At 1.70× book it trades close to the 1.5× that its 15% return on equity would justify; for a financial company that counts for more than earnings.
The financials, five years deep
Pulled from Chubb's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue growth | |||||
| Revenue | $59.4B | $55.8B | $49.7B | $43.1B | $40.9B |
| Change on the year | +7% | +12% | +15% | +5% | — |
| Profit margins | |||||
| Net margin | 17.4% | 16.6% | 18.2% | 12.2% | 20.9% |
| Debt vs. cash | |||||
| Cash | $2.5B | $2.5B | $2.6B | $2.0B | $1.7B |
| Long-term debt | $15.7B | $14.4B | $13.0B | $14.4B | $15.2B |
| Net cash (debt) | −$13.3B | −$11.8B | −$10.4B | −$12.4B | −$13.5B |
What Chubb says it does
Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Companies. Chubb Limited, which is headquartered in Zurich, Switzerland, and its direct and indirect subsidiaries (collectively, the Chubb Group of Companies, Chubb, we, us, or our) are a global insurance and reinsurance organization, serving the needs of a diverse group of clients worldwide. At December 31, 2025, we had total assets of $272 billion and total shareholders’ equity, of $74 billion (excluding noncontrolling interests). Chubb was incorporated in 1985 at which time it opened its first business office in Bermuda and continues to maintain operations in Bermuda. We have grown our business through increased premium volume, expansio n of product offerings and geographic reach, and the acquisition of other companies, to become a global property and casualty (P&C) leader. We expanded our personal accident and supplemental health (A&H), and life insurance…