Munchener Ruckversicherungs-Gesellschaft AG (BUD:MUNICHRE) Scaled Net Operating Assets: 0.13 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BUD:MUNICHRE Munchener Ruckversicherungs-Gesellschaft AG BUD:MUNICHRE
78 GF Score
Price Ft179,100.00
GF Value Ft196,228.43
! 1 Warning Sign
View Full Analysis

What is Munchener Ruckversicherungs-Gesellschaft AG Scaled Net Operating Assets?

Munchener Ruckversicherungs-Gesellschaft AG BUD:MUNICHRE 78 Scaled Net Operating Assets is 0.13 as of Mar. 2026. GuruFocus rates BUD:MUNICHRE with a GF Score™ of 78/100 and a GF Value™ of Ft196,228.43. The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Munchener Ruckversicherungs-Gesellschaft AG's operating assets for the quarter that ended in Mar. 2026 was Ft101,340,068 Mil. Munchener Ruckversicherungs-Gesellschaft AG's operating liabilities for the quarter that ended in Mar. 2026 was Ft87,941,478 Mil. Munchener Ruckversicherungs-Gesellschaft AG's Total Assets for the quarter that ended in Dec. 2025 was Ft103,983,373 Mil. Therefore, Munchener Ruckversicherungs-Gesellschaft AG's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.13.

BUD:MUNICHRE
78GF Score
Munchener Ruckversicherungs-Gesellschaft AG BUD:MUNICHRE
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Munchener Ruckversicherungs-Gesellschaft AG Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Munchener Ruckversicherungs-Gesellschaft AG's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(101939617.691-88807878.81)/95147952.336
=0.14

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=103983372.707 - 2043755.016
=101939617.691

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=91569288.259 - 2761409.449 - 0
=88807878.81

Munchener Ruckversicherungs-Gesellschaft AG's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(101340068.467-87941477.637)/103983372.707
=0.13

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=103393773.371 - 2053704.904
=101340068.467

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=90698576.47 - 2757098.833 - 0
=87941477.637

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.13 mean?
Munchener Ruckversicherungs-Gesellschaft AG (BUD:MUNICHRE) has a Scaled Net Operating Assets of 0.13 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Munchener Ruckversicherungs-Gesellschaft AG and its competitors.
Is Munchener Ruckversicherungs-Gesellschaft AG's Scaled Net Operating Assets too high?
Munchener Ruckversicherungs-Gesellschaft AG's current Scaled Net Operating Assets is 0.13. Overall, Munchener Ruckversicherungs-Gesellschaft AG has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Munchener Ruckversicherungs-Gesellschaft AG's Scaled Net Operating Assets compare to RGA and EG?
Munchener Ruckversicherungs-Gesellschaft AG's Scaled Net Operating Assets of 0.13 can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Insurance company?
A good Scaled Net Operating Assets depends on the Insurance industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Munchener Ruckversicherungs-Gesellschaft AG and its competitors. Munchener Ruckversicherungs-Gesellschaft AG's current Scaled Net Operating Assets is 0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Munchener Ruckversicherungs-Gesellschaft AG stock overvalued right now?
Munchener Ruckversicherungs-Gesellschaft AG (BUD:MUNICHRE) has a current Scaled Net Operating Assets of 0.13. The stock's GF Value™ is Ft196,228.43, compared to a current price of Ft179,100.00 — trading 8.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.13. Munchener Ruckversicherungs-Gesellschaft AG's overall GF Score™ is 78/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Munchener Ruckversicherungs-Gesellschaft AG (BUD:MUNICHRE), the current Scaled Net Operating Assets is 0.13 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Munchener Ruckversicherungs-Gesellschaft AG (BUD:MUNICHRE) Overvalued in 2026?

Based on GuruFocus' analysis, Munchener Ruckversicherungs-Gesellschaft AG stock appears to be undervalued. The current stock price of Ft179,100.00 is trading 8.7% below its estimated GF Value™ of Ft196,228.43.

Key valuation signals for BUD:MUNICHRE:

  • Scaled Net Operating Assets: 0.13
  • GF Value™: Ft196,228.43 vs. price of Ft179,100.00 (8.7% below fair value)
  • GF Score™: 78/100 with 1 warning sign

No single metric tells the full story. See the BUD:MUNICHRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Munchener Ruckversicherungs-Gesellschaft AG Business Description

Address Koniginstrasse 107, Munich, BY, DEU, 80802
Munich Re was founded in 1880 by Carl Thieme amid a flurry of other reinsurance companies set up independent of primaries. In those early days, most reinsurers typically focused on a few strong customers. Thieme focused on a broader set of cedents to drive stronger growth in premiums. This coincided with a strategy of risk diversification and a preference to partner rather than take on a one-sided transfer of risk. In the 1890s, Munich Re introduced the first machinery insurance. After Thieme and Wilhelm von Fink founded Allianz, this was the main channel to sell machinery insurance. We believe the approach of partnering with insurers and preferring to avoid one-sided risk, in conjunction with combining inspection and insurance services, remains at the heart of the firm.
78GF Score

Get the complete analysis for BUD:MUNICHRE

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Ft179,100.00
Price
Ft196,228.43
GF Value