A Business at a Glance
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Chubb Ltd
CB
$144.4B
Mkt Cap
$359.75
+1.84%
Chubb Ltd (CB) has a current P/E ratio of 14.0, compared to its historical median P/E of 13.1. The stock is currently considered Fair based on its historical valuation range.
Chubb Ltd (CB) has a 5-year average return on invested capital (ROIC) of 11.2%. This indicates solid capital allocation.
Chubb Ltd (CB) has a market capitalization of $139.5B. It is classified as a large-cap stock.
Yes, Chubb Ltd (CB) pays a dividend with a trailing twelve-month yield of 1.09%. The company also returns capital through share buybacks, with a buyback yield of 2.99%.
Based on historical P/E analysis, Chubb Ltd (CB) appears fair. The current P/E of 14.0 is 7% above its historical median of 13.1. The estimated fair value CAGR (P/E method) is 19.0%.
Chubb Ltd (CB) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
Chubb Ltd (CB) reported annual revenue of $59.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Chubb Limited is a global property and casualty (P&C) insurance and reinsurance company headquartered in Zurich, Switzerland, with operations in 54 countries and territories and total assets of $272 billion as of December 31, 2025. The company operates through six business segments: North America Commercial P&C Insurance (38% of 2025 consolidated net premiums earned), North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance, generating earnings from P&C underwriting income, investment income, and life segment income. Chubb's business model emphasizes disciplined underwriting and risk selection over volume, distributing commercial and consumer P&C insurance, accident and health, and life insurance through insurance brokers, agents, and digital platforms to multinational corporations, mid-market and small businesses, affluent individuals, and affinity groups. The company's competitive advantages include product and geographic diversification, superior claims service through in-house operations like ESIS, a strong balance sheet with substantial capital, and deep underwriting expertise across specialty lines including Directors & Officers, financial lines, aviation, energy, and complex casualty coverages. Chubb has expanded through acquisitions including Cigna's Asian A&H business in 2022 and a controlling majority interest in Huatai Insurance Group (87.2% ownership as of December 31, 2025), a Chinese financial services holding company with P&C, life, and asset management operations.
【Strong underwriting discipline and growth】 Management expects the company's pattern of growth in revenue and earnings to continue, supported by disciplined underwriting and pricing discipline across commercial and personal lines. The company anticipates double-digit growth in earnings per share, book value, and tangible book value, with core operating return on equity expected to increase to 14% or more over the medium term. Management expects adjusted net investment income to grow as the invested asset base expands, with guidance for Q1 2026 between $1.81–$1.84 billion, and continues to target raising private assets from 12% to 15% of investments over the medium term. The company remains focused on maintaining superior underwriting margins while managing competitive pressures in certain markets, particularly in middle market property where rates continue to rise but at a slower pace, and expects to continue generating superior margin and earnings growth through disciplined capital deployment and operational leverage.
| Metric | Target | Period |
|---|---|---|
| Core operating effective tax rate | 19.5%-20% | FY2026 |
Core operating effective tax rate (FY2026): “We expect our annual core operating effective tax rate for 2026 to be in the range of 19.5%-20%.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: FY2026 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 60.8B | 59.4B | 55.8B | 49.7B | 43.1B | 41.0B |
| Net Income | 11.3B | 10.3B | 9.3B | 9.0B | 5.2B | 8.5B |
| EPS | $28.77 | $25.68 | $22.70 | $21.80 | $12.39 | $19.27 |
| Free Cash Flow | 0 | 12.8B | 16.2B | 12.6B | 11.3B | 11.1B |
| ROIC | 12.6% | 12.3% | 11.8% | 12.4% | 8.1% | 11.4% |
| Gross Margin | - | 22.0% | 20.5% | 19.2% | 15.0% | 24.0% |
| Debt/Equity | 0.24 | 0.23 | 0.24 | 0.24 | 0.29 | 0.27 |
| Dividends/Share | $3.92 | $3.82 | $3.59 | $3.41 | $3.29 | $3.16 |
| Operating Income | 1.4B | 1.3B | 1.0B | 836M | 6.5B | 2.4B |
| Operating Margin | 2.3% | 2.2% | 1.8% | 1.7% | 15.0% | 5.8% |
| ROE | 15.3% | 15.0% | 14.5% | 15.2% | 10.4% | 14.3% |
| Shares Outstanding | 388M | 401M | 408M | 414M | 423M | 443M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 19.2B | 19.0B | 31.5B | 32.2B | 32.7B | 34.2B | 36.0B | 41.0B | 43.1B | 49.7B | 55.8B | 59.4B | 60.8B |
| Gross Margin | 18.2% | 17.4% | 15.7% | 11.5% | 14.2% | 15.4% | 11.6% | 24.0% | 15.0% | 19.2% | 20.5% | 22.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 2.2B | 2.3B | 3.1B | 2.8B | 2.9B | 3.0B | 3.0B | 3.1B | 3.4B | 4.0B | 4.4B | 4.5B | 4.6B |
| EBIT | 3.5B | 3.3B | 222M | 400M | 434M | 596M | 994M | 2.4B | 6.5B | 836M | 1.0B | 1.3B | 1.4B |
| Op. Margin | 18.2% | 17.4% | 0.7% | 1.2% | 1.3% | 1.7% | 2.8% | 5.8% | 15.0% | 1.7% | 1.8% | 2.2% | 2.3% |
| Net Income | 2.9B | 2.8B | 4.1B | 3.9B | 4.0B | 4.5B | 3.5B | 8.5B | 5.2B | 9.0B | 9.3B | 10.3B | 11.3B |
| Net Margin | 14.9% | 14.9% | 13.1% | 12.0% | 12.1% | 13.0% | 9.8% | 20.8% | 12.2% | 18.2% | 16.6% | 17.4% | 18.6% |
| Non-Recurring | 0 | 0 | 111M | 46M | 52M | 90M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.7% | 7.4% | 6.8% | 6.2% | 6.3% | 6.5% | 4.7% | 11.4% | 8.1% | 12.4% | 11.8% | 12.3% | 12.6% |
| ROE | 9.8% | 9.7% | 8.6% | 7.5% | 7.9% | 8.0% | 5.9% | 14.3% | 10.4% | 15.2% | 14.5% | 15.0% | 15.3% |
| ROA | 3.0% | 2.8% | 2.6% | 2.3% | 2.4% | 2.5% | 1.9% | 4.3% | 2.6% | 3.9% | 3.8% | 4.0% | 4.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 4.5B | 3.9B | 5.3B | 4.5B | 5.5B | 6.3B | 9.8B | 11.1B | 11.3B | 12.6B | 16.2B | 12.8B | 15.2B |
| Free Cash Flow | 4.5B | 3.9B | 5.3B | 4.5B | 5.5B | 6.3B | 9.8B | 11.1B | 11.3B | 12.6B | 16.2B | 12.8B | 0 |
| Owner Earnings | 4.3B | 3.6B | 5.1B | 4.1B | 5.0B | 5.8B | 9.4B | 10.6B | 10.7B | 12.1B | 15.5B | 12.2B | 14.5B |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 108M | 171M | 19M | 260M | 339M | 305M | 290M | 287M | 285M | 310M | 323M | 301M | 301M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 108M | 171M | 19M | 260M | 339M | 305M | 290M | 287M | 285M | 310M | 323M | 301M | 301M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 862M | 862M | 1.2B | 1.3B | 1.3B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.5B | 1.5B |
| Dividend Yield | 3.1% | 2.9% | 2.4% | 2.3% | 2.4% | 2.2% | 2.5% | 2.0% | 1.7% | 1.7% | 1.3% | 1.3% | 1.1% |
| Share Buybacks | 1.4B | 758M | 0 | 801M | 1.0B | 1.5B | 523M | 4.9B | 2.9B | 2.4B | 1.8B | 3.7B | 4.2B |
| Buyback Yield | 4.5% | 2.3% | N/A | 1.3% | 2.0% | 2.4% | 0.8% | 6.0% | 3.2% | 2.6% | 1.6% | 2.9% | 3.0% |
| Stock-Based Comp | 127M | 131M | 167M | 151M | 115M | 204M | 145M | 300M | 264M | 212M | 356M | 327M | 347M |
| Debt Repayment | 501M | 1.1B | 0 | 501M | 2.0B | 510M | 1.3B | 0 | 1.0B | 475M | 1.4B | 800M | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -44.1B | -36.0B | -68.0B | -67.1B | -67.1B | -72.2B | -77.5B | -78.6B | -72.5B | -94.7B | -97.7B | -107.9B | 9.8B |
| Cash & Equiv. | 655M | 1.8B | 985M | 728M | 1.2B | 1.5B | 1.7B | 1.7B | 2.1B | 2.6B | 2.5B | 2.5B | 7.7B |
| Long-Term Debt | 3.4B | 9.4B | 12.6B | 11.6B | 12.1B | 13.6B | 14.9B | 15.2B | 14.4B | 13.0B | 14.4B | 15.7B | 16.0B |
| Debt/Equity | 0.20 | 0.32 | 0.27 | 0.25 | 0.25 | 0.27 | 0.25 | 0.27 | 0.29 | 0.24 | 0.24 | 0.23 | 0.24 |
| Interest Coverage | 12.5 | 11.0 | 0.4 | 0.7 | 0.7 | 1.1 | 1.9 | 4.8 | 11.4 | 1.2 | 1.4 | 1.7 | 1.8 |
| Equity | 29.6B | 29.1B | 48.3B | 51.2B | 50.3B | 55.3B | 59.4B | 59.7B | 50.5B | 59.5B | 64.0B | 73.8B | 73.8B |
| Total Assets | 98.2B | 102.3B | 159.8B | 167.0B | 167.8B | 176.9B | 190.8B | 200.1B | 199.0B | 230.7B | 246.5B | 272.3B | 275.5B |
| Total Liabilities | 68.7B | 73.2B | 111.5B | 115.8B | 117.5B | 121.6B | 131.3B | 140.3B | 148.5B | 167.0B | 178.2B | 192.5B | 195.5B |
| Intangibles | 0 | 887M | 6.8B | 6.5B | 6.1B | 6.1B | 5.8B | 5.5B | 5.4B | 6.8B | 6.4B | 6.2B | 6.2B |
| Retained Earnings | 16.6B | 19.5B | 23.6B | 27.5B | 31.7B | 36.1B | 39.3B | 47.4B | 48.3B | 54.8B | 61.6B | 70.0B | 68.8B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 8.42 | 8.62 | 8.87 | 8.19 | 8.49 | 9.71 | 7.79 | 19.27 | 12.39 | 21.80 | 22.70 | 25.68 | 28.77 |
| Owner EPS | 12.58 | 10.83 | 10.95 | 8.68 | 10.77 | 12.72 | 20.62 | 23.84 | 25.29 | 29.24 | 37.95 | 30.36 | 37.51 |
| Book Value | 87.32 | 88.62 | 103.55 | 108.55 | 107.81 | 120.63 | 131.06 | 134.76 | 119.32 | 143.69 | 156.74 | 183.71 | 190.24 |
| Cash Flow/Share | 13.27 | 11.75 | 11.35 | 9.55 | 11.74 | 13.83 | 21.58 | 25.16 | 26.59 | 30.50 | 39.62 | 31.92 | 29.91 |
| Dividends/Share | 2.70 | 2.66 | 2.52 | 2.77 | 2.87 | 2.95 | 3.06 | 3.16 | 3.29 | 3.41 | 3.59 | 3.82 | 3.92 |
| Shares Out. | 338.8M | 328.8M | 466.2M | 471.4M | 466.7M | 458.7M | 453.5M | 443.1M | 423.4M | 414.1M | 408.5M | 401.5M | 387.9M |
| Valuation | |||||||||||||
| P/E Ratio | 11.3 | 11.4 | 12.7 | 15.5 | 13.4 | 14.6 | 18.2 | 9.5 | 17.1 | 10.1 | 12.2 | 12.2 | 12.5 |
| P/FCF | 7.1 | 8.4 | 9.9 | 13.3 | 9.7 | 10.2 | 6.6 | 7.3 | 8.0 | 7.2 | 7.0 | 9.8 | N/A |
| EV/EBIT | 177.0 | 8.2 | 278.1 | 170.8 | 141.6 | 124.1 | 73.5 | 39.2 | 13.8 | 117.8 | 117.5 | 104.7 | 108.6 |
| Price/Book | 1.1 | 1.1 | 1.1 | 1.2 | 1.1 | 1.2 | 1.1 | 1.4 | 1.8 | 1.5 | 1.8 | 1.7 | 1.9 |
| Price/Sales | 1.5 | 1.6 | 1.5 | 1.8 | 1.7 | 1.8 | 1.5 | 1.7 | 1.9 | 1.7 | 1.9 | 1.9 | 2.3 |
| FCF Yield | 14.0% | 12.0% | 10.1% | 7.5% | 10.3% | 9.8% | 15.2% | 13.7% | 12.5% | 13.9% | 14.4% | 10.2% | N/A |
| Market Cap | 32.1B | 32.3B | 52.6B | 60.0B | 53.1B | 64.9B | 64.2B | 81.3B | 89.7B | 91.1B | 112.7B | 125.9B | 139.5B |
| Avg. Price | 83.14 | 90.03 | 103.76 | 122.43 | 119.10 | 131.37 | 120.50 | 161.61 | 192.34 | 200.88 | 261.55 | 282.34 | 359.75 |
| Year-End Price | 94.73 | 98.24 | 112.88 | 127.33 | 113.82 | 141.58 | 141.53 | 183.48 | 211.90 | 220.04 | 275.88 | 313.47 | 359.75 |
Chubb Ltd passes 6 of 9 quality checks, suggesting mixed fundamentals.
Chubb Ltd trades at 14.0x trailing earnings, compared to its 15-year median P/E of 13.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.3x vs a median of 8.8x. The company's 5-year average ROIC is 11.2% with a gross margin of 20.1%. Total shareholder yield (dividends + buybacks) is 4.1%. At current prices, the estimated annualized return to fair value is +16.3%.
Chubb Ltd (CB) has a net profit margin of 17.4%. This is a healthy margin.
Chubb Ltd (CB) generated $12.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Chubb Ltd (CB) has a debt-to-equity ratio of 0.23. This indicates a conservatively financed balance sheet.
Chubb Ltd (CB) reported earnings per share (EPS) of $25.68 in its most recent fiscal year.
Chubb Ltd (CB) has a return on equity (ROE) of 15.0%. This indicates moderate shareholder returns.
Chubb Ltd (CB) has a 5-year average gross margin of 20.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for Chubb Ltd (CB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Chubb Ltd (CB) has a book value per share of $183.71, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects the company's pattern of growth in revenue and earnings to continue, supported by disciplined underwriting and pricing discipline across commercial and personal lines. The company anticipates double-digit growth in earnings per share, book value, and tangible book value, with core operating return on equity expected to increase to 14% or more over the medium term. Management expects adjusted net investment income to grow as the invested asset base expands, with guidance for Q1 2026 between $1.81–$1.84 billion, and continues to target raising private assets from 12% to 15% of investments over the medium term. The company remains focused on maintaining superior underwriting margins while managing competitive pressures in certain markets, particularly in middle market property where rates continue to rise but at a slower pace, and expects to continue generating superior margin and earnings growth through disciplined capital deployment and operational leverage.
Based on recent SEC filings and earnings calls, Chubb Ltd (CB) has provided the following forward guidance: Core operating effective tax rate: 19.5%-20% (FY2026).
No recent press releases.