Aviva plc
Aviva plc provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China. It operates through General Insurance; Insurance, Wealth & Retirement; Aviva Investors; and International Investments segments. The company offers gadget, home, motor, pet…
Aviva plc provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China. It operates through General Insurance; Insurance, Wealth & Retirement; Aviva Investors; and International Investments segments. The company offers gadget, home, motor, pet, and health insurance, as well as commercial, specialty insurance and protection. It also provides life insurance, long-term health and accident insurance, savings, pension, and annuity products, as well as pension fund and lifetime mortgage products; insurance cover to individuals, small and medium-sized businesses for risks associated with motor vehicles and medical expenses, as well as property and liability, such as employers' and professional indemnity liabilities; and personal and commercial lines insurance products for risks associated motor, property, and liability. In addition, the company offers investment management services for institutional pension fund mandates; and manages various retail investment products, including fixed income, equities, multi-asset, real estate and infrastructure for third-party financial institutions, pension funds, public sector organizations, investment professionals, and private investors. It markets its products through a network of insurance brokers, affinity partners, and banks, as well as MyAviva platform price comparison websites. The company was formerly known as CGNU plc and changed its name to Aviva plc in July 2002. Aviva plc was founded in 1696 and is headquartered in London, the United Kingdom.Looks undervalued
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Details and the full model are below.
Market price below modeled range
Showing the EV/EBITDA (12x) you selected on the company card, using 10.85% growth, 2.4% terminal growth and 9.6% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 10.85%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 10.8% (sector default 5.4%, own revenue history 16.3%).
5-year outlook: relative outlook of about 7.3% a year (Medium confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
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Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — GBP 3.84 (-47.4%)
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EPS-based Gordon proxy
— GBP 5.08 (-30.4%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— GBP 14.07 (+92.7%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— GBP 65.03 (+790.8%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear GBP 12.30 | 40.6% |
| Base GBP 14.07 | 48.1% |
| Bull GBP 15.84 | 53.9% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 68 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 4 of 5 years profitable | 16 / 20 |
| Cash generation | free cash flow positive in 3 of 5 years | 12 / 20 |
| Growth | revenue +16.3% a year | 20 / 20 |
| Balance sheet | net cash | 20 / 20 |
| Margins | EBITDA margin 4% | 0 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| AV.L (this company) | GBP 7.30 | -90.0% | 20.4 | 2.2 | 5.9% | 68 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.44 | 68.5% | 3.6 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.88 | 45.6% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.73 | 36.6% | 6.7 | 0.7 | 7.0% | 78 |
| V Visa Inc. | USD 414.00 | 34.6% | 8.7 | – | 0.2% | 100 |
| PRU.L Prudential plc | GBP 9.24 | 34.3% | 8.0 | 1.6 | 1.9% | 78 |
| AGS.BR ageas SA/NV | EUR 76.95 | 33.0% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.86 | 30.3% | 8.2 | 1.3 | 5.0% | 88 |
| ACGL Arch Capital Group | USD 108.49 | 30.3% | 8.5 | 1.6 | 0.1% | 100 |
| Peer median | 8.0 | 1.5 | ||||
Dividends
Paid in the last 12 months: GBP 0.00 per share · yield 0.06% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.004 |
| 2025 | 0.004 |
| 2024 | 0.003 |
| 2023 | 0.003 |
| 2022 | 0.013 |
| 2021 | 0.003 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | GBP 58,510,000,000 |
|---|---|
| EBITDA | GBP 2,559,000,000 |
| EBIT | GBP 2,321,000,000 |
| Net income | GBP 1,033,000,000 |
| Free cash flow | GBP -2,961,000,000 |
| Capital expenditures | GBP 93,000,000 |
| Debt | GBP 8,304,000,000 |
| Cash | GBP 18,289,000,000 |
| Working capital | GBP -106,427,000,000 |
| Shares outstanding | 2,893,000,000 |
| Reported dividends per share | GBP 0.4307 |