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Ageas was spun out of Fortis during the financial crisis after a consortium including Banco Santander and Royal Bank of Scotland launched a failed bid for ABN Amro. The takeover was badly timed and overly ambitious, and to fund it Fortis started selling noncore divisions while writing down collateralized debt. As Fortis’ capital began to decline, the company initiated a rights issue, and the long-held promised dividend was suspended. As Fortis’ share price began to decline and financial market conditions continued to worsen, with a series of leadership changes customers began to withdraw deposits. Fortis was approached by the government and sold its domestic banking operations to the Belgium government. It also spun off its asset management and insurance, which later became Ageas.
1993
17.7K+
LTM Revenue $8.9B
Last FY EBITDA n/a
$15.4B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
ageas has a last 12-month revenue (LTM) of $8.9B and a last 12-month EBITDA of n/a.
In the most recent fiscal year, ageas achieved revenue of $9.5B and an EBITDA of n/a.
ageas expects next 12-month revenue of XXX and NTM EBITDA of XXX
See ageas valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $8.9B | XXX | $9.5B | XXX | XXX | XXX |
| Gross Profit | $8.9B | XXX | n/a | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | n/a | XXX | XXX | XXX |
| EBITDA | n/a | XXX | n/a | XXX | XXX | XXX |
| EBITDA Margin | n/a | XXX | n/a | XXX | XXX | XXX |
| EBIT | $2.0B | XXX | n/a | XXX | XXX | XXX |
| EBIT Margin | 23% | XXX | n/a | XXX | XXX | XXX |
| Net Profit | $1.3B | XXX | $1.3B | XXX | XXX | XXX |
| Net Margin | 15% | XXX | 13% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $2.2B | XXX | XXX | XXX |
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As of May 30, 2025, ageas's stock price is EUR 57 (or $65).
ageas has current market cap of EUR 11.0B (or $12.4B), and EV of EUR 13.7B (or $15.4B).
See ageas trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $15.4B | $12.4B | XXX | XXX | XXX | XXX | $7.85 |
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Start Free TrialAs of May 30, 2025, ageas has market cap of $12.4B and EV of $15.4B.
ageas's trades at 1.6x EV/Revenue multiple, and n/a EV/EBITDA.
Equity research analysts estimate ageas's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ageas has a P/E ratio of 9.3x.
See valuation multiples for ageas and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $12.4B | XXX | $12.4B | XXX | XXX | XXX |
| EV (current) | $15.4B | XXX | $15.4B | XXX | XXX | XXX |
| EV/Revenue | 1.7x | XXX | 1.6x | XXX | XXX | XXX |
| EV/EBITDA | n/a | XXX | n/a | XXX | XXX | XXX |
| EV/EBIT | 7.6x | XXX | n/a | XXX | XXX | XXX |
| EV/Gross Profit | 1.7x | XXX | n/a | XXX | XXX | XXX |
| P/E | 9.3x | XXX | 9.8x | XXX | XXX | XXX |
| EV/FCF | 17.9x | XXX | 21.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free Trialageas's last 12 month revenue growth is 6%
ageas's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged n/a for the same period.
ageas's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ageas's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for ageas and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | n/a | XXX | n/a | XXX | XXX | XXX |
| EBITDA Growth | n/a | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | n/a | XXX | n/a | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | n/a | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | n/a | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| ADNIC | XXX | XXX | XXX | XXX | XXX | XXX |
| Aegon | XXX | XXX | XXX | XXX | XXX | XXX |
| ASR Nederland | XXX | XXX | XXX | XXX | XXX | XXX |
| NN Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Challenger | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ageas acquired XXX companies to date.
Last acquisition by ageas was XXXXXXXX, XXXXX XXXXX XXXXXX . ageas acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was ageas founded? | ageas was founded in 1993. |
| Where is ageas headquartered? | ageas is headquartered in Belgium. |
| How many employees does ageas have? | As of today, ageas has 17.7K+ employees. |
| Who is the CEO of ageas? | ageas's CEO is Mr. Hans De Cuyper. |
| Is ageas publicy listed? | Yes, ageas is a public company listed on BRU. |
| What is the stock symbol of ageas? | ageas trades under AGS ticker. |
| When did ageas go public? | ageas went public in 1990. |
| Who are competitors of ageas? | Similar companies to ageas include e.g. ADNIC, Aegon, ASR Nederland, NN Group. |
| What is the current market cap of ageas? | ageas's current market cap is $12.4B |
| What is the current revenue of ageas? | ageas's last 12 months revenue is $8.9B. |
| What is the current revenue growth of ageas? | ageas revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of ageas? | Current revenue multiple of ageas is 1.7x. |
| Is ageas profitable? | Yes, ageas is EBITDA-positive (as of the last 12 months). |
| What is the current FCF of ageas? | ageas's last 12 months FCF is $857M. |
| What is ageas's FCF margin? | ageas's last 12 months FCF margin is 10%. |
| What is the current EV/FCF multiple of ageas? | Current FCF multiple of ageas is 17.9x. |
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