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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 67GRADE B
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
12.5%
Sector: 8.5%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, Chubb Ltd (CB) receives a "Buy" rating with a composite score of 58.9/100, ranked #9 out of 4446 stocks. Key factor scores: Quality 67/100, Value 71/100, Momentum 52/100. This is quantitative analysis only — not investment advice.
Chubb Ltd (CB) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Chubb Ltd Do?
Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses. Its North America Personal P&C Insurance segment provides affluent and high net worth individuals and families with homeowners, automobile and collector cars, valuable articles, personal and excess liability, travel insurance, and recreational marine insurance and services. The company's North America Agricultural Insurance segment offers multiple peril crop and crop-hail insurance; and coverage for farm and ranch property, and commercial agriculture products. Its Overseas General Insurance segment provides coverage for traditional commercial property and casualty; specialty categories, such as financial lines, marine, energy, aviation, political risk, and construction risk; and group accident and health, and traditional and specialty personal lines for corporations, middle markets, and small customers through retail brokers, agents, and other channels. The company's Global Reinsurance segment offers traditional and specialty reinsurance under the Chubb Tempest Re brand to property and casualty companies. Its Life Insurance segment provides protection and savings products comprising whole life, endowment plans, individual term life, group term life, medical and health, personal accident, credit life, universal life, and unit linked contracts. The company markets its products primarily through insurance and reinsurance brokers. The company was formerly known as ACE Limited and changed its name to Chubb Limited in January 2016. Chubb Limited was incorporated in 1985 and is headquartered in Zurich, Switzerland. Chubb Ltd (CB) is classified as a large-cap stock in the Financials sector, specifically within the Insurance industry. The company is led by CEO Evan G. Greenberg and employs approximately 34,000 people. With a market capitalization of $128.0B, CB is one of the prominent companies in the Financials sector.
Chubb Ltd (CB) Stock Rating — Buy (April 2026)
As of April 2026, Chubb Ltd receives a Buy rating with a composite score of 58.9/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.CB ranks #9 out of 4,446 stocks in our coverage universe. Within the Financials sector, Chubb Ltd ranks #7 of 891 stocks, placing it in the top 10% of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
CB Stock Price and 52-Week Range
Chubb Ltd (CB) currently trades at $327.91. The stock lost $5.03 (1.5%) in the most recent trading session. The 52-week high for CB is $342.69, which means the stock is currently trading -4.3% from its annual peak. The 52-week low is $264.10, putting the stock 24.2% above its annual trough. Recent trading volume was 1.3M shares, reflecting moderate market activity.
Is CB Overvalued or Undervalued? — Valuation Analysis
Chubb Ltd (CB) carries a value factor score of 71/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 12.80x, compared to the Financials sector average of 14.88x — a discount of 14%. The price-to-book ratio stands at 1.59x, versus the sector average of 1.22x. The price-to-sales ratio is 2.15x, compared to 0.90x for the average Financials stock. On an enterprise value basis, CB trades at 11.65x EV/EBITDA, versus 3.26x for the sector.
Based on these multiples, Chubb Ltd appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
Chubb Ltd Profitability — ROE, Margins, and Quality Score
Chubb Ltd (CB) earns a quality factor score of 67/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 12.5%, compared to the Financials sector average of 8.5%, which is within a healthy range. Return on assets (ROA) comes in at 3.6% versus the sector average of 1.2%.
On a margin basis, Chubb Ltd reports gross margins of 0.0%. The operating margin is 20.4% (sector: 21.8%). Net profit margin stands at 16.6%, versus 17.7% for the average Financials stock. Revenue growth is running at 15.6% on a trailing basis, compared to 9.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
CB Debt, Balance Sheet, and Financial Health
Chubb Ltd has a debt-to-equity ratio of 20.0%, compared to the Financials sector average of 121.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 1.41x, suggesting adequate working capital coverage. Total debt on the balance sheet is $15.73B.
CB has a beta of 0.25, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Chubb Ltd is 95/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
Chubb Ltd Revenue and Earnings History — Quarterly Trend
In TTM 2026, Chubb Ltd reported revenue of $59.19B and earnings per share (EPS) of $25.93. Net income for the quarter was $9.94B. Gross margin was 0.0%. Operating income came in at $12.27B.
In FY 2025, Chubb Ltd reported revenue of $59.40B and earnings per share (EPS) of $25.93. Net income for the quarter was $10.62B. Revenue grew 6.5% year-over-year compared to FY 2024. Operating income came in at $13.04B.
In Q3 2025, Chubb Ltd reported revenue of $16.15B and earnings per share (EPS) of $7.05. Net income for the quarter was $3.11B. Revenue grew 8.7% year-over-year compared to Q3 2024. Operating income came in at $3.89B.
In Q2 2025, Chubb Ltd reported revenue of $14.84B and earnings per share (EPS) of $7.42. Net income for the quarter was $3.00B. Revenue grew 6.2% year-over-year compared to Q2 2024. Operating income came in at $3.72B.
Over the past 8 quarters, Chubb Ltd has demonstrated a growth trajectory, with revenue expanding from $13.97B to $59.19B. Investors analyzing CB stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
CB Dividend Yield and Income Analysis
Chubb Ltd (CB) does not currently pay a dividend. This is common among growth-oriented companies in the Insurance industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.
CB Momentum and Technical Analysis Profile
Chubb Ltd (CB) has a momentum factor score of 52/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 27/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 30/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
CB vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing CB against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CB vs S&P 500 (SPY) comparison to assess how Chubb Ltd stacks up against the broader market across all factor dimensions.
CB Next Earnings Date
No upcoming earnings date has been announced for Chubb Ltd (CB) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy CB? — Investment Thesis Summary
The bull case for Chubb Ltd rests on several quantitative strengths. The quality score of 67/100 indicates above-average profitability and business fundamentals. The value score of 71/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 95/100) reduces downside risk.
In summary, Chubb Ltd (CB) earns a Buy rating with a composite score of 58.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CB stock.
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Institutional Research Dossier
Chubb Ltd (CB) Deep Dive Analysis
Published on March 24, 2026
Action RatingBuy
Sections
Executive Summary
We maintain a Buy rating on Chubb (CB), driven by its consistent underwriting profitability, diversified business model, and strong capital management. The company's ability to generate superior returns on equity compared to its peers, coupled with a relatively attractive valuation, makes it a compelling investment. While free cash flow generation has been negative recently, we believe this is temporary and that Chubb's core insurance operations will continue to produce substantial cash flow over the long term.
Chubb's disciplined underwriting, focus on high-net-worth individuals, and global reach provide a significant competitive advantage. The company's stability, as reflected in its high Stability score, is particularly attractive in the current economic environment. Investors should focus on Chubb's ability to maintain its underwriting discipline and capitalize on growth opportunities in emerging markets and specialty lines of business.
Business Strategy & Overview
Chubb operates as a global insurance and reinsurance provider, offering a diverse range of products across property and casualty (P&C), accident and health (A&H), and life insurance segments. The company's strategic focus is on disciplined underwriting, which involves carefully assessing and pricing risk to ensure profitability. This is evident in its consistently strong combined ratio, a key metric for insurance companies that measures underwriting profitability.
A key element of Chubb's strategy is its diversification across geographies and product lines. The company has a significant presence in North America, but also operates in Europe, Asia-Pacific, and Latin America. This geographic diversification helps to mitigate risk and provides access to different growth opportunities. In terms of product lines, Chubb offers a wide array of insurance solutions, ranging from commercial P&C to personal lines to reinsurance. This diversification reduces the company's reliance on any single product or market.
Chubb also focuses on serving specific customer segments, including high-net-worth individuals and commercial businesses. The company's North America Personal P&C Insurance segment, which caters to affluent individuals, is a key driver of profitability. Chubb's ability to provide tailored insurance solutions and superior customer service to this segment gives it a competitive advantage. In the commercial segment, Chubb offers a range of specialized insurance products, such as cyber risk and environmental coverage, which are in high demand.
The company's reinsurance business, operating under the Chubb Tempest Re brand, provides further diversification and profitability. Reinsurance involves insuring other insurance companies, which allows Chubb to participate in a broader range of risks and generate additional revenue. Chubb's strong capital position and underwriting expertise make it a trusted reinsurance partner.
Chubb's acquisition strategy has also played a role in its growth. The company has historically made strategic acquisitions to expand its product offerings and geographic reach. These acquisitions have helped Chubb to become one of the largest and most diversified insurance companies in the world. The integration of acquired businesses is a key focus, ensuring that synergies are realized and that the company's underwriting discipline is maintained.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
15.6%
Sector: 9.4%
+66% VS SCTR
Economic Moat Analysis
Chubb possesses a narrow economic moat, primarily derived from its underwriting expertise and brand reputation. While not insurmountable, these factors provide a sustainable competitive advantage that allows the company to generate above-average returns on capital over the long term. The insurance industry is highly competitive, but Chubb's disciplined approach to risk management and its focus on specific customer segments differentiate it from its peers.
Underwriting expertise is a critical component of Chubb's moat. The company has a long history of successfully assessing and pricing risk, which is reflected in its consistently strong combined ratio. This expertise is difficult to replicate, as it requires a deep understanding of insurance markets, sophisticated actuarial models, and a culture of risk management. Chubb's underwriting teams have a proven track record of identifying and avoiding unprofitable risks, which gives the company a competitive edge.
Chubb's brand reputation is another important source of its moat. The company is known for its financial strength, claims-paying ability, and customer service. This reputation is particularly valuable in the high-net-worth segment, where customers are willing to pay a premium for peace of mind. Chubb's brand is also recognized and respected by insurance brokers and agents, which helps the company to attract and retain business.
While Chubb's moat is not as wide as some other companies, it is sufficient to protect its market share and profitability. The insurance industry is subject to cyclical fluctuations, but Chubb's disciplined underwriting and strong brand allow it to weather these cycles better than its competitors. The company's diversification across geographies and product lines also helps to mitigate risk and enhance its competitive position.
However, the moat is not without its challenges. The insurance industry is becoming increasingly competitive, with new entrants and disruptive technologies posing a threat to established players. Chubb must continue to innovate and adapt to changing market conditions to maintain its competitive advantage. The company's investment in technology and its focus on customer service are important steps in this direction.
Financial Health & Profitability
Chubb's financial health is generally strong, characterized by consistent profitability, a solid balance sheet, and a history of revenue growth. The company's revenue has grown steadily over the past few years, from $49.73 billion in FY2023 to $59.40 billion in FY2025, representing a compound annual growth rate (CAGR) of approximately 9%. This growth has been driven by a combination of organic expansion and strategic acquisitions.
Chubb's profitability is also impressive, with a net income of $10.62 billion in FY2025, translating to a net margin of 16.6%. This is slightly below the sector average of 17.8%, but still indicative of strong operational efficiency. The company's operating margin of 22.0% is also healthy, reflecting its ability to control costs and generate profits from its core insurance operations. The quarterly financial history shows some variability in operating margin, but the overall trend is positive.
Chubb's return on equity (ROE) of 12.5% is significantly higher than the sector average of 8.5%, indicating that the company is effectively utilizing its shareholders' equity to generate profits. This is a key strength of Chubb's business model and a testament to its underwriting expertise and capital management.
The company's balance sheet is also in good shape, with a debt-to-equity ratio of 20.00, which is significantly lower than the sector average of 115.00. This indicates that Chubb is not overly leveraged and has ample financial flexibility to pursue growth opportunities or weather economic downturns. The current ratio of 1.41 suggests that the company has sufficient liquid assets to meet its short-term obligations.
One area of concern is Chubb's negative free cash flow of -$4.11 billion. However, this is likely due to timing differences in premium collections and claims payments, as well as investment activities. Chubb's core insurance operations are typically cash-generative, and we expect free cash flow to improve in the future. It is important to monitor this metric closely, as sustained negative free cash flow could put pressure on the company's financial health.
Valuation Assessment
Chubb's valuation appears attractive relative to its peers and its historical performance. The company's price-to-earnings (P/E) ratio of 12.4x is lower than the sector average of 15.5x, suggesting that the stock is undervalued. Similarly, its enterprise value-to-EBITDA (EV/EBITDA) ratio of 2.7x is also lower than the sector average of 3.5x, further supporting the undervaluation thesis.
Given Chubb's strong profitability, consistent revenue growth, and superior ROE, it arguably deserves a premium valuation compared to its peers. The company's disciplined underwriting, diversified business model, and strong capital management are all factors that justify a higher multiple. However, the market may be discounting Chubb's valuation due to concerns about the insurance industry's cyclicality and the potential impact of natural disasters.
While the negative free cash flow is a concern, we believe that it is temporary and that Chubb's core insurance operations will continue to generate substantial cash flow over the long term. Therefore, we do not believe that the negative free cash flow warrants a significant discount to the company's valuation.
A discounted cash flow (DCF) analysis would be necessary to determine a precise fair value for Chubb's stock. However, based on the available data and our assessment of the company's fundamentals, we believe that the stock is currently trading below its intrinsic value. The Buy rating reflects our conviction that Chubb's stock price will appreciate over time as the company continues to execute its strategy and generate strong financial results.
It is important to note that valuation is not an exact science and that different investors may have different opinions about the appropriate valuation multiple for Chubb. However, we believe that the company's current valuation provides an attractive entry point for long-term investors.
Risk & Uncertainty
Chubb faces several risks and uncertainties that could impact its financial performance and stock price. One of the most significant risks is exposure to natural disasters, such as hurricanes, earthquakes, and wildfires. These events can result in substantial claims losses, which could negatively affect Chubb's underwriting profitability and capital position. The increasing frequency and severity of natural disasters due to climate change pose a growing threat to the insurance industry.
Another risk is the potential for adverse regulatory changes. The insurance industry is heavily regulated, and changes in regulations could increase Chubb's compliance costs or limit its ability to price risk effectively. For example, regulations related to cyber risk or environmental liability could have a significant impact on Chubb's business. Changes in interest rates can also impact Chubb's investment portfolio and profitability.
Competition is another significant risk. The insurance industry is highly competitive, with numerous players vying for market share. Chubb faces competition from both large, established insurers and smaller, more specialized companies. The rise of insurtech companies, which are leveraging technology to disrupt the traditional insurance model, also poses a competitive threat. Chubb must continue to innovate and adapt to changing market conditions to maintain its competitive advantage.
Investment risk is also a factor. Chubb invests a significant portion of its assets in fixed income securities and equities. Fluctuations in interest rates and equity markets could negatively impact the value of its investment portfolio and its overall financial performance. Credit risk, or the risk that borrowers will default on their obligations, is another concern.
Finally, Chubb faces operational risks, such as the risk of fraud, errors, and system failures. These risks could result in financial losses or damage to the company's reputation. Chubb must have robust internal controls and risk management processes in place to mitigate these risks.
Bulls Say / Bears Say
The Bull Case
BULL VIEWChubb's consistent underwriting profitability and superior ROE compared to peers justify a premium valuation and continued outperformance.
BULL VIEWThe company's diversified business model and global reach provide resilience and growth opportunities in various market conditions.
BULL VIEWChubb's strong capital position and disciplined capital management allow it to pursue strategic acquisitions and return capital to shareholders.
The Bear Case
BEAR VIEWChubb's exposure to natural disasters and adverse regulatory changes could lead to significant claims losses and increased compliance costs.
BEAR VIEWThe insurance industry's cyclicality and increasing competition from insurtech companies could erode Chubb's market share and profitability.
BEAR VIEWNegative free cash flow and potential for investment losses pose a risk to Chubb's financial health and could limit its ability to pursue growth opportunities.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score CB and 4,400+ other equities.
Chubb Ltd exhibits a 103% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
3.6%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
20.4%
Sector: 21.8%
Net Margin
Bottom-line profitability
16.6%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
