ageas SA/NV, together with its subsidiaries, engages in insurance business.
FAIL · Does not pass the screen
86.14 USD
At the last full screen 2026-09-09
Screened 2026-09-09 · the tape above runs as of 19:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its accumulation label.
ageas SA/NV holds its Accumulation at $86.14. Consolidating, no directional conviction, held for 308 days.
As held on the ledger · 2026-09-09
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 308 days
Price at the screen
$86.14
Valuation
7.63 trailing · 9.37 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.54
The Workings
Five Screens, Shown in Full
Does not pass. Business activity
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Financial sector: insurance
Fail
Debt load
0.00%
Below 33%
Interest-bearing debt is just 0.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades at roughly a 31% discount to our $113.14 fair value, moderate competitive moat, 27.50% revenue growth.
Fair value range in USD, drawn from the 2026-09-09 screen. The gold marker is the market price at the same screen. A 31.3% margin of safety to the base estimate.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-09 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Belgian Insurer Trips Ethical Screen at Full Price
Every time a family in Brussels files a home claim or a pensioner in Asia draws down a policy, ageas sits in the middle of the flow. Revenue is rising 20% while margins sit at 18% and return on equity reaches 19%, yet the shares still trade above our fair value with a negative margin of safety.
We pass. The stock fails the ethical screen on business activity and offers no valuation cushion at an 8.6 times forward multiple. A moderate moat does not offset either shortcoming.
Risk sits in the ethical breach itself plus ordinary insurance cycles in Europe and Asia that can swing results quickly. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Belgium and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
AGESY trades on PNK (the company is based in Belgium). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 18%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it hold, with a mean price target of $80.
2026-07-20Distribution$82.89+7.4%Entry 5
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 7.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 18%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it hold, with a mean price target of $80.
2026-07-18Distribution$77.15+0.0%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 18%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it hold, with a mean price target of $80.
2026-07-16Distribution$77.15+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 18%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it hold, with a mean price target of $80.
2026-07-03Distribution$77.15+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$77.15Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
