Latest Ratios: P/E Ratio 12.7x · EV/EBITDA 14.1x · ROE 13.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $141.6B | $123.8B | $113.8B | $93.6B | $93.4B | $85.7B | $69.8B | $71.4B | $60.3B | $68.9B | $61.6B |
| Enterprise Value | $157.0B | $139.1B | $127.1B | $105.7B | $106.3B | $100.2B | $83.0B | $84.8B | $71.7B | $80.7B | $73.7B |
| P/E Ratio → | 12.75 | 12.13 | 12.17 | 10.37 | 17.80 | 10.03 | 19.76 | 16.03 | 15.22 | 17.84 | 14.90 |
| P/S Ratio | 2.28 | 2.07 | 2.03 | 1.87 | 2.17 | 2.10 | 1.94 | 2.09 | 1.85 | 2.13 | 1.96 |
| P/B Ratio | 1.81 | 1.55 | 1.66 | 1.47 | 1.85 | 1.43 | 1.17 | 1.29 | 1.20 | 1.35 | 1.28 |
| P/FCF | 7.65 | 8.51 | 7.03 | 7.41 | 8.30 | 7.68 | 7.13 | 11.26 | 11.00 | 15.29 | 11.63 |
| P/OCF | 9.74 | 8.51 | 7.03 | 7.41 | 8.30 | 7.68 | 7.13 | 11.26 | 11.00 | 15.29 | 11.63 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.33 | 2.26 | 2.11 | 2.47 | 2.46 | 2.30 | 2.48 | 2.19 | 2.50 | 2.34 |
| EV / EBITDA | 14.09 | 10.43 | 10.79 | 10.74 | 15.70 | 9.94 | 18.64 | 15.26 | 14.34 | 20.27 | 11.29 |
| EV / EBIT | 12.03 | 10.08 | 10.42 | 10.36 | 15.07 | 9.74 | 17.74 | 14.61 | 13.52 | 18.64 | 13.26 |
| EV / FCF | — | 9.57 | 7.86 | 8.36 | 9.44 | 8.98 | 8.48 | 13.36 | 13.07 | 17.92 | 13.92 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.4% | 29.4% | 28.8% | 27.6% | 25.2% | 27.8% | 19.4% | 25.1% | 24.8% | 23.0% | 28.4% |
| Operating Margin | 21.8% | 21.8% | 20.4% | 19.0% | 15.1% | 24.0% | 11.5% | 15.3% | 14.3% | 11.5% | 15.7% |
| Net Profit Margin | 17.2% | 17.2% | 16.5% | 18.0% | 12.2% | 20.9% | 9.8% | 13.0% | 12.1% | 11.9% | 13.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.9% | 13.9% | 14.0% | 15.8% | 9.5% | 14.3% | 6.2% | 8.4% | 7.8% | 7.8% | 10.7% |
| ROA | 4.0% | 4.0% | 3.9% | 4.2% | 2.6% | 4.4% | 1.9% | 2.6% | 2.4% | 2.4% | 3.2% |
| ROIC | 11.1% | 11.1% | 10.9% | 10.3% | 7.1% | 10.0% | 4.4% | 6.0% | 5.5% | 4.5% | 7.4% |
| ROCE | 10.5% | 10.5% | 10.6% | 4.4% | 3.3% | 5.0% | 2.3% | 3.0% | 4.2% | 3.5% | 4.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.22 | 0.22 | 0.23 | 0.23 | 0.29 | 0.27 | 0.25 | 0.27 | 0.28 | 0.25 | 0.31 |
| Debt / EBITDA | 1.32 | 1.32 | 1.32 | 1.47 | 2.20 | 1.60 | 3.36 | 2.68 | 2.87 | 3.16 | 2.27 |
| Net Debt / Equity | — | 0.19 | 0.19 | 0.19 | 0.25 | 0.24 | 0.22 | 0.24 | 0.23 | 0.23 | 0.25 |
| Net Debt / EBITDA | 1.15 | 1.15 | 1.13 | 1.22 | 1.90 | 1.44 | 2.97 | 2.40 | 2.27 | 2.97 | 1.86 |
| Debt / FCF | — | 1.06 | 0.82 | 0.95 | 1.14 | 1.30 | 1.35 | 2.10 | 2.07 | 2.63 | 2.29 |
| Interest Coverage | 18.07 | 18.07 | 16.46 | 15.18 | 12.38 | 20.91 | 9.07 | 10.51 | 8.27 | 7.13 | 9.18 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.62 | 0.62 | 0.61 | — | — | — | — | — | 0.02 | 0.01 | 0.02 |
| Quick Ratio | 0.62 | 0.62 | 0.61 | — | — | — | — | — | 0.02 | 0.01 | 0.02 |
| Cash Ratio | 0.30 | 0.30 | 0.30 | — | — | — | — | — | 0.02 | 0.01 | 0.02 |
| Asset Turnover | — | 0.22 | 0.23 | 0.22 | 0.22 | 0.20 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.2% | 1.3% | 1.5% | 1.5% | 1.6% | 2.0% | 1.9% | 2.2% | 1.9% | 1.9% |
| Payout Ratio | 14.6% | 14.6% | 15.5% | 15.4% | 26.2% | 16.4% | 39.3% | 30.4% | 33.7% | 33.9% | 28.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.8% | 8.2% | 8.2% | 9.6% | 5.6% | 10.0% | 5.1% | 6.2% | 6.6% | 5.6% | 6.7% |
| FCF Yield | 13.1% | 11.7% | 14.2% | 13.5% | 12.0% | 13.0% | 14.0% | 8.9% | 9.1% | 6.5% | 8.6% |
| Buyback Yield | 2.6% | 3.0% | 1.6% | 2.6% | 3.1% | 5.7% | 0.7% | 2.1% | 1.7% | 1.2% | 0.0% |
| Total Shareholder Yield | 3.6% | 4.2% | 2.8% | 4.1% | 4.6% | 7.3% | 2.7% | 4.0% | 3.9% | 3.1% | 1.9% |
| Shares Outstanding | — | $397M | $412M | $414M | $424M | $443M | $453M | $459M | $467M | $471M | $466M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CB stock.
Chubb Limited's current P/E ratio is 12.7x. The historical average is 15.6x. This places it at the 55th percentile of its historical range.
Chubb Limited's current EV/EBITDA is 14.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.4x.
Chubb Limited's return on equity (ROE) is 13.9%. The historical average is 11.4%.
Based on historical data, Chubb Limited is trading at a P/E of 12.7x. This is at the 55th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Chubb Limited's current dividend yield is 1.04% with a payout ratio of 14.6%.
Chubb Limited has 29.4% gross margin and 21.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Chubb Limited's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Social inflation casualty reserve pressure
Metrics are mathematically derived from official filings.
Discount to Peers Despite Strong Franchise
At 1.81x P/B and 12.75x trailing P/E, Chubb trades below WRB's 3.09x P/B but above AIG's 1.08x, while its reported ROE of 3.4% in 2026Q3 sits far below peer returns, so the multiple depends on normalized returns rather than current ones.
The 1.81x P/B is a reasonable anchor for a carrier whose quarterly ROE has run between roughly 2.9% and 4.1% over the last ten quarters, which implies a book-value multiple that is only justified if underwriting margins recover toward historical levels. The market appears to be pricing Chubb closer to a mid-tier carrier than to the high-return peers such as ALL and TRV, which suggests investors are discounting the sustainability of recent earnings rather than questioning the franchise itself. Investors should monitor whether the 2026Q3 combined ratio of 80.0% is a durable level or a temporary reflection of catastrophe timing and reserve actions.
Combined Ratio Swings Obscure Underlying Trend
Chubb's combined ratio ranged from 75.0% in 2025Q2 to 100.0% in 2026Q1 and sat at 80.0% in 2026Q3, based on reported quarterly figures, a volatility range wide enough to make the single-quarter read unreliable.
The 2026Q1 print at 100.0% combined ratio, driven by a 46.4% expense ratio alongside a 53.6% loss ratio, appears to reflect a timing or accounting distortion rather than a steady-state deterioration, since the same carrier produced sub-80% readings in adjacent quarters. Between 2024Q2 and 2025Q4, the loss ratio improved from roughly 71% to 68%, which may indicate that pricing actions are offsetting social inflation, though the data alone cannot separate rate effects from reserve releases. Investors should weigh a multi-quarter average near 78% combined ratio more heavily than any single period when assessing underwriting quality.
Thin ROE Reflects Underwriting Margin Compression
Reported ROE has held between 1.9% and 4.1% across ten quarters, with a 3.4% print in 2026Q3 and ROA near 1.0%, based on reported figures, levels that sit well below the 13.9% ROE cited in the company data and the 19.0% to 36.3% range for WRB, TRV, HIG and ALL.
The gap between the quarterly ROE figures and the 13.9% annual ROE in the company data suggests the ratio series may be computed on a different basis or annualization, so the level should be treated with caution until reconciled. Net investment income is not reported in the supplied ratio data, which prevents decomposing ROE into underwriting profit versus float income, the central analytical question for a carrier of this size. Investors should monitor whether underwriting margins hold near 20% to 25% to support a return profile closer to peer levels.
Low Reported Leverage Requires Reconciliation
The reported debt-to-equity ratio of 0.22 to 0.24 and interest coverage of 17.7x in 2026Q3 suggest modest parent-level leverage, although the figures do not capture insurance reserve liabilities that dominate Chubb's balance sheet.
Balance sheet liabilities rising from roughly $178B to $205B against equity growth from $64B to $73B indicate that the insurance float, rather than financial debt, is the primary source of balance-sheet funding. Premium-to-surplus leverage cannot be computed from the supplied data, so the underwriting leverage that rating agencies monitor remains unassessed here. Investors should monitor reserve adequacy relative to surplus as the more meaningful risk measure for this carrier.
Combined Ratio Misleads Without Reserve Development
The combined ratio is the most commonly misapplied metric for Chubb, since reported quarterly values of 75% to 80% may include favorable prior-year reserve development that flatters current underwriting results.
A low combined ratio in a quarter with a sharp EPS beat, such as the 78.7% EPS jump noted in 2026Q1 context, raises the question of whether reserve releases are contributing meaningfully to reported profitability. The alternative metric to use is the current accident year combined ratio excluding catastrophes, which strips out both weather volatility and prior-year development, though this figure is not supplied in the data. Investors should treat headline combined ratio readings as provisional until accident-year figures are reviewed.