The average target price of INLIF.AT is 6.4 and suggests 32% upside potential. Usually, this means a BUY recommendation among investment firms, or a recommendation to increase one's position in this instrument in the next 12 months. The most optimistic analyst has a target price of 6.4. This translates into 32% upside potential in the best case. On the other hand, the most pessimistic analyst has a target price of 6.4. This suggests 32% upside potential. Even the most pessimistic analyst believes there will be stock growth. 

Interlife General Insurance Company S.A. operates as a general insurance company for individual and business in Greece. The company offers car, boat, property, personal, travel, pet, legal protection, civil liability, bicycle and skate, photovoltaic, and transport insurance products, as well as financial products. It also provides contractors all risk, assembly, electronic equipment, mechanical damage, boiler & pressure vessel explosion, and all hazard mechanical equipment, as well as group insurance products. The company was founded in 1991 and is headquartered in Thessaloniki, Greece.

Greece

Interlife General Insurance Company S.A.

Financial Services

The company pays dividends from time to time. It has paid dividends in less than half the past ten years. Dividend per share (DPS) has grown yearly, but the dynamics are unclear. In the past 12 months, the dividend yield has barely been above zero and was substantially below that of its peers. On average, the company pays dividends annually. 

INLIF.AT reported revenue of EUR 111mn in the last 12 months, up 9% from FY23. At the same time, the dynamics of cash flow, as measured by free cash flow (FCF), were drastically different. EPS fell 66% from FY23 to EUR 0.26.

The stock's performance has been mixed in the past six months, with growth following a decline. There is no clear price trend compared to its global peers from the same sector and industry (as shown above). The stock has outperformed this peer group by 9ppts over past six months and grown 5ppts slower in the past month. This is largely true for peers from the same country and sector. With respect to the stock's valuation against its peers, its overall price performance is neutral.

The company has reported modest EBITDA margins compared to its global peers in recent years. EBITDA margin amounted to 3.2% in the last 12 months, a decline from 16.7% in FY22. 

Historically, INLIF.AT has reported modest net margins compared to its global peers. Specifically, in the last 12 months, this metric equalled 4.0%, down from 13.0% in FY22. 

In the last 12 months, the return on capital employed (RoCE) declined to 2.0%, below the peers. 

Interlife General Insurance Company S.A. reported a return on equity (RoE) of 3.7% in the last 12 months, down from 12.1% in FY22. 

Another important profitability metric, return on assets (RoA), amounted to 1.5% in the last 12 months, a decrease from 4.9% in FY22. 

The ratio of return on invested capital (RoIC) to the weighted average cost of capital (WACC) has been 1.2 in the past several years. This ratio implies a average shareholder value creation. 

The institutional, legal, and compliance risks associated with the company's country are minimal. In combination with stringent business standards, shareholder rights are very highly protected.

INLIF.AT has very poor trading liquidity. It will take considerable time for the average private investor to sell a common position under normal market conditions. Liquidity is relatively stable and becomes extremely unfavourable on the days with the lowest activity. The trading volume mostly stays the same even under highly turbulent market conditions. Another factor to consider is the substantial number of days with zero trading volumes, i.e., without any ability to sell a position. The stock has a very small market capitalisation, which usually makes its trading liquidity erratic and unpredictable. 

No other major risks have been identified.

The risk of default is moderate. We note resilient historical revenue growth, adequate interest coverage, solid cash flow generation, and an favourable capital structure, among the positive credit factors. Among the negative credit factors, we point to weak positions in its industry, bleak profitability, and negligible return on capital.

In highly turbulent market conditions, INLIF.AT is as volatile as an index. In other words, the stock will move with the index in times of extreme market volatility or shocking company news. Standalone, the worst-day losses (less than 1% of the time) will likely be limited. 

In normal market circumstances, INLIF.AT is as volatile as an index. Put differently, without outstanding market volatility or shocking company news, the stock's price will move with the index. The stock's losses on its worst days (less than 1-5% of the time) will range from very low to negligible. 

From both historical and forecast perspectives, the stock is underpriced compared to similar stocks. In particular, the stock is reasonably priced on P/E, of fair value on EV/EBITDA, undervalued on P/FCF. 

Interlife General Insurance Company S.A.

€ 4.84

4

Interlife General Insurance Company S.A.

€ 4.84

4

Risk factor

Profitability factor

Risk / Profitability

Risk factor

Profitability factor

€ 4.84

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