Aegon Ltd (AEG) is fairly valued and Sun Life Financial Inc (SLF) is overvalued.
Against our estimates of intrinsic value, AEG trades at the wider discount: a margin of safety of +3%, against -50% for SLF.
Values as of the 22 Sept 2026 close.
Book value at 1.16x, the multiple a 10.6% return on equity justifies, blended with earnings, values the shares at $9.24; the price of $8.95 is 3% below that value.
Leak Score 27/100 on 3 of 12 signals
Book value at 1.60x, the multiple a 13.6% return on equity justifies, blended with earnings, values the shares at $53.84; the price of $80.71 is 50% above that value.
Leak Score 27/100 on 3 of 12 signals
| Metric | AEG | SLF |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $8.95 | $80.71 |
| Intrinsic value | $9.24 | $53.84 |
| Margin of safety | +3% | -50% |
| Leak Score | 27/100 (3/12) | 27/100 (3/12) |
| Market cap | $13.2B | $44.9B |
| Revenue growth, 5 years | 7.4% | -2.1% |
| Operating margin | 2.5% | 11.6% |
| Net margin | 3.9% | 7.5% |
| Return on equity | 10.6% | 13.6% |
| Debt to equity | 0.43 | 0.35 |
| P/E | 11.9x | 18.9x |
| Forward P/E | 7.7x | 13.0x |
| P/B | 1.3x | 2.7x |
| Dividend yield | 5.6% | 3.4% |