Chubb Limited (CB) is undervalued and Cincinnati Financial Corp (CINF) is undervalued.
Against our estimates of intrinsic value, CINF trades at the wider discount: a margin of safety of +42%, against +24% for CB.
Values as of the 22 Sept 2026 close.
Book value at 2.50x, the multiple a 15.4% return on equity justifies, blended with earnings, values the shares at $442.13; the price of $335.77 is 24% below that value.
Leak Score 84/100 on 3 of 12 signals
Book value at 2.50x, the multiple a 21.5% return on equity justifies, blended with earnings, values the shares at $284.32; the price of $165.83 is 42% below that value.
Leak Score 91/100 on 9 of 12 signals
| Metric | CB | CINF |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $335.77 | $165.83 |
| Intrinsic value | $442.13 | $284.32 |
| Margin of safety | +24% | +42% |
| Leak Score | 84/100 (3/12) | 91/100 (9/12) |
| Market cap | $129.5B | $25.5B |
| Revenue growth, 5 years | 10.7% | 10.9% |
| Operating margin | 23.2% | 30.2% |
| Net margin | 18.0% | 23.8% |
| Return on equity | 15.4% | 21.5% |
| Debt to equity | 0.31 | 0.05 |
| P/E | 11.9x | 7.8x |
| Forward P/E | 11.5x | 18.5x |
| P/B | 1.7x | 1.5x |
| Dividend yield | 1.2% | 2.3% |