NN GROUP NV (2NN.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:2NN • NL0010773842

69.12 EUR
+0.62 (+0.91%)
Last: Feb 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

Overall 2NN gets a fundamental rating of 4 out of 10. We evaluated 2NN against 43 industry peers in the Insurance industry. While 2NN seems to be doing ok healthwise, there are quite some concerns on its profitability. 2NN is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • In the past year 2NN was profitable.
  • In the past year 2NN had a positive cash flow from operations.
  • 2NN had positive earnings in each of the past 5 years.
  • The reported operating cash flow has been mixed in the past 5 years: 2NN reported negative operating cash flow in multiple years.
2NN.DE Yearly Net Income VS EBIT VS OCF VS FCF2NN.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B

1.2 Ratios

  • 2NN has a Return On Assets of 0.61%. This is in the lower half of the industry: 2NN underperforms 79.07% of its industry peers.
  • Looking at the Return On Equity, with a value of 5.84%, 2NN is doing worse than 88.37% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 0.43%, 2NN is doing worse than 62.79% of the companies in the same industry.
  • 2NN had an Average Return On Invested Capital over the past 3 years of 0.31%. This is below the industry average of 2.92%.
  • The 3 year average ROIC (0.31%) for 2NN is below the current ROIC(0.43%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.61%
ROE 5.84%
ROIC 0.43%
ROA(3y)0.67%
ROA(5y)0.8%
ROE(3y)6.62%
ROE(5y)6.79%
ROIC(3y)0.31%
ROIC(5y)0.56%
2NN.DE Yearly ROA, ROE, ROIC2NN.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

  • Looking at the Profit Margin, with a value of 9.91%, 2NN is in line with its industry, outperforming 58.14% of the companies in the same industry.
  • In the last couple of years the Profit Margin of 2NN has grown nicely.
  • Looking at the Operating Margin, with a value of 8.71%, 2NN is doing worse than 62.79% of the companies in the same industry.
  • In the last couple of years the Operating Margin of 2NN has remained more or less at the same level.
Industry RankSector Rank
OM 8.71%
PM (TTM) 9.91%
GM N/A
OM growth 3Y-1.79%
OM growth 5Y0.69%
PM growth 3Y-3.58%
PM growth 5Y9.26%
GM growth 3YN/A
GM growth 5YN/A
2NN.DE Yearly Profit, Operating, Gross Margins2NN.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10

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5

2. Health

2.1 Basic Checks

  • 2NN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • 2NN has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, 2NN has less shares outstanding
  • Compared to 1 year ago, 2NN has an improved debt to assets ratio.
2NN.DE Yearly Shares Outstanding2NN.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
2NN.DE Yearly Total Debt VS Total Assets2NN.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B 250B

2.2 Solvency

  • Based on the Altman-Z score of 0.14, we must say that 2NN is in the distress zone and has some risk of bankruptcy.
  • 2NN has a Altman-Z score of 0.14. This is in the better half of the industry: 2NN outperforms 76.74% of its industry peers.
  • The Debt to FCF ratio of 2NN is 70.44, which is on the high side as it means it would take 2NN, 70.44 years of fcf income to pay off all of its debts.
  • 2NN has a worse Debt to FCF ratio (70.44) than 81.40% of its industry peers.
  • A Debt/Equity ratio of 0.62 indicates that 2NN is somewhat dependend on debt financing.
  • 2NN has a Debt to Equity ratio (0.62) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Altman-Z 0.14
ROIC/WACC0.05
WACC7.92%
2NN.DE Yearly LT Debt VS Equity VS FCF2NN.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

2.3 Liquidity

  • 2NN has a Current Ratio of 2.16. This indicates that 2NN is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of 2NN (2.16) is better than 90.70% of its industry peers.
  • 2NN has a Quick Ratio of 2.16. This indicates that 2NN is financially healthy and has no problem in meeting its short term obligations.
  • With an excellent Quick ratio value of 2.16, 2NN belongs to the best of the industry, outperforming 90.70% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.16
Quick Ratio 2.16
2NN.DE Yearly Current Assets VS Current Liabilites2NN.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • 2NN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.68%, which is quite good.
  • Measured over the past years, 2NN shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.60% on average per year.
  • Looking at the last year, 2NN shows a small growth in Revenue. The Revenue has grown by 1.39% in the last year.
  • 2NN shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -12.53% yearly.
EPS 1Y (TTM)10.68%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%-40.43%
Revenue 1Y (TTM)1.39%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%6.55%

3.2 Future

  • 2NN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.03% yearly.
  • The Revenue is expected to grow by 2.10% on average over the next years.
EPS Next Y-2.92%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
EPS Next 5Y6.03%
Revenue Next Year0.22%
Revenue Next 2Y1.88%
Revenue Next 3Y2.5%
Revenue Next 5Y2.1%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
2NN.DE Yearly Revenue VS Estimates2NN.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B
2NN.DE Yearly EPS VS Estimates2NN.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8

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3

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.71, which indicates a correct valuation of 2NN.
  • Compared to the rest of the industry, the Price/Earnings ratio of 2NN indicates a slightly more expensive valuation: 2NN is more expensive than 69.77% of the companies listed in the same industry.
  • 2NN is valuated rather cheaply when we compare the Price/Earnings ratio to 28.03, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 8.57, the valuation of 2NN can be described as reasonable.
  • Based on the Price/Forward Earnings ratio, 2NN is valued cheaply inside the industry as 81.40% of the companies are valued more expensively.
  • 2NN is valuated cheaply when we compare the Price/Forward Earnings ratio to 27.97, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 14.71
Fwd PE 8.57
2NN.DE Price Earnings VS Forward Price Earnings2NN.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 2NN's Enterprise Value to EBITDA ratio is in line with the industry average.
  • 2NN's Price/Free Cash Flow ratio is rather expensive when compared to the industry. 2NN is more expensive than 81.40% of the companies in the same industry.
Industry RankSector Rank
P/FCF 98.38
EV/EBITDA 19.15
2NN.DE Per share data2NN.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y11.89%
EPS Next 3Y9.86%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.26%, 2NN is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.23, 2NN pays a bit more dividend than its industry peers.
  • 2NN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 5.26%

5.2 History

  • On average, the dividend of 2NN grows each year by 15.91%, which is quite nice.
Dividend Growth(5Y)15.91%
Div Incr Years2
Div Non Decr Years2
2NN.DE Yearly Dividends per share2NN.DE Yearly Dividends per shareYearly Dividends per share 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • 73.42% of the earnings are spent on dividend by 2NN. This is not a sustainable payout ratio.
  • The dividend of 2NN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP73.42%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
2NN.DE Yearly Income VS Free CF VS Dividend2NN.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B
2NN.DE Dividend Payout.2NN.DE Dividend Payout, showing the Payout Ratio.2NN.DE Dividend Payout.PayoutRetained Earnings

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NN GROUP NV

FRA:2NN (2/9/2026, 7:00:00 PM)

69.12

+0.62 (+0.91%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)08-08
Earnings (Next)02-12
Inst Owners59.04%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap18.59B
Revenue(TTM)12.76B
Net Income(TTM)1.26B
Analysts78.33
Price Target68.35 (-1.11%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.26%
Yearly Dividend2.56
Dividend Growth(5Y)15.91%
DP73.42%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.42%
PT rev (3m)6.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.33%
EPS NY rev (3m)-5.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 14.71
Fwd PE 8.57
P/S 1.46
P/FCF 98.38
P/OCF 74.67
P/B 0.86
P/tB 0.91
EV/EBITDA 19.15
EPS(TTM)4.7
EY6.8%
EPS(NY)8.07
Fwd EY11.67%
FCF(TTM)0.7
FCFY1.02%
OCF(TTM)0.93
OCFY1.34%
SpS47.42
BVpS80.46
TBVpS75.96
PEG (NY)N/A
PEG (5Y)N/A
Graham Number92.25
Profitability
Industry RankSector Rank
ROA 0.61%
ROE 5.84%
ROCE 0.54%
ROIC 0.43%
ROICexc 0.45%
ROICexgc 0.59%
OM 8.71%
PM (TTM) 9.91%
GM N/A
FCFM 1.48%
ROA(3y)0.67%
ROA(5y)0.8%
ROE(3y)6.62%
ROE(5y)6.79%
ROIC(3y)0.31%
ROIC(5y)0.56%
ROICexc(3y)0.32%
ROICexc(5y)0.58%
ROICexgc(3y)0.42%
ROICexgc(5y)0.75%
ROCE(3y)0.39%
ROCE(5y)0.7%
ROICexgc growth 3Y-14.7%
ROICexgc growth 5Y-8.18%
ROICexc growth 3Y-16.09%
ROICexc growth 5Y-9.11%
OM growth 3Y-1.79%
OM growth 5Y0.69%
PM growth 3Y-3.58%
PM growth 5Y9.26%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Debt/EBITDA 10.56
Cap/Depr 40%
Cap/Sales 0.47%
Interest Coverage 0.78
Cash Conversion 19.75%
Profit Quality 14.95%
Current Ratio 2.16
Quick Ratio 2.16
Altman-Z 0.14
F-Score7
WACC7.92%
ROIC/WACC0.05
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)10.68%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%-40.43%
EPS Next Y-2.92%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
EPS Next 5Y6.03%
Revenue 1Y (TTM)1.39%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%6.55%
Revenue Next Year0.22%
Revenue Next 2Y1.88%
Revenue Next 3Y2.5%
Revenue Next 5Y2.1%
EBIT growth 1Y62.43%
EBIT growth 3Y-20.73%
EBIT growth 5Y-11.93%
EBIT Next Year8.41%
EBIT Next 3Y3.51%
EBIT Next 5YN/A
FCF growth 1Y114.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y118.99%
OCF growth 3YN/A
OCF growth 5YN/A

NN GROUP NV / 2NN.DE FAQ

What is the ChartMill fundamental rating of NN GROUP NV (2NN.DE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to 2NN.DE.


Can you provide the valuation status for NN GROUP NV?

ChartMill assigns a valuation rating of 3 / 10 to NN GROUP NV (2NN.DE). This can be considered as Overvalued.


How profitable is NN GROUP NV (2NN.DE) stock?

NN GROUP NV (2NN.DE) has a profitability rating of 3 / 10.


What is the valuation of NN GROUP NV based on its PE and PB ratios?

The Price/Earnings (PE) ratio for NN GROUP NV (2NN.DE) is 14.71 and the Price/Book (PB) ratio is 0.86.


Can you provide the dividend sustainability for 2NN stock?

The dividend rating of NN GROUP NV (2NN.DE) is 6 / 10 and the dividend payout ratio is 73.42%.