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

FRA:2NN - Deutsche Boerse Ag - NL0010773842 - Common Stock - Currency: EUR

48.18  +0.25 (+0.52%)

Fundamental Rating

5

Taking everything into account, 2NN scores 5 out of 10 in our fundamental rating. 2NN was compared to 33 industry peers in the Insurance industry. 2NN scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. 2NN has a decent growth rate and is not valued too expensively. 2NN also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

2NN had positive earnings in the past year.
In the past year 2NN has reported a negative cash flow from operations.
2NN had positive earnings in each of the past 5 years.
In multiple years 2NN reported negative operating cash flow during the last 5 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5B -5B

1.2 Ratios

2NN's Return On Assets of 0.57% is on the low side compared to the rest of the industry. 2NN is outperformed by 75.00% of its industry peers.
With a Return On Equity value of 5.51%, 2NN is not doing good in the industry: 80.56% of the companies in the same industry are doing better.
Looking at the Return On Invested Capital, with a value of 0.27%, 2NN is doing worse than 75.00% of the companies in the same industry.
2NN had an Average Return On Invested Capital over the past 3 years of 0.43%. This is in line with the industry average of 2.25%.
Industry RankSector Rank
ROA 0.57%
ROE 5.51%
ROIC 0.27%
ROA(3y)0.86%
ROA(5y)0.81%
ROE(3y)7.37%
ROE(5y)6.55%
ROIC(3y)0.43%
ROIC(5y)0.62%
2NN.DE Yearly ROA, ROE, ROIC2NN.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8

1.3 Margins

2NN has a better Profit Margin (9.26%) than 61.11% of its industry peers.
2NN's Profit Margin has improved in the last couple of years.
2NN has a worse Operating Margin (5.44%) than 77.78% of its industry peers.
2NN's Operating Margin has declined in the last couple of years.
Industry RankSector Rank
OM 5.44%
PM (TTM) 9.26%
GM N/A
OM growth 3Y-19.44%
OM growth 5Y-10.55%
PM growth 3Y1.96%
PM growth 5Y8.52%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15

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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.
The number of shares outstanding for 2NN has been reduced compared to 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 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 50B 100B 150B 200B 250B

2.2 Solvency

2NN has an Altman-Z score of 0.11. This is a bad value and indicates that 2NN is not financially healthy and even has some risk of bankruptcy.
2NN has a Altman-Z score of 0.11. This is in the better half of the industry: 2NN outperforms 75.00% of its industry peers.
2NN has a Debt/Equity ratio of 0.58. This is a neutral value indicating 2NN is somewhat dependend on debt financing.
2NN has a Debt to Equity ratio (0.58) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF N/A
Altman-Z 0.11
ROIC/WACC0.04
WACC6.65%
2NN.DE Yearly LT Debt VS Equity VS FCF2NN.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10B 20B 30B

2.3 Liquidity

2NN has a Current Ratio of 1.87. This is a normal value and indicates that 2NN is financially healthy and should not expect problems in meeting its short term obligations.
2NN's Current ratio of 1.87 is amongst the best of the industry. 2NN outperforms 88.89% of its industry peers.
2NN has a Quick Ratio of 1.87. This is a normal value and indicates that 2NN is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of 2NN (1.87) is better than 88.89% of its industry peers.
Industry RankSector Rank
Current Ratio 1.87
Quick Ratio 1.87
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 2B 4B 6B 8B 10B

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5

3. Growth

3.1 Past

2NN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 176.74%, which is quite impressive.
Measured over the past 5 years, 2NN shows a small growth in Earnings Per Share. The EPS has been growing by 5.09% on average per year.
The Revenue has grown by 18.39% in the past year. This is quite good.
2NN shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -6.79% yearly.
EPS 1Y (TTM)176.74%
EPS 3Y-11.66%
EPS 5Y5.09%
EPS Q2Q%9.92%
Revenue 1Y (TTM)18.39%
Revenue growth 3Y-16.93%
Revenue growth 5Y-6.79%
Sales Q2Q%3.98%

3.2 Future

The Earnings Per Share is expected to grow by 9.87% on average over the next years. This is quite good.
The Revenue is expected to grow by 0.76% on average over the next years.
EPS Next Y16.81%
EPS Next 2Y11.82%
EPS Next 3Y9.2%
EPS Next 5Y9.87%
Revenue Next Year-5.85%
Revenue Next 2Y-2.18%
Revenue Next 3Y-0.66%
Revenue Next 5Y0.76%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
2NN.DE Yearly Revenue VS Estimates2NN.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8

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6

4. Valuation

4.1 Price/Earnings Ratio

2NN is valuated reasonably with a Price/Earnings ratio of 11.36.
72.22% of the companies in the same industry are more expensive than 2NN, based on the Price/Earnings ratio.
2NN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 29.35.
The Price/Forward Earnings ratio is 6.98, which indicates a rather cheap valuation of 2NN.
Based on the Price/Forward Earnings ratio, 2NN is valued cheaper than 91.67% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of 2NN to the average of the S&P500 Index (22.10), we can say 2NN is valued rather cheaply.
Industry RankSector Rank
PE 11.36
Fwd PE 6.98
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

61.11% of the companies in the same industry are more expensive than 2NN, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 21.98
2NN.DE Per share data2NN.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

2NN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.68
PEG (5Y)2.23
EPS Next 2Y11.82%
EPS Next 3Y9.2%

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8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.00%, 2NN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.64, 2NN pays a better dividend. On top of this 2NN pays more dividend than 94.44% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.33, 2NN pays a better dividend.
Industry RankSector Rank
Dividend Yield 7%

5.2 History

The dividend of 2NN has a limited annual growth rate of 4.13%.
Dividend Growth(5Y)4.13%
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

43.43% of the earnings are spent on dividend by 2NN. This is a bit on the high side, but may be sustainable.
2NN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP43.43%
EPS Next 2Y11.82%
EPS Next 3Y9.2%
2NN.DE Yearly Income VS Free CF VS Dividend2NN.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 (3/7/2025, 7:00:00 PM)

48.18

+0.25 (+0.52%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-20 2025-02-20/amc
Earnings (Next)08-08 2025-08-08
Inst Owners54.82%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap12.96B
Analysts73.85
Price Target51.48 (6.85%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7%
Yearly Dividend1.54
Dividend Growth(5Y)4.13%
DP43.43%
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)0.12%
PT rev (3m)-2.52%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)1.57%
EPS NY rev (3m)-2.23%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.39%
Revenue NY rev (3m)-4.16%
Valuation
Industry RankSector Rank
PE 11.36
Fwd PE 6.98
P/S 1.03
P/FCF N/A
P/OCF N/A
P/B 0.61
P/tB 0.65
EV/EBITDA 21.98
EPS(TTM)4.24
EY8.8%
EPS(NY)6.9
Fwd EY14.32%
FCF(TTM)-1.54
FCFYN/A
OCF(TTM)-1.39
OCFYN/A
SpS46.77
BVpS78.54
TBVpS73.87
PEG (NY)0.68
PEG (5Y)2.23
Profitability
Industry RankSector Rank
ROA 0.57%
ROE 5.51%
ROCE 0.34%
ROIC 0.27%
ROICexc 0.28%
ROICexgc 0.36%
OM 5.44%
PM (TTM) 9.26%
GM N/A
FCFM N/A
ROA(3y)0.86%
ROA(5y)0.81%
ROE(3y)7.37%
ROE(5y)6.55%
ROIC(3y)0.43%
ROIC(5y)0.62%
ROICexc(3y)0.44%
ROICexc(5y)0.64%
ROICexgc(3y)0.56%
ROICexgc(5y)0.83%
ROCE(3y)0.53%
ROCE(5y)0.77%
ROICexcg growth 3Y-28.33%
ROICexcg growth 5Y-14.58%
ROICexc growth 3Y-28.38%
ROICexc growth 5Y-15.42%
OM growth 3Y-19.44%
OM growth 5Y-10.55%
PM growth 3Y1.96%
PM growth 5Y8.52%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF N/A
Debt/EBITDA 14.61
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 0.63
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.87
Quick Ratio 1.87
Altman-Z 0.11
F-Score6
WACC6.65%
ROIC/WACC0.04
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)176.74%
EPS 3Y-11.66%
EPS 5Y5.09%
EPS Q2Q%9.92%
EPS Next Y16.81%
EPS Next 2Y11.82%
EPS Next 3Y9.2%
EPS Next 5Y9.87%
Revenue 1Y (TTM)18.39%
Revenue growth 3Y-16.93%
Revenue growth 5Y-6.79%
Sales Q2Q%3.98%
Revenue Next Year-5.85%
Revenue Next 2Y-2.18%
Revenue Next 3Y-0.66%
Revenue Next 5Y0.76%
EBIT growth 1Y564.08%
EBIT growth 3Y-33.08%
EBIT growth 5Y-16.63%
EBIT Next Year-1.69%
EBIT Next 3Y-0.37%
EBIT Next 5YN/A
FCF growth 1Y94.88%
FCF growth 3Y-79.26%
FCF growth 5YN/A
OCF growth 1Y95.38%
OCF growth 3Y-79.31%
OCF growth 5YN/A