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

FRA:2NN • NL0010773842

70.5 EUR
+1.6 (+2.32%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to 2NN. 2NN was compared to 48 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. While showing a medium growth rate, 2NN is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • 2NN had positive earnings in the past year.
  • 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

  • Looking at the Return On Assets, with a value of 0.61%, 2NN is doing worse than 77.08% of the companies in the same industry.
  • 2NN has a worse Return On Equity (5.84%) than 85.42% of its industry peers.
  • 2NN's Return On Invested Capital of 0.43% is on the low side compared to the rest of the industry. 2NN is outperformed by 62.50% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for 2NN is below the industry average of 3.29%.
  • The last Return On Invested Capital (0.43%) for 2NN is above the 3 year average (0.31%), which is a sign of increasing profitability.
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

  • The Profit Margin of 2NN (9.91%) is better than 60.42% of its industry peers.
  • 2NN's Profit Margin has improved in the last couple of years.
  • 2NN's Operating Margin of 8.71% is on the low side compared to the rest of the industry. 2NN is outperformed by 62.50% of its industry peers.
  • 2NN's Operating Margin has been stable in the last couple of years.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

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
  • 2NN has a better debt/assets ratio than last year.
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

  • 2NN has an Altman-Z score of 0.14. This is a bad value and indicates that 2NN is not financially healthy and even has some risk of bankruptcy.
  • With a decent Altman-Z score value of 0.14, 2NN is doing good in the industry, outperforming 72.92% of the companies in the same industry.
  • 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 Debt to FCF ratio of 70.44. This is in the lower half of the industry: 2NN underperforms 79.17% 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 comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Altman-Z 0.14
ROIC/WACC0.05
WACC7.97%
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.
  • 2NN has a better Current ratio (2.16) than 93.75% 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.
  • The Quick ratio of 2NN (2.16) is better than 93.75% of its industry peers.
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.
  • Measured over the past years, 2NN shows a very negative growth in Revenue. The Revenue has been decreasing by -12.53% on average per year.
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

  • The Earnings Per Share is expected to grow by 5.98% on average over the next years.
  • Based on estimates for the next years, 2NN will show a small growth in Revenue. The Revenue will grow by 1.67% on average per year.
EPS Next Y-2.92%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
EPS Next 5Y5.98%
Revenue Next Year0.22%
Revenue Next 2Y1.88%
Revenue Next 3Y2.5%
Revenue Next 5Y1.67%

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 2031 2 4 6 8

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3

4. Valuation

4.1 Price/Earnings Ratio

  • 2NN is valuated correctly with a Price/Earnings ratio of 15.00.
  • Based on the Price/Earnings ratio, 2NN is valued a bit more expensive than 60.42% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.99. 2NN is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 8.74, the valuation of 2NN can be described as reasonable.
  • Based on the Price/Forward Earnings ratio, 2NN is valued cheaply inside the industry as 85.42% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of 2NN to the average of the S&P500 Index (28.06), we can say 2NN is valued rather cheaply.
Industry RankSector Rank
PE 15
Fwd PE 8.74
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of 2NN is on the same level as its industry peers.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of 2NN indicates a slightly more expensive valuation: 2NN is more expensive than 79.17% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 98.1
EV/EBITDA 18.77
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%

More info and screens

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

6

5. Dividend

5.1 Amount

  • 2NN has a Yearly Dividend Yield of 5.02%, which is a nice return.
  • 2NN's Dividend Yield is a higher than the industry average which is at 4.16.
  • 2NN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.85.
Industry RankSector Rank
Dividend Yield 5.02%

5.2 History

  • The dividend of 2NN is nicely growing with an annual growth rate of 15.91%!
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 2026 1 2 3

5.3 Sustainability

  • 73.42% of the earnings are spent on dividend by 2NN. This is not a sustainable payout ratio.
  • 2NN's earnings are growing slower than its dividend. 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 (2/20/2026, 7:00:00 PM)

70.5

+1.6 (+2.32%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-12
Earnings (Next)08-06
Inst Owners59.04%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap18.54B
Revenue(TTM)12.76B
Net Income(TTM)1.26B
Analysts78.4
Price Target68.35 (-3.05%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.02%
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)6.08%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.83%
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 15
Fwd PE 8.74
P/S 1.45
P/FCF 98.1
P/OCF 74.46
P/B 0.86
P/tB 0.91
EV/EBITDA 18.77
EPS(TTM)4.7
EY6.67%
EPS(NY)8.07
Fwd EY11.45%
FCF(TTM)0.72
FCFY1.02%
OCF(TTM)0.95
OCFY1.34%
SpS48.5
BVpS82.3
TBVpS77.7
PEG (NY)N/A
PEG (5Y)N/A
Graham Number93.29
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
WACC7.97%
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 5Y5.98%
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 5Y1.67%
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 15 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%.