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

Overall 2NN gets a fundamental rating of 4 out of 10. We evaluated 2NN against 48 industry peers in the Insurance industry. The financial health of 2NN is average, but 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

  • 2NN had positive earnings in the past year.
  • 2NN had a positive operating cash flow in the past year.
  • In the past 5 years 2NN has always been profitable.
  • 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 77.08% of its industry peers.
  • With a Return On Equity value of 5.84%, 2NN is not doing good in the industry: 85.42% of the companies in the same industry are doing better.
  • With a Return On Invested Capital value of 0.43%, 2NN is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
  • Measured over the past 3 years, the Average Return On Invested Capital for 2NN is below the industry average of 3.29%.
  • 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

  • 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 has a Operating Margin of 8.71%. This is in the lower half of the industry: 2NN underperforms 62.50% of its industry peers.
  • 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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 2NN is destroying value.
  • 2NN has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for 2NN has been reduced compared to 5 years ago.
  • 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

  • 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.
  • 2NN has a Altman-Z score of 0.14. This is in the better half of the industry: 2NN outperforms 72.92% of its industry peers.
  • 2NN has a debt to FCF ratio of 70.44. This is a negative value and a sign of low solvency as 2NN would need 70.44 years to pay back of 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.
  • Looking at the Debt to Equity ratio, with a value of 0.62, 2NN is in line with its industry, outperforming 56.25% of the companies in the same 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.
  • The Current ratio of 2NN (2.16) is better than 93.75% of its industry peers.
  • A Quick Ratio of 2.16 indicates that 2NN has no problem at all paying its short term obligations.
  • Looking at the Quick ratio, with a value of 2.16, 2NN belongs to the top of the industry, outperforming 93.75% 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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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.
  • 2NN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.60% yearly.
  • 2NN shows a small growth in Revenue. In the last year, the Revenue has grown by 1.39%.
  • The Revenue for 2NN have been decreasing by -12.53% on average. This is quite bad
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

  • Based on estimates for the next years, 2NN will show a small growth in Earnings Per Share. The EPS will grow by 5.98% on average per year.
  • 2NN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.67% yearly.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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 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

  • The Price/Earnings ratio is 15.00, 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 60.42% of the companies listed in the same industry.
  • 2NN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.99.
  • The Price/Forward Earnings ratio is 8.74, which indicates a very decent valuation of 2NN.
  • 85.42% of the companies in the same industry are more expensive than 2NN, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 28.06. 2NN is valued rather cheaply when compared to this.
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

  • 2NN's Enterprise Value to EBITDA is on the same level as the industry average.
  • Based on the Price/Free Cash Flow ratio, 2NN is valued a bit more expensive than 79.17% of the companies 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%

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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.
  • Compared to an average industry Dividend Yield of 4.15, 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 1.81.
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.
  • 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 (2/20/2026, 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%.