ASR NEDERLAND NV (ASRNL.AS) Fundamental Analysis & Valuation

AMS:ASRNL • NL0011872643

58.82 EUR
-0.16 (-0.27%)
Last: Mar 4, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This ASRNL.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

3

ASRNL gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 46 industry peers in the Insurance industry. There are concerns on the financial health of ASRNL while its profitability can be described as average. ASRNL is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. ASRNL.AS Profitability Analysis

1.1 Basic Checks

  • ASRNL had positive earnings in the past year.
  • In the past year ASRNL had a positive cash flow from operations.
  • ASRNL had positive earnings in 4 of the past 5 years.
  • In multiple years ASRNL reported negative operating cash flow during the last 5 years.
ASRNL.AS Yearly Net Income VS EBIT VS OCF VS FCFASRNL.AS 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 2025 0 2B 4B 6B

1.2 Ratios

  • ASRNL's Return On Assets of 0.77% is on the low side compared to the rest of the industry. ASRNL is outperformed by 65.22% of its industry peers.
  • ASRNL's Return On Equity of 11.03% is on the low side compared to the rest of the industry. ASRNL is outperformed by 73.91% of its industry peers.
  • ASRNL's Return On Invested Capital of 3.66% is amongst the best of the industry. ASRNL outperforms 82.61% of its industry peers.
  • ASRNL had an Average Return On Invested Capital over the past 3 years of 2.65%. This is in line with the industry average of 3.09%.
  • The 3 year average ROIC (2.65%) for ASRNL is below the current ROIC(3.66%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.77%
ROE 11.03%
ROIC 3.66%
ROA(3y)0.56%
ROA(5y)0%
ROE(3y)8.3%
ROE(5y)1.7%
ROIC(3y)2.65%
ROIC(5y)N/A
ASRNL.AS Yearly ROA, ROE, ROICASRNL.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • Looking at the Profit Margin, with a value of 6.61%, ASRNL is doing worse than 67.39% of the companies in the same industry.
  • ASRNL's Profit Margin has declined in the last couple of years.
  • ASRNL has a better Operating Margin (40.49%) than 97.83% of its industry peers.
  • In the last couple of years the Operating Margin of ASRNL has grown nicely.
Industry RankSector Rank
OM 40.49%
PM (TTM) 6.61%
GM N/A
OM growth 3YN/A
OM growth 5Y20.02%
PM growth 3YN/A
PM growth 5Y-19.65%
GM growth 3YN/A
GM growth 5YN/A
ASRNL.AS Yearly Profit, Operating, Gross MarginsASRNL.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 -40

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. ASRNL.AS Health Analysis

2.1 Basic Checks

  • ASRNL 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 ASRNL has been reduced compared to 1 year ago.
  • ASRNL has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for ASRNL has been reduced compared to a year ago.
ASRNL.AS Yearly Shares OutstandingASRNL.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
ASRNL.AS Yearly Total Debt VS Total AssetsASRNL.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

2.2 Solvency

  • The Debt to FCF ratio of ASRNL is 179.66, which is on the high side as it means it would take ASRNL, 179.66 years of fcf income to pay off all of its debts.
  • ASRNL has a worse Debt to FCF ratio (179.66) than 76.09% of its industry peers.
  • A Debt/Equity ratio of 0.97 indicates that ASRNL is somewhat dependend on debt financing.
  • The Debt to Equity ratio of ASRNL (0.97) is worse than 71.74% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 179.66
Altman-Z N/A
ROIC/WACC0.23
WACC15.63%
ASRNL.AS Yearly LT Debt VS Equity VS FCFASRNL.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B 10B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
ASRNL.AS Yearly Current Assets VS Current LiabilitesASRNL.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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

5

3. ASRNL.AS Growth Analysis

3.1 Past

  • ASRNL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -45.70%.
  • The Earnings Per Share has been decreasing by -9.46% on average over the past years.
  • The Revenue has grown by 13.43% in the past year. This is quite good.
  • The Revenue has been growing by 18.47% on average over the past years. This is quite good.
EPS 1Y (TTM)-45.7%
EPS 3YN/A
EPS 5Y-9.46%
EPS Q2Q%-60.87%
Revenue 1Y (TTM)13.43%
Revenue growth 3Y63.32%
Revenue growth 5Y18.47%
Sales Q2Q%9.84%

3.2 Future

  • The Earnings Per Share is expected to grow by 6.45% on average over the next years.
  • ASRNL is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 18.14% yearly.
EPS Next Y25.33%
EPS Next 2Y14.77%
EPS Next 3Y9.93%
EPS Next 5Y6.45%
Revenue Next Year3.26%
Revenue Next 2Y18.14%
Revenue Next 3YN/A
Revenue Next 5YN/A

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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
ASRNL.AS Yearly Revenue VS EstimatesASRNL.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B 15B
ASRNL.AS Yearly EPS VS EstimatesASRNL.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2 4 6

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3

4. ASRNL.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 25.46, ASRNL can be considered very expensive at the moment.
  • ASRNL's Price/Earnings ratio is a bit more expensive when compared to the industry. ASRNL is more expensive than 78.26% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.03. ASRNL is around the same levels.
  • The Price/Forward Earnings ratio is 9.89, which indicates a very decent valuation of ASRNL.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ASRNL indicates a somewhat cheap valuation: ASRNL is cheaper than 67.39% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.11, ASRNL is valued rather cheaply.
Industry RankSector Rank
PE 25.46
Fwd PE 9.89
ASRNL.AS Price Earnings VS Forward Price EarningsASRNL.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • ASRNL's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. ASRNL is more expensive than 76.09% of the companies in the same industry.
Industry RankSector Rank
P/FCF 232.07
EV/EBITDA N/A
ASRNL.AS Per share dataASRNL.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • ASRNL's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.01
PEG (5Y)N/A
EPS Next 2Y14.77%
EPS Next 3Y9.93%

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

6

5. ASRNL.AS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 5.47%, ASRNL is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.03, ASRNL pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, ASRNL pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.47%

5.2 History

  • On average, the dividend of ASRNL grows each year by 18.44%, which is quite nice.
Dividend Growth(5Y)18.44%
Div Incr Years3
Div Non Decr Years3
ASRNL.AS Yearly Dividends per shareASRNL.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • ASRNL pays out 60.02% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of ASRNL is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP60.02%
EPS Next 2Y14.77%
EPS Next 3Y9.93%
ASRNL.AS Yearly Income VS Free CF VS DividendASRNL.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B 3B
ASRNL.AS Dividend Payout.ASRNL.AS Dividend Payout, showing the Payout Ratio.ASRNL.AS Dividend Payout.PayoutRetained Earnings

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ASRNL.AS Fundamentals: All Metrics, Ratios and Statistics

ASR NEDERLAND NV

AMS:ASRNL (3/4/2026, 5:36:15 PM)

58.82

-0.16 (-0.27%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-18
Earnings (Next)N/A
Inst Owners77.16%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap12.30B
Revenue(TTM)17.28B
Net Income(TTM)1.09B
Analysts79.09
Price Target68.43 (16.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.47%
Yearly Dividend2.99
Dividend Growth(5Y)18.44%
DP60.02%
Div Incr Years3
Div Non Decr Years3
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)3.8%
PT rev (3m)5.54%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.29%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)1.65%
Revenue NY rev (3m)1.65%
Valuation
Industry RankSector Rank
PE 25.46
Fwd PE 9.89
P/S 0.75
P/FCF 232.07
P/OCF 166.21
P/B 1.25
P/tB 1.33
EV/EBITDA N/A
EPS(TTM)2.31
EY3.93%
EPS(NY)5.95
Fwd EY10.12%
FCF(TTM)0.25
FCFY0.43%
OCF(TTM)0.35
OCFY0.6%
SpS78.76
BVpS47.16
TBVpS44.31
PEG (NY)1.01
PEG (5Y)N/A
Graham Number49.51
Profitability
Industry RankSector Rank
ROA 0.77%
ROE 11.03%
ROCE 4.88%
ROIC 3.66%
ROICexc 3.75%
ROICexgc 4.37%
OM 40.49%
PM (TTM) 6.61%
GM N/A
FCFM 0.32%
ROA(3y)0.56%
ROA(5y)0%
ROE(3y)8.3%
ROE(5y)1.7%
ROIC(3y)2.65%
ROIC(5y)N/A
ROICexc(3y)2.73%
ROICexc(5y)N/A
ROICexgc(3y)3.18%
ROICexgc(5y)N/A
ROCE(3y)3.55%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y24.71%
ROICexc growth 3YN/A
ROICexc growth 5Y24.35%
OM growth 3YN/A
OM growth 5Y20.02%
PM growth 3YN/A
PM growth 5Y-19.65%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 179.66
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 0.13%
Interest Coverage 1.86
Cash Conversion N/A
Profit Quality 4.87%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC15.63%
ROIC/WACC0.23
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)-45.7%
EPS 3YN/A
EPS 5Y-9.46%
EPS Q2Q%-60.87%
EPS Next Y25.33%
EPS Next 2Y14.77%
EPS Next 3Y9.93%
EPS Next 5Y6.45%
Revenue 1Y (TTM)13.43%
Revenue growth 3Y63.32%
Revenue growth 5Y18.47%
Sales Q2Q%9.84%
Revenue Next Year3.26%
Revenue Next 2Y18.14%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y45.99%
EBIT growth 3YN/A
EBIT growth 5Y42.18%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-85.9%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-82.63%
OCF growth 3YN/A
OCF growth 5YN/A

ASR NEDERLAND NV / ASRNL.AS FAQ

What is the ChartMill fundamental rating of ASR NEDERLAND NV (ASRNL.AS) stock?

ChartMill assigns a fundamental rating of 3 / 10 to ASRNL.AS.


Can you provide the valuation status for ASR NEDERLAND NV?

ChartMill assigns a valuation rating of 3 / 10 to ASR NEDERLAND NV (ASRNL.AS). This can be considered as Overvalued.


Can you provide the profitability details for ASR NEDERLAND NV?

ASR NEDERLAND NV (ASRNL.AS) has a profitability rating of 4 / 10.


What are the PE and PB ratios of ASR NEDERLAND NV (ASRNL.AS) stock?

The Price/Earnings (PE) ratio for ASR NEDERLAND NV (ASRNL.AS) is 25.46 and the Price/Book (PB) ratio is 1.25.


What is the expected EPS growth for ASR NEDERLAND NV (ASRNL.AS) stock?

The Earnings per Share (EPS) of ASR NEDERLAND NV (ASRNL.AS) is expected to grow by 25.33% in the next year.