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ASR NEDERLAND NV (ASRNL.AS) Stock Fundamental Analysis

AMS:ASRNL - Euronext Amsterdam - NL0011872643 - Common Stock - Currency: EUR

47.12  -0.09 (-0.19%)

Fundamental Rating

3

ASRNL gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 32 industry peers in the Insurance industry. Both the profitability and financial health of ASRNL have multiple concerns. ASRNL is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

ASRNL had positive earnings in the past year.
In the past year ASRNL had a positive cash flow from operations.
Of the past 5 years ASRNL 4 years were profitable.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B 2B -2B 3B

1.2 Ratios

With a Return On Assets value of 0.41%, ASRNL is not doing good in the industry: 86.67% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of 6.63%, ASRNL is doing worse than 76.67% of the companies in the same industry.
ASRNL's Return On Invested Capital of 0.55% is on the low side compared to the rest of the industry. ASRNL is outperformed by 66.67% of its industry peers.
Industry RankSector Rank
ROA 0.41%
ROE 6.63%
ROIC 0.55%
ROA(3y)-0.32%
ROA(5y)0.23%
ROE(3y)-1.77%
ROE(5y)3.86%
ROIC(3y)N/A
ROIC(5y)N/A
ASRNL.AS Yearly ROA, ROE, ROICASRNL.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 -20

1.3 Margins

The Profit Margin of ASRNL (5.43%) is worse than 70.00% of its industry peers.
In the last couple of years the Profit Margin of ASRNL has remained more or less at the same level.
Looking at the Operating Margin, with a value of 9.43%, ASRNL is in line with its industry, outperforming 50.00% of the companies in the same industry.
In the last couple of years the Operating Margin of ASRNL has declined.
Industry RankSector Rank
OM 9.43%
PM (TTM) 5.43%
GM N/A
OM growth 3Y-3.48%
OM growth 5Y-5.98%
PM growth 3Y7.97%
PM growth 5Y-0.63%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 -40 -60

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0

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ASRNL is destroying value.
The number of shares outstanding for ASRNL has been increased compared to 1 year ago.
ASRNL has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, ASRNL has a worse debt to assets ratio.
ASRNL.AS Yearly Shares OutstandingASRNL.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 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 50B 100B 150B

2.2 Solvency

The Debt to FCF ratio of ASRNL is 23.07, which is on the high side as it means it would take ASRNL, 23.07 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 23.07, ASRNL is not doing good in the industry: 76.67% of the companies in the same industry are doing better.
A Debt/Equity ratio of 0.90 indicates that ASRNL is somewhat dependend on debt financing.
The Debt to Equity ratio of ASRNL (0.90) is worse than 76.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF 23.07
Altman-Z N/A
ROIC/WACC0.04
WACC13.84%
ASRNL.AS Yearly LT Debt VS Equity VS FCFASRNL.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B 8B

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

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5

3. Growth

3.1 Past

ASRNL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 663.24%, which is quite impressive.
The Earnings Per Share has been growing slightly by 5.51% on average over the past years.
ASRNL shows a strong growth in Revenue. In the last year, the Revenue has grown by 62.32%.
The Revenue has been growing by 11.93% on average over the past years. This is quite good.
EPS 1Y (TTM)663.24%
EPS 3Y10.96%
EPS 5Y5.51%
EPS Q2Q%-120.79%
Revenue 1Y (TTM)62.32%
Revenue growth 3Y10.64%
Revenue growth 5Y11.93%
Sales Q2Q%29.86%

3.2 Future

Based on estimates for the next years, ASRNL will show a small growth in Earnings Per Share. The EPS will grow by 5.13% on average per year.
Based on estimates for the next years, ASRNL will show a decrease in Revenue. The Revenue will decrease by -5.53% on average per year.
EPS Next Y-17.88%
EPS Next 2Y3.83%
EPS Next 3Y4.92%
EPS Next 5Y5.13%
Revenue Next Year-0.81%
Revenue Next 2Y1.04%
Revenue Next 3Y3.73%
Revenue Next 5Y-5.53%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same 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 decreasing.
ASRNL.AS Yearly Revenue VS EstimatesASRNL.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B 10B
ASRNL.AS Yearly EPS VS EstimatesASRNL.AS 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

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3

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 18.33 indicates a rather expensive valuation of ASRNL.
Compared to the rest of the industry, the Price/Earnings ratio of ASRNL indicates a slightly more expensive valuation: ASRNL is more expensive than 76.67% of the companies listed in the same industry.
ASRNL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.47.
Based on the Price/Forward Earnings ratio of 9.09, the valuation of ASRNL can be described as reasonable.
ASRNL's Price/Forward Earnings ratio is in line with the industry average.
ASRNL is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 18.33
Fwd PE 9.09
ASRNL.AS Price Earnings VS Forward Price EarningsASRNL.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ASRNL indicates a somewhat cheap valuation: ASRNL is cheaper than 63.33% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, ASRNL is valued a bit more expensive than 70.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 27.51
EV/EBITDA 10.01
ASRNL.AS Per share dataASRNL.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)3.33
EPS Next 2Y3.83%
EPS Next 3Y4.92%

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6

5. Dividend

5.1 Amount

ASRNL has a Yearly Dividend Yield of 6.23%, which is a nice return.
ASRNL's Dividend Yield is a higher than the industry average which is at 5.01.
Compared to an average S&P500 Dividend Yield of 2.28, ASRNL pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.23%

5.2 History

On average, the dividend of ASRNL grows each year by 32.50%, which is quite nice.
Dividend Growth(5Y)32.5%
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 0.5 1 1.5 2 2.5

5.3 Sustainability

99.84% of the earnings are spent on dividend by ASRNL. This is not a sustainable payout ratio.
ASRNL's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP99.84%
EPS Next 2Y3.83%
EPS Next 3Y4.92%
ASRNL.AS Yearly Income VS Free CF VS DividendASRNL.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 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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ASR NEDERLAND NV

AMS:ASRNL (2/5/2025, 10:27:02 AM)

47.12

-0.09 (-0.19%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)08-21 2024-08-21
Earnings (Next)02-19 2025-02-19/amc
Inst Owners88.68%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap9.96B
Analysts84.35
Price Target55.5 (17.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.23%
Yearly Dividend2.7
Dividend Growth(5Y)32.5%
DP99.84%
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)0.59%
PT rev (3m)1.82%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.45%
EPS NY rev (3m)1.45%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)4.33%
Revenue NY rev (3m)4.33%
Valuation
Industry RankSector Rank
PE 18.33
Fwd PE 9.09
P/S 0.88
P/FCF 27.51
P/OCF 24.17
P/B 1.08
P/tB 1.15
EV/EBITDA 10.01
EPS(TTM)2.57
EY5.45%
EPS(NY)5.18
Fwd EY11%
FCF(TTM)1.71
FCFY3.64%
OCF(TTM)1.95
OCFY4.14%
SpS53.38
BVpS43.72
TBVpS40.82
PEG (NY)N/A
PEG (5Y)3.33
Profitability
Industry RankSector Rank
ROA 0.41%
ROE 6.63%
ROCE 0.72%
ROIC 0.55%
ROICexc 0.56%
ROICexgc 0.62%
OM 9.43%
PM (TTM) 5.43%
GM N/A
FCFM 3.21%
ROA(3y)-0.32%
ROA(5y)0.23%
ROE(3y)-1.77%
ROE(5y)3.86%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-13.83%
ROICexcg growth 5Y-10.72%
ROICexc growth 3Y-12.74%
ROICexc growth 5Y-11.45%
OM growth 3Y-3.48%
OM growth 5Y-5.98%
PM growth 3Y7.97%
PM growth 5Y-0.63%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF 23.07
Debt/EBITDA 7.22
Cap/Depr 53.76%
Cap/Sales 0.44%
Interest Coverage 0.67
Cash Conversion 35.61%
Profit Quality 59.05%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC13.84%
ROIC/WACC0.04
Cap/Depr(3y)392.21%
Cap/Depr(5y)246.23%
Cap/Sales(3y)3.25%
Cap/Sales(5y)2.02%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)663.24%
EPS 3Y10.96%
EPS 5Y5.51%
EPS Q2Q%-120.79%
EPS Next Y-17.88%
EPS Next 2Y3.83%
EPS Next 3Y4.92%
EPS Next 5Y5.13%
Revenue 1Y (TTM)62.32%
Revenue growth 3Y10.64%
Revenue growth 5Y11.93%
Sales Q2Q%29.86%
Revenue Next Year-0.81%
Revenue Next 2Y1.04%
Revenue Next 3Y3.73%
Revenue Next 5Y-5.53%
EBIT growth 1Y139.64%
EBIT growth 3Y6.79%
EBIT growth 5Y5.23%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y149.66%
FCF growth 3Y118.76%
FCF growth 5Y37.05%
OCF growth 1Y-37.1%
OCF growth 3Y116.31%
OCF growth 5Y37.09%