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ASR NEDERLAND NV (ASRNL.AS) Stock Fundamental Analysis

Europe - AMS:ASRNL - NL0011872643 - Common Stock

58.4 EUR
+0.22 (+0.38%)
Last: 10/14/2025, 7:00:00 PM
Fundamental Rating

3

Overall ASRNL gets a fundamental rating of 3 out of 10. We evaluated ASRNL against 40 industry peers in the Insurance industry. ASRNL may be in some trouble as it scores bad on both profitability and health. ASRNL has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ASRNL was profitable.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B 3B

1.2 Ratios

With a Return On Assets value of 0.76%, ASRNL perfoms like the industry average, outperforming 42.50% of the companies in the same industry.
ASRNL's Return On Equity of 10.90% is on the low side compared to the rest of the industry. ASRNL is outperformed by 70.00% of its industry peers.
With an excellent Return On Invested Capital value of 3.59%, ASRNL belongs to the best of the industry, outperforming 87.50% of the companies in the same industry.
Industry RankSector Rank
ROA 0.76%
ROE 10.9%
ROIC 3.59%
ROA(3y)-0.5%
ROA(5y)0.09%
ROE(3y)-2.82%
ROE(5y)2.67%
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 2024 0 10 -10 -20

1.3 Margins

ASRNL has a worse Profit Margin (6.52%) than 67.50% of its industry peers.
ASRNL's Profit Margin has declined in the last couple of years.
ASRNL's Operating Margin of 40.37% is amongst the best of the industry. ASRNL outperforms 97.50% of its industry peers.
In the last couple of years the Operating Margin of ASRNL has remained more or less at the same level.
Industry RankSector Rank
OM 40.37%
PM (TTM) 6.52%
GM N/A
OM growth 3Y3.92%
OM growth 5Y-0.14%
PM growth 3Y-6.35%
PM growth 5Y-7.93%
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 2024 0 20 -20 -40

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ASRNL is destroying value.
ASRNL has less shares outstanding than it did 1 year ago.
ASRNL has more shares outstanding than it did 5 years ago.
ASRNL has a better debt/assets ratio than last year.
ASRNL.AS Yearly Shares OutstandingASRNL.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 50B 100B 150B

2.2 Solvency

ASRNL has a debt to FCF ratio of 179.66. This is a negative value and a sign of low solvency as ASRNL would need 179.66 years to pay back of all of its debts.
With a Debt to FCF ratio value of 179.66, ASRNL is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
ASRNL has a Debt/Equity ratio of 0.97. This is a neutral value indicating ASRNL is somewhat dependend on debt financing.
ASRNL has a Debt to Equity ratio of 0.97. This is in the lower half of the industry: ASRNL underperforms 70.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 179.66
Altman-Z N/A
ROIC/WACC0.23
WACC15.55%
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 2024 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 2024 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 68.75%, which is quite impressive.
The Earnings Per Share has been decreasing by -8.32% on average over the past years.
Looking at the last year, ASRNL shows a quite strong growth in Revenue. The Revenue has grown by 12.18% in the last year.
The Revenue has been growing slightly by 7.88% on average over the past years.
EPS 1Y (TTM)68.75%
EPS 3Y-12.51%
EPS 5Y-8.32%
EPS Q2Q%214.29%
Revenue 1Y (TTM)12.18%
Revenue growth 3Y6.3%
Revenue growth 5Y7.88%
Sales Q2Q%17.62%

3.2 Future

Based on estimates for the next years, ASRNL will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.52% on average per year.
The Revenue is expected to grow by 1.90% on average over the next years.
EPS Next Y18.07%
EPS Next 2Y22.51%
EPS Next 3Y16.85%
EPS Next 5Y10.52%
Revenue Next Year-22.19%
Revenue Next 2Y-10.51%
Revenue Next 3Y1.9%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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 2B 4B 6B 8B 10B
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 2 4 6

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 13.52 indicates a correct valuation of ASRNL.
Compared to the rest of the industry, the Price/Earnings ratio of ASRNL is on the same level as its industry peers.
ASRNL's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.50.
The Price/Forward Earnings ratio is 9.95, which indicates a very decent valuation of ASRNL.
ASRNL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ASRNL is cheaper than 67.50% of the companies in the same industry.
ASRNL is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.99, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.52
Fwd PE 9.95
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 Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. ASRNL is cheaper than 95.00% of the companies in the same industry.
ASRNL's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. ASRNL is more expensive than 77.50% of the companies in the same industry.
Industry RankSector Rank
P/FCF 230.42
EV/EBITDA 2.05
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

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as ASRNL's earnings are expected to grow with 16.85% in the coming years.
PEG (NY)0.75
PEG (5Y)N/A
EPS Next 2Y22.51%
EPS Next 3Y16.85%

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6

5. Dividend

5.1 Amount

ASRNL has a Yearly Dividend Yield of 5.58%, which is a nice return.
Compared to an average industry Dividend Yield of 4.48, ASRNL pays a bit more dividend than its industry peers.
ASRNL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
Industry RankSector Rank
Dividend Yield 5.58%

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 1 2 3

5.3 Sustainability

60.74% 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.
DP60.74%
EPS Next 2Y22.51%
EPS Next 3Y16.85%
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 2024 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 (10/14/2025, 7:00:00 PM)

58.4

+0.22 (+0.38%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)08-20 2025-08-20
Earnings (Next)02-17 2026-02-17/amc
Inst Owners75.64%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap12.21B
Analysts76.19
Price Target63.48 (8.7%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.58%
Yearly Dividend2.99
Dividend Growth(5Y)18.44%
DP60.74%
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)0.47%
PT rev (3m)6.52%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-13.85%
EPS NY rev (3m)-11.86%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-25.64%
Valuation
Industry RankSector Rank
PE 13.52
Fwd PE 9.95
P/S 0.74
P/FCF 230.42
P/OCF 165.03
P/B 1.24
P/tB 1.32
EV/EBITDA 2.05
EPS(TTM)4.32
EY7.4%
EPS(NY)5.87
Fwd EY10.05%
FCF(TTM)0.25
FCFY0.43%
OCF(TTM)0.35
OCFY0.61%
SpS78.82
BVpS47.16
TBVpS44.31
PEG (NY)0.75
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.76%
ROE 10.9%
ROCE 4.87%
ROIC 3.59%
ROICexc 3.68%
ROICexgc 4.28%
OM 40.37%
PM (TTM) 6.52%
GM N/A
FCFM 0.32%
ROA(3y)-0.5%
ROA(5y)0.09%
ROE(3y)-2.82%
ROE(5y)2.67%
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-10.55%
ROICexcg growth 5Y-6.2%
ROICexc growth 3Y-10.91%
ROICexc growth 5Y-6.29%
OM growth 3Y3.92%
OM growth 5Y-0.14%
PM growth 3Y-6.35%
PM growth 5Y-7.93%
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 1.41
Cap/Depr 18.58%
Cap/Sales 0.13%
Interest Coverage 1.85
Cash Conversion 1.09%
Profit Quality 4.93%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC15.55%
ROIC/WACC0.23
Cap/Depr(3y)150.16%
Cap/Depr(5y)245.19%
Cap/Sales(3y)1.79%
Cap/Sales(5y)1.92%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)68.75%
EPS 3Y-12.51%
EPS 5Y-8.32%
EPS Q2Q%214.29%
EPS Next Y18.07%
EPS Next 2Y22.51%
EPS Next 3Y16.85%
EPS Next 5Y10.52%
Revenue 1Y (TTM)12.18%
Revenue growth 3Y6.3%
Revenue growth 5Y7.88%
Sales Q2Q%17.62%
Revenue Next Year-22.19%
Revenue Next 2Y-10.51%
Revenue Next 3Y1.9%
Revenue Next 5YN/A
EBIT growth 1Y45.64%
EBIT growth 3Y10.47%
EBIT growth 5Y7.74%
EBIT Next Year113.82%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-48.04%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-57.47%
OCF growth 3YN/A
OCF growth 5YN/A