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ASR NEDERLAND NV (ASRNL.AS) Stock Fundamental Analysis

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

57.68  +0.74 (+1.3%)

Fundamental Rating

3

Taking everything into account, ASRNL scores 3 out of 10 in our fundamental rating. ASRNL was compared to 38 industry peers in the Insurance industry. ASRNL has a bad profitability rating. Also its financial health evaluation is rather negative. ASRNL has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

ASRNL had positive earnings in the past year.
ASRNL had a negative operating cash flow in the past year.
ASRNL had positive earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: ASRNL reported negative operating cash flow in multiple 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

ASRNL's Return On Assets of 0.64% is on the low side compared to the rest of the industry. ASRNL is outperformed by 71.05% of its industry peers.
ASRNL has a Return On Equity of 9.01%. This is in the lower half of the industry: ASRNL underperforms 71.05% of its industry peers.
The Return On Invested Capital of ASRNL (3.00%) is better than 84.21% of its industry peers.
Industry RankSector Rank
ROA 0.64%
ROE 9.01%
ROIC 3%
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

With a Profit Margin value of 5.79%, ASRNL is not doing good in the industry: 68.42% of the companies in the same industry are doing better.
ASRNL's Profit Margin has declined in the last couple of years.
ASRNL has a better Operating Margin (35.94%) than 97.37% of its industry peers.
ASRNL's Operating Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 35.94%
PM (TTM) 5.79%
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.
Compared to 5 years ago, ASRNL has more shares outstanding
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 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/Equity ratio of 1.09. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of ASRNL (1.09) is worse than 78.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.09
Debt/FCF N/A
Altman-Z N/A
ROIC/WACC0.19
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 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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4

3. Growth

3.1 Past

The earnings per share for ASRNL have decreased strongly by -31.60% in the last year.
ASRNL shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -8.32% yearly.
Looking at the last year, ASRNL shows a very strong growth in Revenue. The Revenue has grown by 31.67%.
Measured over the past years, ASRNL shows a small growth in Revenue. The Revenue has been growing by 7.88% on average per year.
EPS 1Y (TTM)-31.6%
EPS 3Y-12.51%
EPS 5Y-8.32%
EPS Q2Q%28.86%
Revenue 1Y (TTM)31.67%
Revenue growth 3Y6.3%
Revenue growth 5Y7.88%
Sales Q2Q%7.19%

3.2 Future

ASRNL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.14% yearly.
ASRNL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.00% yearly.
EPS Next Y33.96%
EPS Next 2Y18.93%
EPS Next 3Y17.51%
EPS Next 5Y9.14%
Revenue Next Year4.63%
Revenue Next 2Y4.52%
Revenue Next 3Y7%
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 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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4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 16.87, the valuation of ASRNL can be described as correct.
63.16% of the companies in the same industry are cheaper than ASRNL, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.30, ASRNL is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 11.01, the valuation of ASRNL can be described as reasonable.
The rest of the industry has a similar Price/Forward Earnings ratio as ASRNL.
ASRNL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.76.
Industry RankSector Rank
PE 16.87
Fwd PE 11.01
ASRNL.AS Price Earnings VS Forward Price EarningsASRNL.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

100.00% of the companies in the same industry are more expensive than ASRNL, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 2.32
ASRNL.AS Per share dataASRNL.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 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.
ASRNL's earnings are expected to grow with 17.50% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.5
PEG (5Y)N/A
EPS Next 2Y18.93%
EPS Next 3Y17.51%

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6

5. Dividend

5.1 Amount

ASRNL has a Yearly Dividend Yield of 5.57%, which is a nice return.
ASRNL's Dividend Yield is a higher than the industry average which is at 4.58.
Compared to an average S&P500 Dividend Yield of 2.37, ASRNL pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.57%

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 0.5 1 1.5 2 2.5

5.3 Sustainability

ASRNL pays out 71.32% of its income as dividend. This is not a sustainable payout ratio.
ASRNL's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP71.32%
EPS Next 2Y18.93%
EPS Next 3Y17.51%
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 (7/11/2025, 7:00:00 PM)

57.68

+0.74 (+1.3%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-19 2025-02-19/amc
Earnings (Next)08-20 2025-08-20
Inst Owners74.45%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap12.19B
Analysts80
Price Target59.59 (3.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.57%
Yearly Dividend2.99
Dividend Growth(5Y)18.44%
DP71.32%
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)3.07%
PT rev (3m)4.78%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.15%
Valuation
Industry RankSector Rank
PE 16.87
Fwd PE 11.01
P/S 0.8
P/FCF N/A
P/OCF N/A
P/B 1.25
P/tB 1.33
EV/EBITDA 2.32
EPS(TTM)3.42
EY5.93%
EPS(NY)5.24
Fwd EY9.09%
FCF(TTM)-3.45
FCFYN/A
OCF(TTM)-3.31
OCFYN/A
SpS72.13
BVpS46.31
TBVpS43.51
PEG (NY)0.5
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.64%
ROE 9.01%
ROCE 4.12%
ROIC 3%
ROICexc 3.1%
ROICexgc 3.52%
OM 35.94%
PM (TTM) 5.79%
GM N/A
FCFM N/A
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-Score4
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 1.09
Debt/FCF N/A
Debt/EBITDA 1.91
Cap/Depr 26.55%
Cap/Sales 0.2%
Interest Coverage 1.53
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC15.63%
ROIC/WACC0.19
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)-31.6%
EPS 3Y-12.51%
EPS 5Y-8.32%
EPS Q2Q%28.86%
EPS Next Y33.96%
EPS Next 2Y18.93%
EPS Next 3Y17.51%
EPS Next 5Y9.14%
Revenue 1Y (TTM)31.67%
Revenue growth 3Y6.3%
Revenue growth 5Y7.88%
Sales Q2Q%7.19%
Revenue Next Year4.63%
Revenue Next 2Y4.52%
Revenue Next 3Y7%
Revenue Next 5YN/A
EBIT growth 1Y84.63%
EBIT growth 3Y10.47%
EBIT growth 5Y7.74%
EBIT Next Year113.82%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-120.46%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-119.43%
OCF growth 3YN/A
OCF growth 5YN/A