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NN GROUP NV (NN.AS) Stock Fundamental Analysis

AMS:NN - NL0010773842 - Common Stock

61.26 EUR
+0.02 (+0.03%)
Last: 8/22/2025, 7:00:00 PM
Fundamental Rating

5

Taking everything into account, NN scores 5 out of 10 in our fundamental rating. NN was compared to 37 industry peers in the Insurance industry. NN has only an average score on both its financial health and profitability. NN has a correct valuation and a medium growth rate. NN also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year NN was profitable.
NN had a negative operating cash flow in the past year.
In the past 5 years NN has always been profitable.
In multiple years NN reported negative operating cash flow during the last 5 years.
NN.AS Yearly Net Income VS EBIT VS OCF VS FCFNN.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 5B -5B

1.2 Ratios

With a Return On Assets value of 0.72%, NN is not doing good in the industry: 62.16% of the companies in the same industry are doing better.
NN has a worse Return On Equity (7.03%) than 81.08% of its industry peers.
NN's Return On Invested Capital of 0.49% is on the low side compared to the rest of the industry. NN is outperformed by 67.57% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NN is in line with the industry average of 2.19%.
The 3 year average ROIC (0.31%) for NN is below the current ROIC(0.49%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.72%
ROE 7.03%
ROIC 0.49%
ROA(3y)0.67%
ROA(5y)0.8%
ROE(3y)6.62%
ROE(5y)6.79%
ROIC(3y)0.31%
ROIC(5y)0.56%
NN.AS Yearly ROA, ROE, ROICNN.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

Looking at the Profit Margin, with a value of 12.26%, NN is in the better half of the industry, outperforming 72.97% of the companies in the same industry.
In the last couple of years the Profit Margin of NN has grown nicely.
Looking at the Operating Margin, with a value of 10.19%, NN is in line with its industry, outperforming 43.24% of the companies in the same industry.
In the last couple of years the Operating Margin of NN has remained more or less at the same level.
Industry RankSector Rank
OM 10.19%
PM (TTM) 12.26%
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
NN.AS Yearly Profit, Operating, Gross MarginsNN.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

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5

2. Health

2.1 Basic Checks

NN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
NN has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, NN has less shares outstanding
The debt/assets ratio for NN has been reduced compared to a year ago.
NN.AS Yearly Shares OutstandingNN.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
NN.AS Yearly Total Debt VS Total AssetsNN.AS 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

Based on the Altman-Z score of 0.12, we must say that NN is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.12, NN is in the better half of the industry, outperforming 75.68% of the companies in the same industry.
NN has a Debt/Equity ratio of 0.55. This is a neutral value indicating NN is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.55, NN is doing good in the industry, outperforming 72.97% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF N/A
Altman-Z 0.12
ROIC/WACC0.06
WACC8.16%
NN.AS Yearly LT Debt VS Equity VS FCFNN.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 10B 20B 30B

2.3 Liquidity

A Current Ratio of 1.05 indicates that NN should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.05, NN belongs to the best of the industry, outperforming 94.59% of the companies in the same industry.
NN has a Quick Ratio of 1.05. This is a normal value and indicates that NN is financially healthy and should not expect problems in meeting its short term obligations.
NN has a better Quick ratio (1.05) than 94.59% of its industry peers.
Industry RankSector Rank
Current Ratio 1.05
Quick Ratio 1.05
NN.AS Yearly Current Assets VS Current LiabilitesNN.AS 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

The Earnings Per Share has grown by an impressive 38.30% over the past year.
NN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.60% yearly.
The Revenue has been growing slightly by 0.12% in the past year.
NN shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -12.53% yearly.
EPS 1Y (TTM)38.3%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%66.24%
Revenue 1Y (TTM)0.12%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%-3.11%

3.2 Future

Based on estimates for the next years, NN will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.24% on average per year.
The Revenue is expected to grow by 2.13% on average over the next years.
EPS Next Y9.69%
EPS Next 2Y7.51%
EPS Next 3Y7.54%
EPS Next 5Y8.24%
Revenue Next Year2.43%
Revenue Next 2Y3.03%
Revenue Next 3Y3.29%
Revenue Next 5Y2.13%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
NN.AS Yearly Revenue VS EstimatesNN.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 5B 10B 15B 20B
NN.AS Yearly EPS VS EstimatesNN.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 10.96, the valuation of NN can be described as reasonable.
Based on the Price/Earnings ratio, NN is valued cheaper than 81.08% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.24, NN is valued rather cheaply.
NN is valuated reasonably with a Price/Forward Earnings ratio of 8.67.
Based on the Price/Forward Earnings ratio, NN is valued cheaper than 94.59% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of NN to the average of the S&P500 Index (35.82), we can say NN is valued rather cheaply.
Industry RankSector Rank
PE 10.96
Fwd PE 8.67
NN.AS Price Earnings VS Forward Price EarningsNN.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as NN.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.02
NN.AS Per share dataNN.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80

4.3 Compensation for Growth

NN's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.13
PEG (5Y)N/A
EPS Next 2Y7.51%
EPS Next 3Y7.54%

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7

5. Dividend

5.1 Amount

NN has a Yearly Dividend Yield of 5.78%, which is a nice return.
Compared to an average industry Dividend Yield of 4.34, NN pays a better dividend. On top of this NN pays more dividend than 83.78% of the companies listed in the same industry.
NN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 5.78%

5.2 History

The dividend of NN is nicely growing with an annual growth rate of 15.91%!
Dividend Growth(5Y)15.91%
Div Incr Years6
Div Non Decr Years6
NN.AS Yearly Dividends per shareNN.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

NN pays out 45.68% of its income as dividend. This is a bit on the high side, but may be sustainable.
NN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP45.68%
EPS Next 2Y7.51%
EPS Next 3Y7.54%
NN.AS Yearly Income VS Free CF VS DividendNN.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 5B -5B
NN.AS Dividend Payout.NN.AS Dividend Payout, showing the Payout Ratio.NN.AS Dividend Payout.PayoutRetained Earnings

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NN GROUP NV

AMS:NN (8/22/2025, 7:00:00 PM)

61.26

+0.02 (+0.03%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)08-08 2025-08-08
Earnings (Next)02-18 2026-02-18/amc
Inst Owners52.27%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap16.48B
Analysts75.83
Price Target62.51 (2.04%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.78%
Yearly Dividend2.56
Dividend Growth(5Y)15.91%
DP45.68%
Div Incr Years6
Div Non Decr Years6
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)4.96%
PT rev (3m)13.85%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.12%
Revenue NY rev (3m)-0.12%
Valuation
Industry RankSector Rank
PE 10.96
Fwd PE 8.67
P/S 1.33
P/FCF N/A
P/OCF N/A
P/B 0.76
P/tB 0.81
EV/EBITDA 15.02
EPS(TTM)5.59
EY9.13%
EPS(NY)7.07
Fwd EY11.54%
FCF(TTM)-1.77
FCFYN/A
OCF(TTM)-1.49
OCFYN/A
SpS45.99
BVpS80.17
TBVpS75.61
PEG (NY)1.13
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.72%
ROE 7.03%
ROCE 0.61%
ROIC 0.49%
ROICexc 0.5%
ROICexgc 0.67%
OM 10.19%
PM (TTM) 12.26%
GM N/A
FCFM N/A
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%
ROICexcg growth 3Y-14.7%
ROICexcg 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-Score5
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF N/A
Debt/EBITDA 8.29
Cap/Depr 47.13%
Cap/Sales 0.6%
Interest Coverage 0.93
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.05
Quick Ratio 1.05
Altman-Z 0.12
F-Score5
WACC8.16%
ROIC/WACC0.06
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)38.3%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%66.24%
EPS Next Y9.69%
EPS Next 2Y7.51%
EPS Next 3Y7.54%
EPS Next 5Y8.24%
Revenue 1Y (TTM)0.12%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%-3.11%
Revenue Next Year2.43%
Revenue Next 2Y3.03%
Revenue Next 3Y3.29%
Revenue Next 5Y2.13%
EBIT growth 1Y32.04%
EBIT growth 3Y-20.73%
EBIT growth 5Y-11.93%
EBIT Next Year9.08%
EBIT Next 3Y4.46%
EBIT Next 5YN/A
FCF growth 1Y-866.13%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-746.77%
OCF growth 3YN/A
OCF growth 5YN/A