NN GROUP NV (NN.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:NN • NL0010773842

67.8 EUR
-0.38 (-0.56%)
Last: Feb 5, 2026, 12:28 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to NN. NN was compared to 47 industry peers in the Insurance industry. Both the profitability and the financial health of NN get a neutral evaluation. Nothing too spectacular is happening here. NN has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year NN was profitable.
  • NN had a positive operating cash flow in the past year.
  • NN had positive earnings in each of the past 5 years.
  • 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B

1.2 Ratios

  • NN has a worse Return On Assets (0.61%) than 74.47% of its industry peers.
  • The Return On Equity of NN (5.84%) is worse than 82.98% of its industry peers.
  • NN has a Return On Invested Capital (0.43%) which is comparable to the rest of the industry.
  • NN had an Average Return On Invested Capital over the past 3 years of 0.31%. This is below the industry average of 2.92%.
  • The last Return On Invested Capital (0.43%) for NN is above the 3 year average (0.31%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.61%
ROE 5.84%
ROIC 0.43%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

  • NN's Profit Margin of 9.91% is in line compared to the rest of the industry. NN outperforms 59.57% of its industry peers.
  • In the last couple of years the Profit Margin of NN has grown nicely.
  • NN has a Operating Margin (8.71%) which is in line with its industry peers.
  • In the last couple of years the Operating Margin of NN has remained more or less at the same level.
Industry RankSector Rank
OM 8.71%
PM (TTM) 9.91%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10

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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.
  • The number of shares outstanding for NN has been reduced compared to 1 year ago.
  • NN has less shares outstanding than it did 5 years ago.
  • NN has a better debt/assets ratio than last year.
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

  • NN has an Altman-Z score of 0.14. This is a bad value and indicates that NN is not financially healthy and even has some risk of bankruptcy.
  • NN has a better Altman-Z score (0.14) than 76.60% of its industry peers.
  • The Debt to FCF ratio of NN is 70.44, which is on the high side as it means it would take NN, 70.44 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 70.44, NN is doing worse than 76.60% of the companies in the same industry.
  • NN has a Debt/Equity ratio of 0.62. This is a neutral value indicating NN is somewhat dependend on debt financing.
  • NN's Debt to Equity ratio of 0.62 is in line compared to the rest of the industry. NN outperforms 57.45% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Altman-Z 0.14
ROIC/WACC0.05
WACC7.92%
NN.AS Yearly LT Debt VS Equity VS FCFNN.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

2.3 Liquidity

  • A Current Ratio of 2.16 indicates that NN has no problem at all paying its short term obligations.
  • With an excellent Current ratio value of 2.16, NN belongs to the best of the industry, outperforming 93.62% of the companies in the same industry.
  • NN has a Quick Ratio of 2.16. This indicates that NN is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of NN (2.16) is better than 93.62% of its industry peers.
Industry RankSector Rank
Current Ratio 2.16
Quick Ratio 2.16
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 nice 10.68% 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 1.39% in the past year.
  • Measured over the past years, NN shows a very negative growth in Revenue. The Revenue has been decreasing by -12.53% on average per year.
EPS 1Y (TTM)10.68%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%-40.43%
Revenue 1Y (TTM)1.39%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%6.55%

3.2 Future

  • Based on estimates for the next years, NN will show a small growth in Earnings Per Share. The EPS will grow by 6.03% on average per year.
  • The Revenue is expected to grow by 2.10% on average over the next years.
EPS Next Y-2.92%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
EPS Next 5Y6.03%
Revenue Next Year0.22%
Revenue Next 2Y1.88%
Revenue Next 3Y2.5%
Revenue Next 5Y2.1%

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 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 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8

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4

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 14.43, NN is valued correctly.
  • NN's Price/Earnings ratio is in line with the industry average.
  • NN is valuated rather cheaply when we compare the Price/Earnings ratio to 28.25, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 8.40 indicates a reasonable valuation of NN.
  • 82.98% of the companies in the same industry are more expensive than NN, based on the Price/Forward Earnings ratio.
  • When comparing the Price/Forward Earnings ratio of NN to the average of the S&P500 Index (27.50), we can say NN is valued rather cheaply.
Industry RankSector Rank
PE 14.43
Fwd PE 8.4
NN.AS Price Earnings VS Forward Price EarningsNN.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • NN's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, NN is valued a bit more expensive than the industry average as 76.60% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 96.5
EV/EBITDA 18.95
NN.AS Per share dataNN.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y11.89%
EPS Next 3Y9.86%

More info and screens

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

6

5. Dividend

5.1 Amount

  • NN has a Yearly Dividend Yield of 5.35%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.09, NN pays a bit more dividend than its industry peers.
  • NN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 5.35%

5.2 History

  • On average, the dividend of NN grows each year by 15.91%, which is quite nice.
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

  • 73.42% of the earnings are spent on dividend by NN. This is not a sustainable payout ratio.
  • NN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP73.42%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
NN.AS Yearly Income VS Free CF VS DividendNN.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 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 (2/5/2026, 12:28:34 PM)

67.8

-0.38 (-0.56%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)08-08
Earnings (Next)02-12
Inst Owners59.04%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap18.24B
Revenue(TTM)12.76B
Net Income(TTM)1.26B
Analysts78.33
Price Target67.81 (0.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.35%
Yearly Dividend2.56
Dividend Growth(5Y)15.91%
DP73.42%
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)1.77%
PT rev (3m)5.56%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.33%
EPS NY rev (3m)-5.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 14.43
Fwd PE 8.4
P/S 1.43
P/FCF 96.5
P/OCF 73.25
P/B 0.84
P/tB 0.89
EV/EBITDA 18.95
EPS(TTM)4.7
EY6.93%
EPS(NY)8.07
Fwd EY11.9%
FCF(TTM)0.7
FCFY1.04%
OCF(TTM)0.93
OCFY1.37%
SpS47.42
BVpS80.46
TBVpS75.96
PEG (NY)N/A
PEG (5Y)N/A
Graham Number92.25
Profitability
Industry RankSector Rank
ROA 0.61%
ROE 5.84%
ROCE 0.54%
ROIC 0.43%
ROICexc 0.45%
ROICexgc 0.59%
OM 8.71%
PM (TTM) 9.91%
GM N/A
FCFM 1.48%
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%
ROICexgc growth 3Y-14.7%
ROICexgc 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-Score7
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Debt/EBITDA 10.56
Cap/Depr 40%
Cap/Sales 0.47%
Interest Coverage 0.78
Cash Conversion 19.75%
Profit Quality 14.95%
Current Ratio 2.16
Quick Ratio 2.16
Altman-Z 0.14
F-Score7
WACC7.92%
ROIC/WACC0.05
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)10.68%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%-40.43%
EPS Next Y-2.92%
EPS Next 2Y11.89%
EPS Next 3Y9.86%
EPS Next 5Y6.03%
Revenue 1Y (TTM)1.39%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%6.55%
Revenue Next Year0.22%
Revenue Next 2Y1.88%
Revenue Next 3Y2.5%
Revenue Next 5Y2.1%
EBIT growth 1Y62.43%
EBIT growth 3Y-20.73%
EBIT growth 5Y-11.93%
EBIT Next Year8.41%
EBIT Next 3Y3.51%
EBIT Next 5YN/A
FCF growth 1Y114.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y118.99%
OCF growth 3YN/A
OCF growth 5YN/A

NN GROUP NV / NN.AS FAQ

Can you provide the ChartMill fundamental rating for NN GROUP NV?

ChartMill assigns a fundamental rating of 4 / 10 to NN.AS.


Can you provide the valuation status for NN GROUP NV?

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


What is the profitability of NN stock?

NN GROUP NV (NN.AS) has a profitability rating of 3 / 10.


What is the expected EPS growth for NN GROUP NV (NN.AS) stock?

The Earnings per Share (EPS) of NN GROUP NV (NN.AS) is expected to decline by -2.92% in the next year.


Is the dividend of NN GROUP NV sustainable?

The dividend rating of NN GROUP NV (NN.AS) is 6 / 10 and the dividend payout ratio is 73.42%.