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NN GROUP NV (NN.AS) Stock Fundamental Analysis

Europe - AMS:NN - NL0010773842 - Common Stock

57.52 EUR
-1.66 (-2.81%)
Last: 9/16/2025, 4:02:10 PM
Fundamental Rating

5

Overall NN gets a fundamental rating of 5 out of 10. We evaluated NN against 43 industry peers in the Insurance industry. NN has only an average score on both its financial health and profitability. NN has a decent growth rate and is not valued too expensively. NN also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

NN had positive earnings in the past year.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B

1.2 Ratios

With a Return On Assets value of 0.61%, NN is not doing good in the industry: 76.74% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of 5.84%, NN is doing worse than 83.72% of the companies in the same industry.
With a Return On Invested Capital value of 0.43%, NN is not doing good in the industry: 67.44% of the companies in the same industry are doing better.
Measured over the past 3 years, the Average Return On Invested Capital for NN is in line with the industry average of 2.26%.
The 3 year average ROIC (0.31%) for NN is below the current ROIC(0.43%), indicating increased profibility in the last year.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

NN's Profit Margin of 9.91% is fine compared to the rest of the industry. NN outperforms 62.79% of its industry peers.
In the last couple of years the Profit Margin of NN has grown nicely.
Looking at the Operating Margin, with a value of 8.71%, NN is doing worse than 65.12% 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 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NN is destroying value.
NN has less shares outstanding than it did 1 year ago.
NN has less shares outstanding than it did 5 years ago.
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 0.13, we must say that NN is in the distress zone and has some risk of bankruptcy.
NN has a better Altman-Z score (0.13) than 81.40% of its industry peers.
NN has a debt to FCF ratio of 70.44. This is a negative value and a sign of low solvency as NN would need 70.44 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 70.44, NN is doing worse than 79.07% 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.
The Debt to Equity ratio of NN (0.62) is better than 60.47% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Altman-Z 0.13
ROIC/WACC0.05
WACC8.19%
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

NN has a Current Ratio of 2.16. This indicates that NN is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 2.16, NN belongs to the best of the industry, outperforming 93.02% of the companies in the same industry.
A Quick Ratio of 2.16 indicates that NN has no problem at all paying its short term obligations.
NN has a better Quick ratio (2.16) than 93.02% 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

NN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.80%, which is quite good.
Measured over the past years, NN shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.60% on average per year.
NN shows a small growth in Revenue. In the last year, the Revenue has grown by 1.39%.
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)10.8%
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

The Earnings Per Share is expected to grow by 8.27% on average over the next years. This is quite good.
Based on estimates for the next years, NN will show a small growth in Revenue. The Revenue will grow by 2.15% on average per year.
EPS Next Y7.69%
EPS Next 2Y10.17%
EPS Next 3Y8.59%
EPS Next 5Y8.27%
Revenue Next Year0.22%
Revenue Next 2Y1.88%
Revenue Next 3Y2.5%
Revenue Next 5Y2.15%

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 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

With a Price/Earnings ratio of 12.24, NN is valued correctly.
Based on the Price/Earnings ratio, NN is valued a bit cheaper than 62.79% of the companies in the same industry.
When comparing the Price/Earnings ratio of NN to the average of the S&P500 Index (27.27), we can say NN is valued rather cheaply.
With a Price/Forward Earnings ratio of 7.35, the valuation of NN can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NN indicates a rather cheap valuation: NN is cheaper than 90.70% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.77, NN is valued rather cheaply.
Industry RankSector Rank
PE 12.24
Fwd PE 7.35
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.
76.74% of the companies in the same industry are cheaper than NN, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 81.87
EV/EBITDA 17.03
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

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.59
PEG (5Y)N/A
EPS Next 2Y10.17%
EPS Next 3Y8.59%

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7

5. Dividend

5.1 Amount

NN has a Yearly Dividend Yield of 6.01%, which is a nice return.
NN's Dividend Yield is rather good when compared to the industry average which is at 4.56. NN pays more dividend than 86.05% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, NN pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.01%

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 73.42% of its income as dividend. This is not a sustainable payout ratio.
The dividend of NN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP73.42%
EPS Next 2Y10.17%
EPS Next 3Y8.59%
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 (9/16/2025, 4:02:10 PM)

57.52

-1.66 (-2.81%)

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 Cap15.47B
Analysts75
Price Target63.45 (10.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.01%
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)5.38%
PT rev (3m)16.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.82%
EPS NY rev (3m)-1.82%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.17%
Revenue NY rev (3m)-2.28%
Valuation
Industry RankSector Rank
PE 12.24
Fwd PE 7.35
P/S 1.21
P/FCF 81.87
P/OCF 62.14
P/B 0.71
P/tB 0.76
EV/EBITDA 17.03
EPS(TTM)4.7
EY8.17%
EPS(NY)7.82
Fwd EY13.6%
FCF(TTM)0.7
FCFY1.22%
OCF(TTM)0.93
OCFY1.61%
SpS47.42
BVpS80.46
TBVpS75.96
PEG (NY)1.59
PEG (5Y)N/A
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%
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-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 0.13
F-Score7
WACC8.19%
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)10.8%
EPS 3Y-18.75%
EPS 5Y-0.6%
EPS Q2Q%-40.43%
EPS Next Y7.69%
EPS Next 2Y10.17%
EPS Next 3Y8.59%
EPS Next 5Y8.27%
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 5Y2.15%
EBIT growth 1Y62.43%
EBIT growth 3Y-20.73%
EBIT growth 5Y-11.93%
EBIT Next Year9.08%
EBIT Next 3Y4.46%
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