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NN GROUP NV (NN.AS) Stock Fundamental Analysis

AMS:NN - Euronext Amsterdam - NL0010773842 - Common Stock - Currency: EUR

55.95  -0.37 (-0.66%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NN. NN was compared to 38 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 is not valued too expensively and it also shows a decent growth rate. Finally 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.
In the past year NN has reported a negative cash flow from operations.
Each year in the past 5 years NN has 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

NN has a worse Return On Assets (0.72%) than 60.00% of its industry peers.
NN has a Return On Equity of 7.03%. This is in the lower half of the industry: NN underperforms 77.50% 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 70.00% of its industry peers.
NN had an Average Return On Invested Capital over the past 3 years of 0.31%. This is in line with the industry average of 2.06%.
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

NN has a Profit Margin of 12.26%. This is in the better half of the industry: NN outperforms 75.00% 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 10.19%, NN is in line with its industry, outperforming 45.00% of the companies in the same industry.
NN's Operating Margin has been stable in the last couple of years.
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.
The number of shares outstanding for NN has been reduced compared to 5 years ago.
Compared to 1 year ago, NN has an improved debt to assets ratio.
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.
With a decent Altman-Z score value of 0.12, NN is doing good in the industry, outperforming 77.50% of the companies in the same industry.
A Debt/Equity ratio of 0.55 indicates that NN is somewhat dependend on debt financing.
NN has a Debt to Equity ratio (0.55) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF N/A
Altman-Z 0.12
ROIC/WACC0.06
WACC8.32%
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 95.00% of the companies in the same industry.
A Quick Ratio of 1.05 indicates that NN should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.05, NN belongs to the top of the industry, outperforming 95.00% of the companies in the same industry.
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.
The Earnings Per Share has been decreasing by -0.60% on average over the past years.
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 small growth in Earnings Per Share. The EPS will grow by 7.92% on average per year.
Based on estimates for the next years, NN will show a small growth in Revenue. The Revenue will grow by 1.63% on average per year.
EPS Next Y9.69%
EPS Next 2Y7.51%
EPS Next 3Y7.54%
EPS Next 5Y7.92%
Revenue Next Year2.55%
Revenue Next 2Y2.89%
Revenue Next 3Y-13.13%
Revenue Next 5Y1.63%

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

NN is valuated reasonably with a Price/Earnings ratio of 10.01.
Based on the Price/Earnings ratio, NN is valued cheaply inside the industry as 87.50% of the companies are valued more expensively.
NN is valuated cheaply when we compare the Price/Earnings ratio to 27.45, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 7.91, the valuation of NN can be described as very cheap.
Based on the Price/Forward Earnings ratio, NN is valued cheaper than 92.50% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of NN to the average of the S&P500 Index (21.89), we can say NN is valued rather cheaply.
Industry RankSector Rank
PE 10.01
Fwd PE 7.91
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 40

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NN is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 14.01
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)1.03
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 6.11%, which is a nice return.
Compared to an average industry Dividend Yield of 4.58, NN pays a better dividend. On top of this NN pays more dividend than 85.00% 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 2.37.
Industry RankSector Rank
Dividend Yield 6.11%

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.
The dividend of NN is growing, but the earnings are growing slower. 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 (6/25/2025, 3:19:15 PM)

55.95

-0.37 (-0.66%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-20 2025-02-20/amc
Earnings (Next)08-08 2025-08-08
Inst Owners52.27%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap15.05B
Analysts73.33
Price Target57.37 (2.54%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.11%
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)8.47%
PT rev (3m)10.24%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.79%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.91%
Valuation
Industry RankSector Rank
PE 10.01
Fwd PE 7.91
P/S 1.22
P/FCF N/A
P/OCF N/A
P/B 0.7
P/tB 0.74
EV/EBITDA 14.01
EPS(TTM)5.59
EY9.99%
EPS(NY)7.07
Fwd EY12.64%
FCF(TTM)-1.77
FCFYN/A
OCF(TTM)-1.49
OCFYN/A
SpS45.99
BVpS80.17
TBVpS75.61
PEG (NY)1.03
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
WACC8.32%
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 5Y7.92%
Revenue 1Y (TTM)0.12%
Revenue growth 3Y-19.29%
Revenue growth 5Y-12.53%
Sales Q2Q%-3.11%
Revenue Next Year2.55%
Revenue Next 2Y2.89%
Revenue Next 3Y-13.13%
Revenue Next 5Y1.63%
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