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NUERNBERGER BETEILIG-AKT 'B' (NBG6.DE) Stock Fundamental Analysis

Europe - FRA:NBG6 - DE0008435967 - Common Stock

63.4 EUR
-2.4 (-3.65%)
Last: 9/12/2025, 7:00:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to NBG6. NBG6 was compared to 40 industry peers in the Insurance industry. The financial health of NBG6 is average, but there are quite some concerns on its profitability. While showing a medium growth rate, NBG6 is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

NBG6 had negative earnings in the past year.
NBG6 had a positive operating cash flow in the past year.
Each year in the past 5 years NBG6 has been profitable.
The reported operating cash flow has been mixed in the past 5 years: NBG6 reported negative operating cash flow in multiple years.
NBG6.DE Yearly Net Income VS EBIT VS OCF VS FCFNBG6.DE 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 0 -500M -1B -1.5B -2B

1.2 Ratios

The Return On Assets of NBG6 (-0.01%) is worse than 92.50% of its industry peers.
NBG6 has a worse Return On Equity (-0.37%) than 92.50% of its industry peers.
Looking at the Return On Invested Capital, with a value of 0.34%, NBG6 is doing worse than 75.00% of the companies in the same industry.
Industry RankSector Rank
ROA -0.01%
ROE -0.37%
ROIC 0.34%
ROA(3y)0.17%
ROA(5y)0.19%
ROE(3y)6.19%
ROE(5y)7.04%
ROIC(3y)N/A
ROIC(5y)N/A
NBG6.DE Yearly ROA, ROE, ROICNBG6.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10

1.3 Margins

In the last couple of years the Profit Margin of NBG6 has declined.
NBG6 has a Operating Margin of 2.98%. This is amonst the worse of the industry: NBG6 underperforms 82.50% of its industry peers.
NBG6 does not have Profit Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM 2.98%
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-18.7%
PM growth 5Y-6.85%
GM growth 3YN/A
GM growth 5YN/A
NBG6.DE Yearly Profit, Operating, Gross MarginsNBG6.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -20 -40

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NBG6 is destroying value.
Compared to 1 year ago, NBG6 has about the same amount of shares outstanding.
NBG6 has about the same amout of shares outstanding than it did 5 years ago.
Compared to 1 year ago, NBG6 has an improved debt to assets ratio.
NBG6.DE Yearly Shares OutstandingNBG6.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
NBG6.DE Yearly Total Debt VS Total AssetsNBG6.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B

2.2 Solvency

Based on the Altman-Z score of -0.16, we must say that NBG6 is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of NBG6 (-0.16) is better than 70.00% of its industry peers.
The Debt to FCF ratio of NBG6 is 0.11, which is an excellent value as it means it would take NBG6, only 0.11 years of fcf income to pay off all of its debts.
NBG6 has a Debt to FCF ratio of 0.11. This is amongst the best in the industry. NBG6 outperforms 100.00% of its industry peers.
A Debt/Equity ratio of 0.02 indicates that NBG6 is not too dependend on debt financing.
NBG6 has a Debt to Equity ratio of 0.02. This is amongst the best in the industry. NBG6 outperforms 97.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.11
Altman-Z -0.16
ROIC/WACC0.05
WACC7.18%
NBG6.DE Yearly LT Debt VS Equity VS FCFNBG6.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M

2.3 Liquidity

A Current Ratio of 0.01 indicates that NBG6 may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.01, NBG6 is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
A Quick Ratio of 0.01 indicates that NBG6 may have some problems paying its short term obligations.
NBG6 has a better Quick ratio (0.01) than 62.50% of its industry peers.
Industry RankSector Rank
Current Ratio 0.01
Quick Ratio 0.01
NBG6.DE Yearly Current Assets VS Current LiabilitesNBG6.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

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5

3. Growth

3.1 Past

NBG6 shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -104.33%.
Measured over the past years, NBG6 shows a decrease in Earnings Per Share. The EPS has been decreasing by -6.63% on average per year.
Looking at the last year, NBG6 shows a small growth in Revenue. The Revenue has grown by 7.23% in the last year.
The Revenue has been growing slightly by 0.24% on average over the past years.
EPS 1Y (TTM)-104.33%
EPS 3Y-18.6%
EPS 5Y-6.63%
EPS Q2Q%-212.95%
Revenue 1Y (TTM)7.23%
Revenue growth 3Y0.12%
Revenue growth 5Y0.24%
Sales Q2Q%13.91%

3.2 Future

Based on estimates for the next years, NBG6 will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.41% on average per year.
The Revenue is expected to grow by 12.01% on average over the next years. This is quite good.
EPS Next Y-227.93%
EPS Next 2Y-16.86%
EPS Next 3Y8.41%
EPS Next 5YN/A
Revenue Next Year65.17%
Revenue Next 2Y23.67%
Revenue Next 3Y16.01%
Revenue Next 5Y12.01%

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 accelerating.
NBG6.DE Yearly Revenue VS EstimatesNBG6.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B 4B 5B
NBG6.DE Yearly EPS VS EstimatesNBG6.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 0 2 -2 4 -4 6 -6

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2

4. Valuation

4.1 Price/Earnings Ratio

NBG6 reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
NBG6 is valuated rather expensively with a Price/Forward Earnings ratio of 17.26.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NBG6 indicates a rather expensive valuation: NBG6 more expensive than 85.00% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of NBG6 to the average of the S&P500 Index (22.73), we can say NBG6 is valued slightly cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 17.26
NBG6.DE Price Earnings VS Forward Price EarningsNBG6.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -50 -100 -150 -200

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, NBG6 is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 5.34
EV/EBITDA N/A
NBG6.DE Per share dataNBG6.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 200 300

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-16.86%
EPS Next 3Y8.41%

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2

5. Dividend

5.1 Amount

With a yearly dividend of 0.21%, NBG6 is not a good candidate for dividend investing.
With a Dividend Yield of 0.21, NBG6 pays less dividend than the industry average, which is at 4.48. 90.00% of the companies listed in the same industry pay a better dividend than NBG6!
With a Dividend Yield of 0.21, NBG6 pays less dividend than the S&P500 average, which is at 2.41.
Industry RankSector Rank
Dividend Yield 0.21%

5.2 History

The dividend of NBG6 has a limited annual growth rate of 3.13%.
Dividend Growth(5Y)3.13%
Div Incr Years0
Div Non Decr Years5
NBG6.DE Yearly Dividends per shareNBG6.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

NBG6 has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of NBG6 is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-1218.72%
EPS Next 2Y-16.86%
EPS Next 3Y8.41%
NBG6.DE Yearly Income VS Free CF VS DividendNBG6.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M -400M

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NUERNBERGER BETEILIG-AKT 'B'

FRA:NBG6 (9/12/2025, 7:00:00 PM)

63.4

-2.4 (-3.65%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)09-19 2024-09-19
Earnings (Next)N/A N/A
Inst Owners20.04%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap729.73M
Analysts80
Price Target68.85 (8.6%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.21%
Yearly Dividend3.5
Dividend Growth(5Y)3.13%
DP-1218.72%
Div Incr Years0
Div Non Decr Years5
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)12.5%
PT rev (3m)12.5%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-2.38%
EPS NY rev (3m)-2.38%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)9.66%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 17.26
P/S 0.16
P/FCF 5.34
P/OCF 4.53
P/B 0.82
P/tB 0.93
EV/EBITDA N/A
EPS(TTM)-0.29
EYN/A
EPS(NY)3.67
Fwd EY5.79%
FCF(TTM)11.87
FCFY18.72%
OCF(TTM)13.99
OCFY22.06%
SpS394.07
BVpS76.97
TBVpS68.17
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.01%
ROE -0.37%
ROCE 0.53%
ROIC 0.34%
ROICexc 0.35%
ROICexgc 0.61%
OM 2.98%
PM (TTM) N/A
GM N/A
FCFM 3.01%
ROA(3y)0.17%
ROA(5y)0.19%
ROE(3y)6.19%
ROE(5y)7.04%
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 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-18.7%
PM growth 5Y-6.85%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.11
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 0.54%
Interest Coverage 250
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.01
Quick Ratio 0.01
Altman-Z -0.16
F-Score4
WACC7.18%
ROIC/WACC0.05
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)1.06%
Cap/Sales(5y)1.03%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-104.33%
EPS 3Y-18.6%
EPS 5Y-6.63%
EPS Q2Q%-212.95%
EPS Next Y-227.93%
EPS Next 2Y-16.86%
EPS Next 3Y8.41%
EPS Next 5YN/A
Revenue 1Y (TTM)7.23%
Revenue growth 3Y0.12%
Revenue growth 5Y0.24%
Sales Q2Q%13.91%
Revenue Next Year65.17%
Revenue Next 2Y23.67%
Revenue Next 3Y16.01%
Revenue Next 5Y12.01%
EBIT growth 1Y-62.16%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year95.15%
EBIT Next 3Y27.57%
EBIT Next 5YN/A
FCF growth 1Y146.09%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y163.31%
OCF growth 3YN/A
OCF growth 5YN/A