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NN GROUP NV (NN.AS) Stock Fundamental Analysis

Europe - AMS:NN - NL0010773842 - Common Stock

59.22 EUR
-0.32 (-0.54%)
Last: 10/3/2025, 7:00:00 PM
Fundamental Rating

5

Overall NN gets a fundamental rating of 5 out of 10. We evaluated NN against 40 industry peers in the Insurance industry. NN scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. 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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3

1. Profitability

1.1 Basic Checks

NN had positive earnings in the past year.
In the past year NN had a positive cash flow from operations.
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

NN has a worse Return On Assets (0.61%) than 77.50% of its industry peers.
The Return On Equity of NN (5.84%) is worse than 85.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 0.43%, NN is doing worse than 65.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NN is below the industry average of 2.35%.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

NN has a Profit Margin (9.91%) which is in line with its industry peers.
In the last couple of years the Profit Margin of NN has grown nicely.
The Operating Margin of NN (8.71%) is worse than 65.00% of 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NN 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.
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

NN has an Altman-Z score of 0.13. This is a bad value and indicates that NN is not financially healthy and even has some risk of bankruptcy.
NN has a Altman-Z score of 0.13. This is in the better half of the industry: NN outperforms 77.50% 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.
NN's Debt to FCF ratio of 70.44 is on the low side compared to the rest of the industry. NN is outperformed by 77.50% of its industry peers.
NN has a Debt/Equity ratio of 0.62. This is a neutral value indicating NN is somewhat dependend on debt financing.
NN has a Debt to Equity ratio of 0.62. This is in the better half of the industry: NN outperforms 62.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 70.44
Altman-Z 0.13
ROIC/WACC0.05
WACC8.22%
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.
NN has a better Current ratio (2.16) than 90.00% of its industry peers.
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.
NN has a Quick ratio of 2.16. This is amongst the best in the industry. NN outperforms 90.00% 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 10.80% over the past year.
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.
Looking at the last year, NN shows a small growth in Revenue. The Revenue has grown by 1.39% in the last 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)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.
NN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.15% yearly.
EPS Next Y2.28%
EPS Next 2Y11.04%
EPS Next 3Y8.98%
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.
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.
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 2030 2 4 6 8

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4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 12.60, the valuation of NN can be described as correct.
Compared to the rest of the industry, the Price/Earnings ratio of NN is on the same level as its industry peers.
NN is valuated cheaply when we compare the Price/Earnings ratio to 27.86, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 7.45, which indicates a rather cheap valuation of NN.
Based on the Price/Forward Earnings ratio, NN is valued cheaper than 90.00% of the companies in the same industry.
NN is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.32, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 12.6
Fwd PE 7.45
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 is on the same level as the industry average.
NN's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. NN is more expensive than 75.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 84.29
EV/EBITDA 17.1
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 high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)5.53
PEG (5Y)N/A
EPS Next 2Y11.04%
EPS Next 3Y8.98%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.95%, NN is a good candidate for dividend investing.
NN's Dividend Yield is rather good when compared to the industry average which is at 4.62. NN pays more dividend than 87.50% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.41, NN pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.95%

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 2Y11.04%
EPS Next 3Y8.98%
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 (10/3/2025, 7:00:00 PM)

59.22

-0.32 (-0.54%)

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 Owners57.87%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap15.93B
Analysts75.83
Price Target64.16 (8.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.95%
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)1.51%
PT rev (3m)10.61%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-5.03%
EPS NY rev (3m)-6.75%
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 12.6
Fwd PE 7.45
P/S 1.25
P/FCF 84.29
P/OCF 63.98
P/B 0.74
P/tB 0.78
EV/EBITDA 17.1
EPS(TTM)4.7
EY7.94%
EPS(NY)7.95
Fwd EY13.42%
FCF(TTM)0.7
FCFY1.19%
OCF(TTM)0.93
OCFY1.56%
SpS47.42
BVpS80.46
TBVpS75.96
PEG (NY)5.53
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
WACC8.22%
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 Y2.28%
EPS Next 2Y11.04%
EPS Next 3Y8.98%
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 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