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NN GROUP NV (NN.AS) Stock Fundamental Analysis

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

56.56  +0.16 (+0.28%)

Fundamental Rating

5

Taking everything into account, NN scores 5 out of 10 in our fundamental rating. NN was compared to 38 industry peers in the Insurance industry. NN has an average financial health and profitability rating. 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.
In the past 5 years NN has always been profitable.
The reported operating cash flow has been mixed in the past 5 years: NN reported negative operating cash flow in multiple 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 Return On Assets (0.72%) which is comparable to the rest of the industry.
With a Return On Equity value of 7.03%, NN is not doing good in the industry: 73.68% of the companies in the same industry are doing better.
Looking at the Return On Invested Capital, with a value of 0.49%, NN is doing worse than 68.42% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NN is in line with the industry average of 2.05%.
The last Return On Invested Capital (0.49%) for NN is above the 3 year average (0.31%), which is a sign of increasing profitability.
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 73.68% of its industry peers.
NN's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 10.19%, NN is in line with its industry, outperforming 44.74% 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

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NN is destroying value.
Compared to 1 year ago, NN has less shares outstanding
The number of shares outstanding for NN has been reduced compared to 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 0.12. This is a bad value and indicates that NN is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of NN (0.12) is better than 76.32% of its industry peers.
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
WACC8.45%
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.
NN's Current ratio of 1.05 is amongst the best of the industry. NN outperforms 94.74% of its industry peers.
A Quick Ratio of 1.05 indicates that NN should not have too much problems paying its short term obligations.
NN has a better Quick ratio (1.05) than 94.74% of its industry peers.
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

NN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 38.30%, which is quite impressive.
NN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.60% yearly.
Looking at the last year, NN shows a small growth in Revenue. The Revenue has grown by 0.12% in the last 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)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 7.28% on average per year.
NN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.59% yearly.
EPS Next Y9.69%
EPS Next 2Y7.51%
EPS Next 3Y7.54%
EPS Next 5Y7.28%
Revenue Next Year2.55%
Revenue Next 2Y2.89%
Revenue Next 3Y-13.13%
Revenue Next 5Y5.59%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 2 4 6 8

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 10.12, the valuation of NN can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of NN indicates a rather cheap valuation: NN is cheaper than 84.21% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.43, NN is valued rather cheaply.
NN is valuated reasonably with a Price/Forward Earnings ratio of 8.00.
NN's Price/Forward Earnings ratio is rather cheap when compared to the industry. NN is cheaper than 89.47% of the companies in the same industry.
NN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.17.
Industry RankSector Rank
PE 10.12
Fwd PE 8
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

NN's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 14.14
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)1.04
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 6.29%, which is a nice return.
NN's Dividend Yield is rather good when compared to the industry average which is at 4.54. NN pays more dividend than 89.47% 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 6.29%

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 (6/4/2025, 7:00:00 PM)

56.56

+0.16 (+0.28%)

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 Owners54.82%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap15.21B
Analysts73.6
Price Target52.89 (-6.49%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.29%
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)0.91%
PT rev (3m)3.73%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)2.47%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.59%
Revenue NY rev (3m)1.03%
Valuation
Industry RankSector Rank
PE 10.12
Fwd PE 8
P/S 1.23
P/FCF N/A
P/OCF N/A
P/B 0.71
P/tB 0.75
EV/EBITDA 14.14
EPS(TTM)5.59
EY9.88%
EPS(NY)7.07
Fwd EY12.5%
FCF(TTM)-1.77
FCFYN/A
OCF(TTM)-1.49
OCFYN/A
SpS45.99
BVpS80.17
TBVpS75.61
PEG (NY)1.04
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
WACC8.45%
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 5Y7.28%
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 5Y5.59%
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