(NN) NN - Overview
Sector: Financial Services | Industry: Insurance - Diversified | Exchange: AS (Netherlands) | Market Cap: 19.488m EUR | Total Return: 40.4% in 12m
Industry Rotation: +5.2
Avg Turnover: 41.7M
EPS Trend: -11.9%
Qual. Beats: 0
Rev. Trend: 23.9%
Qual. Beats: -1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
NN Group NV is a Netherlands-based financial services provider specializing in life and non-life insurance, retirement services, and banking. The company operates across Europe and Japan, utilizing a multi-brand strategy that includes Nationale-Nederlanden, BeFrank, and Woonnu to serve retail, SME, and corporate clients. Its portfolio encompasses diverse products ranging from defined contribution pensions and disability coverage to mortgage lending and asset management.
The European insurance sector often relies on a capital-light business model in its life segments to mitigate interest rate volatility, while non-life segments focus on underwriting discipline within motor and property lines. NN Group’s structure reflects this by balancing long-term protection risks with fee-based pension administration and retail banking services. For a deeper look into these operational metrics, investors may find it useful to evaluate the companys fundamentals on ValueRay.
Founded in 1845 and formerly a part of ING Group, the firm distributes its offerings through a hybrid network of brokers, tied agents, and direct digital channels. This diversified distribution model allows the company to maintain a significant market share in the Dutch domestic market while scaling its protection and savings solutions internationally.
- Solvency II ratio fluctuations dictate capital return capacity and dividend sustainability
- Dutch life insurance runoff pace impacts long-term capital release and reinvestment
- Higher interest rates improve investment yields and reduce pension liability valuations
- Severe weather events increase claims volatility within the Netherlands non-life segment
- Mortgage portfolio growth and credit quality drive NN Bank profitability margins
| Net Income: 1.33b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.30 > 1.0 |
| NWC/Revenue: -961.3% < 20% (prev 48.39%; Δ -1.01k% < -1%) |
| CFO/TA 0.00 > 3% & CFO 249.0m > Net Income 1.33b |
| Net Debt (7.29b) to EBITDA (2.85b): 2.56 < 3 |
| Current Ratio: 0.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (262.2m) vs 12m ago -2.93% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 6.71% > 50% (prev 6.14%; Δ 0.57% > 0%) |
| Interest Coverage Ratio: 3.66 > 6 (EBITDA TTM 2.85b / Interest Expense TTM 1.20b) |
Over the past week, the price has changed by -0.53%, over one month by +1.50%, over three months by +7.94% and over the past year by +40.39%.
| Analysts Target Price | - | - |
P/E Trailing = 17.8609
P/E Forward = 9.3985
P/S = 1.3586
P/B = 0.931
P/EG = 0.7164
Revenue TTM = 13.94b EUR
EBIT TTM = 4.39b EUR
EBITDA TTM = 2.85b EUR
Long Term Debt = 13.42b EUR (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 13.69b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 7.29b EUR (from netDebt column, last quarter)
Enterprise Value = 26.77b EUR (19.49b + Debt 13.69b - CCE 6.40b)
Interest Coverage Ratio = 3.66 (Ebit TTM 4.39b / Interest Expense TTM 1.20b)
EV/FCF = 107.5x (Enterprise Value 26.77b / FCF TTM 249.0m)
FCF Yield = 0.93% (FCF TTM 249.0m / Enterprise Value 26.77b)
FCF Margin = 1.79% (FCF TTM 249.0m / Revenue TTM 13.94b)
Net Margin = 9.51% (Net Income TTM 1.33b / Revenue TTM 13.94b)
Gross Margin = unknown ((Revenue TTM 13.94b - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 0.13 (Enterprise Value 26.77b / Total Assets 204.91b)
Interest Expense / Debt = 8.77% (Interest Expense 1.20b / Debt 13.69b)
Taxrate = 25.0% (66.0m / 264.0m)
NOPAT = 3.29b (EBIT 4.39b * (1 - 25.00%))
Current Ratio = 0.08 (Total Current Assets 11.47b / Total Current Liabilities 145.51b)
Debt / Equity = 0.65 (Debt 13.69b / totalStockholderEquity, last quarter 21.06b)
Debt / EBITDA = 2.56 (Net Debt 7.29b / EBITDA 2.85b)
Debt / FCF = 29.26 (Net Debt 7.29b / FCF TTM 249.0m)
Total Stockholder Equity = 21.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.64% (Net Income 1.33b / Total Assets 204.91b)
RoE = 6.17% (Net Income TTM 1.33b / Total Stockholder Equity 21.48b)
RoCE = 12.58% (EBIT 4.39b / Capital Employed (Equity 21.48b + L.T.Debt 13.42b))
RoIC = 9.66% (NOPAT 3.29b / Invested Capital 34.10b)
WACC = 6.68% (E(19.49b)/V(33.18b) * Re(6.75%) + D(13.69b)/V(33.18b) * Rd(8.77%) * (1-Tc(0.25)))
Discount Rate = 6.75% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: -95.45 | Cagr: -2.71%
[DCF] Terminal Value 77.19% ; FCFF base≈249.0m ; Y1≈163.5m ; Y5≈74.8m
[DCF] Fair Price = N/A (negative equity: EV 1.96b - Net Debt 7.29b = -5.32b; debt exceeds intrinsic value)
EPS Correlation: -11.91 | EPS CAGR: -53.48% | SUE: 0.0 | # QB: 0
Revenue Correlation: 23.87 | Revenue CAGR: -8.37% | SUE: -4.0 | # QB: -1
EPS current Year (2026-12-31): EPS=8.00 | Chg30d=-4.07% | Revisions=N/A | GrowthEPS=-4.0% | GrowthRev=+4.2%
EPS next Year (2027-12-31): EPS=8.40 | Chg30d=-3.10% | Revisions=+20% | GrowthEPS=+5.0% | GrowthRev=+4.0%
[Analyst] Revisions Ratio: +20%