Nuernberger Beteiligungs AG Class B (DE:NBG6)
XETRA:NBG6
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Nuernberger Beteiligungs AG Class B
(XETRA:NBG6)
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Rating:67Neutral
Price Target:
€135.00
▲(12.50% Upside)
Action:ReiteratedDate:04/26/26
The score is driven primarily by moderate financial performance (strong balance sheet but volatile earnings and cash flow) and supported by very attractive valuation (low P/E and high dividend yield). Technicals are positive but somewhat overextended, tempering the overall rating.
Positive Factors
Low leverage / strong balance sheet
Low reported leverage and sizable equity give the company durable financial flexibility to absorb underwriting losses or investment shocks. That balance-sheet capacity supports consistent underwriting discipline, reinsurance flexibility, and the ability to fund obligations without urgent external financing.
Negative Factors
Volatile cash generation / negative FCF in 2025
Inconsistent conversion of accounting profits into cash, culminating in negative free cash flow in 2025, undermines the firm’s self-funding capacity. Persistent cash variability can constrain reinvestment, dividend sustainability, and increases reliance on capital buffers or external funding in weak years.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Low reported leverage and sizable equity give the company durable financial flexibility to absorb underwriting losses or investment shocks. That balance-sheet capacity supports consistent underwriting discipline, reinsurance flexibility, and the ability to fund obligations without urgent external financing.
Read all positive factors
Nuernberger Beteiligungs AG Class B (NBG6) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€1.43B
Dividend Yield0.12%
Average Volume (3M)9.43K
Price to Earnings (P/E)3.1
Beta (1Y)0.13
Revenue Growth-2.67%
EPS GrowthN/A
CountryDE
Employees4,200
SectorFinancial
Sector Strength70
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)-0.16
Shares Outstanding11,520,000
10 Day Avg. Volume25,929
30 Day Avg. Volume9,434
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)1.59
Price to Sales (P/S)0.33
P/FCF Ratio-1.13K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.56
Revenue Forecast (FY)€2.88B
Nuernberger Beteiligungs AG Class B Business Overview & Revenue Model
Company Description
NÜRNBERGER Beteiligungs-AG operates as an insurance company in Germany. The company offers car, motorcycle, oldtimerversicherung, long-term care, protection, life, and pension insurance products; personal, pet owners, home and property owners, wat...
How the Company Makes Money
The company makes money mainly through its insurance and financial services subsidiaries. Key revenue and earnings drivers include: (1) Insurance premiums: customers pay recurring and one-time premiums for life, health, and property & casualty ins...
Nuernberger Beteiligungs AG Class B Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.26B | 5.36B | 5.02B | 4.03B | 5.44B |
| Gross Profit | 1.65B | 5.36B | 4.66B | 2.23B | 5.69B |
| EBITDA | 129.39M | 0.00 | 0.00 | 56.12M | 89.00M |
| Net Income | 44.39M | -78.52M | 41.73M | 69.14M | 63.00M |
Balance Sheet | |||||
| Total Assets | 37.48B | 36.65B | 34.99B | 33.65B | 35.87B |
| Cash, Cash Equivalents and Short-Term Investments | 547.83M | 658.13M | 670.08M | 652.89M | 755.45M |
| Total Debt | 110.45M | 114.62M | 15.27M | 19.08M | 24.29M |
| Total Liabilities | 36.59B | 35.80B | 34.03B | 32.68B | 34.93B |
| Stockholders Equity | 872.05M | 831.31M | 950.13M | 948.73M | 916.28M |
Cash Flow | |||||
| Free Cash Flow | -1.23M | 116.53M | -144.73M | -485.59M | 71.53M |
| Operating Cash Flow | 978.00K | 137.55M | -116.82M | -448.01M | 114.89M |
| Investing Cash Flow | 65.24M | -245.69M | 45.96M | 405.42M | 164.18M |
| Financing Cash Flow | -6.07M | 58.19M | -44.37M | -43.46M | -37.55M |
Nuernberger Beteiligungs AG Class B Technical Analysis
Positive
120.00
Price Trends
120.42
Positive
120.37
Positive
98.89
Positive
Market Momentum
0.15
Negative
55.19
Neutral
56.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:NBG6, the sentiment is Positive. The current price of 120 is below the 20-day moving average (MA) of 120.57, below the 50-day MA of 120.42, and above the 200-day MA of 98.89, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 55.19 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:NBG6.
Nuernberger Beteiligungs AG Class B Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €29.74B | 11.85 | 19.71% | 2.37% | 2.89% | 25.44% | |
71 Outperform | €146.93B | 13.65 | 17.77% | 3.94% | ― | ― | |
68 Neutral | €1.05B | 26.61 | 18.44% | 4.61% | 16.07% | -26.57% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | €1.43B | 3.11 | -0.98% | 0.12% | -2.67% | ― | |
49 Neutral | €615.60M | 9.90 | 5.31% | 2.63% | 15.67% | -6.25% | |
42 Neutral | €423.06M | -2.00 | -10.36% | 3.61% | -25.75% | -496.17% |
* Financial Sector Average
DE:NBG6
Nuernberger Beteiligungs AG Class B
124.00
78.33
171.51%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.