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NN Group N.V.
(NN)
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Rating:62Neutral
Price Target:
€86.00
▲(7.66% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by mixed financial performance: strong reported profitability is offset by highly unstable revenue and consistently negative recent cash flows, which lowers durability and financial flexibility. Technicals are supportive with a strong uptrend and positive momentum, while valuation is helped by a solid dividend yield but tempered by a mid-range P/E.
Positive Factors
Profitability Improvement
A sharp improvement in reported net margin (~40% in 2025) indicates strong underlying earnings generation from underwriting and investment activities. Sustained higher margins can fund capital needs, support dividends and absorb underwriting volatility, enhancing long-term earnings durability.
Negative Factors
Revenue Volatility
Very large swings in top-line (including a reported ~-78% collapse in 2025) undermine predictability of insurance premiums and fee income. Persistent revenue instability weakens forecasting, complicates capital allocation, and reduces confidence in sustained earnings power over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Improvement
A sharp improvement in reported net margin (~40% in 2025) indicates strong underlying earnings generation from underwriting and investment activities. Sustained higher margins can fund capital needs, support dividends and absorb underwriting volatility, enhancing long-term earnings durability.
Read all positive factors
NN Group N.V. (NN) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€19.66B
Dividend Yield4.86%
Average Volume (3M)591.04K
Price to Earnings (P/E)18.7
Beta (1Y)0.54
Revenue Growth39.01%
EPS Growth44.63%
CountryNL
Employees14,791
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)4.18
Shares Outstanding263,000,000
10 Day Avg. Volume595,943
30 Day Avg. Volume591,038
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)0.98
Price to Sales (P/S)6.24
P/FCF Ratio-7.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€81.60Price Target Upside2.15% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)8.36
Revenue Forecast (FY)€4.90B
NN Group N.V. Business Overview & Revenue Model
Company Description
NN Group N.V., a financial services company, provides life and non-life insurance products in the Netherlands and internationally. It operates through the Netherlands Life, the Netherlands Non-Life, Insurance Europe, Japan Life, and NN Bank segmen...
How the Company Makes Money
NN primarily makes money through (1) insurance underwriting and related fee income and (2) investment/asset management results on funds it manages.
1) Insurance operations (life, pensions, and non-life)
- Premium income: For non-life insurance (e...
NN Group N.V. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.00B | 12.62B | 13.18B | 8.51B | 19.08B |
| Gross Profit | 3.00B | 12.62B | 13.18B | 8.51B | 19.08B |
| EBITDA | 2.85B | 157.00M | 152.00M | 146.00M | 150.00M |
| Net Income | 1.19B | 1.58B | 1.17B | 1.63B | 3.28B |
Balance Sheet | |||||
| Total Assets | 204.91B | 210.38B | 208.94B | 217.11B | 251.59B |
| Cash, Cash Equivalents and Short-Term Investments | 6.40B | 112.98B | 118.31B | 88.56B | 114.81B |
| Total Debt | 13.69B | 11.53B | 14.10B | 15.40B | 12.24B |
| Total Liabilities | 183.76B | 188.72B | 187.82B | 199.28B | 216.67B |
| Stockholders Equity | 19.08B | 21.57B | 19.62B | 17.77B | 34.65B |
Cash Flow | |||||
| Free Cash Flow | -2.35B | -401.00M | 62.00M | -8.22B | -2.64B |
| Operating Cash Flow | -2.35B | -401.00M | 62.00M | -8.18B | -2.59B |
| Investing Cash Flow | 1.10B | 2.56B | 4.53B | 6.08B | -1.83B |
| Financing Cash Flow | 794.00M | -3.41B | -2.99B | 1.76B | -741.00M |
NN Group N.V. Technical Analysis
Positive
79.88
Price Trends
75.68
Positive
72.47
Positive
67.11
Positive
Market Momentum
0.85
Positive
54.85
Neutral
8.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:NN, the sentiment is Positive. The current price of 79.88 is above the 20-day moving average (MA) of 78.61, above the 50-day MA of 75.68, and above the 200-day MA of 67.11, indicating a neutral trend. The MACD of 0.85 indicates Positive momentum. The RSI at 54.85 is Neutral, neither overbought nor oversold. The STOCH value of 8.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:NN.
NN Group N.V. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €14.90B | 9.33 | 10.41% | 2.11% | -0.30% | 32.04% | |
67 Neutral | €86.14B | 13.40 | 12.71% | 4.35% | 5.07% | 16.05% | |
66 Neutral | €34.06B | 15.90 | 9.12% | 3.31% | -2.84% | 11.56% | |
64 Neutral | €12.25B | 13.15 | 11.63% | 4.96% | 26.07% | 45.09% | |
62 Neutral | €19.66B | 18.72 | 5.56% | 4.86% | 39.01% | 44.63% | |
61 Neutral | €14.07B | 28.46 | 6.31% | 4.87% | 29.96% | -44.65% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
NL:NN
NN Group N.V.
78.26
20.86
36.34%
NL:ABN
ABN AMRO Group N.V.
41.50
16.61
66.74%
NL:AGN
Aegon NV
8.15
2.04
33.39%
NL:ASRNL
ASR Nederland N.V
70.00
12.22
21.16%
NL:HAL
HAL Trust
165.00
40.80
32.85%
NL:INGA
ING GROEP
30.82
10.56
52.11%
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.