NN Group N.V. (NL:NN)
:NN
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NN Group N.V.
(NN)
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Rating:53Neutral
Price Target:
€73.00
▼(-0.76% Downside)
Action:Reiterated
Date:03/11/26
The score is primarily constrained by weak and inconsistent cash flow and highly volatile revenue, despite improved reported profitability and a still-supported (but increasingly leveraged) balance sheet. Technical indicators also point to weak momentum and a near-term downtrend. These risks are partially offset by a supportive valuation, led by a high dividend yield and a reasonable P/E.
Positive Factors
Diversified Business Model
NN's multi-line platform across life, non-life, pensions, banking and asset management spreads risk across products and geographies. Durable diversification supports recurring premium and fee income, enables cross-selling and reduces reliance on a single market cycle over a 2-6 month horizon.
Negative Factors
Weak and Inconsistent Cash Flow
Persistent negative operating and free cash flow forces reliance on balance sheet financing or capital markets, limiting the firm's ability to self-fund claims, buybacks or investments. Over months this constrains strategic flexibility and raises refinancing and liquidity risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Business Model
NN's multi-line platform across life, non-life, pensions, banking and asset management spreads risk across products and geographies. Durable diversification supports recurring premium and fee income, enables cross-selling and reduces reliance on a single market cycle over a 2-6 month horizon.
Read all positive factors
NN Group N.V. (NN) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€18.23B
Dividend Yield5.4%
Average Volume (3M)591.04K
Price to Earnings (P/E)24.9
Beta (1Y)0.57
Revenue Growth-0.97%
EPS Growth-25.25%
CountryNL
Employees13,497
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)4.64
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
€79.35Price Target Upside7.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)8.19
Revenue Forecast (FY)€14.52B
NN Group N.V. Business Overview & Revenue Model
Company Description
NN Group N.V., a financial services company, primarily provides life insurance products in the Netherlands and internationally. The company operates through Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Banking, and Other s...
How the Company Makes Money
NN makes money primarily by underwriting insurance and managing customer assets and savings. In insurance (life, pensions/retirement, and non-life/property & casualty), it earns premiums from policyholders and seeks to pay out less in claims and b...
NN Group N.V. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.94B | 3.00B | 12.62B | 13.18B | 8.51B | 19.08B |
| Gross Profit | 13.94B | 3.00B | 12.62B | 13.18B | 8.51B | 19.08B |
| EBITDA | 0.00 | 2.85B | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 1.33B | 1.19B | 1.58B | 1.17B | 1.63B | 3.28B |
Balance Sheet | ||||||
| Total Assets | 206.11B | 204.91B | 210.38B | 208.94B | 217.11B | 251.59B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 6.40B | 112.98B | 118.31B | 88.56B | 114.81B |
| Total Debt | 13.08B | 13.69B | 11.53B | 14.10B | 15.40B | 12.24B |
| Total Liabilities | 184.38B | 183.76B | 188.72B | 187.82B | 199.28B | 216.67B |
| Stockholders Equity | 21.64B | 19.08B | 21.57B | 19.62B | 17.77B | 34.65B |
Cash Flow | ||||||
| Free Cash Flow | 249.00M | -2.35B | -401.00M | 62.00M | -8.22B | -2.64B |
| Operating Cash Flow | 249.00M | -2.35B | -401.00M | 62.00M | -8.18B | -2.59B |
| Investing Cash Flow | 1.10B | 1.10B | 2.56B | 4.53B | 6.08B | -1.83B |
| Financing Cash Flow | -393.00M | 794.00M | -3.41B | -2.99B | 1.76B | -741.00M |
NN Group N.V. Technical Analysis
Neutral
73.56
Price Trends
70.03
Positive
67.53
Positive
63.20
Positive
Market Momentum
0.75
Positive
47.24
Neutral
9.16
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:NN, the sentiment is Neutral. The current price of 73.56 is above the 20-day moving average (MA) of 72.96, above the 50-day MA of 70.03, and above the 200-day MA of 63.20, indicating a neutral trend. The MACD of 0.75 indicates Positive momentum. The RSI at 47.24 is Neutral, neither overbought nor oversold. The STOCH value of 9.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | €15.66B | 9.68 | 11.85% | 2.07% | -0.30% | 32.04% | |
66 Neutral | €27.66B | 12.07 | 9.85% | 4.36% | -9.78% | 1.72% | |
60 Neutral | €75.08B | 12.00 | 12.05% | 5.10% | 2.44% | 10.58% | |
58 Neutral | €10.90B | 11.33 | 14.36% | 5.79% | 26.07% | 45.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €13.39B | 22.89 | 6.31% | 5.32% | 29.96% | -44.65% | |
53 Neutral | €18.23B | 24.92 | 6.47% | 5.40% | -0.97% | -25.25% |
* General Sector Average
NL:NN
NN Group N.V.
71.68
18.11
33.80%
NL:ABN
ABN AMRO Group N.V.
34.12
12.57
58.30%
NL:AGN
Aegon NV
7.31
1.33
22.27%
NL:ASRNL
ASR Nederland N.V
64.30
10.47
19.44%
NL:HAL
HAL Trust
171.20
54.83
47.12%
NL:INGA
ING GROEP
26.70
9.02
51.04%
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.