NN Group N.V.
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 segments. The company provides insured defined benefit, de…
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 segments. The company provides insured defined benefit, defined contribution, pensions under the Nationale-Nederlanden brand name; premium pension institution services under the BeFrank brand name; and general pension fund administration and advisory services under AZL brand name, as well as non-life insurance products, including motor, fire, liability, transport, travel, health, and disability and accident insurance products. It also provides long-term protection to cover a variety of risks including disability, critical illness and health; and protection, savings and retirement solutions. In addition, the company offers financial services, such as savings, investments, bancassurance and mortgages under the Woonnu brand name. The company offers its products to individuals, small and medium-sized enterprises, and corporate customers directly through tied agents, advisors, brokers, and direct channels. The company was formerly known as ING Insurance Topholding N.V. and changed its name to NN Group N.V. in March 2014. NN Group N.V. was founded in 1845 and is headquartered in The Hague, the Netherlands.After signing in, return here and select “Add to watchlist”. Saving companies requires a verified email address.
No valuation verdict yet
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Start with the price and fair value range, then review the data dates and assumptions below. Estimates are not predictions or investment advice.
Selected model not applicable
DCF (trailing free cash flow) needs inputs this company does not have (for example positive earnings, free cash flow or EBITDA), so it gives no usable value.
Assumptions: growth 2%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 2.0% (sector default 5.4%, own revenue history -10.0%, analyst revenue consensus 2.6%).
5-year outlook: relative outlook of about 10.0% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 2.6% a year; the growth assumption used is 2.0%.
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Show the recommended model instead
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — EUR 72.52 (-8.4%)
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EPS-based Gordon proxy
— EUR 95.51 (+20.6%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— EUR 32.28 (-59.2%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
5 years price change: +137.20% · EUR 79.18 · Market data through 06 Nov 2026 . The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 06 Nov 2026; last refreshed 06 Nov 2026 18:33 (37 minutes ago).
08 Nov 2021Range EUR 24.41 – 81.1006 Nov 2026
Latest news
Headlines provided by EODHD. Articles may mention multiple companies and are not investment recommendations.
More detail: quality, peers, price history, dividends and financials
Quality score: 45 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 4 of 4 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 1 of 4 years | 5 / 20 |
| Growth | revenue +8.5% a year | 20 / 20 |
| Balance sheet | net debt 41.0x EBITDA | 0 / 20 |
| Margins | EBITDA margin 1% | 0 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| NN.AS (this company) | EUR 79.18 | -9.2% | 11.1 | 1.0 | 5.5% | 45 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.66 | 68.4% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.86 | 45.8% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.84 | 36.1% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.23 | 34.4% | 8.0 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.50 | 32.6% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.87 | 30.2% | 8.2 | 1.3 | 5.0% | 88 |
| SYF Synchrony Financial | USD 74.07 | 29.9% | 7.2 | 1.4 | 2.1% | 100 |
| Peer median | 7.6 | 1.4 | ||||
Dividends
Paid in the last 12 months: EUR 4.05 per share · yield 5.11% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 4.050 |
| 2025 | 3.540 |
| 2024 | 3.360 |
| 2023 | 2.910 |
| 2022 | 2.560 |
| 2021 | 2.400 |
Trailing 12-month financials
TTM through 30 Jun 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 12:55
| Revenue | EUR 14,031,000,000 |
|---|---|
| EBITDA | EUR 136,000,000 |
| EBIT | EUR 0 |
| Net income | EUR 1,863,000,000 |
| Free cash flow | EUR -2,373,000,000 |
| Capital expenditures | EUR 0 |
| Debt | EUR 12,845,000,000 |
| Cash | EUR 7,265,000,000 |
| Working capital | EUR |
| Shares outstanding | 261,800,000 |
| Reported dividends per share | EUR 4.3392 |