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NN Group

WBAG:NN
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NN
WBAG
€13B
Market Cap
  1. Home
  2. AT
  3. Insurance
Company description

NN Group N.V., a financial services company, primarily provides life insurance products in the Netherlands, rest of Europe, the United States, and Asia. The last earnings update was 34 days ago. More info.


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NN Share Price and Events
7 Day Returns
3.9%
WBAG:NN
2.4%
Europe Insurance
3.8%
AT Market
1 Year Returns
-0.2%
WBAG:NN
3.1%
Europe Insurance
-2.1%
AT Market
NN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NN Group (NN) 3.9% -0.5% 5.1% -0.2% - -
Europe Insurance 2.4% 2.6% 11.2% 3.1% 21.9% 28.6%
AT Market 3.8% 6.1% 9.6% -2.1% 42.8% 28.9%
1 Year Return vs Industry and Market
  • NN underperformed the Insurance industry which returned 3.1% over the past year.
  • NN outperformed the Market in Austria which returned -2.1% over the past year.
Price Volatility
NN
Industry
5yr Volatility vs Market

Value

 Is NN Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NN Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NN Group.

WBAG:NN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 9 analysts.
= Stable Book Value * Return on Equity
= €73.34 * 7.7%
€5.62
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. €73.34
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:NN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 25%) (80.12%))
1.109
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.109 * 5.96%)
7.12%

Discounted Cash Flow Calculation for WBAG:NN using Excess Returns Model Model

The calculations below outline how an intrinsic value for NN Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

WBAG:NN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.7% – 7.12%) * €73.34)
€0.40
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.40 / (7.12% - 0.51%)
€6.03
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €73.34 + €6.03
€79.37
WBAG:NN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:NN represents 0.9987x of ENXTAM:NN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9987x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 79.37 x 0.9987
€79.26
Value per share (EUR) From above. €79.26
Current discount Discount to share price of €38.54
= -1 x (€38.54 - €79.26) / €79.26
51.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price NN Group is available for.
Intrinsic value
>50%
Share price is €38.54 vs Future cash flow value of €79.26
Current Discount Checks
For NN Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NN Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • NN Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NN Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NN Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:NN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €3.16
ENXTAM:NN Share Price ** ENXTAM (2019-04-17) in EUR €38.59
Europe Insurance Industry PE Ratio Median Figure of 65 Publicly-Listed Insurance Companies 13.91x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NN Group.

WBAG:NN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:NN Share Price ÷ EPS (both in EUR)

= 38.59 ÷ 3.16

12.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NN Group is good value based on earnings compared to the Europe Insurance industry average.
  • NN Group is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does NN Group's expected growth come at a high price?
Raw Data
WBAG:NN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
11.3%per year
Europe Insurance Industry PEG Ratio Median Figure of 53 Publicly-Listed Insurance Companies 1.78x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.33x

*Line of best fit is calculated by linear regression .

WBAG:NN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.23x ÷ 11.3%

1.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NN Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on NN Group's assets?
Raw Data
WBAG:NN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €73.58
ENXTAM:NN Share Price * ENXTAM (2019-04-17) in EUR €38.59
Europe Insurance Industry PB Ratio Median Figure of 73 Publicly-Listed Insurance Companies 1.39x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.24x
WBAG:NN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:NN Share Price ÷ Book Value per Share (both in EUR)

= 38.59 ÷ 73.58

0.52x

* Primary Listing of NN Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NN Group is good value based on assets compared to the Europe Insurance industry average.
X
Value checks
We assess NN Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. NN Group has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is NN Group expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NN Group expected to grow at an attractive rate?
  • NN Group's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • NN Group's earnings growth is expected to exceed the Austria market average.
  • NN Group's revenues are expected to decrease over the next 1-3 years, this is below the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:NN Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:NN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 11.3%
WBAG:NN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts -13.1%
Europe Insurance Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
Europe Insurance Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:NN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:NN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,832
2022-12-31 1,803
2021-12-31 14,118 -4,507 1,585 3
2020-12-31 13,729 -4,495 1,474 6
2019-12-31 13,367 -4,558 1,293 5
WBAG:NN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 19,749 -2,491 1,059
2018-09-30 19,525 -1,623 2,292
2018-06-30 19,637 -3,795 2,238
2018-03-31 19,392 -5,604 2,015
2017-12-31 18,095 -5,321 2,058
2017-09-30 16,086 -6,715 1,511
2017-06-30 14,575 -3,609 1,220
2017-03-31 14,079 -2,112 1,321
2016-12-31 14,402 -2,130 1,155
2016-09-30 14,393 -3,760 1,367
2016-06-30 14,747 -5,593 1,259
2016-03-31 14,035 -6,285 1,316

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NN Group's earnings are expected to grow by 11.3% yearly, however this is not considered high growth (20% yearly).
  • NN Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:NN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from NN Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:NN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 4.66 5.04 4.01 9.00
2020-12-31 4.32 4.75 3.91 11.00
2019-12-31 3.94 4.34 3.61 10.00
WBAG:NN Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 3.16
2018-09-30 6.83
2018-06-30 6.67
2018-03-31 6.03
2017-12-31 6.22
2017-09-30 4.60
2017-06-30 3.74
2017-03-31 4.07
2016-12-31 3.55
2016-09-30 4.18
2016-06-30 3.81
2016-03-31 3.94

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • NN Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess NN Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NN Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has NN Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NN Group's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NN Group has delivered over 20% year on year earnings growth in the past 5 years.
  • NN Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • NN Group's 1-year earnings growth is negative, it can't be compared to the Europe Insurance industry average.
Earnings and Revenue History
NN Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NN Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:NN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 19,749.00 1,059.00 1,670.00
2018-09-30 19,525.00 2,292.00 1,686.00
2018-06-30 19,637.00 2,238.00 1,713.00
2018-03-31 19,392.00 2,015.00 1,755.00
2017-12-31 18,095.00 2,058.00 1,663.00
2017-09-30 16,086.00 1,511.00 1,539.00
2017-06-30 14,575.00 1,220.00 1,432.00
2017-03-31 14,079.00 1,321.00 1,308.00
2016-12-31 14,402.00 1,155.00 1,312.00
2016-09-30 14,393.00 1,367.00 1,350.00
2016-06-30 14,747.00 1,259.00 1,356.00
2016-03-31 14,035.00 1,316.00 1,350.00
2015-12-31 14,092.00 1,531.00 1,346.00
2015-09-30 21,370.00 1,360.00 1,680.00
2015-06-30 13,680.00 1,397.00 1,837.00
2015-03-31 13,662.00 1,266.00 1,857.00
2014-12-31 13,480.00 587.00 1,862.00
2014-09-30 11,150.00 -79.00 1,190.00
2014-06-30 12,891.00 24.00 1,253.00
2014-03-31 12,261.00 -185.00 1,229.00
2013-12-31 11,163.00 294.00 1,236.00
2013-09-30 -3,854.00 714.00 -146.80
2013-06-30 5,151.00 39.00 1,033.20
2013-03-31 10,208.00 411.00 1,068.20
2012-12-31 12,691.00 -153.00 1,227.20
2012-09-30 34,453.00 -1,140.00 2,360.00
2012-06-30 27,698.00 -756.00 1,723.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • NN Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • NN Group used its assets less efficiently than the Europe Insurance industry average last year based on Return on Assets.
  • NN Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NN Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NN Group has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is NN Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NN Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NN Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • NN Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of NN Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NN Group Company Filings, last reported 3 months ago.

WBAG:NN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 24,848.00 10,152.00 9,608.00
2018-09-30 25,047.00 9,907.00 9,370.00
2018-06-30 25,599.00 10,013.00 10,508.00
2018-03-31 25,424.00 9,860.00 11,079.00
2017-12-31 24,799.00 10,500.00 10,317.00
2017-09-30 24,094.00 12,562.00 10,531.00
2017-06-30 23,901.00 12,426.00 10,837.00
2017-03-31 23,106.00 9,422.00 11,445.00
2016-12-31 23,693.00 10,532.00 9,507.00
2016-09-30 26,465.00 10,837.00 10,439.00
2016-06-30 26,250.00 11,084.00 11,215.00
2016-03-31 24,094.00 10,125.00 11,041.00
2015-12-31 21,464.00 9,672.00 7,879.00
2015-09-30 21,301.00 8,077.00 9,510.00
2015-06-30 19,694.00 8,386.00 9,357.00
2015-03-31 25,195.00 8,846.00 10,296.00
2014-12-31 21,417.00 8,164.00 8,158.00
2014-09-30 19,400.00 7,118.00 6,136.00
2014-06-30 16,999.00 7,655.00 7,384.00
2014-03-31 14,754.00 7,133.00 8,883.00
2013-12-31 14,130.00 7,709.00 7,891.00
2013-09-30
2013-06-30 25,395.00 10,066.00 7,987.00
2013-03-31 26,640.00 12,299.00 5,975.00
2012-12-31 26,640.00 12,299.00 5,975.00
2012-09-30 26,773.00 14,162.00 10,894.00
2012-06-30 25,323.00 14,710.00 11,695.00
  • NN Group's level of debt (40.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (54.5% vs 40.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).
X
Financial health checks
We assess NN Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NN Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is NN Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.92%
Current annual income from NN Group dividends. Estimated to be 5.56% next year.
If you bought €2,000 of NN Group shares you are expected to receive €98 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • NN Group's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • NN Group's dividend is above the markets top 25% of dividend payers in Austria (4.67%).
Upcoming dividend payment

Purchase NN Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:NN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
Europe Insurance Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 4.8%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:NN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 2.30 1.00
2021-12-31 2.25 12.00
2020-12-31 2.16 15.00
2019-12-31 2.02 13.00
WBAG:NN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-14 1.900 5.073
2019-02-15 1.900 4.999
2018-08-16 1.700 4.585
2018-05-04 1.660 4.498
2017-08-18 1.570 4.344
2017-03-16 1.550 4.859
2017-02-16 1.550 5.178
2016-08-18 1.650 5.613
2016-03-24 1.510 5.618
2016-02-25 1.510 5.308
2015-11-04 0.920 3.003
2015-08-05 0.920 3.404
2015-06-01 1.140 4.354

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NN Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but NN Group only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of NN Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess NN Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NN Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NN Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of NN Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lard Friese
COMPENSATION €2,570,000
AGE 56
TENURE AS CEO 4.8 years
CEO Bio

Mr. E. Friese also known as Lard, was appointed as Member and Vice-Chair of the Executive Board on 1 March 2014 and Chair and Chief Executive Officer at NN Group NV since June 1, 2017. From 1 October 2013 until the legal merger between NN Group and ING Verzekeringen, which became effective on 1 March 2014, he was a Member and Vice-Chair of the management board of ING Verzekeringen. Mr. Friese is responsible for the business strategy, performance and day-to-day operations of NN Group. Mr. Friese has been employed by ING since 2008 in various positions. He was appointed Chief Executive Officer of Nationale-Nederlanden and Chair of the Dutch Intermediary Division (Nationale-Nederlanden, Movir, Westland Utrecht Bank) on 1 September 2008. In 2009, he became Chief Executive Officer of ING Insurance Benelux responsible for the whole of ING Insurance’s operations in the Netherlands, Belgium and Luxembourg. He was appointed to the management board of ING Verzekeringen with responsibility for the Insurance operations in the Netherlands, Belgium and Luxembourg, Central and Rest of Europe and Asia/Pacific on 1 January 2011 until 3 November 2011. He was appointed to the management board of ING Insurance Eurasia N.V., a direct subsidiary of NN Group (ING Insurance Eurasia) with the same responsibilities. As of 1 July 2013, he also assumed responsibility for Investment Management in the management board of ING Insurance Eurasia and, as from the end of 2013 for the insurance business in Japan. From 2006 to 2008, Mr. Friese was employed by Ceska Pojistovna a.s. (Prague, Czech Republic) as Chief Executive Officer and Vice-Chair of the board of directors and was a Member of the executive committee of Generali PPF Holding (Prague, Czech Republic). From 2003 to 2006, Mr. Friese was employed by VNU/ACNielsen (Brussels, Belgium) as Senior Vice-President and Chief Retail Services Officer Europe and he was a Member of the European board. Prior to that, from 1993 to 2003, he worked at Aegon N.V. as a Member of the board of directors of Aegon Levensverzekering N.V. (life insurance) in The Hague, the Netherlands and as Senior Vice President of Aegon the Netherlands in Tokyo, Japan. Between 1988 and 1993, Mr. Friese held various positions at insurance company NOG Verzekeringen in Amsterdam (the Netherlands). Mr. Friese began his career in 1986 as a (junior) tax consultant at Kammer Luhrmann Van Dien & Co (now PwC) in Utrecht and Arnhem, the Netherlands. Mr. Friese holds a Master of Law degree from Utrecht University (the Netherlands). Besides being a member of the Executive Board, Mr. Friese is a member of the board of representatives of Foundation VUmc CCA and a member of the Geneva Association.

CEO Compensation
  • Lard's compensation has been consistent with company performance over the past year.
  • Insufficient data for Lard to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the NN Group management team in years:

2.3
Average Tenure
49
Average Age
  • The tenure for the NN Group management team is about average.
Management Team

Lard Friese

TITLE
Chairman of Executive Board & CEO
COMPENSATION
€3M
AGE
56
TENURE
4.8 yrs

Delfin Arroyo

TITLE
Vice Chairman of Executive Board & CFO
COMPENSATION
€2M
AGE
54
TENURE
4.8 yrs

Delfin Arroyo

TITLE
Vice Chairman of Management Board & CFO
COMPENSATION
€3M
AGE
54
TENURE
4.8 yrs

David Knibbe

TITLE
Member of Management Board & CEO of Netherlands
AGE
47
TENURE
4.8 yrs

Tjeerd Bosklopper

TITLE
Member of Management Board & Chief Transformation Officer
AGE
43
TENURE
0.6 yrs

Jan-Hendrik Erasmus

TITLE
Chief Risk Officer & Member of Management Board
AGE
38
TENURE
2.6 yrs

Satish Bapat

TITLE
Member of Management Board & CEO of NN Investment Partners
AGE
52
TENURE
2 yrs

Dailah Nihot

TITLE
Chief of Organisation and Corporate Relations & Member of Management Board
AGE
45
TENURE
0.6 yrs

Fabian Rupprecht

TITLE
CEO of International Insurance & Member of Management Board
AGE
49
TENURE
0.6 yrs

Janet Stuijt

TITLE
General Counsel
AGE
49
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure and age of the NN Group board of directors in years:

3.2
Average Tenure
64
Average Age
  • The tenure for the NN Group board of directors is about average.
Board of Directors

Jan Holsboer

TITLE
Supervisory Board Chairman
COMPENSATION
€151K
AGE
72
TENURE
4.8 yrs

Dick Harryvan

TITLE
Supervisory Board Vice Chairman
COMPENSATION
€122K
AGE
65
TENURE
3.2 yrs

Heijo Gottfried Hauser

TITLE
Supervisory Board Member
COMPENSATION
€137K
AGE
63
TENURE
4.8 yrs

Hans Schoen

TITLE
Supervisory Board Member
COMPENSATION
€103K
AGE
64
TENURE
4.8 yrs

Hélène Vletter-van Dort

TITLE
Supervisory Board Member
COMPENSATION
€98K
AGE
54
TENURE
3.5 yrs

Robert Jenkins

TITLE
Supervisory Board Member
COMPENSATION
€122K
AGE
67
TENURE
3.2 yrs

Rob Ruijter

TITLE
Supervisory Board Member
COMPENSATION
€98K
AGE
67
TENURE
1.8 yrs

Clara-Christina F. Streit

TITLE
Supervisory Board Member
COMPENSATION
€117K
AGE
50
TENURE
1.8 yrs

David Cole

TITLE
Member of Supervisory Board
AGE
57
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • NN Group insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
15. Mar 19 Sell E. Friese Individual 15. Mar 19 15. Mar 19 -382 €38.45 €-14,688
15. Mar 19 Sell Delfin Arroyo Individual 15. Mar 19 15. Mar 19 -288 €38.45 €-11,074
01. Jun 18 Sell E. Friese Individual 01. Jun 18 01. Jun 18 -1,663 €16.81 €-27,952
01. Jun 18 Sell Delfin Arroyo Individual 01. Jun 18 01. Jun 18 -1,370 €16.81 €-23,027
X
Management checks
We assess NN Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NN Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

NN Group N.V., a financial services company, primarily provides life insurance products in the Netherlands, rest of Europe, the United States, and Asia. The company operates through seven segments: Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Asset Management, Other, and Japan Closed Block VA. It offers group and individual life/pension products, single premium variable annuity individual life insurance products, and corporate-owned and protection life insurance products; and health, motor, fire, liability, transport, disability, and accident insurance products, as well as pension administration services. The company also provides retirement products and services; various asset management products comprising fixed income, equity, multi-asset, and alternative credit; and banking services, including mortgages, savings products, and reinsurance services. It offers its products to individuals, small and medium-sized enterprises, large corporations, retail customers, wholesale distributors, and institutional investors directly, as well as through agents, brokers, and banks. The company was formerly known as ING Insurance Topholding N.V. and changed its name to NN Group N.V. in March 2014 as a result of its merger with ING Verzekeringen N.V. NN Group N.V. was incorporated in 2011 and is headquartered in The Hague, the Netherlands.

Details
Name: NN Group N.V.
NN
Exchange: WBAG
Founded: 2011
€12,671,758,822
328,368,977
Website: http://www.nn-group.com
Address: NN Group N.V.
Schenkkade 65,
The Hague,
Zuid-Holland, 2595 AS,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM NN Ordinary Shares Euronext Amsterdam NL EUR 02. Jul 2014
OTCPK NNGP.F Ordinary Shares Pink Sheets LLC US USD 02. Jul 2014
DB 2NN Ordinary Shares Deutsche Boerse AG DE EUR 02. Jul 2014
LSE 0QVV Ordinary Shares London Stock Exchange GB EUR 02. Jul 2014
WBAG NN Ordinary Shares Wiener Boerse AG AT EUR 02. Jul 2014
BATS-CHIXE NNA Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jul 2014
OTCPK NNGR.Y UNSPONSOD ADR Pink Sheets LLC US USD 13. Jan 2017
Number of employees
Current staff
Staff numbers
12,501
NN Group employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 23:28
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.