NN Group N.V.

BRSE:2NN Stock Report

Market Cap: CHF 19.0b

NN Group Valuation

Is 2NN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2NN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 2NN (CHF72.71) is trading below our estimate of future cash flow value (CHF208.33)

Significantly Below Future Cash Flow Value: 2NN is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2NN?

Key metric: As 2NN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2NN. This is calculated by dividing 2NN's market cap by their current earnings.
What is 2NN's PE Ratio?
PE Ratio18.6x
Earnings€1.11b
Market Cap€20.59b

Price to Earnings Ratio vs Peers

How does 2NN's PE Ratio compare to its peers?

The above table shows the PE ratio for 2NN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.7x
SLHN Swiss Life Holding
21.4x5.97%CHF 26.4b
HBAN Helvetia Baloise Holding
38.5x29.64%CHF 21.0b
SREN Swiss Re
10.1x-1.88%CHF 39.8b
ZURN Zurich Insurance Group
16.8x6.29%CHF 92.6b
2NN NN Group
18.6x13.01%CHF 20.6b

Price-To-Earnings vs Peers: 2NN is good value based on its Price-To-Earnings Ratio (18.6x) compared to the peer average (21.7x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 2NN's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
2NN 18.6xIndustry Avg. 13.1xNo. of Companies15PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2NN is expensive based on its Price-To-Earnings Ratio (18.6x) compared to the European Insurance industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is 2NN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2NN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2NN's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2NN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 72.71
CHF 70.59
-2.92%
12.05%CHF 87.31CHF 56.30n/a13
Jul ’27CHF 69.81
CHF 68.18
-2.33%
13.34%CHF 87.28CHF 56.28n/a12
Jun ’27n/a
CHF 67.60
0%
12.73%CHF 86.52CHF 55.79n/a14
May ’27n/a
CHF 66.73
0%
11.14%CHF 79.50CHF 56.39n/a14
Apr ’27n/a
CHF 65.60
0%
10.85%CHF 78.53CHF 55.70n/a14
Mar ’27n/a
CHF 64.81
0%
11.21%CHF 78.55CHF 55.72n/a14
Feb ’27n/a
CHF 61.81
0%
6.65%CHF 68.76CHF 55.92n/a15
Jan ’27n/a
CHF 61.89
0%
6.61%CHF 70.16CHF 56.13n/a14
Dec ’26n/a
CHF 61.68
0%
6.58%CHF 70.08CHF 56.06n/a14
Nov ’26n/a
CHF 59.30
0%
8.86%CHF 69.51CHF 49.96n/a14
Oct ’26n/a
CHF 59.11
0%
9.30%CHF 70.02CHF 50.32n/a15
Sep ’26n/a
CHF 58.30
0%
9.98%CHF 70.62CHF 48.97n/a15
Aug ’26n/a
CHF 56.09
0%
8.76%CHF 65.23CHF 48.46n/a15
Jul ’26n/a
CHF 54.61
0%
10.90%CHF 65.78CHF 44.63CHF 69.8115
Jun ’26CHF 50.44
CHF 50.80
+0.73%
7.81%CHF 59.29CHF 44.35n/a15
May ’26n/a
CHF 49.46
0%
9.39%CHF 59.53CHF 40.27n/a16
Apr ’26n/a
CHF 49.52
0%
7.27%CHF 55.26CHF 40.92n/a16
Mar ’26n/a
CHF 48.36
0%
7.33%CHF 54.38CHF 40.27n/a16
Feb ’26n/a
CHF 48.37
0%
8.10%CHF 55.13CHF 40.83n/a16
Jan ’26n/a
CHF 47.84
0%
7.28%CHF 54.13CHF 40.09n/a16
Dec ’25n/a
CHF 48.92
0%
8.21%CHF 58.70CHF 40.02n/a16
Nov ’25n/a
CHF 48.55
0%
9.48%CHF 59.21CHF 40.37n/a16
Oct ’25CHF 42.47
CHF 48.65
+14.53%
9.50%CHF 59.26CHF 40.40n/a16
Sep ’25n/a
CHF 48.65
0%
9.90%CHF 59.20CHF 40.36n/a16
Aug ’25n/a
CHF 50.17
0%
11.30%CHF 60.52CHF 40.60n/a15
Jul ’25n/a
CHF 48.53
0%
12.49%CHF 60.12CHF 39.32n/a16
CHF 70.82
Fair Value
2.7% overvalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/20 01:25
End of Day Share Price 2026/07/20 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NN Group N.V. is covered by 21 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Claudia GaspariBarclays
Michael HuttnerBerenberg
Edward HoughtonBernstein