ASR Nederland N.V. provides various insurance and non-insurance products and services to private and business customers in the Netherlands and internationally.
The last earnings update was 51 days ago.
Discounted Cash Flow Calculation for LSE:0RHS using Excess Returns Model Model
The calculations below outline how an intrinsic value for ASR Nederland 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.
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
ASR Nederland's share price is below the future cash flow value, and at a moderate discount (> 20%).
ASR Nederland'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
is considered below, and whether this is a fair price.
Price based on past earnings
ASR Nederland's earnings available for a low price, and how does
this compare to other companies in the same industry?
ASR Nederland's earnings are expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
ASR Nederland'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.
ASR Nederland's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
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.
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.
TENURE AS CEO
Mr. J.P.M. Baeten, also known as Jos, LL.M., is the Founder of ASR Nederland N.V. and has been its Chief Executive Officer since January 26, 2009. Mr. Baeten has been Chairman of The Executive Board at ASR Nederland N.V. since 2009. His areas of responsibility at ASR Nederland N.V. include Human Resources, Corporate Communications, Strategy, Audit, CSR, Marketing, Business Support, Integrity and Legal. He started his career in 1980 with Stad Rotterdam and served as its Chief Executive Officer since 1999. He joined the Executive Board of Stad Rotterdam Verzekeringen N.V. in 1997. Since June 2003, he served as Chief Executive Officer of De Amersfoortse Verzekeringen. Since 2005, he served as Chairman of the Board of Directors and Chief Executive Officer of Fortis ASR Verzekeringsgroep. He served as Chairman of the Board of De Amersfoortse Verzekeringen since June 2003. Mr. Baeten serves as a Director of Verbond van Verzekeraars and Holland Financial Centre; and VNO-NCW. He is Board Member of the Dutch Association of Insurers and the Holland Financial Centre. He serves as Chairman for the Supervisory Committee of Gemiva-SVG Group, the Rotterdam Theatre Foundation and he sits on the General Administrative Board of the Confederation of Netherlands Industry and Employers VNO-NCW and is a member of the Supervisory Committee of the ROC Midden-Nederland (regional community college). He has been Chairman of the Supervisory Board of Stichting Theater Rotterdam. He has been Board Member of Stichting Grote Ogen and Stichting Fietshelm is Hoofdzaak. Mr. Baeten studied law at Erasmus University Rotterdam.
Jos P.'s compensation has been consistent with company performance over the past year.
Jos P.'s remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the ASR Nederland management team is over 5 years, this suggests they are a seasoned and experienced team.
Jos P. Baeten
Chairman of the Executive Board & CEO
CFO & Member of Executive Board
Director of Accounting
Head of Investor Relations and Ratings
Managing Director of Corporate Communications
Managing Director of Human Resources
Managing Director of Pension Business
Managing Director of Non-Life Business
Managing Director of Occupational Disability Business
Chief of Digital & Disruption
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The tenure for the ASR Nederland board of directors is about average.
ASR Nederland N.V. provides various insurance and non-insurance products and services to private and business customers in the Netherlands and internationally. It operates through Non-Life, Life, Banking and Asset Management, Distribution and Services, Holding and Other, and Real Estate Development segments. The company offers non-life insurance products, including motor vehicle, fire, travel and leisure, transport, liability, agricultural, construction motorized vehicles, and construction all risk and assistance insurance products; self-employed disability, sickness leave, and group disability insurance products; and health insurance products comprising basic health insurance and supplementary health insurance products. It also provides life insurance products, such as individual life and group pensions, and funeral insurance products. In addition, the company offers bank and deferred annuities, savings accounts, and retail investments; various mortgages; asset management; and real estate investment services. Additionally, it engages in the distribution of insurance contracts and intermediary services; and develops real estate properties. ASR Nederland N.V. offers its products under the a.s.r., De Amersfoortse, Ditzo, Europeesche Verzekeringen, and Ardanta brand names. The company was formerly known as Fortis Verzekeringen Nederland N.V. and changed its name to ASR Nederland N.V. in October 2008. ASR Nederland N.V. is headquartered in Utrecht, the Netherlands.
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