LSE:0RHS

Stock Analysis Report

Executive Summary

ASR Nederland N.V. provides various insurance and non-insurance products and services to private and business customers in the Netherlands and internationally.


Snowflake Analysis

Undervalued with proven track record and pays a dividend.


Similar Companies

Share Price & News

How has ASR Nederland's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0RHS has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.2%

0RHS

-0.6%

GB Insurance

0.3%

GB Market


1 Year Return

-3.3%

0RHS

-0.02%

GB Insurance

6.5%

GB Market

Return vs Industry: 0RHS underperformed the UK Insurance industry which returned -0% over the past year.

Return vs Market: 0RHS underperformed the UK Market which returned 6.5% over the past year.


Shareholder returns

0RHSIndustryMarket
7 Day-2.2%-0.6%0.3%
30 Day5.9%2.2%-1.4%
90 Day9.5%8.6%2.9%
1 Year2.0%-3.3%11.1%-0.02%12.0%6.5%
3 Year70.4%45.3%18.3%-2.8%18.7%3.8%
5 Yearn/a30.1%-3.2%35.0%4.1%

Price Volatility Vs. Market

How volatile is ASR Nederland's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is ASR Nederland undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 0RHS (€36.47) is trading below our estimate of fair value (€78.18)

Significantly Below Fair Value: 0RHS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 0RHS is good value based on its PE Ratio (6.1x) compared to the Insurance industry average (14.6x).

PE vs Market: 0RHS is good value based on its PE Ratio (6.1x) compared to the UK market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: 0RHS's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: 0RHS is good value based on its PB Ratio (0.9x) compared to the GB Insurance industry average (1.8x).


Next Steps

Future Growth

How is ASR Nederland forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

-4.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0RHS's earnings are forecast to decline over the next 3 years (-4.5% per year).

Earnings vs Market: 0RHS's earnings are forecast to decline over the next 3 years (-4.5% per year).

High Growth Earnings: 0RHS's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 0RHS's revenue is expected to decline over the next 3 years (-22.5% per year).

High Growth Revenue: 0RHS's revenue is forecast to decline over the next 3 years (-22.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0RHS's Return on Equity is forecast to be low in 3 years time (12%).


Next Steps

Past Performance

How has ASR Nederland performed over the past 5 years?

12.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0RHS has high quality earnings.

Growing Profit Margin: 0RHS's current net profit margins (11.3%) are lower than last year (11.4%).


Past Earnings Growth Analysis

Earnings Trend: 0RHS's earnings have grown by 12.5% per year over the past 5 years.

Accelerating Growth: 0RHS's earnings growth over the past year (41%) exceeds its 5-year average (12.5% per year).

Earnings vs Industry: 0RHS earnings growth over the past year (41%) exceeded the Insurance industry 23.4%.


Return on Equity

High ROE: 0RHS's Return on Equity (15.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is ASR Nederland's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 0RHS has a low level of unsold assets or inventory.

Debt Coverage by Assets: 0RHS's debt is covered by short term assets (assets are 1.4x debt).


Financial Institutions Analysis

Asset Level: 0RHS's level of assets compared to its equity is moderate.

Allowance for Bad Loans: Insufficient data to determine if 0RHS has a sufficient allowance for bad loans.

Low Risk Liabilities: 0RHS reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if 0RHS has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0RHS has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if 0RHS has an appropriate level of bad loans.


Next Steps

Dividend

What is ASR Nederland's current dividend yield, its reliability and sustainability?

6.00%

Current Dividend Yield


Dividend Yield vs Market

company6.0%marketbottom25%1.8%markettop25%5.1%industryaverage4.8%forecastin3Years5.8%

Current dividend yield vs market & industry

Notable Dividend: 0RHS's dividend (6%) is higher than the bottom 25% of dividend payers in the UK market (1.8%).

High Dividend: 0RHS's dividend (6%) is in the top 25% of dividend payers in the UK market (5.07%)


Stability and Growth of Payments

Stable Dividend: 0RHS has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 0RHS's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.3%), 0RHS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 0RHS's dividends in 3 years are forecast to be well covered by earnings (42% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.6yrs

Average management tenure


CEO

Jos P. Baeten (61yo)

11.1yrs

Tenure

€956,000

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: Jos P.'s total compensation ($USD1.04M) is below average for companies of similar size in the UK market ($USD3.31M).

Compensation vs Earnings: Jos P.'s compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Jos P. Baeten
Chairman of the Executive Board & CEO11.1yrs€956.00k0.0016% 84.6k
Annemiek T. van Melick
CFO & Member of Executive Board0yrsno datano data
Ingrid Graaf-de Swart
Member of Executive Board0.2yrsno datano data
Jan de Jager
Member of Management Board0yrsno datano data
Patrick Klijnsmit
Director of Accounting7.6yrsno datano data
Michel Hülters
Head of Investor Relations and Ratings0yrsno datano data
Boudewijn Uden
Managing Director of Corporate Communications0yrsno datano data
Jolanda Sappelli
Managing Director of Human Resources0yrsno datano data
Fleur Rieter
Managing Director of Pension Business0yrsno datano data
Robert Schaaf
Managing Director of Non-Life Business0yrsno datano data

7.6yrs

Average Tenure

49.5yo

Average Age

Experienced Management: 0RHS's management team is seasoned and experienced (7.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Herman Hintzen
Supervisory Board Member4.1yrs€44.00kno data
Cor van den Bos
Vice Chairman of the Supervisory Board4.1yrs€44.00kno data
C. Van der Pol
Chairman of the Supervisory Board11.2yrs€54.00kno data
Gerard van Olphen
Member of Supervisory Board0.3yrsno datano data
Sonja Barendregt-Roojers
Member of Supervisory Board1.8yrs€30.00kno data
Gisella van Vollenhoven
Member of Supervisory Board0.3yrsno datano data

2.9yrs

Average Tenure

63yo

Average Age

Experienced Board: 0RHS's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ASR Nederland N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ASR Nederland N.V.
  • Ticker: 0RHS
  • Exchange: LSE
  • Founded: 1720
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: €5.125b
  • Shares outstanding: 141.00m
  • Website: https://www.asrnederland.nl

Number of Employees


Location

  • ASR Nederland N.V.
  • Archimedeslaan 10
  • Utrecht
  • Utrecht
  • 3584 BA
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASRNLENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURJun 2016
A16DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2016
0RHSLSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2016
ASRNLABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 2016
ASRR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2016

Biography

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. was founded in 1720 and is headquartered in Utrecht, the Netherlands. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 22:56
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.