ENXTAM:ASRNL

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

Fundamentals

Undervalued average dividend payer.


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


Market Performance


7 Day Return

-2.7%

ASRNL

0.03%

NL Insurance

0.3%

NL Market


1 Year Return

-20.9%

ASRNL

3.8%

NL Insurance

2.0%

NL Market

ASRNL underperformed the Insurance industry which returned 3.8% over the past year.

ASRNL underperformed the Market in Netherlands which returned 2% over the past year.


Share holder returns

ASRNLIndustryMarket
7 Day-2.7%0.03%0.3%
30 Day5.3%5.8%4.8%
90 Day-5.8%-0.1%0.5%
1 Year-16.6%-20.9%9.2%3.8%6.4%2.0%
3 Year109.6%78.6%48.0%27.4%42.6%27.0%
5 Yearn/a59.1%23.5%57.7%25.9%

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

2 weeks ago | Simply Wall St

Here's What ASR Nederland N.V.'s (AMS:ASRNL) P/E Ratio Is Telling Us

Valuation

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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 Based on Earnings

ASR Nederland is good value based on earnings compared to the Europe Insurance industry average.

ASR Nederland is good value based on earnings compared to the Netherlands market.


Price Based on Expected Growth

ASR Nederland is poor value based on expected growth next year.


Price Based on Value of Assets

ASR Nederland is good value based on assets compared to the Europe Insurance industry average.


Next Steps

Future Growth

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

0.08%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

ASR Nederland's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

ASR Nederland's earnings are expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).

ASR Nederland's revenues are expected to decrease over the next 1-3 years, this is below the Netherlands market average.

ASR Nederland's earnings growth is positive but not above the Netherlands market average.

ASR Nederland's earnings growth is positive but not above the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

ASR Nederland is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has ASR Nederland performed over the past 5 years?

15.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

ASR Nederland's year on year earnings growth rate has been positive over the past 5 years.

ASR Nederland's 1-year earnings growth is negative, it can't be compared to the 5-year average.

ASR Nederland's 1-year earnings growth is negative, it can't be compared to the Europe Insurance industry average.


Return on Equity

ASR Nederland has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

ASR Nederland used its assets more efficiently than the Europe Insurance industry average last year based on Return on Assets.


Return on Capital Employed

ASR Nederland has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is ASR Nederland's financial position?


Financial Position Analysis

ASR Nederland is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

ASR Nederland's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

ASR Nederland's level of debt (118.3%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (69.2% vs 118.3% today).

Operating cash flow is negative therefore debt is not well covered.

Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 3.6x debt.


Next Steps

Dividend

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

6.06%

Expected Dividend Yield


Dividend Yield and Payments Analysis

ASR Nederland's pays a higher dividend yield than the bottom 25% of dividend payers in Netherlands (2.35%).

ASR Nederland's dividend is above the markets top 25% of dividend payers in Netherlands (5.94%).

ASR Nederland 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 ASR Nederland only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.3x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).


Next Steps

Management

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

7.2yrs

Average management tenure


CEO

Jos P. Baeten (61yo)

10.7yrs

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

Jos P.'s remuneration is lower than average for companies of similar size in Netherlands.

Jos P.'s compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

7.2yrs

Average Tenure

49yo

Average Age

The average tenure for the ASR Nederland management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

3.7yrs

Average Tenure

65.5yo

Average Age

The tenure for the ASR Nederland board of directors is about average.


Insider Trading

More shares have been bought than sold by ASR Nederland individual insiders in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

Buy€24,51928 Aug 19
Jos P. Baeten
EntityIndividual
Role
Chief Executive Officer
Chairman of the Executive Board & CEO
Shares757
Max Price€32.39
Buy€13,47428 Aug 19
H. Figee
EntityIndividual
Role
Chief Financial Officer
CFO & Member of Executive Board
Shares416
Max Price€32.39

Ownership Breakdown


Management Team

  • Jolanda Sappelli

    Managing Director of Human Resources

    • Tenure: 0yrs
  • Michel Hülters

    Head of Investor Relations and Ratings

    • Tenure: 0yrs
  • Jos P. Baeten (61yo)

    Chairman of the Executive Board & CEO

    • Tenure: 10.7yrs
    • Compensation: €956.00k
  • Fleur Rieter (49yo)

    Managing Director of Pension Business

    • Tenure: 0yrs
  • H. Figee (47yo)

    CFO & Member of Executive Board

    • Tenure: 5.3yrs
    • Compensation: €627.00k
  • Robert Schaaf

    Managing Director of Non-Life Business

    • Tenure: 0yrs
  • Frank Romijn

    Managing Director of Occupational Disability Business

    • Tenure: 0yrs
  • Patrick Klijnsmit

    Director of Accounting

    • Tenure: 7.2yrs
  • Philippe Wits

    Chief of Digital & Disruption

    • Tenure: 0yrs
  • Boudewijn Uden

    Managing Director of Corporate Communications

    • Tenure: 0yrs

Board Members

  • Herman Hintzen (64yo)

    Supervisory Board Member

    • Tenure: 3.7yrs
    • Compensation: €44.00k
  • Cor van den Bos (67yo)

    Vice Chairman of the Supervisory Board

    • Tenure: 3.7yrs
    • Compensation: €44.00k
  • Kick Van der Pol (70yo)

    Chairman of the Supervisory Board

    • Tenure: 10.8yrs
    • Compensation: €54.00k
  • Sonja Barendregt-Roojers (62yo)

    Member of Supervisory Board

    • Tenure: 1.3yrs
    • Compensation: €30.00k

Company Information

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


Key Information

  • Name: ASR Nederland N.V.
  • Ticker: ASRNL
  • Exchange: ENXTAM
  • Founded: 1720
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: €4.661b
  • Shares outstanding: 141.00m
  • Website: https://www.asrnl.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
A1AK9TDB (Deutsche Boerse AG)10%-FRN GTD SUB PERP EUR1 'REGS'DEEURAug 2009
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 a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/21 21:42
End of Day Share Price2019/09/20 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.