NN.AS · bank / insurer · relative-multiples view
NN Group N.V. (NN.AS): Valuation Snapshot
NN Group N.V. (NN.AS) is a bank, insurer or other financial, and a discounted-cash-flow model is the wrong lens for one, so TickerWorth does not publish a DCF fair value for it. What its filings and market data do show is below. Snapshot as of Oct 19, 2026.
Model by Miraaj Patel · generated from public market data · Updated Oct 19, 2026 · How these pages are made
How is a bank like NN.AS valued?
This is a bank / insurer / financial. A free-cash-flow DCF is structurally the wrong lens here (their debt and float are raw material, not financing), so we don't publish one. Our bank model (justified price-to-book) declined to value it too: our cost-of-equity inputs are US-market (10-year Treasury, US equity risk premium); we don't apply them to a EUR listing. The price-to-book and price-to-earnings figures below are context for comparison, not a fair value.
Bank model (justified price-to-book)
Not published. Our cost-of-equity inputs are US-market (10-year Treasury, US equity risk premium); we don't apply them to a EUR listing.
What is NN.AS's TickerWorth Score?
Scores higher than almost every company we compare it with
Compared with Financial Services companies in Europe
Its strongest point: trades below our estimate of what it's worth. Its weakest: profitability is weak.
- Value · 65 of 100
Cheaper than 65% of Financial Services companies in Europe
- Price vs worth · 100 of 100
- Quality · 34 of 100
More profitable than 34% of Financial Services companies in Europe
- Financial health · 80 of 100
Financially stronger than 80% of Financial Services companies in Europe
- Growth · 68 of 100
Growing faster than 68% of Financial Services companies in Europe
- Momentum · 53 of 100
Outperformed 53% of Financial Services companies in Europe over the past year
Confidence: Medium confidence · Scored
Get the Undervalued Company of the Week.
- Price
- €75.74
- Market cap
- €19,
606, 773, 760 - 52-week high
- €83.40
- 52-week low
- €58.52
- Currency
- EUR
- Exchange
- Amsterdam
Snapshot of Oct 19, 2026, quote time not published · Prices are delayed.
What we can say
NN Group N.V. (NN.AS) is a bank, insurer or other financial, and a free-cash-flow discounted-cash-flow (DCF) model is structurally the wrong lens for it: for these businesses debt and float are raw material, not financing, so there is no meaningful 'free cash flow' to discount. Instead of a misleading intrinsic-value number, this page reads NN.AS the way financials are actually valued — on relative multiples such as price-to-earnings and, above all, price-to-book — plus a plain description of where the stock trades. It is a descriptive snapshot, not a valuation, and not investment advice.
Read the full reasoning
On the numbers we do have, NN.AS trades at a recent price of €75.74, a market capitalisation of about €19,606,773,760, sitting 69% of the way up its 52-week range (€58.52–€83.40), on the Amsterdam.
The standard alternative to a DCF is relative valuation — comparing NN.AS's trading multiples against a sector benchmark. Here that gives P/E of 11.2× (cheaper than the peer median of 14.2×); Fwd P/E of 8.5× (cheaper than the peer median of 13.3×); P/B of 0.9× (cheaper than the peer median of 2.6×); P/S of 1.4× (cheaper than the peer median of 4.7×); Dividend yield of 5.3% (cheaper than the peer median of 1.9%). A cheaper multiple than peers can flag a discount or a market that expects weaker growth; it is a comparison, not a recommendation.
The asset, or book-value, lens is the classic tool for asset-heavy businesses and financials. NN.AS shows a price-to-book (P/B) of 0.94 and book value of €80.29 per share. Price-to-book compares the market price to the accounting net-asset value per share; below 1.0 can mean a discount to net assets or that the market is pricing in trouble — descriptive either way, never a buy signal on its own.
Finally, a price-based read — explicitly not a valuation. NN.AS is in a mixed trend, trading -9.2% from its 52-week high. Over the past year the stock is +29.2%. Moving-average trend and 52-week position describe where the stock has traded; they say nothing about what it is worth.
To be exact about what this page is not: we are not saying the numbers for NN.AS are unavailable. They are, and they are above. We are saying a discounted-cash-flow model is the wrong instrument for this kind of business, and publishing one anyway — because the inputs happen to exist — would be a precise answer to the wrong question. Refusing is the more useful answer, and it is the same rule we apply to every name in this category.
NN.AS vs peers
Sector benchmark (bellwethers, not direct competitors).
| Multiple | NN.AS | Peer median | Read |
|---|---|---|---|
| P/E | 11.2× | 14.2× | cheaper than |
| Fwd P/E | 8.5× | 13.3× | cheaper than |
| P/B | 0.9× | 2.6× | cheaper than |
| P/S | 1.4× | 4.7× | cheaper than |
| Dividend yield | 5.3% | 1.9% | cheaper than |
What does NN Group N.V. do?
What does it do?
NN Group N.V., a financial services company, provides life and non-life insurance products in the Netherlands and internationally. It operates through the Netherlands Life, the Netherlands Non-Life, Insurance Europe, Japan Life, and NN Bank segments. It operates in the Insurance - Diversified industry (Financial Services sector), headquartered in Netherlands. The company employs roughly 13,393 people.
How does it make money?
The business turns 14.0B in annual revenue into profit. Out of every $100 of sales, about $31 is left as operating profit (operating margin of 31.2%), after a 57% gross margin on the products/services it sells. After all costs, taxes and interest, 13.3% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks solid: carries modest debt (0.6× equity), comfortably covers its short-term bills (70.6× current ratio), and is currently profitable.
NN.AS insider trading
Insider filings are available for US-listed companies only.
Companies we do put a number on
Not investment advice. TickerWorth Score is a model output.
A descriptive, available-data snapshot and relative comparison — NOT a DCF, NOT a price target, and NOT investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public market data that can be wrong, stale or incomplete.