NN Group N.V. (NNGRY) Stock Analysis

Why this analysis is different

• A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

NN Group N.V. (NNGRY) Financial Services Profile

NN Group N.V. is a diversified financial services provider with a strong presence in the Netherlands and expanding operations in Europe and Japan, offering life and non-life insurance, banking, and asset management solutions with a focus on digital innovation and customer-centric services.

What Is the Investment Thesis for NNGRY?

NN Group presents a compelling investment case based on its strong market position in the Netherlands and its growth potential in international markets. With a P/E ratio of 25.0 and a dividend yield of 5.29%, the company offers a balance of value and income. Key growth catalysts include expansion in Central and Eastern Europe and continued digital transformation. However, investors may want to evaluate potential risks such as regulatory changes and economic downturns affecting insurance and banking operations. The company's beta of 0.53 suggests lower volatility compared to the broader market.

Based on FMP financials and quantitative analysis

NNGRY Key Highlights

• Market capitalization of $23.4B, reflecting its significant presence in the European financial services market.
• Profit margin of 9.5%, indicating efficient operations and profitability in a competitive industry.
• Dividend yield of 5.29%, offering an attractive income stream for investors.
• Gross margin of 100.0%, primarily due to the nature of insurance revenue recognition.
• Beta of 0.53, suggesting lower volatility compared to the broader market, making it a potentially stable investment.

Who Are NNGRY's Competitors?

NNGRY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance

What Are NNGRY's Key Strengths?

• Strong market position in the Netherlands.
• Diversified product portfolio.
• Established distribution network.
• Solid capital position.

What Are NNGRY's Weaknesses?

• Exposure to regulatory changes in the financial services industry.
• Dependence on macroeconomic conditions.
• Competition from larger global players.
• Potential for operational risks.

What Could Drive NNGRY Stock Higher?

• Digital transformation initiatives aimed at improving customer experience and operational efficiency.
• Expansion in Central and Eastern European markets.
• Potential strategic partnerships to expand distribution network in the next 1-2 years.
• Development and promotion of ESG-focused investment products to attract socially conscious investors.

What Are the Key Risks for NNGRY?

• Financial-distress signal — its Altman Z-Score of -0.64 sits in the distress zone (elevated bankruptcy risk).
• Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
• Rich valuation — a P/E of 25.0 runs well above the Financial Services sector’s ~18x, leaving little room for a miss.
• Economic downturns affecting insurance and banking operations.
• Exposure to regulatory changes in the financial services industry.
• Increasing competition from fintech companies.
• Cybersecurity risks and data breaches.
• Fluctuations in interest rates impacting mortgage demand.

What Are the Growth Opportunities for NNGRY?

• Expansion in Central and Eastern Europe: NN Group has the opportunity to expand its insurance and asset management services in the growing markets of Central and Eastern Europe. These regions offer higher growth potential compared to mature Western European markets, driven by increasing disposable incomes and rising insurance penetration rates. Successful expansion could significantly increase NN Group's revenue and market share over the next 3-5 years.
• Digital Transformation and Customer Experience: Investing in digital technologies to enhance customer experience and streamline operations presents a significant growth opportunity. By leveraging data analytics and AI, NN Group can personalize products, improve customer service, and reduce costs. This initiative could lead to increased customer retention and acquisition, boosting revenue and profitability within the next 2-3 years.
• Pension Market Growth: With aging populations in Europe and Japan, the demand for pension products and retirement solutions is increasing. NN Group can capitalize on this trend by offering innovative pension plans and investment strategies tailored to the needs of different customer segments. This growth opportunity is expected to materialize over the next 5-10 years, contributing to long-term revenue growth.
• Strategic Partnerships and Bancassurance: Strengthening partnerships with banks and other financial institutions can expand NN Group's distribution network and reach new customer segments. Bancassurance agreements allow NN Group to offer its insurance products through bank branches, increasing sales and market penetration. These partnerships can be established within the next 1-2 years, providing immediate access to a wider customer base.
• Sustainable and Responsible Investing: Growing investor interest in sustainable and responsible investing (SRI) presents an opportunity for NN Group to develop and promote ESG-focused investment products. By integrating environmental, social, and governance factors into its investment strategies, NN Group can attract socially conscious investors and enhance its brand reputation. This trend is expected to gain momentum over the next 3-5 years, driving demand for SRI products.

What Opportunities Does NNGRY Have?

• Expansion in Central and Eastern Europe.
• Digital transformation and customer experience enhancement.
• Growth in the pension market.
• Strategic partnerships and bancassurance.

What Threats Does NNGRY Face?

• Economic downturns affecting insurance and banking operations.
• Increasing competition from fintech companies.
• Rising interest rates impacting mortgage demand.
• Cybersecurity risks and data breaches.

What Are NNGRY's Competitive Advantages?

• Strong brand recognition and reputation in the Netherlands.
• Established distribution network through various channels.
• Diversified product portfolio across insurance, banking, and asset management.
• Significant scale and market share in key segments.

What Does NNGRY Do?

NN Group N.V., established in 1845 and headquartered in The Hague, Netherlands, has evolved from its origins as part of Nationale-Nederlanden to become a leading financial services provider. Following its separation from ING Group in 2014, NN Group has focused on strengthening its market position in insurance, pensions, and banking. The company operates through several segments, including Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Banking, and Other. NN Group offers a comprehensive suite of products, including life insurance, pension plans, non-life insurance (motor, fire, liability), employee benefits, and health insurance. Additionally, it provides banking services such as mortgages, savings accounts, and consumer lending. The company serves a diverse customer base, ranging from individuals and small businesses to large corporations and institutional investors, utilizing a multi-channel distribution strategy that includes tied agents, bancassurance partners, brokers, and direct channels. NN Group's strategic focus includes enhancing customer experience through digital innovation and maintaining a strong capital position to support future growth and shareholder returns.

What Products and Services Does NNGRY Offer?

• Provides life insurance products to individuals and groups.
• Offers non-life insurance, including motor, fire, and liability coverage.
• Manages pension funds and provides retirement solutions.
• Offers banking services such as mortgages and savings accounts.
• Provides health insurance products.
• Offers corporate-owned life insurance products.
• Provides reinsurance services.

How Does NNGRY Make Money?

• Generates revenue from insurance premiums.
• Earns income from banking services, including interest on loans and fees.
• Manages assets and earns fees from investment management activities.
• Distributes products through tied agents, brokers, and bancassurance partners.

What Industry Does NNGRY Operate In?

NN Group operates in the diversified insurance and financial services industry, which is characterized by increasing regulatory scrutiny, evolving customer expectations, and technological disruption. The industry is witnessing a shift towards digital channels and personalized products. NN Group competes with major European insurers such as AEGOF (Aegon) and BNDSF (Baloise Holding), as well as banking institutions. The market is influenced by macroeconomic factors such as interest rates, inflation, and economic growth, which impact insurance premiums and investment returns.

Who Are NNGRY's Key Customers?

• Individuals seeking life and non-life insurance.
• Small and medium-sized enterprises (SMEs) requiring insurance and banking services.
• Retail customers using banking and investment products.
• Institutional customers investing in pension funds and other financial products.

NNGRY Valuation & Market Position

With a $23.4B market cap, NN Group N.V. sits in the large-cap segment of the market. Relative to its peer group, NNGRY's quantitative score of 49/100 is roughly in line with the peer average of 57/100.

FY2026 estForward Outlook

Wall Street analysts project NN Group N.V. revenue of about $5.63B for fiscal 2026, with EPS near $4.70.

F-Score 3/9Financial Health

NN Group N.V.'s Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -0.64 places it in the distress zone, a signal of elevated financial risk.

ROE 4%Key Financial Metrics

Return on equity for NN Group N.V. stands at 4.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 0.4%, showing how much profit it generates from its asset base. NNGRY trades at a trailing price-to-earnings ratio of 24.98, above the Financial Services sector average of ~18x. Its free cash flow yield is 0.8%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.08 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 3.8%, the inverse of the P/E and a quick read on earnings relative to price.

NNGRY Financials

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NNGRY Analyst Consensus

NNGRY MoonshotScore

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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