ASR Nederland N.V.

ASRNL.AS

Insurance - Diversified · Financial Services

Exchange

Euronext Amsterdam

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Strong

Stability

Weak

Valuation

Strong

Dividends

Exceptional

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Winston Score History

The full picture

ASR Nederland N.V. is a Dutch insurance company based in the Netherlands. It sells a wide range of insurance products, including life insurance, health insurance, property insurance, and pension services. The company mainly serves individual customers and businesses across the Netherlands, making it one of the largest insurers in the country.

ASR makes money by collecting premiums from policyholders and investing those funds to generate returns. It operates almost entirely within the Netherlands, which keeps its business focused but also ties its performance closely to the Dutch economy and local regulations. The company has a strong position in the Dutch market, partly due to its 2023 merger with Aegon Netherlands, which significantly expanded its scale and customer base. The main risk going forward is rising claims costs from inflation and an aging population, which could pressure profit margins if investment returns or premium pricing do not keep pace.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+23.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+673.5% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

4.5%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

€102.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

ASR Nederland N.V. is a rare growth stock that's already generating positive cash flow while growing at 24%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

10.3%

Modest — 10.3% operating margin

Return on the money invested

ROCE

17.7%

Strong — 17.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+25.0%

Fast-growing sales (+25.0% YoY)

Profit growth

EPS YoY

+10.8%

Earnings growing (+10.8% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

109%

Turns 109% of profit into real cash

Spare cash per sale

FCF Margin

6.6%

Modest free cash flow (6.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

0.26x

Dangerous — barely covers interest (0.3x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

12.1x

no trend

Attractive valuation — P/E 12.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+1.4

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

4.86%

no trend

Healthy income — 4.86% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+16.8%

no trend

Dividend growing fast (16.8% YoY)

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