NN Group N.V.

NN.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

Exceptional

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Strong

Dividends

Exceptional

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Winston Score History

The full picture

NN Group is a Dutch insurance and financial services company based in the Netherlands. It sells life insurance, pension products, and non-life insurance like home and car coverage to individuals and businesses. The company operates mainly in the Netherlands and several other European countries, including Belgium, Poland, and Romania.

NN Group earns money primarily through insurance premiums that customers pay regularly, plus investment income from managing the large pool of money it holds to pay future claims. With roots going back over 170 years and a strong brand in the Netherlands, it holds a leading market position in Dutch life insurance and pensions. The main risk the company faces is low or volatile interest rates, which can reduce the returns it earns on its investment portfolio and make it harder to meet long-term pension and life insurance obligations.

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

-4.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+197.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€7.3B cash & investments

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

Revenue declining

NN Group N.V.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

79.9%

Excellent — 79.9% operating margin

Return on the money invested

ROCE

33.0%

Exceptional — 33.0% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+0.6%

Nearly flat sales (+0.6% YoY)

Profit growth

EPS YoY

+44.3%

Earnings growing fast (+44.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

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

-127%

Weak — only -127% of profit becomes cash

Spare cash per sale

FCF Margin

-16.9%

Burning cash (-16.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.61

Moderate — manageable debt (0.61)

Covers its interest

Interest Cover

5.46x

Adequate interest coverage (5.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

11.5x

no trend

Attractive valuation — P/E 11.5

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

+2.7

GROWING

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

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Dividends

Dividend

Dividend Yield

13.18%

no trend

Healthy income — 13.18% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+22.2%

no trend

Dividend growing fast (22.2% YoY)

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