Company Valuation: NN Group N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 14,709 11,257 9,791 11,525 17,379 19,858 - -
Change - -23.47% -13.03% 17.71% 50.8% 14.27% - -
Enterprise Value (EV) 1 19,729 19,733 15,451 16,125 17,379 30,545 30,453 30,347
Change - 0.02% -21.7% 4.36% 7.78% 75.76% -0.3% -0.35%
P/E ratio 4.57x 7.5x 8.85x 7.54x 15.8x 9.42x 9x 8.69x
PBR 0.42x 0.6x 0.47x 0.52x - 0.96x 0.91x 0.87x
PEG - -0.1x -0.4x 0.2x -0.6x 0.1x 1.91x 2.46x
Capitalization / Revenue 1.03x 0.83x 0.74x 0.82x 1.31x 1.44x 1.38x 1.33x
EV / Revenue 1.38x 1.45x 1.17x 1.15x 1.31x 2.21x 2.12x 2.03x
EV / EBITDA - - 5.77x - - 10.6x 10.5x 10.5x
EV / EBIT 9.69x 11.8x 6.11x 6.26x 5.79x 10.5x 10.2x 9.72x
EV / FCF -7.47x -2.37x 32.9x 10.6x - 17.3x 16x 15x
FCF Yield -13.4% -42.2% 3.04% 9.42% - 5.78% 6.26% 6.66%
Dividend per Share 2 2.49 2.79 3.2 3.44 - 4.138 4.402 4.79
Rate of return 5.23% 7.31% 8.95% 8.18% - 5.46% 5.81% 6.32%
EPS 2 10.41 5.09 4.04 5.58 4.17 8.039 8.417 8.714
Distribution rate 23.9% 54.8% 79.2% 61.6% - 51.5% 52.3% 55%
Net sales 1 14,312 13,641 13,187 13,978 13,256 13,816 14,376 14,984
EBITDA 1 - - 2,680 - - 2,893 2,889 2,888
EBIT 1 2,036 1,667 2,528 2,574 3,002 2,912 2,987 3,122
Net income 1 3,278 1,562 1,172 1,583 1,188 2,056 2,115 2,160
Net Debt 1 5,020 8,476 5,660 4,600 - 10,687 10,595 10,488
Reference price 2 47.61 38.16 35.75 42.07 65.74 75.74 75.74 75.74
Nbr of stocks (in thousands) 3,08,945 2,95,000 2,73,862 2,73,943 2,64,362 2,62,192 - -
Announcement Date 17/02/22 16/02/23 29/02/24 20/02/25 12/02/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.48x2.22x10.6x5.43% 2.33TCr
6.21x2.58x - 3.36% 14TCr
15.41x - - 2.42% 12TCr
9.98x0.48x11.81x1.5% 5.33TCr
11.03x - - 4.06% 4.2TCr
16.23x10.38x98.67x2.56% 3.26TCr
70.39x1.44x - 0.17% 1.96TCr
67.12x1.23x - 0.36% 1.38TCr
15.17x0.77x - 3.2% 1.21TCr
9.98x2.44x9.25x0.83% 1.2TCr
Average 23.10x 2.69x 32.58x 2.39% 4.63TCr
Weighted average by Cap. 15.11x 2.81x 34.69x 2.73%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation NN Group N.V.