ASR Nederland N.V (ASRNL) AI Stock Analysis

ASR Nederland N.V

(Amsterdam:ASRNL)

Select Model

Rating:61Neutral

Price Target:EUR 75.00▼(-0.85% Downside)

Action:reiterated

Date:08/07/26

The score is held back primarily by weakening profitability, elevated leverage, and notably inconsistent cash generation (negative operating/free cash flow in 2024–2025). Offsetting this, technical momentum is strong with the stock trading above major moving averages and positive MACD. Valuation is mixed: a higher P/E is partially balanced by a solid dividend yield.

Positive Factors

Revenue ExpansionSustained revenue expansion indicates that a.s.r. continues to generate demand across its insurance and financial-services activities. A broader revenue base can support operating scale, strengthen distribution economics, and provide a foundation for rebuilding profitability over the next several quarters.

Negative Factors

Margin CompressionThe sharp decline in net margin shows that revenue growth is currently converting into substantially less bottom-line profit. If this weaker earnings mix or higher cost burden persists, it could limit reinvestment, reduce capital-generation capacity, and make future results more sensitive to operating conditions.

ASR Nederland N.V (ASRNL) vs. iShares MSCI Netherlands ETF (EWN)

Market Cap: EUR 15.13B
Dividend Yield: 4.67%
Average Volume (3M): 443.08K
Price to Earnings (P/E): 13.1
Beta (1Y): 0.57
Revenue Growth: 6.11%
EPS Growth: 8.60%
Country: Netherlands
Employees: 9,542
Sector: General
Sector Strength: 55
Industry: Insurance - Diversified

ASR Nederland N.V Business Overview & Revenue Model

Company Description

ASR Nederland N.V. is a Dutch financial services provider that delivers a range of products including insurance coverage, pension plans, and mortgage solutions. It serves a broad customer base, encompassing individuals, independent professionals, and...

How the Company Makes Money

ASR Nederland makes money primarily by (1) underwriting insurance risk and earning premiums in excess of claims and expenses over time, and (2) investing the assets it holds to back long-duration liabilities (especially life insurance and pensions),...

ASR Nederland N.V Financial Statement Overview

Summary

Mixed fundamentals: revenue expanded and earnings stayed positive in 2023–2025, but profitability weakened (net margin down to ~3.0% in 2025 from ~8.1% in 2023). Balance-sheet risk increased as leverage rose (debt-to-equity ~1.21 in 2025 vs ~0.72 in 2022) and equity declined from 2024 to 2025. The largest concern is cash-flow quality, with operating and free cash flow negative in 2024–2025.

Income Statement

62Positive

Balance Sheet

58Neutral

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.49B	21.23B	20.64B	12.76B	-10.55B	9.82B
Gross Profit	20.49B	21.23B	20.64B	12.68B	-10.55B	9.82B
EBITDA	7.64B	6.72B	5.59B	4.07B	-1.83B	1.62B
Net Income	1.26B	582.00M	883.00M	1.04B	-1.76B	894.00M
Balance Sheet
Total Assets	145.27B	142.15B	138.59B	150.77B	61.90B	74.03B
Cash, Cash Equivalents and Short-Term Investments	3.76B	2.71B	4.19B	5.09B	4.29B	32.64B
Total Debt	10.37B	10.42B	10.69B	12.90B	4.46B	6.92B
Total Liabilities	136.29B	133.53B	128.76B	141.39B	55.72B	67.66B
Stockholders Equity	8.97B	8.60B	9.79B	8.34B	6.15B	7.37B
Cash Flow
Free Cash Flow	1.34B	-587.00M	-724.00M	3.55B	-1.15B	-189.00M
Operating Cash Flow	1.37B	-569.00M	-699.00M	3.58B	-961.00M	198.00M
Investing Cash Flow	-155.00M	-25.00M	-1.94B	2.21B	-202.00M	-463.00M
Financing Cash Flow	-950.00M	-900.00M	-1.08B	-130.00M	1.10B	-292.00M

ASR Nederland N.V Technical Analysis

Technical Analysis SentimentPositive

Last Price75.64

Price Trends

50DMA73.11Positive

100DMA70.19Positive

200DMA64.79Positive

Market Momentum

MACD0.85Negative

RSI64.61Neutral

STOCH83.06Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:ASRNL, the sentiment is Positive. The current price of 75.64 is above the 20-day moving average (MA) of 73.64, above the 50-day MA of 73.11, and above the 200-day MA of 64.79, indicating a bullish trend. The MACD of 0.85 indicates Negative momentum. The RSI at 64.61 is Neutral, neither overbought nor oversold. The STOCH value of 83.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:ASRNL.

ASR Nederland N.V Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

NL:ASRNL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NL:VLK	73Outperform	EUR 2.64B	15.67	13.78%	6.12%	4.68%	―
NL:INGA	70Outperform	EUR 78.77B	12.02	13.48%	4.63%	6.57%	17.38%
NL:AGN	68Neutral	EUR 11.11B	11.38	12.23%	5.68%	16.43%	-22.63%
NL:ABN	66Neutral	EUR 32.29B	13.71	10.15%	4.25%	-2.84%	11.56%
NL:ASRNL	61Neutral	EUR 15.13B	13.13	14.36%	4.67%	6.11%	8.60%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NL:NN	54Neutral	EUR 19.59B	11.47	8.86%	5.21%	39.01%	44.63%

* General Sector Average

Performance Comparison

NL:ASRNL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NL:ASRNL	ASR Nederland N.V	75.64	20.29	36.66%
NL:ABN	ABN AMRO Group N.V.	39.62	14.75	59.33%
NL:AGN	Aegon NV	7.39	1.14	18.29%
NL:INGA	Ing Groep N.V.	28.25	7.41	35.57%
NL:NN	NN Group N.V.	77.78	21.06	37.14%
NL:VLK	Van Lanschot N.V.	62.05	13.79	28.58%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 06, 2026

ASR Nederland N.V AI Stock Analysis