ASR Nederland N.V (ASRRF) fair value: what the stock is really worth
As of Aug 21, 2026: fair value of ASR Nederland N.V $45.76, price $76.23, upside -40.0%, quality 26 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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ASR Nederland N.V. provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands. The company operates through five segments: Non-Life, Life, Asset Management, Distribution and Services, and Holding and Other.
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ASR Nederland N.V. provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands. The company operates through five segments: Non-Life, Life, Asset Management, Distribution and Services, and Holding and Other. It offers individual and group disability, as well as sickness leave; property and casualty, including motor, fire, liability, legal aid, travel and recreation, pet, and transport insurance; and health insurance, such as basic and supplementary health insurance. The company also provides pension products; Individual term life insurance; and funeral capital insurance. In addition, it is involved in the provision of asset management services, including investment property management, as well as managing of corporate bonds, government bonds, and equities; investment solutions; manages non-listed sector funds, which invest in retail and residential properties, offices, real estate on science parks, agricultural land, and renewable energy sources comprising wind, solar farms, and energy storage; and develops investment strategies. Further, the company operates in the residential mortgage markets under a.s.r. and Aegon brands; and specialised products for first-time buyers, customers who want to finance sustainable home modifications and senior citizens. Additionally, it engages in the provision of distribution and services; involved in the group-related activities, real estate development business, and activities relating to private investments for customers; offers expert guidance, software and advice on creating healthy and safe working environments services under the ArboNed, Mensely, HumanCapitalCare, Focus, and IT&Care brands; and health and reintegration services. The company was formerly known as Fortis Verzekeringen Nederland N.V. and changed its name to ASR Nederland N.V. in October 2008. The company was founded in 1720 and is based in Utrecht, the Netherlands.
Stock analysis
ASR Nederland N.V (ASRRF) currently trades at $76.23, while our model-based Fair Value estimate is $45.76, 40.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $44.01 per share, and 0 of the 4 models we run sit above the $76.23 price.
Bear case: the Asset-Based group reads lowest at $37.28, and 4 of the 4 models stay below the price. Evidence for this calculation is high.
Scenario range: $44.38 (bear) to $49.39 (bull), the price of $76.23 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 26/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
ASR Nederland N.V reported revenue of €13.1B in FY2025 versus €9.8B in FY2021, a compound +7.5%/yr. Reported net income was €548M in FY2025, compounding −11.5%/yr from FY2021.
Key figures
Market cap $15.6B · P/E ratio 30.4 · P/S ratio 1.27 · EPS (TTM) $2.51 · Dividend yield 4.5% · Net margin 4.2% · Return on equity 5.7% · Return on assets (EBIT) 1.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 1% below its 52-week high and 23% above its 52-week low.
For context, the median of 10 Financial Services peers we cover trades at −22% fair-value upside, at −40%, ASRRF screens richer than that median.
Fair Value models
Bear $44.38Fair Value $45.76Bull $49.39
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.6/100
Revenue growth is weak, negative or inconsistent.
Revenue growth 1 year
−27.0%
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.8%
’14
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’21
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−12.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.5%
Dividend (yield on the price)4.5%
Profit margin 2014 to 2019 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 17%
News mood ⓘNews mood, the average tone of recent news (16 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Diversified · 82 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score26 · Bottom 25%
Fair Value upside−45.7% · Bottom 25%
Profitability
Return on equity (TTM)5.7% · Bottom 25%
Return on assets2.8% · Above median
Net margin (TTM)3.2% · Bottom 25%
Operating margin (TTM)34.9% · Top 25%
Growth and dividend
Revenue growth9.5% · Above median
Dividend yield (TTM)4.5% · Above median
Balance sheet
Debt / equity0.88× · Highest 25%
Valuation Multiplesvs Insurance - Diversified median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ASR Nederland N.V Fair Value". https://www.fairvalue-calculator.com/stock/ASRRF
Frequently asked questions
Is ASR Nederland N.V (ASRRF) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $45.76 versus the last price from Aug 21, 2026 of $76.23, about −40% upside (overvalued).
What is the fair value of ASRRF?
Our model-based fair value for ASR Nederland N.V is $45.76 (as of Oct 3, 2026), built from audited fundamentals. Last price (from Aug 21, 2026): $76.23.
What is the quality score of ASRRF?
ASR Nederland N.V has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ASR Nederland N.V (ASRRF)?
Our model-based price target is the fair value of $45.76 (as of Oct 3, 2026) from 4 valuation models. Cautious scenario $44.38, optimistic scenario $49.39. It is a calculation from audited fundamentals, not an analyst target.
What is the ASR Nederland N.V stock forecast for 2026?
Our models put fair value at $45.76, about −40% upside versus the last price from Aug 21, 2026 of $76.23 (overvalued). Cautious scenario $44.38, optimistic scenario $49.39. The calculation is refreshed regularly with new filings.
What is the revenue of ASR Nederland N.V (ASRRF)?
ASR Nederland N.V reported trailing-twelve-month revenue of about €17.1B (latest available figure, as of Oct 3, 2026).
Does ASR Nederland N.V pay a dividend?
ASR Nederland N.V currently shows a dividend yield of about 4.47% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of ASR Nederland N.V (ASRRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASR Nederland N.V it is $45.76 per share (as of Oct 3, 2026), against a price of $76.23. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is ASR Nederland N.V stock overvalued or undervalued in 2026?
As of Oct 3, 2026, ASRRF trades above its calculated fair value: price $76.23, fair value $45.76, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ASRRF?
No. The price is what the market pays today ($76.23); the fair value is what the company's own numbers justify ($45.76). For ASR Nederland N.V the two are $30.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is ASR Nederland N.V worth?
The market values ASR Nederland N.V at about $15.6B (market capitalisation, as of Oct 3, 2026). Per share that is $76.23; our models calculate a fair value of $45.76 per share.
What do the bullish and bearish scenarios say about ASRRF?
Our models span a range for ASR Nederland N.V: cautious scenario $44.38, base $45.76, optimistic $49.39 per share (as of Oct 3, 2026, price $76.23). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ASRRF?
ASR Nederland N.V trades at a price-to-earnings ratio of 30.4 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $45.76 is built from several models across several years. Other multiples: P/B 1.5, P/S 0.9, EV/EBITDA 3.2.
How solid is the balance sheet of ASR Nederland N.V (ASRRF)?
Balance-sheet figures for ASR Nederland N.V (as of Oct 3, 2026): return on equity 5.7%, debt of 0.88 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is ASRRF from its 52-week high?
ASR Nederland N.V trades at $76.23, about 1% below its 52-week high of $76.62 and 23% above the low of $62.10 (as of Aug 21, 2026). Distance from the high says nothing about value: that is what the fair value of $45.76 is for.
Which stocks are comparable to ASR Nederland N.V?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ASR Nederland N.V stock attractive at the current price?
The data as of Oct 3, 2026: price $76.23, calculated fair value $45.76 (−40%), Quality Score 26/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ASRRF calculated?
We run ASR Nederland N.V through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $45.76, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. ASR Nederland N.V itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ASR Nederland N.V (ASRRF)?
The latest price we hold is from Aug 21, 2026 and stands at $76.23. Our model-based fair value is $45.76, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASR Nederland N.V right now?
The price sits above even our optimistic bull case ($49.39). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The models converge in a tight band ($44.38 to $49.39), unusually little disagreement for a valuation. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of ASR Nederland N.V
How large is the market capitalisation of ASR Nederland N.V (ASRRF)?
The market capitalisation of ASR Nederland N.V is $15.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ASR Nederland N.V (ASRRF)?
The price-to-sales ratio of ASR Nederland N.V is 1.27 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ASR Nederland N.V (ASRRF)?
Earnings per share at ASR Nederland N.V are $2.51 (price ÷ EPS = P/E 30.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASR Nederland N.V (ASRRF)?
The dividend yield of ASR Nederland N.V is 4.5% (payout 136%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ASR Nederland N.V (ASRRF)?
The net margin of ASR Nederland N.V is 4.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ASR Nederland N.V (ASRRF)?
The return on equity (ROE) of ASR Nederland N.V is 5.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ASR Nederland N.V (ASRRF)?
On an EBIT basis the return on assets of ASR Nederland N.V is 1.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ASR Nederland N.V (ASRRF)?
The operating margin of ASR Nederland N.V is 34.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASR Nederland N.V (ASRRF)?
Revenue at ASR Nederland N.V is growing +9.5% versus a year earlier (3y avg +85.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ASR Nederland N.V (ASRRF)?
Earnings per share at ASR Nederland N.V are growing −59.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ASR Nederland N.V (ASRRF) generate?
The free cash flow of ASR Nederland N.V is −€601M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ASR Nederland N.V (ASRRF) carry?
The net debt of ASR Nederland N.V is €6.2B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 3, 2026