Netcompany Group A/S

60N.F · Technology · Information Technology Services · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

997.47M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

800.44M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

588.94M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

795.62M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

2.55B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.31×

the ratio the screener ranks by

Margin of Safety

-221.1%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 997.47M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)1.48B USD
−②Net Debt Today642.50M USD
+③Growth Value162.12M USD
=Value997.47M USD

EPV of the Operations (NOPAT over WACC)

1.48B USD

Net debt today

-642.50M USD

Growth Value

+162.12M USD

Value

997.47M USD

①EPV (earnings power value)

1.48B USD

②Net Debt Today

642.50M USD

③Growth Value

162.12M USD

Market value

Market Cap2.55B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-156.1%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 800.44M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE592.56M USD
+②Equity at Year 15, Today207.88M USD
=Value800.44M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

592.56M USD

②Equity at Year 15, Today

207.88M USD

Market value

Market Cap2.55B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-219.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 588.94M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF814.01M USD
+②Invested Capital at Year 15, Today417.42M USD
−③Net Debt Today642.50M USD
=Value588.94M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

814.01M USD

②Invested Capital at Year 15, Today

417.42M USD

③Net Debt Today

642.50M USD

Market value

Market Cap2.55B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-333.8%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 7.45%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.72×Market Risk Premium 6.00%= 8.83%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 18.69M USDPretax Income 59.15M USD= 31.59%

The tax the interest saves.

Interest Expense =EBIT 77.56M USD−Pretax Income 59.15M USD= 18.40M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 18.40M USDTotal Debt 642.50M USD×(1 − Tax Rate for WACC 31.59%)= 1.96%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 642.50M USDMarket Cap + Total Debt 2.55B USD + 642.50M USD= 20.09%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 79.91%×Cost of Equity 8.83%+Debt Weight 20.09%×Cost of Debt 1.96%= 7.45%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 1.66B USD − Total Liabilities 1.14B USD = Book Value Today 523.93M USD

Total Debt 642.50M USD − Cash 0 USD = Net Debt Today 642.50M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-9.9%at most 5%passes44,683,562 / 49,570,856
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets3.1%at least -10.0%passes(91.77M USD − 40.45M USD) ÷ 1.66B USD
Price to bookMarket Cap ÷ Book Value Today4.88×at most 3×does not pass2.55B USD ÷ 523.93M USD
Operating marginOperating Income ÷ Revenue11.6%above 10.0%passes144.39M USD ÷ 1.24B USD
Revenue growthRevenue ÷ Revenue a Year Before − 136.0%above 10.0%passes1.24B USD / 913.54M USD
Net cash(Cash − Total Debt) ÷ Market Cap-25.1%above -30%passes(0 USD − 642.50M USD) ÷ 2.55B USD
Operating efficiencyOperating Income ÷ Gross Profit41.3%above 25.0%passes144.39M USD ÷ 349.38M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

51.70 EUR

Enterprise value

—

the provider's own figure

EV / EBITDA

—

Price / book

5.04×

the provider's book

Price / earnings

42.34×

Return on equity

11.7%

the provider's figure, not this page's

Profit margin

4.5%

Revenue growth

43.3%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

795.72M903.52M913.54M1.24B

Gross profit

254.38M253.14M269.34M349.38M

Operating income

119.70M85.95M110.83M144.39M

EBITDA

operating income before depreciation and amortisation

154.72M129.14M148.25M145.04M

Pretax income

108.57M64.26M87.16M59.15M

Net income

86.60M45.11M65.67M40.45M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

86.93M45.17M66.54M78.71M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

1.03B1.21B1.13B1.56B

Total liabilities

526.26M643.60M622.50M1.01B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

505.26M568.34M504.97M549.22M

Total debt

313.66M388.00M344.24M573.04M

Cash and equivalents

48.22M66.61M35.04M45.26M

Net PP&E

fixed assets after depreciation

47.30M140.38M124.91M161.46M

Working capital

current assets less current liabilities

186.31M191.07M146.84M-3.53M
Cash flow (USD)2022202320242025

Operating cash flow

110.94M112.76M135.05M91.77M

Capital expenditure

paid out, so below zero

-24.43M-30.68M-20.38M-35.77M

Depreciation and amortisation

39.14M47.97M42.50M67.48M

Free cash flow

operating cash flow plus capital expenditure

86.51M82.08M114.67M56.00M