Netcompany Group A/S (NETC.CO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+32.1%

DKK 473.03

vs DKK 358.20 price

Levered DCF

DKK 1,077.52

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.03

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	65.21×	35.06×	36.43×	23.98×	60.01×	94.89×	40.08×	61.53×
P/B	4.8×	4.56×	2.89×	4.11×	11.41×	12.59×	7.51×	6.18×
P/S	2.12×	2.52×	1.82×	2.61×	9.52×	10.77×	6.34×	5.44×
EV / EBITDA	22.08×	17.61×	15.21×	14.84×	39.95×	49.01×	24.35×	23.19×
Gross margin	23.6%	29.1%	28.0%	32.0%	36.7%	40.7%	40.6%	39.8%
Operating margin	11.6%	12.0%	9.5%	15.1%	19.4%	22.7%	20.8%	17.7%
Net margin	3.3%	7.2%	5.0%	10.9%	15.9%	11.3%	15.8%	8.8%
Current ratio	0.99×	1.5×	1.68×	1.87×	2.02×	2.45×	1.91×	2.02×
Debt / equity	1.04×	0.68×	0.68×	0.62×	0.86×	0.35×	0.51×	0.66×
Interest coverage	7.84×	4.94×	4.36×	12.81×	22.89×	27.88×	23.13×	9.08×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.1%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	8.5%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.4%	13.0%	7.9%	17.1%	19.0%	13.3%	18.8%	10.0%
Return on invested capital	8.5%	9.6%	6.2%	11.5%	9.4%	13.1%	12.3%	8.4%
Return on assets	2.6%	5.8%	3.7%	8.4%	8.2%	8.0%	10.4%	5.2%
Free cash flow yield	2.9%	5.0%	5.0%	4.2%	1.2%	1.8%	2.8%	1.5%
Earnings yield	1.5%	2.9%	2.7%	4.2%	1.7%	1.1%	2.5%	1.6%
Enterprise value	DKK 20.1B	DKK 18.7B	DKK 13.2B	DKK 16.3B	DKK 36.7B	DKK 31.1B	DKK 16.5B	DKK 12.2B
Net debt / EBITDA	3.68×	2.09×	2.49×	1.68×	2.33×	0.78×	1.37×	2.05×
Cash conversion cycle (days)	117	128	123	128	154	2	-11	38