NNIT A/S (NNIT.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

+793.6%

DKK 367.71

vs DKK 41.15 price

Levered DCF

-DKK 140.95

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.66

Grey zone

Rating

Overall 2 / 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	-51.88×	2,301×	69.34×	-8.08×	-57.98×	39.48×	15×	19.21×
P/B	1.58×	2.65×	2.52×	2×	2.49×	2.65×	2.35×	4.17×
P/S	0.69×	1.24×	1.21×	1.09×	2.08×	1.06×	0.9×	1.5×
EV / EBITDA	27.62×	27.97×	24.87×	-58.02×	56.23×	9.73×	6.43×	8.92×
Gross margin	23.5%	25.9%	25.8%	27.2%	9.3%	13.7%	15.5%	18.0%
Operating margin	5.3%	6.3%	6.7%	-0.5%	-1.1%	4.3%	7.0%	10.2%
Net margin	-1.3%	0.1%	1.7%	-13.5%	-3.6%	2.7%	6.0%	7.8%
Current ratio	1×	1.4×	1.05×	1.05×	1.18×	1.11×	1.33×	0.96×
Debt / equity	0.64×	0.46×	0.4×	1.24×	0.62×	0.5×	0.5×	0.58×
Interest coverage	3.62×	4.33×	2.76×	-0.23×	-0.79×	7.63×	23.89×	31.93×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.9%	3.3%	4.1%	2.3%
Payout ratio	0.0%	0.0%	0.0%	0.0%	-51.0%	128.9%	61.7%	44.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.1%	0.1%	3.6%	-24.8%	-4.3%	6.7%	15.7%	21.7%
Return on invested capital	7.7%	0.6%	3.4%	-0.3%	-0.6%	4.9%	8.9%	14.6%
Return on assets	-1.6%	0.1%	1.5%	-7.3%	-1.8%	2.9%	7.0%	9.3%
Free cash flow yield	-1.9%	-3.3%	-13.0%	-13.9%	5.2%	13.1%	10.9%	6.1%
Earnings yield	-1.9%	0.0%	1.4%	-12.4%	-1.7%	2.5%	6.7%	5.2%
Enterprise value	DKK 1.7B	DKK 2.5B	DKK 2.2B	DKK 2.4B	DKK 3.3B	DKK 3.4B	DKK 3.2B	DKK 5B
Net debt / EBITDA	6.95×	2.67×	0.89×	-19.17×	8.02×	1.2×	0.93×	0.92×
Cash conversion cycle (days)	66	74	77	75	147	67	106	99