NetSol Technologies, Inc. (NTWK) 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

-73.0%

$2.16

vs $8.00 price

Levered DCF

$6.39

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.06

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.48×	12.44×	44.26×	-5.13×	-42.07×	31.4×	33.79×	5.58×
P/B	1.31×	0.95×	0.87×	0.79×	0.79×	0.99×	0.54×	1.16×
P/S	0.73×	0.54×	0.49×	0.51×	0.63×	0.99×	0.56×	0.99×
EV / EBITDA	4.49×	3.31×	3.09×	22.99×	3.49×	4.44×	4.06×	3.22×
Gross margin	52.6%	49.3%	47.7%	32.3%	41.5%	48.0%	47.8%	50.8%
Operating margin	9.3%	5.3%	5.7%	-16.8%	-1.9%	5.0%	1.9%	10.1%
Net margin	4.0%	4.4%	1.1%	-10.0%	-1.5%	3.2%	1.7%	17.7%
Current ratio	2.06×	2.35×	1.99×	2×	2.37×	2.37×	2.58×	2.67×
Debt / equity	0.22×	0.24×	0.22×	0.21×	0.22×	0.25×	0.25×	0.13×
Interest coverage	11.47×	4.02×	3.06×	-11.48×	-2.92×	6.9×	3.09×	21.9×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.1%	7.7%	2.0%	-15.5%	-1.9%	3.3%	1.6%	20.7%
Return on invested capital	11.8%	5.1%	4.8%	-20.0%	-0.9%	2.5%	0.7%	8.4%
Return on assets	3.8%	4.7%	1.1%	-9.0%	-1.2%	2.1%	1.1%	13.7%
Free cash flow yield	21.8%	-2.6%	7.9%	1.4%	1.3%	24.3%	8.2%	3.3%
Earnings yield	5.4%	8.1%	2.3%	-19.7%	-2.4%	3.3%	3.0%	17.9%
Enterprise value	$36.7M	$27.8M	$18.8M	$18.2M	$21.9M	$33.9M	$26.1M	$57.4M
Net debt / EBITDA	-2.18×	-0.98×	-1.88×	-10.64×	-2.22×	-2.65×	-0.88×	-0.56×
Cash conversion cycle (days)	122	134	130	174	156	113	198	196