(NETC) Netcompany - CO
Sector: Technology | Industry: Information Technology Services | Exchange: CO (Denmark) | Market Cap: 14.745m DKK | Total Return: 3.8% in 12m
Avg Turnover: 41.2M
EPS Trend: -33.0%
Qual. Beats: 0
Rev. Trend: 93.2%
Qual. Beats: 1
Warnings
Below Avwap Earnings
Tailwinds
Idiosyncratic Leader
Netcompany Group A/S is a Denmark-based IT services provider specializing in digital transformation for public and private sector clients across Northern Europe and the UK. The company operates on a modular platform model, deploying proprietary frameworks like PULSE and AMPLIO to automate case management, real-time data processing, and secure government-to-citizen communications.
The business model focuses on end-to-end IT consulting and the implementation of vertical-specific software solutions for complex regulatory environments, including tax administration (SOLON TAX), customs (ERMIS), and airport management (AIRHART). This approach leverages high switching costs and long-term service contracts common in the public sector IT services industry.
Netcompany has expanded its portfolio into AI-driven productivity tools and cloud-native financial platforms, such as DX4B for digital banking and Festina Finance for pension administration. The IT Consulting & Other Services sub-industry is characterized by a shift toward cloud-agnostic architectures, allowing firms to integrate AI capabilities into legacy infrastructure without vendor lock-in.
- Public sector contract wins drive core Danish revenue growth
- InteliHealth and AI platform adoption expands private sector margins
- UK and Netherlands international segment scaling improves geographic diversification
- Wage inflation and talent retention costs pressure operating profitability margins
| Net Income: 278.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -10.15 > 1.0 |
| NWC/Revenue: -0.63% < 20% (prev 16.80%; Δ -17.43% < -1%) |
| CFO/TA 0.02 > 3% & CFO 241.2m > Net Income 278.8m |
| Net Debt (4.73b) to EBITDA (975.0m): 4.85 < 3 |
| Current Ratio: 0.99 > 1.5 & < 3 |
| Outstanding Shares: last quarter (46.2m) vs 12m ago -2.94% < -2% |
| Gross Margin: 21.45% > 18% (prev 28.60%; Δ -7.16% > 0.5%) |
| Asset Turnover: 92.99% > 50% (prev 81.54%; Δ 11.44% > 0%) |
| Interest Coverage Ratio: 3.56 > 6 (EBIT TTM 598.3m / Interest Expense TTM 168.1m) |
| A: -0.01 (Total Current Assets 4.09b - Total Current Liabilities 4.14b) / Total Assets 10.2b |
| B: 0.39 (Retained Earnings 3.94b / Total Assets 10.2b) |
| C: 0.06 (EBIT TTM 598.3m / Avg Total Assets 9.21b) |
| D: 0.50 (Book Value of Equity 3.40b / Total Liabilities 6.81b) |
| Altman-Z'' = 2.19 = BBB |
| DSRI: 1.02 (Receivables 3.79b/2.92b, Revenue 8.56b/6.69b) |
| GMI: 1.33 (GM 28.60% / 21.45%) |
| AQI: 1.01 (AQ_t 0.50 / AQ_t-1 0.49) |
| SGI: 1.28 (Revenue 8.56b / 6.69b) |
| TATA: 0.00 (NI 278.8m - CFO 241.2m) / TA 10.2b) |
| Beneish M = -2.50 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at DKK 304.40 with a total of 401,982 shares traded.
Over the past week, the price has changed by -6.56%,
over one month by -11.09%,
over three months by -6.62% and
over the past year by +3.82%.
Netcompany has no consensus analysts rating.
P/E Trailing = 55.0419
P/E Forward = 62.5
P/S = 1.7223
P/B = 4.3235
Revenue TTM = 8.56b DKK
EBIT TTM = 598.3m DKK
EBITDA TTM = 975.0m DKK
Long Term Debt = 1.58b DKK (from longTermDebt, last quarter)
Short Term Debt = 1.53b DKK (from shortTermDebt, last quarter)
Debt = 5.02b DKK (from shortLongTermDebtTotal, last quarter) + Leases 1.04b
Net Debt = 4.73b DKK (calculated: Debt 5.02b - CCE 287.5m)
Enterprise Value = 19.5b DKK (14.7b + Debt 5.02b - CCE 287.5m)
Interest Coverage Ratio = 3.56 (Ebit TTM 598.3m / Interest Expense TTM 168.1m)
EV/FCF = 252.9x (Enterprise Value 19.5b / FCF TTM 77.0m)
FCF Yield = 0.40% (FCF TTM 77.0m / Enterprise Value 19.5b)
FCF Margin = 0.90% (FCF TTM 77.0m / Revenue TTM 8.56b)
Net Margin = 3.26% (Net Income TTM 278.8m / Revenue TTM 8.56b)
Gross Margin = 21.45% ((Revenue TTM 8.56b - Cost of Revenue TTM 6.73b) / Revenue TTM)
Gross Margin QoQ = 20.20% (prev 18.24%)
Tobins Q-Ratio = 1.91 (Enterprise Value 19.5b / Total Assets 10.2b)
Interest Expense / Debt = 3.35% (Interest Expense 168.1m / Debt 5.02b)
Taxrate = 31.14% (126.1m / 404.9m)
NOPAT = 412.0m (EBIT 598.3m * (1 - 31.14%))
Current Ratio = 0.99 (Total Current Assets 4.09b / Total Current Liabilities 4.14b)
Debt / Equity = 1.47 (Debt 5.02b / totalStockholderEquity, last quarter 3.40b)
Debt / EBITDA = 4.85 (Net Debt 4.73b / EBITDA 975.0m)
Debt / FCF = 61.40 (Net Debt 4.73b / FCF TTM 77.0m)
Total Stockholder Equity = 3.55b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.03% (Net Income 278.8m / Total Assets 10.2b)
RoE = 7.86% (Net Income TTM 278.8m / Total Stockholder Equity 3.55b)
RoCE = 11.67% (EBIT 598.3m / Capital Employed (Equity 3.55b + L.T.Debt 1.58b))
RoIC = 5.63% (NOPAT 412.0m / Invested Capital 7.31b)
WACC = 5.58% (E(14.7b)/V(19.8b) * Re(6.69%) + D(5.02b)/V(19.8b) * Rd(3.35%) * (1-Tc(0.31)))
Discount Rate = 6.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.11 | Cagr: -3.28%
[DCF] Terminal Value 73.10% ; FCFF base≈403.7m ; Y1≈354.0m ; Y5≈286.0m
[DCF] Fair Price = N/A (negative equity: EV 4.59b - Net Debt 4.73b = -136.6m; debt exceeds intrinsic value)
EPS Correlation: -33.01 | EPS CAGR: -8.95% | SUE: -0.45 | # QB: 0
Revenue Correlation: 93.24 | Revenue CAGR: 12.62% | SUE: 2.57 | # QB: 1
EPS current Quarter (2026-06-30): EPS=3.28 | Chg30d=-13.45% | Revisions=-43% | Analysts=3
EPS next Quarter (2026-09-30): EPS=5.24 | Chg30d=-2.76% | Revisions=-14% | Analysts=3
EPS current Year (2026-12-31): EPS=19.45 | Chg30d=-0.55% | Revisions=-27% | GrowthEPS=+84.4% | GrowthRev=+19.9%
EPS next Year (2027-12-31): EPS=24.78 | Chg30d=-1.77% | Revisions=-9% | GrowthEPS=+27.4% | GrowthRev=+7.9%
[Analyst] Revisions Ratio: -43%