Netcompany Group A/S (NETC) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Netcompany Group A/S stock DKK 320, price DKK 365, that is 12.3% below the price, quality 61 out of 100. Rating: overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range kr 201.40 – kr 855.50 · fair‑value band kr 185.85 – kr 401.93 · the kr 365.00 price screens above the kr 320.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Netcompany Group A/S, engages in the provision of IT solutions to private and public customers in Denmark, Norway, the United Kingdom, the Netherlands, Greece, Belgium, Luxembourg, and internationally.
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The company offers various platforms, such as PULSE, a real-time data engine platform that connects and organizes information across complex ecosystems like utilities and transport; AMPLIO, a modular platform for regulated case management and process automation in complex organizations; AMI, a secure communication platform that connects governments, businesses, and citizens for unified digital correspondence; and EASLEY, an secure, model-independent AI platform that increases productivity.
It offers SOLON TAX, a commercial product that modernizes revenue management and taxpayer operations for multiple tax types; ERMIS, a comprehensive customs management product; PERSEUS, a specialized product automating social security and pension administration; and DX4B, a cloud-native, modular digital banking product delivering web, mobile, and open banking services for financial institutions.
In addition, the company offers Festina Advisor, an AI-powered financial planning tool pro viding detailed advice and simulations; Festina Finance Life and Pension, a cloud-native administration product for managing all policy types; and AIRHART, a modular airport management platform.
The company was founded in 2000 and is headquartered in Copenhagen, Denmark.
Stock analysis
Netcompany Group A/S (NETC) currently trades at kr 365.00, while our model-based Fair Value estimate is kr 320.01, 12% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 407.00 per share, and 7 of the 22 models we run sit above the kr 365.00 price.
Bear case: the Earnings-Based group reads lowest at kr 155.85, and 15 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 185.85 (bear) to kr 401.93 (bull), the price of kr 365.00 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Netcompany Group A/S reported revenue of 7.9B DKK in FY2025 versus 3.6B DKK in FY2021, a compound +21.4%/yr. Reported net income was 257M DKK in FY2025, compounding −18.3%/yr from FY2021.
Key figures
Market cap 16.6B DKK (≈ $2.5B) Mid · P/E ratio 24.9 · P/S ratio 1.76 · EPS (TTM) kr 14.64 · Net margin 7.0% · Return on equity 18.9% · Return on assets (EBIT) 9.6% (5-year average) · Operating margin 13.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 26% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 33% fair-value upside, at −12%, NETC screens richer than that median.
Fair Value models
Bearkr 185.85Fair Value kr 320.01Bullkr 401.93
Price kr 365.00 · Downside -12.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 12.71 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+20.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.7%
Start year 2020 (pandemic). Over 10 years: +26.4% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+8.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.2% vs 8.4%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 12%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about +17.4% a year for the price and +7.9% for the forecasts.
AI conclusion: Netcompany shows strength in consistent share repurchases and AI tools that accelerate legacy modernisation for public sector clients, yet its main weak point is the thin evidence of any durable competitive advantage.
Main risk: Clients shifting implementation in-house or to direct vendors as AI capabilities mature threatens demand for traditional IT services and compresses margins.
Netcompany keeps executing its share buyback programme, adding more shares each week to adjust capital structure and cover incentive programmes. At the same time it highlights AI tools that speed up legacy modernisation for public sector clients. Will these repurchases mainly reduce share count or free up resources to accelerate the shift toward higher-margin AI work?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Information Technology Services · 517 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−12.3% · Below median
Profitability
Return on equity (12 months)18.9% · Top 25%
Return on assets2.6% · Below median
Net margin (12 months)7.0% · Above median
Operating margin (12 months)13.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)8.1% · Above median
Balance sheet
Debt / equity0.45× · Highest 25%
Valuation Multiplesvs Information Technology Services median · lower = cheaper
P/E (12 months)24.9× · Pricier than median
P/B4.77× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Netcompany Group A/S Fair Value". https://www.fairvalue-calculator.com/stock/NETC
Frequently asked questions
Is Netcompany Group A/S (NETC) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of kr 320.01 versus a price of kr 365.00, about 12% lower (overvalued).
What is the fair value of NETC?
Our model-based fair value for Netcompany Group A/S is kr 320.01 (as of Nov 8, 2026), built from audited fundamentals. The current price: kr 365.00.
What is the quality score of NETC?
Netcompany Group A/S has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Netcompany Group A/S (NETC)?
Our model-based price target is the fair value of kr 320.01 (as of Nov 8, 2026) from 22 valuation models. Cautious scenario kr 185.85, optimistic scenario kr 401.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Netcompany Group A/S stock forecast for 2026?
Our models put fair value at kr 320.01, about 12% lower versus a price of kr 365.00 (overvalued). Cautious scenario kr 185.85, optimistic scenario kr 401.93. The calculation is refreshed regularly with new filings.
What is the revenue of Netcompany Group A/S (NETC)?
Netcompany Group A/S reported trailing-twelve-month revenue of about 9.5B DKK (latest available figure, as of Nov 8, 2026).
What growth is priced into Netcompany Group A/S (NETC)?
For today's price to be fair in a discounted-cash-flow model, Netcompany Group A/S would have to grow free cash flow by +19.8 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.7 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of NETC use?
Our models discount Netcompany Group A/S at 8.8 %: a base by market capitalisation (mid), damped by beta 0.72, country premium for Denmark. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Netcompany Group A/S that is +19.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Netcompany Group A/S (NETC) delivered so far?
Over the past 5 years revenue at Netcompany Group A/S grew +22.7 % a year. The price currently implies free-cash-flow growth of +19.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Netcompany Group A/S (NETC) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Netcompany Group A/S (+19.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Netcompany Group A/S (NETC)?
The free-cash-flow yield on the price is 2.87 %: that much free cash flow Netcompany Group A/S produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Netcompany Group A/S (NETC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Netcompany Group A/S it is kr 320.01 per share (as of Nov 8, 2026), against a price of kr 365.00. It is the blended result of 22 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Netcompany Group A/S stock overvalued or undervalued in 2026?
As of Nov 8, 2026, NETC trades above its calculated fair value: price kr 365.00, fair value kr 320.01, a gap of about −12% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NETC?
No. The price is what the market pays today (kr 365.00); the fair value is what the company's own numbers justify (kr 320.01). For Netcompany Group A/S the two are kr 44.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Netcompany Group A/S worth?
The market values Netcompany Group A/S at about 16.6B DKK (market capitalisation, as of Nov 8, 2026). Per share that is kr 365.00; our models calculate a fair value of kr 320.01 per share.
What do the bullish and bearish scenarios say about NETC?
Our models span a range for Netcompany Group A/S: cautious scenario kr 185.85, base kr 320.01, optimistic kr 401.93 per share (as of Nov 8, 2026, price kr 365.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NETC?
Netcompany Group A/S trades at a price-to-earnings ratio of 24.9 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 320.01 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 34.6 (reported for FY2025: 66.4). Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings, FY2025 ex one-offs: 38.6. Other multiples: P/B 4.8, P/S 1.8, EV/EBITDA 13.8.
How solid is the balance sheet of Netcompany Group A/S (NETC)?
Balance-sheet figures for Netcompany Group A/S (as of Nov 8, 2026): return on equity 18.9%, debt of 0.45 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is NETC from its 52-week high?
Netcompany Group A/S trades at kr 365.00, about 10% below its 52-week high of kr 403.40 and 26% above the low of kr 289.60 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of kr 320.01 is for.
Which stocks are comparable to Netcompany Group A/S?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Netcompany Group A/S stock attractive at the current price?
The data as of Nov 8, 2026: price kr 365.00, calculated fair value kr 320.01 (−12%), Quality Score 61/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NETC calculated?
We run Netcompany Group A/S through 22 models from 6 families: DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 320.01 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Netcompany Group A/S itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Netcompany Group A/S (NETC)?
The closing price on Nov 12, 2026 was kr 365.00. Our model-based fair value is kr 320.01, about 12% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Netcompany Group A/S right now?
Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 185.85 to kr 401.93) leaves room in how you read the outcome.
Where does the earnings growth of Netcompany Group A/S (NETC) come from?
Earnings per share at Netcompany Group A/S grew +13.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +28.5 %, EBIT margin −7.1 %, tax rate −1.4 %, residual (interest, one-offs) −3.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Netcompany Group A/S
How large is the market capitalisation of Netcompany Group A/S (NETC)?
The market capitalisation of Netcompany Group A/S is 16.6B DKK (≈ $2.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Netcompany Group A/S (NETC)?
The price-to-sales ratio of Netcompany Group A/S is 1.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Netcompany Group A/S (NETC)?
Earnings per share at Netcompany Group A/S are kr 14.64 (price ÷ EPS = P/E 24.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Netcompany Group A/S (NETC)?
The net margin of Netcompany Group A/S is 7.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Netcompany Group A/S (NETC)?
The return on equity (ROE) of Netcompany Group A/S is 18.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Netcompany Group A/S (NETC)?
On an EBIT basis the return on assets of Netcompany Group A/S is 9.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Netcompany Group A/S (NETC)?
The operating margin of Netcompany Group A/S is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Netcompany Group A/S (NETC)?
Revenue at Netcompany Group A/S is growing +8.1% versus a year earlier (3y avg +12.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Netcompany Group A/S (NETC)?
Earnings per share at Netcompany Group A/S are growing +268% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Netcompany Group A/S (NETC) carry?
The net debt of Netcompany Group A/S is 4.1B DKK (fiscal year 2025, ≈ 8.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 8, 2026