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NamSys Inc (CTZ) Fair Value & Analysis

Technology · CA · Market cap C$30.3M

NI NamSys Inc CTZ · V
PriceC$1.20
Fair ValueC$2.17
Upside+80.8%
Quality74/100
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Healthy Growth
Highly profitable · 30.2% net margin
generates free cash flow
Ranks above peers (10/13)
Wide moat 89/100
Evidence: High Range C$1.23 – C$2.73 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from C$1.59 to C$2.17 (+36.5%) since Jul 15, 2026. Share price +3.4% over the past month.

A solid business, screening 81% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (C$1.23). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (C$1.23 to C$2.73) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

C$1.48 C$0.4756 Fair Value C$2.17 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range C$0.4756 – C$1.48 · fair‑value band C$1.23 – C$2.73 · the C$1.20 price screens below the C$2.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

NamSys Inc (CTZ) currently trades at C$1.20, while our model-based Fair Value estimate is C$2.17, implying the stock looks roughly 80.8% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, NamSys Inc generated revenue of C$8.1M at a net margin of 30.2%. Revenue grew 9.9% year over year. It earns a return on equity of 24.1%. The balance sheet holds a net cash position of C$1.1M. Fundamentals as of Aug 13, 2026

Our scenario range runs from C$1.23 (bear case) to C$2.73 (bull case); at C$1.20, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at 81%, CTZ screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income C$0.4700 C$0.6400 C$2.09 76
Growth DCF C$0.7700 C$1.16 C$1.67 72
Growth-Adj P/E C$1.45 C$2.07 C$2.69 68
All 24 models by family
DCF Models
FCF DCF C$0.7900 C$1.23 C$1.87 38
Owner Earnings C$0.8900 C$1.40 C$2.12 31
5Y Revenue Exit C$0.9300 C$1.61 C$2.53 39
5Y EBITDA Exit C$1.20 C$2.17 C$3.38 41
5Y P/E Exit C$1.38 C$2.53 C$3.85 38
10Y Revenue Exit C$0.8300 C$1.39 C$2.24 36
10Y EBITDA Exit C$1.01 C$1.74 C$2.85 37
10Y P/E Exit C$1.11 C$1.97 C$3.19 35
Earnings-Based
Graham-Dodd C$0.6300 C$2.90 C$3.98 54
Lynch FV C$0.7600 C$1.09 C$1.42 50
PEG = 1.0 C$0.7600 C$1.09 C$1.42 46
EPV C$0.7000 C$0.7800 C$0.8500 59
Multiples
P/E Multiple C$1.94 C$2.59 C$3.24 63
P/S Multiple C$1.18 C$1.57 C$1.97 58
P/B Multiple C$1.18 C$1.57 C$1.97 55
EV/EBIT C$2.18 C$2.89 C$3.60 53
EV/EBITDA C$1.64 C$2.18 C$2.72 54
EV/Revenue C$1.06 C$1.50 C$1.94 43
Asset-Based
NCAV (Graham) C$0.2000 C$0.2700 C$0.4000 50
Growth DCF
Growth DCF C$0.7700 C$1.16 C$1.67 72
Rev-Margin DCF C$0.9300 C$1.59 C$2.44 67
Economic Profit
Residual Income C$0.4700 C$0.6400 C$2.09 76
ROIC Compounder C$0.7600 C$0.9300 C$1.13 67
Growth Earnings
Growth-Adj P/E C$1.45 C$2.07 C$2.69 68

Widest divergence: Growth Earnings (C$2.07) versus Asset-Based (C$0.2700). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) C$8.1M
Revenue growth (YoY) +9.9%
Net margin 30.2%
Return on equity 24.1%
Free cash flow C$2.2M FY2025
P/E ratio 15.0
More key figures
Operating margin 44.1%
EPS (TTM) C$0.0800
EPS growth (YoY) -23.5%
Net cash C$1.1M FY2023

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 72 · Market factors (momentum, volatility) 50

Profitability 81
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

NamSys Inc. provides software solutions for currency management and processing for the banking and merchant industries in North America.

Full company description

NamSys Inc. provides software solutions for currency management and processing for the banking and merchant industries in North America. It offers Cirreon Smart Safe, an open cloud-based digital platform for managing networks of smart safes; Cash in Transit Logistics that manages routes, scans barcodes, and captures signatures digitally; and Cash Vault Management for use in credit reconciliation, cash inventory optimization, and store-to-vault customer integration. The company also provides Deposit Tracking for tracking digital deposit data and transmits real-time updates; and Online Change Orders for submitting online change orders and digital change order data tracking. It serves financial institutions, cash-in-transit industry, and smart safe industry. The company was formerly known as Cencotech Inc. and changed its name to NamSys Inc. in November 2016. NamSys Inc. was founded in 1989 and is based in Toronto, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NamSys Inc reported revenue of C$7.9M in FY2025 versus C$5.0M in FY2021, a compound +12.2%/yr. Reported net income was C$2.5M in FY2025, compounding +18.4%/yr from FY2021.

Growth Quality 92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$7.9M
Latest YoY
+15.4%
Avg. growth/yr (3Y) 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.
+13.5%
Avg. growth/yr (5Y) 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.
+10.7%
Avg. growth/yr (27Y) 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.
+7.6%
Revenue +12.2%/yr
FY21 C$5.0M
FY22 C$5.4M
FY23 C$6.1M
FY24 C$6.8M
FY25 C$7.9M
Net income +18.4%/yr
FY21 C$1.3M
FY22 C$1.4M
FY23 C$1.6M
FY24 C$2.1M
FY25 C$2.5M

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Cite: Fair Value Calculator (2026). "NamSys Inc Fair Value". https://www.fairvalue-calculator.com/stock/CTZ

Peer Group

Software - Application · 714 stocks

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.

Quality Score 74 · Top 25%
Fair Value upside +81% · Top 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 18% · Top 25%
Net margin (TTM) 30% · Top 25%
Operating margin (TTM) 44% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 15.0× · Cheaper than 75% of peers
P/B 2.03× · Cheaper than median
P/S (TTM) 2.71× · Pricier than median
P/FCF 10.0× · Pricier than median
EV/EBITDA 6.4× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 1
FUTURE 50 · sector 38
PAST 96 · sector 13
HEALTH 0 · sector 98
DIVIDEND 0 · sector 27

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is NamSys Inc (CTZ) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$2.17 versus a price of C$1.20, about +81% (undervalued).
What is the fair value of CTZ?
Our model-based fair value for NamSys Inc is C$2.17 (as of Aug 13, 2026), built from audited fundamentals. The current price is C$1.20.
What is the quality score of CTZ?
NamSys Inc has a Quality Score of 74/100. 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 revenue of NamSys Inc (CTZ)?
NamSys Inc reported trailing-twelve-month revenue of about C$8.1M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CTZ?
The net profit margin of NamSys Inc is about 30.2%, meaning it keeps roughly 30.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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