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THE NAGA GROUP AG NA O.N. (N4G0) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of THE NAGA GROUP AG NA O.N. €1.29, price €2.62, upside -50.8%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Financial Services · DE · ISIN DE000A41YCM0

TN Thin data Sep 23, 2026

THE NAGA GROUP AG NA O.N.

N4G0 · XETRA

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value €1.29 · Strongly overvalued (−51%)
!Quality 56/100
!Expensive Growth (revenue 5y +20.7 %/yr)
!Loss-making · -10.5% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (4/10)
!Narrow moat 13/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€88.50 €1.36 Fair Value €1.29 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €1.36 – €88.50 · fair‑value band €1.00 – €1.57 · the €2.62 price screens above the €1.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

The NAGA Group AG develops and offers fintech products and services in Latin America, the Middle East, North Africa, and Southeast Asia. It offers platform that provides integrated trading tools for technical and fundamental analysis.

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The NAGA Group AG develops and offers fintech products and services in Latin America, the Middle East, North Africa, and Southeast Asia. It offers platform that provides integrated trading tools for technical and fundamental analysis. It also provides services that enable users to create customized portfolios; manage trading activities; replicate copy trading; and algorithmic strategies using trading bots. The company was incorporated in 2015 and is headquartered in Hamburg, Germany.

Stock analysis

THE NAGA GROUP AG NA O.N. (N4G0) currently trades at €2.62, while our model-based Fair Value estimate is €1.29, implying the stock looks roughly 103.1% overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 92/100, which puts the evidence level at low.

Scenario range: €1.00 (bear) to €1.57 (bull), the price of €2.62 sits above 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 56/100 (solid quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

THE NAGA GROUP AG NA O.N. reported revenue of €62.4M in FY2025 versus €52.9M in FY2021, a compound +4.2%/yr. Reported net income was −€6.6M in FY2025.

Key figures

Market cap €67.3M · P/S ratio 1.08 · EPS (TTM) €−0.2800 · Net margin −10.5% · Return on equity −8.0% · Return on assets (EBIT) −10.5% · Operating margin −7.6% · Revenue (TTM) €62.4M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).

What moves the price

The share trades about 61% below its 52-week high and 93% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at −51%, N4G0 screens richer than that median.

Fair Value models

Bear €1.00 Fair Value €1.29 Bull €1.57
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
Highest evidence
EV/EBITDA €1.20 €1.49 €1.77 67
NCAV (Graham) €1.70 €2.28 €3.41 54
All 2 models by family
Multiples
EV/EBITDA €1.20 €1.49 €1.77 67
Asset-Based
NCAV (Graham) €1.70 €2.28 €3.41 54

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Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 24

Profitability 27
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+16.3%
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.
+2.7%
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.
+20.7%
Start year 2020 (pandemic). Over 10 years: +52.0% a year
Revenue growth 10 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.
+52.0%
Profit margin (trend) ⓘ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.
5.5% (2020) → −5.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

N4G0 screens 103% overvalued. Compare with Morgan Stanley, a financial holding company, →

Compare THE NAGA GROUP AG NA O.N. with another stock

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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.Capital Markets · 460 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 55 · Above median
Fair Value upside −51% · Bottom 25%
Profitability
Return on assets −2% · Bottom 25%
Net margin (TTM) −11% · Bottom 25%
Operating margin (TTM) −8% · Bottom 25%
Growth and dividend
Revenue growth −8% · Bottom 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 0.96× · Cheaper than median
P/S (TTM) 1.23× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 27
FUTURE (revenue growth)0 · sector 85
PAST (return on equity)0 · sector 30
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 41

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $196.32 $314.07 +60%
The Goldman Sachs Group GS $923.29 $766.86 −17%
The Charles Schwab Corporation SCHW $99.50 $117.26 +18%
Interactive Brokers Group IBKR $91.88 $23.37 −75%
Robinhood Markets, Inc HOOD $122.70 $47.73 −61%
Macquarie Group MQG A$242.55 A$80.51 −67%
CITIC Securities Company 600030 ¥26.79 ¥18.35 −32%
Guotai Haitong Securities Co 601211 ¥17.67 ¥19.29 +9%
East Money Information Co 300059 ¥18.77 ¥4.94 −74%
CSC Financial Co 601066 ¥23.67 ¥39.83 +68%

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THE NAGA GROUP AG NA O.N. · Fair Value
€1.29 −103%Fair Value
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Cite: Fair Value Calculator (2026). "THE NAGA GROUP AG NA O.N. Fair Value". https://www.fairvalue-calculator.com/stock/N4G0

Frequently asked questions

Is THE NAGA GROUP AG NA O.N. (N4G0) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.29 versus a price of €2.62, about −51% upside (overvalued).
What is the fair value of N4G0?
Our model-based fair value for THE NAGA GROUP AG NA O.N. is €1.29 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.62.
What is the quality score of N4G0?
THE NAGA GROUP AG NA O.N. has a Quality Score of 56/100. 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 THE NAGA GROUP AG NA O.N. (N4G0)?
Our model-based price target is the fair value of €1.29 (as of Sep 23, 2026) from 2 valuation models. Cautious scenario €1.00, optimistic scenario €1.57. It is a calculation from audited fundamentals, not an analyst target.
What is the THE NAGA GROUP AG NA O.N. stock forecast for 2026?
Our models put fair value at €1.29, about −51% upside versus a price of €2.62 (overvalued). Cautious scenario €1.00, optimistic scenario €1.57. The calculation is refreshed regularly with new filings.
What is the revenue of THE NAGA GROUP AG NA O.N. (N4G0)?
THE NAGA GROUP AG NA O.N. reported trailing-twelve-month revenue of about €62.4M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of THE NAGA GROUP AG NA O.N. (N4G0)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For THE NAGA GROUP AG NA O.N. it is €1.29 per share (as of Sep 23, 2026), against a price of €2.62. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is THE NAGA GROUP AG NA O.N. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, N4G0 trades above its calculated fair value: price €2.62, fair value €1.29, a gap of about −51% (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 N4G0?
No. The price is what the market pays today (€2.62); the fair value is what the company's own numbers justify (€1.29). For THE NAGA GROUP AG NA O.N. the two are €1.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is THE NAGA GROUP AG NA O.N. worth?
The market values THE NAGA GROUP AG NA O.N. at about €67.3M (market capitalisation, as of Sep 23, 2026). Per share that is €2.62; our models calculate a fair value of €1.29 per share.
What do the bullish and bearish scenarios say about N4G0?
Our models span a range for THE NAGA GROUP AG NA O.N.: cautious scenario €1.00, base €1.29, optimistic €1.57 per share (as of Sep 23, 2026, price €2.62). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of THE NAGA GROUP AG NA O.N. (N4G0)?
Balance-sheet figures for THE NAGA GROUP AG NA O.N. (as of Sep 23, 2026): return on equity −8.0%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is N4G0 from its 52-week high?
THE NAGA GROUP AG NA O.N. trades at €2.62, about 61% below its 52-week high of €6.70 and 93% above the low of €1.36 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.29 is for.
Which stocks are comparable to THE NAGA GROUP AG NA O.N.?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 THE NAGA GROUP AG NA O.N. stock attractive at the current price?
The data as of Sep 23, 2026: price €2.62, calculated fair value €1.29 (−51%), Quality Score 56/100, from 2 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 N4G0 calculated?
We run THE NAGA GROUP AG NA O.N. through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €1.29, 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 13.0 % above its aggregate fair value. THE NAGA GROUP AG NA O.N. 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 THE NAGA GROUP AG NA O.N. (N4G0)?
The closing price on Sep 24, 2026 was €2.62. Our model-based fair value is €1.29, about −51% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with THE NAGA GROUP AG NA O.N. right now?
The price sits above even our optimistic bull case (€1.57). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of THE NAGA GROUP AG NA O.N.

How large is the market capitalisation of THE NAGA GROUP AG NA O.N. (N4G0)?
The market capitalisation of THE NAGA GROUP AG NA O.N. is €67.3M. 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 THE NAGA GROUP AG NA O.N. (N4G0)?
The price-to-sales ratio of THE NAGA GROUP AG NA O.N. is 1.08 (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 THE NAGA GROUP AG NA O.N. (N4G0)?
Earnings per share at THE NAGA GROUP AG NA O.N. are €−0.2800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of THE NAGA GROUP AG NA O.N. (N4G0)?
The net margin of THE NAGA GROUP AG NA O.N. is −10.5% (fiscal year 2025). 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 THE NAGA GROUP AG NA O.N. (N4G0)?
The return on equity (ROE) of THE NAGA GROUP AG NA O.N. is −8.0% (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 THE NAGA GROUP AG NA O.N. (N4G0)?
On an EBIT basis the return on assets of THE NAGA GROUP AG NA O.N. is −10.5% (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 THE NAGA GROUP AG NA O.N. (N4G0)?
The operating margin of THE NAGA GROUP AG NA O.N. is −7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at THE NAGA GROUP AG NA O.N. (N4G0)?
Revenue at THE NAGA GROUP AG NA O.N. is growing −8.1% versus a year earlier (3y avg +2.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does THE NAGA GROUP AG NA O.N. (N4G0) generate?
The free cash flow of THE NAGA GROUP AG NA O.N. is −€5.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does THE NAGA GROUP AG NA O.N. (N4G0) hold?
THE NAGA GROUP AG NA O.N. holds more cash than debt, €3.3M net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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