Napatech A/S (NAPA) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Napatech A/S NOK 18.50, price NOK 42.20, upside -56.2%, quality 33 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 7.90 – kr 58.50 · fair‑value band kr 12.22 – kr 23.16 · the kr 42.20 price screens above the kr 18.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Napatech A/S provides programmable smart network interface cards and data processing units solutions for cloud, enterprise, and telecom datacenter networks in the Americas and internationally.
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Napatech A/S provides programmable smart network interface cards and data processing units solutions for cloud, enterprise, and telecom datacenter networks in the Americas and internationally. The company provides Link Capture Software that enables packet capture with nanosecond timestamping and replay with precise inter-frame gap control; Link Inline Software provides a processing architecture which offloads and accelerates flow aware application dataplanes; Link-Virtualization Software, offloads and accelerates the Open vSwitch data plane to enhance CPU efficiency and network performance; Link-Storage Software, a solution for storage and network offload, virtualized cloud, and cloud-native or bare-metal server virtualization; Link-Security Software, offloads the TLS protocol from the host CPU to an DPU while maintaining full software compatibility at the application level; and Link Programmable, which enables end users and OEMs to deploy FPGA computation solutions. It also provides capture products, including NT400D13, NT400D11, NT200A02, NT100A01, NT50B01, NT40A11, and N3070X SmartNIC; inline products, such as NT200A02 SmartNIC; and storage, security products, including F2070X DPU. In addition, the company offers solutions for 5G user plane function, cyber security, telecom, cloud and data centers, financial services, infrastructure and defense, network management, and virtualization. Napatech A/S was incorporated in 2003 and is headquartered in Copenhagen, Denmark.
Stock analysis
Napatech A/S (NAPA) currently trades at kr 42.20, while our model-based Fair Value estimate is kr 18.50, implying the stock looks roughly 128.2% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: kr 12.22 (bear) to kr 23.16 (bull), the price of kr 42.20 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 33/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Napatech A/S reported revenue of 147M DKK in FY2025 versus 195M DKK in FY2021, a compound −6.9%/yr. Reported net income was −80.7M DKK in FY2025.
Key figures
Market cap 4.6B NOK (≈ $489M) · P/S ratio 27.6 · EPS (TTM) kr −0.8900 · Net margin −55.0% · Return on equity −42.7% · Return on assets (EBIT) −20.7% · Operating margin −58.6% · Revenue (TTM) 159M NOK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 115% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −56%, NAPA screens cheaper than that median.
Fair Value models
Bear kr 12.22Fair Value kr 18.50Bull kr 23.16
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.
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.6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+25.9%
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.
−2.6%
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.
−5.5%
Start year 2020 (pandemic). Over 10 years: −3.8% a year
Revenue growth 14 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.
+0.6%
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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.
6.0% (2020) → −55.1% (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
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.Communication Equipment · 308 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−56% · Below median
Profitability
Return on assets−19% · Bottom 25%
Net margin (TTM)−41% · Bottom 25%
Operating margin (TTM)−59% · Bottom 25%
Growth and dividend
Revenue growth53% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Communication Equipment median · lower = cheaper
P/B2.39× · Pricier than median
P/S (TTM)3.07× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 41
PAST (return on equity)0· sector 15
HEALTH (low debt)99· sector 98
DIVIDEND (yield)0· sector 22
VALUE 0: the price sits above our fair-value range.
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). "Napatech A/S Fair Value". https://www.fairvalue-calculator.com/stock/NAPA
Frequently asked questions
Is Napatech A/S (NAPA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 18.50 versus a price of kr 42.20, about −56% upside (overvalued).
What is the fair value of NAPA?
Our model-based fair value for Napatech A/S is kr 18.50 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 42.20.
What is the quality score of NAPA?
Napatech A/S has a Quality Score of 33/100. 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 Napatech A/S (NAPA)?
Our model-based price target is the fair value of kr 18.50 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario kr 12.22, optimistic scenario kr 23.16. It is a calculation from audited fundamentals, not an analyst target.
What is the Napatech A/S stock forecast for 2026?
Our models put fair value at kr 18.50, about −56% upside versus a price of kr 42.20 (overvalued). Cautious scenario kr 12.22, optimistic scenario kr 23.16. The calculation is refreshed regularly with new filings.
What is the revenue of Napatech A/S (NAPA)?
Napatech A/S reported trailing-twelve-month revenue of about 159M NOK (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Napatech A/S (NAPA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Napatech A/S it is kr 18.50 per share (as of Sep 24, 2026), against a price of kr 42.20. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Napatech A/S stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NAPA trades above its calculated fair value: price kr 42.20, fair value kr 18.50, a gap of about −56% (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 NAPA?
No. The price is what the market pays today (kr 42.20); the fair value is what the company's own numbers justify (kr 18.50). For Napatech A/S the two are kr 23.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Napatech A/S worth?
The market values Napatech A/S at about 4.6B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 42.20; our models calculate a fair value of kr 18.50 per share.
What do the bullish and bearish scenarios say about NAPA?
Our models span a range for Napatech A/S: cautious scenario kr 12.22, base kr 18.50, optimistic kr 23.16 per share (as of Sep 24, 2026, price kr 42.20). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Napatech A/S (NAPA)?
Balance-sheet figures for Napatech A/S (as of Sep 24, 2026): return on equity −42.7%, debt of 0.02 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is NAPA from its 52-week high?
Napatech A/S trades at kr 42.20, about 30% below its 52-week high of kr 60.00 and 115% above the low of kr 19.64 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 18.50 is for.
Which stocks are comparable to Napatech A/S?
From the same area (Technology) we also value Cisco Systems, Inc, Zhongji Innolight Co, Foxconn Industrial Internet Co, Eoptolink Technology Inc, 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 Napatech A/S stock attractive at the current price?
The data as of Sep 24, 2026: price kr 42.20, calculated fair value kr 18.50 (−56%), Quality Score 33/100, from 1 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 NAPA calculated?
We run Napatech A/S through 1 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 kr 18.50, 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 14.1 % above its aggregate fair value. Napatech 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 Napatech A/S (NAPA)?
The closing price on Sep 22, 2026 was kr 42.20. Our model-based fair value is kr 18.50, about −56% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Napatech A/S right now?
The price sits above even our optimistic bull case (kr 23.16). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (kr 12.22 to kr 23.16) leaves room in how you read the outcome.
Key figures of Napatech A/S
How large is the market capitalisation of Napatech A/S (NAPA)?
The market capitalisation of Napatech A/S is 4.6B NOK (≈ $489M). 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 Napatech A/S (NAPA)?
The price-to-sales ratio of Napatech A/S is 27.6 (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 Napatech A/S (NAPA)?
Earnings per share at Napatech A/S are kr −0.8900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Napatech A/S (NAPA)?
The net margin of Napatech A/S is −55.0% (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 Napatech A/S (NAPA)?
The return on equity (ROE) of Napatech A/S is −42.7% (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 Napatech A/S (NAPA)?
On an EBIT basis the return on assets of Napatech A/S is −20.7% (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 Napatech A/S (NAPA)?
The operating margin of Napatech A/S is −58.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Napatech A/S (NAPA)?
Revenue at Napatech A/S is growing +53.4% versus a year earlier (3y avg −2.6%). 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 Napatech A/S (NAPA)?
Earnings per share at Napatech A/S are growing +286% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Napatech A/S (NAPA) generate?
The free cash flow of Napatech A/S is −42.2M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Napatech A/S (NAPA) carry?
The net debt of Napatech A/S is 1.7M NOK (fiscal year 2023). 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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