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NTG Clarity Networks Inc. (NCI) Fair Value & Analysis

Technology · CA · Market cap C$36.0M (≈ $26.0M) · ISIN CA62940V1040

What is NTG Clarity Networks Inc. really worth?

NC NTG Clarity Networks Inc. NCI · V
PriceC$0.4550
Fair ValueC$3.22
Upside+607.7%
Quality46/100

Below-average quality, trading 86% below our fair value of C$3.22.

As of Aug 27, 2026, the fair value of NTG Clarity Networks Inc. is C$3.22 per share against a price of C$0.4550, so the fair value sits 608% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Ranks above peers (9/12)

Risks

!Expensive Growth (revenue 5y +60.2 %/yr)
!Thin margins · 4.9% net margin
!Low debt · negative free cash flow
!Moderate moat 49/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range C$2.42 – C$4.04

Fair value as of: Aug 27, 2026

From 15 valuation models · updated 10 days ago

Share price −41.7% over the past month.

What runs behind every stock

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 →

What matters now

  • The price is below even our cautious bear case (C$2.42). The market is more pessimistic than our downside scenario.
  • 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 quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

C$2.95 C$0.1500 Fair Value C$3.22 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range C$0.1500 – C$2.95 · fair‑value band C$2.42 – C$4.04 · the C$0.4550 price screens below the C$3.22 fair value. Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

NTG Clarity Networks Inc. (NCI) currently trades at C$0.4550, while our model-based Fair Value estimate is C$3.22, implying the stock looks roughly 85.9% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of C$3.64 per share, and 14 of the 15 models we run sit above the C$0.4550 price. Bear case: the Asset-Based group reads lowest at C$0.3800, and 1 of the 15 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, NTG Clarity Networks Inc. generated revenue of C$84.9M at a net margin of 4.9%. Revenue grew 8.1% year over year. It earns a return on equity of 19.1%. Net debt stands at C$1.2M. Fundamentals as of Aug 27, 2026

Our scenario range runs from C$2.42 (bear case) to C$4.04 (bull case); at C$0.4550, 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. For context, the median of 10 Technology peers we cover trades at −36% fair-value upside, at 608%, NCI screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$0.0546 per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
EPV C$1.41 C$1.57 C$1.70 74
Owner Earnings C$1.47 C$2.83 C$5.20 73
ROIC Compounder C$1.62 C$2.06 C$2.59 72
All 15 models by family
DCF Models
Owner Earnings C$1.47 C$2.83 C$5.20 73
Earnings-Based
Graham-Dodd C$0.7800 C$5.46 C$7.66 63
Lynch FV C$1.64 C$2.34 C$3.04 61
PEG = 1.0 C$1.64 C$2.34 C$3.04 57
EPV C$1.41 C$1.57 C$1.70 74
Multiples
P/E Multiple C$2.42 C$3.22 C$4.03 63
P/S Multiple C$1.47 C$1.96 C$2.45 58
P/B Multiple C$1.47 C$1.96 C$2.45 55
EV/EBIT C$3.83 C$5.08 C$6.33 66
EV/EBITDA C$3.32 C$4.41 C$5.50 67
EV/Revenue C$1.97 C$2.78 C$3.60 54
Asset-Based
NCAV (Graham) C$0.2900 C$0.3800 C$0.5700 54
Economic Profit
Residual Income C$0.5900 C$0.7900 C$2.18 67
ROIC Compounder C$1.62 C$2.06 C$2.59 72
Growth Earnings
Growth-Adj P/E C$2.55 C$3.64 C$4.73 67

Widest divergence: Growth Earnings (C$3.64) versus Asset-Based (C$0.3800). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 5.7
P/S ratio 0.38 P/E × margin
EPS (TTM) C$0.0800 price ÷ EPS = P/E 5.7
Net margin 6.6% FY2025
Return on equity 19.1% TTM
Return on assets (EBIT) 29.4% avg 5y
More key figures
Profitability
Operating margin 1.7% TTM
Growth
Revenue (TTM) C$84.9M TTM
Revenue growth (YoY) +8.1% 3y avg +67.8%
EPS growth (YoY) −72.4%
Balance sheet & cash flow
Free cash flow −C$3.8M FY2025
Net debt C$1.2M FY2024

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 48 · Market factors (momentum, volatility) 11

Profitability 76
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 21
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

NTG Clarity Networks Inc., together with its subsidiaries, provides network, telecom, IT, and infrastructure solutions to medium and large network service providers in Canada, North America, Iraq, Saudi Arabia, Egypt, and Oman.

Full company description

NTG Clarity Networks Inc., together with its subsidiaries, provides network, telecom, IT, and infrastructure solutions to medium and large network service providers in Canada, North America, Iraq, Saudi Arabia, Egypt, and Oman. The company offers utility billing solution, trouble ticket management module, and last mile delivery platform for enterprises; network inventory system, workflow management solution, and telecom in a box, as well as NTGapps, a digital transformation platform; asset management; and end-to-end business solutions comprising ERP modules of accounting, human resources, customer relationship management, procurement, manufacturing, asset management, and others. It also provides services, including offshore development center, outsourcing and offshoring, digital transformation, and data migration; systems design and integration, such as solution development, system integration, testing as a service, and SAP; consulting and training; and education and upskilling through NTG Academy. In addition, the company offers outsourced software development solutions. NTG Clarity Networks Inc. was founded in 1992 and is headquartered in Markham, Canada.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NTG Clarity Networks Inc. reported revenue of C$83.4M in FY2025 versus C$11.9M in FY2021, a compound +62.7%/yr. Reported net income was C$5.5M in FY2025, compounding +41.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
C$83.4M
Latest YoY
+48.5%
Avg. revenue 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.
+67.8%
Avg. revenue 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.
+60.2%
Avg. revenue growth/yr (25Y) ⓘ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.
+9.6%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +29.1% (approximate, leans on 2025) · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+29.1%
Dividend yield0.0%
Trend ⓘ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.5Y 29.1% vs 10Y 21.0%, picking up
Operating margin (EBIT) ⓘ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.−14.7% (2020) → 12.0% (2025) · rising
Worst earnings drop10,823% (2019) (loss year, drop beyond 100%) · in CAD
⚠ Rate leans on 2025: that final year sits 180% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue +62.7%/yr
FY21 C$11.9M
FY22 C$17.7M
FY23 C$27.7M
FY24 C$56.1M
FY25 C$83.4M
Net income +41.7%/yr
FY21 C$1.4M
FY22 C$1.2M
FY23 C$1.7M
FY24 C$9.8M
FY25 C$5.5M
Character of growth · EPS growth decomposed (2012-2023) +1.3 % p.a.
Revenue per share +7.1 %

of which total revenue +7.0 % · buybacks/dilution +0.1 %

EBIT margin −7.3 %
Tax rate +1.9 %
Residual (interest, one-offs) +0.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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C$3.22 +86%Fair Value
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Cite: Fair Value Calculator (2026). "NTG Clarity Networks Inc. Fair Value". https://www.fairvalue-calculator.com/stock/NCI.V

Peer Group

Software - Application · 691 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 46 · Below median
Fair Value upside +200% · Top 25%
Return on equity (TTM) 19% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth 8% · Above median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 5.7× · Cheaper than 75% of peers
P/B 0.95× · Cheaper than median
P/S (TTM) 0.31× · Cheaper than 75% of peers
EV/EBITDA 2.7× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE41 · sector 36
PAST77 · sector 12
HEALTH91 · sector 98
DIVIDEND0 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

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Salesforce, Inc CRM $259.23 $249.28 −4%
ServiceNow, Inc NOW $138.43 $43.73 −68%
Cadence Design Systems, Inc CDNS $340.39 $112.57 −67%
Snowflake Inc SNOW $329.11 $42.27 −87%
Adobe Inc ADBE $266.51 $454.04 +70%
Automatic Data Processing, Inc ADP $277.62 $177.51 −36%
Intuit Inc INTU $332.70 $363.46 +9%

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Frequently asked questions

Is NTG Clarity Networks Inc. (NCI) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of C$3.22 versus a price of C$0.4550, about +608% upside (undervalued).
What is the fair value of NCI?
Our model-based fair value for NTG Clarity Networks Inc. is C$3.22 (as of Aug 27, 2026), built from audited fundamentals. The current price: C$0.4550.
What is the quality score of NCI?
NTG Clarity Networks Inc. has a Quality Score of 46/100. 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 NTG Clarity Networks Inc. (NCI)?
Our model-based price target is the fair value of C$3.22 (as of Aug 27, 2026) from 15 valuation models. Cautious scenario C$2.42, optimistic scenario C$4.04. It is a calculation from audited fundamentals, not an analyst target.
What is the NTG Clarity Networks Inc. stock forecast for 2026?
Our models put fair value at C$3.22, about +608% upside versus a price of C$0.4550 (undervalued). Cautious scenario C$2.42, optimistic scenario C$4.04. The calculation is refreshed regularly with new filings.
What is the revenue of NTG Clarity Networks Inc. (NCI)?
NTG Clarity Networks Inc. reported trailing-twelve-month revenue of about C$84.9M (latest available figure, as of Aug 27, 2026).
What is the net profit margin of NCI?
The net profit margin of NTG Clarity Networks Inc. is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
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