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BIPROGY Inc (NTULF) Fair Value & Analysis

Technology · US · Market cap $2.8B

BI BIPROGY Inc logo BIPROGY Inc NTULF · US
Price$28.78
Fair Value$48.47
Upside+68.4%
Quality70/100
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Healthy Growth
Thin margins · 7.2% net margin
Low debt · generates free cash flow
3.05% dividend yield
Ranks above peers (9/11)
Moderate moat 56/100
Evidence: High Range $32.40 – $60.59 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 22 days ago

A solid business, screening 68% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case ($32.40). The market is more pessimistic than our downside scenario.
  • A fairly wide model range ($32.40 to $60.59) leaves room in how you read the outcome.
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Price vs Fair Value (18 months)

$28.91 $26.68 Fair Value $48.47 Feb 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

18‑month range $26.68 – $28.91 · fair‑value band $32.40 – $60.59 · the $28.78 price screens below the $48.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

BIPROGY Inc (NTULF) currently trades at $28.78, while our model-based Fair Value estimate is $48.47, implying the stock looks roughly 68.4% undervalued today. The Quality Score stands at 70/100 (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, BIPROGY Inc generated revenue of $434B at a net margin of 7.2%. Revenue grew 1.7% year over year. It earns a return on equity of 17.9%. The stock trades on a trailing P/E of 14.5. Fundamentals as of Jul 19, 2026

Our scenario range runs from $32.40 (bear case) to $60.59 (bull case); at $28.78, 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 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 68%, NTULF 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 BearBaseBull Evidence
Highest evidence
Growth DCF $27.14 $40.74 $61.21 80
Rev-Margin DCF $25.98 $40.27 $57.39 74
ROIC Compounder $23.08 $28.35 $34.55 72
All 24 models by family
DCF Models
FCF DCF $27.00 $41.08 $62.65 38
Owner Earnings $26.99 $41.07 $62.63 31
5Y Revenue Exit $25.98 $40.37 $59.05 39
5Y EBITDA Exit $40.66 $68.73 $102.48 41
5Y P/E Exit $33.34 $54.60 $77.59 38
10Y Revenue Exit $25.42 $38.64 $57.11 36
10Y EBITDA Exit $35.38 $58.23 $90.49 37
10Y P/E Exit $30.76 $48.47 $71.36 35
Earnings-Based
Graham-Dodd $12.00 $43.35 $58.46 54
Lynch FV $10.27 $14.67 $19.07 50
PEG = 1.0 $10.27 $14.67 $19.07 46
EPV $21.48 $24.32 $26.77 59
Multiples
P/E Multiple $37.07 $49.42 $61.78 63
P/S Multiple $22.51 $30.01 $37.51 58
P/B Multiple $22.51 $30.01 $37.51 55
EV/EBIT $48.56 $63.58 $78.59 53
EV/EBITDA $53.15 $69.70 $86.25 54
EV/Revenue $26.28 $36.04 $45.80 43
Asset-Based
NCAV (Graham) $5.61 $7.51 $11.21 50
Growth DCF
Growth DCF $27.14 $40.74 $61.21 80
Rev-Margin DCF $25.98 $40.27 $57.39 74
Economic Profit
Residual Income $11.29 $14.85 $40.58 61
ROIC Compounder $23.08 $28.35 $34.55 72
Growth Earnings
Growth-Adj P/E $23.53 $33.62 $43.70 68

Widest divergence: DCF Models ($41.08) versus Asset-Based ($7.51). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $434B
Revenue growth (YoY) +1.7%
Net margin 7.2%
Return on equity 17.9%
Free cash flow $31.9B FY2025
P/E ratio 14.5
More key figures
Operating margin 9.7%
EPS (TTM) $1.99
Dividend yield 3.1%
EPS growth (YoY) -3.8%

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 56

Profitability 61
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 95
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

BIPROGY Inc. provides cloud computing and outsourcing services in Japan. It also engages in the sale/rental of computer and network system; development and sale of software; and provision of system related services.

Full company description

BIPROGY Inc. provides cloud computing and outsourcing services in Japan. It also engages in the sale/rental of computer and network system; development and sale of software; and provision of system related services. In addition, the company provides digital transformation, workstyle reforms, artificial intelligence, robot deployment, blockchain, IoT, service design, agile development and support, DevSecOps framework, environment and energy, travel and inbound tourism, BCP, disaster measure, remote monitoring, security, marketing, cashless payment, customer experience management, customer relationship management, and data usage services. Further, the company offers SRM, electronic procurement and purchasing, logistics, enterprise resource planning, workplace/facility management, storage service platform, and corporate training services. Additionally, it provides cloud services, IoT, system platform, web development platform, O and M, dev support, integration platform, next generation unified application platform, UI/UX design, information security, centralized authentication, account management, IT platform optimization, and thin clients; system optimization comprising ICT discovery, construction, installation, support, operation, and training; and hardware, middleware, and related services. The company provides solutions for various industries, including financial services, manufacturing, distribution, transportation, energy, central and local governments, pharmaceutical, healthcare, travel, leasing, education, media, and social insurance. The company was formerly known as Nihon Unisys, Ltd. and changed its name to BIPROGY Inc. in April 2022. BIPROGY Inc. was founded in 1947 and is headquartered in Tokyo, Japan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BIPROGY Inc reported revenue of $404B in FY2025 versus $308B in FY2021, a compound +7.0%/yr. Reported net income was $27.0B in FY2025, compounding +12.8%/yr from FY2021.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$404B
Latest YoY
+9.2%
Avg. growth/yr (3Y)
+8.4%
Revenue +7.0%/yr
FY21 $308B
FY22 $318B
FY23 $340B
FY24 $370B
FY25 $404B
Net income +12.8%/yr
FY21 $16.6B
FY22 $20.5B
FY23 $20.2B
FY24 $25.2B
FY25 $27.0B

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

Peer Group

Information Technology Services · 480 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 70 · Top 25%
Fair Value upside +68% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 14.5× · Cheaper than median
P/FCF 0.1× · 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 20
FUTURE 9 · sector 29
PAST 72 · sector 36
HEALTH 97 · sector 97
DIVIDEND 61 · sector 37

Insider activity: 45/100

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is BIPROGY Inc (NTULF) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of $48.47 versus a price of $28.78, about +68% (undervalued).
What is the fair value of NTULF?
Our model-based fair value for BIPROGY Inc is $48.47 (as of Jul 19, 2026), built from audited fundamentals. The current price is $28.78.
What is the quality score of NTULF?
BIPROGY Inc has a Quality Score of 70/100. 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 BIPROGY Inc (NTULF)?
BIPROGY Inc reported trailing-twelve-month revenue of about $434B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of NTULF?
The net profit margin of BIPROGY Inc is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does BIPROGY Inc pay a dividend?
BIPROGY Inc currently shows a dividend yield of about 3.05% relative to its recent price (as of Jul 19, 2026).

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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