Nucleus Software Exports Limited (NUCLEUS) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Nucleus Software Exports Limited ₹544, price ₹647, upside -15.9%, quality 56 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 Oct 2, 2026.
How to read this chart
60‑month range ₹339.84 – ₹1,675 · fair‑value band ₹366.12 – ₹785.76 · the ₹646.95 price screens above the ₹543.91 fair value. Dashed = 300-day average. As of Oct 2, 2026.
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Nucleus Software Exports Limited provides lending and transaction banking products to the financial services industry in India, the Far East, South East Asia, Europe, the Middle East, Africa, Australia, and internationally.
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Nucleus Software Exports Limited provides lending and transaction banking products to the financial services industry in India, the Far East, South East Asia, Europe, the Middle East, Africa, Australia, and internationally. Its flagship products include FinnOne Neo, a lending solution designed to support retail, corporate, and Islamic sectors for banks and other financial service companies; and FinnAxia, an integrated transaction banking solution comprising global receivables, global payments, global liquidity management, financial supply chain management, virtual account management, digital compass, e-Trade Finance, and business internet banking. The company also offers PaySe online and offline digital payment solution, and nucleus software digital services. In addition, it provides testing, consulting, application development, maintenance, and infrastructure management services. Nucleus Software Exports Limited was founded in 1986 and is headquartered in Noida, India.
Stock analysis
Nucleus Software Exports Limited (NUCLEUS) currently trades at ₹646.95, while our model-based Fair Value estimate is ₹543.91, 15.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,104 per share, and 11 of the 26 models we run sit above the ₹646.95 price.
Bear case: the Dividend Discount group reads lowest at ₹136.47, and 15 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹366.12 (bear) to ₹785.76 (bull), the price of ₹646.95 sits inside 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 Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nucleus Software Exports Limited reported revenue of ₹8.8B in FY2026 versus ₹5.0B in FY2022, a compound +15.2%/yr. Reported net income was ₹1.2B in FY2026, compounding +30.0%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹17.0B (≈ $177M) · P/E ratio 16.1 · P/S ratio 2.15 · EPS (TTM) ₹40.07 · Dividend yield 1.9% · Net margin 13.3% · Return on equity 13.6% · Return on assets (EBIT) 12.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at −16%, NUCLEUS screens richer than that median.
Fair Value models
Bear ₹366.12Fair Value ₹543.91Bull ₹785.76
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. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹14.05 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.94/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.3%
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.
+11.4%
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.
+11.3%
Start year 2021 (pandemic). Over 10 years: +9.6% a year
Revenue growth 21 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.
+10.7%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.7%
Dividend (yield on the price)1.9%
Pace: 5 vs 10 years ⓘ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.7.7% vs 8.6%, steady
Profit margin 2021 to 2026 ⓘ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.23% → 13%
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +10.1% a year for the price.
Compare Nucleus Software Exports Limited with another stock
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.Software - Application · 636 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside−15.9% · Below median
Profitability
Return on equity (TTM)13.6% · Above median
Return on assets5.6% · Above median
Net margin (TTM)12.1% · Above median
Operating margin (TTM)1.3% · Below median
Growth and dividend
Revenue growth−3.3% · Bottom 25%
Dividend yield (TTM)1.9% · Above median
Valuation Multiplesvs Software - Application median · lower = cheaper
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Is Nucleus Software Exports Limited (NUCLEUS) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹543.91 versus a price of ₹646.95, about −16% upside (overvalued).
What is the fair value of NUCLEUS?
Our model-based fair value for Nucleus Software Exports Limited is ₹543.91 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹646.95.
What is the quality score of NUCLEUS?
Nucleus Software Exports Limited 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 Nucleus Software Exports Limited (NUCLEUS)?
Our model-based price target is the fair value of ₹543.91 (as of Oct 2, 2026) from 26 valuation models. Cautious scenario ₹366.12, optimistic scenario ₹785.76. It is a calculation from audited fundamentals, not an analyst target.
What is the Nucleus Software Exports Limited stock forecast for 2026?
Our models put fair value at ₹543.91, about −16% upside versus a price of ₹646.95 (overvalued). Cautious scenario ₹366.12, optimistic scenario ₹785.76. The calculation is refreshed regularly with new filings.
What is the revenue of Nucleus Software Exports Limited (NUCLEUS)?
Nucleus Software Exports Limited reported trailing-twelve-month revenue of about ₹8.7B (latest available figure, as of Oct 2, 2026).
Does Nucleus Software Exports Limited pay a dividend?
Nucleus Software Exports Limited currently shows a dividend yield of about 1.93% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Nucleus Software Exports Limited (NUCLEUS)?
For today's price to be fair in a discounted-cash-flow model, Nucleus Software Exports Limited would have to grow free cash flow by +14.6 % per year for five years (discount rate 15.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.3 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of NUCLEUS use?
Our models discount Nucleus Software Exports Limited at 15.4 %: a base by market capitalisation (micro), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Nucleus Software Exports Limited that is +14.6 % per year a year over ten years, using the same discount rate (15.4 %) and the same formula as our fair value.
How much growth has Nucleus Software Exports Limited (NUCLEUS) delivered so far?
Over the past 5 years revenue at Nucleus Software Exports Limited grew +11.3 % a year. The price currently implies +14.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Nucleus Software Exports Limited (NUCLEUS) growing?
The median revenue growth in the sector is +10.0 % a year. That is the yardstick for the growth priced into Nucleus Software Exports Limited (+14.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nucleus Software Exports Limited (NUCLEUS)?
The free-cash-flow yield on the price is 5.38 %: that much free cash flow Nucleus Software Exports Limited produces per unit of market value. When it exceeds the discount rate of our models (15.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nucleus Software Exports Limited (NUCLEUS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nucleus Software Exports Limited it is ₹543.91 per share (as of Oct 2, 2026), against a price of ₹646.95. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Nucleus Software Exports Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, NUCLEUS trades above its calculated fair value: price ₹646.95, fair value ₹543.91, a gap of about −16% (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 NUCLEUS?
No. The price is what the market pays today (₹646.95); the fair value is what the company's own numbers justify (₹543.91). For Nucleus Software Exports Limited the two are ₹103.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nucleus Software Exports Limited worth?
The market values Nucleus Software Exports Limited at about ₹17.0B (market capitalisation, as of Oct 2, 2026). Per share that is ₹646.95; our models calculate a fair value of ₹543.91 per share.
What do the bullish and bearish scenarios say about NUCLEUS?
Our models span a range for Nucleus Software Exports Limited: cautious scenario ₹366.12, base ₹543.91, optimistic ₹785.76 per share (as of Oct 2, 2026, price ₹646.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NUCLEUS?
Nucleus Software Exports Limited trades at a price-to-earnings ratio of 16.1 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹543.91 is built from several models across several years. Other multiples: P/B 1.9, P/S 2.0, EV/EBITDA 15.9.
How solid is the balance sheet of Nucleus Software Exports Limited (NUCLEUS)?
Balance-sheet figures for Nucleus Software Exports Limited (as of Oct 2, 2026): return on equity 13.6%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is NUCLEUS from its 52-week high?
Nucleus Software Exports Limited trades at ₹646.95, about 37% below its 52-week high of ₹1,029 and at the low of ₹646.95 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹543.91 is for.
Which stocks are comparable to Nucleus Software Exports Limited?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 Nucleus Software Exports Limited stock attractive at the current price?
The data as of Oct 2, 2026: price ₹646.95, calculated fair value ₹543.91 (−16%), Quality Score 56/100, from 26 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 NUCLEUS calculated?
We run Nucleus Software Exports Limited through 26 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 ₹543.91, 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 14.5 % above its aggregate fair value. Nucleus Software Exports Limited 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 Nucleus Software Exports Limited (NUCLEUS)?
The closing price on Oct 1, 2026 was ₹646.95. Our model-based fair value is ₹543.91, about −16% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nucleus Software Exports Limited right now?
Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹366.12 to ₹785.76) leaves room in how you read the outcome.
Where does the earnings growth of Nucleus Software Exports Limited (NUCLEUS) come from?
Earnings per share at Nucleus Software Exports Limited grew +15.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +12.5 %, EBIT margin +6.8 %, tax rate −0.6 %, residual (interest, one-offs) −3.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Nucleus Software Exports Limited
How large is the market capitalisation of Nucleus Software Exports Limited (NUCLEUS)?
The market capitalisation of Nucleus Software Exports Limited is ₹17.0B (≈ $177M). 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 Nucleus Software Exports Limited (NUCLEUS)?
The price-to-sales ratio of Nucleus Software Exports Limited is 2.15 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nucleus Software Exports Limited (NUCLEUS)?
Earnings per share at Nucleus Software Exports Limited are ₹40.07 (price ÷ EPS = P/E 16.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nucleus Software Exports Limited (NUCLEUS)?
The dividend yield of Nucleus Software Exports Limited is 1.9% (payout 31.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nucleus Software Exports Limited (NUCLEUS)?
The net margin of Nucleus Software Exports Limited is 13.3% (fiscal year 2026). 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 Nucleus Software Exports Limited (NUCLEUS)?
The return on equity (ROE) of Nucleus Software Exports Limited is 13.6% (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 Nucleus Software Exports Limited (NUCLEUS)?
On an EBIT basis the return on assets of Nucleus Software Exports Limited is 12.2% (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 Nucleus Software Exports Limited (NUCLEUS)?
The operating margin of Nucleus Software Exports Limited is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nucleus Software Exports Limited (NUCLEUS)?
Revenue at Nucleus Software Exports Limited is growing −3.3% versus a year earlier (3y avg +11.4%). 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 Nucleus Software Exports Limited (NUCLEUS)?
Earnings per share at Nucleus Software Exports Limited are growing −32.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nucleus Software Exports Limited (NUCLEUS) hold?
Nucleus Software Exports Limited holds more cash than debt, ₹1.1B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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