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Nuix Limited (NXL) Fair Value & Analysis

Technology · AU · Market cap A$439M

NL Nuix Limited NXL · AU
PriceA$1.48
Fair ValueA$2.57
Upside+73.7%
Quality62/100
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Mixed Growth
Thin margins · 5.2% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Narrow moat 36/100
Evidence: Medium Range A$1.96 – A$3.19 Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from A$1.89 to A$2.57 (+36.0%) since Jul 16, 2026. Share price +16.5% over the past month.

A solid business, screening 74% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (A$1.96). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

A$7.74 A$0.5300 Fair Value A$2.57 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range A$0.5300 – A$7.74 · fair‑value band A$1.96 – A$3.19 · the A$1.48 price screens below the A$2.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Nuix Limited (NXL) currently trades at A$1.48, while our model-based Fair Value estimate is A$2.57, implying the stock looks roughly 73.7% undervalued today. The Quality Score stands at 62/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Nuix Limited generated revenue of A$237M at a net margin of 5.2%. Revenue grew 15.2% year over year. It earns a return on equity of 4.1%. The balance sheet holds a net cash position of A$35.0M. Fundamentals as of Aug 13, 2026

Our scenario range runs from A$1.96 (bear case) to A$3.19 (bull case); at A$1.48, 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 56% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at 74%, NXL 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 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
Growth DCF A$0.8100 A$1.25 A$1.87 80
Rev-Margin DCF A$0.7500 A$1.22 A$1.82 74
Gordon GGM A$0.2200 A$0.3900 A$0.5300 70
All 13 models by family
DCF Models
FCF DCF A$0.8200 A$1.32 A$2.06 38
Owner Earnings A$1.41 A$2.28 A$3.59 31
5Y Revenue Exit A$0.7500 A$1.23 A$1.86 39
5Y EBITDA Exit A$1.39 A$2.53 A$3.96 41
10Y Revenue Exit A$0.7500 A$1.18 A$1.83 36
10Y EBITDA Exit A$1.15 A$2.05 A$3.41 37
Dividend Discount
Gordon GGM A$0.2200 A$0.3900 A$0.5300 70
DDM Multi-Stage A$0.2200 A$0.3500 A$0.4100 61
Multiples
EV/EBITDA A$1.90 A$2.51 A$3.13 54
EV/Revenue A$0.7200 A$1.01 A$1.30 43
Asset-Based
NCAV (Graham) A$0.4300 A$0.5800 A$0.8600 50
Growth DCF
Growth DCF A$0.8100 A$1.25 A$1.87 80
Rev-Margin DCF A$0.7500 A$1.22 A$1.82 74

Widest divergence: DCF Models (A$1.32) versus Dividend Discount (A$0.3500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) A$237M
Revenue growth (YoY) +15.2%
Net margin 5.2%
Return on equity 4.1%
Free cash flow A$25.3M FY2024
P/E ratio 37.0
More key figures
Operating margin 5.8%
EPS (TTM) A$0.0400
EPS growth (YoY) -99.8%
Net cash A$35.0M FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 15

Profitability 29
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 83
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

Nuix Limited provides investigative analytics and intelligence software solutions in the Asia Pacific, the Americas, Europe, the Middle East, and Africa.

Full company description

Nuix Limited provides investigative analytics and intelligence software solutions in the Asia Pacific, the Americas, Europe, the Middle East, and Africa. The company offers Nuix Neo Platform, a solution-based offering that solves most challenging data problems; Nuix Neo Data Privacy for managing data privacy; Nuix Neo Investigations, collaborates in real time and uncover the truth with insights on a massive scale; and Nuix Neo Legal provides insights from data and make decisions for law firms and legal service providers. It also provides Nuix Neo Discover, an eDiscovery processing, review, analytics, and predictive coding in one software solution; Nuix Workstation, a platform that process file formats and source types to search and analyze, and turn data into information; Nuix Investigate, visualize communication patterns and establish case position sooner; Nuix Adaptive Security, detects potential internal and external threats to data security in real-time; and Nuix Enterprise Collection Center, a streamline and automate data collection for relocation, analysis, processing, and production. In addition, it offers Nuix Rampiva, an ediscovery workflow automation suite that has increased the data-processing throughput of the team. It serves government agencies, regulators, corporations, and professional service firms. The company was formerly known as Nuix Pty Ltd and changed its name to Nuix Limited in September 2020. The company was founded in 2000 and is headquartered in Sydney, Australia.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Nuix Limited reported revenue of A$222M in FY2024 versus A$176M in FY2020, a compound +5.9%/yr. Reported net income was −A$9.2M in FY2024.

Growth Quality 51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
A$222M
Latest YoY
+0.4%
Avg. 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.
+13.3%
Avg. 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.
+4.7%
Avg. growth/yr (8Y) 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.
+10.2%
Revenue +5.9%/yr
FY20 A$176M
FY21 A$152M
FY22 A$182M
FY23 A$221M
FY24 A$222M
Net income
FY20 −A$1.4M
FY21 −A$22.8M
FY22 −A$5.6M
FY23 A$5.0M
FY24 −A$9.2M

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Cite: Fair Value Calculator (2026). "Nuix Limited Fair Value". https://www.fairvalue-calculator.com/stock/NXL

Peer Group

Software - Application · 714 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 62 · Above median
Fair Value upside +74% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets 2% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 15% · Above median
Debt / equity 0.09× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 37.0× · Pricier than median
P/B 1.07× · Cheaper than median
P/S (TTM) 1.31× · Cheaper than median
P/FCF 12.3× · Pricier than median
EV/EBITDA 4.9× · 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 1
FUTURE 76 · sector 38
PAST 17 · sector 13
HEALTH 96 · sector 98
DIVIDEND 0 · sector 27

Insider activity: 40/100

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.

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Frequently asked questions

Is Nuix Limited (NXL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of A$2.57 versus a price of A$1.48, about +74% (undervalued).
What is the fair value of NXL?
Our model-based fair value for Nuix Limited is A$2.57 (as of Aug 13, 2026), built from audited fundamentals. The current price is A$1.48.
What is the quality score of NXL?
Nuix Limited has a Quality Score of 62/100. 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 Nuix Limited (NXL)?
Nuix Limited reported trailing-twelve-month revenue of about A$237M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of NXL?
The net profit margin of Nuix Limited is about 5.2%, meaning it keeps roughly 5.2% of revenue as net income. Based on the latest reported figures.

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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