Reported Earnings • May 05
Full year 2025 earnings released: EPS: €0.27 (vs €0.17 in FY 2024) Full year 2025 results: EPS: €0.27 (up from €0.17 in FY 2024). Revenue: €124.5m (down 7.2% from FY 2024). Net income: €9.72m (up 81% from FY 2024). Profit margin: 7.8% (up from 4.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.6% to €8.78. The fair value is estimated to be €11.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. New Risk • Apr 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.0% per year over the past 5 years. High level of non-cash earnings (34% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Mar 10
Now 20% undervalued Over the last 90 days, the stock has risen 1.1% to €8.85. The fair value is estimated to be €11.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Buy Or Sell Opportunity • Feb 19
Now 21% undervalued Over the last 90 days, the stock has risen 1.7% to €9.00. The fair value is estimated to be €11.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Buy Or Sell Opportunity • Feb 03
Now 21% undervalued Over the last 90 days, the stock has risen 5.7% to €9.30. The fair value is estimated to be €11.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Annonce • Jan 20
Novabase S.G.P.S., S.A. to Report Fiscal Year 2025 Results on Feb 25, 2026 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2025 results After-Market on Feb 25, 2026 Buy Or Sell Opportunity • Jan 17
Now 20% undervalued Over the last 90 days, the stock has risen 14% to €9.15. The fair value is estimated to be €11.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Buy Or Sell Opportunity • Dec 24
Now 21% undervalued Over the last 90 days, the stock has risen 8.9% to €8.60. The fair value is estimated to be €10.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. New Risk • Aug 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 7x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 3.0% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.5% average weekly change). Reported Earnings • Aug 06
First half 2025 earnings released: EPS: €0.12 (vs €0.084 in 1H 2024) First half 2025 results: EPS: €0.12 (up from €0.084 in 1H 2024). Revenue: €62.2m (down 5.7% from 1H 2024). Net income: €4.31m (up 88% from 1H 2024). Profit margin: 6.9% (up from 3.5% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €8.45, the stock trades at a trailing P/E ratio of 56.3x. Average trailing P/E is 19x in the IT industry in Europe. Total returns to shareholders of 154% over the past three years. Buy Or Sell Opportunity • Jun 05
Now 24% undervalued Over the last 90 days, the stock has risen 20% to €8.70. The fair value is estimated to be €11.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 35%. Declared Dividend • May 28
Dividend reduced to €1.35 Dividend of €1.35 is 25% lower than last year. Ex-date: 19th June 2025 Payment date: 23rd June 2025 Dividend yield will be 14%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 7x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 44% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 774% to bring the payout ratio under control. However, EPS has declined by 6.7% over the last 5 years so the company would need to reverse this trend. Annonce • May 28
Novabase S.G.P.S., S.A. announces Annual dividend, payable on June 23, 2025 Novabase S.G.P.S., S.A. announced Annual dividend of EUR 1.3500 per share payable on June 23, 2025, ex-date on June 05, 2025 and record date on June 06, 2025. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €9.70, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 19x in the IT industry in Europe. Total returns to shareholders of 140% over the past three years. Reported Earnings • Feb 23
Full year 2024 earnings released Full year 2024 results: Revenue: €136.3m (up 2.8% from FY 2023). Net income: €5.36m (up 77% from FY 2023). Profit margin: 3.9% (up from 2.3% in FY 2023). The increase in margin was driven by higher revenue. New Risk • Feb 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 3.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 14x earnings per share. Dividend per share is over 6x cash flows per share. Earnings have declined by 9.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (3.3% average weekly change). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €7.25, the stock trades at a trailing P/E ratio of 61.2x. Average trailing P/E is 18x in the IT industry in Europe. Total returns to shareholders of 81% over the past three years. Annonce • Feb 20
Novabase S.G.P.S., S.A. to Report First Half, 2025 Results on Jul 31, 2025 Novabase S.G.P.S., S.A. announced that they will report first half, 2025 results on Jul 31, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 44% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 14x earnings per share. Dividend per share is over 6x cash flows per share. Earnings have declined by 9.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Annonce • Jan 07
Novabase S.G.P.S., S.A. to Report Fiscal Year 2024 Results on Feb 20, 2025 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2024 results After-Market on Feb 20, 2025 Reported Earnings • Oct 01
First half 2024 earnings released: EPS: €0.084 (vs €0.07 in 1H 2023) First half 2024 results: EPS: €0.084 (up from €0.07 in 1H 2023). Revenue: €65.9m (up 1.2% from 1H 2023). Net income: €2.30m (up 19% from 1H 2023). Profit margin: 3.5% (up from 3.0% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 05
First half 2024 earnings released: EPS: €0.081 (vs €0.16 in 1H 2023) First half 2024 results: EPS: €0.081 (down from €0.16 in 1H 2023). Revenue: €66.7m (down 25% from 1H 2023). Net income: €2.30m (down 47% from 1H 2023). Profit margin: 3.4% (down from 4.9% in 1H 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. New Risk • Aug 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 15x earnings per share. Cash payout ratio: 367% Minor Risks Profit margins are more than 30% lower than last year (2.5% net profit margin). Shareholders have been diluted in the past year (44% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €6.45, the stock trades at a trailing P/E ratio of 55.5x. Average trailing P/E is 20x in the IT industry in Europe. Total returns to shareholders of 108% over the past three years. New Risk • Mar 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). Shareholders have been diluted in the past year (9.6% increase in shares outstanding). Reported Earnings • Feb 16
Full year 2023 earnings released Full year 2023 results: Revenue: €133.0m (down 19% from FY 2022). Net income: €3.03m (down 55% from FY 2022). Profit margin: 2.3% (down from 4.1% in FY 2022). The decrease in margin was driven by lower revenue. New Risk • Aug 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 31
First half 2023 earnings released: EPS: €0.16 (vs €0.14 in 1H 2022) First half 2023 results: EPS: €0.16 (up from €0.14 in 1H 2022). Revenue: €89.0m (up 17% from 1H 2022). Net income: €4.32m (up 8.5% from 1H 2022). Profit margin: 4.9% (down from 5.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 22
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €5.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 48% in the next 2 years. Buying Opportunity • Feb 28
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be €5.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 48% in the next 2 years. Reported Earnings • Feb 19
Full year 2022 earnings released Full year 2022 results: Revenue: €163.9m (up 18% from FY 2021). Net income: €6.78m (down 11% from FY 2021). Profit margin: 4.1% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.6% growth forecast for the IT industry in Europe. Annonce • Feb 08
Novabase S.G.P.S., S.A. to Report Fiscal Year 2022 Results on Feb 16, 2023 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2022 results After-Market on Feb 16, 2023 Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 01
First half 2022 earnings released: EPS: €0.13 (vs €0.10 in 1H 2021) First half 2022 results: EPS: €0.13 (up from €0.10 in 1H 2021). Revenue: €76.1m (up 13% from 1H 2021). Net income: €3.98m (up 23% from 1H 2021). Profit margin: 5.2% (up from 4.8% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.3% compared to a 3.5% decline forecast for the industry in Portugal. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.0%. The fair value is estimated to be €6.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 8.5% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 20
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.25 (up from €0.097 in FY 2020). Revenue: €139.0m (up 11% from FY 2020). Net income: €7.65m (up 157% from FY 2020). Profit margin: 5.5% (up from 2.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 7.2% while the industry in Portugal is not expected to grow. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Annonce • Oct 08
Novabase S.G.P.S., S.A. (DB:NVQ) commences an Equity Buyback Plan under the authorization approved on May 25, 2021. Novabase S.G.P.S., S.A. (DB:NVQ) commences share repurchases on September 30, 2021, under the program mandated by the Extraordinary General Meeting held on May 25, 2021. As per the mandate, the company is authorized to repurchase own shares.
On September 28, 2021, the company initiated a share repurchase program. Under the program, the company will repurchase up to 270,000 ordinary shares, representing 10% of the share capital for €1.5 million. The price of acquisition shall fall within a minimum of 25% below the weighted average value of the weighted daily average trading prices of the shares on Euronext Lisbon during the 10 trading sessions immediately preceding the date of acquisition or the creation of the right to acquire shares, and a maximum of 25% above that value. The program will expire on December 31, 2023. Reported Earnings • Oct 01
First half 2021 earnings released: EPS €0.10 (vs €0.052 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €67.6m (up 6.2% from 1H 2020). Net income: €3.23m (up 100% from 1H 2020). Profit margin: 4.8% (up from 2.5% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 03
First half 2021 earnings released: EPS €0.11 (vs €0.052 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €67.7m (up 6.3% from 1H 2020). Net income: €3.23m (up 100% from 1H 2020). Profit margin: 4.8% (up from 2.5% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 25
New 90-day high: €3.99 The company is up 22% from its price of €3.27 on 27 November 2020. The Portuguese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 8.0% over the same period. Is New 90 Day High Low • Feb 09
New 90-day high: €3.49 The company is up 7.0% from its price of €3.25 on 10 November 2020. The Portuguese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 8.0% over the same period. Annonce • Jan 26
Novabase S.G.P.S., S.A. to Report Fiscal Year 2020 Results on Feb 25, 2021 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2020 results at 5:00 PM, Coordinated Universal Time on Feb 25, 2021 Is New 90 Day High Low • Oct 30
New 90-day low: €3.15 The company is down 2.0% from its price of €3.22 on 31 July 2020. The Portuguese market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 4.0% over the same period. Reported Earnings • Sep 21
First half earnings released Over the last 12 months the company has reported total profits of €6.05m, with earnings increasing by €5.10m from the prior year. Total revenue was €127.9m over the last 12 months, up 32% from the prior year. Is New 90 Day High Low • Sep 19
New 90-day high: €3.61 The company is up 13% from its price of €3.20 on 19 June 2020. The Portuguese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 8.0% over the same period.