NEXTDC Limited

DB:2NX Stock Report

Market Cap: €6.3b

NEXTDC Valuation

Is 2NX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2NX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 2NX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 2NX's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2NX?

Key metric: As 2NX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2NX. This is calculated by dividing 2NX's market cap by their current revenue.
What is 2NX's PS Ratio?
PS Ratio25x
SalesAU$404.34m
Market CapAU$10.10b

Price to Sales Ratio vs Peers

How does 2NX's PS Ratio compare to its peers?

The above table shows the PS ratio for 2NX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.9x
IOS IONOS Group
2.1x8.3%€3.2b
BC8 Bechtle
0.6x6.8%€4.0b
QBY q.beyond
0.5x4.8%€91.2m
NEM Nemetschek
12.5x14.1%€11.5b
2NX NEXTDC
25x14.8%€10.1b

Price-To-Sales vs Peers: 2NX is expensive based on its Price-To-Sales Ratio (25x) compared to the peer average (3.9x).

Price to Sales Ratio vs Industry

How does 2NX's PS Ratio compare vs other companies in the DE IT Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
ASKN asknet Solutions
0.01x20.1%US$984.32k
No more companies available in this PS range
2NX 25.0xIndustry Avg. 0.7xNo. of Companies6PS00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 2NX is expensive based on its Price-To-Sales Ratio (25x) compared to the German IT industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is 2NX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2NX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio25x
Fair PS Ratio6.5x

Price-To-Sales vs Fair Ratio: 2NX is expensive based on its Price-To-Sales Ratio (25x) compared to the estimated Fair Price-To-Sales Ratio (6.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2NX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.95
€12.00
+20.6%
11.3%€15.56€8.48n/a16
Nov ’25€9.60
€12.23
+27.4%
11.3%€15.86€8.64n/a16
Oct ’25€10.50
€12.23
+16.4%
11.4%€15.89€8.66n/a16
Sep ’25€10.10
€11.57
+14.5%
19.7%€15.43€4.02n/a17
Aug ’25€10.00
€11.42
+14.2%
18.6%€13.10€3.97n/a17
Jul ’25€10.70
€11.61
+8.5%
18.4%€13.51€4.09n/a17
Jun ’25€11.20
€11.38
+1.6%
18.4%€13.35€4.04n/a17
May ’25€10.00
€11.07
+10.7%
18.5%€13.07€3.96n/a17
Apr ’25€10.50
€10.83
+3.2%
20.8%€13.84€3.96n/a17
Mar ’25€9.90
€10.78
+8.9%
20.6%€13.80€3.95n/a17
Feb ’25€8.20
€9.55
+16.5%
13.3%€13.44€7.32n/a16
Jan ’25€8.30
€9.48
+14.2%
11.4%€12.69€7.40n/a16
Dec ’24€7.75
€9.22
+19.0%
11.4%€12.36€7.21n/a16
Nov ’24€7.05
€8.86
+25.7%
19.7%€12.35€3.22€9.6017
Oct ’24€7.45
€8.83
+18.5%
19.5%€12.26€3.20€10.5017
Sep ’24€7.90
€8.75
+10.8%
19.9%€12.26€3.20€10.1017
Aug ’24€7.80
€8.28
+6.2%
18.4%€10.96€3.27€10.0017
Jul ’24€7.55
€8.31
+10.1%
18.2%€10.79€3.29€10.7017
Jun ’24€7.50
€8.11
+8.1%
18.7%€10.77€3.28€11.2016
May ’24€6.80
€7.96
+17.1%
19.3%€11.13€3.22€10.0017
Apr ’24€6.30
€7.65
+21.4%
15.1%€10.53€4.66€10.5016
Mar ’24€6.60
€7.89
+19.5%
15.3%€10.80€4.78€9.9016
Feb ’24€6.25
€8.11
+29.7%
16.3%€11.15€4.94€8.2016
Jan ’24€5.70
€8.02
+40.6%
15.6%€10.48€4.89€8.3016
Dec ’23€6.05
€8.02
+32.5%
15.6%€10.48€4.89€7.7516
Nov ’23€5.60
€8.02
+43.2%
15.6%€10.48€4.89€7.0516

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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