NEXTDC Limited

DB:2NX Stock Report

Market Cap: €4.8b

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 Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow 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.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: Insufficient data to calculate 2NX's future cash flow value for valuation analysis.

Significantly Below Future Cash Flow Value: Insufficient data to calculate 2NX's future cash flow 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 Ratio19.1x
SalesAU$427.21m
Market CapAU$8.15b

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 Average2.6x
IOS IONOS Group
2.2x2.47%€3.5b
BC8 Bechtle
0.8x5.66%€4.8b
QBY q.beyond
0.5x5.12%€98.2m
NEM Nemetschek
7.1x12.43%€8.2b
2NX NEXTDC
19.1x22.78%€8.1b

Price-To-Sales vs Peers: 2NX is expensive based on its Price-To-Sales Ratio (19.1x) compared to the peer average (1.6x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

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

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
KSC KPS
0.1x5.83%US$23.79m
ASKN asknet Solutions
0.01x20.06%US$984.32k
No more companies available in this PS range
2NX 19.1xIndustry Avg. 0.6xNo. of Companies8PS00.81.62.43.24+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 2NX is expensive based on its Price-To-Sales Ratio (19.1x) compared to the German IT industry average (0.6x).

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 Ratio19.1x
Fair PS Ratio7.9x

Price-To-Sales vs Fair Ratio: 2NX is expensive based on its Price-To-Sales Ratio (19.1x) compared to the estimated Fair Price-To-Sales Ratio (7.9x).

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€7.30
€12.15
+66.38%
14.75%€17.29€10.01n/a14
Feb ’27€7.65
€12.15
+58.77%
14.75%€17.29€10.01n/a14
Jan ’27€6.95
€11.78
+69.48%
13.95%€16.74€9.69n/a14
Dec ’26€7.85
€11.55
+47.18%
12.90%€16.28€9.58n/a15
Nov ’26€8.70
€11.45
+31.63%
12.52%€16.13€9.57n/a15
Oct ’26€9.20
€11.46
+24.52%
12.14%€16.15€9.58n/a16
Sep ’26€9.10
€11.42
+25.55%
12.30%€16.04€9.51n/a16
Aug ’26€7.80
€10.91
+39.86%
15.26%€15.96€8.44n/a16
Jul ’26€7.80
€10.84
+38.99%
15.38%€15.87€8.39n/a16
Jun ’26€7.10
€10.86
+52.94%
15.68%€16.12€8.02n/a16
May ’26€6.35
€10.47
+64.84%
15.84%€15.46€7.80n/a16
Apr ’26€6.45
€11.15
+72.94%
14.80%€16.24€8.19n/a16
Mar ’26€7.80
€11.50
+47.44%
14.79%€16.74€8.44n/a16
Feb ’26€8.70
€11.98
+37.72%
14.47%€17.51€8.37€7.6516
Jan ’26€8.85
€11.85
+33.92%
11.28%€15.34€8.36€6.9516
Dec ’25€9.80
€12.23
+24.76%
11.32%€15.86€8.64€7.8516
Nov ’25€9.60
€12.23
+27.36%
11.32%€15.86€8.64€8.7016
Oct ’25€10.50
€12.23
+16.43%
11.36%€15.89€8.66€9.2016
Sep ’25€10.10
€11.57
+14.53%
19.71%€15.43€4.02€9.1017
Aug ’25€10.00
€11.42
+14.18%
18.58%€13.10€3.97€7.8017
Jul ’25€10.70
€11.61
+8.52%
18.40%€13.51€4.09€7.8017
Jun ’25€11.20
€11.38
+1.61%
18.42%€13.35€4.04€7.1017
May ’25€10.00
€11.07
+10.67%
18.46%€13.07€3.96€6.3517
Apr ’25€10.50
€10.83
+3.15%
20.77%€13.84€3.96€6.4517
Mar ’25€9.90
€10.78
+8.87%
20.63%€13.80€3.95€7.8017
Feb ’25€8.20
€9.55
+16.45%
13.26%€13.44€7.32€8.7016
€11.84
Fair Value
38.4% undervalued intrinsic discount
14
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/09 04:43
End of Day Share Price 2026/02/06 00:00
Earnings2025/06/30
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NEXTDC Limited is covered by 25 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
April LowisBarrenjoey Markets Pty Limited
Eric ChoiBarrenjoey Markets Pty Limited
Aryan NoroziBarrenjoey Markets Pty Limited