Nagarro SE

DB:NA9 Stock Report

Market Cap: €1.3b

Nagarro Valuation

Is NA9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NA9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NA9 (€98.3) is trading below our estimate of fair value (€135.3)

Significantly Below Fair Value: NA9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NA9?

Key metric: As NA9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NA9. This is calculated by dividing NA9's market cap by their current earnings.
What is NA9's PE Ratio?
PE Ratio24x
Earnings€54.34m
Market Cap€1.30b

Price to Earnings Ratio vs Peers

How does NA9's PE Ratio compare to its peers?

The above table shows the PE ratio for NA9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.9x
SANT Kontron
12.3x19.1%€1.0b
COK Cancom
18.1x1.1%€733.0m
YSN secunet Security Networks
25x8.5%€690.9m
GFT GFT Technologies
12x12.3%€570.0m
NA9 Nagarro
24x17.1%€1.3b

Price-To-Earnings vs Peers: NA9 is expensive based on its Price-To-Earnings Ratio (24x) compared to the peer average (16.9x).

Price to Earnings Ratio vs Industry

How does NA9's PE Ratio compare vs other companies in the DE IT Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
NA9 24.0xIndustry Avg. 17.4xNo. of Companies4PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NA9 is expensive based on its Price-To-Earnings Ratio (24x) compared to the European IT industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is NA9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NA9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24x
Fair PE Ratio24x

Price-To-Earnings vs Fair Ratio: NA9 is good value based on its Price-To-Earnings Ratio (24x) compared to the estimated Fair Price-To-Earnings Ratio (24x).

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 NA9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€98.30
€112.25
+14.2%
11.8%€135.00€102.00n/a4
Nov ’25€89.05
€112.25
+26.1%
11.8%€135.00€102.00n/a4
Oct ’25€88.75
€121.25
+36.6%
23.7%€170.00€96.00n/a4
Sep ’25€76.35
€116.50
+52.6%
27.5%€170.00€88.00n/a4
Aug ’25€79.80
€116.50
+46.0%
27.5%€170.00€88.00n/a4
Jul ’25€75.95
€116.50
+53.4%
27.5%€170.00€88.00n/a4
Jun ’25€80.10
€116.50
+45.4%
27.5%€170.00€88.00n/a4
May ’25€72.30
€113.75
+57.3%
30.0%€170.00€85.00n/a4
Apr ’25€78.85
€118.75
+50.6%
35.7%€190.00€85.00n/a4
Mar ’25€83.25
€118.75
+42.6%
35.7%€190.00€85.00n/a4
Feb ’25€90.85
€118.75
+30.7%
35.7%€190.00€85.00n/a4
Jan ’25€88.05
€118.75
+34.9%
35.7%€190.00€85.00n/a4
Dec ’24€83.45
€118.75
+42.3%
35.7%€190.00€85.00n/a4
Nov ’24€66.70
€119.00
+78.4%
35.6%€190.00€83.00€89.054
Oct ’24€69.95
€119.25
+70.5%
35.3%€190.00€84.00€88.754
Sep ’24€69.15
€119.25
+72.5%
35.3%€190.00€84.00€76.354
Aug ’24€86.00
€134.75
+56.7%
29.9%€200.00€99.00€79.804
Jul ’24€77.00
€136.75
+77.6%
28.2%€200.00€104.00€75.954
Jun ’24€78.20
€136.75
+74.9%
28.2%€200.00€104.00€80.104
May ’24€97.25
€164.75
+69.4%
24.5%€220.00€107.00€72.304
Apr ’24€93.20
€164.75
+76.8%
24.5%€220.00€107.00€78.854
Mar ’24€99.20
€177.00
+78.4%
14.6%€220.00€155.00€83.254
Feb ’24€130.00
€177.00
+36.2%
14.6%€220.00€155.00€90.854
Jan ’24€111.00
€177.00
+59.5%
14.6%€220.00€155.00€88.054
Dec ’23€114.40
€177.00
+54.7%
14.6%€220.00€155.00€83.454
Nov ’23€100.40
€180.50
+79.8%
15.0%€220.00€144.00€66.704

Analyst Forecast: Target price is less than 20% higher than the current share price.

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