NCR Voyix Corporation

DB:NCR1 Stock Report

Market Cap: €2.0b

NCR Voyix Valuation

Is NCR1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 NCR1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NCR1 (€13.6) is trading below our estimate of fair value (€21.41)

Significantly Below Fair Value: NCR1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NCR1?

Key metric: As NCR1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NCR1. This is calculated by dividing NCR1's market cap by their current revenue.
What is NCR1's PS Ratio?
PS Ratio0.6x
SalesUS$3.59b
Market CapUS$2.09b

Price to Sales Ratio vs Peers

How does NCR1's PS Ratio compare to its peers?

The above table shows the PS ratio for NCR1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average11.6x
TMV TeamViewer
2.7x6.5%€1.7b
NB2 Northern Data
29.6x31.5%€2.3b
AOF ATOSS Software
11.7x12.7%€1.9b
MUM Mensch und Maschine Software
2.5x-0.1%€881.9m
NCR1 NCR Voyix
0.6x-23.2%€2.1b

Price-To-Sales vs Peers: NCR1 is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (11.4x).

Price to Sales Ratio vs Industry

How does NCR1's PS Ratio compare vs other companies in the DE Software Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.2.1x10.6%
NCR1 NCR Voyix
 0.6x-23.2%US$2.09b
CSH CENIT
0.3x5.2%US$71.92m
CLIQ Cliq Digital
0.09x13.2%US$23.30m
NCR1 0.6xIndustry Avg. 2.1xNo. of Companies7PS02.44.87.29.612+
7 CompaniesEstimated GrowthMarket Cap
Industry Avg.2.1x39.6%
NCR1 NCR Voyix
 0.6x113.1%US$2.09b
No more companies

Price-To-Sales vs Industry: NCR1 is good value based on its Price-To-Sales Ratio (0.6x) compared to the German Software industry average (2.1x).

Price to Sales Ratio vs Fair Ratio

What is NCR1'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.

NCR1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio0.6x

Price-To-Sales vs Fair Ratio: NCR1 is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

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 NCR1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€13.60
€17.29
+27.1%
21.0%€26.57€13.28n/a9
Nov ’25€11.70
€16.51
+41.1%
21.8%€25.68€12.84n/a9
Oct ’25€12.60
€16.94
+34.5%
20.9%€25.65€14.65n/a8
Sep ’25€12.40
€16.94
+36.6%
20.9%€25.65€14.65n/a8
Aug ’25€13.70
€17.54
+28.1%
20.2%€26.16€13.08n/a9
Jul ’25€11.50
€17.54
+52.6%
20.2%€26.16€13.08n/a9
Jun ’25€12.00
€17.74
+47.8%
20.3%€25.97€12.98n/a8
May ’25€11.50
€18.41
+60.1%
19.6%€26.24€13.12n/a9
Apr ’25€11.61
€18.20
+56.7%
19.6%€25.76€12.88n/a9
Mar ’25€13.49
€20.30
+50.5%
13.7%€25.84€17.53n/a7
Feb ’25€13.57
€19.48
+43.5%
8.8%€21.91€17.35n/a6
Jan ’25€15.40
€19.75
+28.3%
9.6%€22.15€17.54n/a5
Dec ’24€14.45
€19.86
+37.4%
10.7%€22.43€17.75n/a4
Nov ’24€14.43
€20.72
+43.6%
9.8%€22.61€17.90€11.703
Oct ’24€25.51
€30.85
+20.9%
12.7%€37.40€26.18€12.605
Sep ’24€28.27
€29.73
+5.2%
11.4%€36.35€25.44€12.407
Aug ’24€24.34
€28.94
+18.9%
10.1%€33.91€23.83€13.707
Jul ’24€22.86
€28.92
+26.5%
9.7%€33.57€23.59€11.508
Jun ’24€22.12
€28.92
+30.7%
9.7%€33.57€23.59€12.008
May ’24€19.69
€29.64
+50.5%
10.5%€34.54€23.34€11.508
Apr ’24€21.03
€29.64
+41.0%
10.5%€34.54€23.34€11.618
Mar ’24€23.98
€29.64
+23.6%
10.5%€34.54€23.34€13.498
Feb ’24€25.04
€28.30
+13.1%
11.9%€33.16€22.74€13.578
Jan ’24€21.73
€28.30
+30.3%
11.9%€33.16€22.74€15.408
Dec ’23€22.75
€29.14
+28.1%
11.9%€34.72€23.81€14.458
Nov ’23€21.49
€29.14
+35.6%
11.9%€34.72€23.81€14.438

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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