Netcompany Group Valuation

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

NETC (DKK278) is trading below our estimate of [[fair value]] (DKK464.11)

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

Valuation Score

4/6

Valuation Score 4/6

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

Discounted Cash Flow

Simply Wall St

DKK 464.11

Fair Value

40.1% undervalued

Number of Analysts

Below Fair Value: NETC (DKK278) is trading below our estimate of fair value (DKK464.11)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NETC. This is calculated by dividing NETC's market cap by their current earnings.
What is NETC's PE Ratio?
PE Ratio	27.8x
Earnings	DKK 470.20m
Market Cap	DKK 13.83b

NETC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.5x
Enterprise Value/EBITDA	18.1x
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NETC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	29.2x
COLUM Columbus	43.1x	n/a	DKK 1.7b
TRIFOR Trifork Group	11.3x	14.2%	DKK 1.5b
DATA Dataproces Group	38.3x	n/a	DKK 193.2m
WIRTEK Wirtek	23.9x	n/a	DKK 59.0m
NETC Netcompany Group	27.8x	23.9%	DKK 13.8b

Price-To-Earnings vs Peers: NETC is good value based on its Price-To-Earnings Ratio (27.8x) compared to the peer average (29.2x).

Price to Earnings Ratio vs Industry

How does NETC's PE Ratio compare vs other companies in the European IT Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: NETC is expensive based on its Price-To-Earnings Ratio (27.8x) compared to the European IT industry average (17.7x).

Price to Earnings Ratio vs Fair Ratio

What is NETC'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.

NETC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	27.8x
Fair PE Ratio	32.7x

Price-To-Earnings vs Fair Ratio: NETC is good value based on its Price-To-Earnings Ratio (27.8x) compared to the estimated Fair Price-To-Earnings Ratio (32.7x).

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 NETC forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	DKK 278.00	DKK 326.11 +17.3%	8.5%	DKK 385.00	DKK 300.00	n/a	9
Jan ’26	DKK 339.00	DKK 346.14 +2.1%	12.2%	DKK 428.00	DKK 300.00	n/a	7
Dec ’25	DKK 351.60	DKK 340.29 -3.2%	9.4%	DKK 387.00	DKK 300.00	n/a	7
Nov ’25	DKK 318.20	DKK 333.14 +4.7%	9.5%	DKK 387.00	DKK 300.00	n/a	7
Oct ’25	DKK 309.00	DKK 323.00 +4.5%	8.0%	DKK 374.00	DKK 295.00	n/a	8
Sep ’25	DKK 305.80	DKK 310.44 +1.5%	13.4%	DKK 374.00	DKK 215.00	n/a	9
Aug ’25	DKK 286.60	DKK 301.78 +5.3%	12.2%	DKK 346.00	DKK 215.00	n/a	9
Jul ’25	DKK 304.00	DKK 303.00 -0.3%	12.6%	DKK 357.00	DKK 215.00	n/a	9
Jun ’25	DKK 300.80	DKK 301.33 +0.2%	12.5%	DKK 357.00	DKK 215.00	n/a	9
May ’25	DKK 257.20	DKK 281.56 +9.5%	13.3%	DKK 325.00	DKK 200.00	n/a	9
Apr ’25	DKK 285.00	DKK 275.67 -3.3%	15.0%	DKK 325.00	DKK 200.00	n/a	9
Mar ’25	DKK 300.00	DKK 275.67 -8.1%	15.0%	DKK 325.00	DKK 200.00	n/a	9
Feb ’25	DKK 279.40	DKK 265.56 -5.0%	14.1%	DKK 325.00	DKK 200.00	DKK 294.00	9
Jan ’25	DKK 225.60	DKK 257.22 +14.0%	13.2%	DKK 305.00	DKK 190.00	DKK 339.00	9
Dec ’24	DKK 217.20	DKK 256.11 +17.9%	13.4%	DKK 305.00	DKK 190.00	DKK 351.60	9
Nov ’24	DKK 225.60	DKK 284.69 +26.2%	13.0%	DKK 350.00	DKK 230.00	DKK 318.20	8
Oct ’24	DKK 268.70	DKK 280.00 +4.2%	14.7%	DKK 350.00	DKK 210.00	DKK 309.00	7
Sep ’24	DKK 260.20	DKK 280.00 +7.6%	14.7%	DKK 350.00	DKK 210.00	DKK 305.80	7
Aug ’24	DKK 316.90	DKK 314.88 -0.6%	20.9%	DKK 430.00	DKK 215.00	DKK 286.60	8
Jul ’24	DKK 282.40	DKK 313.63 +11.1%	21.6%	DKK 430.00	DKK 205.00	DKK 304.00	8
Jun ’24	DKK 281.50	DKK 313.63 +11.4%	21.6%	DKK 430.00	DKK 205.00	DKK 300.80	8
May ’24	DKK 262.00	DKK 313.31 +19.6%	21.7%	DKK 432.50	DKK 205.00	DKK 257.20	8
Apr ’24	DKK 249.20	DKK 314.88 +26.4%	22.5%	DKK 445.00	DKK 205.00	DKK 285.00	8
Mar ’24	DKK 242.80	DKK 314.88 +29.7%	22.5%	DKK 445.00	DKK 205.00	DKK 300.00	8
Feb ’24	DKK 275.00	DKK 338.43 +23.1%	20.0%	DKK 445.00	DKK 260.00	DKK 279.40	7

Analyst Price Target

Consensus Narrative from 9 Analysts

DKK 326.11

Fair Value

14.8% undervalued

Number of Analysts

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

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/03 16:28
End of Day Share Price	2025/02/03 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 here.

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 .

Analyst Sources

Netcompany Group A/S is covered by 13 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Orson Rout	Barclays
Orson Rout	Barclays