Announcement • Jun 10
Novabase S.G.P.S., S.A. to Report First Half, 2026 Results on Jul 30, 2026 Novabase S.G.P.S., S.A. announced that they will report first half, 2026 results on Jul 30, 2026 New Risk • May 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 151% Cash payout ratio: 243% Minor Risk Large one-off items impacting financial results. Reported Earnings • May 05
Full year 2025 earnings released: EPS: €0.27 (vs €0.17 in FY 2024) Full year 2025 results: EPS: €0.27 (up from €0.17 in FY 2024). Revenue: €124.5m (down 7.2% from FY 2024). Net income: €9.72m (up 81% from FY 2024). Profit margin: 7.8% (up from 4.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Apr 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.0% per year over the past 5 years. High level of non-cash earnings (34% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jan 20
Novabase S.G.P.S., S.A. to Report Fiscal Year 2025 Results on Feb 25, 2026 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2025 results After-Market on Feb 25, 2026 Buy Or Sell Opportunity • Dec 03
Now 20% undervalued Over the last 90 days, the stock has risen 11% to €8.65. The fair value is estimated to be €10.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Buy Or Sell Opportunity • Nov 18
Now 21% undervalued Over the last 90 days, the stock has risen 8.9% to €8.60. The fair value is estimated to be €10.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Buy Or Sell Opportunity • Oct 23
Now 21% undervalued Over the last 90 days, the stock has risen 8.8% to €8.65. The fair value is estimated to be €10.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.5%. Reported Earnings • Aug 06
First half 2025 earnings released: EPS: €0.12 (vs €0.084 in 1H 2024) First half 2025 results: EPS: €0.12 (up from €0.084 in 1H 2024). Revenue: €62.2m (down 5.7% from 1H 2024). Net income: €4.31m (up 88% from 1H 2024). Profit margin: 6.9% (up from 3.5% in 1H 2024). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €8.50, the stock trades at a trailing P/E ratio of 56.3x. Average trailing P/E is 26x in the IT industry in the United Kingdom. Total returns to shareholders of 139% over the past three years. Buy Or Sell Opportunity • Jun 05
Now 20% undervalued Over the last 90 days, the stock has risen 17% to €8.55. The fair value is estimated to be €10.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 35%. Declared Dividend • May 29
Dividend reduced to €1.35 Dividend of €1.35 is 25% lower than last year. Ex-date: 5th June 2025 Payment date: 23rd June 2025 Dividend yield will be 14%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 7x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 44% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 774% to bring the payout ratio under control. However, EPS has declined by 6.7% over the last 5 years so the company would need to reverse this trend. Announcement • May 28
Novabase S.G.P.S., S.A. announces Annual dividend, payable on June 23, 2025 Novabase S.G.P.S., S.A. announced Annual dividend of EUR 1.3500 per share payable on June 23, 2025, ex-date on June 05, 2025 and record date on June 06, 2025. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €9.70, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 21x in the IT industry in the United Kingdom. Total returns to shareholders of 137% over the past three years. Buy Or Sell Opportunity • Feb 22
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to €7.20. The fair value is estimated to be €5.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €7.25, the stock trades at a trailing P/E ratio of 61.2x. Average trailing P/E is 24x in the IT industry in the United Kingdom. Total returns to shareholders of 55% over the past year. Announcement • Feb 20
Novabase S.G.P.S., S.A. to Report First Half, 2025 Results on Jul 31, 2025 Novabase S.G.P.S., S.A. announced that they will report first half, 2025 results on Jul 31, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 44% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 14x earnings per share. Dividend per share is over 6x cash flows per share. Earnings have declined by 9.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Announcement • Jan 07
Novabase S.G.P.S., S.A. to Report Fiscal Year 2024 Results on Feb 20, 2025 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2024 results After-Market on Feb 20, 2025 Reported Earnings • Oct 01
First half 2024 earnings released: EPS: €0.084 (vs €0.07 in 1H 2023) First half 2024 results: EPS: €0.084 (up from €0.07 in 1H 2023). Revenue: €65.9m (up 1.2% from 1H 2023). Net income: €2.30m (up 19% from 1H 2023). Profit margin: 3.5% (up from 3.0% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 05
First half 2024 earnings released: EPS: €0.081 (vs €0.16 in 1H 2023) First half 2024 results: EPS: €0.081 (down from €0.16 in 1H 2023). Revenue: €66.7m (down 25% from 1H 2023). Net income: €2.30m (down 47% from 1H 2023). Profit margin: 3.4% (down from 4.9% in 1H 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Aug 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 15x earnings per share. Cash payout ratio: 367% Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). Shareholders have been diluted in the past year (44% increase in shares outstanding). New Risk • Jun 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 15x earnings per share. Cash payout ratio: 271% Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (4.3% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €6.25, the stock trades at a trailing P/E ratio of 54.7x. Average trailing P/E is 29x in the IT industry in the United Kingdom. Total returns to shareholders of 95% over the past three years. Buy Or Sell Opportunity • Feb 18
Now 35% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €6.02. The fair value is estimated to be €4.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Feb 16
Full year 2023 earnings released Full year 2023 results: Revenue: €133.0m (down 19% from FY 2022). Net income: €3.03m (down 55% from FY 2022). Profit margin: 2.3% (down from 4.1% in FY 2022). The decrease in margin was driven by lower revenue. Board Change • Nov 14
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 9 non-independent directors. CFO & Director Francisco Paulo Figueiredo Antunes was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Reported Earnings • Sep 25
First half 2023 earnings released: EPS: €0.16 (vs €0.15 in 1H 2022) First half 2023 results: EPS: €0.16 (up from €0.15 in 1H 2022). Revenue: €88.9m (up 17% from 1H 2022). Net income: €4.32m (up 8.5% from 1H 2022). Profit margin: 4.9% (down from 5.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the IT industry in the United Kingdom. Board Change • Aug 23
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 9 non-independent directors. CFO & Director Francisco Paulo Figueiredo Antunes was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. New Risk • Aug 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Dividend is not well covered by cash flows (350% cash payout ratio). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Reported Earnings • Jul 31
First half 2023 earnings released: EPS: €0.16 (vs €0.14 in 1H 2022) First half 2023 results: EPS: €0.16 (up from €0.14 in 1H 2022). Revenue: €89.0m (up 17% from 1H 2022). Net income: €4.32m (up 8.5% from 1H 2022). Profit margin: 4.9% (down from 5.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Jul 31
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 9 non-independent directors. CFO & Director Francisco Paulo Figueiredo Antunes was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Board Change • May 18
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 9 non-independent directors. CFO & Director Francisco Paulo Figueiredo Antunes was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Buying Opportunity • Mar 28
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €5.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 48% in the next 2 years. Reported Earnings • Feb 19
Full year 2022 earnings released Full year 2022 results: Revenue: €163.9m (up 18% from FY 2021). Net income: €6.78m (down 11% from FY 2021). Profit margin: 4.1% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 16% growth forecast for the IT industry in the United Kingdom. Announcement • Feb 08
Novabase S.G.P.S., S.A. to Report Fiscal Year 2022 Results on Feb 16, 2023 Novabase S.G.P.S., S.A. announced that they will report fiscal year 2022 results After-Market on Feb 16, 2023 Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 03
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 17
First half 2022 earnings released: EPS: €0.13 (vs €0.10 in 1H 2021) First half 2022 results: EPS: €0.13 (up from €0.10 in 1H 2021). Revenue: €76.1m (up 13% from 1H 2021). Net income: €3.98m (up 23% from 1H 2021). Profit margin: 5.2% (up from 4.8% in 1H 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 16% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Sep 13
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 15
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Rita Wrem Viana Branquinho Lobo Rosado was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.