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NORTHERN DATA AG (NB2.DE) Stock Fundamental Analysis

FRA:NB2 - Deutsche Boerse Ag - DE000A0SMU87 - Common Stock - Currency: EUR

22.52  +0.18 (+0.81%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to NB2. NB2 was compared to 99 industry peers in the Software industry. NB2 may be in some trouble as it scores bad on both profitability and health. NB2 shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year NB2 has reported negative net income.
In the past year NB2 has reported a negative cash flow from operations.
NB2 had negative earnings in 4 of the past 5 years.
In multiple years NB2 reported negative operating cash flow during the last 5 years.
NB2.DE Yearly Net Income VS EBIT VS OCF VS FCFNB2.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M -600M -800M -1B

1.2 Ratios

NB2's Return On Assets of -5.08% is on the low side compared to the rest of the industry. NB2 is outperformed by 65.66% of its industry peers.
Looking at the Return On Equity, with a value of -10.03%, NB2 is doing worse than 65.66% of the companies in the same industry.
Industry RankSector Rank
ROA -5.08%
ROE -10.03%
ROIC N/A
ROA(3y)-27.09%
ROA(5y)-12.41%
ROE(3y)-36.56%
ROE(5y)-22.1%
ROIC(3y)N/A
ROIC(5y)N/A
NB2.DE Yearly ROA, ROE, ROICNB2.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200 -400 -600

1.3 Margins

The Gross Margin of NB2 (37.20%) is worse than 70.71% of its industry peers.
In the last couple of years the Gross Margin of NB2 has grown nicely.
The Profit Margin and Operating Margin are not available for NB2 so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 37.2%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y9.08%
GM growth 5YN/A
NB2.DE Yearly Profit, Operating, Gross MarginsNB2.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50K -100K

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3

2. Health

2.1 Basic Checks

NB2 does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, NB2 has more shares outstanding
NB2 has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, NB2 has a worse debt to assets ratio.
NB2.DE Yearly Shares OutstandingNB2.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
NB2.DE Yearly Total Debt VS Total AssetsNB2.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

Based on the Altman-Z score of 1.79, we must say that NB2 is in the distress zone and has some risk of bankruptcy.
NB2's Altman-Z score of 1.79 is on the low side compared to the rest of the industry. NB2 is outperformed by 61.62% of its industry peers.
NB2 has a Debt/Equity ratio of 0.82. This is a neutral value indicating NB2 is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.82, NB2 is not doing good in the industry: 74.75% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF N/A
Altman-Z 1.79
ROIC/WACCN/A
WACC7.67%
NB2.DE Yearly LT Debt VS Equity VS FCFNB2.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

2.3 Liquidity

A Current Ratio of 2.69 indicates that NB2 has no problem at all paying its short term obligations.
NB2's Current ratio of 2.69 is amongst the best of the industry. NB2 outperforms 82.83% of its industry peers.
A Quick Ratio of 2.69 indicates that NB2 has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.69, NB2 belongs to the top of the industry, outperforming 82.83% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.69
Quick Ratio 2.69
NB2.DE Yearly Current Assets VS Current LiabilitesNB2.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

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7

3. Growth

3.1 Past

NB2 shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -480.00%.
Looking at the last year, NB2 shows a very strong growth in Revenue. The Revenue has grown by 61.65%.
Measured over the past years, NB2 shows a very strong growth in Revenue. The Revenue has been growing by 81.52% on average per year.
EPS 1Y (TTM)-480%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-413.7%
Revenue 1Y (TTM)61.65%
Revenue growth 3Y1.8%
Revenue growth 5Y81.52%
Sales Q2Q%72.47%

3.2 Future

Based on estimates for the next years, NB2 will show a very strong growth in Earnings Per Share. The EPS will grow by 38.36% on average per year.
The Revenue is expected to grow by 23.74% on average over the next years. This is a very strong growth
EPS Next Y123.88%
EPS Next 2Y66.57%
EPS Next 3Y38.36%
EPS Next 5YN/A
Revenue Next Year100.79%
Revenue Next 2Y62.12%
Revenue Next 3Y42.15%
Revenue Next 5Y23.74%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
NB2.DE Yearly Revenue VS EstimatesNB2.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 200M 400M 600M
NB2.DE Yearly EPS VS EstimatesNB2.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2018 2020 2021 2022 2023 2024 2025 2026 2027 0 -2 -4

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for NB2. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 46.26, which means the current valuation is very expensive for NB2.
The rest of the industry has a similar Price/Forward Earnings ratio as NB2.
NB2's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 35.34.
Industry RankSector Rank
PE N/A
Fwd PE 46.26
NB2.DE Price Earnings VS Forward Price EarningsNB2.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NB2 is valued a bit cheaper than the industry average as 69.70% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 16.17
NB2.DE Per share dataNB2.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 -10 -15

4.3 Compensation for Growth

NB2's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as NB2's earnings are expected to grow with 38.36% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y66.57%
EPS Next 3Y38.36%

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0

5. Dividend

5.1 Amount

NB2 does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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NORTHERN DATA AG

FRA:NB2 (7/16/2025, 1:17:26 PM)

22.52

+0.18 (+0.81%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)03-20 2025-03-20/amc
Earnings (Next)08-02 2025-08-02
Inst Owners2.82%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.45B
Analysts82.22
Price Target44.06 (95.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-1.37%
PT rev (3m)-9.53%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-15.07%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-18.24%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 46.26
P/S 88.28
P/FCF N/A
P/OCF N/A
P/B 1.72
P/tB 1.8
EV/EBITDA 16.17
EPS(TTM)-7.25
EYN/A
EPS(NY)0.49
Fwd EY2.16%
FCF(TTM)-16.3
FCFYN/A
OCF(TTM)-0.91
OCFYN/A
SpS0.26
BVpS13.08
TBVpS12.51
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -5.08%
ROE -10.03%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 37.2%
FCFM N/A
ROA(3y)-27.09%
ROA(5y)-12.41%
ROE(3y)-36.56%
ROE(5y)-22.1%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y9.08%
GM growth 5YN/A
F-Score3
Asset Turnover0.01
Health
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF N/A
Debt/EBITDA 5.51
Cap/Depr 634.09%
Cap/Sales 6034.22%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.69
Quick Ratio 2.69
Altman-Z 1.79
F-Score3
WACC7.67%
ROIC/WACCN/A
Cap/Depr(3y)253.84%
Cap/Depr(5y)454.19%
Cap/Sales(3y)224.19%
Cap/Sales(5y)422.44%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-480%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-413.7%
EPS Next Y123.88%
EPS Next 2Y66.57%
EPS Next 3Y38.36%
EPS Next 5YN/A
Revenue 1Y (TTM)61.65%
Revenue growth 3Y1.8%
Revenue growth 5Y81.52%
Sales Q2Q%72.47%
Revenue Next Year100.79%
Revenue Next 2Y62.12%
Revenue Next 3Y42.15%
Revenue Next 5Y23.74%
EBIT growth 1Y-255.81%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year524.63%
EBIT Next 3Y102.34%
EBIT Next 5YN/A
FCF growth 1Y-801.61%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-232.15%
OCF growth 3YN/A
OCF growth 5YN/A