NB2 Fundamental Analysis - NORTHERN DATA AG

Fundamental Rating

Taking everything into account, NB2 scores 3 out of 10 in our fundamental rating. NB2 was compared to 116 industry peers in the Software industry. NB2 may be in some trouble as it scores bad on both profitability and health. NB2 is valued quite expensive, but it does show an excellent growth.

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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.

In the past 5 years NB2 reported 4 times negative net income.

In multiple years NB2 reported negative operating cash flow during the last 5 years.

1.2 Ratios

NB2 has a worse Return On Assets (-5.08%) than 70.69% of its industry peers.

NB2 has a Return On Equity of -10.03%. This is in the lower half of the industry: NB2 underperforms 67.24% of its industry peers.

		Industry Rank	Sector 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

1.3 Margins

NB2's Gross Margin of 37.20% is on the low side compared to the rest of the industry. NB2 is outperformed by 81.03% 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 Rank	Sector 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

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

NB2 does not have a ROIC to compare to the WACC, probably because it is not profitable.

NB2 has more shares outstanding than it did 1 year ago.

The number of shares outstanding for NB2 has been increased compared to 5 years ago.

Compared to 1 year ago, NB2 has a worse debt to assets ratio.

2.2 Solvency

NB2 has an Altman-Z score of 1.43. This is a bad value and indicates that NB2 is not financially healthy and even has some risk of bankruptcy.

NB2 has a worse Altman-Z score (1.43) than 68.10% 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.

NB2 has a Debt to Equity ratio of 0.82. This is in the lower half of the industry: NB2 underperforms 75.86% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.82
Debt/FCF	N/A
Altman-Z	1.43

ROIC/WACCN/A

WACC7.38%

2.3 Liquidity

A Current Ratio of 2.69 indicates that NB2 has no problem at all paying its short term obligations.

NB2 has a Current ratio of 2.69. This is amongst the best in the industry. NB2 outperforms 83.62% of its industry peers.

A Quick Ratio of 2.69 indicates that NB2 has no problem at all paying its short term obligations.

With an excellent Quick ratio value of 2.69, NB2 belongs to the best of the industry, outperforming 83.62% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	2.69
Quick Ratio	2.69

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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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%.

The Revenue has grown by 61.65% in the past year. This is a very strong growth!

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

The Earnings Per Share is expected to grow by 29.04% on average over the next years. This is a very strong growth

The Revenue is expected to grow by 23.74% on average over the next years. This is a very strong growth

EPS Next Y-21.37%

EPS Next 2Y22.06%

EPS Next 3Y29.04%

EPS Next 5YN/A

Revenue Next Year13.21%

Revenue Next 2Y38.36%

Revenue Next 3Y34.68%

Revenue Next 5Y23.74%

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.

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4. Valuation

4.1 Price/Earnings Ratio

NB2 reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

Also next year NB2 is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NB2 is valued a bit cheaper than the industry average as 75.86% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	12.24

4.3 Compensation for Growth

A more expensive valuation may be justified as NB2's earnings are expected to grow with 29.04% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y22.06%

EPS Next 3Y29.04%

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5. Dividend

5.1 Amount

No dividends for NB2!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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NORTHERN DATA AG

FRA:NB2 (12/5/2025, 7:00:00 PM)

14.41

-0.19 (-1.3%)

Chartmill FA Rating

GICS SectorInformation Technology

GICS IndustryGroupSoftware & Services

GICS IndustrySoftware

Earnings (Last)10-16 2025-10-16

Earnings (Next)03-26 2026-03-26/amc

Inst Owners1.81%

Inst Owner ChangeN/A

Ins OwnersN/A

Ins Owner ChangeN/A

Market Cap925.12M

Revenue(TTM)16.38M

Net Income(TTM)-84.26M

Analysts80

Price Target32.23 (123.66%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector 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)-7.06%

PT rev (3m)-13.66%

EPS NQ rev (1m)N/A

EPS NQ rev (3m)N/A

EPS NY rev (1m)-13.16%

EPS NY rev (3m)-87.02%

Revenue NQ rev (1m)N/A

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)-8.11%

Revenue NY rev (3m)-15.71%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	56.49
P/FCF	N/A
P/OCF	N/A
P/B	1.1
P/tB	1.15
EV/EBITDA	12.24

EPS(TTM)-7.25

EYN/A

EPS(NY)-2.47

Fwd EYN/A

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

Graham NumberN/A

Profitability

		Industry Rank	Sector 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

ROICexgc growth 3YN/A

ROICexgc 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 Rank	Sector 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	1.43

F-Score3

WACC7.38%

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 Y-21.37%

EPS Next 2Y22.06%

EPS Next 3Y29.04%

EPS Next 5YN/A

Revenue 1Y (TTM)61.65%

Revenue growth 3Y1.8%

Revenue growth 5Y81.52%

Sales Q2Q%72.47%

Revenue Next Year13.21%

Revenue Next 2Y38.36%

Revenue Next 3Y34.68%

Revenue Next 5Y23.74%

EBIT growth 1Y-255.81%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year333.37%

EBIT Next 3Y94.4%

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

NORTHERN DATA AG / NB2.DE FAQ

What is the ChartMill fundamental rating of NORTHERN DATA AG (NB2.DE) stock?

ChartMill assigns a fundamental rating of 3 / 10 to NB2.DE.

Can you provide the valuation status for NORTHERN DATA AG?

ChartMill assigns a valuation rating of 1 / 10 to NORTHERN DATA AG (NB2.DE). This can be considered as Overvalued.

What is the profitability of NB2 stock?

NORTHERN DATA AG (NB2.DE) has a profitability rating of 1 / 10.

What is the earnings growth outlook for NORTHERN DATA AG?

The Earnings per Share (EPS) of NORTHERN DATA AG (NB2.DE) is expected to decline by -21.37% in the next year.

NORTHERN DATA AG (NB2.DE) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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NORTHERN DATA AG / NB2.DE FAQ

What is the ChartMill fundamental rating of NORTHERN DATA AG (NB2.DE) stock?

Can you provide the valuation status for NORTHERN DATA AG?

What is the profitability of NB2 stock?

What is the earnings growth outlook for NORTHERN DATA AG?