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NEURONES (NRO.PA) Stock Fundamental Analysis

EPA:NRO - Euronext Paris - Matif - FR0004050250 - Common Stock - Currency: EUR

45.575  +0.28 (+0.61%)

Fundamental Rating

6

Taking everything into account, NRO scores 6 out of 10 in our fundamental rating. NRO was compared to 71 industry peers in the IT Services industry. Both the health and profitability get an excellent rating, making NRO a very profitable company, without any liquidiy or solvency issues. NRO is quite expensive at the moment. It does show a decent growth rate. These ratings would make NRO suitable for quality investing!


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year NRO was profitable.
NRO had a positive operating cash flow in the past year.
In the past 5 years NRO has always been profitable.
In the past 5 years NRO always reported a positive cash flow from operatings.
NRO.PA Yearly Net Income VS EBIT VS OCF VS FCFNRO.PA 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 20M 40M 60M

1.2 Ratios

Looking at the Return On Assets, with a value of 7.14%, NRO is in the better half of the industry, outperforming 78.87% of the companies in the same industry.
NRO has a better Return On Equity (13.86%) than 61.97% of its industry peers.
NRO's Return On Invested Capital of 11.98% is amongst the best of the industry. NRO outperforms 80.28% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NRO is in line with the industry average of 10.92%.
Industry RankSector Rank
ROA 7.14%
ROE 13.86%
ROIC 11.98%
ROA(3y)7.05%
ROA(5y)6.56%
ROE(3y)13.14%
ROE(5y)11.88%
ROIC(3y)12.06%
ROIC(5y)11.15%
NRO.PA Yearly ROA, ROE, ROICNRO.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

Looking at the Profit Margin, with a value of 6.26%, NRO is in the better half of the industry, outperforming 74.65% of the companies in the same industry.
NRO's Profit Margin has improved in the last couple of years.
The Operating Margin of NRO (9.49%) is better than 73.24% of its industry peers.
NRO's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 99.91%, NRO belongs to the top of the industry, outperforming 97.18% of the companies in the same industry.
In the last couple of years the Gross Margin of NRO has remained more or less at the same level.
Industry RankSector Rank
OM 9.49%
PM (TTM) 6.26%
GM 99.91%
OM growth 3Y0.62%
OM growth 5Y1.52%
PM growth 3Y4.19%
PM growth 5Y4.71%
GM growth 3Y11.92%
GM growth 5Y0%
NRO.PA Yearly Profit, Operating, Gross MarginsNRO.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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8

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NRO is creating some value.
Compared to 1 year ago, NRO has more shares outstanding
The number of shares outstanding for NRO remains at a similar level compared to 5 years ago.
Compared to 1 year ago, NRO has a worse debt to assets ratio.
NRO.PA Yearly Shares OutstandingNRO.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M 20M
NRO.PA Yearly Total Debt VS Total AssetsNRO.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

2.2 Solvency

An Altman-Z score of 4.70 indicates that NRO is not in any danger for bankruptcy at the moment.
The Altman-Z score of NRO (4.70) is better than 88.73% of its industry peers.
NRO has a debt to FCF ratio of 1.09. This is a very positive value and a sign of high solvency as it would only need 1.09 years to pay back of all of its debts.
NRO has a Debt to FCF ratio of 1.09. This is amongst the best in the industry. NRO outperforms 81.69% of its industry peers.
A Debt/Equity ratio of 0.10 indicates that NRO is not too dependend on debt financing.
NRO's Debt to Equity ratio of 0.10 is amongst the best of the industry. NRO outperforms 87.32% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.1
Debt/FCF 1.09
Altman-Z 4.7
ROIC/WACC1.54
WACC7.78%
NRO.PA Yearly LT Debt VS Equity VS FCFNRO.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

2.3 Liquidity

A Current Ratio of 2.24 indicates that NRO has no problem at all paying its short term obligations.
NRO has a better Current ratio (2.24) than 92.96% of its industry peers.
A Quick Ratio of 2.24 indicates that NRO has no problem at all paying its short term obligations.
NRO has a better Quick ratio (2.24) than 92.96% of its industry peers.
Industry RankSector Rank
Current Ratio 2.24
Quick Ratio 2.24
NRO.PA Yearly Current Assets VS Current LiabilitesNRO.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

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5

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 1.00% over the past year.
Measured over the past years, NRO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 13.70% on average per year.
NRO shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.62%.
NRO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.63% yearly.
EPS 1Y (TTM)1%
EPS 3Y16.86%
EPS 5Y13.7%
EPS Q2Q%-3.75%
Revenue 1Y (TTM)9.62%
Revenue growth 3Y12.22%
Revenue growth 5Y8.63%
Sales Q2Q%9.15%

3.2 Future

NRO is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 1.49% yearly.
NRO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.70% yearly.
EPS Next Y-4.55%
EPS Next 2Y0%
EPS Next 3Y1.49%
EPS Next 5YN/A
Revenue Next Year8.98%
Revenue Next 2Y7.7%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
NRO.PA Yearly Revenue VS EstimatesNRO.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
NRO.PA Yearly EPS VS EstimatesNRO.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 22.90, which indicates a rather expensive current valuation of NRO.
Compared to the rest of the industry, the Price/Earnings ratio of NRO is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 26.70, NRO is valued at the same level.
The Price/Forward Earnings ratio is 20.51, which indicates a rather expensive current valuation of NRO.
NRO's Price/Forward Earnings ratio is in line with the industry average.
NRO's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.49.
Industry RankSector Rank
PE 22.9
Fwd PE 20.51
NRO.PA Price Earnings VS Forward Price EarningsNRO.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NRO is valued a bit cheaper than the industry average as 64.79% of the companies are valued more expensively.
63.38% of the companies in the same industry are cheaper than NRO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 25.79
EV/EBITDA 7.15
NRO.PA Per share dataNRO.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The decent profitability rating of NRO may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.67
EPS Next 2Y0%
EPS Next 3Y1.49%

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4

5. Dividend

5.1 Amount

NRO has a Yearly Dividend Yield of 2.84%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.87, NRO pays a bit more dividend than its industry peers.
NRO's Dividend Yield is a higher than the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 2.84%

5.2 History

The dividend of NRO is nicely growing with an annual growth rate of 78.87%!
Dividend Growth(5Y)78.87%
Div Incr Years2
Div Non Decr Years2
NRO.PA Yearly Dividends per shareNRO.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

NRO pays out 60.07% of its income as dividend. This is not a sustainable payout ratio.
NRO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP60.07%
EPS Next 2Y0%
EPS Next 3Y1.49%
NRO.PA Yearly Income VS Free CF VS DividendNRO.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M
NRO.PA Dividend Payout.NRO.PA Dividend Payout, showing the Payout Ratio.NRO.PA Dividend Payout.PayoutRetained Earnings

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NEURONES

EPA:NRO (5/20/2025, 12:36:19 PM)

45.575

+0.28 (+0.61%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)05-07 2025-05-07
Earnings (Next)08-06 2025-08-06
Inst Owners13.29%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.11B
Analysts84
Price Target61.2 (34.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.84%
Yearly Dividend1.1
Dividend Growth(5Y)78.87%
DP60.07%
Div Incr Years2
Div Non Decr Years2
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)0%
PT rev (3m)20%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 22.9
Fwd PE 20.51
P/S 1.43
P/FCF 25.79
P/OCF 17.8
P/B 3.16
P/tB 3.76
EV/EBITDA 7.15
EPS(TTM)1.99
EY4.37%
EPS(NY)2.22
Fwd EY4.88%
FCF(TTM)1.77
FCFY3.88%
OCF(TTM)2.56
OCFY5.62%
SpS31.92
BVpS14.41
TBVpS12.12
PEG (NY)N/A
PEG (5Y)1.67
Profitability
Industry RankSector Rank
ROA 7.14%
ROE 13.86%
ROCE 16.87%
ROIC 11.98%
ROICexc 29.89%
ROICexgc 43.61%
OM 9.49%
PM (TTM) 6.26%
GM 99.91%
FCFM 5.54%
ROA(3y)7.05%
ROA(5y)6.56%
ROE(3y)13.14%
ROE(5y)11.88%
ROIC(3y)12.06%
ROIC(5y)11.15%
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)16.84%
ROCE(5y)15.55%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y0.62%
OM growth 5Y1.52%
PM growth 3Y4.19%
PM growth 5Y4.71%
GM growth 3Y11.92%
GM growth 5Y0%
F-Score6
Asset Turnover1.14
Health
Industry RankSector Rank
Debt/Equity 0.1
Debt/FCF 1.09
Debt/EBITDA 0.38
Cap/Depr 108.82%
Cap/Sales 2.49%
Interest Coverage 250
Cash Conversion 68.13%
Profit Quality 88.5%
Current Ratio 2.24
Quick Ratio 2.24
Altman-Z 4.7
F-Score6
WACC7.78%
ROIC/WACC1.54
Cap/Depr(3y)72.03%
Cap/Depr(5y)62.53%
Cap/Sales(3y)1.72%
Cap/Sales(5y)1.61%
Profit Quality(3y)121.12%
Profit Quality(5y)146.24%
High Growth Momentum
Growth
EPS 1Y (TTM)1%
EPS 3Y16.86%
EPS 5Y13.7%
EPS Q2Q%-3.75%
EPS Next Y-4.55%
EPS Next 2Y0%
EPS Next 3Y1.49%
EPS Next 5YN/A
Revenue 1Y (TTM)9.62%
Revenue growth 3Y12.22%
Revenue growth 5Y8.63%
Sales Q2Q%9.15%
Revenue Next Year8.98%
Revenue Next 2Y7.7%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-0.22%
EBIT growth 3Y12.91%
EBIT growth 5Y10.27%
EBIT Next Year22.08%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y8.03%
FCF growth 3Y-3.45%
FCF growth 5Y17.54%
OCF growth 1Y31.57%
OCF growth 3Y2.32%
OCF growth 5Y18.33%