Added to YB: 2026-07-02
Pitch date: 2026-04-28
NETC.CO [bearish]
Netcompany Group A/S
+17.92%
current return
Author Info
No bio for this author
Company Info
Netcompany Group A/S, engages in the provision of IT solutions to private and public customers in Denmark, Norway, the United Kingdom, the Netherlands, Greece, Belgium, Luxembourg, and internationally.
Market Cap
DKK 13.4B
Pitch Price
DKK 371.60
Price Target
155.00 (-49%)
Dividend
N/A
EV/EBITDA
13.61
P/E
50.30
EV/Sales
2.03
Sector
IT Services
Category
value
Netcompany Group A/S - $NETC.CO (short)
NETC.CO (short): Danish IT consultant morphing from high-quality local to commoditized pan-EU roll-up via dilutive M&A (Intrasoft, SDC). GM down 1200bps to 28% since 2019. No AI pricing power despite hype. Poor guidance track record (cuts 3/4 yrs), 3x levered vs net-cash peers, buying back stock. Rumored €100M cycling sponsorship = 15-20% of EBIT/FCF. Trades 26x base-case 2027 EPS (DKK14 vs consensus DKK25). ~58% downside, FV DKK155. Catalysts: sponsorship announcement, guidance cuts. Works as pairs trade.
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