Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
NCC Group plc is a global cyber and software resilience business operating across multiple sectors, geographies, and technologies. Founded in 1999 with roots tracing back to the UK's National Computing Centre, it specializes in assessing, developing, and managing cyber threats to safeguard businesses, software, and personal data. The company advises technology firms, manufacturers, financial institutions, critical national infrastructure providers, retailers, and governments on enhancing security in an increasingly connected world. NCC Group plc features two main divisions: a research-driven Assurance division focused on cyber security services like vulnerability assessments, incident response, managed detection, advisory, and threat intelligence; and the Escode division, a market-leading provider of software escrow and verification solutions that mitigate risks from third-party software dependencies. With over 2,000 professionals worldwide, it emphasizes values of collaboration, creativity, diversity, and responsibility, while prioritizing sustainability in people, planet, and governance. NCC Group plc plays a vital role in the financial markets as a key player in the IT services and consulting sector, delivering resilience solutions amid evolving cyber risks.
£1.29
+£0.00 (+0.31%)
EOD Jul 3, 2026
The business is unprofitable at the operating level (-3.35% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 28.7% YoY. Margins deteriorated 8.3pp alongside, both lines moving the wrong way.
ROIC dropped from 3.11% to -2.76%, capital efficiency is deteriorating. Operating margin contracted 8.3pp YoY, cost discipline may be slipping.
23.4x earnings, 14.1x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£239M
▼ -28.7% YoY
Net Income (TTM)
£17M
▲ +471.7% YoY
Op. Margin
-3.35%
▼ -8.3pp YoY
ROIC
-2.76%
▼ -5.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£28M
▲ +14.5% YoY
Op. Cash Flow (TTM)
£33M
▲ +15.3% YoY
Net Debt
£10M
Cash & Equiv.
£13M
3Y CAGR: -4.1%
3Y CAGR: -5.9%
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At a P/E of 23.4 and a price-to-free-cash-flow of 14.1, NCC Group (NCC.XLON) trades around a two-stage DCF intrinsic value of about £1.55 per share, so at £1.29 the stock looks around fair value (20.3% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, NCC Group scores 31/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.7%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about £1.55 per share for NCC.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around £1.16. At today's £1.29, that puts the stock about 20.3% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
NCC Group scores 31 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -3.3% operating margin and a -2.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, NCC Group pays a regular dividend of about £0.06 per share per year (typically in quarterly installments), a yield of roughly 4.7% at the current price. That is a payout ratio of about 111.1% of earnings, so the dividend is stretched at this level. NCC Group has grown the dividend at roughly 13.5% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For NCC.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. NCC.XLON currently trades around its estimated intrinsic value and scores 31/100 on quality (lower-quality). It also yields about 4.7%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.