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NPN · JSE · South Africa · Technology
In shortNaspers is profitable, generates cash and carries moderate debt, with revenue growing (+51.1% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 2.6% | 25/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 45.8% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 21.9% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 0.7% | 5/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.40× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.75× | 70/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 3.48× | 15/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 0.42× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.78 | 69/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 12.9% | 71/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.28× | 0/100 |
| Years with positive free cash flow (last 5) | 3 of 4 | 69/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 4 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 3 | 100/100 |
| Revenue growth volatility | 23.9% | 23/100 |
| Operating margin volatility | 4.5% | 68/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 22.1% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | -32.6% | 0/100 |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Figures from the company's published annual accounts, as collected by Yahoo Finance, in the reporting currency.
Annual figures as reported. Hover a bar or point for the exact value.
The same model applied each year to the statements published at the time: the score is never recalculated with later information.
The last 4 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 5,960 | 6,431 | 7,181 | 10,848 |
| Cost of revenue | 4,085 | – | – | – |
| Gross profit | 1,875 | 2,465 | 2,892 | 4,821 |
| Selling, general & admin | 2,307 | 2,647 | 2,773 | 4,542 |
| Operating income | (432) | (182) | 119 | 286 |
| Interest expense | 569 | 585 | 586 | 685 |
| Pre-tax income | 9,698 | 6,986 | 12,564 | 11,704 |
| Income tax | 51 | 151 | 181 | 120 |
| Net income | 4,331 | 2,855 | 5,242 | 4,972 |
| Diluted EPS | $19.98 | $14.76 | $5.96 | $6.11 |
| Diluted shares (millions) | 1,042 | 187 | 855 | 786 |
3.78 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: Yahoo Finance. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Mar 31, 2026 · Data updated –