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NTT GPW Periodic report · PAP Biznes

NTT System SA (NTT) · Q1 2026 results and valuation

Share price: 35.70 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 29 May 2026 and 16 May 2025

Net income up 21.4% year on year. The report's language is unchanged.

Only a basic analysis is available for this company at the moment.

1 · Numbers

+21.4%

Net income vs Q1 2025

Net income 7.0M vs 5.8M

Revenue +14.4%

2 · How the report reads

Unchanged

Language tone vs last period

Report language: typical for a company report — about as upbeat as in Q1 2025.

Weak signal: formal report language, not a call.

3 · What stood out Nothing unusual flagged this period.

Valuation

Is NTT System SA undervalued?

Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.

At 10.0% growth a year (the standard assumption), the model's fair value is 13.60 zł a share — the stock trades 162% above it. Today's price assumes 22.2% growth a year.

Current price

35.70 zł

close of 2026-11-10

Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.

+22.2% for 10 yrs

Fair value / share

13.60 zł

Buy below

10.20 zł

Price vs fair value

Overvalued 162%

Price vs buy-below price

Overvalued >200%

Official channels

The company's own website and social media accounts.

Read between the lines

No major shifts flagged this period.

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q1 2026. Ring: Q1 2025.

Report language Typical (was typical)

Typical for a company report — about as upbeat as in Q1 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“The Capital Group, by delivering IT products to the recipient, bears the risk of liability for damages caused by a defective product, for which the supplier of the Capital Group's components is not liable and which may have a negative impact...”
“Furthermore, there is a risk that new technological solutions, the creation or development of which the Capital Group is currently or will be working on in the future, may not achieve the expected parameters, which would have a negative impact on the ability...”
“There is a risk that the product's selling price may not cover production costs due to a significant decline in the market price of the components used in production.”

Full figures

PLN · PAP Biznes report (2026-05-29)

Metric Q1 2026 Q1 2025 Change
Revenue 288.4M 252.1M +14.4%
Gross profit 24.2M 22.1M +9.5%
Operating income 11.6M 6.3M +85.4%
Net income 7.0M 5.8M +21.4%
EPS 0.52 0.43 +20.9%
P/E today 7.9 5.1 7.5 −2.4

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • Complete and detailed financial information describing the activities of the entire Group are contained in the main part of this report.
  • Interest income is accrued on a cumulative basis over time, based on the outstanding principal amount and taking into account the effective…
  • Adjustments: (Increase) / decrease of trade receivables and other receivables
  • Valuations are performed by applying the effective interest rate method to the gross carrying amount of the financial asset item, except…
  • I also inform you that, in connection with the settlement reached, I will transfer a further 312,500 shares to Barbara Kurek over the next…

Faded since Q1 2025

  • Fading Other financial liabilities primarily include loans and borrowings taken and liabilities for supplies and services.
  • Fading This condition is considered fulfilled only when the occurrence of the sale transaction is highly probable.

Latest announcements

Official filings, newest first.

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