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NaaS Technology Inc. Sponsored ADR

NAAS Consumer Cyclical Specialty Retail

NaaS Technology Inc. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $17.9 million, down 35.0% from fiscal 2024.

Revenue
−36.0%
EPS
+5.85%
Free cash flow
−165.5%

Quarter to December 2024, against a year earlier

2.35 0.08 −3.29%
Market cap
$58.6M
P/E
0.0×
Fwd P/E
0.0×
Dividend yield
—
F-score
4/9
Altman Z
−44.68
Beneish M
−9.85
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 58.56
Revenue ttm 38.48
Net income ttm (75.99)
Free cash flow ttm (222.68)
Net debt Q 73.14
Valuation
P/E 0.00
Forward P/E 0.00
Price / sales 0.21
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.19 (below 1: weak)
Debt / equity Q (0.64) (negative: negative equity)
Interest coverage Q (20.64)
Growth
Revenue growth Q −35.99% (below 0%: shrinking)
Operating income growth Q +55.63% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A +2,050.35% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +24.57% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.1×, against a ten-year median of 6.4×; over the ten years it ranged from 0.5× in 2022 to 628× in 2023.
P/S against its own 10 years 2.51%
10-year low 10-year high
EV/Sales against its own 10 years 11.76%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 75 19 12 11
Receivables 10 6 3 3
Inventory 3 — 0 —
Other 11 — — —
161 60 31 31
2023 2024 2025 Q'26
Payables 21 14 33 35
ST’ Debt 49 139 72 77
Other — — 3 —
115 185 161 166

Compound Annual Growth %

10y 5y 3y
Sales — (34.36%) 9.96%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

EPS $

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — (5.16)
’24 (10.40) (5.71) (0.33) (21.84) (38.10)
’23 (5.60) (16.80) (17.60) (23.20) (64.80)
’22 — (31.20) (5.96) (6.32) (327.20)
’21 (28.00) (56.00) — — (272.00)
’20 (104.00) (60.00) 28.00 (9.54) (144.00)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 18
’24 13 13 6 6 28
’23 5 7 23 10 45
’22 — 2 4 4 13
’21 40 40 — — 5
’20 15 23 47 61 147
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 0
’24 — — — — (25)
’23 — — — — (80)
’22 — — — — (84)
’21 — — — — (85)
’20 — — — — (32)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 0
’24 — (26) — (99) (99)
’23 — (14) — (81) (81)
’22 — — — — (87)
’21 — — — — (85)
’20 — — — (37) (37)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 105 149 185 220 147 5 13 45 28 18 38 (17.8%) — — — —
Gross margin, % 48.86 53.34 54.67 54.58 37.09 11.56 6.64 27.73 44.06 85.92 31.53 +37.1 pt
EBT 12 0 31 31 (24) 39 (816) (184) (127) (61) (127) n/m
EBT margin, % 11.68 (0.07) 16.84 14.07 (16.40) 753.58 (6,063.10) (407.20) (461.34) (339.72) (330.13) (351.4) pt
Net income 8 (8) 21 21 (22) 39 (816) (184) (127) (64) (76) n/m
Per share, $
Per share, $ Revenue 837.68 1,171.19 1,299.08 1,529.88 1,040.30 36.74 5.58 15.96 8.37 1.47 11.37 (50.6%)
Earnings 60.00 (56.00) 148.00 148.00 (144.00) (272.00) (327.20) (64.80) (36.28) (5.16) (38.28) n/m
Cash flow 282.86 417.19 388.16 (39.87) (223.31) (599.87) (34.94) (28.18) (7.46) 0.01 (42.47) (69.7%)
Capex (51.34) (64.12) (75.47) (62.45) (40.03) 0.00 (1.03) (0.32) (22.55) 0.00 (23.33) n/m
Free cash flow 231.52 353.07 312.69 (102.32) (263.34) (599.87) (35.97) (28.50) (30.02) 0.01 (65.81) (69.0%)
Book value 469.42 357.33 450.26 624.48 544.33 (99.06) 26.41 (2.17) (31.42) (10.49) 0.00 n/m
Shares, m 0 0 0 0 0 0 2 3 3 12 3 +66.3%
Valuation, ×
Valuation, × P/E 332.20 297.60 86.05 73.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 78.9
P/S 0.00 0.00 9.80 7.31 9.37 0.60 87.83 28.87 2.81 0.30 0.21 14.7
P/B 0.00 0.00 28.29 17.91 17.90 1.68 68.72 0.00 0.00 0.00 0.00 13.4
EV/Sales 0.00 0.00 9.23 6.97 9.14 0.48 87.85 30.41 6.12 3.09 2.11 15.3
EV/FCF 0.00 0.00 0.00 15.82 51.38 3.45 166.13 (9.26) (1.03) (0.52) (0.36) 22.6
Cash, $m
Cash, $m Operating cash flow 35 53 55 (6) (32) (85) (84) (80) (25) 0 (144) (49.6%)
Capex (6) (8) (11) (9) (6) 0 (2) (1) (74) — (79) +35.8%
Free cash flow 29 45 45 (15) (37) (85) (87) (81) (99) 0 (223) (48.5%)
Balance, $m
Balance, $m Working capital (8) 17 18 (21) (65) 3 107 46 (125) (130) (135) +35.9%
Net debt (42) (71) (106) (74) (34) 16 (1) 69 127 72 73 n/m
Shareholders’ equity 59 45 64 90 77 (14) 64 (6) (103) (128) (131) n/m
Returns, %
Returns, % ROA 3.08 (2.82) 6.58 5.79 (5.24) (20.70) (989.78) (100.40) (84.70) (93.80) 0.00 (96.9) pt
ROIC 39.17 0.00 0.00 131.79 (30.84) (183.13) (358.74) (148.25) (180.09) 0.00 0.00 (39.2) pt
ROE 14.98 (14.15) 37.95 27.66 (24.37) (124.04) (3,292.95) (640.39) 228.67 54.35 0.00 +39.4 pt
People
People Employees 2,370 2,754 3,512 4,014 3,621 — 311 611 225 181 — (24.9%)
Revenue/emp, $m 0.04 0.05 0.05 0.05 0.04 0.00 0.04 0.07 0.12 0.10 — +9.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Dec 2024 · fundamentals updated 26 Oct 2026

NaaS Technology Inc. Sponsored ADR vs peers in Specialty Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ONEW OneWater Marine Inc. $159.7M — (loss-making) — (loss-making) −4.01% (below 0%: shrinking) +6.06% (above 0%: growing) −12.50% (below 0%: shrinking) 24.02% 6.72% Compare
ABLV Able View Global Inc. $140.8M 23.7× — — — −94.94% (below 0%: shrinking) — — Compare
HTLM HomesToLife Ltd $133.6M 8.3× — +8,826.32% (above 0%: growing) n/m −852.49% (below 0%: shrinking) 29.03% 5.24% Compare
GRWG GrowGeneration Corp. $88.4M — (loss-making) — (loss-making) +5.50% (above 0%: growing) n/m +126.60% (above 0%: growing) 28.51% (5.42%) Compare
BARK BARK, Inc. $73.4M — (loss-making) — (loss-making) −23.38% (below 0%: shrinking) n/m +40.58% (above 0%: growing) 72.74% 0.08% Compare
PTLE PTL Limited $60.4M — — — — — — — Compare
NAAS NaaS Technology Inc. Sponsored ADR $58.6M — (loss-making) — (loss-making) −35.99% (below 0%: shrinking) n/m −165.45% (below 0%: shrinking) 15.91% (398.93%)
SPWH Sportsman's Warehouse Holdings, Inc. $41.9M — (loss-making) — (loss-making) +0.57% (above 0%: growing) n/m +54.22% (above 0%: growing) 32.48% (0.38%) Compare
JBDI JBDI Holdings Limited $20.1M — — — — +82.28% (above 0%: growing) — — Compare
Median of peers $80.9M — — +0.57% — +40.58% 29.03% 0.08%

All 45 Specialty Retail stocks →

NaaS Technology Inc. Sponsored ADR (NAAS) Latest News

29 Sep

Impact 4 · · GlobeNewswire

28 Sep

Impact 3 · · GlobeNewswire

5 Aug

Impact 3 ·

20 Feb

Impact 4 · · PR NewswireMT NewswiresMT NewswiresMT NewswiresMT Newswires

23 Jan

Impact 4 ·
Impact 3 · · PR Newswire

31 Dec

Impact 4 · · PR NewswireMT NewswiresFreightWavesOffshore TechnologyCoinDeskSimply Wall St.

10 Dec

Impact 3 · · PR Newswire

10 Oct

Impact 3 · · PR NewswireMT NewswiresSimply Wall St.MT NewswiresMT NewswiresMT Newswires

27 Aug

Impact 4 · · PR Newswire

20 Jun

Impact 3 · · PR Newswire

8 May

Impact 4 · · PR Newswire

28 Apr

Impact 3 · · PR Newswire

24 Apr

Impact 3 · · PR Newswire

19 Mar

Impact 3 ·

17 Mar

Impact 4 ·

21 Feb

Impact 3 ·

6 Feb

Impact 4 · · PR Newswire

30 Jan

Impact 4 · · PR Newswire

16 Jan

Impact 4 ·

7 Jan

Impact 3 ·

6 Jan

Impact 3 ·

19 Dec

Impact 4 · · PR Newswire

12 Dec

Impact 4 · · PR Newswire

5 Dec

Impact 4 · · PR Newswire

4 Dec

Impact 3 · · PR Newswire

25 Nov

Impact 3 · · PR Newswire

22 Nov

Impact 3 · · Simply Wall St.

21 Nov

Impact 4 · earnings

20 Nov

Impact 3 ·
stockrow.com/NAAS · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com