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NCC Group plc
(LSE:NCC)
Select Model
Select Model
Rating:59Neutral
Price Target:
151.00 p
▲(7.09% Upside)
Action:Reiterated
Date:09/30/26
The score is held back primarily by weakening financial performance—declining revenue and negative operating margins—despite solid and improving free cash flow and a generally manageable balance sheet. Technicals are constructive (price above major moving averages and positive MACD), but valuation is a clear headwind due to the high P/E, partially offset by the dividend yield.
Positive Factors
Strong and improving free cash flow
Meaningful and improving free cash flow provides internally generated funding for investment, debt service, and shareholder returns. Its strong conversion relative to net income also indicates that recent reported earnings have been supported by substantial cash generation.
Negative Factors
Sharp and sustained revenue decline
The steep multi-year revenue contraction reduces operating scale and makes it harder to absorb fixed costs across the business. Unless demand and client engagement volumes recover, the shrinking revenue base can constrain investment capacity and weaken the foundation for durable earnings growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong and improving free cash flow
Meaningful and improving free cash flow provides internally generated funding for investment, debt service, and shareholder returns. Its strong conversion relative to net income also indicates that recent reported earnings have been supported by substantial cash generation.
Read all positive factors
NCC Group plc (NCC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£224.77M
Dividend Yield3.22%
Average Volume (3M)5.21M
Price to Earnings (P/E)48.3
Beta (1Y)0.75
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees1,800
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.03
Shares Outstanding164,360,140
10 Day Avg. Volume1,703,374
30 Day Avg. Volume5,207,553
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)2.08
Price to Sales (P/S)1.75
P/FCF Ratio9.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.08
Revenue Forecast (FY)£247.35M
NCC Group plc Business Overview & Revenue Model
Company Description
NCC Group plc engages in the cyber security and software resilience business in the United Kingdom, the Asian-Pacific, North America, and Europe. The company operates through two segments, Cyber Security and Escode. It offers incident readiness, c...
How the Company Makes Money
NCC Group primarily makes money by selling cybersecurity and software resilience services to organisations under (a) time-and-materials or fixed-scope professional services engagements and (b) recurring/retainer-style service arrangements. Key rev...
NCC Group plc Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | Sep 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 200.50M | 238.90M | 322.13M | 335.10M | 314.80M |
| Gross Profit | 56.50M | 68.40M | 96.40M | 109.40M | 112.90M |
| EBITDA | -10.30M | 13.90M | 7.58M | 24.50M | 54.60M |
| Net Income | 9.10M | 17.10M | -32.50M | -4.60M | 23.00M |
Balance Sheet | |||||
| Total Assets | 366.10M | 343.30M | 433.30M | 501.40M | 576.40M |
| Cash, Cash Equivalents and Short-Term Investments | 9.60M | 12.50M | 29.80M | 34.10M | 73.20M |
| Total Debt | 58.90M | 22.80M | 102.70M | 113.70M | 158.20M |
| Total Liabilities | 197.00M | 136.80M | 198.30M | 223.20M | 283.20M |
| Stockholders Equity | 169.10M | 206.50M | 235.00M | 278.20M | 293.20M |
Cash Flow | |||||
| Free Cash Flow | 36.80M | 28.80M | 20.20M | 24.80M | 46.60M |
| Operating Cash Flow | 41.20M | 33.50M | 26.40M | 32.10M | 54.80M |
| Investing Cash Flow | -4.90M | 56.30M | 2.60M | -6.30M | -161.20M |
| Financing Cash Flow | -106.80M | -90.80M | -47.40M | -67.30M | 61.80M |
NCC Group plc Technical Analysis
Positive
141.00
Price Trends
138.19
Positive
136.39
Positive
131.59
Positive
Market Momentum
1.66
Negative
59.97
Neutral
86.57
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NCC, the sentiment is Positive. The current price of 141 is above the 20-day moving average (MA) of 135.43, above the 50-day MA of 138.19, and above the 200-day MA of 131.59, indicating a bullish trend. The MACD of 1.66 indicates Negative momentum. The RSI at 59.97 is Neutral, neither overbought nor oversold. The STOCH value of 86.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:NCC.
NCC Group plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £460.79M | 16.58 | 53.53% | 6.21% | 7.66% | -6.78% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | £224.77M | 48.27 | 4.85% | 3.22% | ― | ― | |
58 Neutral | £824.00M | 272.29 | -17.84% | ― | 19.39% | 275.00% | |
54 Neutral | £333.87M | -4.57 | -14.39% | 3.01% | 0.82% | -997.08% | |
46 Neutral | £532.31M | -3.84 | -22.48% | ― | 22.20% | -684.42% |
* Technology Sector Average
GB:NCC
NCC Group plc
147.80
6.04
4.26%
GB:GBG
GB Group plc
149.80
-82.60
-35.54%
GB:ALFA
Alfa Financial Software plc
156.80
-67.85
-30.20%
GB:ATG
Auction Technology Group PLC
461.80
146.30
46.37%
GB:TRST
Trustpilot Group Plc
231.00
9.80
4.43%
NCC Group plc Corporate Events
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock in Ongoing Share Buyback
Positive
Sep 30, 2026
NCC Group plc has repurchased 289,897 ordinary shares of 1p each on 29 September 2026 at a price of 148 pence per share, executed through Peel Hunt LLP on the London Stock Exchange. The shares will be held in Treasury, bringing the total shares in...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock with Latest Share Buyback
Positive
Sep 28, 2026
NCC Group plc has continued its share buyback programme, repurchasing 50,000 ordinary shares at 142 pence each on 25 September 2026 through broker Peel Hunt. The company intends to hold these shares in treasury, leaving 167,476,010 ordinary shares...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock with Latest Share Buyback
Positive
Sep 25, 2026
NCC Group plc has continued to execute its previously announced share buyback programme, repurchasing 160,000 ordinary shares on 24 September 2026 through Peel Hunt LLP at a volume-weighted average price of 138.70 pence. The shares, bought within ...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock with Latest Share Buyback
Positive
Sep 24, 2026
NCC Group plc has continued its previously announced share buyback programme with the repurchase of 150,000 ordinary shares on 23 September 2026 at a price of 137 pence per share, executed via Peel Hunt LLP on the London Stock Exchange. The compan...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock with Targeted Share Buyback
Positive
Sep 23, 2026
NCC Group plc has repurchased 202,172 ordinary shares at a price of 135 pence per share as part of its previously announced share buyback programme, executing the transaction through Peel Hunt LLP. The company plans to hold these shares in treasur...
Regulatory Filings and Compliance
NCC Group Executives Increase Holdings Through Share Incentive Plan
Positive
Sep 18, 2026
NCC Group plc has disclosed that its chief executive officer Mike Maddison, chief financial officer Guy Ellis and chief marketing officer Angela Brown have each made monthly purchases of the company’s ordinary shares under the UK Share Incen...
Business Operations and StrategyStock Buyback
NCC Group Buys Back 200,000 Shares for Treasury as Part of Ongoing Programme
Positive
Sep 18, 2026
NCC Group plc has repurchased 200,000 ordinary shares at a price of 134.60 pence per share as part of its ongoing share buyback programme, executed through Peel Hunt LLP on 17 September 2026. The company plans to hold these shares in treasury, bri...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock Under Share Buyback Programme
Positive
Sep 17, 2026
NCC Group plc has continued executing its previously announced share buyback programme, purchasing 298,912 ordinary shares on 16 September 2026 through broker Peel Hunt LLP. The shares were acquired at prices between 132.90p and 133.80p, with a vo...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock Under Ongoing Share Buyback
Positive
Sep 16, 2026
NCC Group plc has repurchased 299,707 ordinary shares on 15 September 2026 via Peel Hunt LLP at a volume-weighted average price of 131.53 pence, with trades executed on the London market within a narrow price range. The shares will be held in trea...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock in Ongoing Share Buyback Programme
Positive
Sep 15, 2026
NCC Group plc has continued its recently announced share buyback programme with the repurchase of 301,117 ordinary shares on 14 September 2026 at a volume-weighted average price of 130.43 pence, with trades executed via Peel Hunt LLP on the London...
Business Operations and StrategyStock Buyback
NCC Group Adds 200,000 Shares to Treasury Under Ongoing Buyback Programme
Positive
Sep 14, 2026
NCC Group plc has continued executing its previously announced share buyback programme, purchasing 200,000 ordinary shares on 11 September 2026 via Peel Hunt LLP at a volume-weighted average price of 126.65 pence. The transaction fits into the com...
Business Operations and StrategyStock Buyback
NCC Group Boosts Treasury Stock with Latest Share Buyback
Positive
Sep 11, 2026
NCC Group plc has executed a share buyback transaction, purchasing 306,671 ordinary shares at prices between 127.60p and 128.80p, with a volume-weighted average price of 127.99p. The shares, acquired through Peel Hunt LLP on 10 September 2026, wil...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock with Latest Share Buyback
Positive
Sep 10, 2026
NCC Group plc, a UK-based cyber security and risk mitigation provider, offers consulting, testing and managed security services to organisations that need to safeguard critical information systems. Its business is geared toward helping clients man...
Business Operations and StrategyStock Buyback
NCC Group Adds to Treasury Stock with Targeted Share Buyback
Positive
Sep 9, 2026
NCC Group plc has executed a share buyback transaction, purchasing 307,798 ordinary shares on 8 September 2026 via Peel Hunt LLP at a volume-weighted average price of 136.98 pence. The shares, bought within a price range of 135.00 to 137.60 pence,...
Business Operations and StrategyStock Buyback
NCC Group Launches Share Buyback, Adds Shares to Treasury
Positive
Sep 8, 2026
NCC Group plc has initiated a share buyback under a newly announced programme, purchasing 327,625 ordinary shares on 7 September 2026 via Peel Hunt LLP at a volume-weighted average price of 142.71 pence. The shares, bought within a tight price ran...
Business Operations and StrategyStock BuybackM&A Transactions
NCC Group Launches £15m Share Buyback After Escode Sale
Positive
Sep 7, 2026
NCC Group plc has launched a share buyback programme of up to £15 million, or a maximum of 16,724,556 ordinary shares, following the completion of its recent tender offer and the sale of its Escode business. The initiative, to be executed by ...
Business Operations and StrategyStock Buyback
NCC Group Returns £170m via Tender Offer and Plans Additional Buyback
Positive
Sep 2, 2026
NCC Group plc has completed a sizeable tender offer, buying back 117,241,379 ordinary shares at 145 pence each, equivalent to about 41.2% of its issued share capital as of the record date. The transaction returns roughly £170 million to share...
Executive/Board Changes
NCC Group Announces Board and Audit Committee Changes
Neutral
Aug 27, 2026
NCC Group plc has announced a board change, with independent non-executive director Mike Ettling stepping down after nine years of service effective 30 September 2026. His departure triggers a shift in committee responsibilities, as he will also l...
Business Operations and StrategyRegulatory Filings and Compliance
NCC Group Executives Add to Holdings Through Share Incentive Plan
Positive
Aug 18, 2026
NCC Group plc, a London-listed cyber and software resilience firm, provides security assurance services to organisations seeking to protect critical systems and data. Its ordinary shares of 1 pence each trade on the London Stock Exchange, and seni...
Regulatory Filings and Compliance
NCC Group Discloses Share Sale by Chief Marketing Officer
Neutral
Aug 5, 2026
NCC Group plc has disclosed that its Chief Marketing Officer and person discharging managerial responsibilities, Angela Brown, has sold ordinary shares in the company. The transactions, conducted on 4 August 2026 on the London Stock Exchange, invo...
Regulatory Filings and Compliance
NCC Group Confirms Total Voting Share Capital
Neutral
Jul 31, 2026
NCC Group plc has confirmed that its issued ordinary share capital currently comprises 284,631,323 ordinary shares with a nominal value of 1 pence each, all carrying voting rights. This disclosure clarifies the company’s equity base for inve...
Business Operations and StrategyExecutive/Board Changes
NCC Group grants long-term share options to senior executives
Positive
Jul 30, 2026
NCC Group plc has awarded share options to three senior executives under its Sharesave Plan, signalling continued use of equity-based incentives to align leadership with long-term performance. Chief Financial Officer Guy Ellis, Chief Marketing Off...
Business Operations and StrategyStock BuybackShareholder Meetings
NCC Group Wins Shareholder Backing for Capital Return and Buyback Plans
Positive
Jul 23, 2026
NCC Group plc shareholders have approved all special resolutions at a general meeting held in London, including the cancellation of £225 million from the company’s share premium account. Investors also backed authorisations allowing dir...
Business Operations and StrategyRegulatory Filings and Compliance
NCC Group Executives Add Shares Under UK Incentive Plan
Positive
Jul 22, 2026
NCC Group plc is a U.K.-listed provider of cyber security and risk assurance services, focused on helping organisations secure their digital assets and manage technology-related threats. The group’s operations and shares are centred on the L...
Business Operations and Strategy
Siemens and NCC Group join forces to bolster UK critical infrastructure cyber security
Positive
Jul 15, 2026
Siemens and NCC Group have signed a Memorandum of Understanding to collaborate on strengthening cyber security across UK critical national infrastructure, with a particular focus on operational technology and converged IT-OT environments. The part...
Business Operations and StrategyStock BuybackM&A Transactions
NCC Group launches £185m capital return via tender offer and buyback
Positive
Jul 7, 2026
NCC Group is moving to return significant capital to investors after completing the £253 million sale of its Escode division, following an initial £40 million buyback earlier this year. The company plans to cancel its share premium accou...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.