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NCC Group plc
(LSE:NCC)
Select Model
Select Model
Rating:55Neutral
Price Target:
142.00 p
▼(-1.53% Downside)
Action:Reiterated
Date:06/30/26
Overall score is held back primarily by weakening financial performance (declining revenue and operating losses), partly cushioned by strong and improving free cash flow and a generally manageable balance sheet. Valuation is a secondary headwind due to the high P/E, while technicals cannot be validated due to missing indicator data.
Positive Factors
Strong free cash flow generation
Meaningful and improving free cash flow with high conversion versus net income provides durable internal funding. This cash strength supports debt paydown, reinvestment in security services, and cushions weaker operating profitability, preserving flexibility over the next 2–6 months.
Negative Factors
Revenue decline and operating losses
Sustained top-line contraction and consecutive operating losses signal deteriorating core business performance. This weakens operating leverage, raises execution risk for margin restoration, and makes underlying profitability dependent on non-operating items rather than durable operational improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Meaningful and improving free cash flow with high conversion versus net income provides durable internal funding. This cash strength supports debt paydown, reinvestment in security services, and cushions weaker operating profitability, preserving flexibility over the next 2–6 months.
Read all positive factors
NCC Group plc (NCC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£382.23M
Dividend Yield2.16%
Average Volume (3M)888.21K
Price to Earnings (P/E)46.4
Beta (1Y)0.77
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees2,152
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.03
Shares Outstanding284,261,540
10 Day Avg. Volume713,002
30 Day Avg. Volume888,210
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 Target
£150.00Price Target Upside4.02% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.05
Revenue Forecast (FY)£279.26M
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 primarily makes money by selling professional and managed cyber security services and software resilience/escrow services to organizations. Key revenue streams typically include: (1) Cyber security services delivered on a fee-for-service basis...
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 | 112.05M | 109.40M | 112.90M |
| EBITDA | -10.30M | 13.90M | 7.58M | 24.50M | 54.60M |
| Net Income | 9.10M | 17.10M | -24.90M | -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
144.20
Price Trends
134.80
Positive
128.62
Positive
133.98
Positive
Market Momentum
0.13
Negative
63.91
Neutral
90.12
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 144.2 is above the 20-day moving average (MA) of 128.42, above the 50-day MA of 134.80, and above the 200-day MA of 133.98, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 63.91 is Neutral, neither overbought nor oversold. The STOCH value of 90.12 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | £461.95M | 15.46 | 58.56% | 3.58% | 15.29% | 17.28% | |
64 Neutral | £999.53M | 181.85 | 64.11% | ― | 20.07% | 30.00% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | £483.23M | -6.72 | -14.39% | 1.73% | 0.82% | -997.08% | |
55 Neutral | £382.23M | 46.40 | 4.85% | 2.16% | ― | ― | |
53 Neutral | £486.78M | -6.11 | -18.96% | ― | 22.20% | -684.42% |
* Technology Sector Average
GB:NCC
NCC Group plc
139.20
-0.77
-0.55%
GB:GBG
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216.50
-17.86
-7.62%
GB:ALFA
Alfa Financial Software plc
157.00
-50.60
-24.37%
GB:ATG
Auction Technology Group PLC
408.20
-91.30
-18.28%
GB:TRST
Trustpilot Group Plc
265.80
13.60
5.39%
NCC Group plc Corporate Events
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...
Business Operations and Strategy
NCC Group joins OpenAI’s Daybreak program to test GPT-5.5 for cyber resilience
Positive
Jun 23, 2026
NCC Group has been chosen to join OpenAI’s invite-only Daybreak Cyber Partner Program, giving the UK-based cyber security firm early access to a specialised version of GPT-5.5 tailored for cyber resilience use cases. The collaboration will a...
Other
NCC Group Executives Add Shares Under UK Incentive Plan
Positive
Jun 18, 2026
NCC Group plc has reported routine share purchases by senior executives under the company’s UK Share Incentive Plan, signalling continued alignment between management and shareholders. Chief executive Mike Maddison, chief financial officer G...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
NCC Group Becomes Pure-Play Cyber Firm as Profits Rise and Cash Returned to Investors
Positive
Jun 11, 2026
NCC Group reported stronger interim results for the six months to 31 March 2026 as it completed its exit from non-core operations to become a focused cyber security provider. Cyber Security revenue rose 5.9% on a constant-currency basis to £1...
Business Operations and StrategyFinancial Disclosures
NCC Group Ends Cyber Strategic Review and Backs Standalone Listed Future
Positive
Jun 11, 2026
NCC Group has completed a strategic review of its Cyber business following a period of significant strategic and operational change, confirming its position as a focused, pure-play cyber security and resilience company. The board considered a rang...
Business Operations and StrategyM&A Transactions
NCC Group completes Escode sale and plans £185m capital return
Positive
May 29, 2026
NCC Group has completed the sale of its Escode business to private equity firm TDR Capital for an enterprise value of £275m, generating estimated net proceeds of about £253m and entering into a 12‑month transitional services agreem...
Other
NCC Group Executives Add Shares Through UK Incentive Plan
Positive
May 21, 2026
NCC Group has disclosed that Chief Executive Officer Mike Maddison, Chief Financial Officer Guy Ellis, Chief Marketing Officer Angela Brown and Escode Managing Director Jayesh Patel each acquired 121 ordinary shares in the company under its UK Sha...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
NCC Group Delivers H1 Profit Rebound as Escode Sale Nears Completion
Positive
Apr 30, 2026
NCC Group reported that first-half 2026 trading was in line with expectations, with constant-currency revenue up about 5% to £151.3m and improved gross margins across both its Cyber and Escode divisions. Adjusted EBITDA is expected to rise ne...
Executive/Board ChangesRegulatory Filings and Compliance
NCC Group Corrects CMO Share Grant and Confirms New Executive Awards
Neutral
Apr 22, 2026
NCC Group plc has issued a correction to a previous disclosure regarding its Restricted Share Plan, clarifying that Chief Marketing Officer Angela Brown was granted 124,627 ordinary shares, rather than the 120,512 initially reported. The revised f...
Other
NCC Group Executives Increase Holdings Through Share Incentive Plan
Positive
Apr 21, 2026
NCC Group has disclosed that several senior executives, including CEO Mike Maddison, CFO Guy Ellis, CMO Angela Brown and Escode managing director Jayesh Patel, have made small monthly purchases of ordinary shares under the company’s UK Share...
Business Operations and StrategyStock Buyback
NCC Group Completes Share Buyback and Updates Voting Rights
Positive
Apr 20, 2026
NCC Group plc, a UK-based cybersecurity and risk management specialist, provides assurance, software resilience, and managed security services to governments, enterprises, and other organisations. The company focuses on safeguarding critical infra...
Stock BuybackRegulatory Filings and Compliance
NCC Group Tightens Share Capital with Latest Buyback and Cancellation
Positive
Apr 17, 2026
NCC Group plc has repurchased 600,079 ordinary shares at a volume-weighted average price of 122.52 pence as part of its previously announced share buyback programme, with the shares to be cancelled, reducing the total number of shares in issue. Fo...
Executive/Board Changes
NCC Group Grants Restricted Share Awards to Three Senior Executives
Positive
Apr 16, 2026
NCC Group plc has granted restricted share awards to three senior executives under its Restricted Share Plan, reinforcing long-term incentives tied to their continued service with the company. Chief Marketing Officer Angela Brown, Chief Commercial...
Business Operations and StrategyStock Buyback
NCC Group Cancels Over 1 Million Shares in Ongoing Buyback Programme
Positive
Apr 16, 2026
NCC Group plc has repurchased 1,005,132 of its 1p ordinary shares on 15 April 2026 through Peel Hunt LLP, paying a volume-weighted average price of 119.15 pence, with prices ranging between 118.90 and 119.30 pence. The company intends to cancel th...
Stock BuybackRegulatory Filings and Compliance
NCC Group Cancels Over 1 Million Shares in Latest Buyback Move
Positive
Apr 16, 2026
NCC Group plc has executed a share buyback transaction, repurchasing 1,005,132 ordinary shares at a volume-weighted average price of 119.15 pence per share via Peel Hunt under its previously announced buyback programme. The company intends to canc...
Other
NCC Group Executives Increase Holdings Through Dividend Reinvestment and Share Plan
Positive
Apr 15, 2026
NCC Group has disclosed a series of director and senior management share transactions involving its chief executive, chief financial officer, chief marketing officer and other key managers. The trades, all conducted on the London Stock Exchange, w...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
NCC Group Advances Buyback With £1.18m Share Repurchase and Cancellation
Positive
Apr 15, 2026
NCC Group plc has repurchased 982,137 ordinary shares at 120p each as part of its ongoing share buyback programme conducted through Peel Hunt LLP and intends to cancel these shares, reducing its share capital. Following the cancellation, the group...
Stock BuybackRegulatory Filings and Compliance
NCC Group Cancels Shares After Buyback, Updates Voting Rights
Positive
Apr 14, 2026
NCC Group plc has repurchased 249,956 of its 1p ordinary shares at a price of 118p per share via broker Peel Hunt, as part of its previously announced share buyback programme. The company intends to cancel these shares, reducing the number of ordi...
Stock BuybackRegulatory Filings and Compliance
NCC Group Cancels Newly Repurchased Shares, Clarifies Voting Capital
Positive
Apr 13, 2026
NCC Group has repurchased 132,650 ordinary shares at a volume-weighted average price of 117.82 pence as part of its previously announced share buyback programme, with the trades executed through Peel Hunt on the London Stock Exchange. The company ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
NCC Group Buys Back and Cancels Shares Under Ongoing Capital Management Programme
Positive
Apr 10, 2026
NCC Group plc has repurchased 383,212 ordinary shares of 1 pence each on 9 April 2026 through Peel Hunt LLP, at a volume-weighted average price of 120.64 pence, with prices ranging between 118.40 pence and 121.40 pence per share. The company inten...
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.