Added to YB: 2026-03-30
Pitch date: 2026-03-27
NCI.V [bullish]
NTG Clarity Networks Inc.
Author Info
No bio for this author
Company Info
NTG Clarity Networks Inc., together with its subsidiaries, provides network, telecom, IT, and infrastructure solutions to medium and large network service providers in Canada, North America, Iraq, Saudi Arabia, Egypt, and Oman.
Market Cap
CAD 44.4M
Pitch Price
N/A
Price Target
4.00 (+360%)
Dividend
N/A
EV/EBITDA
3.74
P/E
6.50
EV/Sales
0.57
Sector
Software
Category
value
How can the significant undervaluation of NTG Clarity Networks be explained?
NCI.V: 95% rev from Saudi Vision 2030 ($1.3T investment), 60% 3yr rev CAGR (market 8.5%). Egypt offshore model = 50% cost discount vs onsite w/ higher margins. NTGapps software rev +1,600% YoY Q2'25, now 21% of total. FY24 rev +102% to $56M, NI +326% to $9.9M. $88M backlog (2x mkt cap), $50M on 3yr contracts. 90% retention, 54% expand. Trading $0.93 vs $2.20 July'25 raise (-58% discount), 6x P/E, 0.21 PEG. Analyst PT $3.30-$3.60 (+255-287%). Risks: 95% Saudi concentration, tax normalization, margin compression from reinvestment, TSXV liquidity. Iraq/UAE expansion underway.
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