NOS SGPS (NOS.LS) Stock Fundamental Analysis

Europe • Euronext Lisbon • ELI:NOS • PTZON0AM0006

4.555 EUR
-0.06 (-1.19%)
Last: Feb 5, 2026, 05:29 PM
Fundamental Rating

5

Taking everything into account, NOS scores 5 out of 10 in our fundamental rating. NOS was compared to 31 industry peers in the Diversified Telecommunication Services industry. NOS has an excellent profitability rating, but there are concerns on its financial health. NOS has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • NOS had positive earnings in the past year.
  • In the past year NOS had a positive cash flow from operations.
  • Each year in the past 5 years NOS has been profitable.
  • In the past 5 years NOS always reported a positive cash flow from operatings.
NOS.LS Yearly Net Income VS EBIT VS OCF VS FCFNOS.LS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

1.2 Ratios

  • The Return On Assets of NOS (7.14%) is better than 87.10% of its industry peers.
  • NOS's Return On Equity of 24.06% is amongst the best of the industry. NOS outperforms 90.32% of its industry peers.
  • NOS has a Return On Invested Capital of 10.18%. This is amongst the best in the industry. NOS outperforms 87.10% of its industry peers.
  • NOS had an Average Return On Invested Capital over the past 3 years of 7.84%. This is in line with the industry average of 8.68%.
  • The last Return On Invested Capital (10.18%) for NOS is above the 3 year average (7.84%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.14%
ROE 24.06%
ROIC 10.18%
ROA(3y)6.6%
ROA(5y)5.43%
ROE(3y)21.67%
ROE(5y)17.95%
ROIC(3y)7.84%
ROIC(5y)7.63%
NOS.LS Yearly ROA, ROE, ROICNOS.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

1.3 Margins

  • With a decent Profit Margin value of 14.18%, NOS is doing good in the industry, outperforming 77.42% of the companies in the same industry.
  • NOS's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 16.79%, NOS is in the better half of the industry, outperforming 64.52% of the companies in the same industry.
  • NOS's Operating Margin has been stable in the last couple of years.
  • NOS has a Gross Margin of 71.16%. This is in the better half of the industry: NOS outperforms 74.19% of its industry peers.
  • In the last couple of years the Gross Margin of NOS has remained more or less at the same level.
Industry RankSector Rank
OM 16.79%
PM (TTM) 14.18%
GM 71.16%
OM growth 3Y3.9%
OM growth 5Y1.36%
PM growth 3Y16.78%
PM growth 5Y10.28%
GM growth 3Y2.11%
GM growth 5Y0.6%
NOS.LS Yearly Profit, Operating, Gross MarginsNOS.LS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NOS is creating some value.
  • NOS has about the same amout of shares outstanding than it did 1 year ago.
  • NOS has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, NOS has an improved debt to assets ratio.
NOS.LS Yearly Shares OutstandingNOS.LS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
NOS.LS Yearly Total Debt VS Total AssetsNOS.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • Based on the Altman-Z score of 1.55, we must say that NOS is in the distress zone and has some risk of bankruptcy.
  • With a decent Altman-Z score value of 1.55, NOS is doing good in the industry, outperforming 77.42% of the companies in the same industry.
  • The Debt to FCF ratio of NOS is 4.88, which is a neutral value as it means it would take NOS, 4.88 years of fcf income to pay off all of its debts.
  • NOS has a better Debt to FCF ratio (4.88) than 83.87% of its industry peers.
  • NOS has a Debt/Equity ratio of 1.30. This is a high value indicating a heavy dependency on external financing.
  • NOS has a Debt to Equity ratio of 1.30. This is in the lower half of the industry: NOS underperforms 64.52% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.3
Debt/FCF 4.88
Altman-Z 1.55
ROIC/WACC1.59
WACC6.4%
NOS.LS Yearly LT Debt VS Equity VS FCFNOS.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B

2.3 Liquidity

  • NOS has a Current Ratio of 0.61. This is a bad value and indicates that NOS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NOS has a worse Current ratio (0.61) than 80.65% of its industry peers.
  • NOS has a Quick Ratio of 0.61. This is a bad value and indicates that NOS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NOS has a Quick ratio of 0.57. This is amonst the worse of the industry: NOS underperforms 83.87% of its industry peers.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.57
NOS.LS Yearly Current Assets VS Current LiabilitesNOS.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • NOS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 51.43%, which is quite impressive.
  • Measured over the past years, NOS shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.44% on average per year.
  • NOS shows a small growth in Revenue. In the last year, the Revenue has grown by 7.36%.
  • NOS shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.07% yearly.
EPS 1Y (TTM)51.43%
EPS 3Y23.41%
EPS 5Y14.44%
EPS Q2Q%30%
Revenue 1Y (TTM)7.36%
Revenue growth 3Y5.85%
Revenue growth 5Y3.07%
Sales Q2Q%5.69%

3.2 Future

  • The Earnings Per Share is expected to decrease by -7.66% on average over the next years.
  • Based on estimates for the next years, NOS will show a small growth in Revenue. The Revenue will grow by 3.57% on average per year.
EPS Next Y-25.2%
EPS Next 2Y-15.04%
EPS Next 3Y-9.99%
EPS Next 5Y-7.66%
Revenue Next Year8.39%
Revenue Next 2Y4.79%
Revenue Next 3Y3.43%
Revenue Next 5Y3.57%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
NOS.LS Yearly Revenue VS EstimatesNOS.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
NOS.LS Yearly EPS VS EstimatesNOS.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.1 0.2 0.3 0.4 0.5

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6

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 8.59, which indicates a very decent valuation of NOS.
  • Compared to the rest of the industry, the Price/Earnings ratio of NOS indicates a rather cheap valuation: NOS is cheaper than 90.32% of the companies listed in the same industry.
  • NOS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.25.
  • With a Price/Forward Earnings ratio of 11.91, the valuation of NOS can be described as very reasonable.
  • NOS's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. NOS is cheaper than 74.19% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.50, NOS is valued rather cheaply.
Industry RankSector Rank
PE 8.59
Fwd PE 11.91
NOS.LS Price Earnings VS Forward Price EarningsNOS.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, NOS is valued cheaper than 90.32% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.61
EV/EBITDA N/A
NOS.LS Per share dataNOS.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3

4.3 Compensation for Growth

  • NOS has an outstanding profitability rating, which may justify a higher PE ratio.
  • NOS's earnings are expected to decrease with -9.99% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.6
EPS Next 2Y-15.04%
EPS Next 3Y-9.99%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 7.97%, NOS is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 3.09, NOS pays a better dividend. On top of this NOS pays more dividend than 100.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, NOS pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.97%

5.2 History

  • The dividend of NOS decreases each year by -0.01%.
Dividend Growth(5Y)-0.01%
Div Incr Years1
Div Non Decr Years5
NOS.LS Yearly Dividends per shareNOS.LS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3

5.3 Sustainability

  • NOS pays out 80.98% of its income as dividend. This is not a sustainable payout ratio.
  • The Dividend Rate of NOS has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP80.98%
EPS Next 2Y-15.04%
EPS Next 3Y-9.99%
NOS.LS Yearly Income VS Free CF VS DividendNOS.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
NOS.LS Dividend Payout.NOS.LS Dividend Payout, showing the Payout Ratio.NOS.LS Dividend Payout.PayoutRetained Earnings

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NOS SGPS

ELI:NOS (2/5/2026, 5:29:48 PM)

4.555

-0.06 (-1.19%)

Chartmill FA Rating
GICS IndustryGroupTelecommunication Services
GICS IndustryDiversified Telecommunication Services
Earnings (Last)10-27
Earnings (Next)02-24
Inst Owners13.87%
Inst Owner ChangeN/A
Ins Owners0.16%
Ins Owner ChangeN/A
Market Cap2.35B
Revenue(TTM)1.78B
Net Income(TTM)253.04M
Analysts56.84
Price Target4.25 (-6.7%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.97%
Yearly Dividend0.35
Dividend Growth(5Y)-0.01%
DP80.98%
Div Incr Years1
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)21.7%
Min EPS beat(2)7.26%
Max EPS beat(2)36.14%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-1.01%
Min Revenue beat(2)-1.79%
Max Revenue beat(2)-0.24%
Revenue beat(4)2
Avg Revenue beat(4)0.05%
Min Revenue beat(4)-1.79%
Max Revenue beat(4)1.7%
Revenue beat(8)4
Avg Revenue beat(8)0.08%
Revenue beat(12)7
Avg Revenue beat(12)-0.01%
Revenue beat(16)10
Avg Revenue beat(16)0.46%
PT rev (1m)0%
PT rev (3m)0.71%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)5.13%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.31%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.22%
Valuation
Industry RankSector Rank
PE 8.59
Fwd PE 11.91
P/S 1.31
P/FCF 6.61
P/OCF 3
P/B 2.23
P/tB N/A
EV/EBITDA N/A
EPS(TTM)0.53
EY11.64%
EPS(NY)0.38
Fwd EY8.4%
FCF(TTM)0.69
FCFY15.14%
OCF(TTM)1.52
OCFY33.34%
SpS3.46
BVpS2.04
TBVpS-0.36
PEG (NY)N/A
PEG (5Y)0.6
Graham Number4.93
Profitability
Industry RankSector Rank
ROA 7.14%
ROE 24.06%
ROCE 11.51%
ROIC 10.18%
ROICexc 10.22%
ROICexgc 19.49%
OM 16.79%
PM (TTM) 14.18%
GM 71.16%
FCFM 19.9%
ROA(3y)6.6%
ROA(5y)5.43%
ROE(3y)21.67%
ROE(5y)17.95%
ROIC(3y)7.84%
ROIC(5y)7.63%
ROICexc(3y)7.88%
ROICexc(5y)7.76%
ROICexgc(3y)14.7%
ROICexgc(5y)14.69%
ROCE(3y)8.86%
ROCE(5y)8.63%
ROICexgc growth 3Y2.8%
ROICexgc growth 5Y3.18%
ROICexc growth 3Y7.04%
ROICexc growth 5Y2.64%
OM growth 3Y3.9%
OM growth 5Y1.36%
PM growth 3Y16.78%
PM growth 5Y10.28%
GM growth 3Y2.11%
GM growth 5Y0.6%
F-Score6
Asset Turnover0.5
Health
Industry RankSector Rank
Debt/Equity 1.3
Debt/FCF 4.88
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 23.93%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 140.38%
Current Ratio 0.61
Quick Ratio 0.57
Altman-Z 1.55
F-Score6
WACC6.4%
ROIC/WACC1.59
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)28.72%
Cap/Sales(5y)33.66%
Profit Quality(3y)131.24%
Profit Quality(5y)127.18%
High Growth Momentum
Growth
EPS 1Y (TTM)51.43%
EPS 3Y23.41%
EPS 5Y14.44%
EPS Q2Q%30%
EPS Next Y-25.2%
EPS Next 2Y-15.04%
EPS Next 3Y-9.99%
EPS Next 5Y-7.66%
Revenue 1Y (TTM)7.36%
Revenue growth 3Y5.85%
Revenue growth 5Y3.07%
Sales Q2Q%5.69%
Revenue Next Year8.39%
Revenue Next 2Y4.79%
Revenue Next 3Y3.43%
Revenue Next 5Y3.57%
EBIT growth 1Y18.08%
EBIT growth 3Y9.97%
EBIT growth 5Y4.47%
EBIT Next Year158.92%
EBIT Next 3Y37.38%
EBIT Next 5Y26.43%
FCF growth 1Y48.36%
FCF growth 3Y149.07%
FCF growth 5Y14.29%
OCF growth 1Y20.51%
OCF growth 3Y8.56%
OCF growth 5Y6.27%

NOS SGPS / NOS.LS FAQ

What is the ChartMill fundamental rating of NOS SGPS (NOS.LS) stock?

ChartMill assigns a fundamental rating of 5 / 10 to NOS.LS.


Can you provide the valuation status for NOS SGPS?

ChartMill assigns a valuation rating of 6 / 10 to NOS SGPS (NOS.LS). This can be considered as Fairly Valued.


Can you provide the profitability details for NOS SGPS?

NOS SGPS (NOS.LS) has a profitability rating of 8 / 10.


Can you provide the expected EPS growth for NOS stock?

The Earnings per Share (EPS) of NOS SGPS (NOS.LS) is expected to decline by -25.2% in the next year.


How sustainable is the dividend of NOS SGPS (NOS.LS) stock?

The dividend rating of NOS SGPS (NOS.LS) is 6 / 10 and the dividend payout ratio is 80.98%.