NAAS NaaS Technology Inc. - American Depositary Shares
NASDAQ · Retail · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Apr 17, 2026
$3.30
· of 52w range
· above low
· to high
$1.8052w low
$4.2652w high
P/E
67.6
EPS
$0.05
Revenue
$320M
your badges
52W Range
$2–$4
Analyst Rating
BUY
Price Target
·
P/E
67.6
ROE
53.3%
Net Profit Margin
·
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NAAS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.30
P/E
67.6
EPS
$0.05
Revenue
$320M
ROE
53.3%
52W Range
$2–$4
NAAS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| July 30, 2025 | 1-for-4 | Reverse |
| April 28, 2025 | 1-for-4 | Reverse |
| June 13, 2024 | 1-for-20 | Reverse |
| June 13, 2022 | 1-for-5 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$320M2016-12-31 → 2023-12-31
EPS$0.052016-12-31 → 2025-12-31
Free Cash Flow·2017-12-31 → 2022-12-31
Net margin·2017-12-31 → 2023-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NAAS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 67.65Y avg ≈-875.7 | ≈-875.7 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NAAS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -91.1%5Y avg ≈-272.3% | ≈-272.3% | -91.1% | In line | |
| ROE | 53.3%5Y avg ≈-794.1% | ≈-794.1% | -24.4% | Top tier | |
| ROIC | 29.8%5Y avg ≈228.9% | ≈228.9% | -20.7% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NAAS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio | 0.25Y avg ≈1.6 | ≈1.6 | 0.3 | Low liquidity | |
| Quick Ratio | 0.15Y avg ≈0.7 | ≈0.7 | 0.1 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NAAS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Inventory Turnover | 2072.8 | · | 68.5 | Top tier | |
| Revenue / Employee | ≈$1.8M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-385.1%
Next Report
Oct 12, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| Sept. 30, 2021 | $0.00 | $20.29 | -100.0% | |
| June 30, 2021 | $-192.00 | $104.01 | -284.6% | |
| March 31, 2021 | $-80.00 | $7.52 | -1163.3% | |
| Dec. 31, 2020 | $240.00 | $223.13 | 7.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $320M | $93M | $33M | $6M | $1.53B | $1.27B | $969M | $711M | $529M | |
| Cost of Revenue | $18M | $112M | $170M | $87M | $30M | $7M | $695M | $577M | $452M | $364M | $347M | |
| Gross Profit | $108M | $89M | $63M | $6M | $4M | $356M | $835M | $695M | $517M | $347M | $183M | |
| R&D Expense | $15M | $42M | $62M | $37M | $30M | $18M | · | · | · | · | · | |
| SG&A Expense | · | · | · | · | $30M | $18M | $15M | $242M | $340M | $148M | $136M | |
| Operating Expenses | · | · | · | · | $30M | $18M | $15M | $488M | $518M | $277M | $232M | |
| Operating Income | $-266M | $-807M | $-1.06B | $-2.46B | $-254M | $-76M | $-15M | $208M | $-628.0K | $71M | $-49M | |
| Interest Expense | · | · | $783.0K | $1M | $1M | $300.0K | $34M | $34M | $27M | $6M | · | |
| Interest Income | · | · | · | · | $2.0K | $13.0K | $80.0K | $26M | $20M | $17M | $18M | |
| Other Non-op | · | · | · | · | · | $27M | $10M | $15M | $7M | $4M | $253.0K | |
| Pretax Income | $-450M | $-932M | $-1.30B | $-5.63B | $-255M | $-76M | $-15M | $214M | $-676.0K | $83M | $-33M | |
| Income Tax | $0 | $-19M | $3M | $10M | $5M | $1M | $71M | $72M | $53M | $32M | $-1M | |
| Net Income | $-439M | $-913M | $-1.31B | $-5.64B | $-260M | $-78M | $148M | $143M | $-48M | $54M | $-26M | |
| EPS (Basic) | $0.05 | $0.35 | $0.58 | $-2.92 | $-0.16 | $-0.05 | $1.31 | $1.26 | $-0.47 | $0.54 | · | |
| EPS (Diluted) | $0.05 | $0.35 | $0.58 | $-2.92 | $-0.16 | $-0.05 | $1.29 | $1.23 | $-0.47 | $0.54 | · | |
| Shares (Basic) | 9,734,338,690 | 2,630,750,526 | 2,259,760,407 | 1,927,746,700 | 1,647,547,772 | 1,647,547,772 | 113,187,721 | 113,812,182 | 101,890,411 | 100,000,000 | · | |
| Shares (Diluted) | · | · | · | · | 0 | 112,813,031 | 114,464,108 | 115,881,867 | 101,890,411 | 100,000,000 | · | |
| EBITDA | $-266M | $-807M | $-1.07B | $-2.46B | $-254M | $-54M | $293M | $266M | $49M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $81M | $127M | $436M | $513M | $8M | $4M | $2M | $1.29B | $1.06B | $640M | $517M | |
| Receivables | · | · | · | · | · | $2M | $2M | $2M | $2M | $0 | · | |
| Inventory | $17.0K | $0 | $22M | $0 | · | $8M | $9M | $11M | $8M | $6M | · | |
| Prepaid Expense | · | · | · | · | $14M | $5M | $51M | $72M | $41M | $46M | · | |
| Current Assets | $214M | $439M | $1.14B | $931M | $153M | $58M | $1.08B | $1.40B | $1.14B | $708M | · | |
| PP&E (Net) | $1M | $3M | $4M | $3M | $548.0K | $108M | $137M | $128M | $100M | $76M | · | |
| PP&E (Gross) | · | · | · | · | · | $370M | $351M | $299M | $236M | $185M | · | |
| Accum. Depreciation | · | · | · | · | · | $262M | $213M | $171M | $136M | $110M | · | |
| Goodwill | · | · | $40M | $0 | · | $659M | $665M | $492M | $476M | $462M | $444M | |
| Intangibles | $2M | $2M | $13M | $833.0K | · | $186M | $210M | $198M | $201M | $226M | · | |
| Other Non-current Assets | · | · | · | · | · | $56M | $50M | $53M | $35M | $25M | · | |
| Total Assets | $313M | $651M | $1.47B | $1.11B | $178M | $77M | $2.80B | $2.28B | $1.96B | $1.50B | · | |
| Accounts Payable | · | · | $152M | $49M | $9M | $1M | $8M | $8M | $6M | $4M | · | |
| Accrued Liabilities | · | · | · | · | $9M | $1M | $203M | $160M | $42M | $36M | · | |
| Current Liabilities | $1.12B | $1.35B | $817M | $192M | $136M | $48M | $1.23B | $1.28B | $1.03B | $763M | · | |
| Capital Leases | · | · | · | · | · | $452M | $464M | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | $24M | $31M | $15M | $4M | $12M | · | |
| Other Non-current Liabilities | · | · | · | · | $3M | $50M | $39M | $8M | $3M | $2M | · | |
| Total Liabilities | $1.21B | $1.40B | $1.51B | $667M | $149M | $62M | $2.18B | $1.84B | $1.66B | $1.10B | · | |
| Long-term Debt | · | · | · | · | · | $45M | $36M | $22M | $10M | $371M | · | |
| Total Debt | · | · | · | · | · | $418M | $504M | $585M | $623M | · | · | |
| Common Stock | · | · | · | · | $7M | $7M | $7M | $7M | $7M | $6M | · | |
| Retained Earnings | $-8.69B | $-8.25B | $-7.34B | $-6.03B | $-394M | $-133M | $-127M | $-249M | $-316M | $-134M | · | |
| Treasury Stock | · | · | · | · | · | · | · | $23M | · | · | · | |
| AOCI | · | · | · | · | $33M | $40M | $41M | $42M | $40M | $50M | $28M | |
| Stockholders' Equity | $-893M | $-754M | $-44M | $439M | $29M | $15M | $24M | $456M | $310M | $407M | · | |
| Liabilities + Equity | · | · | · | · | $31M | $2.43B | $2.80B | $2.28B | $1.96B | $1.50B | · | |
| Shares Outstanding | · | · | · | · | 113,030,392 | 112,951,232 | 112,755,320 | 113,779,244 | 110,000,000 | 100,000,000 | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | $84M | $70M | $58M | $50M | $70M | $92M | |
| Stock-based Comp | · | · | · | · | · | $18M | $48M | $19M | $95M | $0 | $0 | |
| Deferred Tax | · | · | · | · | · | $-31M | $6M | $7M | $1M | $-5M | $-12M | |
| Amort. of Intangibles | · | · | · | · | · | $31M | $25M | $22M | $20M | $40M | $65M | |
| Other Non-cash | · | · | · | · | · | $-144M | $-312M | $153M | $247M | · | · | |
| Operating Cash Flow | $532.0K | $-179M | $-568M | $-586M | $-219M | $-57M | $-40M | $380M | $350M | $241M | $164M | |
| CapEx | · | · | · | $17M | $606.0K | $24M | $51M | $65M | $50M | $35M | $35M | |
| Investing Cash Flow | $12M | $-202M | $-340M | $-161M | $-6M | $-112M | $-115M | $-101M | $-53M | $-43M | $-38M | |
| Debt Issued | · | · | · | · | · | · | · | · | $573M | $357M | $0 | |
| Net Debt Issued | · | · | · | · | · | · | · | $-22M | $573M | · | · | |
| Stock Repurchased | · | · | · | · | · | $0 | $48M | $21M | · | · | · | |
| Net Stock Activity | · | · | · | · | · | · | $-48M | $-21M | · | · | · | |
| Dividends Paid | · | · | · | · | · | · | · | · | $572M | $426M | $0 | |
| Financing Cash Flow | $-57M | $71M | $830M | $1.25B | $230M | $58M | $-141M | $-57M | $137M | $-69M | $98.0K | |
| Net Change in Cash | · | · | · | · | $-623M | $-384M | $-294M | $232M | $428M | $135M | $128M | |
| Taxes Paid | · | · | · | · | · | $-14M | $-67M | $-55M | $-53M | $-26M | $-10M | |
| Free Cash Flow | · | · | · | $-598M | $-220M | $-230M | $-91M | $315M | $295M | · | · | |
| Levered FCF | · | · | · | $-599M | $-221M | $-251M | $-114M | $292M | $-1.81B | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | 27.7% | · | · | 37.1% | 54.6% | 54.7% | 53.3% | · | · | |
| Operating Margin | · | · | -333.2% | -2651.0% | -759.4% | -14.4% | 14.6% | 16.3% | -0.06% | · | · | |
| Net Margin | · | · | -408.3% | -6073.8% | -778.6% | -13.8% | 9.7% | 11.2% | -5.0% | · | · | |
| Pretax Margin | · | · | -407.2% | -6063.2% | -762.7% | -16.4% | 14.1% | 16.8% | -0.07% | · | · | |
| EBITDA Margin | · | · | -333.2% | -2651.0% | -759.4% | -5.7% | 19.1% | 20.9% | 5.1% | · | · | |
| ROA | -91.1% | -86.4% | -101.7% | -878.1% | -204.5% | -5.1% | 5.8% | 6.8% | -2.8% | · | · | |
| ROE | 53.3% | 229.0% | -661.3% | -2407.5% | -1184.0% | -51.0% | 27.8% | 37.3% | -13.4% | · | · | |
| ROIC | 29.8% | 104.8% | 2452.6% | -561.6% | -881.0% | -13.6% | 13.4% | 13.3% | -5.3% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.2 | 0.3 | 1.4 | 4.8 | 1.1 | 0.6 | 0.9 | 1.1 | 1.1 | · | · | |
| Quick Ratio | 0.1 | 0.1 | 0.5 | 2.7 | 0.1 | 0.5 | 0.8 | 1.0 | 1.0 | · | · | |
| Debt / Equity | · | · | · | · | · | 0.8 | 0.8 | 1.3 | 2.0 | · | · | |
| LT Debt / Equity | · | · | · | · | · | 0.4 | 0.6 | 1.1 | 2.0 | · | · | |
| Interest Coverage | · | · | -1361.9 | -2259.4 | -231.6 | -5.9 | 6.5 | 6.1 | -0.0 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.2 | 0.1 | 0.3 | 0.4 | 0.6 | 0.6 | 0.6 | · | · | |
| Inventory Turnover | 2072.8 | · | 20.6 | · | · | 73.1 | 69.5 | 60.0 | 67.3 | · | · | |
| Receivables Turnover | · | · | · | · | · | 476.1 | 731.3 | 518.3 | 784.8 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | · | · | · | · | $4.38 | $5.40 | $4.01 | $2.82 | · | · | |
| Revenue / Share | · | · | · | · | · | $8.50 | $13.16 | $10.98 | · | · | · | |
| Cash Flow / Share | · | · | · | · | · | $-1.82 | $-0.34 | $3.28 | · | · | · | |
| Cash / Share | · | · | · | · | · | $4.91 | $8.86 | $11.32 | $9.60 | · | · | |
| EPS (TTM) | $0.05 | $0.35 | $0.58 | $-2.92 | $-0.16 | $-0.05 | $1.29 | $1.23 | $-0.47 | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | $320M | $93M | $33M | $6M | $1.53B | $1.27B | $969M | · | · | |
| Net Income TTM | $-439M | $-913M | $-1.31B | $-5.64B | $-260M | $-78M | $148M | $143M | $-48M | · | · | |
| Market Cap | · | · | · | · | · | $1.10T | $1.26T | $1.45T | $2.60T | · | · | |
| Enterprise Value | · | · | · | · | · | $1.10T | $1.26T | $1.45T | $2.60T | · | · | |
| P/E | 67.6 | 91.4 | 838.6 | -426.3 | -4950.0 | -194880.0 | 8669.8 | 10354.5 | -50348.9 | · | · | |
| P/S | · | · | · | · | · | 178581.3 | 824.5 | 1139.3 | 2685.6 | · | · | |
| P/B | · | · | · | · | · | 2222.9 | 2071.1 | 3179.5 | 8393.4 | · | · | |
| P / Tangible Book | · | · | · | · | 3040.9 | · | · | · | · | · | · | |
| P / Cash Flow | · | · | · | · | · | -5349.4 | -31641.9 | 3813.1 | 7539.2 | · | · | |
| P / FCF | · | · | · | · | · | -4793.2 | -13903.1 | 4602.9 | 8825.9 | · | · | |
| EV / EBITDA | · | · | · | · | · | -20324.7 | 4305.0 | 5448.4 | 53024.6 | · | · | |
| EV / FCF | · | · | · | · | · | -4792.6 | -13897.7 | 4600.6 | 8824.4 | · | · | |
| EV / Revenue | · | · | · | · | · | 178559.2 | 824.2 | 1138.8 | 2685.1 | · | · | |
| Dividend Yield | · | · | · | · | · | · | · | · | 0.02% | · | · | |
| Earnings Yield | 1.5% | 1.1% | 0.12% | -0.23% | -0.02% | 0.00% | 0.01% | 0.01% | 0.00% | · | · | |
| Payout Ratio | · | · | · | · | · | · | · | · | -1191.9% | · | · | |
| Annual Payout | · | · | · | · | · | · | · | · | $572M | · | · |
Per Share
| Metric | Trend | Q4 2025 | Q4 2017 |
|---|---|---|---|
| EPS (TTM) | $0.05 | $-0.47 |
Valuation (TTM)
| Metric | Trend | Q4 2025 | Q4 2017 |
|---|---|---|---|
| Revenue TTM | · | $969M | |
| Net Income TTM | $-439M | $-48M | |
| P/E | 67.6 | -50348.9 | |
| Earnings Yield | 1.5% | 0.00% | |
| Annual Payout | · | $572M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | · | · | $320M | $93M | $33M |
| Gross Margin % | · | · | 27.7% | · | · |
| Operating Margin % | · | · | -333.2% | -2651.0% | -759.4% |
| Net Income | $-439M | $-913M | $-1.31B | $-5.64B | $-260M |
| Diluted EPS | $0.05 | $0.35 | $0.58 | $-2.92 | $-0.16 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 0.2 | 0.3 | 1.4 | 4.8 | 1.1 |
| Quick Ratio | 0.1 | 0.1 | 0.5 | 2.7 | 0.1 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | · | · | $-598M | $-220M |
Institutional owners (13F) 7 filers · $54K total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
7
Value held
$54K
New positions
0
Exited positions
1
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 0 (-1 vs prior Q) | 1 (-1 vs prior Q) | 1 (-3 vs prior Q) | 2 (+1 vs prior Q) | -9K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| CITADEL ADVISORS LLC | $35,733 | 12,072 | 66.10% | Shares |
| MORGAN STANLEY | $16,706 | 5,644 | 30.90% | Shares |
| RHUMBLINE ADVISERS | $1,033 | 349 | 1.91% | Shares |
| UBS Group AG | $506 | 171 | 0.94% | Shares |
| IFP Advisors, Inc | $71 | 24 | 0.13% | Shares |
| Farther Finance Advisors, LLC | $6 | 2 | 0.01% | Shares |
| GROUP ONE TRADING LLC | $3 | 1 | 0.01% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Newlink Digital Energy Holding Limited, Newlink Envision Limited, Newlink Linkage Limited, Newlinks Technology Limited | Sept. 8, 2026 | 51.90% | Amendment | · | SEC |
| Newlinks Technology Limited, Newlink Envision Limited, Newlink Linkage Limited, Newlink Digital Energy Holding Limited ×10 filings | July 24, 2026 | 55.90% | Amendment | · | SEC |
| Beijing Zhenwei Qingfeng Economic Management Consulting Partnership (L.P.), Zhenwei Investment Fund Management Co., Ltd. ×2 filings | March 19, 2024 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
NAAS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 7 analysts
BUY
2 28.6%
Strong Buy
4 57.1%
Buy
1 14.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 20-F filed Apr 17, 2026