Netgem SA (FR:ALNTG)
:ALNTG
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Netgem SA
(ALNTG)
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Rating:65Neutral
Price Target:
€0.80
▼(-6.12% Downside)
Action:ReiteratedDate:05/06/26
The score is driven by strong margin recovery and a conservatively financed balance sheet, supported by an attractive valuation (low P/E) and high dividend yield. These positives are tempered by multi-year revenue contraction and weak/volatile free-cash-flow conversion, while technical indicators are broadly neutral with the price still below the 200-day average.
Positive Factors
High gross and EBIT margins
Margin recovery to ~77% gross and ~23% EBIT indicates strong unit economics and operating leverage in Netgem’s platform business. Durable high margins give the company room to absorb revenue volatility, sustain operating profitability and fund product investment or dividends over the medium term.
Negative Factors
Multi-year revenue contraction
A shrinking top line over multiple years erodes scale benefits and can reverse margin gains if fixed costs or platform investments stay elevated. Persisting revenue decline weakens negotiating leverage with operators, reduces addressable market traction and limits ability to grow recurring fees long term.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross and EBIT margins
Margin recovery to ~77% gross and ~23% EBIT indicates strong unit economics and operating leverage in Netgem’s platform business. Durable high margins give the company room to absorb revenue volatility, sustain operating profitability and fund product investment or dividends over the medium term.
Read all positive factors
Netgem SA (ALNTG) vs. iShares MSCI France ETF (EWQ)
Market Cap
€25.35M
Dividend Yield6.46%
Average Volume (3M)9.96K
Price to Earnings (P/E)19.8
Beta (1Y)0.36
Revenue Growth-6.01%
EPS Growth-21.51%
CountryFR
Employees113
SectorGeneral
Sector StrengthN/A
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.04
Shares Outstanding34,887,726
10 Day Avg. Volume9,080
30 Day Avg. Volume9,962
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)1.20
Price to Sales (P/S)0.94
P/FCF Ratio0.00
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)0.07
Revenue Forecast (FY)€32.39M
Netgem SA Business Overview & Revenue Model
Company Description
Netgem SA develops, operates, and markets the NetgemTV digital entertainment platform in France and the United Kingdom. It offers Netgem TV, an OTT and multiscreen service accessible with or without a TV box, and on mobile devices and laptops; Vid...
How the Company Makes Money
Netgem primarily makes money by selling and operating its video entertainment platforms and related services for business customers (notably telecom operators and content distributors). Key revenue streams include: (1) Platform/software and servic...
Netgem SA Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 31.70M | 33.80M | 35.58M | 36.29M | 28.32M |
| Gross Profit | 24.30M | 23.60M | 21.99M | 20.07M | 17.58M |
| EBITDA | 7.40M | 1.80M | 8.29M | 6.53M | 5.18M |
| Net Income | 1.50M | 2.00M | 541.00K | 108.00K | -1.31M |
Balance Sheet | |||||
| Total Assets | 35.87M | 38.21M | 43.20M | 47.10M | 43.84M |
| Cash, Cash Equivalents and Short-Term Investments | 5.85M | 7.01M | 6.60M | 6.16M | 6.45M |
| Total Debt | 1.80M | 994.00K | 1.98M | 2.86M | 2.43M |
| Total Liabilities | 11.15M | 13.25M | 18.15M | 23.30M | 17.96M |
| Stockholders Equity | 24.71M | 24.96M | 25.05M | 23.46M | 24.04M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 0.00 | 1.17M | 573.00K | -147.00K |
| Operating Cash Flow | 2.60M | 7.00M | 5.80M | 7.06M | 6.44M |
| Investing Cash Flow | -1.70M | -4.67M | -7.90M | -6.03M | -6.83M |
| Financing Cash Flow | -2.10M | -2.66M | 2.53M | -1.30M | -3.40M |
Netgem SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | €25.35M | 19.77 | 6.35% | 6.46% | -6.01% | -21.51% | |
56 Neutral | €3.29B | -1.03 | -13.89% | ― | -1.40% | 53.37% | |
56 Neutral | €125.09M | 4.73 | -1.34% | ― | 2.22% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €30.73M | -3.86 | ― | ― | 15.01% | 79.05% | |
47 Neutral | €13.16M | 14.34 | -7.32% | 47.62% | -88.42% | ― |
* General Sector Average
FR:ALNTG
Netgem SA
0.77
-0.18
-19.20%
FR:ETL
Eutelsat Communications
2.79
-0.26
-8.60%
FR:ATEME
Ateme SA
10.80
6.60
157.14%
FR:ALHF
HF Company
4.64
0.65
16.29%
FR:ALNN6
ENENSYS Technologies SA
1.15
0.04
3.53%
FR:ALBPK
Broadpeak SA
2.45
0.91
59.09%
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.