NUIX LIMITED (NXL)
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NXL - NUIX LIMITED

FNArena Sector : Software & Services

Year End: June

GICS Industry Group : NONE

Debt/EBITDA: 0.08

Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Nuix is an Australian technology company providing investigative analytics and intelligence software for transforming large amounts of data into actionable intelligence. The company listed in December 2020.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$2.64 28 Aug 2025	0.220 OPEN $2.43	9.09% HIGH $2.72	3,556,602 LOW $2.42

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$2.64

28 Aug
2025

0.220

OPEN

$2.43

9.09%

HIGH

$2.72

3,556,602

LOW

$2.42

TARGET

$3.10

17.4% upside

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FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	- 2.8	5.9	xxx
DPS (cps)	xxx	0.0	0.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	46.1	xxx
Dividend Yield	xxx	N/A	0.0%	xxx
Div Pay Ratio(%)	xxx	N/A	N/A	xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	-2.8
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	221.5 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	87.9
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	26.9 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-4.16 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-3.19 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-3.14 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-2.14 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-3.19 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	1.31 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	25.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	2 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	3 M
Total Debt	xxx	xxx	xxx	xxx	xxx	5 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	23 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	40 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	2.49

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	22.8 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	10.31 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	77 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	140 M
Research & Development	xxx	xxx	xxx	xxx	xxx	34 M
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Shaw and Partners	27/08/2025	1	Buy	$3.10	17.42%	Nuix delivered FY25 results with disappointing annual contract value (ACV) growth of 6.9% to $228.4m, below the initial 11-16% guidance, observes Shaw and Partners. Statutory revenue of $221.5m was flat year-on-year, while underlying cash earnings (EBITDA) rose 25% to $37.2m, supported by lower operating costs, explains the broker. Profitability was impacted by -$10.6m of legal expenses and weaker free cash flow of $17.6m, below the analysts' expectations due to working capital. Neo contributed strongly, highlights Shaw, with $16m ACV added, underpinning FY26 expectations of 10% ACV growth. Revenue growth is expected to outpace costs, driving a forecast 15% lift in cash earnings to $49m and a margin of 20%. Legal costs remain a drag but the broker believes sentiment is overly negative given the long-term growth profile. Shaw cuts its FY26-FY28 revenue and cost forecasts materially but expects ongoing cash flow positivity. The Buy, High Risk rating is retained. The target falls to $3.10 from $5.70. FORECAST Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.90 cents. Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 9.70 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Shaw and Partners

27/08/2025

Buy

$3.10

17.42%

Nuix delivered FY25 results with disappointing annual contract value (ACV) growth of 6.9% to $228.4m, below the initial 11-16% guidance, observes Shaw and Partners.

Statutory revenue of $221.5m was flat year-on-year, while underlying cash earnings (EBITDA) rose 25% to $37.2m, supported by lower operating costs, explains the broker.

Profitability was impacted by -$10.6m of legal expenses and weaker free cash flow of $17.6m, below the analysts' expectations due to working capital.

Neo contributed strongly, highlights Shaw, with $16m ACV added, underpinning FY26 expectations of 10% ACV growth. Revenue growth is expected to outpace costs, driving a forecast 15% lift in cash earnings to $49m and a margin of 20%.

Legal costs remain a drag but the broker believes sentiment is overly negative given the long-term growth profile.

Shaw cuts its FY26-FY28 revenue and cost forecasts materially but expects ongoing cash flow positivity. The Buy, High Risk rating is retained. The target falls to $3.10 from $5.70.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.90 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 9.70 cents.

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Moelis	xx/xx/xxxx	1	xxxxxxx xx xxx xxxx xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Jarden	28/08/2025	3	Neutral	$2.25	-14.77%	Jarden notes Nuix's FY25 result showed 8% growth in Annualised Contract Value (ACV) but missed its forecast by -2%. Churn worsened to 7.1% from 5.4% in FY24. Overall, a mixed result with cash EBITDA better controlled but weak ACV and rising churn undermining confidence. Strong momentum in Nuix Neo and new product launches are a positive while negatives include competitive pressures and revenue recognition variability. The broker cut FY26-28 EBITDA forecast by -5-12% on revenue downgrades and lower compounded annual growth asumption for Nuix Neo. Neutral. Target trimmed to $2.25 from $2.46. FORECAST Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.00 cents. Jarden forecasts a full year FY27 EPS of 5.20 cents.
Petra Capital	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Moelis

xx/xx/xxxx

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

28/08/2025

Neutral

$2.25

-14.77%

Jarden notes Nuix's FY25 result showed 8% growth in Annualised Contract Value (ACV) but missed its forecast by -2%. Churn worsened to 7.1% from 5.4% in FY24.

Overall, a mixed result with cash EBITDA better controlled but weak ACV and rising churn undermining confidence. Strong momentum in Nuix Neo and new product launches are a positive while negatives include competitive pressures and revenue recognition variability.

The broker cut FY26-28 EBITDA forecast by -5-12% on revenue downgrades and lower compounded annual growth asumption for Nuix Neo.

Neutral. Target trimmed to $2.25 from $2.46.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.00 cents.
Jarden forecasts a full year FY27 EPS of 5.20 cents.

Petra Capital

xx/xx/xxxx

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Access Extra Coverage Research History >

NXL STOCK CHART

FNArena News on NXL

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NUIX LIMITED (NXL)
Share Price Analysis and Chart