Deep Value: cash covers more than 100% of the stock price

This company holds roughly $6.2B in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Nexi S.p.A.

NEXI.MI

Software - Infrastructure · Technology

Exchange

Italian Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Strong

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

Nexi S.p.A. is an Italian company that helps businesses and banks accept and process digital payments. Its core products include payment terminals, card processing systems, and digital banking software, serving merchants, banks, and public institutions across Europe. Nexi is one of the largest payment technology providers in Europe, often called the "PayTech" leader in Italy and a major player across Germany, the Nordic countries, and Central and Eastern Europe.

Nexi makes money by charging fees each time a card transaction is processed, as well as through software licenses and services sold to banks and merchants. It operates primarily across Europe, with significant scale built through acquisitions of companies like Nets and Sia. Its competitive moat comes from deep integration with European banks and long-term contracts, which make switching costly for customers. The main risk the business faces is heavy debt from those acquisitions, which limits financial flexibility as interest rates remain elevated.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+74.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+30.4% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

44.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

€5.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Nexi S.p.A. grew revenue 74% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

25.0%

Thin — 25.0% gross margin

Profit after running costs

Operating Margin

7.9%

Modest — 7.9% operating margin

Return on the money invested

ROCE

9.1%

Below par — 9.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+25.5%

Fast-growing sales (+25.5% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

5.9%

Thin free cash flow (5.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.87

Moderate — manageable debt (0.87)

Covers its interest

Interest Cover

10.07x

Comfortably covers interest (10.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

6.85%

no trend

Healthy income — 6.85% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

N/A

no trend

Data not available

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