N-able, Inc.

Technology
Computer Software: Prepackaged Software
www.n-able.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.91B
PE 51
Debt $343.00M
Cash $174.45M
EV $2.07B
FCF $70.96M

Earnings

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Sales & Net Margins

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Earnings	$37.02M
EBIT	$88.19M
ROE	5%
ROA	7%
FCF	$70.96M
Equity	$764.95M
Growth Stability	100%
PE	51.48
PEG	0.53
PB	2.49
P/FCF	26.86
P/S	4.16
Price/Cash	0.09
Debt/Equity	0.45
Debt/FCF	4.83
Net Margins	8%
Gross Margins	84%
Op. Margins	19%
Earnings CAGR	97%
Sales Growth YoY	8%
Sales Growth QoQ	-3%
Sales CAGR	18%
FCF CAGR	3%
Equity CAGR	5%
Earnings Stability	-0.13
Earnings Growth YoY	79%
Earnings Growth QoQ	14%

Earnings CAGR 5Y	97%
Sales CAGR 5Y	18%
FCF CAGR 5Y	3%
Equity CAGR 5Y	5%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
FCF CAGR 3Y	16%
Equity CAGR 3Y	9%
Market Cap	$1.91B
Revenue	$458.05M
Assets	$1.22B
Total Debt	$343.00M
Cash	$174.45M
Shares Outstanding	184.84M
EV	2.07B
Earnings Score	6%
Moat Score	75%
Safety Score	86%
Final Score	56%
Working Capital	188.5M
Current Ratio	3.01
Gross Profit	$383.07M
Shares Growth 3y	2%
Equity Growth QoQ	6%
Equity Growth YoY	13%

Assets & ROA

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Stockholders Equity & ROE

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N-able Inc empowers managed services providers (MSPs) to help small and medium enterprises navigate the digital evolution. Its flexible technology platform and powerful integrations help MSPs to monitor, manage, and protect their end customer systems, data, and networks. Its portfolio of security, automation, and backup and recovery solutions is built for IT services management professionals. It simplifies complex ecosystems and enables customers to solve their most pressing challenges. The group also provides extensive, proactive support through enriching partner programs, hands-on training, and growth resources to help MSPs deliver exceptional value and achieve success at scale.

SEC Filings

Direct access to N-able, Inc. (NABL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does N-able, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of N-able, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 97%

Stability -13%

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N-able, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for N-able, Inc..

Years

Calculation mode

= $880M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$71M	$73M	$76M	$78M	$80M	$83M	$85M	$88M	$91M	$94M	$97M	$968M
DCF		$67M	$62M	$59M	$55M	$51M	$48M	$45M	$42M	$40M	$37M	$373M
Value	$880M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2019	12/2020	12/2022	12/2023	TTM
Net Margins	-1%	-2%	4%	6%	8%
ROA	-	-	-	6%	7%
ROE	-	-	3%	3%	5%

Net Margins (7.91%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2019	12/2020	12/2022	12/2023	TTM
Debt over FCF	-	-	-	4.53	4.83
Debt over Equity	-	0	0.54	0.49	0.45
Growth Stability	-	-	-	100%	100%

Bad Debt/FCF ratio (4.83)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.45)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2019	12/2020	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	15%	23%	13%	18%
Earnings YoY growth	-	185%	-333%	40%	97%
Equity YoY growth	-	12%	2%	11%	5%
FCF YoY growth	-	273%	-21%	30%	3%