Nexxen International Ltd.
NEXNdata completeness 88%7 fiscal years on fileData notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'
Nexxen International Ltd. earns about 11% on invested capital, comfortably above its ~9% cost of capital, and has bought back 64% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $4.61 and $46.3 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $341.9M1 | $335.3M2 | $332M3 | $365.5M3 | $364.8M3 |
| Net income | $73.2M4 | $22.7M5 | −$21.5M6 | $35.4M6 | $25M6 |
| Operating cash flow | $170.1M7 | $83M8 | $60.7M9 | $150.8M9 | $110.1M9 |
| Capital expenditure | $3.38M10 | $6.43M11 | $4.5M12 | $7.74M12 | $12.1M12 |
| Free cash flow (derived) | $166.7M7 | $76.6M8 | $56.2M9 | $143.1M9 | $98M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $367.7M13 | $217.5M14 | $234.3M14 | $187.1M14 | $133.3M14 |
| Diluted shares | 154.5M | 144.5M | 146.2M | 65.6M | 56.3M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $84.33 of net worth that earned you $4.45 and generated $17.41 of cash last year.
It earned about 11% on invested capital against a ~9% cost of capital — comfortably above the cost of funding, a moderate advantage.
seeing a moat in the numbers →Share count is down 64% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $4.61 and $46.3 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth8.6%
- fcfBase$98M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth8.6%
- fcfBase$98M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$25M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $27.24 |
| Base | 8.6% | $38.27 |
| Bull | 13.6% | $46.43 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 8.6%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2021-12-31 · accession 0001178913-24-000839 (Revenue)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-000697 (Revenue)
- 20-F · period ending 2023-12-31 · accession 0001178913-26-000712 (Revenue)
- 20-F · period ending 2021-12-31 · accession 0001178913-24-000839 (ProfitLoss)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-000697 (ProfitLoss)
- 20-F · period ending 2023-12-31 · accession 0001178913-26-000712 (ProfitLoss)
- 20-F · period ending 2021-12-31 · accession 0001178913-24-000839 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-000697 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2023-12-31 · accession 0001178913-26-000712 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2021-12-31 · accession 0001178913-24-000839 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-000697 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2023-12-31 · accession 0001178913-26-000712 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2021-12-31 · accession 0001178913-25-000697 (CashAndCashEquivalents)
- 20-F · period ending 2022-12-31 · accession 0001178913-26-000712 (CashAndCashEquivalents)