NaaS Technology Inc. American Depositary Shares (NAAS)

FairStock Score: 25/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look first for a business I can understand and a balance sheet that can survive mistakes. NaaS sells EV charging services and related software in China, a market with a real long-term tailwind, but the latest reported quarter tells a brutal story: in the fourth quarter of 2024, revenue was $45.2 million while net income was -$542.9 million, a margin of -1200.01%. That is not a modest loss; it is a loss many times larger than revenue. At the close on 2026-10-13, the shares were $3.10 and the market capitalization was only $23.9 million, so the quoted equity value is smaller than a single quarter's reported loss. FairStock calculations show a P/E of -0.12 and the provided EPS is -$25.52, confirming negative earnings rather than value. ROCE is -13.18%, the Piotroski F-Score is 2/9, and the Altman Z-Score is -47.08, all pointing to weak financial health. The FairStock Score is 25/100, and the Lynch category is none because there are only 0 years of filed results, not the three needed. Competitive advantage is hard to identify: charging services can be capital-intensive and price-competitive, and revenue growth is not available in the data. The 52-week range of $1.80-$4.10 and beta of 1.52 suggest volatility. Growth trajectory cannot be judged from these figures, but the latest loss is the central fact. Graham would demand a margin of safety; here, I see mostly uncertainty. I would need clear evidence of narrowing losses and a survivable capital structure before calling this anything but speculative.

In plain English: At the close on 2026-10-13, NaaS Technology shares were $3.10, and the whole company was valued at $23.9 million. It sells electric vehicle charging services and related software in China. The business looks very weak: in the fourth quarter of 2024, it had $45.2 million of sales but lost $542.9 million, so the price looks expensive against those losses.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer