NaaS Technology Inc. (NAAS) AI Stock Analysis

Headquartered in Beijing, China, NaaS Technology Inc. provides electric vehicle (EV) charging services across the country. It offers an integrated suite of online charging solutions for charging stations, including mobility connectivity via Kuaidian, and SaaS products covering traffic support, marketing, payment, charger, order, load, and membership management. Offline services include site selection, hardware procurement, engineering, station maintenance, energy storage, and customer support. NaaS also provides electricity procurement and ancillary amenities such as vending machines, massage chairs, and car wash tunnels for charger manufacturers, EV original equipment manufacturers, and end-users.

NaaS Technology saw annual revenue expand from $33.5M in FY2021 to a peak of $320.1M in FY2023, before declining 37.2% to $201.0M in FY2024 and falling 37.7% to $125.1M in FY2025. Gross margin improved over this timeframe, rising from 11.6% in FY2021 to 85.9% in FY2025. However, operating margin remained negative at -152.4% in FY2025 alongside a net loss of -$439.0M. For the trailing twelve months ended June 30, 2026, revenue stood at $104.0M with a quarterly revenue decline of 31.7% year-over-year. Diluted EPS for the trailing twelve months was -$25.52.

As of June 30, 2026, NaaS Technology held $77.2M in cash and short-term investments against $573.5M in total debt, resulting in net debt of $496.3M. The company reported negative shareholders' equity of -$935.3M and a current ratio of 0.19. In FY2025, operating cash flow was -$31.4M and free cash flow was -$31.4M, with capital expenditures of $14. Total assets stood at $292.7M.

At a last close of $2.96, NaaS Technology has a market cap of $72.7M and an enterprise value of $132.4M. Its price-to-sales multiple is 0.7x, matching the 0.7x median of its US-listed Consumer Cyclical peers. Its enterprise value-to-revenue multiple stands at 8.5x, and its price-to-book ratio is 12.4x. Over the past year, NAAS shares fell 11.1%, trailing the S&P 500 return of 16.8%. Over a five-year period, the stock declined 99.8% compared to an 83.0% gain for the benchmark index.

Wall Street analysts have set a mean price target of $96.00 for NaaS Technology, which is 3143.2% above the last closing price of $2.96. Over the last four quarters, the company posted 0 EPS beats against expectations. Institutional ownership is minimal at 0.1%, insider holdings stand at 0.5%, and short interest accounts for 0.2% of the float. TTM earnings per share remained negative at -$25.52.

This page is an AI-written research summary of NaaS Technology Inc. (NAAS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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