Nvni Group Ltd

NVNI
About the company

Nvni Group Limited, through its subsidiaries, operates in business-to-business software as a service (SaaS) market in Brazil and Latin America. It provides software subscription and licensing services, in which clients have access to software on multiple devices simultaneously; maintenance services, including technical support and technological evolution; and cloud computing, client, data analytics, and other services. Nvni Group Limited is headquartered in São Paulo, Brazil.

Country: Cayman IslandsPrice: $0.53Market Cap: $6.5M

Investment snapshot

6%positive consensus
Scored 1d ago

Positive

1

BUY / PASS

Neutral / negative

2 / 13

NEUTRAL / FAIL

Median fair value

$3.91

+635.0% vs price

Models with upside

4 / 17

Positive margin of safety

Strongest signal

NVNI undervalued: all 4 models price fair value above $0.53 (median $3.91)

Key risk

No clean pass — all 8 investors flag at least one efficiency criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILNot rankedPASSFAILFAILFAILFAILFAILFAILFAILFAILNEUTRALFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/A+88.6%N/AN/AN/AN/A+83.1%+81.9%N/AN/A+91.4%N/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-10-01

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-10-01

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-10-01

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-10-01

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-10-01

Latest source filing: 2025-04-30

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 4▾

    NVNI undervalued: all 4 models price fair value above $0.53 (median $3.91)

    Buffett fair value$4.67
    ✓Buffett+88.6% margin vs $0.53
    Munger fair value$3.14
    ✓Munger+83.1% margin vs $0.53
    Pabrai fair value$2.94
    ✓Pabrai+81.9% margin vs $0.53
    Ackman fair value$6.17
    ✓Ackman+91.4% margin vs $0.53
  • Cash Flow70% pass✓ 9✗ 3▾

    7 of 10 pass — Buffett, Piotroski and Marks object

    Free Cash Flow Proxy$16.9M
    ✗BuffettPositive and growing
    FCF Positive and Growing$5.9M
    ✓LynchPositive and growing
    Operating Cash Flow$6.2M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=9.52%, ROA=21.26%
    ✗PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)2.9x
    ✓Dreman< 8x
    P/E or FCF YieldFCF Yield=91.6%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive2/4 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap32.4%
    ✓Ackman>= 4%
    Price / FCF per Share3.1x
    ✓Ackman<= 25
    Positive Operating Cash Flow frequency3/4 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$5.9M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+91.62%; #61/4519 (top 1.3%)
    ✓OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

  • Efficiency0% pass✓ 1✗ 10▾

    No clean pass — all 8 investors flag at least one efficiency criterion

    Current Ratio0.16
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)
    ✗Buffett> 10%
    ROIC - WACC
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
    ✗Greenblatt> 25%
    Current Ratio Change YoY0.17 -> 0.16
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.40x -> 0.48x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities0.16
    ✗Dreman> 1.5
    Return on Invested CapitalN/A (non-positive invested capital)
    ✗Munger> 15%
    ROIC (high and growing)FY2022: ROIC=unavailable; FY2023: ROIC=unavailable; FY2024: ROIC=unavailable
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)
    ✗SleepROIC > 12% in a majority of years
  • Profitability6% pass✓ 8✗ 27▾

    15 of 16 flag NVNI's profitability — Graham, Buffett, Lynch +12 more

    Positive EPS (10 years)0/5 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)4/5 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)8.5% (latest)
    ✓BuffettStable or rising over 10 years
    Free Cash Flow Proxy$16.9M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROEN/A (negative equity)
    ✗Lynch> 15%
    EBIT / Enterprise Value68.8%
    ✓Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=68.8%, ROC=N/A (invested capital <= 0)
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets21.26%
    ✓PiotroskiROA > 0
    ROA Change YoY60.67% -> 21.26% (delta: -39.41%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=9.52%, ROA=21.26%
    ✗PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY60.9% -> 63.4%
    ✓PiotroskiImproved YoY
    Pre-Tax Income / Revenue-35.5%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity
    ✗Dreman> 12%
    Margin of Safety
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency4/4 years positive
    ✓MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue8.5%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-76.8% (2022) -> 8.5% (2024)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 57.6% -> 63.4%, operating margin -76.8% -> 8.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization+214.83%; #60/6340 (top 0.9%)
    ✓AsnessTop 30% of eligible cross-section✓OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+30.22%; #1417/3702 (top 38.3%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.1674; #4042/5884 (top 68.7%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Verdicts7% pass✓ 1✗ 13▾

    Split decision: 13 FAIL · 2 NEUTRAL · 1 PASS

    Overall verdict
    ✗GrahamFAIL (0/9)✗BuffettFAIL (1/9)✗LynchFAIL (2/7)•GreenblattNot ranked✓PiotroskiPASS (F-Score 5)✗DremanFAIL (1/11)✗MungerFAIL (1/4)✗PabraiFAIL (1/3)✗AkreFAIL (1/6)✗MarksFAIL (2/5)✗AckmanFAIL (3/9)✗TempletonFAIL (3/8)✗SleepFAIL (2/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (2/6)✗SchlossFAIL (0/7)•OshaughnessyNEUTRAL (Not ranked)
  • Growth13% pass✓ 3✗ 10▾

    7 of 8 flag NVNI's growth — Graham, Lynch, Dreman +4 more

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$-0.99 (2021) -> $-0.42 (2024)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency4/4 years positive
    ✓MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth29.3%
    ✓Ackman>= 5%
    Positive EPS Growth Frequency1/3 years with positive EPS growth
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 57.6% -> 63.4%, operating margin -76.8% -> 8.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Debt & Leverage17% pass✓ 2✗ 13▾

    10 of 12 flag NVNI's debt & leverage — Graham, Buffett, Lynch +7 more

    LT Debt vs Net Current Assets
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: N/A (negative equity), IC: N/A
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / EquityN/A (negative equity)
    ✗Lynch< 0.33
    Cash - Long-term Debt
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 0.00%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities0.16
    ✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity
    ✗Dreman< 0.8✗Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✗SchlossD/E < 1.00x
    Debt LevelsN/A (non-positive equity)
    ✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=N/A (no interest expense), D/EBITDA=0.1x
    ✓MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity
    ✗Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)
    ✗AsnessTop 30% of eligible cross-section
  • Valuation23% pass✓ 9✗ 19▾

    10 of 13 flag NVNI's valuation — Graham, Lynch, Greenblatt +7 more

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value68.8%
    ✓Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=68.8%, ROC=N/A (invested capital <= 0)
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)2.9x
    ✓Dreman< 8x
    Price / Book Value per ShareN/A (negative BVPS)
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=91.9%
    ✓MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=91.6%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical Average
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share3.1x
    ✓Ackman<= 25
    Price vs. Trailing Low100% of trailing low ($0.53)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization+214.83%; #60/6340 (top 0.9%)
    ✓AsnessTop 30% of eligible cross-section✓OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization-3.0040; #6171/6449 (top 95.7%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per ShareN/A (non-positive TBVPS)
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+4.8186; #559/5247 (top 10.7%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+91.62%; #61/4519 (top 1.3%)
    ✓OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-62.05%; #5449/6202 (top 87.9%)
    ✗OshaughnessyTop 10% of eligible cross-section

Business & financials

Financial snapshot: annual FY 2024. Current investor scores may use newer quarterly data.

Company Profile

Industry: Business Services
Size: Micro Cap($6.5M)
Revenue: $31.3M-10.2% YoY
Net Income: $13.9M-73.4% YoY

Financial Snapshot

Operating Margin8.5%
Return on Equity-71.5%
Debt / Equity-0.02
Current Ratio0.16
EPS (Diluted)$-0.42
Shares Retired−24.6%

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Shareholder Return

Fiscal 2024

Issued 24.6% of shares last year.

Buybacks
—
Dividends
—

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2024
Sources
  • 20-F · 2025-04-30
FY 2023
Sources
  • 20-F/A · 2025-02-03
FY 2022
Sources
  • 20-F/A · 2025-02-03
FY 2021
Sources
  • 20-F/A · 2025-02-03
FY 2020
Sources
  • 20-F/A · 2025-02-03
Market Cap$6.5Mcurrent$721.1Mest.$1.8Best.$1.6Best.--
Revenue$31.3M↓10%$34.8M↑48%$23.6M↑29%$18.2M--
Operating Income$2.7M↑107%-$39.0M↓115%-$18.1M↓184%-$6.4M--
Net Income$13.9M↓73%$52.5M↑143%$21.6M↑37%$15.8M--
EPS (Diluted)$-0.42↑81%$-2.21↓80%$-1.23↓24%$-0.99--
Gross Margin63.4%↑4%60.9%↑6%57.6%↓4%60.1%—
Operating Margin8.5%↑108%-112.0%↓46%-76.8%↓120%-34.9%—
ROE-71.5%↑84%-439.5%↓280%-115.8%↑45%-211.1%—
Total Debt$306.1K↓2%$313.2K↑50%$208.2K↓32%$304.3K--
Shareholders' Equity-$19.5M↓63%-$11.9M↑36%-$18.7M↓150%-$7.5M↓1098%-$622.8K
Current Ratio0.16↓2%0.17↑175%0.06——
Debt / Equity-0.02↑40%-0.03↓135%-0.01↑73%-0.04—
Operating Cash Flow$6.2M↑978%$579.2K↓78%$2.7M↑297%-$1.4M--
Free Cash Flow$5.9M↑3892%-$156.9K↓106%$2.4M↑254%-$1.6M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

NVNI vs Peers — Financial Grading

Revenue$31.3MBottom 25%
Net Income$13.9MMedian
ROE-71.5%Bottom 25%
D/E-0.02Top 25%
Op. Margin8.5%Top 25%
Curr. Ratio0.16Bottom 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
AUTOMATIC DATA PROCESSING INCADP$122.3B$309.93$21.9B$4.4B73.2%0.8224.2%1.054/95/93/70/3F-Score 65/11
ELECTRONIC ARTS INC.EA$52.9B$209.70$7.5B$887.0M13.1%0.2215.4%1.051/94/94/70/3F-Score 66/11
Rubrik, Inc.RBRK$22.6B$109.88$1.3B$348.8M67.1%—-26.2%1.691/90/92/70/3F-Score 62/11
AECOMACM$9.1B$70.50$16.1B$561.8M22.5%1.096.4%1.141/93/93/71/3F-Score 82/11
COMMVAULT SYSTEMS INCCVLT$6.2B$152.07$1.2B$70.7M942.8%—6.3%1.951/92/94/70/3F-Score 66/11
WPP plcWPP$6.0B$27.79$18.2B$289.5M-8.5%1.942.8%0.891/92/91/70/3F-Score 32/11
VARONIS SYSTEMS INCVRNS$5.6B$48.94$623.5M$129.3M-21.6%0.76-23.5%1.971/90/91/70/3F-Score 51/11
ROBERT HALF INC.RHI$4.3B$42.00$5.4B$133.0M10.4%—1.4%1.532/95/91/70/3F-Score 52/11