The Discounted Cash Flow (DCF) valuation of NH Hotel Group SA (NHH.MC) is 8.68 EUR. With the latest stock price at 6.39 EUR, the upside of NH Hotel Group SA based on DCF is 35.8%.

Is NHH.MC a buy or a sell?

Based on the latest price of 6.39 EUR and our DCF valuation, NH Hotel Group SA (NHH.MC) is a buy. Buying NHH.MC stocks now will result in a potential gain of 35.8%.

	Range	Selected
WACC / Discount Rate	4.9% - 6.8%	5.9%
Long-term Growth Rate	0.0% - 1.0%	0.5%
Fair Price	5.96 - 13.34	8.68
Upside	-6.8% - 108.8%	35.8%

6.39 EUR

Stock Price

8.68 EUR

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

NHH.MC DCF Valuation: Revenue & Expenses Forecast

(EUR in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	2,418	2,376	2,452	2,501	2,551	2,602
% Growth	12%	-2%	3%	2%	2%	2%

Cost of goods sold	(388)	(381)	(393)	(401)	(409)	(417)
% of Revenue	16%	16%	16%	16%	16%	16%

Selling, G&A expenses	(912)	(896)	(925)	(943)	(962)	(981)
% of Revenue	38%	38%	38%	38%	38%	38%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(852)	(837)	(864)	(881)	(899)	(917)
% of Revenue	35%	35%	35%	35%	35%	35%

Tax expense	(49)	(48)	(50)	(51)	(52)	(53)
Tax rate	18%	18%	18%	18%	18%	18%

Net profit	218	214	221	225	230	235
% Margin	9%	9%	9%	9%	9%	9%