olivLaw · European equity research
Nueva Expresión Textil, S.A. NXT.MC
Spain · BME Madrid · ISIN ES0126962069 · Vertical: Listed companies from Spain
Nueva Expresion Textil, known as Nextil, is an industrial textile group with operations in several units, including garment and fabric production, plus subsidiaries in Portugal and Guatemala. Concentration of sales in a few large clients and exposure to variable-rate debt linked to Euribor are the main points to watch in the 2025 annual report.
At the close of 05 Nov 2026, Nueva Expresión Textil, S.A. (NXT.MC) stock was 0.96 EUR (−1.94% on the day), with market capitalisation 329.3 m EUR, P/E 105.3 on diluted EPS of 0.01 EUR over the last 12 months, beta 0.55, 52-week range 0.73–1.19 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.5
- weak (30–45)
- Bollinger (20, 2)
- 0.92 – 1.05
- in the lower half of the band · %B 0.28 · band width 13.0%
- SMA 50 / 200
- 1.03 / 0.97
- mixed trend
- MACD (12, 26, 9)
- -0.02 / -0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −7.7% | −0.6% | −7.1 pp | — |
| 3 months | −12.4% | −4.2% | −8.3 pp | — |
| 6 months | +8.7% | +4.3% | +4.4 pp | — |
| Year to date | +4.1% | +7.5% | −3.4 pp | — |
| 1 year | +29.1% | +9.9% | +19.2 pp | +6.7% |
| 3 years | +125.9% | +49.8% | +76.1 pp | +31.5% |
| 5 years | +93.5% | +42.8% | +50.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 42.4, median 71.8, max 101.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 38.9 m | 24.0 m | 30.4 m |
| Revenue YoY | unavailable | −38.2% | +26.6% |
| Net income | -9.0 m | 3.0 m | 3.7 m |
| Net income YoY | unavailable | unavailable | +21.9% |
| Diluted EPS | -0.03 | 0.01 | 0.01 |
| Diluted EPS YoY | unavailable | unavailable | +4.6% |
| net % | -23.1% | 12.6% | 12.1% |
| Free cash flow | -10.7 m | -6.4 m | -7.4 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.7 m EUR
- Financial debt
- 15.9 m EUR
- Net debt
- 10.2 m EUR
- Equity
- 12.7 m EUR
- Total assets
- 64.6 m EUR
- Debt / equity
- 1.26x
- Current ratio
- 0.75x
- ROE
- unavailable
- ROA
- 6.7%
- FCF margin
- -24.4%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 38.9 m | 24.0 m | 30.4 m | esef· 20 Oct 2026verified |
| Cost of revenue | 21.9 m | 11.5 m | 13.6 m | esef· 20 Oct 2026verified |
| Gross profit | 17.0 m ≈ | 12.5 m ≈ | 16.8 m ≈ | esef· 20 Oct 2026derived |
| Operating income | -6.8 m | 3.2 m | 5.4 m | esef· 20 Oct 2026verified |
| Depreciation & amortisation | 3.3 m | 2.1 m | 3.6 m | esef· 20 Oct 2026verified |
| EBITDA | -3.5 m ≈ | 5.4 m ≈ | 9.0 m ≈ | esef· 20 Oct 2026derived |
| Interest expense | 6.2 m | 6.2 m | 3.3 m | esef· 20 Oct 2026verified |
| Pre-tax income | -10.7 m | 3.4 m | 4.9 m | esef· 20 Oct 2026verified |
| Income tax | -331.0 k | 417.0 k | 1.2 m | esef· 20 Oct 2026verified |
| Net income | -9.0 m | 3.0 m | 3.7 m | esef· 20 Oct 2026verified |
| Diluted EPS | -0.03 | 0.01 | 0.01 | esef· 20 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.4 m | 782.0 k | 5.7 m | esef· 20 Oct 2026verified |
| Receivables | 6.4 m | 3.9 m | 15.1 m | esef· 20 Oct 2026verified |
| Inventories | 3.3 m | 3.7 m | 4.2 m | esef· 20 Oct 2026verified |
| Current assets | 12.5 m | 8.5 m | 25.5 m | esef· 20 Oct 2026verified |
| Property, plant & equipment, net | 15.0 m | 22.7 m | 20.0 m | esef· 20 Oct 2026verified |
| Goodwill | 369.0 k | 369.0 k | 222.0 k | esef· 20 Oct 2026verified |
| Total assets | 41.2 m | 46.4 m | 64.6 m | esef· 20 Oct 2026verified |
| Accounts payable | 7.6 m | 7.2 m | 12.7 m | esef· 20 Oct 2026verified |
| Long-term debt | 27.8 m | 26.2 m | 15.9 m | esef· 20 Oct 2026verified |
| Current liabilities | 30.2 m | 24.9 m | 34.2 m | esef· 20 Oct 2026verified |
| Equity | 38.0 m | -7.2 m | 12.7 m | esef· 20 Oct 2026verified |
| Shares outstanding at year end | 343.8 m | — | — | esef· 08 May 2025derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -6.5 m | 1.8 m | -3.4 m | esef· 20 Oct 2026verified |
| Capex | 4.2 m | 8.2 m | 4.0 m | esef· 20 Oct 2026verified |
| Free cash flow | -10.7 m ≈ | -6.4 m ≈ | -7.4 m ≈ | esef· 20 Oct 2026derived |
| Investing cash flow | 672.0 k | -8.2 m | -5.2 m | esef· 20 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 29 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 329.3 m EUR
Key indicators
Coverage and freshness
Score by group
- Valuation2
- Balance sheet42
- Quality54
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.14 – 0.21 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/E0.14 – 0.21 (Mid 0.18)18 companies used · median multiple 19.9x · quartiles 15.2x – 22.7xACS.MC, ADX.MC, AEDAS.MC, AENA.MC, AMS.MC, ANA.MC, CAF.MC, CLEO.MC, CMO.MC, DESA.MC, DIA.MC, EAT.MC, EDR.MC, ELE.MC, ENER.MC, ENO.MC, FAE.MC, FCC.MC
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Unattractive profile · Score 29/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 19.9% | 71 (vs peers) | 14% |
| Net margin · Quality | 12.1% | 78 (vs peers) | 9% |
| FCF conversion · Quality | -200.6% | 0 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 1.1x | 82 (on a fixed band) | 14% |
| Interest coverage · Balance sheet | 1.6x | 2 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 105.3x | 5 (vs peers) | 14% |
| EV/EBITDA · Valuation | 37.6x | 0 (on a fixed band) | 14% |
| FCF yield · Valuation | -2.3% | 0 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet42/100 · 3/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality54/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation2/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
NUEVA EXPRESION TEXTIL SA (NXT.MC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 30.4 m EUR in 2025; YoY growth 26.6%; net margin 12.1%; net debt/EBITDA 1.1x.
The estimated value range is 0.14–0.21 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.18 EUR, the price of 0.96 EUR leaves a potential of -81.1% (value / price − 1) and a margin of safety of -429.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 29/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 19.9%
- Net margin: 12.1%
- Net debt / EBITDA: 1.1x
What contradicts it
- FCF conversion: -200.6%
- Interest coverage: 1.6x
- Current ratio: 0.7x
- P/E (TTM): 105.3x
- EV/EBITDA: 37.6x
- FCF yield: -2.3%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Spain · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ELE.MCEndesa SA | 46.9 bn | 21.4 | 26.4% | 10.5% | +0.5% | +43% / +134% |
| AENA.MCAena S.m.e. SA | 42.6 bn | 19.9 | 24.2% | 34.0% | +8.9% | +21% / +79% |
| AMS.MCAmadeus It Group Sociedad Anonima | 26.2 bn | 19.8 | 26.9% | 20.5% | +6.1% | −6% / −5% |
| ACS.MCAcs Actividades De Construccion Y Servicios, S.A. | 21.9 bn | 23.0 | 19.9% | 1.9% | +19.7% | +7% / +134% |
| ANA.MCAcciona SA | 11.7 bn | 14.5 | 16.9% | 4.0% | +5.5% | +24% / +66% |
| FCC.MCFomento De Construcciones Y Contratas S.A. | 5.0 bn | 30.3 | 5.3% | 1.7% | +6.9% | −8% / −14% |
| DIA.MCDistribuidora Internacional De Alimentacion SA | 2.7 bn | 20.6 | 165.6% | 2.2% | −2.7% | +51% / +380,733% |
| CMO.MCCementos Molins S.A. | 2.5 bn | 13.6 | 14.3% | 18.0% | −3.1% | +31% / unavailable |
| ENO.MCElecnor SA | 2.4 bn | 21.9 | 10.5% | 2.5% | +15.1% | −3% / +58% |
| ALM.MCAlmirall S.A. | 2.4 bn | 51.1 | 3.1% | 4.2% | +12.4% | −11% / +32% |
| FAE.MCFaes Farma SA | 1.5 bn | 19.3 | 10.8% | 13.0% | +23.7% | +3% / +57% |
| AEDAS.MCAedas Homes SA | 1.0 bn | 17.1 | 57.8% | 7.0% | −24.8% | +0% / +38% |
| EDR.MCEdreams Odigeo SA | 574.4 m | 11.5 | 21.0% | 7.8% | −0.4% | +40% / −24% |
| EAT.MCAmRest Holdings SE | 506.0 m | 31.4 | 4.3% | 0.6% | +0.1% | −34% / −61% |
| ADX.MCAudax Renovables S.A. | 468.5 m | 23.9 | 9.3% | 1.0% | −5.4% | −23% / −18% |
| NXT.MCNueva Expresion Textil SA | 329.3 m | 105.3 | — | 12.1% | +26.6% | +9% / +156% |
| ATRY.MCAtrys Health, S.A. | 200.4 m | — | -49.5% | -71.1% | +8.5% | −3% / −29% |
| ENER.MCEcoener, S.A. | 175.6 m | 32.2 | 4.2% | 6.4% | +3.6% | −34% / −6% |
| ADZ.MCAdolfo Dominguez SA | 62.9 m | 38.3 | 9.0% | 1.2% | +1.8% | +39% / +40% |
| DESA.MCDesarrollos Especiales De Sistemas De Anclaje S.A. | 44.8 m | 9.2 | 152.3% | 10.0% | +2.2% | +19% / unavailable |
| EZE.MCGrupo Ezentis SA | 29.0 m | — | — | -9.3% | +147.2% | −30% / −37% |
| CLEO.MCCompañia Levantina De Edificacion Y Obras Publicas SA | 17.3 m | 14.4 | 4.1% | 3.4% | +13.4% | unavailable / unavailable |
| AYC.MCAyco Grupo Inmobiliario, S.A. | 16.4 m | — | -33.8% | — | −100.0% | unavailable / unavailable |
| EBRO.MCEbro Foods, S.A. | 3.0 m | 0.0 | 10.0% | 7.7% | −4.0% | −0% / +19% |
| A3M.MCAtresmedia Corporacion De Medios De Comunicacion, S.A. | — | — | 7.9% | 6.9% | −2.7% | +13% / +60% |
1- and 3-year price returns: for NXT.MC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.74 Total return -23% · Per year -23% | 1.30 Total return 36% · Per year 36% | 1.95 Total return 104% · Per year 104% |
| 3 years | 0.88 Total return -8% · Per year -3% | 1.72 Total return 80% · Per year 22% | 2.81 Total return 193% · Per year 43% |
| 5 years | 1.04 Total return 9% · Per year 2% | 2.28 Total return 138% · Per year 19% | 4.05 Total return 322% · Per year 33% |
- Exit P/E± 0.43
- Net margin± 0.30
- Annual revenue growth± 0.22
- Annual dilution± 0.03
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Nueva Expresion Textil, known as Nextil, is an industrial textile group with operations in several units, including garment and fabric production, plus subsidiaries in Portugal and Guatemala. Concentration of sales in a few large clients and exposure to variable-rate debt linked to Euribor are the main points to watch in the 2025 annual report 1.
SWOT
Strengths
- The group has contracts with important clients and a credit policy that limited losses from insolvencies in the reported period 1.
- Its structure across several companies and units allows diversification of production and service activities 1.
- Risk management is governed by policies approved by the board and updated periodically 1.
Weaknesses
Opportunities
Risks
- Client concentrationhigh
Five clients account for most of sales, and one individual client has a decisive weight 1.
- Interest rate riskmedium
Debt with variable rates linked to Euribor exposes the group to higher financing costs, and the group estimates an extra annual cost of about 224 thousand euros for a 50 basis point rise 1.
- Currency riskmedium
Net assets in Guatemala are exposed to exchange rates, and the group has no formalised hedging contracts 1.
- Credit risklow
Although insolvency losses were limited, maximum credit exposure relates to client balances not covered by insurance 1.
- Liquidity riskmedium
Reliance on funding from the majority shareholder and revolving credit could limit financial flexibility if conditions worsen 1.
Investment thesis
What would need to be true (bull case)
- If relationships with major clients remain stable, the group could maintain a predictable sales level over the medium term 1.
- Credit policy and collection controls could continue to limit insolvency losses 1.
- Geographic diversification through the Portuguese and Guatemalan subsidiaries could support long-term growth 1.
What would break the thesis
What to watch
- Share of sales from the largest clients in consolidated revenue2026
- Level of financing costs and the effect of Euribor movements on variable-rate debt2026
- Results of the Guatemalan subsidiary and the effect of exchange rates on net assets2026
- Results in the next annual report and any changes to risk management policiesnext annual report 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The Nextil group comprises several companies, including Qualitat Tecnica Textil, Tripoli Investments, Horizon Research Lab and Horizon Galicia, which are taxed under consolidated tax filing 1. Its core activity is the sale of textile goods, with revenue recognised when control of the goods passes to the client, and volume and early-payment discounts deducted from sales 1. The group also provides services and holds investments in foreign businesses, including in Guatemala 1.
Its financing relies largely on debt owed to the majority shareholder, a revolving credit contract, bank loans and convertible bonds, and part of the funding carries variable interest 1. The group holds no derivative contracts to hedge interest rate or exchange rate risk 1.
Risk management policies are approved by the Board of Directors and implemented by the Finance Department, and they were updated during 2025 1.
Segments
Market context
The group operates in the textile and garment industry, where industrial clients buy under contracts and may receive discounts for volume or prompt payment 1. Client concentration is the main factor shaping its commercial dynamics in the 2025 annual report 1. Foreign exposure through the Portuguese and Guatemalan subsidiaries adds operational complexity 1.
The group states it holds no significant amounts in currencies other than the functional currency of each company, apart from its Guatemalan investments, which are exposed to exchange rate risk 1. Financing conditions depend on interest rate markets, mainly Euribor 1.
Trends
- Rising interest ratesheadwind
Higher market interest rates could increase the group's financing costs, since part of its debt carries variable rates linked to Euribor 1. If rates rise, results and cash flows could be affected 1.
- Client concentrationmixed
Reliance on a small number of large clients can support predictable volumes but also raises vulnerability if a key client reduces orders 1.
- Credit policy and collection risktailwind
The group's credit policy and collection controls helped avoid relevant insolvencies in 2025 and 2024, and the Portuguese subsidiaries renewed their credit insurance 1.
- Foreign exchange exposuremixed
Guatemalan investments are exposed to currency movements, and the group manages this risk through debt in the relevant currencies, without formalised hedging instruments 1.
Competitive position
The analysed sources do not explicitly name the group's competitors, so its competitive position cannot be described from the annual report alone 1. Competition can only be assessed against information from other sources.
The dependence on large clients suggests the group competes mainly to keep these contractual relationships, and losing a major client would have significant effects 1.
- Competitors not named in the source
The annual report does not name competitors, so no tickers can be assigned.
- Other Iberian textile producers
General category not named in the source; entities cannot be verified.
- Portuguese fabric and garment suppliers
General category not named in the source; no exchange ticker.
- Central American producers
General category that may include competitors in the Guatemalan operating area; not named in the source.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202520 Oct 2026
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Nueva Expresión Textil, S.A. · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.