NICE Ltd. NICE

Information TechnologySoftware & IT ServicesIsrael

Last close 113.76 USD on Nov 1, 2026, +0.6% year to date

Quant rating

Quant rating B Rank 35 of 200 in Information Technology

Growth B 69 of 200
Valuation B 30 of 200
Quality B 34 of 200
Revisions B 75 of 200
Momentum C 87 of 200

Wall Street consensus Buy (2.25)Average target 130.56 USD +14.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 6.6B
Enterprise value: 6.3B
52-week range: 83.10 – 138.50
3-year range: 83.10 – 261.57
Dividend yield: –
Beta (5 years): 0.78
Shares outstanding: 58.4M
Next earnings: Nov 11, 2026

About the company

NICE Ltd., formerly NICE-Systems Ltd., is a global enterprise software provider. The Company's segments include Customer Interactions Solutions and Financial Crime and Compliance Solutions. The Customer Interactions Solutions segment provides data-driven insights that enable businesses to deliver personalized experiences to customers. The Financial Crime and Compliance Solutions segment provides real-time and cross-channel fraud prevention, anti-money laundering, brokerage compliance, and enterprise-wide case management. The Company serves contact centers, back-office operations, and retail branches across various industries, including communications, banking, insurance, healthcare, business process outsourcing (BPO), government, utilities, travel, and entertainment. Its multi-channel recording and interaction management solutions enable organizations to capture structured and unstructured customer interaction and transaction data from multiple channels.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,945	2,735	2,378	2,181	1,921	–
Revenue growth	7.7%	15.0%	9.0%	13.5%	16.6%	12.3%
EPS (basic, normalized)	12.30	11.12	8.79	7.22	6.53	–
EPS growth	10.6%	26.5%	21.8%	10.5%	–	–
Gross margin	66.4%	66.7%	67.7%	68.7%	67.5%	67.4%
Net margin	20.8%	16.1%	14.2%	12.2%	10.4%	14.7%
ROE	16.4%	12.7%	10.5%	9.0%	7.4%	11.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	355
Current ratio	1.33x
Long-term debt (mil)	0
Net debt (mil)	−355
Total equity (mil)	3,778
Net debt / equity	−0.09x
Net debt / EBITDA	−0.35x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,945	+7.7%	2.1x	1,000	+2.7%	6.3x	12.30	+10.6%	9.2x
2026	3,182	+8.0%	2.0x	938	−6.1%	6.7x	11.17	−9.1%	10.2x
2027	3,470	+9.1%	1.8x	1,025	+9.2%	6.1x	12.67	+13.4%	9.0x
2028	3,865	+11.4%	1.6x	1,252	+22.1%	5.0x	15.40	+21.5%	7.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,182	0.0%	+0.1%	0.0%	11.17	0.0%	+0.8%	+2.1%
2027	3,470	0.0%	−0.3%	−0.7%	12.67	0.0%	+0.7%	+1.8%
2028	3,865	0.0%	−0.5%	−1.5%	15.40	0.0%	+0.4%	+1.6%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	659	664	690	722	700	727	732	786	769	782
Sales mean (mil)	655	663	683	715	700	713	728	780	761	766
Surprise	+0.6%	+0.1%	+0.9%	+0.9%	+0.1%	+1.9%	+0.5%	+0.8%	+1.0%	+2.1%
EPS reported	2.58	2.64	2.88	3.02	2.87	3.01	3.18	3.24	2.64	2.70
EPS mean	2.45	2.58	2.68	2.95	2.84	2.99	3.17	3.21	2.52	2.64
Surprise	+5.4%	+2.4%	+7.5%	+2.4%	+1.0%	+0.7%	+0.3%	+0.8%	+4.8%	+2.3%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
NICE NICE Ltd.	6.6B	−0.35x	20.8%	1.76x	10.2x	9.0x	6.7x	6.1x
RNG RingCentral, Inc.	6.9B	1.70x	1.7%	36.76x	16.0x	14.7x	10.8x	10.2x
Mean		0.67x	11.3%	19.26x	13.1x	11.8x	8.8x	8.2x
Median		0.67x	11.3%	19.26x	13.1x	11.8x	8.8x	8.2x

Technical analysis

1M+4.3%
3M+12.2%
1Y−16.9%
3Y−25.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, NICE Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,945	2,735	2,378	2,181	1,921	1,648
Cost of revenue	989	910	768	684	624	562
Gross profit	1,956	1,826	1,609	1,498	1,297	1,086
Selling, general & administrative expenses	941	916	837	856	760	624
Research & development	362	363	325	308	273	221
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	9.1	3.2	14.0	0	1.8	1.7
Other operating expenses	−1.9	−2.0	−2.4	−2.4	−2.1	−2.3
Operating income	646	546	435	335	264	242
Net interest income (expense)	60.5	62.6	25.1	12.4	−6.6	−2.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−2.2	−3.8	−2.6	−2.2	−16.7	−2.9
Net income before taxes	704	605	458	345	241	237
Provision for taxes	91.9	162	119	79.4	41.4	40.8
Minority interest	–	−3.1	−1.8	−0.8	0.4	0.3
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	612	439	336	265	200	197
Extraordinary items	–	–	–	–	–	–
Net income	612	439	336	265	200	197
EBIT, normalized	655	549	449	335	266	244
EBITDA, normalized	854	754	617	512	450	426
Basic EPS, normalized	12.30	11.12	8.79	7.22	6.53	–

Balance sheet in millions of USD, fiscal years

Balance sheet, NICE Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	417	1,622	1,408	1,572	1,425	1,464
Receivables	748	648	586	519	401	309
Total inventory	–	–	–	–	–	–
Prepaid expenses	110	106	90.0	95.1	76.7	81.5
Other current assets	104	129	229	231	396	88.1
Total current assets	1,379	2,505	2,313	2,417	2,298	1,942
Property, plant & equipment	267	278	279	262	231	235
Goodwill	2,441	1,850	1,822	1,617	1,607	1,503
Intangibles	588	231	306	210	295	366
Long-term investments	–	–	–	–	–	0
Note receivable	–	–	–	–	–	–
Other long-term assets	431	432	398	348	280	186
Total assets	5,106	5,296	5,118	4,854	4,710	4,233
Liabilities
Accounts payable	101	111	66.0	56.0	36.1	33.1
Payable/accrued	–	–	–	–	–	–
Accrued expenses	440	367	378	352	365	309
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0	459	209	209	396	260
Other current liabilities	347	538	468	524	473	443
Total current liabilities	888	1,474	1,120	1,141	1,270	1,044
Long-term debt	0	0	457	455	429	421
Minority interest	0	13.4	13.4	13.3	12.9	24.6
Other liabilities	342	218	186	202	174	179
Total liabilities	1,230	1,706	1,777	1,812	1,885	1,669
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	19.0	19.0	19.0	19.0	19.0	19.0
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	5,696	4,981	4,386	3,877	3,472	3,136
Treasury stock	−1,803	−1,339	−1,005	−743	−626	−574
Other equity	−35.7	−71.1	−59.1	−111	−39.7	−16.7
Total equity	3,877	3,590	3,341	3,042	2,825	2,564
Total liabilities & shareholders' equity	5,106	5,296	5,118	4,854	4,710	4,233

Cash flow statement in millions of USD, fiscal years

Cash flow statement, NICE Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	612	443	338	266	199	196
Depreciation, depletion & amortization	199	205	167	177	184	182
Deferred taxes	10.5	−40.3	−66.6	−52.6	−39.3	−33.2
Non-cash items	144	171	176	192	177	99.5
Changes in working capital	−249	54.5	−53.4	−103	−59.3	35.6
Cash from operations	717	833	561	480	462	480
Investing activities
Capital expenditures	−93.7	−99.8	−84.2	−81.9	−67.2	−63.3
Other investing cash flows	254	−298	−209	−70.5	−194	−402
Cash from investing	160	−397	−294	−152	−261	−465
Financing activities
Financing cash flow items	−36.5	102	−1.8	−0.4	−15.8	–
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−948	−558	−289	−164	−246	197
Cash from financing	−984	−457	−290	−164	−262	197
Foreign exchange effects	4.7	−6.9	2.6	−8.4	−2.1	1.9
Net change in cash	−103	−28.3	−19.8	154	−63.6	214
Free cash flow	623	733	477	398	395	417

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.