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Nexxen International Ltd. (formerly Tremor International) is a global ad-tech platform that provides a unified solution for video, data, and Connected TV (CTV) advertising.
Investment Thesis
Nexxen is a deep-value play in the rapidly consolidating ad-tech sector. The company has successfully built a vertically integrated stack—owning both the demand-side platform (DSP) and the supply-side platform (SSP). This allows them to capture more of the ad-spend 'margin' and provide better data attribution for clients. Their heavy focus on Connected TV (streaming) positions them in the fastest-growing segment of the digital ad market. After a period of aggressive acquisitions, Nexxen is now focusing on integration and debt reduction, which will drive significant equity returns.
Key Growth Drivers
Connected TV (CTV) Tailwind
As traditional TV budgets migrate to streaming platforms, Nexxen's specialized video ad tools are seeing accelerating demand.
Vertical Integration Moat
By controlling both sides of the ad transaction, Nexxen reduces 'tech fees' and provides superior results for advertisers compared to fragmented competitors.
Massive Buyback Support
Management is using its significant free cash flow to aggressively retire shares at distressed multiples, rapidly accreting value to remaining holders.
Valuation & Financial Modeling
Nexxen trades at a significant discount to pure-play ad-tech peers like The Trade Desk. While they lack TTD's scale, the valuation gap is absurdly wide. Even a partial narrowing of this gap would result in a multi-bagger return for the stock.
Risk Factors & Bear Case
The ad-tech market is highly sensitive to changes in privacy regulations and browser cookie policies (e.g., Google's Privacy Sandbox). Additionally, Nexxen competes against massive tech giants with significantly more resources.
Conclusion
Nexxen is a high-risk, high-reward value play in digital advertising. For investors willing to bet on the CTV transition and ad-tech consolidation, the stock offers massive upside torque. Rated 'Speculative Strong Buy'.
Upcoming Catalysts
No upcoming catalysts identified.
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Relative valuation derived from Technology sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 44.4GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
26.7%
Sector: -1.4%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, Nexxen International Ltd. (NEXN) receives a "Hold" rating with a composite score of 50.6/100, ranked #551 out of 4446 stocks. Key factor scores: Quality 44/100, Value 96/100, Momentum 40/100. This is quantitative analysis only — not investment advice.
Nexxen International Ltd. (NEXN) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Nexxen International Ltd. Do?
Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns. It serves ad buyers, advertisers, brands, agencies, and digital publishers in the United States, the Asia-Pacific, Europe, the Middle East, and Africa. The company was formerly known as Tremor International Ltd and changed its name to Nexxen International Ltd. in January 2024. Nexxen International Ltd. was incorporated in 2007 and is headquartered in Tel Aviv-Yafo, Israel. Nexxen International Ltd. (NEXN) is classified as a small-cap stock in the Technology sector, specifically within the Computer Software industry. The company is led by CEO Ofer Druker and employs approximately 895 people. With a market capitalization of $364M, NEXN is one of the notable companies in the Technology sector.
Nexxen International Ltd. (NEXN) Stock Rating — Hold (April 2026)
As of April 2026, Nexxen International Ltd. receives a Hold rating with a composite score of 50.6/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.NEXN ranks #551 out of 4,446 stocks in our coverage universe. Within the Technology sector, Nexxen International Ltd. ranks #37 of 584 stocks, placing it in the top 10% of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
NEXN Stock Price and 52-Week Range
Nexxen International Ltd. (NEXN) currently trades at $6.85. The stock gained $0.01 (0.1%) in the most recent trading session. The 52-week high for NEXN is $12.60, which means the stock is currently trading -45.6% from its annual peak. The 52-week low is $5.60, putting the stock 22.3% above its annual trough. Recent trading volume was 226K shares, suggesting relatively thin trading activity.
Is NEXN Overvalued or Undervalued? — Valuation Analysis
Nexxen International Ltd. (NEXN) carries a value factor score of 96/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The price-to-book ratio stands at 0.69x, versus the sector average of 3.16x. The price-to-sales ratio is 0.25x, compared to 1.06x for the average Technology stock. On an enterprise value basis, NEXN trades at 0.48x EV/EBITDA, versus 12.79x for the sector.
Based on these multiples, Nexxen International Ltd. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
Nexxen International Ltd. Profitability — ROE, Margins, and Quality Score
Nexxen International Ltd. (NEXN) earns a quality factor score of 44/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 26.7%, compared to the Technology sector average of -1.4%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 16.9% versus the sector average of -1.0%.
On a margin basis, Nexxen International Ltd. reports gross margins of 83.3%, compared to 50.9% for the sector. The operating margin is 11.2% (sector: -0.5%). Net profit margin stands at 9.7%, versus -1.5% for the average Technology stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
NEXN Debt, Balance Sheet, and Financial Health
Nexxen International Ltd. has a debt-to-equity ratio of 4.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. Total debt on the balance sheet is $23M. Cash and equivalents stand at $187M.
NEXN has a beta of 1.07, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Nexxen International Ltd. is 43/100, reflecting average volatility within the normal range for its sector.
Nexxen International Ltd. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Nexxen International Ltd. reported revenue of $365M. Net income for the quarter was $35M. Gross margin was 83.3%. Operating income came in at $41M.
In FY 2024, Nexxen International Ltd. reported revenue of $365M. Net income for the quarter was $35M. Gross margin was 83.3%. Revenue grew 10.1% year-over-year compared to FY 2023. Operating income came in at $41M.
In FY 2023, Nexxen International Ltd. reported revenue of $332M. Net income for the quarter was $-21M. Gross margin was 81.2%. Operating income came in at $-17M.
NEXN Dividend Yield and Income Analysis
Nexxen International Ltd. (NEXN) does not currently pay a dividend. This is common among smaller companies in the Computer Software industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.
NEXN Momentum and Technical Analysis Profile
Nexxen International Ltd. (NEXN) has a momentum factor score of 40/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 73/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 13/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
NEXN vs Competitors — Technology Sector Ranking and Peer Comparison
Within the Technology sector, Nexxen International Ltd. (NEXN) ranks #37 out of 584 stocks based on the Blank Capital composite score. This places NEXN in the top decile of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.
Comparing NEXN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full NEXN vs S&P 500 (SPY) comparison to assess how Nexxen International Ltd. stacks up against the broader market across all factor dimensions.
NEXN Next Earnings Date
No upcoming earnings date has been announced for Nexxen International Ltd. (NEXN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy NEXN? — Investment Thesis Summary
Nexxen International Ltd. presents a balanced picture with arguments on both sides. The value score of 96/100 suggests attractive pricing relative to fundamentals.
In summary, Nexxen International Ltd. (NEXN) earns a Hold rating with a composite score of 50.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on NEXN stock.
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Execution Benchmarks audit
Gross Margin
Core pricing power
83.3%
Sector: 50.9%
+64% VS SCTR
Operating Margin
Operating efficiency
11.2%
Sector: -0.5%
-2391% VS SCTR
Net Margin
Bottom-line conversion
9.7%
Sector: -1.5%
-744% VS SCTR
Return on Equity
Equity capital efficiency
26.7%
Sector: -1.4%
-1954% VS SCTR
Return on Assets
Asset base utilization
16.9%
Sector: -1.0%
-1856% VS SCTR
Debt/Equity
Financial leverage load
4.0%
Sector: 43.0%
+91% VS SCTR
-78%
Price / Sales
0.3x
-76%
Nexxen International Ltd. exhibits a 86% valuation discount relative to institutional benchmarks. This represents a constructive entry window based on current multiples.
Return on Assets
Efficiency of asset utilization
16.9%
Sector: -1.0%
Gross Margin
Pricing power and cost efficiency
83.3%
Sector: 50.9%
Operating Margin
Core business profitability
11.2%
Sector: -0.5%
Net Margin
Bottom-line profitability
9.7%
Sector: -1.5%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.