Growth & profitability
- Revenue has declined 14.4% per year over the past 2 years.
- Operating margin has contracted, at -10.9% in the latest year.
Financial health
- Operating income covered interest expense -3.6× in the latest year.
NCL Financials Northann Corp.
3 years of revenue, profit, cash flow and balance-sheet history through FY2024, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2024 | $15M | -$4M | 25.9% | -10.9% | — | — | $245164 |
| 2023 | $14M | -$7M | 8.7% | -34.1% | — | — | — |
| 2022 | $21M | $929059 | 27.5% | 9.9% | — | — | — |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $5M | -$3M | -10.0% | -57.5% | — | — | $239641 |
| Sep '25 | $4M | -$9M | -40.6% | -246.9% | — | — | $40883 |
| Jun '25 | $2M | -$2M | -53.6% | -128.6% | — | — | $1M |
| Mar '25 | $3M | -$3M | 11.4% | -74.9% | — | — | — |
| Dec '24 | $4M | -$4M | -2.2% | -32.2% | — | — | $245164 |
| Sep '24 | $3M | $496565 | 63.7% | 21.6% | — | — | — |
| Jun '24 | $4M | -$997495 | 23.2% | -30.0% | — | — | — |
| Mar '24 | $5M | $60035 | 33.6% | 7.1% | — | — | — |
| Dec '23 | $5M | -$4M | 7.2% | -75.2% | — | — | — |
| Sep '23 | $2M | -$3M | -58.5% | -88.4% | — | — | — |
| Jun '23 | $5M | -$697087 | 19.9% | 3.6% | — | — | — |
| Mar '23 | $3M | $185466 | 45.7% | 14.5% | — | — | — |
| Dec '22 | $1M | $694982 | 69.5% | 113.4% | — | — | — |
| Sep '22 | $5M | $499300 | 52.3% | 13.1% | — | — | — |
Valuation over time
How the market has priced NCL against its own fundamentals since 2023-10 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 629.3× (Oct '23) to 84.7× (Dec '23).
- The price-to-sales ratio has fallen from 27.9× (Oct '23) to 0.5× (Jun '26).
P/E
P/S
Frequently asked questions
Is NCL growing its revenue and profit?
Over the past 2 years, Northann Corp.'s revenue has declined 14.4% per year. These are computed facts, not advice.
How much debt does NCL have?
As of FY2024, Northann Corp. reported — of total debt against $245164 of cash; operating income covered interest expense -3.6×.
What is NCL's profit margin?
In FY2024, gross margin was 25.9%, operating margin -10.9%, and net margin -28.5%.
What is NCL's P/E ratio?
As of Jun '26, Northann Corp. traded at a price-to-earnings ratio of about 84.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.