15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $869460 | -$28M | 95.4% | -957.1% | -189.9% | -135.4% | — | $2M | $289428 |
| 2024 | $5M | -$5M | 97.8% | -69.5% | -13.1% | -12.0% | — | $2M | $863182 |
| 2023 | $8M | $3M | 99.0% | 26.7% | 8.2% | 7.1% | — | $2M | $569441 |
| 2022 | — | $4M | — | — | 13.9% | 11.0% | — | $500000 | $473925 |
| 2021 | — | $1M | — | — | 10.4% | 5.7% | — | $2M | $2M |
| 2020 | — | $604851 | — | — | 89.1% | 27.3% | — | — | $11206 |
| 2019 | — | $582880 | — | — | -67.4% | 81.0% | — | — | — |
| 2018 | — | $131129 | — | — | -8.8% | 133.3% | — | — | — |
| 2017 | — | -$828121 | — | — | 32.0% | -4193.4% | — | — | — |
| 2016 | — | -$835874 | — | — | 46.9% | -119.1% | — | — | — |
| 2015 | — | -$485668 | — | — | 51.2% | -37.0% | — | — | — |
| 2014 | — | -$27985 | — | — | 3.9% | -1724.3% | — | — | — |
| 2014 | — | -$114131 | — | — | 16.1% | -3150.2% | — | — | — |
| 2013 | — | -$102542 | — | — | 14.7% | -9424.8% | — | — | — |
| 2013 | — | -$97659 | — | — | 14.1% | -7763.0% | — | — | — |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jan '26 | $94347 | -$2M | 98.1% | -2304.6% | -8.4% | -7.0% | — | $2M | $715443 |
| Oct '25 | $51076 | -$2M | 96.3% | -4149.6% | -9.9% | -8.4% | — | $2M | $2M |
| Jul '25 | $190058 | -$4M | 96.1% | -1728.8% | -15.7% | -12.8% | — | $2M | $5M |
| Apr '25 | $404023 | -$21M | 99.2% | -476.0% | -137.8% | -98.3% | — | $2M | $289428 |
| Jan '25 | $152682 | -$3M | 95.3% | -1105.4% | -8.6% | -7.5% | — | $2M | $614304 |
| Oct '24 | $170528 | -$2M | 88.4% | -1291.5% | -5.9% | -5.3% | — | $2M | $1M |
| Jul '24 | $142227 | -$3M | 92.8% | -1763.5% | -6.7% | -6.1% | — | $2M | $855181 |
| Apr '24 | $347175 | -$3M | 96.8% | -443.7% | -6.9% | -6.3% | — | $2M | $863182 |
| Jan '24 | $1M | -$2M | 94.4% | -115.6% | -5.5% | -5.0% | — | $2M | $2M |
| Oct '23 | $2M | $339616 | 99.0% | 2.6% | 0.9% | 0.8% | — | $2M | $528827 |
| Jul '23 | $2M | -$491655 | 98.8% | -49.3% | -1.3% | -1.1% | — | $500000 | $1M |
| Apr '23 | $3M | $1M | 99.2% | 43.7% | 2.8% | 2.4% | — | $2M | $569441 |
| Jan '23 | $2M | $2M | 99.8% | 25.2% | 5.0% | 4.3% | — | $500000 | $2M |
| Oct '22 | — | $183138 | — | — | 0.6% | 0.5% | — | $489063 | $2M |
| Jul '22 | — | $64477 | — | — | 0.2% | 0.2% | — | $492081 | $3M |
| Apr '22 | — | $499270 | — | — | 2.0% | 1.6% | — | $500000 | $473925 |
| Jan '22 | — | $2M | — | — | 7.5% | 6.1% | — | $2M | $477134 |
| Oct '21 | — | -$274156 | — | — | -1.3% | -1.0% | — | $2M | $940966 |
| Jul '21 | — | $1M | — | — | 7.0% | 5.1% | — | $2M | $2M |
| Apr '21 | — | $1M | — | — | 9.6% | 5.3% | — | $2M | $2M |
How the market has priced NCPL against its own fundamentals since 2023-03 — 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.
Over the past 5 years, Netcapital Inc.'s revenue has declined 68.0% per year. These are computed facts, not advice.
As of FY2025, Netcapital Inc. reported $2M of total debt against $289428 of cash; operating income covered interest expense -201.5×.
In FY2025, gross margin was 95.4%, operating margin -957.1%, and net margin -3255.0%.
As of Sep '26, Netcapital Inc. traded at a price-to-earnings ratio of about 18.9× (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.
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.