nCino Inc.
NCNO Technology Software Application
nCino Inc.’s revenue for fiscal 2026 (year ended January 2026) was $594.8 million, up 10.0% from fiscal 2025. In the quarter to July 2026, revenue grew 8.19%, EPS grew 138.5%, free cash flow grew 170.1% and total debt rose 27.6%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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nCino Inc. (NCNO) Piotroski F-score
nCino Inc.'s Piotroski F-score for fiscal 2026 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 6 | 0.00 |
| FY2025 | 6 | (1.00) |
| FY2024 | 7 | 5.00 |
| FY2023 | 2 | (2.00) |
| FY2022 | 4 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 0.32% | (2.57%) | Pass | 1 |
| Positive operating cash flow | 90.07m | 55.20m | Pass | 1 |
| Rising return on assets | 0.32% | (2.57%) | Pass | 1 |
| Cash flow above net income | 84.89m | 93.08m | Pass | 1 |
| Falling long-term leverage | 0.16 | 0.15 | Fail | 0 |
| Rising current ratio | 1.00 | 1.20 | Fail | 0 |
| No new shares issued | 112,883,700 | 115,162,200 | Pass | 1 |
| Rising gross margin | 60.55% | 60.07% | Pass | 1 |
| Rising asset turnover | 0.37 | 0.37 | Fail | 0 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BLKB Blackbaud, Inc. compare | 8 |
| DBD Diebold Nixdorf, Incorporated compare | 7 |
| ADEA Adeia Inc. compare | 7 |
| PLUS ePlus inc. compare | 6 |
| VERX Vertex, Inc. compare | 6 |
| NCNO nCino Inc. | 6 |
| ASAN Asana, Inc. compare | 5 |
| SOUN SoundHound AI, Inc. compare | 4 |
| BTDR Bitdeer Technologies Group compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover