Saturday 17 October 2026 Export NCPL’s income statement to Excel — free account

Netcapital Inc.

Netcapital Inc.’s revenue for fiscal 2025 (year ended April 2025) was $869,500.00, down 82.4% from fiscal 2024. In the quarter to January 2026, revenue fell 38.2%, EPS grew 79.6% and free cash flow grew 25.3%, each against the same quarter a year earlier.

2.17 0.19 +9.60%

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Market cap: $15.5M
P/E: 0.0×
Fwd P/E: —
Dividend yield: —
F-score: 2/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 21.95%

Capital & Financial Ratios $m

Market Cap 15.54

Revenue 0.74

Net Income (28.13)

Free Cash Flow (8.39)

Net Debt (0.72)

Current Ratio 0.26

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E —

P/S ratio 16.47

P/B ratio 0.56

Past 5Y EPS Growth —

This Y EPS Growth 102.72%

Next Y EPS Growth 84.51%

Next Y revenue growth —

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 66.48%

10-year low 10-year high

P/B against its own 10 years 60.95%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1	1	0	1
Receivables	1	0	0	0
Inventory	—	—	—	—
Other	—	—	—	—
	3	1	0	1

	2023	2024	2025	Q'26
Payables	1	1	3	2
ST’ Debt	0	—	—	—
Other	2	2	2	2
	5	3	5	4

Compound Annual Growth %

	10y	5y	3y
Sales	24.97%	(13.09%)	(45.87%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	85.47%	(16.10%)

Revenue $m

	Jul	Oct	Jan	Apr	Year
’26	0	0	0	—	—
’25	0	0	0	0	1
’24	2	2	1	0	5
’23	1	2	2	3	8
’22	1	1	2	2	5
’21	2	1	1	1	5
’20	0	1	1	0	2

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jul	Oct	Jan	Apr	Year
’26	(4)	(3)	(1)	—	—
’25	(2)	(1)	(1)	(1)	(5)
’24	(1)	0	(2)	(1)	(5)
’23	(1)	(1)	(1)	(1)	(5)
’22	(1)	(1)	0	(1)	(3)
’21	(2)	0	(1)	(1)	(3)
’20	0	0	0	0	0

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jul	Oct	Jan	Apr	Year
’26	(4)	(3)	(1)	—	—
’25	(2)	(1)	(1)	(1)	(5)
’24	(1)	0	(2)	(1)	(5)
’23	(1)	(1)	(1)	(1)	(5)
’22	(1)	(1)	0	(1)	(3)
’21	(2)	0	(1)	(1)	(3)
’20	0	0	0	0	0

Fiscal quarters ending in the months shown.

EPS $

	Jul	Oct	Jan	Apr	Year
’26	(1.27)	(0.44)	(0.32)	—	—
’25	(5.10)	(2.34)	(1.57)	(13.46)	(20.39)
’24	(4.90)	2.80	(13.29)	(13.16)	(28.67)
’23	1.40	2.80	23.08	11.89	44.06
’22	45.46	(7.05)	44.06	9.09	88.81
’21	5.19	5.05	1.48	50.68	62.40
’20	0.00	91.41	100.29	(86.48)	105.22

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	140.00	140.00	140.00	140.00	0.21	455.00	80.50	13.30	1.41	0.62	Analyst estimates 2026–2028 Powerpack
	High	560.00	980.00	1,680.00	2,380.00	1,260.00	1,211.00	1,050.00	191.10	22.82	8.75
People
People	Employees	—	2	4	4	—	—	—	—	21	20
	Revenue/emp, $m	0.00	0.01	0.03	0.25	0.00	0.00	0.00	0.00	0.24	0.04
Income, $m
Income, $m	Revenue	0	0	0	1	2	5	5	8	5	1
	Gross margin, %	(158.13)	100.00	78.51	97.51	99.37	83.92	97.99	99.00	97.82	95.35
	EBT	(1)	(1)	0	1	0	2	4	4	(7)	(28)
	EBT margin, %	(1,861.69)	(3,851.63)	117.90	57.87	24.23	44.12	73.85	44.84	(147.95)	(3,254.89)
	Net income	(1)	(1)	0	1	1	1	4	3	(5)	(28)
	Depreciation	0	0	—	—	—	—	—	0	0	0
Per share, $
Per share, $	Revenue	0.01	0.00	0.01	0.10	307.65	263.74	143.85	126.97	28.62	0.63
	Earnings	(0.12)	(0.11)	0.01	0.06	105.22	82.22	91.61	44.06	(28.67)	(20.39)
	Cash flow	0.00	0.00	(0.01)	0.00	(0.63)	(181.61)	(78.92)	(69.02)	(28.21)	(3.85)
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	0.00	0.00	(0.01)	0.00	(0.63)	(181.61)	(78.92)	(69.02)	(28.21)	(3.85)
	Book value	(0.25)	(0.35)	(0.16)	(0.08)	119.16	792.10	662.41	540.46	219.31	10.74
	Shares, m	7	7	9	11	0	0	0	0	0	1
Valuation, ×
Valuation, ×	P/E	0.00	0.00	38,888.89	7,636.36	5.32	9.79	6.67	2.06	0.00	0.00
	P/S	22,563.07	47,916.64	45,920.50	4,395.00	1.82	3.05	4.38	0.63	0.33	3.22
	P/B	0.00	0.00	0.00	0.00	4.70	1.02	0.95	0.15	0.04	0.19
	EV/Sales	22,601.38	47,942.33	45,931.28	4,396.17	2.39	2.74	4.48	0.69	0.36	4.06
	EV/FCF	(46,765.07)	(72,251.11)	(101,744.19)	145,619.38	(1,165.50)	(3.99)	(8.17)	(1.26)	(0.36)	(0.66)
Cash, $m
Cash, $m	Operating cash flow	0	0	0	0	0	(3)	(3)	(5)	(5)	(5)
	Capex	—	—	—	—	—	—	—	—	—	—
	Free cash flow	0	0	0	0	0	(3)	(3)	(5)	(5)	(5)
Balance, $m
Balance, $m	Working capital	(1)	(3)	(1)	(1)	(1)	(5)	(3)	(3)	(2)	(5)
	Total debt	2	1	—	1	0	0	0	0	—	—
	Net debt	2	1	0	1	0	(2)	0	(1)	(1)	0
	Shareholders’ equity	(2)	(3)	(1)	(1)	1	14	25	36	38	15
Returns, %
Returns, %	ROA	(82.98)	(229.58)	222.02	142.55	41.25	10.52	12.19	8.03	(11.96)	(90.62)
	ROIC	0.00	0.00	0.00	166.84	104.98	(2.14)	(2.60)	3.99	(5.80)	(35.58)
	ROE	61.19	37.86	(6.43)	(49.62)	(650.08)	19.78	17.78	9.63	(13.46)	(107.11)

Negative figures in brackets.

All 10 years →

Fiscal years to Apr 2025 · latest quarter Jan 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PLUT Plutus Financial Group Limited	$29.6M	—	—	—	—	—	—	—	Compare
FLD Fold Holdings, Inc.	$28.7M	— (loss-making)	— (loss-making)	−25.51% (below 0%: shrinking)	n/m	+812.60% (above 0%: growing)	3.98%	(127.57%)	Compare
ARBK Argo Blockchain PLC Sponsored ADR	$28.1M	— (loss-making)	— (loss-making)	−70.04% (below 0%: shrinking)	n/m	−128.72% (below 0%: shrinking)	(22.79%)	(57.47%)	Compare
ATCH AtlasClear Holdings, Inc.	$26.9M	13.4×	—	+136.82% (above 0%: growing)	n/m	−163.33% (below 0%: shrinking)	100.00%	(53.57%)	Compare
DRK Sphere 3D Corp.	$22.9M	— (loss-making)	— (loss-making)	−18.75% (below 0%: shrinking)	n/m	+12.31% (above 0%: growing)	6.73%	(563.70%)	Compare
MDBH MDB Capital Holdings, LLC	$20.6M	— (loss-making)	—	+70.95% (above 0%: growing)	n/m	−21.65% (below 0%: shrinking)	100.00%	1,110.51%	Compare
AXG Solowin Holdings	$19.4M	—	—	—	—	−170.02% (below 0%: shrinking)	—	—	Compare
NCPL Netcapital Inc.	$15.5M	— (loss-making)	—	−38.24% (below 0%: shrinking)	n/m	+25.34% (above 0%: growing)	98.09%	(2,305.73%)
JRJC China Finance Online Co. Limited	$9.7M	— (loss-making)	—	+12.28% (above 0%: growing)	n/m	+98.72% (above 0%: growing)	69.09%	(56.05%)	Compare
Median of peers	$24.9M	—	—	−3.23%	—	−21.65%	37.91%	(56.76%)

All 93 Capital Markets stocks →

Netcapital Inc. (NCPL) key facts

Concern: Netcapital Inc.’s revenue for fiscal 2025 (year ended April 2025) was $869,500.00, down 82.4% from fiscal 2024.
Netcapital Inc. (NCPL) is a Capital Markets company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, NCPL traded at $2.17, a market capitalization of $15.5 million.
Return on equity was −107.1% and debt-to-equity 0.00.
Its Piotroski F-score is 2 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.