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Netcapital Inc.

NCPL Financial Capital Markets

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%
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 (above 10: high)
P/B ratio 0.56
Past 5Y EPS Growth —
This Y EPS Growth 102.72% (at or above 15%: strong)
Next Y EPS Growth 84.51% (at or above 15%: strong)
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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to April

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Netcapital Inc. vs peers in Capital Markets (Q) = latest quarter vs a year earlier

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.

Netcapital Inc. (NCPL) Latest News

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stockrow.com/NCPL · Data as of Jan 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com