N-able, Inc. (NABL) 10-Year Financial Performance & Capital Metrics

NABL • • Industrial / General

TechnologyIT ServicesEnterprise Software & AI PlatformsEnterprise AI Platforms

AboutN-able, Inc. provides cloud-based software solutions for managed service providers (MSPs) in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow. The company's platform consists of solution categories including remote monitoring and management; security and data protection solutions through its data protection, patch management, endpoint security, web protection, e-mail security and archiving, and vulnerability assessment solutions; and business management, such as professional services automation, automation and scripting management, password management policies and reporting and analytics. The company was founded in 2000 and is headquartered in Burlington, Massachusetts.Show more

Revenue $466M +10.5%
EBITDA $108M +19.6%
Net Income $31M +32.2%
EPS (Diluted) 0.16 +23.1%
Gross Margin 82.69% -1.4%
EBITDA Margin 23.19% +8.2%
Operating Margin 17.67% +6.0%
Net Margin 6.64% +19.7%
ROE 4.21% +21.7%
ROIC 6.25% +9.8%
Debt/Equity 0.49 -7.6%
Interest Coverage 2.74 +18.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 12.1%

✗Weaknesses

✗Weak 3Y average ROE of 3.4%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y12.08%

3Y10.4%

TTM8.65%

Profit (Net Income) CAGR

10Y-

5Y-

3Y549.48%

TTM-117.59%

EPS CAGR

10Y-

5Y-

3Y511.42%

TTM-117.11%

ROCE

10Y Avg4.41%

5Y Avg5.07%

3Y Avg6.22%

Latest7.26%

Peer Comparison

Enterprise AI Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INODInnodata Inc.	2B	62.70	70.45	96.44%	14.11%	34.6%	1.37%	0.07
NABLN-able, Inc.	1.34B	7.21	45.06	10.49%	-1.31%	-0.8%	4.15%	0.49
MGICMagic Software Enterprises Ltd.	1.35B	27.54	36.72	3.26%	6.64%	13.31%	5.42%	0.29
DLBDolby Laboratories, Inc.	3.87B	63.81	24.36	5.92%	18.9%	9.69%	11.13%	0.01
JDZGJIADE Limited	26.78M	1.20	4.80	20.36%	38.77%	7.41%		0.07
GMMGlobal Mofy Metaverse Limited	77.02M	1.68	4	53.82%	28.24%	47.24%		0.13
DVLTDatavault AI Inc.	458.91M	0.80	-0.05	28.37%	-13.94%	-86.44%		0.11
DMRCDigimarc Corporation	138.37M	6.36	-3.48	10.23%	-109.17%	-88.8%		0.10

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	228.29M	263.52M	302.87M	346.46M	371.77M	421.88M	466.15M
Revenue Growth %	-	0.15%	0.15%	0.14%	0.07%	0.13%	0.1%
Cost of Goods Sold+	57.35M	57.32M	63.17M	52.43M	58.61M	68.21M	80.68M
COGS % of Revenue	0.25%	0.22%	0.21%	0.15%	0.16%	0.16%	0.17%
Gross Profit+	170.95M	206.2M	239.7M	294.02M	313.16M	353.67M	385.47M
Gross Margin %	0.75%	0.78%	0.79%	0.85%	0.84%	0.84%	0.83%
Gross Profit Growth %	-	0.21%	0.16%	0.23%	0.07%	0.13%	0.09%
Operating Expenses+	152.17M	169.59M	205.93M	260.69M	265.76M	283.35M	303.1M
OpEx % of Revenue	0.67%	0.64%	0.68%	0.75%	0.71%	0.67%	0.65%
Selling, General & Admin	95.56M	109.22M	139.37M	193.25M	196.43M	204.58M	212.11M
SG&A % of Revenue	0.42%	0.41%	0.46%	0.56%	0.53%	0.48%	0.46%
Research & Development	32.89M	37.17M	42.72M	53.96M	63.48M	78.18M	90.71M
R&D % of Revenue	0.14%	0.14%	0.14%	0.16%	0.17%	0.19%	0.19%
Other Operating Expenses	-1.74M	23.19M	23.85M	13.48M	5.85M	597K	278K
Operating Income+	18.77M	36.61M	33.77M	33.33M	47.4M	70.32M	82.37M
Operating Margin %	0.08%	0.14%	0.11%	0.1%	0.13%	0.17%	0.18%
Operating Income Growth %	-	0.95%	-0.08%	-0.01%	0.42%	0.48%	0.17%
EBITDA+	74.8M	90.75M	90.22M	66.36M	70.67M	90.39M	108.09M
EBITDA Margin %	0.33%	0.34%	0.3%	0.19%	0.19%	0.21%	0.23%
EBITDA Growth %	-	0.21%	-0.01%	-0.26%	0.06%	0.28%	0.2%
D&A (Non-Cash Add-back)	56.02M	54.14M	56.45M	33.03M	23.27M	20.07M	25.73M
EBIT	17.03M	37M	32.99M	32.06M	49.28M	74.58M	84.3M
Net Interest Income+	-34.52M	-33.8M	-28.14M	-20.47M	-18.85M	-30.25M	-30.03M
Interest Income	0	0	0	0	0	0	0
Interest Expense	34.52M	33.8M	28.14M	20.47M	18.85M	30.25M	30.03M
Other Income/Expense	-36.27M	-33.42M	-28.91M	-21.74M	-16.97M	-25.99M	-28.1M
Pretax Income+	-17.49M	3.19M	4.86M	11.59M	30.43M	44.33M	54.27M
Pretax Margin %	-0.08%	0.01%	0.02%	0.03%	0.08%	0.11%	0.12%
Income Tax+	-3.8M	5.71M	12.01M	11.48M	13.72M	20.91M	23.31M
Effective Tax Rate %	0.78%	-0.79%	-1.47%	0.01%	0.55%	0.53%	0.57%
Net Income+	-13.69M	-2.51M	-7.16M	113K	16.71M	23.41M	30.96M
Net Margin %	-0.06%	-0.01%	-0.02%	0%	0.04%	0.06%	0.07%
Net Income Growth %	-	0.82%	-1.85%	1.02%	146.85%	0.4%	0.32%
Net Income (Continuing)	-13.69M	-2.51M	-7.16M	113K	16.71M	23.41M	30.96M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	-0.04	-0.01	-0.02	0.00	0.09	0.13	0.16
EPS Growth %	-	0.82%	-	1.03%	-	0.41%	0.23%
EPS (Basic)	-0.04	-0.01	-0.02	0.00	0.09	0.13	0.17
Diluted Shares Outstanding	315.4M	315.4M	315.4M	179.05M	181.3M	185.98M	188.43M
Basic Shares Outstanding	315.4M	315.4M	315.4M	179.05M	180.14M	182.37M	185.28M
Dividend Payout Ratio	-	-	-	1911.5%	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	104.78M	71.37M	135.72M	120.99M	154.16M	224.79M	183.92M
Cash & Short-Term Investments	77.87M	39.35M	99.79M	66.74M	98.85M	153.05M	85.2M
Cash Only	77.87M	39.35M	99.79M	66.74M	98.85M	153.05M	85.2M
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	22.09M	26.95M	30.35M	40.29M	42.61M	48.01M	85.42M
Days Sales Outstanding	35.32	37.33	36.57	42.45	41.84	41.54	66.88
Inventory	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-
Other Current Assets	678K	0	0	0	12.7M	23.73M	13.31M
Total Non-Current Assets+	970.7M	942.42M	944.01M	934.71M	924.7M	938M	1.15B
Property, Plant & Equipment	13.2M	23.69M	33.29M	74.95M	69.16M	68.91M	64.16M
Fixed Asset Turnover	17.30x	11.12x	9.10x	4.62x	5.38x	6.12x	7.27x
Goodwill	832.52M	836.64M	874.08M	840.92M	828.79M	838.5M	977.01M
Intangible Assets	120.01M	74.77M	27.37M	8.07M	8.87M	6.72M	83.15M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	4.97M	3.59M	6.29M	9.09M	17.08M	22.79M	28.57M
Total Assets+	1.08B	1.01B	1.08B	1.06B	1.08B	1.16B	1.34B
Asset Turnover	0.21x	0.26x	0.28x	0.33x	0.34x	0.36x	0.35x
Asset Growth %	-	-0.06%	0.07%	-0.02%	0.02%	0.08%	0.15%
Total Current Liabilities+	54.46M	32.79M	54.83M	60.88M	61.81M	81.72M	150.1M
Accounts Payable	6.38M	1.97M	5.54M	5.87M	3.54M	5.24M	6.29M
Days Payables Outstanding	40.61	12.54	32.02	40.83	22.07	28.04	28.46
Short-Term Debt	0	0	0	3.5M	3.5M	3.5M	3.5M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	11.33M	5.57M	9.58M	0	0	27.1M	44.02M
Current Ratio	1.92x	2.18x	2.48x	1.99x	2.49x	2.75x	1.23x
Quick Ratio	1.92x	2.18x	2.48x	1.99x	2.49x	2.75x	1.23x
Cash Conversion Cycle	-	-	-	-	-	-	-
Total Non-Current Liabilities+	469.27M	417.3M	393.71M	376.47M	374.97M	369.71M	429.46M
Long-Term Debt	450M	394.4M	372.65M	335.38M	333.49M	331.51M	329.61M
Capital Lease Obligations	0	11.92M	14.64M	37.82M	33.11M	33.06M	30.07M
Deferred Tax Liabilities	0	10.63M	5.85M	2.63M	2.78M	1.82M	3.45M
Other Non-Current Liabilities	19.27M	87K	406K	410K	5.2M	3.15M	63.34M
Total Liabilities	523.73M	450.09M	448.54M	437.34M	436.79M	451.43M	579.56M
Total Debt+	450M	408.43M	390.15M	381.53M	375.87M	374.52M	369.19M
Net Debt	372.13M	369.08M	290.36M	314.8M	277.02M	221.47M	284M
Debt / Equity	0.82x	0.72x	0.62x	0.62x	0.59x	0.53x	0.49x
Debt / EBITDA	6.02x	4.50x	4.32x	5.75x	5.32x	4.14x	3.42x
Net Debt / EBITDA	4.98x	4.07x	3.22x	4.74x	3.92x	2.45x	2.63x
Interest Coverage	0.54x	1.08x	1.20x	1.63x	2.51x	2.32x	2.74x
Total Equity+	551.75M	563.7M	631.2M	618.36M	642.07M	711.36M	759.29M
Equity Growth %	-	0.02%	0.12%	-0.02%	0.04%	0.11%	0.07%
Book Value per Share	1.75	1.79	2.00	3.45	3.54	3.82	4.03
Total Shareholders' Equity	551.75M	563.7M	631.2M	618.36M	642.07M	711.36M	759.29M
Common Stock	537.28M	557.12M	582.21M	179K	181K	183K	187K
Retained Earnings	0	0	0	127K	16.83M	40.25M	71.2M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	14.47M	6.58M	48.99M	15.05M	-7.82M	4.41M	-21.09M
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	52.33M	25.54M	85.67M	45.34M	71.41M	90.09M	79.44M
Operating CF Margin %	0.23%	0.1%	0.28%	0.13%	0.19%	0.21%	0.17%
Operating CF Growth %	-	-0.51%	2.35%	-0.47%	0.58%	0.26%	-0.12%
Net Income	-13.69M	-2.51M	-7.16M	113K	16.71M	23.41M	30.96M
Depreciation & Amortization	56.02M	54.14M	56.45M	33.77M	24.44M	20.07M	25.73M
Stock-Based Compensation	1.8M	8.66M	21.05M	29.43M	36.53M	43.57M	45.35M
Deferred Taxes	-10.54M	-4.73M	-4.05M	-1.91M	-1.42M	330K	-1.95M
Other Non-Cash Items	3.45M	1.14M	3.19M	3.85M	119K	576K	377K
Working Capital Changes	15.29M	-31.16M	16.18M	-19.91M	-4.96M	2.13M	-21.02M
Change in Receivables	-4.94M	-5.29M	-3.69M	-11.57M	-4.13M	-7.23M	-21.84M
Change in Inventory	19.32M	0	0	0	0	0	0
Change in Payables	791K	-236K	3.27M	-455K	-1.62M	1.83M	-461K
Cash from Investing+	-22.93M	-23.04M	-16.14M	-34.83M	-30.21M	-22.34M	-122.42M
Capital Expenditures	-9.92M	-5.79M	-11.92M	-30.66M	-12.83M	-13.78M	-17.57M
CapEx % of Revenue	0.04%	0.02%	0.04%	0.09%	0.03%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-451K	-2.42M	-4.22M	-4.17M	-8.18M	-8.56M	-6.16M
Cash from Financing+	20.58M	-42.81M	-10.56M	-42.32M	-10.4M	-15.17M	-22.59M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-216M	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	20.58M	12.79M	11.19M	-18.8M	-6.9M	303K	-19.09M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	42.4M	17.32M	69.53M	10.51M	50.4M	67.75M	55.71M
FCF Margin %	0.19%	0.07%	0.23%	0.03%	0.14%	0.16%	0.12%
FCF Growth %	-	-0.59%	3.01%	-0.85%	3.8%	0.34%	-0.18%
FCF per Share	0.13	0.05	0.22	0.06	0.28	0.36	0.30
FCF Conversion (FCF/Net Income)	-3.82x	-10.17x	-11.97x	401.25x	4.27x	3.85x	2.57x
Interest Paid	24.85M	52.68M	26.6M	20.39M	15.57M	28.44M	28.69M
Taxes Paid	3.78M	8.94M	14.21M	19.03M	16.3M	14.93M	12.77M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.48%	-0.45%	-1.2%	0.02%	2.65%	3.46%	4.21%
Return on Invested Capital (ROIC)	1.52%	2.96%	2.73%	2.7%	3.84%	5.7%	6.25%
Gross Margin	74.88%	78.25%	79.14%	84.87%	84.23%	83.83%	82.69%
Net Margin	-6%	-0.95%	-2.36%	0.03%	4.49%	5.55%	6.64%
Debt / Equity	0.82x	0.72x	0.62x	0.62x	0.59x	0.53x	0.49x
Interest Coverage	0.54x	1.08x	1.20x	1.63x	2.51x	2.32x	2.74x
FCF Conversion	-3.82x	-10.17x	-11.97x	401.25x	4.27x	3.85x	2.57x
Revenue Growth	-	15.43%	14.93%	14.39%	7.31%	13.48%	10.49%

Revenue by Segment

	2021	2022	2023	2024
Subscription Revenue	336.85M	362.61M	412.07M	458.96M
Subscription Revenue Growth	-	7.65%	13.64%	11.38%
Other Revenue	9.61M	9.16M	9.81M	7.19M
Other Revenue Growth	-	-4.69%	7.07%	-26.73%

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	160.83M	181.03M	205.84M	224.51M
UNITED STATES Growth	-	12.56%	13.70%	9.07%

Frequently Asked Questions

Valuation & Price

N-able, Inc. (NABL) has a price-to-earnings (P/E) ratio of 45.1x. This suggests investors expect higher future growth.

Growth & Financials

N-able, Inc. (NABL) reported $497.7M in revenue for fiscal year 2024. This represents a 118% increase from $228.3M in 2018.

N-able, Inc. (NABL) grew revenue by 10.5% over the past year. This is steady growth.

N-able, Inc. (NABL) reported a net loss of $6.5M for fiscal year 2024.

Dividend & Returns

N-able, Inc. (NABL) has a return on equity (ROE) of 4.2%. This is below average, suggesting room for improvement.

N-able, Inc. (NABL) generated $70.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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N-able, Inc. (NABL) 10-Year Financial Performance & Capital Metrics

NABL • • Industrial / General

TechnologyIT ServicesEnterprise Software & AI PlatformsEnterprise AI Platforms

Revenue $466M +10.5%
EBITDA $108M +19.6%
Net Income $31M +32.2%
EPS (Diluted) 0.16 +23.1%
Gross Margin 82.69% -1.4%
EBITDA Margin 23.19% +8.2%
Operating Margin 17.67% +6.0%
Net Margin 6.64% +19.7%
ROE 4.21% +21.7%
ROIC 6.25% +9.8%
Debt/Equity 0.49 -7.6%
Interest Coverage 2.74 +18.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 12.1%

✗Weaknesses

✗Weak 3Y average ROE of 3.4%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y12.08%

3Y10.4%

TTM8.65%

Profit (Net Income) CAGR

10Y-

5Y-

3Y549.48%

TTM-117.59%

EPS CAGR

10Y-

5Y-

3Y511.42%

TTM-117.11%

ROCE

10Y Avg4.41%

5Y Avg5.07%

3Y Avg6.22%

Latest7.26%

Peer Comparison

Enterprise AI Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INODInnodata Inc.	2B	62.70	70.45	96.44%	14.11%	34.6%	1.37%	0.07
NABLN-able, Inc.	1.34B	7.21	45.06	10.49%	-1.31%	-0.8%	4.15%	0.49
MGICMagic Software Enterprises Ltd.	1.35B	27.54	36.72	3.26%	6.64%	13.31%	5.42%	0.29
DLBDolby Laboratories, Inc.	3.87B	63.81	24.36	5.92%	18.9%	9.69%	11.13%	0.01
JDZGJIADE Limited	26.78M	1.20	4.80	20.36%	38.77%	7.41%		0.07
GMMGlobal Mofy Metaverse Limited	77.02M	1.68	4	53.82%	28.24%	47.24%		0.13
DVLTDatavault AI Inc.	458.91M	0.80	-0.05	28.37%	-13.94%	-86.44%		0.11
DMRCDigimarc Corporation	138.37M	6.36	-3.48	10.23%	-109.17%	-88.8%		0.10

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	228.29M	263.52M	302.87M	346.46M	371.77M	421.88M	466.15M
Revenue Growth %	-	0.15%	0.15%	0.14%	0.07%	0.13%	0.1%
Cost of Goods Sold+	57.35M	57.32M	63.17M	52.43M	58.61M	68.21M	80.68M
COGS % of Revenue	0.25%	0.22%	0.21%	0.15%	0.16%	0.16%	0.17%
Gross Profit+	170.95M	206.2M	239.7M	294.02M	313.16M	353.67M	385.47M
Gross Margin %	0.75%	0.78%	0.79%	0.85%	0.84%	0.84%	0.83%
Gross Profit Growth %	-	0.21%	0.16%	0.23%	0.07%	0.13%	0.09%
Operating Expenses+	152.17M	169.59M	205.93M	260.69M	265.76M	283.35M	303.1M
OpEx % of Revenue	0.67%	0.64%	0.68%	0.75%	0.71%	0.67%	0.65%
Selling, General & Admin	95.56M	109.22M	139.37M	193.25M	196.43M	204.58M	212.11M
SG&A % of Revenue	0.42%	0.41%	0.46%	0.56%	0.53%	0.48%	0.46%
Research & Development	32.89M	37.17M	42.72M	53.96M	63.48M	78.18M	90.71M
R&D % of Revenue	0.14%	0.14%	0.14%	0.16%	0.17%	0.19%	0.19%
Other Operating Expenses	-1.74M	23.19M	23.85M	13.48M	5.85M	597K	278K
Operating Income+	18.77M	36.61M	33.77M	33.33M	47.4M	70.32M	82.37M
Operating Margin %	0.08%	0.14%	0.11%	0.1%	0.13%	0.17%	0.18%
Operating Income Growth %	-	0.95%	-0.08%	-0.01%	0.42%	0.48%	0.17%
EBITDA+	74.8M	90.75M	90.22M	66.36M	70.67M	90.39M	108.09M
EBITDA Margin %	0.33%	0.34%	0.3%	0.19%	0.19%	0.21%	0.23%
EBITDA Growth %	-	0.21%	-0.01%	-0.26%	0.06%	0.28%	0.2%
D&A (Non-Cash Add-back)	56.02M	54.14M	56.45M	33.03M	23.27M	20.07M	25.73M
EBIT	17.03M	37M	32.99M	32.06M	49.28M	74.58M	84.3M
Net Interest Income+	-34.52M	-33.8M	-28.14M	-20.47M	-18.85M	-30.25M	-30.03M
Interest Income	0	0	0	0	0	0	0
Interest Expense	34.52M	33.8M	28.14M	20.47M	18.85M	30.25M	30.03M
Other Income/Expense	-36.27M	-33.42M	-28.91M	-21.74M	-16.97M	-25.99M	-28.1M
Pretax Income+	-17.49M	3.19M	4.86M	11.59M	30.43M	44.33M	54.27M
Pretax Margin %	-0.08%	0.01%	0.02%	0.03%	0.08%	0.11%	0.12%
Income Tax+	-3.8M	5.71M	12.01M	11.48M	13.72M	20.91M	23.31M
Effective Tax Rate %	0.78%	-0.79%	-1.47%	0.01%	0.55%	0.53%	0.57%
Net Income+	-13.69M	-2.51M	-7.16M	113K	16.71M	23.41M	30.96M
Net Margin %	-0.06%	-0.01%	-0.02%	0%	0.04%	0.06%	0.07%
Net Income Growth %	-	0.82%	-1.85%	1.02%	146.85%	0.4%	0.32%
Net Income (Continuing)	-13.69M	-2.51M	-7.16M	113K	16.71M	23.41M	30.96M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	-0.04	-0.01	-0.02	0.00	0.09	0.13	0.16
EPS Growth %	-	0.82%	-	1.03%	-	0.41%	0.23%
EPS (Basic)	-0.04	-0.01	-0.02	0.00	0.09	0.13	0.17
Diluted Shares Outstanding	315.4M	315.4M	315.4M	179.05M	181.3M	185.98M	188.43M
Basic Shares Outstanding	315.4M	315.4M	315.4M	179.05M	180.14M	182.37M	185.28M
Dividend Payout Ratio	-	-	-	1911.5%	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	104.78M	71.37M	135.72M	120.99M	154.16M	224.79M	183.92M
Cash & Short-Term Investments	77.87M	39.35M	99.79M	66.74M	98.85M	153.05M	85.2M
Cash Only	77.87M	39.35M	99.79M	66.74M	98.85M	153.05M	85.2M
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	22.09M	26.95M	30.35M	40.29M	42.61M	48.01M	85.42M
Days Sales Outstanding	35.32	37.33	36.57	42.45	41.84	41.54	66.88
Inventory	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-
Other Current Assets	678K	0	0	0	12.7M	23.73M	13.31M
Total Non-Current Assets+	970.7M	942.42M	944.01M	934.71M	924.7M	938M	1.15B
Property, Plant & Equipment	13.2M	23.69M	33.29M	74.95M	69.16M	68.91M	64.16M
Fixed Asset Turnover	17.30x	11.12x	9.10x	4.62x	5.38x	6.12x	7.27x
Goodwill	832.52M	836.64M	874.08M	840.92M	828.79M	838.5M	977.01M
Intangible Assets	120.01M	74.77M	27.37M	8.07M	8.87M	6.72M	83.15M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	4.97M	3.59M	6.29M	9.09M	17.08M	22.79M	28.57M
Total Assets+	1.08B	1.01B	1.08B	1.06B	1.08B	1.16B	1.34B
Asset Turnover	0.21x	0.26x	0.28x	0.33x	0.34x	0.36x	0.35x
Asset Growth %	-	-0.06%	0.07%	-0.02%	0.02%	0.08%	0.15%
Total Current Liabilities+	54.46M	32.79M	54.83M	60.88M	61.81M	81.72M	150.1M
Accounts Payable	6.38M	1.97M	5.54M	5.87M	3.54M	5.24M	6.29M
Days Payables Outstanding	40.61	12.54	32.02	40.83	22.07	28.04	28.46
Short-Term Debt	0	0	0	3.5M	3.5M	3.5M	3.5M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	11.33M	5.57M	9.58M	0	0	27.1M	44.02M
Current Ratio	1.92x	2.18x	2.48x	1.99x	2.49x	2.75x	1.23x
Quick Ratio	1.92x	2.18x	2.48x	1.99x	2.49x	2.75x	1.23x
Cash Conversion Cycle	-	-	-	-	-	-	-
Total Non-Current Liabilities+	469.27M	417.3M	393.71M	376.47M	374.97M	369.71M	429.46M
Long-Term Debt	450M	394.4M	372.65M	335.38M	333.49M	331.51M	329.61M
Capital Lease Obligations	0	11.92M	14.64M	37.82M	33.11M	33.06M	30.07M
Deferred Tax Liabilities	0	10.63M	5.85M	2.63M	2.78M	1.82M	3.45M
Other Non-Current Liabilities	19.27M	87K	406K	410K	5.2M	3.15M	63.34M
Total Liabilities	523.73M	450.09M	448.54M	437.34M	436.79M	451.43M	579.56M
Total Debt+	450M	408.43M	390.15M	381.53M	375.87M	374.52M	369.19M
Net Debt	372.13M	369.08M	290.36M	314.8M	277.02M	221.47M	284M
Debt / Equity	0.82x	0.72x	0.62x	0.62x	0.59x	0.53x	0.49x
Debt / EBITDA	6.02x	4.50x	4.32x	5.75x	5.32x	4.14x	3.42x
Net Debt / EBITDA	4.98x	4.07x	3.22x	4.74x	3.92x	2.45x	2.63x
Interest Coverage	0.54x	1.08x	1.20x	1.63x	2.51x	2.32x	2.74x
Total Equity+	551.75M	563.7M	631.2M	618.36M	642.07M	711.36M	759.29M
Equity Growth %	-	0.02%	0.12%	-0.02%	0.04%	0.11%	0.07%
Book Value per Share	1.75	1.79	2.00	3.45	3.54	3.82	4.03
Total Shareholders' Equity	551.75M	563.7M	631.2M	618.36M	642.07M	711.36M	759.29M
Common Stock	537.28M	557.12M	582.21M	179K	181K	183K	187K
Retained Earnings	0	0	0	127K	16.83M	40.25M	71.2M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	14.47M	6.58M	48.99M	15.05M	-7.82M	4.41M	-21.09M
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	52.33M	25.54M	85.67M	45.34M	71.41M	90.09M	79.44M
Operating CF Margin %	0.23%	0.1%	0.28%	0.13%	0.19%	0.21%	0.17%
Operating CF Growth %	-	-0.51%	2.35%	-0.47%	0.58%	0.26%	-0.12%
Net Income	-13.69M	-2.51M	-7.16M	113K	16.71M	23.41M	30.96M
Depreciation & Amortization	56.02M	54.14M	56.45M	33.77M	24.44M	20.07M	25.73M
Stock-Based Compensation	1.8M	8.66M	21.05M	29.43M	36.53M	43.57M	45.35M
Deferred Taxes	-10.54M	-4.73M	-4.05M	-1.91M	-1.42M	330K	-1.95M
Other Non-Cash Items	3.45M	1.14M	3.19M	3.85M	119K	576K	377K
Working Capital Changes	15.29M	-31.16M	16.18M	-19.91M	-4.96M	2.13M	-21.02M
Change in Receivables	-4.94M	-5.29M	-3.69M	-11.57M	-4.13M	-7.23M	-21.84M
Change in Inventory	19.32M	0	0	0	0	0	0
Change in Payables	791K	-236K	3.27M	-455K	-1.62M	1.83M	-461K
Cash from Investing+	-22.93M	-23.04M	-16.14M	-34.83M	-30.21M	-22.34M	-122.42M
Capital Expenditures	-9.92M	-5.79M	-11.92M	-30.66M	-12.83M	-13.78M	-17.57M
CapEx % of Revenue	0.04%	0.02%	0.04%	0.09%	0.03%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-451K	-2.42M	-4.22M	-4.17M	-8.18M	-8.56M	-6.16M
Cash from Financing+	20.58M	-42.81M	-10.56M	-42.32M	-10.4M	-15.17M	-22.59M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-216M	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	20.58M	12.79M	11.19M	-18.8M	-6.9M	303K	-19.09M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	42.4M	17.32M	69.53M	10.51M	50.4M	67.75M	55.71M
FCF Margin %	0.19%	0.07%	0.23%	0.03%	0.14%	0.16%	0.12%
FCF Growth %	-	-0.59%	3.01%	-0.85%	3.8%	0.34%	-0.18%
FCF per Share	0.13	0.05	0.22	0.06	0.28	0.36	0.30
FCF Conversion (FCF/Net Income)	-3.82x	-10.17x	-11.97x	401.25x	4.27x	3.85x	2.57x
Interest Paid	24.85M	52.68M	26.6M	20.39M	15.57M	28.44M	28.69M
Taxes Paid	3.78M	8.94M	14.21M	19.03M	16.3M	14.93M	12.77M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.48%	-0.45%	-1.2%	0.02%	2.65%	3.46%	4.21%
Return on Invested Capital (ROIC)	1.52%	2.96%	2.73%	2.7%	3.84%	5.7%	6.25%
Gross Margin	74.88%	78.25%	79.14%	84.87%	84.23%	83.83%	82.69%
Net Margin	-6%	-0.95%	-2.36%	0.03%	4.49%	5.55%	6.64%
Debt / Equity	0.82x	0.72x	0.62x	0.62x	0.59x	0.53x	0.49x
Interest Coverage	0.54x	1.08x	1.20x	1.63x	2.51x	2.32x	2.74x
FCF Conversion	-3.82x	-10.17x	-11.97x	401.25x	4.27x	3.85x	2.57x
Revenue Growth	-	15.43%	14.93%	14.39%	7.31%	13.48%	10.49%

Revenue by Segment

	2021	2022	2023	2024
Subscription Revenue	336.85M	362.61M	412.07M	458.96M
Subscription Revenue Growth	-	7.65%	13.64%	11.38%
Other Revenue	9.61M	9.16M	9.81M	7.19M
Other Revenue Growth	-	-4.69%	7.07%	-26.73%

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	160.83M	181.03M	205.84M	224.51M
UNITED STATES Growth	-	12.56%	13.70%	9.07%

Frequently Asked Questions

Valuation & Price

N-able, Inc. (NABL) has a price-to-earnings (P/E) ratio of 45.1x. This suggests investors expect higher future growth.

Growth & Financials

N-able, Inc. (NABL) reported $497.7M in revenue for fiscal year 2024. This represents a 118% increase from $228.3M in 2018.

N-able, Inc. (NABL) grew revenue by 10.5% over the past year. This is steady growth.

N-able, Inc. (NABL) reported a net loss of $6.5M for fiscal year 2024.

Dividend & Returns

N-able, Inc. (NABL) has a return on equity (ROE) of 4.2%. This is below average, suggesting room for improvement.

N-able, Inc. (NABL) generated $70.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.