Netcapital Inc.(NCPL)Earnings, Financials & Key Ratios
NCPL•NASDAQ•Banking & Credit
$0.38
$3M mkt cap·Price updated May 7, 2026
AboutNetcapital Inc. operates as a fintech company. It offers Netcapital.com, an SEC-registered funding portal that enables private companies to raise capital online, as well as allows investors to invest from anywhere in the world. It also provides various services, including a fully automated onboarding process; automated filing of required regulatory documents; compliance review; custom-built offering page on its portal website; third party transfer agent and custodial services; email marketing to its proprietary list of investors; rolling closes, which provide potential access to liquidity before final close date of offering; assistance with annual filings; and ongoing support services. In addition, the company offers advisory services, such as incubation of technology start-ups; investor introduction; digital marketing; website design, software, and software development; message crafting, including pitch decks, offering pages, and ad creation; strategic advice; and technology consulting services. Further, it provides business valuations; fairness and solvency opinions; ESOP feasibility and valuation; non-cash charitable contributions; economic analysis of damages; intellectual property appraisals; and compensation studies. Netcapital Inc. was incorporated in 1984 and is based in Boston, Massachusetts. Netcapital Inc. is a subsidiary of NetCapital Systems LLC.Show more
- Net Interest Income-$48K-4.9%
- Total Revenue$869K-82.4%
- Net Income-$28M-467.6%
- Return on Equity-107.11%-695.8%
- Net Interest Margin-0.23%-108.5%
- Efficiency Ratio1047.79%+526.1%
- ROA-90.62%-657.7%
- Equity / Assets71.31%-21.9%
- Book Value per Share10.74-95.1%
- Tangible BV/Share0.15-99.9%
- Debt/Equity0.18+182.2%
NCPL Key Insights
Netcapital Inc. (NCPL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Well capitalized: 71.3% equity/assets
- ✓Diversified revenue: 100.0% from non-interest income
- ✓Trading at only 0.0x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Weak NIM of -0.2%
- ✗High cost structure: 1047.8% efficiency ratio
- ✗Weak momentum: RS Rating 4 (bottom 4%)
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NCPL Price & Volume
Netcapital Inc. (NCPL) stock price & volume — 10-year historical chart
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NCPL Growth Metrics
Netcapital Inc. (NCPL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-13.09%
3 Years-45.87%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-171.51%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-23.51%
Return on Capital
10 Years100.45%
5 Years-8.44%
3 Years-10.88%
Last Year-30.76%
NCPL Peer Comparison
Netcapital Inc. (NCPL) competitors in Capital Markets Software and Compliance — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CF | 18.24B | 118.73 | 13.24 | 19.34% | 23.73% | 22.29% | 0.51 | |
 OXSQ | 162.77M | 1.86 | -7.44 | 32.01% | -24.71% | 1.08 | ||
 FPAY | 2.46K | 0.00 | -0.00 | 19.51% | -0.97% | -4.52% | 4.93 | |
 INTU | 113.54B | 406.78 | 29.76 | 15.63% | 21.57% | 22.78% | 0.34 | |
 BILL | 3.72B | 37.62 | 163.57 | 13.36% | 0.01% | 0% | 0.45 | |
 DOCN | 15.72B | 150.58 | 59.75 | 15.48% | 26.8% | 165.69% | ||
 SHOP | 145B | 111.74 | 118.87 | 30.14% | 10.77% | 10.52% | 0.01 | |
 HOOD | 68.72B | 76.28 | 37.21 | 51.58% | 21.38% | 1.68 |
Compare NCPL vs Peers
Netcapital Inc. (NCPL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NCPL Income Statement
Netcapital Inc. (NCPL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Apr'17 | Apr'18 | Apr'19 | Apr'20 | Apr'21 | Apr'22 | Apr'23 | Apr'24 | Apr'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 0 | -69.49K | -19.41K | -18.88K | -87.33K | -126.37K | -93.84K | -45.99K | -48.23K | -55.02K |
| NII Growth % | - | - | 72.07% | 2.73% | -362.59% | -44.7% | 25.74% | 50.99% | -4.86% | -131.58% |
| Net Interest Margin % | 0% | -70.62% | -2.7% | -0.85% | -0.34% | -0.4% | -0.22% | -0.11% | -0.23% | -0.21% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.67K |
| Interest Expense | -115.3K | 69.49K | 19.41K | 18.88K | 87.33K | 126.37K | 93.84K | 45.99K | 48.23K | 17.57K |
| Loan Loss Provision | 496.36K | -45.6K | 5.79K | -7.77K | 671.83K | -16.26K | -8.8K | 62.07K | -7.88K | 806.44K |
| Non-Interest Income | 21.51K | 111.17K | 1.01M | 1.75M | 4.72M | 5.48M | 8.49M | 4.95M | 869.46K | 727.83K |
| Non-Interest Income % | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 98.42% |
| Total Revenue | 21.51K▲ 0% | 111.17K▲ 416.9% | 1.01M▲ 811.8% | 1.75M▲ 73.0% | 4.72M▲ 169.2% | 5.48M▲ 16.1% | 8.49M▲ 55.0% | 4.95M▼ 41.7% | 869.46K▼ 82.4% | 739.5K▲ 0% |
| Revenue Growth % | -52.07% | 416.88% | 811.76% | 73% | 169.22% | 16.09% | 54.98% | -41.71% | -82.44% | -58.25% |
| Non-Interest Expense | 189.49K | 279.34K | 363.98K | 595.23K | 4.36M | 6.4M | 6.14M | 8.29M | 9.11M | 9.42M |
| Efficiency Ratio | 881.03% | 251.27% | 35.91% | 33.94% | 92.42% | 116.8% | 72.25% | 167.34% | 1047.79% | 1273.24% |
| Operating Income | -549.04K▲ 0% | -192.05K▲ 65.0% | 624.43K▲ 425.1% | 1.15M▲ 83.7% | -401.5K▼ 135.0% | -1.03M▼ 156.8% | 2.27M▲ 320.3% | -3.44M▼ 251.5% | -8.28M▼ 140.6% | -9.5M▲ 0% |
| Operating Margin % | -2552.74% | -172.76% | 61.6% | 65.42% | -8.5% | -18.81% | 26.75% | -69.52% | -952.43% | -1284.92% |
| Operating Income Growth % | 22.37% | 65.02% | 425.13% | 83.72% | -135% | -156.82% | 320.33% | -251.52% | -140.56% | - |
| Pretax Income | -828.12K▲ 0% | 131.13K▲ 115.8% | 586.63K▲ 347.4% | 424.85K▼ 27.6% | 2.08M▲ 390.2% | 4.05M▲ 94.3% | 3.81M▼ 5.9% | -7.33M▼ 292.3% | -28.3M▼ 286.3% | -28.13M▲ 0% |
| Pretax Margin % | -3850.29% | 117.95% | 57.87% | 24.23% | 44.11% | 73.85% | 44.84% | -147.95% | -3255.05% | -3804.1% |
| Income Tax | 0 | 0 | 3.75K | -180K | 613K | 544K | 854K | -2.34M | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0.64% | -42.37% | 29.43% | 13.44% | 22.42% | 31.93% | 0% | 0% |
| Net Income | -828.12K▲ 0% | 131.13K▲ 115.8% | 582.88K▲ 344.5% | 604.85K▲ 3.8% | 1.47M▲ 143.0% | 3.5M▲ 138.4% | 2.95M▼ 15.7% | -4.99M▼ 268.7% | -28.3M▼ 467.6% | -28.13M▲ 0% |
| Net Margin % | -3850.29% | 117.95% | 57.51% | 34.49% | 31.13% | 63.92% | 34.79% | -100.7% | -3255.05% | -3804.1% |
| Net Income Growth % | 0.93% | 115.83% | 344.51% | 3.77% | 142.98% | 138.39% | -15.66% | -268.74% | -467.58% | -171.51% |
| Net Income (Continuing) | -828.12K | 131.13K | 582.88K | 604.85K | 1.47M | 3.5M | 2.95M | -4.99M | -28.3M | -28.13M |
| EPS (Diluted) | -3.26▲ 0% | 0.41▲ 112.6% | 1.57▲ 282.9% | 1.50▼ 4.5% | 62.30▲ 4053.3% | 88.90▲ 42.7% | 44.10▼ 50.4% | -28.70▼ 165.1% | -20.39▲ 29.0% | -5.01▲ 0% |
| EPS Growth % | 1.21% | 112.58% | 282.93% | -4.46% | 4053.33% | 42.7% | -50.39% | -165.08% | 28.95% | -23.51% |
| EPS (Basic) | -3.26 | 0.41 | 1.57 | 1.50 | 82.60 | 91.70 | 44.10 | -28.70 | -20.39 | - |
| Diluted Shares Outstanding | 254K | 318.83K | 370.86K | 402.28K | 1.65M | 2.75M | 4.68M | 172.94K | 1.39M | 5.61M |
NCPL Balance Sheet
Netcapital Inc. (NCPL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Apr'17 | Apr'18 | Apr'19 | Apr'20 | Apr'21 | Apr'22 | Apr'23 | Apr'24 | Apr'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 3.32K | 1.66K | 19.11K | 11.21K | 2.47M | 473.93K | 569.44K | 863.18K | 289.43K | 7.25M |
| Cash & Due from Banks | 3.32K | 1.66K | 19.11K | 11.21K | 2.47M | 473.93K | 569.44K | 863.18K | 289.43K | 715.44K |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 0 | 23K | 647.32K | 1.41M | 6.42M | 13.1M | 23.2M | 25.57M | 5.8M | 5.81M |
| Investments Growth % | - | - | 2714.42% | 117.36% | 356.36% | 104.04% | 77.05% | 10.25% | -77.33% | -307.84% |
| Long-Term Investments | 0 | 23K | 647.32K | 1.41M | 6.42M | 13.1M | 23.2M | 25.57M | 5.8M | 23.32M |
| Accounts Receivables | 0 | 6.75K | 6K | 0 | 1.36M | 2.43M | 1.39M | 134.85K | 78.65K | 0 |
| Goodwill & Intangibles | 0 | 0 | 0 | 143.46K | 14.8M | 15.54M | 15.88M | 14.73M | 14.7M | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 143.46K | 14.8M | 15.54M | 15.88M | 14.73M | 14.7M | 0 |
| PP&E (Net) | 0 | 0 | 0 | -143.46K | 14.8M | 15.54M | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 32K | 6.3K | -179.85M | 6.3K | 208.3K | 208.3K | 208.3K | 6.3K | 19.21M |
| Total Current Assets | 19.75K | 43.41K | 65.81K | 656.76K | 4.48M | 2.91M | 2.54M | 1.04M | 399.61K | 1.04M |
| Total Non-Current Assets | 0 | 55K | 653.62K | 1.56M | 21.23M | 28.85M | 39.28M | 40.51M | 20.5M | 25.02M |
| Total Assets | 19.75K▲ 0% | 98.41K▲ 398.3% | 719.43K▲ 631.1% | 2.21M▲ 207.7% | 25.72M▲ 1061.8% | 31.76M▲ 23.5% | 41.82M▲ 31.7% | 41.56M▼ 0.6% | 20.9M▼ 49.7% | 26.06M▲ 0% |
| Asset Growth % | -97.19% | 398.3% | 631.09% | 207.68% | 1061.78% | 23.51% | 31.67% | -0.63% | -49.7% | -155.12% |
| Return on Assets (ROA) | -229.57% | 221.96% | 142.54% | 41.25% | 10.52% | 12.19% | 8.03% | -11.96% | -90.62% | -111.6% |
| Accounts Payable | 301.9K | 295.67K | 295.43K | 295.43K | 4.15M | 914.59K | 653.53K | 793.33K | 2.94M | 1.67M |
| Total Debt | 1.87M | 1.14M | 1.12M | 1.06M | 5.33M | 4.14M | 2.79M | 2.42M | 2.68M | 492.44K |
| Net Debt | 1.87M | 1.13M | 1.1M | 1.05M | 2.85M | 3.67M | 2.22M | 1.56M | 2.39M | -223K |
| Long-Term Debt | 0 | 1M | 1M | 0 | 2.39M | 495.07K | 500K | 500K | 500K | 492.44K |
| Short-Term Debt | 1.87M | 136.39K | 118.28K | 1.06M | 2.94M | 3.65M | 2.29M | 1.92M | 2.18M | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 2.61M | 582.4K | 584.68K | 1.53M | 9.15M | 6.03M | 5.16M | 3.12M | 5.5M | 3.96M |
| Total Non-Current Liabilities | 0 | 1M | 1M | 0 | 2.39M | 495.07K | 500K | 500K | 500K | 492.44K |
| Total Liabilities | 2.61M | 1.58M | 1.58M | 1.53M | 11.54M | 6.52M | 5.66M | 3.62M | 6M | 4.46M |
| Total Equity | -2.59M▲ 0% | -1.48M▲ 42.7% | -865.26K▲ 41.7% | 679.16K▲ 178.5% | 14.18M▲ 1987.7% | 25.24M▲ 78.0% | 36.16M▲ 43.3% | 37.94M▲ 4.9% | 14.91M▼ 60.7% | 21.6M▲ 0% |
| Equity Growth % | -45.22% | 42.72% | 41.69% | 178.49% | 1987.67% | 78% | 43.26% | 4.93% | -60.71% | -179.97% |
| Equity / Assets (Capital Ratio) | -13118.81% | -1508.04% | -120.27% | 30.68% | 55.14% | 79.46% | 86.46% | 91.3% | 71.31% | 82.9% |
| Return on Equity (ROE) | - | - | - | 89.06% | 19.78% | 17.78% | 9.63% | -13.46% | -107.11% | -138.8% |
| Book Value per Share | -10.20 | -4.65 | -2.33 | 1.69 | 8.61 | 9.18 | 7.73 | 219.39 | 10.74 | 3.85 |
| Tangible BV per Share | -10.20 | -4.65 | -2.33 | 1.33 | -0.38 | 3.53 | 4.34 | 134.20 | 0.15 | 3.85 |
| Common Stock | 530K | 731.69K | 752.52K | 831.27K | 2.18K | 2.93K | 6.44K | 22.88K | 202.19K | 6.85K |
| Additional Paid-in Capital | 0 | 1.43M | 1.45M | 3.14M | 15.17M | 22.48M | 30.5M | 37.32M | 42.53M | 0 |
| Retained Earnings | -3.78M | -3.65M | -3.07M | -2.46M | -992.62K | 2.51M | 5.47M | 479.56K | -27.82M | -35.41M |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 244.25K | 0 | 122.12K | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NCPL Cash Flow Statement
Netcapital Inc. (NCPL) cash flow — operating, investing & free cash flow history
| Line item | Apr'17 | Apr'18 | Apr'19 | Apr'20 | Apr'21 | Apr'22 | Apr'23 | Apr'24 | Apr'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -14.18K | -50.16K | 30.56K | -3.6K | -3.25M | -3.01M | -4.62M | -4.88M | -5.34M | -5.34M |
| Operating CF Growth % | 34.75% | -253.73% | 160.93% | -111.79% | -90101.66% | 7.51% | -53.57% | -5.69% | -9.41% | -117.76% |
| Net Income | -828.12K | 131.13K | 582.88K | 604.85K | 1.47M | 3.5M | 2.95M | -4.99M | -28.3M | -28.13M |
| Depreciation & Amortization | 381.06K | 0 | 0 | 0 | -2.51M | 0 | 96.41K | 93.86K | 35.48K | 80.91K |
| Deferred Taxes | -385.35K | 0 | 0 | -180K | 613K | 544K | 680K | -1.66M | 0 | 0 |
| Other Non-Cash Items | 988.61K | -385.82K | 29.75K | -825.49K | -2.32M | -7.49M | -9.78M | 584.37K | 20.01M | 17.58M |
| Working Capital Changes | 110.13K | 74.33K | -647.23K | 40.78K | -1.18M | -739.34K | 1.16M | -239.67K | 2.16M | 723.72K |
| Cash from Investing | 0 | 0 | 0 | 0 | 242.03K | -319.17K | 200K | -20K | 0 | -100K |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | -319.17K | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 200K | 0 | 0 | 0 |
| Net Investment Activity | 0 | 0 | 0 | 0 | 0 | -319.17K | 200K | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 242.03K | -117.17K | 0 | 0 | 0 | 0 |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 117.17K | 0 | -20K | 0 | -100K |
| Cash from Financing | 16.66K | 48.49K | -13.1K | -4.3K | 5.47M | 1.33M | 4.51M | 5.19M | 4.77M | 8.59M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 7K | 0 | 5K | 0 | 0 | 0 | 5.57M | 5.54M | 4.51M | 8.65M |
| Net Stock Activity | 7K | 0 | 5K | 0 | 0 | 0 | 5.57M | 5.54M | 4.51M | 8.65M |
| Debt Issuance (Net) | 0 | 48.49K | -18.1K | -4.3K | 1000K | 700K | -1000K | -350K | 256.5K | -63.35K |
| Other Financing | 16.66K | 0 | 0 | 0 | 1.2M | 625.8K | 0 | 4.97K | 0 | 0 |
| Net Change in Cash | 2.48K▲ 0% | -1.67K▼ 167.3% | 17.45K▲ 1145.8% | -7.9K▼ 145.3% | 2.46M▲ 31258.3% | -2M▼ 181.2% | 95.52K▲ 104.8% | 293.74K▲ 207.5% | -573.75K▼ 295.3% | 101.14K▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 843 | 3.32K | 1.66K | 19.11K | 11.21K | 2.47M | 473.93K | 569.44K | 863.18K | 1.68M |
| Cash at End | 3.32K | 1.66K | 19.11K | 11.21K | 2.47M | 473.93K | 569.44K | 863.18K | 289.43K | 715.44K |
| Interest Paid | 0 | 0 | 0 | 0 | 2.07K | 2.06K | 207.69K | 0 | 0 | 16.31K |
| Income Taxes Paid | 0 | 0 | 0 | 2.72K | 4.99K | 2.06K | 207.69K | 0 | 0 | -8.24K |
| Free Cash Flow | -14.18K▲ 0% | -50.16K▼ 253.7% | 30.56K▲ 160.9% | -3.6K▼ 111.8% | -3.25M▼ 90101.7% | -3.01M▲ 7.5% | -4.62M▼ 53.6% | -4.88M▼ 5.7% | -5.34M▼ 9.4% | -8.39M▲ 0% |
| FCF Growth % | 34.75% | -253.73% | 160.93% | -111.79% | -90101.66% | 7.51% | -53.57% | -5.69% | -9.41% | -41.45% |
NCPL Banking Ratios
Netcapital Inc. (NCPL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | - | 89.06% | 19.78% | 17.78% | 9.63% | -13.46% | -107.11% | -138.8% |
| Return on Assets (ROA) | -229.57% | 221.96% | 142.54% | 41.25% | 10.52% | 12.19% | 8.03% | -11.96% | -90.62% | -111.6% |
| Net Interest Margin | 0% | -70.62% | -2.7% | -0.85% | -0.34% | -0.4% | -0.22% | -0.11% | -0.23% | -0.21% |
| Efficiency Ratio | 881.03% | 251.27% | 35.91% | 33.94% | 92.42% | 116.8% | 72.25% | 167.34% | 1047.79% | 1273.24% |
| Equity / Assets | -13118.81% | -1508.04% | -120.27% | 30.68% | 55.14% | 79.46% | 86.46% | 91.3% | 71.31% | 82.9% |
| Book Value / Share | -10.2 | -4.65 | -2.33 | 1.69 | 8.61 | 9.18 | 7.73 | 219.39 | 10.74 | 3.85 |
| NII Growth | - | - | 72.07% | 2.73% | -362.59% | -44.7% | 25.74% | 50.99% | -4.86% | -38.07% |
| Dividend Payout | - | - | - | - | - | - | - | - | - | 0% |
NCPL Frequently Asked Questions
Netcapital Inc. (NCPL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Netcapital Inc. (NCPL) saw revenue decline by 82.4% over the past year.
Netcapital Inc. (NCPL) reported a net loss of $28.1M for fiscal year 2025.
Dividend & Returns
Netcapital Inc. (NCPL) has a return on equity (ROE) of -107.1%. Negative ROE indicates the company is unprofitable.
Industry Metrics
Netcapital Inc. (NCPL) has a net interest margin (NIM) of -0.2%. NIM has been under pressure due to interest rate environment.
Netcapital Inc. (NCPL) has an efficiency ratio of 1047.8%. This is higher than peers, suggesting room for cost optimization.
Explore More NCPL
Netcapital Inc. (NCPL) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates