NetClass Technology Inc(NTCL)Earnings, Financials & Key Ratios
NTCL•NASDAQ
$0.37
$6M mkt cap·Price updated May 6, 2026
AboutNetClass Technology Inc, through its subsidiaries, provides online professional education platform and related courseware in the People's Republic of China, Hong Kong, Singapore, and the Cayman Islands. Its solutions modules include teaching management, campus management, online teaching, online examination, epidemic prevention and control, data storage and computing system, EDC blockchain system, and lecturer evaluation services. The company also offers smart education information technology (IT) solutions to schools, training institutions, corporations, public agencies, other institutions, and corporate customers; and software as a service (SaaS) subscription service and application development services. In addition, it provides NetClass mobile learning platforms for online leaning; artificial intelligence assisted online education systems; and IT consulting and data analysis solutions. The company was incorporated in 2022 and is headquartered in Shanghai, the People's Republic of China. NetClass Technology Inc operates as a subsidiary of Dragonsoft Holding Limited.Show more
- Revenue$10M-8.9%
- EBITDA-$1M-364.7%
- Net Income-$1M-1010.9%
- EPS (Diluted)-0.09-968.5%
- Gross Margin22.92%+7.7%
- EBITDA Margin-12.65%-390.6%
- Operating Margin-12.76%-465.9%
- Net Margin-14.63%-1100.0%
- ROE-39.38%-931.9%
- ROIC-29.12%-416.7%
- Debt/Equity0.00-65.0%
NTCL Key Insights
NetClass Technology Inc (NTCL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Efficient asset utilization: 1.4x turnover
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Thin 5Y average net margin of 0.9%
- ✗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.
NTCL Price & Volume
NetClass Technology Inc (NTCL) stock price & volume — 10-year historical chart
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NTCL Growth Metrics
NetClass Technology Inc (NTCL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-4.39%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-
Return on Capital
10 Years8.89%
5 Years8.89%
3 Years-7.02%
Last Year-34.28%
NTCL Peer Comparison
NetClass Technology Inc (NTCL) competitors in Vertical industry SaaS applications — 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 |
|---|---|---|---|---|---|---|---|---|
 GOTU | 759.78M | 1.97 | -4.87 | 55.99% | -6.4% | -21.76% | 0.25 | |
 EDTK | 15.93M | 1.00 | -5.26 | -55.29% | -416.15% | -133.28% | 0.05 | |
 TAL | 773.5M | 11.44 | 9.08 | 51.22% | 6.45% | 4.72% | 0.09 | |
 EDU | 8.96B | 56.30 | 24.48 | 13.6% | 7.37% | 9.09% | 0.20 | |
 DAO | 362.86M | 11.60 | 3.56% | 1.82% | ||||
 FEDU | 2.23M | 10.50 | 18.84 | 100.15% | 0.32% | 0.16% | 0.19 | |
 COE | 2.51M | 26.00 | -0.36 | 86.98% | -13.42% | |||
 ZM | 32.31B | 105.13 | 17.01 | 4.36% | 39.03% | 19.37% | 0.00 |
Compare NTCL vs Peers
NetClass Technology Inc (NTCL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NTCL Income Statement
NetClass Technology Inc (NTCL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 |
|---|---|---|---|---|---|
| Sales/Revenue | 2.98M | 11.56M | 9.26M | 11.09M | 10.1M |
| Revenue Growth % | - | 288.41% | -19.9% | 19.79% | -8.91% |
| Cost of Goods Sold | 1.91M | 7.58M | 6.22M | 8.73M | 7.79M |
| COGS % of Revenue | 64.09% | 65.59% | 67.15% | 78.72% | 77.08% |
| Gross Profit | 1.07M▲ 0% | 3.98M▲ 272.3% | 3.04M▼ 23.5% | 2.36M▼ 22.4% | 2.31M▼ 1.9% |
| Gross Margin % | 35.91% | 34.41% | 32.85% | 21.28% | 22.92% |
| Gross Profit Growth % | - | 272.26% | -23.55% | -22.4% | -1.9% |
| Operating Expenses | 993.85K | 2.77M | 2.99M | 1.97M | 3.6M |
| OpEx % of Revenue | 33.4% | 23.96% | 32.32% | 17.79% | 35.68% |
| Selling, General & Admin | 557.87K | 2.36M | 2.16M | 1.41M | 1.09M |
| SG&A % of Revenue | 18.75% | 20.45% | 23.38% | 12.67% | 10.78% |
| Research & Development | 435.98K | 406.75K | 828.31K | 567.81K | 2.52M |
| R&D % of Revenue | 14.65% | 3.52% | 8.95% | 5.12% | 24.9% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 74.59K▲ 0% | 1.21M▲ 1519.0% | 48.37K▼ 96.0% | 386.7K▲ 699.5% | -1.29M▼ 433.3% |
| Operating Margin % | 2.51% | 10.45% | 0.52% | 3.49% | -12.76% |
| Operating Income Growth % | - | 1518.98% | -95.99% | 699.47% | -433.29% |
| EBITDA | 190.53K | 1.34M | 166.93K | 482.83K | -1.28M |
| EBITDA Margin % | 6.4% | 11.58% | 1.8% | 4.35% | -12.65% |
| EBITDA Growth % | - | 602.49% | -87.53% | 189.24% | -364.69% |
| D&A (Non-Cash Add-back) | 115.94K | 130.83K | 118.56K | 96.13K | 10.82K |
| EBIT | 74.59K | 1.21M | 48.37K | 386.7K | -1.29M |
| Net Interest Income | -234 | -11.91K | -8.57K | -4.56K | 209 |
| Interest Income | 0 | 0 | 0 | 0 | 209 |
| Interest Expense | 234 | 11.91K | 8.57K | 4.56K | 0 |
| Other Income/Expense | 150.44K | 22.38K | 15.78K | 32.86K | -14.58K |
| Pretax Income | 225.03K▲ 0% | 1.23M▲ 446.6% | 64.15K▼ 94.8% | 419.56K▲ 554.0% | -1.3M▼ 410.7% |
| Pretax Margin % | 7.56% | 10.64% | 0.69% | 3.78% | -12.9% |
| Income Tax | 17.26K | 163.48K | -68.54K | 257.33K | 86.31K |
| Effective Tax Rate % | 7.67% | 13.29% | -106.84% | 61.33% | -6.62% |
| Net Income | 207.86K▲ 0% | 1.07M▲ 413.1% | 132.69K▼ 87.6% | 162.23K▲ 22.3% | -1.48M▼ 1010.9% |
| Net Margin % | 6.99% | 9.23% | 1.43% | 1.46% | -14.63% |
| Net Income Growth % | - | 413.11% | -87.56% | 22.26% | -1010.94% |
| Net Income (Continuing) | 207.78K | 1.07M | 132.69K | 162.23K | -1.39M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -45.18K | 0 | 0 | 0 | 91.07K |
| EPS (Diluted) | 0.01▲ 0% | 0.07▲ 411.5% | 0.01▼ 87.6% | 0.01▲ 22.7% | -0.09▼ 968.5% |
| EPS Growth % | - | 411.51% | -87.62% | - | -968.52% |
| EPS (Basic) | 0.01 | 0.07 | 0.01 | 0.01 | -0.09 |
| Diluted Shares Outstanding | 15M | 15M | 15M | 15.02M | 15.76M |
| Basic Shares Outstanding | 15M | 15M | 15M | 15.02M | 15.76M |
| Dividend Payout Ratio | - | - | - | - | - |
NTCL Balance Sheet
NetClass Technology Inc (NTCL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 |
|---|---|---|---|---|---|
| Total Current Assets | 3.33M | 3.84M | 4.02M | 6.31M | 7.09M |
| Cash & Short-Term Investments | 306.46K | 1.04M | 208.21K | 524.6K | 410.72K |
| Cash Only | 306.46K | 1.04M | 208.21K | 524.6K | 410.72K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.74M | 2.51M | 3.37M | 2.29M | 5.3M |
| Days Sales Outstanding | 213.18 | 79.32 | 132.75 | 75.28 | 191.43 |
| Inventory | 656.98K | 249.15K | 94.57K | 1.06M | 1.19M |
| Days Inventory Outstanding | 125.74 | 12 | 5.55 | 44.22 | 56 |
| Other Current Assets | 67.02K | 0 | 315.86K | 2M | 143.03K |
| Total Non-Current Assets | 579.51K | 381.26K | 330.25K | 226.6K | 141.27K |
| Property, Plant & Equipment | 388.89K | 281.16K | 145.47K | 103.23K | 52.83K |
| Fixed Asset Turnover | 7.65x | 41.11x | 63.64x | 107.42x | 191.21x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 190.61K | 0 | 184.78K | 123.37K | 88.44K |
| Total Assets | 3.91M▲ 0% | 4.22M▲ 7.9% | 4.35M▲ 3.2% | 6.54M▲ 50.2% | 7.23M▲ 10.5% |
| Asset Turnover | 0.76x | 2.74x | 2.13x | 1.70x | 1.40x |
| Asset Growth % | - | 7.88% | 3.22% | 50.24% | 10.51% |
| Total Current Liabilities | 2.44M | 1.69M | 1.94M | 2.08M | 4.17M |
| Accounts Payable | 1.46M | 1.01M | 1.01M | 1.15M | 2.86M |
| Days Payables Outstanding | 279.65 | 48.44 | 59.31 | 48.24 | 134.09 |
| Short-Term Debt | 93.54K | 98.55K | 130.94K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 413.01K | 0 | 0 | 0 |
| Other Current Liabilities | 841.42K | 70.39K | 395.15K | 472.67K | 766.33K |
| Current Ratio | 1.36x | 2.27x | 2.07x | 3.03x | 1.70x |
| Quick Ratio | 1.10x | 2.12x | 2.02x | 2.52x | 1.41x |
| Cash Conversion Cycle | 59.27 | 42.88 | 78.99 | 71.26 | 113.34 |
| Total Non-Current Liabilities | 93.53K | 0 | 0 | 12.71K | 0 |
| Long-Term Debt | 93.53K | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 12.71K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.53M | 1.69M | 1.94M | 2.1M | 4.17M |
| Total Debt | 187.07K | 98.55K | 130.94K | 54.36K | 13.12K |
| Net Debt | -119.39K | -943.38K | -77.27K | -470.25K | -397.59K |
| Debt / Equity | 0.14x | 0.04x | 0.05x | 0.01x | 0.00x |
| Debt / EBITDA | 0.98x | 0.07x | 0.78x | 0.11x | - |
| Net Debt / EBITDA | -0.63x | -0.70x | -0.46x | -0.97x | - |
| Interest Coverage | 318.76x | 101.39x | 5.64x | 84.84x | - |
| Total Equity | 1.38M▲ 0% | 2.53M▲ 83.6% | 2.41M▼ 4.6% | 4.44M▲ 84.3% | 3.06M▼ 31.1% |
| Equity Growth % | - | 83.64% | -4.57% | 84.31% | -31.09% |
| Book Value per Share | 0.09 | 0.17 | 0.16 | 0.30 | 0.19 |
| Total Shareholders' Equity | 1.42M | 2.53M | 2.41M | 4.44M | 2.97M |
| Common Stock | 10K | 3.75K | 3.75K | 3.94K | 3.94K |
| Retained Earnings | -1.49M | -424.28K | -291.59K | -129.36K | -1.67M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -59.49K | 24.79K | -223.31K | -252.75K | -186.13K |
| Minority Interest | -45.18K | 0 | 0 | 0 | 91.07K |
NTCL Cash Flow Statement
NetClass Technology Inc (NTCL) cash flow — operating, investing & free cash flow history
| Line item | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 |
|---|---|---|---|---|---|
| Cash from Operations | -65.53K | 745.8K | -571.45K | 391.88K | -135.66K |
| Operating CF Margin % | -2.2% | 6.45% | -6.17% | 3.53% | -1.34% |
| Operating CF Growth % | - | 1238.18% | -176.62% | 168.58% | -134.62% |
| Net Income | 207.86K | 1.07M | 132.69K | 162.23K | -1.48M |
| Depreciation & Amortization | 115.94K | 130.83K | 118.56K | 134.79K | 52.97K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.25M | -266.13K | 65.76K | 609.83K | 1.87M |
| Working Capital Changes | -1.64M | -185.44K | -888.46K | -514.97K | -581.46K |
| Change in Receivables | -1.3M | -714.03K | -1.21M | 1.08M | -3.03M |
| Change in Inventory | -636.47K | 466.16K | 159.46K | 0 | -60.04K |
| Change in Payables | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -21.64K | 19.57K | 0 | 0 | 0 |
| Capital Expenditures | -40.91K | -3.48K | 0 | 0 | 0 |
| CapEx % of Revenue | 1.37% | 0.03% | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 19.27K | 23.05K | 0 | 0 | 0 |
| Cash from Financing | 176.52K | -30.23K | -125.58K | -152.91K | 10.87K |
| Debt Issued (Net) | 181.23K | -97.6K | 45.21K | -132.03K | 0 |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -4.71K | 67.37K | -170.79K | -20.88K | 10.87K |
| Net Change in Cash | 306.46K▲ 0% | 735.48K▲ 140.0% | -740.23K▼ 200.6% | 222.9K▲ 130.1% | -109.32K▼ 149.0% |
| Free Cash Flow | -106.43K▲ 0% | 742.32K▲ 797.5% | -571.45K▼ 177.0% | 391.88K▲ 168.6% | -135.66K▼ 134.6% |
| FCF Margin % | -3.58% | 6.42% | -6.17% | 3.53% | -1.34% |
| FCF Growth % | - | 797.46% | -176.98% | 168.58% | -134.62% |
| FCF per Share | -0.01 | 0.05 | -0.04 | 0.03 | -0.01 |
| FCF Conversion (FCF/Net Income) | -0.32x | 0.70x | -4.31x | 2.42x | 0.09x |
| Interest Paid | 0 | 13.99K | 9.68K | 5.78K | 0 |
| Taxes Paid | 0 | 0 | 1.62K | 578 | 289 |
NTCL Key Ratios
NetClass Technology Inc (NTCL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Return on Equity (ROE) | 15.11% | 54.66% | 5.37% | 4.73% | -39.38% |
| Return on Invested Capital (ROIC) | 4.45% | 63.8% | 1.85% | 9.2% | -29.12% |
| Gross Margin | 35.91% | 34.41% | 32.85% | 21.28% | 22.92% |
| Net Margin | 6.99% | 9.23% | 1.43% | 1.46% | -14.63% |
| Debt / Equity | 0.14x | 0.04x | 0.05x | 0.01x | 0.00x |
| Interest Coverage | 318.76x | 101.39x | 5.64x | 84.84x | - |
| FCF Conversion | -0.32x | 0.70x | -4.31x | 2.42x | 0.09x |
| Revenue Growth | - | 288.41% | -19.9% | 19.79% | -8.91% |
NTCL Frequently Asked Questions
NetClass Technology Inc (NTCL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
NetClass Technology Inc (NTCL) reported $10.1M in revenue for fiscal year 2024. This represents a 239% increase from $3.0M in 2020.
NetClass Technology Inc (NTCL) saw revenue decline by 8.9% over the past year.
NetClass Technology Inc (NTCL) reported a net loss of $1.5M for fiscal year 2024.
Dividend & Returns
NetClass Technology Inc (NTCL) has a return on equity (ROE) of -39.4%. Negative ROE indicates the company is unprofitable.
NetClass Technology Inc (NTCL) had negative free cash flow of $0.1M in fiscal year 2024, likely due to heavy capital investments.
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NetClass Technology Inc (NTCL) financial analysis — history, returns, DCA and operating performance tools
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