Ncs Multistage Hldgs Inc Financials
Ncs Multistage Hldgs Inc (NCSM) reported $183.6M in revenue for fiscal year 2025, up 13.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
NCS Multistage’s turnaround is being driven by operating leverage: gross profit scaled faster than overhead while balance-sheet risk fell.
Between FY2023 and FY2025, SG&A barely moved while revenue added$41.2M , so the swing to$10.5M of operating income reads as fixed-cost absorption rather than a sudden step-up in product economics. FY2025 net income was also lifted by a tax benefit of$9.2M , so$22.2M of operating cash flow is the cleaner sign that the improvement is operational as well as accounting.
The business is becoming cash generative without heavy reinvestment: FY2025 free cash flow reached
The balance sheet now looks self-funded, with cash of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ncs Multistage Hldgs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Ncs Multistage Hldgs Inc, and counted as zero in the overall score.
Ncs Multistage Hldgs Inc scores 2.01, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($127.5M) relative to total liabilities ($38.1M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ncs Multistage Hldgs Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ncs Multistage Hldgs Inc generates $0.93 in operating cash flow ($22.2M OCF vs $23.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Ncs Multistage Hldgs Inc generated $183.6M in revenue in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Ncs Multistage Hldgs Inc's EBITDA was $16.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 70.4% from the prior year.
Ncs Multistage Hldgs Inc reported $23.7M in net income in fiscal year 2025. This represents an increase of 260.2% from the prior year.
Ncs Multistage Hldgs Inc earned $8.65 per diluted share (EPS) in fiscal year 2025. This represents an increase of 239.2% from the prior year.
Cash & Balance Sheet
Ncs Multistage Hldgs Inc generated $21.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 83.7% from the prior year.
Ncs Multistage Hldgs Inc held $36.7M in cash against $5.3M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Ncs Multistage Hldgs Inc's gross margin was 41.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.
Ncs Multistage Hldgs Inc's operating margin was 5.7% in fiscal year 2025, reflecting core business profitability. This is up 3.1 percentage points from the prior year.
Ncs Multistage Hldgs Inc's net profit margin was 12.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 8.9 percentage points from the prior year.
Ncs Multistage Hldgs Inc's ROE was 18.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.1 percentage points from the prior year.
Capital Allocation
Ncs Multistage Hldgs Inc invested $2.0M in research and development in fiscal year 2025. That is unchanged from the prior year.
Ncs Multistage Hldgs Inc invested $1.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.3% from the prior year.
Not reported for fiscal year 2025.
NCSM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $181.2M | $183.6M+13.0% | $162.6M+14.1% | $142.5M-8.5% | $155.6M+31.3% | $118.5M+10.8% | $107.0M-47.9% | $205.5M-9.5% | $227.0M+12.6% | $201.6M+104.7% | $98.5M-13.6% | $114.0M |
| Cost of Revenue | $108.5M | $108.2M+13.8% | $95.1M+9.5% | $86.9M-8.8% | $95.2M+36.0% | $70.0M+11.3% | $62.9M-41.8% | $108.0M-0.3% | $108.3M+9.6% | $98.8M+83.5% | $53.8M-1.6% | $54.7M |
| Gross Profit | $72.7M | $75.4M+11.8% | $67.5M+21.3% | $55.6M-7.9% | $60.4M+24.6% | $48.5M+10.0% | $44.1M-54.8% | $97.5M-17.9% | $118.7M+15.4% | $102.8M+130.3% | $44.6M-24.7% | $59.3M |
| R&D Expenses | N/A | $2.0M0.0% | $2.0M-20.0% | $2.5M-7.4% | $2.7M+28.6% | $2.1M+10.5% | $1.9M-32.1% | $2.8M-26.3% | $3.8M+26.7% | $3.0M-9.1% | $3.3M+10.0% | $3.0M |
| SG&A Expenses | $62.7M | $58.8M+1.8% | $57.8M+2.3% | $56.5M-3.1% | $58.3M+18.8% | $49.1M-17.4% | $59.4M-32.9% | $88.6M+6.9% | $82.8M+28.0% | $64.7M+74.6% | $37.1M-2.0% | $37.8M |
| Operating Income | $3.5M | $10.5M+143.7% | $4.3M+178.2% | -$5.5M-145.5% | -$2.3M+56.0% | -$5.1M+92.8% | -$71.4M-652.7% | -$9.5M+95.4% | -$206.7M-4267.5% | $5.0M+127.6% | -$18.0M-210.9% | -$5.8M |
| Income Tax | -$9.4M | -$9.2M-8045.7% | $116K+150.0% | -$232K-166.1% | $351K+33.5% | $263K+103.4% | -$7.8M-172.4% | $10.8M+146.6% | -$23.1M-3540.6% | $670K+107.6% | -$8.8M+45.6% | -$16.2M |
| Net Income | $13.8M | $23.7M+260.2% | $6.6M+309.1% | -$3.2M-186.1% | -$1.1M+76.7% | -$4.7M+91.8% | -$57.6M-75.5% | -$32.8M+82.8% | -$190.3M-9154.1% | $2.1M+111.7% | -$17.9M-164.0% | $28.0M |
| EPS (Diluted) | — | $8.65+239.2% | $2.55+300.8% | -$1.27-182.2% | -$0.45+77.3% | -$1.98+91.9% | -$24.37-73.1% | -$14.08 | -$85.00 | $0.05+109.4% | -$0.53-161.6% | $0.86 |
Not reported in any period shown, so not listed: Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
NCSM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $181.2M+18.6% | $152.8M+0.5% | $152.0M+9.7% | $138.6M-2.6% | $142.3M+2.6% | $138.7M-31.5% | $202.6M-11.8% | $229.7M-50.5% | $463.9M+41.9% | $326.8M | N/A |
| Current Assets | $121.9M+15.5% | $105.6M+2.3% | $103.2M+17.7% | $87.7M-0.9% | $88.5M+5.8% | $83.7M-16.8% | $100.6M-12.2% | $114.6M-2.7% | $117.8M+57.0% | $75.0M | N/A |
| Cash & Equivalents | $36.7M+41.9% | $25.9M+54.8% | $16.7M+3.0% | $16.2M-26.8% | $22.2M+42.6% | $15.5M+38.3% | $11.2M-55.3% | $25.1M-25.7% | $33.8M+85.0% | $18.3M+91.5% | $9.5M |
| Inventory | $39.0M-4.8% | $41.0M-1.5% | $41.6M+12.3% | $37.0M+9.2% | $33.9M-2.7% | $34.9M-12.6% | $39.9M+21.9% | $32.8M-1.2% | $33.1M+94.7% | $17.0M | N/A |
| Accounts Receivable | $40.5M+28.5% | $31.5M+31.4% | $24.0M-13.9% | $27.8M+14.2% | $24.4M+11.3% | $21.9M-47.7% | $42.0M-16.1% | $50.0M+4.4% | $47.9M+49.1% | $32.1M | N/A |
| Goodwill | $16.4M+7.7% | $15.2M0.0% | $15.2M0.0% | $15.2M0.0% | $15.2M0.0% | $15.2M0.0% | $15.2M-34.1% | $23.1M-87.5% | $184.5M+51.1% | $122.1M+2.3% | $119.3M |
| Total Liabilities | $38.1M+3.8% | $36.7M-13.9% | $42.6M+45.3% | $29.3M-7.3% | $31.7M+25.7% | $25.2M-35.5% | $39.0M-27.0% | $53.5M-43.7% | $94.9M-36.4% | $149.3M | N/A |
| Current Liabilities | $28.5M+12.2% | $25.4M-20.7% | $32.1M+81.2% | $17.7M-10.7% | $19.8M+33.1% | $14.9M-24.8% | $19.8M-22.8% | $25.6M-19.1% | $31.7M+80.6% | $17.5M | N/A |
| Long-Term Debt | $5.3M-12.4% | $6.0M-5.4% | $6.3M-1.4% | $6.4M+1.6% | $6.3M+42.6% | $4.4M-61.2% | $11.4M-51.2% | $23.5M+8.1% | $21.7M-75.4% | $88.4M | N/A |
| Total Equity | $126.2M+27.7% | $98.8M+7.9% | $91.6M+0.6% | $91.0M-1.7% | $92.6M-1.1% | $93.6M-35.3% | $144.6M-10.3% | $161.3M-54.8% | $356.8M+101.1% | $177.5M-5.3% | $187.5M |
| Retained Earnings | -$235.3M+9.2% | -$259.0M+2.5% | -$265.6M-1.2% | -$262.5M-0.4% | -$261.4M-1.8% | -$256.6M-28.9% | -$199.0M-19.7% | -$166.2M-796.5% | $23.9M+9.7% | $21.8M | N/A |
NCSM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $19.7M | $22.2M+74.3% | $12.7M+166.5% | $4.8M+435.5% | -$1.4M-112.3% | $11.6M-67.0% | $35.1M+95.6% | $17.9M+28.0% | $14.0M-13.0% | $16.1M+50.8% | $10.7M+144.5% | $4.4M |
| Capital Expenditures | $1.5M | $1.2M-8.3% | $1.3M-30.4% | $1.9M+81.8% | $1.0M+109.1% | $495K-76.4% | $2.1M-65.7% | $6.1M-45.0% | $11.1M+107.5% | $5.4M+363.8% | $1.2M+30.0% | $890K |
| Free Cash Flow | $18.1M | $21.0M+83.7% | $11.4M+294.7% | $2.9M+217.7% | -$2.5M-122.2% | $11.1M-66.4% | $33.0M+179.2% | $11.8M+308.9% | $2.9M-73.1% | $10.7M+12.8% | $9.5M+173.8% | $3.5M |
| Investing Cash Flow | -$6.8M | -$6.3M-1413.8% | $479K+128.5% | -$1.7M-141.1% | -$698K-57.2% | -$444K+58.1% | -$1.1M+78.8% | -$5.0M+67.5% | -$15.4M+81.9% | -$85.2M-4531.6% | -$1.8M-50.7% | -$1.2M |
| Financing Cash Flow | -$6.6M | -$5.3M-24.2% | -$4.3M-74.9% | -$2.4M+11.0% | -$2.7M+35.7% | -$4.3M+85.7% | -$29.8M-9.0% | -$27.3M-432.3% | -$5.1M-106.1% | $84.0M+26777.1% | -$315K+97.5% | -$12.8M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $175K | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
NCSM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.1%-0.4pp | 41.5%+2.5pp | 39.0%+0.2pp | 38.8%-2.1pp | 40.9%-0.3pp | 41.2%-6.2pp | 47.4%-4.9pp | 52.3%+1.3pp | 51.0%+5.7pp | 45.3%-6.7pp | 52.0% |
| Operating Margin | 5.7%+3.1pp | 2.7%+6.5pp | -3.9%-2.4pp | -1.5%+2.9pp | -4.3%+62.5pp | -66.8%-62.2pp | -4.6%+86.4pp | -91.1%-93.5pp | 2.5%+20.7pp | -18.3%-13.2pp | -5.1% |
| Net Margin | 12.9%+8.9pp | 4.1%+6.3pp | -2.2%-1.5pp | -0.7%+3.3pp | -4.0%+49.9pp | -53.8%-37.9pp | -16.0%+67.9pp | -83.9%-84.9pp | 1.0%+19.2pp | -18.2%-42.8pp | 24.6% |
| Return on Equity | 18.8%+12.1pp | 6.7%+10.1pp | -3.4%-2.2pp | -1.2%+3.9pp | -5.1%+56.4pp | -61.5%-38.8pp | -22.7%+95.3pp | -118.0%-118.6pp | 0.6%+10.7pp | -10.1%-25.1pp | 14.9% |
| Return on Assets | 13.1%+8.8pp | 4.3%+6.4pp | -2.1%-1.3pp | -0.8%+2.5pp | -3.3%+38.2pp | -41.5%-25.3pp | -16.2%+66.6pp | -82.8%-83.3pp | 0.4%+5.9pp | -5.5% | N/A |
| Current Ratio | 4.27+0.1x | 4.15+0.9x | 3.22-1.7x | 4.95+0.5x | 4.47-1.2x | 5.62+0.5x | 5.09+0.6x | 4.47+0.8x | 3.72-0.6x | 4.28 | N/A |
| Debt-to-Equity | 0.040.0x | 0.060.0x | 0.070.0x | 0.070.0x | 0.070.0x | 0.050.0x | 0.08-0.1x | 0.15+0.1x | 0.06-0.4x | 0.50 | N/A |
| FCF Margin | 11.4%+4.4pp | 7.0%+5.0pp | 2.0%+3.6pp | -1.6%-10.9pp | 9.4%-21.5pp | 30.9%+25.1pp | 5.8%+4.5pp | 1.3%-4.1pp | 5.3%-4.3pp | 9.7%+6.6pp | 3.0% |
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Where Ncs Multistage Hldgs Inc Ranks
Frequently Asked Questions
What is Ncs Multistage Hldgs Inc's annual revenue?
Ncs Multistage Hldgs Inc (NCSM) reported $183.6M in total revenue for fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ncs Multistage Hldgs Inc's revenue growing?
Ncs Multistage Hldgs Inc (NCSM) revenue grew by 13.0% year-over-year, from $162.6M to $183.6M in fiscal year 2025.
Is Ncs Multistage Hldgs Inc profitable?
Yes, Ncs Multistage Hldgs Inc (NCSM) reported a net income of $23.7M in fiscal year 2025, with a net profit margin of 12.9%.
What is Ncs Multistage Hldgs Inc's EBITDA?
Ncs Multistage Hldgs Inc (NCSM) had EBITDA of $16.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ncs Multistage Hldgs Inc have?
As of fiscal year 2025, Ncs Multistage Hldgs Inc (NCSM) had $36.7M in cash and equivalents against $5.3M in long-term debt.
What is Ncs Multistage Hldgs Inc's gross margin?
Ncs Multistage Hldgs Inc (NCSM) had a gross margin of 41.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ncs Multistage Hldgs Inc's operating margin?
Ncs Multistage Hldgs Inc (NCSM) had an operating margin of 5.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ncs Multistage Hldgs Inc's net profit margin?
Ncs Multistage Hldgs Inc (NCSM) had a net profit margin of 12.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ncs Multistage Hldgs Inc's return on equity (ROE)?
Ncs Multistage Hldgs Inc (NCSM) has a return on equity of 18.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ncs Multistage Hldgs Inc's free cash flow?
Ncs Multistage Hldgs Inc (NCSM) generated $21.0M in free cash flow during fiscal year 2025. This represents a 83.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ncs Multistage Hldgs Inc's operating cash flow?
Ncs Multistage Hldgs Inc (NCSM) generated $22.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ncs Multistage Hldgs Inc's total assets?
Ncs Multistage Hldgs Inc (NCSM) had $181.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ncs Multistage Hldgs Inc's capital expenditures?
Ncs Multistage Hldgs Inc (NCSM) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ncs Multistage Hldgs Inc spend on research and development?
Ncs Multistage Hldgs Inc (NCSM) invested $2.0M in research and development during fiscal year 2025.
What is Ncs Multistage Hldgs Inc's current ratio?
Ncs Multistage Hldgs Inc (NCSM) had a current ratio of 4.27 as of fiscal year 2025, which is generally considered healthy.
What is Ncs Multistage Hldgs Inc's debt-to-equity ratio?
Ncs Multistage Hldgs Inc (NCSM) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ncs Multistage Hldgs Inc's return on assets (ROA)?
Ncs Multistage Hldgs Inc (NCSM) had a return on assets of 13.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ncs Multistage Hldgs Inc's Altman Z-Score?
Ncs Multistage Hldgs Inc (NCSM) has an Altman Z-Score of 2.01, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ncs Multistage Hldgs Inc's Piotroski F-Score?
Ncs Multistage Hldgs Inc (NCSM) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ncs Multistage Hldgs Inc's earnings high quality?
Ncs Multistage Hldgs Inc (NCSM) has an earnings quality ratio of 0.93x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ncs Multistage Hldgs Inc?
Ncs Multistage Hldgs Inc (NCSM) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.