What is NCS Multistage Holdings, Inc.'s earnings per share (EPS)?

NCS Multistage Holdings, Inc. (NCSM) reported diluted earnings per share of $8.65 for fiscal year 2025. This represents a 239.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

NCS Multistage Holdings, Inc. (NCSM) Financials

NCSM

Trailing 12 months to June 30, 2026

Revenue $181.2M +3.2% YoY

Net Income $13.8M +9.5% YoY

EPS (Diluted) $4.95 +3.3% YoY

Free Cash Flow $18.1M +99.6% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NCSM SEC filings page.

NCS Multistage Holdings, Inc. (NCSM) reported $181.2M in revenue over the twelve months to Jun 30, 2026, up 3.2% from the prior twelve months. 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).

Rhea AI NCSM FY2025 2026-10-04

FY2025 shows a business shifting from losses to cash-backed profitability while keeping debt low and relying little on reinvestment.

After the earlier loss-making period, FY2025’s 5.7% operating margin arrived alongside $22.2M of operating cash flow, indicating the turnaround reached both operations and cash generation. Yet a 12.9% net margin was more than twice the operating margin of 5.7%, indicating that reported earnings also included a material tax benefit rather than reflecting operating improvement alone.

Revenue expanded to $183.6M in FY2025 while gross margin held at 41.1%, suggesting growth did not require a major deterioration in underlying economics. Operating margin moved from negative in FY2023 to positive in FY2025, pointing to cost absorption or mix improvement rather than revenue growth alone.

FY2025 free cash flow of $21.0M closely tracked operating cash flow of $22.2M, showing that earnings converted into cash without heavy reinvestment. Liabilities of $38.1M against equity of $126.2M describe a balance sheet funded mainly by equity rather than debt.

Financial Health Signals

Financial Health Score 61/100

Scored as: Energy peer group

Scored against energy 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 Holdings, 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.

Profitability

NCS Multistage Holdings, Inc. has an operating margin of 5.7%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 21/100, suggesting thin profitability after operating expenses. This is up from 2.7% the prior year.

Growth

NCS Multistage Holdings, Inc.'s revenue grew 13.0% year-over-year to $183.6M, a solid pace of expansion. This earns a growth score of 74/100.

Leverage

NCS Multistage Holdings, Inc. carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.27, NCS Multistage Holdings, Inc. holds $4.27 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.

Cash Flow

NCS Multistage Holdings, Inc. has a free cash flow margin of 11.4%, earning a moderate score of 63/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

NCS Multistage Holdings, Inc. generates a 18.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100. This is up from 6.7% the prior year.

Altman Z-Score Grey Zone

2.21

NCS Multistage Holdings, Inc. scores 2.21, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($140.0M) 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.

Piotroski F-Score Neutral

5/9

NCS Multistage Holdings, 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.

Earnings Quality Mixed

0.93x

For every $1 of reported earnings, NCS Multistage Holdings, 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.

Interest Coverage Safe

41.99x

NCS Multistage Holdings, Inc. earns $41.99 in operating income for every $1 of interest expense ($10.5M vs $251K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$38.4M

YoY+5.2%

QoQ-15.9%

5Y CAGR+12.3%

10Y CAGR+13.0%

NCS Multistage Holdings, Inc. generated $38.4M in revenue in Q2 2026. This represents an increase of 5.2% from the same quarter a year earlier. Against the prior quarter it is down 15.9%.

EBITDA

-$4.0M

YoY-574.6%

QoQ-264.3%

NCS Multistage Holdings, Inc.'s EBITDA was -$4.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 574.6% from the same quarter a year earlier. Against the prior quarter it is down 264.3%.

Net Income

-$4.6M

YoY-598.5%

QoQ-1141.5%

NCS Multistage Holdings, Inc. reported -$4.6M in net income in Q2 2026. This represents a decrease of 598.5% from the same quarter a year earlier. Against the prior quarter it is down 1141.5%.

EPS (Diluted)

-$1.71

YoY-602.9%

QoQ-1121.4%

NCS Multistage Holdings, Inc. earned -$1.71 per diluted share (EPS) in Q2 2026. This represents a decrease of 602.9% from the same quarter a year earlier. Against the prior quarter it is down 1121.4%.

Cash & Balance Sheet

Free Cash Flow

-$2.4M

YoY-174.4%

QoQ-449.6%

NCS Multistage Holdings, Inc. recorded an outflow of $2.4M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 174.4% from the same quarter a year earlier. Against the prior quarter it is down 449.6%.

Cash & Debt

$31.3M

YoY+23.4%

QoQ-9.1%

5Y CAGR+17.6%

10Y CAGR+4.1%

NCS Multistage Holdings, Inc. held $31.3M in cash against $5.2M in long-term debt as of Q2 2026.

Shares Outstanding

YoY+3.3%

QoQ0.0%

5Y CAGR+2.0%

NCS Multistage Holdings, Inc. had 3M shares outstanding in Q2 2026. This represents an increase of 3.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

36.4%

YoY+0.7pp

QoQ-3.5pp

5Y change+1.2pp

10Y change-6.1pp

NCS Multistage Holdings, Inc.'s gross margin was 36.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.

Operating Margin

-14.6%

YoY-9.0pp

QoQ-16.5pp

5Y change+10.5pp

10Y change+75.5pp

NCS Multistage Holdings, Inc.'s operating margin was -14.6% in Q2 2026, reflecting core business profitability. This is down 9.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 16.5 percentage points.

Net Margin

-12.0%

YoY-14.5pp

QoQ-11.2pp

5Y change+15.0pp

10Y change+64.1pp

NCS Multistage Holdings, Inc.'s net profit margin was -12.0% in Q2 2026, showing the share of revenue converted to profit. This is down 14.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.2 percentage points.

Return on Equity

-3.8%

YoY-4.7pp

QoQ-3.5pp

5Y change+2.8pp

NCS Multistage Holdings, Inc.'s ROE was -3.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.

Capital Allocation

Capital Expenditures

$493K

YoY+75.4%

QoQ-16.6%

5Y CAGR+20.8%

10Y CAGR+7.6%

NCS Multistage Holdings, Inc. invested $493K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 75.4% from the same quarter a year earlier. Against the prior quarter it is down 16.6%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

NCSM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NCSM quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
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
EBITDA	N/A	$16.4M+70.4%	$9.6M+1153.7%	-$915K-144.3%	$2.1M+433.8%	-$619K+99.1%	-$65.5M-7036.4%	$945K+100.5%	-$188.8M-679.0%	$32.6M+329.9%	$7.6M-64.7%	$21.5M
Interest Expense	$251K	$251K-39.4%	$414K-29.4%	$586K-42.3%	$1.0M+38.5%	$733K-59.2%	$1.8M-6.7%	$1.9M-1.9%	$2.0M-54.4%	$4.3M-31.5%	$6.3M-22.0%	$8.1M
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 (Basic)	N/A	$9.17+252.7%	$2.60+304.7%	-$1.27-182.2%	-$0.45+77.3%	-$1.98+91.9%	-$24.37-73.1%	-$14.08+83.4%	-$85.00-170100.0%	$0.05+109.4%	-$0.53-160.2%	$0.88
EPS (Diluted)	$4.95	$8.65+239.2%	$2.55+300.8%	-$1.27-182.2%	-$0.45+77.3%	-$1.98+91.9%	-$24.37	-$14.08+83.4%	-$85.00	$0.05+109.4%	-$0.53-161.6%	$0.86
Diluted Shares (Avg)	N/A	3M+6.0%	3M+4.7%	2M+1.7%	2M+1.5%	2M+1.4%	2M	2M+4.2%	2M	44M+28.2%	34M+4.9%	32M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$38.4M+5.2%	$45.6M-8.7%	$50.6M+12.5%	$46.5M+5.8%	$36.5M+22.8%	$50.0M+14.0%	$45.0M+27.7%	$44.0M+15.0%
Cost of Revenue	$24.4M+4.1%	$27.5M-2.4%	$29.5M+15.0%	$27.1M+6.5%	$23.5M+32.4%	$28.1M+7.1%	$25.6M+14.6%	$25.5M+12.9%
Gross Profit	$13.9M+7.3%	$18.2M-16.9%	$21.2M+9.1%	$19.4M+4.8%	$13.0M+8.6%	$21.9M+24.4%	$19.4M+50.4%	$18.5M+17.9%
SG&A Expenses	$18.0M+31.8%	$15.7M-2.9%	$14.2M-5.5%	$14.8M+4.8%	$13.6M-8.1%	$16.2M+17.1%	$15.0M+13.7%	$14.1M+11.6%
Operating Income	-$5.6M-176.0%	$848K-80.2%	$5.2M+77.7%	$3.1M+0.9%	-$2.0M+51.1%	$4.3M+71.5%	$2.9M+288.9%	$3.0M+62.1%
EBITDA	-$4.0M-574.6%	$2.4M-56.8%	$6.7M+56.6%	$4.6M+4.9%	-$595K+78.9%	$5.7M+51.3%	$4.3M+1272.4%	$4.4M+45.4%
Interest Expense	$84K+23.5%	$26K-38.1%	$42K-53.8%	$99K-8.3%	$68K-40.9%	$42K-58.0%	$91K-34.5%	$108K+300.0%
Income Tax	-$1.4M-32.5%	$834K+23.9%	-$8.3M-1271.1%	-$549K-1468.6%	-$1.0M-482.2%	$673K+38.2%	-$606K-1201.8%	-$35K+93.5%
Net Income	-$4.6M-598.5%	-$371K-109.1%	$15.0M+331.0%	$3.8M-8.2%	$924K+129.9%	$4.1M+95.9%	$3.5M-91.2%	$4.1M-5.9%
EPS (Basic)	-$1.71-575.0%	-$0.14-108.9%	$5.77+321.2%	$1.47-9.8%	$0.36+129.8%	$1.58+90.4%	$1.37-91.5%	$1.63-8.4%
EPS (Diluted)	-$1.71-602.9%	-$0.14-109.3%	$5.43+305.2%	$1.37-14.4%	$0.34+128.1%	$1.51+84.1%	$1.34-91.7%	$1.60-9.6%
Diluted Shares (Avg)	3M-1.7%	3M-2.1%	N/A	3M+7.3%	3M+7.3%	3M+5.8%	N/A	3M+4.0%

Not reported in any period shown, so not listed: R&D Expenses.

NCSM Balance Sheet

NCSM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
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
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
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
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
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
Non-Current Liabilities	$9.6M-15.1%	$11.3M+6.6%	$10.6M-9.1%	$11.6M-1.7%	$11.8M+14.9%	$10.3M-46.5%	$19.3M-30.9%	$27.8M-56.0%	$63.2M-52.0%	$131.8M	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

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$177.6M+12.4%	$174.6M+12.5%	$181.2M+18.6%	$162.0M+11.1%	$158.0M+13.4%	$155.1M+10.1%	$152.8M+0.5%	$145.8M+2.9%
Current Assets	$117.4M+5.8%	$117.0M+7.3%	$121.9M+15.5%	$111.3M+11.9%	$111.0M+20.8%	$109.0M+17.3%	$105.6M+2.3%	$99.5M+10.4%
Cash & Equivalents	$31.3M+23.4%	$34.5M+49.8%	$36.7M+41.9%	$25.3M+65.0%	$25.4M+36.3%	$23.0M+64.2%	$25.9M+54.8%	$15.3M+34.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$44.5M+2.4%	$40.8M+0.1%	$39.0M-4.8%	$44.1M+7.0%	$43.5M+4.7%	$40.8M+3.9%	$41.0M-1.5%	$41.2M-2.0%
Accounts Receivable	$33.1M-3.3%	$35.8M-6.8%	$40.5M+28.5%	$36.1M-1.6%	$34.2M+39.6%	$38.4M+13.2%	$31.5M+31.4%	$36.7M+21.2%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$16.4M+7.7%	$16.4M+7.7%	$16.4M+7.7%	$16.4M+7.7%	$15.2M0.0%	$15.2M0.0%	$15.2M0.0%	$15.2M0.0%
Total Liabilities	$36.8M+8.3%	$30.8M-10.2%	$38.1M+3.8%	$34.9M+10.0%	$34.0M+12.1%	$34.3M+16.4%	$36.7M-13.9%	$31.7M-56.5%
Current Liabilities	$27.5M+15.6%	$21.9M-8.3%	$28.5M+12.2%	$25.4M+14.7%	$23.8M+19.4%	$23.9M+24.3%	$25.4M-20.7%	$22.1M+11.5%
Non-Current Liabilities	$9.3M-8.8%	$8.9M-14.6%	$9.6M-15.1%	$9.5M-0.8%	$10.2M-1.9%	$10.4M+1.6%	$11.3M+6.6%	$9.6M-81.9%
Long-Term Debt	$5.2M-4.9%	$4.9M-8.6%	$5.3M-12.4%	$5.1M-21.7%	$5.5M-20.0%	$5.4M-16.7%	$6.0M-5.4%	$6.5M-0.3%
Total Equity	$120.2M+12.9%	$124.8M+21.0%	$126.2M+27.7%	$110.1M+14.7%	$106.4M+16.9%	$103.2M+10.1%	$98.8M+7.9%	$96.0M+89.7%
Retained Earnings	-$240.3M+5.4%	-$235.6M+7.6%	-$235.3M+9.2%	-$250.2M+4.7%	-$254.0M+4.7%	-$255.0M+3.3%	-$259.0M+2.5%	-$262.5M+14.0%

NCSM Cash Flow Statement

NCSM quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
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
Depreciation & Amortization	N/A	$5.9M+10.7%	$5.3M+15.2%	$4.6M+6.9%	$4.3M-4.0%	$4.5M-23.6%	$5.9M-43.6%	$10.4M-41.5%	$17.8M-35.5%	$27.7M+8.2%	$25.6M-6.2%	$27.3M
Stock-Based Compensation	N/A	$6.2M+19.0%	$5.2M-2.8%	$5.4M-11.2%	$6.0M-8.8%	$6.6M-21.9%	$8.5M-32.4%	$12.5M+14.7%	$10.9M+78.9%	$6.1M+351.1%	$1.4M+3.1%	$1.3M
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

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$1.9M-154.4%	$1.3M+177.8%	$13.1M+23.4%	$7.2M+455.4%	$3.5M-41.1%	-$1.6M+12.5%	$10.6M+71.1%	-$2.0M-399.3%
Depreciation & Amortization	$1.6M+10.7%	$1.6M+16.3%	$1.6M+11.1%	$1.6M+13.6%	$1.4M+7.6%	$1.4M+10.6%	$1.4M+16.1%	$1.4M+18.7%
Stock-Based Compensation	$1.3M-4.9%	$1.2M-15.1%	N/A	$2.2M+61.0%	$1.4M+20.0%	$1.4M+60.2%	N/A	$1.3M-21.1%
Capital Expenditures	$493K+75.4%	$591K+27.4%	$225K-0.4%	$231K-48.7%	$281K-15.9%	$464K+55.2%	$226K+27.0%	$450K-18.6%
Free Cash Flow	-$2.4M-174.4%	$689K+132.7%	$12.9M+23.9%	$6.9M+381.2%	$3.2M-42.6%	-$2.1M+3.2%	$10.4M+72.4%	-$2.5M-157.8%
Investing Cash Flow	-$449K-1852.2%	-$559K-23.9%	-$233K-119.2%	-$5.6M-1547.8%	-$23K+91.1%	-$451K-231.6%	$1.2M+812.4%	-$339K+36.6%
Financing Cash Flow	-$603K+58.4%	-$2.9M-271.8%	-$1.5M+5.1%	-$1.6M-53.9%	-$1.4M-39.6%	-$790K-25.4%	-$1.6M-65.5%	-$1.0M+16.3%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

NCSM Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NCSM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
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
Asset Turnover	1.01-0.1x	1.06+0.1x	0.94-0.2x	1.12+0.3x	0.83+0.1x	0.77-0.2x	1.010.0x	0.99+0.6x	0.43+0.1x	0.30	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%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	36.4%+0.7pp	39.8%-3.9pp	41.8%-1.3pp	41.7%-0.4pp	35.7%-4.7pp	43.7%+3.6pp	43.1%+6.5pp	42.1%+1.1pp
Operating Margin	-14.6%-9.0pp	1.9%-6.7pp	10.3%+3.8pp	6.6%-0.3pp	-5.6%+8.4pp	8.6%+2.9pp	6.5%+10.9pp	6.9%+2.0pp
Net Margin	-12.0%-14.5pp	-0.8%-8.9pp	29.5%+21.8pp	8.2%-1.2pp	2.5%+13.0pp	8.1%+3.4pp	7.7%	9.4%-2.1pp
Return on Equity	-3.8%-4.7pp	-0.3%-4.2pp	11.8%+8.3pp	3.5%-0.9pp	0.9%+4.3pp	3.9%+1.7pp	3.5%-39.8pp	4.3%-4.4pp
Return on Assets	-2.6%-3.2pp	-0.2%-2.8pp	8.3%+6.0pp	2.4%-0.5pp	0.6%+2.8pp	2.6%+1.1pp	2.3%-23.8pp	2.8%-0.3pp
Current Ratio	4.27-0.4x	5.35+0.8x	4.27+0.1x	4.39-0.1x	4.66+0.1x	4.57-0.3x	4.15+0.9x	4.500.0x
Debt-to-Equity	0.040.0x	0.040.0x	0.040.0x	0.050.0x	0.050.0x	0.050.0x	0.060.0x	0.07-0.1x
Asset Turnover	0.220.0x	0.26-0.1x	0.280.0x	0.290.0x	0.230.0x	0.320.0x	0.29+0.1x	0.300.0x
FCF Margin	-6.3%-15.2pp	1.5%+5.7pp	25.5%+2.3pp	14.9%+20.5pp	8.9%-10.1pp	-4.2%+0.8pp	23.2%+6.0pp	-5.6%-3.1pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
NCS Multistage Holdings, Inc. NCSM	FY2025	$183.6M	$23.7M	12.9%	$140.0M	61/100
Leishen Energy Holding Co., Ltd. LSE	FY2025	$48.3M	$1.3M	2.6%	$76.6M	47/100
Drilling Tools International Corporation DTI	FY2025	$159.6M	-$3.8M	-2.4%	$83.3M	60/100
Recon Technology, Ltd. RCON	FY2026	$16.2M	-$4.4M	-27.0%	$24.4M	51/100
Geospace Technologies Corporation GEOS	FY2025	$110.8M	-$9.7M	-8.8%	$60.7M	42/100
Smart Sand, Inc. SND	FY2025	$330.2M	$1.3M	0.4%	$221.3M	50/100

Where NCS Multistage Holdings, Inc. Ranks

Frequently Asked Questions

What is NCS Multistage Holdings, Inc.'s annual revenue?

NCS Multistage Holdings, 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 Holdings, Inc.'s revenue growing?

NCS Multistage Holdings, Inc. (NCSM) revenue grew by 13.0% year-over-year, from $162.6M to $183.6M in fiscal year 2025.

Is NCS Multistage Holdings, Inc. profitable?

Yes, NCS Multistage Holdings, 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 Holdings, Inc.'s EBITDA?

NCS Multistage Holdings, 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 Holdings, Inc. have?

As of fiscal year 2025, NCS Multistage Holdings, Inc. (NCSM) had $36.7M in cash and equivalents against $5.3M in long-term debt.

What is NCS Multistage Holdings, Inc.'s gross margin?

NCS Multistage Holdings, 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 Holdings, Inc.'s operating margin?

NCS Multistage Holdings, 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 Holdings, Inc.'s net profit margin?

NCS Multistage Holdings, 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 Holdings, Inc.'s return on equity (ROE)?

NCS Multistage Holdings, 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 Holdings, Inc.'s free cash flow?

NCS Multistage Holdings, 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 Holdings, Inc.'s operating cash flow?

NCS Multistage Holdings, Inc. (NCSM) generated $22.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are NCS Multistage Holdings, Inc.'s total assets?

NCS Multistage Holdings, Inc. (NCSM) had $181.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are NCS Multistage Holdings, Inc.'s capital expenditures?

NCS Multistage Holdings, Inc. (NCSM) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does NCS Multistage Holdings, Inc. spend on research and development?

NCS Multistage Holdings, Inc. (NCSM) invested $2.0M in research and development during fiscal year 2025.

How many shares does NCS Multistage Holdings, Inc. have outstanding?

NCS Multistage Holdings, Inc. (NCSM) had 3M shares outstanding as of fiscal year 2025.

What is NCS Multistage Holdings, Inc.'s current ratio?

NCS Multistage Holdings, Inc. (NCSM) had a current ratio of 4.27 as of fiscal year 2025, which is generally considered healthy.

What is NCS Multistage Holdings, Inc.'s debt-to-equity ratio?

NCS Multistage Holdings, 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 Holdings, Inc.'s return on assets (ROA)?

NCS Multistage Holdings, 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 Holdings, Inc.'s Altman Z-Score?

NCS Multistage Holdings, Inc. (NCSM) has an Altman Z-Score of 2.21, 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 Holdings, Inc.'s Piotroski F-Score?

NCS Multistage Holdings, 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 Holdings, Inc.'s earnings high quality?

NCS Multistage Holdings, 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.

Can NCS Multistage Holdings, Inc. cover its interest payments?

NCS Multistage Holdings, Inc. (NCSM) has an interest coverage ratio of 41.99x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is NCS Multistage Holdings, Inc.?

NCS Multistage Holdings, Inc. (NCSM) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.