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Netcapital Inc.

NCPL Clue Score27
United States Fiscal year ends April CIK 0001414767
$1.14 -12.98% Close, 9 Oct 2026
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Price $1.14 −90.69% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 22 Sep 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue0.0Operating income−0.5Net income−0.8EPS, diluted0.00Fiscal year 2018Revenue0.1 +416.9%Operating income−0.2Net income0.1EPS, diluted0.00Fiscal year 2019Revenue1.0 +811.8%Operating income0.6Net income0.6 +344.5%EPS, diluted0.00Fiscal year 2020Revenue1.8 +73.0%Operating income1.1Net income0.6 +3.8%EPS, diluted1.50Fiscal year 2021Revenue4.7 +169.2%Operating income−0.4Net income1.5 +143.0%EPS, diluted0.89Fiscal year 2022Revenue5.5 +16.1%Operating income−1.0Net income3.5 +138.4%EPS, diluted1.27Fiscal year 2023Revenue8.5 +55.0%Operating income2.3Net income3.0 −15.7%EPS, diluted0.63Fiscal year 2024Revenue5.0 −41.7%Operating income−3.4Net income−5.0 −268.7%EPS, diluted−28.83Fiscal year 2025Revenue0.9 −82.4%Operating income−8.3Net income−28.3EPS, diluted−20.39
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.0 0.1 1.0 1.8 4.7 5.5 8.5 5.0 0.9
Growth +416.9% +811.8% +73.0% +169.2% +16.1% +55.0% −41.7% −82.4%
Operating income −0.5 −0.2 0.6 1.1 −0.4 −1.0 2.3 −3.4 −8.3
Net income −0.8 0.1 0.6 0.6 1.5 3.5 3.0 −5.0 −28.3
Growth +344.5% +3.8% +143.0% +138.4% −15.7% −268.7%
EPS, diluted 0.00 0.00 0.00 1.50 0.89 1.27 0.63 −28.83 −20.39

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin100.0%Operating margin−2,552.7%Net margin−3,850.3%Fiscal year 2018Gross margin78.5%Operating margin−172.8%Net margin118.0%Fiscal year 2019Gross margin97.5%Operating margin61.6%Net margin57.5%Fiscal year 2020Gross margin99.4%Operating margin65.4%Net margin34.5%Fiscal year 2021Gross margin83.9%Operating margin−8.5%Net margin31.1%Fiscal year 2022Gross margin98.0%Operating margin−18.8%Net margin63.9%Fiscal year 2023Gross margin99.0%Operating margin26.7%Net margin34.8%Fiscal year 2024Gross margin97.8%Operating margin−69.5%Net margin−100.7%Fiscal year 2025Gross margin95.4%Operating margin−957.1%Net margin−3,255.0%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 100.0% 78.5% 97.5% 99.4% 83.9% 98.0% 99.0% 97.8% 95.4%
Operating margin −2,552.7% −172.8% 61.6% 65.4% −8.5% −18.8% 26.7% −69.5% −957.1%
Net margin −3,850.3% 118.0% 57.5% 34.5% 31.1% 63.9% 34.8% −100.7% −3,255.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2017Operating cash flow−0.0Fiscal year 2018Operating cash flow−0.1Fiscal year 2019Operating cash flow0.0Fiscal year 2020Operating cash flow−0.0Fiscal year 2021Operating cash flow−3.3Fiscal year 2022Operating cash flow−3.0Fiscal year 2023Operating cash flow−4.6Fiscal year 2024Operating cash flow−4.9Fiscal year 2025Operating cash flow−5.3
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.0 −0.1 0.0 −0.0 −3.3 −3.0 −4.6 −4.9 −5.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.0Total debt0.5Net cash (debt)−0.5Shareholders’ equity−2.6Fiscal year 2018Cash0.0Shareholders’ equity−1.5Fiscal year 2019Cash0.0Shareholders’ equity−0.9Fiscal year 2020Cash0.0Shareholders’ equity0.7Fiscal year 2021Cash2.5Total debt5.3Net cash (debt)−2.9Shareholders’ equity14.2Debt to equity0.38Fiscal year 2022Cash0.5Total debt4.1Net cash (debt)−3.7Shareholders’ equity25.2Debt to equity0.16Fiscal year 2023Cash0.6Total debt2.8Net cash (debt)−2.2Shareholders’ equity36.2Debt to equity0.08Fiscal year 2024Cash0.9Total debt2.4Net cash (debt)−1.6Shareholders’ equity37.9Debt to equity0.06Fiscal year 2025Cash0.3Total debt2.7Net cash (debt)−2.4Shareholders’ equity14.9Debt to equity0.18
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.0 0.0 0.0 0.0 2.5 0.5 0.6 0.9 0.3
Total debt 0.5 n/a n/a n/a 5.3 4.1 2.8 2.4 2.7
Net cash (debt) −0.5 n/a n/a n/a −2.9 −3.7 −2.2 −1.6 −2.4
Shareholders’ equity −2.6 −1.5 −0.9 0.7 14.2 25.2 36.2 37.9 14.9
Debt to equity n/a n/a n/a n/a 0.38 0.16 0.08 0.06 0.18

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending April, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Apr 2017 FY2018 30 Apr 2018 FY2019 30 Apr 2019 FY2020 30 Apr 2020 FY2021 30 Apr 2021 FY2022 30 Apr 2022 FY2023 30 Apr 2023 FY2024 30 Apr 2024 FY2025 30 Apr 2025
Margins
100.0% 78.5% 97.5% 99.4% 83.9% 98.0% 99.0% 97.8% 95.4%
−2,552.7% −172.8% 61.6% 65.4% −8.5% −18.8% 26.7% −69.5% −957.1%
n/a n/a n/a n/a n/a n/a n/a −147.9% −3,255.0%
−3,850.3% 118.0% 57.5% 34.5% 31.1% 63.9% 34.8% −100.7% −3,255.0%
Spending
117.1% 60.0% 5.3% 4.1% 9.8% 29.2% 20.5% 69.2% 599.9%
Returns
n/a n/a n/a 89.1% 10.4% 13.9% 8.2% −13.1% −189.9%
−4,193.4% 133.3% 81.0% 27.3% 5.7% 11.0% 7.1% −12.0% −135.4%
Balance and payout
n/a n/a n/a n/a 0.38 0.16 0.08 0.06 0.18
13,218.8% 1,608.0% 220.3% 69.3% 44.9% 20.6% 13.5% 8.7% 28.7%