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NCS Multistage Holdings, Inc.

NCSM Clue Score63
United States Fiscal year ends December CIK 0001692427
$53.35 +0.00% Close, 1 Sep 2026
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Price $53.35 +130.07% Close, 1 Sep 2026

Closing prices at the end of each trading day, from 28 Apr 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 2016Revenue98.5Operating income−18.0Net income−17.9EPS, diluted−0.53Fiscal year 2017Revenue201.6 +104.7%Operating income5.0Net income2.1EPS, diluted0.05Fiscal year 2018Revenue227.0 +12.6%Operating income−206.7Net income−190.3 −9,154.1%EPS, diluted−85.00Fiscal year 2019Revenue205.5 −9.5%Operating income−9.5Net income−32.8EPS, diluted−14.08Fiscal year 2020Revenue107.0 −47.9%Operating income−71.4Net income−57.6EPS, diluted−24.37Fiscal year 2021Revenue118.5 +10.8%Operating income−5.1Net income−4.7EPS, diluted−1.98Fiscal year 2022Revenue155.6 +31.3%Operating income−2.3Net income−1.1EPS, diluted−0.45Fiscal year 2023Revenue142.5 −8.5%Operating income−5.5Net income−3.2EPS, diluted−1.27Fiscal year 2024Revenue162.6 +14.1%Operating income4.3Net income6.6EPS, diluted2.55Fiscal year 2025Revenue183.6 +13.0%Operating income10.5Net income23.7 +260.2%EPS, diluted8.65
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 98.5 201.6 227.0 205.5 107.0 118.5 155.6 142.5 162.6 183.6
Growth +104.7% +12.6% −9.5% −47.9% +10.8% +31.3% −8.5% +14.1% +13.0%
Operating income −18.0 5.0 −206.7 −9.5 −71.4 −5.1 −2.3 −5.5 4.3 10.5
Net income −17.9 2.1 −190.3 −32.8 −57.6 −4.7 −1.1 −3.2 6.6 23.7
Growth −9,154.1% +260.2%
EPS, diluted −0.53 0.05 −85.00 −14.08 −24.37 −1.98 −0.45 −1.27 2.55 8.65

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−18.3%Net margin−18.2%Free cash flow margin9.7%Fiscal year 2017Operating margin2.5%Net margin1.0%Free cash flow margin5.3%Fiscal year 2018Operating margin−91.1%Net margin−83.9%Free cash flow margin1.3%Fiscal year 2019Operating margin−4.6%Net margin−16.0%Free cash flow margin5.8%Fiscal year 2020Operating margin−66.8%Net margin−53.8%Free cash flow margin30.9%Fiscal year 2021Operating margin−4.3%Net margin−4.0%Free cash flow margin9.4%Fiscal year 2022Operating margin−1.4%Net margin−0.7%Free cash flow margin−1.6%Fiscal year 2023Operating margin−3.9%Net margin−2.2%Free cash flow margin2.0%Fiscal year 2024Operating margin2.7%Net margin4.1%Free cash flow margin7.0%Fiscal year 2025Operating margin5.7%Net margin12.9%Free cash flow margin11.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −18.3% 2.5% −91.1% −4.6% −66.8% −4.3% −1.4% −3.9% 2.7% 5.7%
Net margin −18.2% 1.0% −83.9% −16.0% −53.8% −4.0% −0.7% −2.2% 4.1% 12.9%
Free cash flow margin 9.7% 5.3% 1.3% 5.8% 30.9% 9.4% −1.6% 2.0% 7.0% 11.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow10.7Capital expenditure−1.2Free cash flow9.5Buybacks−0.2Fiscal year 2017Operating cash flow16.1Capital expenditure−5.4Free cash flow10.7 +12.8%Fiscal year 2018Operating cash flow14.0Capital expenditure−11.1Free cash flow2.9 −73.1%Fiscal year 2019Operating cash flow17.9Capital expenditure−6.1Free cash flow11.8 +308.9%Fiscal year 2020Operating cash flow35.1Capital expenditure−2.1Free cash flow33.0 +179.2%Fiscal year 2021Operating cash flow11.6Capital expenditure−0.5Free cash flow11.1 −66.4%Fiscal year 2022Operating cash flow−1.4Capital expenditure−1.0Free cash flow−2.5 −122.2%Fiscal year 2023Operating cash flow4.8Capital expenditure−1.9Free cash flow2.9Fiscal year 2024Operating cash flow12.7Capital expenditure−1.3Free cash flow11.4 +294.7%Fiscal year 2025Operating cash flow22.2Capital expenditure−1.2Free cash flow21.0 +83.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 10.7 16.1 14.0 17.9 35.1 11.6 −1.4 4.8 12.7 22.2
Capital expenditure −1.2 −5.4 −11.1 −6.1 −2.1 −0.5 −1.0 −1.9 −1.3 −1.2
Free cash flow 9.5 10.7 2.9 11.8 33.0 11.1 −2.5 2.9 11.4 21.0
Growth +12.8% −73.1% +308.9% +179.2% −66.4% −122.2% +294.7% +83.7%
Buybacks −0.2 n/a n/a n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash18.3Total debt89.2Net cash (debt)−70.9Shareholders’ equity177.5Debt to equity0.50Fiscal year 2017Cash33.8Total debt27.0Net cash (debt)6.8Shareholders’ equity356.8Debt to equity0.08Fiscal year 2018Cash25.1Total debt25.7Net cash (debt)−0.6Shareholders’ equity161.3Debt to equity0.16Fiscal year 2019Cash11.2Total debt12.9Net cash (debt)−1.7Shareholders’ equity144.6Debt to equity0.09Fiscal year 2020Cash15.5Total debt5.8Net cash (debt)9.8Shareholders’ equity93.6Debt to equity0.06Fiscal year 2021Cash22.2Total debt7.8Net cash (debt)14.4Shareholders’ equity92.6Debt to equity0.08Fiscal year 2022Cash16.2Shareholders’ equity91.0Fiscal year 2023Cash16.7Shareholders’ equity91.6Fiscal year 2024Cash25.9Shareholders’ equity98.8Fiscal year 2025Cash36.7Shareholders’ equity126.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 18.3 33.8 25.1 11.2 15.5 22.2 16.2 16.7 25.9 36.7
Total debt 89.2 27.0 25.7 12.9 5.8 7.8 n/a n/a n/a n/a
Net cash (debt) −70.9 6.8 −0.6 −1.7 9.8 14.4 n/a n/a n/a n/a
Shareholders’ equity 177.5 356.8 161.3 144.6 93.6 92.6 91.0 91.6 98.8 126.2
Debt to equity 0.50 0.08 0.16 0.09 0.06 0.08 n/a n/a n/a n/a

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

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018† 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
98.5 201.6 227.0 205.5 107.0 118.5 155.6 142.5 162.6 183.6
Growth +104.7% +12.6% −9.5% −47.9% +10.8% +31.3% −8.5% +14.1% +13.0%
53.8 98.8 108.3 108.0 62.9 70.0 95.2 86.9 n/a n/a
3.3 3.0 3.8 2.8 1.9 2.1 2.7 2.5 2.0 2.0
37.1 64.7 82.8 88.6 59.4 49.1 58.3 56.5 57.8 58.8
−18.0 5.0 −206.7 −9.5 −71.4 −5.1 −2.3 −5.5 4.3 10.5
Growth −4,267.5% +143.7%
−26.7 2.0 −208.3 −12.1 −46.9 −3.5 −0.6 −3.3 8.3 16.8
−8.8 0.7 −23.1 10.8 −7.8 0.3 0.4 −0.2 0.1 −9.2
−17.9 2.1 −190.3 −32.8 −57.6 −4.7 −1.1 −3.2 6.6 23.7
Growth −9,154.1% +260.2%
Per share
−0.53 0.05 −85.00 −14.08 −24.37 −1.98 −0.45 −1.27 2.60 9.17
−0.53 0.05 −85.00 −14.08 −24.37 −1.98 −0.45 −1.27 2.55 8.65
Growth −170,100.0% +239.2%
34.0 40.5 2.2 2.3 2.4 2.4 2.4 2.5 2.5 2.6
34.0 43.6 2.2 2.3 2.4 2.4 2.4 2.5 2.6 2.7
Growth +28.2% −94.9% +4.2% +1.4% +1.4% +1.5% +1.7% +4.7% +6.0%

† The diluted share count jumps at 2018, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 11.4% a year over five years.
  • Operating margin is up 72.5 points on five years ago, at 5.7%.
  • A net loss in 7 of 10 years on file.