# Netcapital Inc. (NCPL)

> Source: Nexqual · https://nexqual.com/NCPL · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Netcapital Inc. (NCPL), nexqual.com/NCPL" · informational, not investment advice.

**Price:** USD 1.98 (+24.53% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 1.59 · day 1.85–2.39 · 52w 0.21–2.66 · market cap $15.5M · NCM

## Key facts
- Last four reported quarters (through Jan 31, 2026): revenue $740K, net income -$28.1M (-3804.1% margin) (SEC filings).
- Total return with dividends: 1Y -11.6% vs S&P 500 +18.1%; 5Y -99.8% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.7M | $5.5M | $8.5M | $5.0M | $869K | $740K |
| Gross profit | $4.0M | $5.4M | $8.4M | $4.8M | $829K | — |
| Operating income | -$402K | -$1.0M | $2.3M | -$3.4M | -$8.3M | -$9.5M |
| Net income | $1.5M | $3.5M | $3.0M | -$5.0M | -$28.3M | -$28.1M |
| EPS (diluted) | $62.30 | $88.90 | $44.10 | -$28.83 | -$20.39 | — |
| Gross margin | 83.9% | 98.0% | 99.0% | 97.8% | 95.4% | — |
| Operating margin | -8.5% | -18.8% | 26.7% | -69.5% | -957.1% | -1285.0% |
| Net margin | 31.1% | 63.9% | 34.8% | -100.7% | -3255.0% | -3804.1% |
| Revenue growth | +169.2% | +16.1% | +55.0% | -41.7% | -82.4% | — |
| Cash + short-term investments | $2.5M | $474K | $569K | $863K | $289K | — |
| Total debt | $5.3M | $2.8M | $2.8M | $2.4M | $2.7M | — |
Fiscal years end Apr. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jan 31, 2026)
P/S 21.0x · P/B 0.7x · Earnings yield -181.04%
P/E at fiscal year-ends: Apr 2023 2.2x.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -11.6% | -99.8% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -11.6% | -71.4% |
| Volatility (annualized) | 220.3% | 141.9% |
| Max drawdown | -90.8% (Oct 2025→Aug 2026) | -100.0% (Oct 2021→Aug 2026) |

## Peers (Capital Markets)
LAZ (Lazard, Inc.) USD 36.16 -0.99% · MC (Moelis & Company) USD 55.32 -1.90% · PIPR (Piper Sandler Companies) USD 64.57 +1.10% · VIRT (Virtu Financial, Inc.) USD 57.41 +2.63% · BGC (BGC Group, Inc.) USD 11.6 -0.34% · MKTX (MarketAxess Holdings, Inc.) USD 164.54 +0.05%

## More
Full page: https://nexqual.com/NCPL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt