📊 NCSM Key Takeaways
Is NCS Multistage Holdings, Inc. (NCSM) a Good Investment?
NCS Multistage maintains an exceptionally strong balance sheet with fortress-like liquidity (4.27x current ratio) and minimal leverage (0.04x debt-to-equity), supporting robust free cash flow generation of $21.0M. However, net income declined 8.8% year-over-year despite 13.0% revenue growth, indicating operational headwinds and margin compression that signal structural challenges in a commoditized oil and gas services market.
NCSM shows solid fundamentals with net cash, strong liquidity, and robust free cash flow despite a cyclical end market. Revenue is growing and core operations are profitable, but thin gross margins and a net income level boosted by non-operating items temper the quality of earnings. Upside hinges on sustaining cash generation and improving core margins.
Why Buy NCS Multistage Holdings, Inc. Stock? NCSM Key Strengths
- Fortress balance sheet with minimal leverage and $36.7M cash reserves
- Excellent liquidity position (4.27x current ratio, 2.91x quick ratio)
- Strong free cash flow generation of $21.0M with 11.4% FCF margin exceeding net income quality
- Low capital intensity with only $1.2M CapEx enabling high cash conversion
- Net-cash balance sheet with very low leverage and ample liquidity (current ratio 4.27x, D/E 0.04x)
- Strong cash generation and low capex needs (FCF margin 11.4%)
- Attractive ROE/ROA and positive operating margin despite sector cyclicality
NCSM Stock Risks: NCS Multistage Holdings, Inc. Investment Risks
- Profitability deterioration: net income declined 8.8% while revenue grew 13.0%, indicating severe margin compression
- Critically low gross margin of 6.1% suggests commoditized business with intense competitive pressure
- Cyclical oil and gas exposure creates earnings volatility and downturn vulnerability despite strong balance sheet
- Operating margin of 5.7% provides minimal buffer for adverse cost movements or demand shocks
- Thin gross margin (6.1%) increases sensitivity to cost inflation and pricing pressure
- Net income above operating income suggests reliance on non-operating items; YoY net income decline
- Cyclical oilfield activity and potential customer concentration could pressure volumes
Key Metrics to Watch
- Gross margin trend and operating margin sustainability
- Revenue growth sustainability and pricing power
- Free cash flow conversion quality relative to net income
- Working capital efficiency as demand cycles shift
- Gross margin trend
- Operating cash flow and FCF conversion
NCS Multistage Holdings, Inc. (NCSM) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 4.27x current ratio provides a solid financial cushion.
NCSM Profit Margin, ROE & Profitability Analysis
NCSM vs Energy Sector: How NCS Multistage Holdings, Inc. Compares
How NCS Multistage Holdings, Inc. compares to Energy sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is NCS Multistage Holdings, Inc. Stock Overvalued? NCSM Valuation Analysis 2026
Based on fundamental analysis, NCS Multistage Holdings, Inc. has mixed fundamental signals relative to the Energy sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
NCS Multistage Holdings, Inc. Balance Sheet: NCSM Debt, Cash & Liquidity
NCSM Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: NCS Multistage Holdings, Inc.'s revenue has grown significantly by 13% over the 5-year period, indicating strong business expansion. The most recent EPS of $2.55 reflects profitable operations.
NCSM Revenue Growth, EPS Growth & YoY Performance
NCSM Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $44.0M | $3.1M | $1.21 |
| Q2 2025 | $29.7M | $924.0K | $0.34 |
| Q1 2025 | $43.9M | $2.1M | $0.82 |
| Q3 2024 | $38.3M | $3.1M | $1.21 |
| Q2 2024 | $25.4M | -$1.0M | $-0.41 |
| Q1 2024 | $43.6M | $2.1M | $0.82 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
NCS Multistage Holdings, Inc. Dividends, Buybacks & Capital Allocation
NCSM SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for NCS Multistage Holdings, Inc. (CIK: 0001692427)
📋 Recent SEC Filings
❓ Frequently Asked Questions about NCSM
What is the AI rating for NCSM?
NCS Multistage Holdings, Inc. (NCSM) has a Combined AI Rating of BUY from Claude (HOLD) and ChatGPT (BUY) with 70% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are NCSM's key strengths?
Claude: Fortress balance sheet with minimal leverage and $36.7M cash reserves. Excellent liquidity position (4.27x current ratio, 2.91x quick ratio). ChatGPT: Net-cash balance sheet with very low leverage and ample liquidity (current ratio 4.27x, D/E 0.04x). Strong cash generation and low capex needs (FCF margin 11.4%).
What are the risks of investing in NCSM?
Claude: Profitability deterioration: net income declined 8.8% while revenue grew 13.0%, indicating severe margin compression. Critically low gross margin of 6.1% suggests commoditized business with intense competitive pressure. ChatGPT: Thin gross margin (6.1%) increases sensitivity to cost inflation and pricing pressure. Net income above operating income suggests reliance on non-operating items; YoY net income decline.
What is NCSM's revenue and growth?
NCS Multistage Holdings, Inc. reported revenue of $183.6M.
Does NCSM pay dividends?
NCS Multistage Holdings, Inc. does not currently pay dividends.
Where can I find NCSM SEC filings?
Official SEC filings for NCS Multistage Holdings, Inc. (CIK: 0001692427) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is NCSM's EPS?
NCS Multistage Holdings, Inc. has a diluted EPS of $8.65.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is NCSM a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, NCS Multistage Holdings, Inc. has a BUY rating with 70% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is NCSM stock overvalued or undervalued?
Valuation metrics for NCSM: ROE of 18.8% (sector avg: 14%), net margin of 12.9% (sector avg: 12%). Higher ROE suggests strong returns relative to peers.
Should I buy NCSM stock in 2026?
Our dual AI analysis gives NCS Multistage Holdings, Inc. a combined BUY rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is NCSM's free cash flow?
NCS Multistage Holdings, Inc.'s operating cash flow is $22.2M, with capital expenditures of $1.2M. FCF margin is 11.4%.
How does NCSM compare to other Energy stocks?
Vs Energy sector averages: Net margin 12.9% (avg: 12%), ROE 18.8% (avg: 14%), current ratio 4.27 (avg: 1.3).