Ncs Multistage Holdings (NCSM) AI Stock Analysis

• Market Cap: $91.63M
• Dividend Yield: N/A
• Average Volume (3M): 13.35K
• Price to Earnings (P/E): 7.9
• Beta (1Y): 0.52
• Revenue Growth: 16.61%
• EPS Growth: -72.29%
• Country: US
• Employees: 252
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 1.53
• Shares Outstanding: 2,540,920
• 10 Day Avg. Volume: 11,479
• 30 Day Avg. Volume: 13,352
• PEG Ratio: -0.03
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 0.41
• P/FCF Ratio: 5.77
• Enterprise Value/Market Cap: 1.60
• Enterprise Value/Revenue: 0.82
• Enterprise Value/Gross Profit: 2.16
• Enterprise Value/Ebitda: 7.87
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 3.86
• Revenue Forecast (FY): $178.10M

• Rating: 71 Outperform
• Price Target: $40.00 ▲(6.84% Upside)

Ncs Multistage Holdings exhibits strong financial performance and attractive valuation, contributing positively to the score. However, technical indicators suggest bearish momentum, and challenges highlighted in the earnings call, such as Canadian market declines and potential oversupply, temper the overall outlook.

Positive Factors

Revenue Growth

Strong U.S. revenue growth indicates robust market demand and effective sales strategies, supporting long-term business expansion.

Successful Integration

Successful integration of acquisitions like ResMetrix enhances operational efficiency and broadens service offerings, strengthening competitive positioning.

Cash Flow Improvement

Improved cash flow reflects strong cash generation capabilities, providing financial flexibility for future investments and growth opportunities.

Negative Factors

Decline in Canadian Revenue

A decline in Canadian revenue highlights regional market challenges, potentially impacting overall growth and profitability if not addressed.

Market Challenges

Stagnant rig counts and project delays may hinder revenue growth, necessitating strategic adjustments to mitigate long-term impacts.

Potential Oil Market Oversupply

Potential oversupply in the oil market could pressure prices, affecting demand for completion services and impacting revenue stability.

Ncs Multistage Holdings Business Overview & Revenue Model

Company Description

Ncs Multistage Holdings (NCSM) is a diversified company operating primarily in the manufacturing and distribution sectors. The firm specializes in providing innovative solutions across various industries, including construction, engineering, and renewable energy. NCSM offers a range of core products and services, including multi-stage pumps and advanced fluid handling systems, tailored to meet the needs of its clients in both domestic and international markets.

How the Company Makes Money

NCSM generates revenue through multiple streams, primarily by selling its advanced manufacturing products and solutions to various industries. The company earns money from direct sales of its core products, such as multi-stage pumps and fluid handling systems, which are essential in sectors like oil and gas, construction, and water management. Additionally, NCSM provides maintenance and support services for its products, creating a recurring revenue stream. Strategic partnerships with key players in the construction and energy sectors further enhance its market reach and profitability, enabling the company to capitalize on large-scale projects and contracts. The firm may also benefit from government contracts and initiatives focused on infrastructure development, which can significantly contribute to its earnings.

Ncs Multistage Holdings Financial Statement Overview

Summary

Ncs Multistage Holdings shows strong financial performance with significant revenue growth, improved profitability, and robust cash flow generation. However, historical volatility in these metrics suggests potential risks.

Income Statement

Ncs Multistage Holdings has shown a strong recovery in its income statement metrics. The company achieved a significant revenue growth rate of 44.3% in the TTM period, indicating robust sales performance. Gross profit margin improved to 39.1%, reflecting efficient cost management. Net profit margin increased to 7.2%, showcasing enhanced profitability. EBIT and EBITDA margins also improved, indicating better operational efficiency. However, historical volatility in revenue growth and margins suggests potential risks.

Balance Sheet

The balance sheet of Ncs Multistage Holdings is stable with a low debt-to-equity ratio of 0.08 in the TTM period, indicating conservative leverage. Return on equity improved to 12.5%, reflecting better utilization of equity. The equity ratio remains healthy, suggesting a solid financial foundation. However, fluctuations in ROE over the years highlight potential risks in maintaining consistent returns.

Cash Flow

Cash flow metrics are strong, with a remarkable free cash flow growth rate of 103.9% in the TTM period, indicating excellent cash generation capabilities. The operating cash flow to net income ratio is 0.44, and the free cash flow to net income ratio is 0.86, both reflecting efficient cash conversion. Historical improvements in cash flow metrics demonstrate effective cash management, though past volatility should be monitored.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	178.00M	162.56M	142.47M	155.63M	118.50M	106.98M
Gross Profit	67.93M	62.15M	50.99M	56.09M	43.97M	38.18M
EBITDA	18.63M	13.98M	1.86M	4.73M	1.72M	-39.20M
Net Income	12.26M	6.59M	-3.15M	-1.10M	-4.73M	-57.60M
Balance Sheet
Total Assets	162.02M	152.81M	152.03M	138.60M	142.32M	138.68M
Cash, Cash Equivalents and Short-Term Investments	25.30M	25.88M	16.72M	16.23M	22.17M	15.54M
Total Debt	8.03M	14.63M	13.51M	12.88M	13.15M	11.60M
Total Liabilities	34.91M	36.70M	42.64M	29.34M	31.66M	25.19M
Stockholders Equity	110.14M	98.84M	91.62M	91.03M	92.58M	93.61M
Cash Flow
Free Cash Flow	18.42M	11.42M	2.58M	-2.55M	10.75M	32.96M
Operating Cash Flow	19.69M	12.72M	4.77M	-1.42M	11.58M	35.12M
Investing Cash Flow	-4.85M	479.00K	-1.68M	-698.00K	-444.00K	-1.06M
Financing Cash Flow	-5.38M	-4.27M	-2.44M	-2.74M	-4.26M	-29.77M

Ncs Multistage Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 37.44
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NCSM, the sentiment is Negative. The current price of 37.44 is above the 20-day moving average (MA) of 37.42, below the 50-day MA of 41.42, and above the 200-day MA of 34.63, indicating a neutral trend. The MACD of -1.21 indicates Negative momentum. The RSI at 42.72 is Neutral, neither overbought nor oversold. The STOCH value of 63.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NCSM.

Ncs Multistage Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NCSM	71 Outperform	$91.63M	7.94	11.89%	―	16.61%	-72.29%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SND	60 Neutral	$128.45M	30.16	1.61%	―	18.98%	―
DTI	54 Neutral	$84.48M	―	-5.18%	―	7.46%	-165.76%
BOOM	47 Neutral	$158.06M	-0.89	-3.68%	―	-6.90%	94.14%
DWSN	44 Neutral	$61.47M	―	-19.81%	―	-22.31%	39.11%
KLXE	44 Neutral	$31.22M	-0.43	―	―	-12.57%	-45.75%

Ncs Multistage Holdings Corporate Events

NCS Multistage Holdings’ Earnings Call: Mixed Sentiments and Future Prospects

NCS Multistage Holdings’ recent earnings call painted a mixed picture, reflecting both significant achievements and notable challenges. On the positive side, the company reported substantial revenue growth in the U.S. and a successful integration of ResMetrix. However, concerns were raised regarding the Canadian market and potential oversupply issues in the oil market, which could impact future performance.

NCS Multistage Reports Strong Q3 2025 Results

NCS Multistage Holdings, Inc. is a prominent provider of engineered products and services aimed at optimizing oil and natural gas well construction and completions, primarily serving exploration and production companies in North America and select international markets. In its third quarter of 2025, NCS Multistage Holdings reported a revenue increase of 6% year-over-year, reaching $46.5 million. Despite a slight decline in net income to $3.8 million from $4.1 million the previous year, the company maintained a strong financial position with $25.3 million in cash and minimal debt. Key financial highlights include a stable adjusted EBITDA of $7.0 million and a notable improvement in cash flow from operations, which increased by $7 million over the first nine months of 2025 compared to 2024. The acquisition of Reservoir Metrics, LLC contributed positively to revenue and operational integration is ahead of schedule, positioning NCS as a potential leader in reservoir analysis. Looking forward, NCS Multistage Holdings aims to sustain its momentum through the end of the year, despite facing challenges such as reduced drilling activity in Canada and potential market oversupply concerns. The company remains committed to its strategic initiatives, leveraging its strong operational teams to drive innovation and shareholder value.