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Apr 29, 2026·SEC
Material company update
Mar 4, 2026·SEC
Material company update
Oct 29, 2025·SEC
NCS Multistage Holdings, Inc.(NCSM)Earnings, Financials & Key Ratios
NCSM•NASDAQ
$45.01
5.2× P/E·Price updated Jul 7, 2026
AboutNCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States, Canada, and internationally. It offers fracturing systems, which include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, accelus sliding sleeves, injection control devices, repeat precision products, chemical and radioactive tracer diagnostics, and well construction products. The company also provides tracer diagnostics services for well completion and reservoir characterization that utilize downhole chemical and radioactive tracers. It offers its products and services primarily to exploration and production companies for use in onshore wells through technically-trained direct sales force, and operating partners or sales representatives. The company was formerly known as Pioneer Super Holdings, Inc. and changed its name to NCS Multistage Holdings, Inc. in December 2016. NCS Multistage Holdings, Inc. was founded in 2006 and is headquartered in Houston, Texas.Show more
- Revenue$185M+13.6%
- EBITDA$18M+83.4%
- Net Income$24M+260.2%
- EPS (Diluted)8.65+239.2%
- Gross Margin38.24%
- EBITDA Margin9.57%+61.4%
- Operating Margin6.39%+140.1%
- Net Margin12.86%+217.0%
- ROE18.32%+213.4%
NCSM Price & Volume
NCS Multistage Holdings, Inc. (NCSM) stock price & volume — 10-year historical chart
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Cyclical Revenue Volatility Challenges Margin Sustainability
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Cyclical Revenue Volatility
Key Thesis Takeaways
- NCS Multistage Holdings faces a challenging outlook as its proprietary pinpoint fracturing technology struggles to maintain pricing power, evidenced by a recent 8.7% revenue contraction in 2026Q1.
- While the company maintains a fortress balance sheet with a debt-to-equity ratio of only 0.05, the persistent negative retained earnings of $235.6 million and erratic cash conversion cycles suggest significant structural headwinds.
- Investors should monitor whether the firm can stabilize its operating margins, which currently sit at a thin 5.7%, against the backdrop of highly unpredictable North American energy completion activity.
Verdict Logic
while the firm maintains a strong liquidity position with $34.5 million in cash, the 109.3% decline in EPS growth in 2026Q1 and reliance on stock-based compensation exceeding $1 million per quarter warrant a cautious wait-and-see approach.
NCSM Growth Metrics
NCS Multistage Holdings, Inc. (NCSM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years4.94%
5 Years11.54%
3 Years5.88%
TTM6.46%
Profit CAGR
10 Years-1.64%
5 Years-
3 Years-
TTM125.21%
EPS CAGR
10 Years-2.94%
5 Years-
3 Years-
TTM114.6%
Return on Capital
10 Years-11.95%
5 Years0.26%
3 Years2.44%
Last Year8.43%
NCSM Recent Earnings
NCS Multistage Holdings, Inc. (NCSM) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (73%)●Beat Revenue 8/12 qtrs (73%)
Q2 2026Latest
Apr 29, 2026Metric
Actual
Est
EPS
$0.14-110.5%
$1.33
Rev
$46M-10.9%
$51M
Q2 2026
Mar 4, 2026Metric
Actual
Est
EPS
$1.60+128.6%
$0.70
Rev
$51M+14.3%
$44M
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$1.37+17.1%
$1.17
Rev
$47M+6.7%
$44M
Q3 2025
Jul 31, 2025Metric
Actual
Est
EPS
$0.34+123.3%
$1.46
Rev
$36M+32.1%
$28M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.14vs $1.33-110.5% | $46Mvs $51M-10.9% |
| Q2 2026 | Mar 4, 2026 | $1.60vs $0.70+128.6% | $51Mvs $44M+14.3% |
| Q4 2025 | Oct 29, 2025 | $1.37vs $1.17+17.1% | $47Mvs $44M+6.7% |
| Q3 2025 | Jul 31, 2025 | $0.34vs $1.46+123.3% | $36Mvs $28M+32.1% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for NCS Multistage Holdings, Inc. (NCSM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $45.01 | $118.13M | 5.20 | 13.64% | 12.86% | 18.32% | — | |
| $10.70 | $463.43M | -8.56 | 1.41% | 11.52% | — | — | |
| $12.30 | $1.51B | 1576.92 | -12.13% | -1.05% | -1.43% | — | |
| $18.65 | $2.1B | 93.25 | -3.08% | 1.54% | 2.21% | — | |
| $4.71 | $852.14M | -2.05 | -11.37% | -24.17% | -48.48% | — | |
| $2.48 | $49.38M | -0.60 | -10.25% | -11.67% | — | — |
Compare NCSM vs Peers
NCS Multistage Holdings, Inc. (NCSM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NCSM SEC Filings & Documents
NCS Multistage Holdings, Inc. (NCSM) SEC filings — annual & quarterly reports (10-K, 10-Q)
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NCSM Frequently Asked Questions
NCS Multistage Holdings, Inc. (NCSM) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is NCS Multistage Holdings, Inc.'s revenue?
NCS Multistage Holdings, Inc. (NCSM) reported $179.6M in revenue for fiscal year 2025. This represents a 58% increase from $114.0M in 2015.
How fast is NCS Multistage Holdings, Inc. growing?
NCS Multistage Holdings, Inc. (NCSM) grew revenue by 13.6% over the past year. This is steady growth.
Is NCSM profitable?
Yes, NCS Multistage Holdings, Inc. (NCSM) is profitable, generating $19.3M in net income for fiscal year 2025 (12.9% net margin).
Dividend & Returns
What is NCSM's return on equity?
NCS Multistage Holdings, Inc. (NCSM) has a return on equity (ROE) of 18.3%. This is reasonable for most industries.
What is NCS Multistage Holdings, Inc.'s free cash flow?
NCS Multistage Holdings, Inc. (NCSM) generated $23.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.