What is NCS Multistage Holdings's net debt?

NCS Multistage Holdings (NCSM) reported net debt of -$22.34M in Q1 2026.

How has NCS Multistage Holdings's net debt changed year-over-year?

NCS Multistage Holdings's net debt decreased by 147.1% year-over-year, from -$9.04M to -$22.34M.

What is the long-term trend for NCS Multistage Holdings's net debt?

Over 5 years (2020 to 2025), NCS Multistage Holdings's net debt has grown at a 38.2% compound annual growth rate (CAGR), from $3.2M to -$16.13M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

NCS Multistage Holdings NCSM Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$45.6M-8.7%

Gross profit$12.9M-19.8%

Operating income-$1.6M—

Net income$1.7M-60.9%

EPS (diluted)$1.77+12.0%

Balance sheet

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Cash & equivalents$34.5M+49.8%

Total debt$12.1M-13.2%

Total equity$124.8M+21.0%

Total assets$174.6M+12.5%

Cash flow

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Operating cash flow$1.3M+178%

CapEx$591.0K+27.4%

Free cash flow$689.0K+133%

Valuation

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Market cap$117.03M+48.3%

Enterprise value$94.69M+40.9%

P/E5×-0.4×

P/S0.7×+0.2×

Profitability

See full

Gross margin39%+0.2pp

Operating margin-3.9%—

Net margin13%+7.1pp

FCF margin13.3%—

Returns & leverage

See full

Return on equity20.5%+10.3pp

Debt / equity0.1×0.0×

Current ratio5.3×+0.8×

Where this comes from

Calculated from NCS Multistage Holdings’s reported figures.

$12.1Mtotal debt−$34.5Mcash and equivalents=-$22.34M

The official record: NCS Multistage Holdings’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NCS Multistage Holdings's net debt?: NCS Multistage Holdings (NCSM) reported net debt of -$22.34M in Q1 2026.
How has NCS Multistage Holdings's net debt changed year-over-year?: NCS Multistage Holdings's net debt decreased by 147.1% year-over-year, from -$9.04M to -$22.34M.
What is the long-term trend for NCS Multistage Holdings's net debt?: Over 5 years (2020 to 2025), NCS Multistage Holdings's net debt has grown at a 38.2% compound annual growth rate (CAGR), from $3.2M to -$16.13M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.