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Energy · Oil & Gas Equipment & Services · United States · Updated May 11, 6:04am
$40.36
Price
$105.9M
Market Cap
252
Employees
0.35
Beta
Ryan Hummer
CEO
Business Description
NCS 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.
Business History
Price Overview
Last updated: May 11, 2026 1:58pm (just now)$40.91
+0.55 (+1.36%)
Day Range
$39.63 – $41.19
52-Week Range
$28.64 – $87.36
50-Day MA
$62.36
200-Day MA
$45.41
Volume
23,316.82
Share Structure
Outstanding
2,624,520.00
Float
763,788.00
Free Float
29.1%
Low free float
— 29.1% of shares trade freely, ~70.9% held by insiders/institutions
Below average liquidity. Large orders can move the price significantly. Insiders or strategic holders control the majority — watch for lockup expirations or secondary offerings.
Small absolute float (0.8M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
5.57
Stock Price: $40.36
EPS (Diluted): 9.17
EPS (Diluted): 9.17
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.81
Stock Price: $40.36
Total Equity: $126.24M
Shares: 2,746,000
Total Equity: $126.24M
Shares: 2,746,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
4.23
Market Cap: $105.93M
Total Debt: $3.97M
Cash: $36.73M
EBITDA: $17.68M
Total Debt: $3.97M
Cash: $36.73M
EBITDA: $17.68M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$78.5M
Market Cap: $105.93M
Total Debt: $3.97M
Cash: $36.73M
Total Debt: $3.97M
Cash: $36.73M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
38.2%
Gross Profit: $70.64M
Revenue: $184.73M
Revenue: $184.73M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
6.4%
Operating Income: $11.80M
Revenue: $184.73M
Revenue: $184.73M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
12.9%
Net Income: $23.75M
Revenue: $184.73M
Revenue: $184.73M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
16.5%
Net Income: $23.75M
Total Equity: $126.24M
Total Equity: $126.24M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
6.0%
Operating Income: $11.80M
Tax Rate: -54.8%
Equity: $126.24M
Total Debt: $3.97M
Cash: $36.73M
Tax Rate: -54.8%
Equity: $126.24M
Total Debt: $3.97M
Cash: $36.73M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
4.27
Current Assets: $121.92M
Current Liabilities: $28.53M
Current Liabilities: $28.53M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.03
Short-Term Debt: $3.97M
Long-Term Debt: $0.00
Total Debt: $3.97M
Total Equity: $126.24M
Long-Term Debt: $0.00
Total Debt: $3.97M
Total Equity: $126.24M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$67.27
Revenue: $184.73M
Shares: 2,746,000
Shares: 2,746,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$45.97
Total Equity: $126.24M
Shares: 2,746,000
Shares: 2,746,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$7.64
Operating CF: $22.18M
CapEx: -$1.20M
Shares: 2,746,000
CapEx: -$1.20M
Shares: 2,746,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $40.36
Stock Price: $40.36
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $23.75M
Net Income: $23.75M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares NCSM against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $118.5M | $155.6M | $142.5M | $162.6M | $184.7M |
| Cost of Revenue | $74.5M | $99.5M | $91.5M | $100.4M | $114.1M |
| Gross Profit | $44.0M | $56.1M | $51.0M | $62.1M | $70.6M |
| Operating Expenses | $49.1M | $58.3M | $56.5M | $57.8M | $58.8M |
| Operating Income | -$5.1M | -$2.3M | -$5.5M | $4.3M | $11.8M |
| Net Income | -$4.7M | -$1.1M | -$3.2M | $6.6M | $23.7M |
| EBITDA | $1.7M | $4.7M | $1.9M | $14.0M | $17.7M |
| EPS | $-1.98 | $-0.45 | $-1.27 | $2.60 | $9.17 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $22.2M | $16.2M | $16.7M | $25.9M | $36.7M |
| Total Current Assets | $88.5M | $87.7M | $103.2M | $105.6M | $121.9M |
| Total Assets | $142.3M | $138.6M | $152.0M | $152.8M | $181.2M |
| Current Liabilities | $19.8M | $17.7M | $32.1M | $25.4M | $28.5M |
| Long-Term Debt | $6.3M | $56,000 | $0 | $0 | $0 |
| Total Liabilities | $31.7M | $29.3M | $42.6M | $36.7M | $38.1M |
| Total Equity | $92.6M | $91.0M | $91.6M | $98.8M | $126.2M |
| Retained Earnings | -$261.4M | -$262.5M | -$265.6M | -$259.0M | -$235.3M |
Cash Flow (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $11.6M | -$1.4M | $4.8M | $12.7M | $22.2M |
| Capital Expenditure | $-833,000 | -$1.1M | -$2.2M | -$1.3M | -$1.2M |
| Free Cash Flow | $10.8M | -$2.6M | $2.6M | $11.4M | $21.0M |
| Acquisitions (net) | $389,000 | $433,000 | $0 | $0 | -$5.8M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $-197,000 | $-383,000 | $-287,000 | $-267,000 | $-326,000 |
| Net Change in Cash | $6.6M | -$5.9M | $486,000 | $9.2M | $10.8M |
Analyst Estimates (Annual)
| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$157.8M $156.9M – $158.8M
|
$177.3M $176.6M – $178.0M
|
$192.0M $190.8M – $193.2M
|
$203.2M $199.6M – $206.7M
|
| EBITDA |
$7.6M $7.5M – $7.6M
|
$8.5M $8.5M – $8.5M
|
$9.2M $9.1M – $9.3M
|
$9.7M $9.6M – $9.9M
|
| Net Income |
$5.9M $5.9M – $6.0M
|
$10.7M $10.6M – $10.8M
|
$9.4M $6.9M – $11.8M
|
$11.8M $10.8M – $12.9M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +31.3% | -8.5% | +14.1% | +13.6% |
| Gross Profit Growth | +27.5% | -9.1% | +21.9% | +13.7% |
| Operating Income Growth | +56.0% | -145.5% | +178.2% | +172.8% |
| Net Income Growth | +76.7% | -186.1% | +309.1% | +260.2% |
| EBITDA Growth | +175.5% | -60.7% | +652.2% | +26.5% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-02-28 | WILLIAMS DEWAYNE | M-Exempt | 4,535.00 | $0.00 | $0 |
| 2026-03-03 | WILLIAMS DEWAYNE | A-Award | 1,366.00 | $0.00 | $0 |
| 2026-03-03 | WILLIAMS DEWAYNE | A-Award | 1,366.00 | $0.00 | $0 |
| 2026-02-28 | WILLIAMS DEWAYNE | F-InKind | 4,535.00 | $39.84 | $180,674 |
| 2026-02-28 | WILLIAMS DEWAYNE | D-Return | 301.00 | $39.84 | $11,992 |
| 2026-02-28 | WILLIAMS DEWAYNE | M-Exempt | 4,535.00 | $0.00 | $0 |
| 2026-03-03 | LEV ORI | A-Award | 1,940.00 | $0.00 | $0 |
| 2026-03-02 | LEV ORI | A-Award | 6,853.00 | $0.00 | $0 |
| 2026-02-28 | LEV ORI | M-Exempt | 5,289.00 | $0.00 | $0 |
| 2026-03-02 | LEV ORI | D-Return | 1,730.00 | $40.93 | $70,809 |
| 2026-02-28 | LEV ORI | F-InKind | 5,289.00 | $39.84 | $210,714 |
| 2026-02-28 | LEV ORI | D-Return | 374.00 | $39.84 | $14,900 |
| 2026-03-03 | LEV ORI | A-Award | 1,940.00 | $0.00 | $0 |
| 2026-02-28 | LEV ORI | M-Exempt | 5,289.00 | $0.00 | $0 |
| 2026-03-03 | LEV ORI | A-Award | 3,921.00 | $0.00 | $0 |
| 2026-03-03 | MORRISON MICHAEL L | A-Award | 2,463.00 | $0.00 | $0 |
| 2026-03-02 | MORRISON MICHAEL L | A-Award | 7,996.00 | $0.00 | $0 |
| 2026-03-02 | MORRISON MICHAEL L | D-Return | 2,019.00 | $40.93 | $82,638 |
| 2026-02-28 | MORRISON MICHAEL L | M-Exempt | 4,972.00 | $0.00 | $0 |
| 2026-03-03 | MORRISON MICHAEL L | A-Award | 2,463.00 | $0.00 | $0 |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27