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Netcapital Inc (NCPL) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Netcapital Inc $1.37, price $1.40, upside -2.2%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Financial Services · US · ISIN US64113L2025

NI Netcapital Inc logo Thin data Oct 3, 2026

Netcapital Inc

NCPL · US

Low PriorityFair Value upside is limited and quality is weak.

Low debt
Fair value $1.37 · Fairly valued (−2.2%)
Quality 32/100
Weak Growth (revenue 5y −13.1 %/yr in USD)
Negative free cash flow
Trails peers (2/8)
Narrow moat 6/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$1,190 $0.2280 Fair Value $1.37 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range $0.2280 – $1,190 · fair‑value band $1.03 – $1.72 · the $1.40 price screens above the $1.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Netcapital Inc. operates as a fintech company with a technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors in the United States. The company's Netcapital Advisors offers marketing and strategic advice and takes equity positions in select companies.

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Netcapital Inc. operates as a fintech company with a technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors in the United States. The company's Netcapital Advisors offers marketing and strategic advice and takes equity positions in select companies. It also provides various services, including an automated onboarding process, filing of required regulatory documents, compliance review, a custom-built offering page on its portal website, email marketing, third-party transfer agent and custodial services, and rolling closes, which provide access to liquidity before the final close date of offerings, as well as assistance with annual filings and direct access to the team for ongoing support. In addition, the company offers advisory services, which include incubation of technology start-ups, investor introductions, online marketing, website design and software development, message crafting including pitch decks, offering pages, and ad creation, strategic advice, and technology consulting services. Netcapital Inc. is based in Boston, Massachusetts.

Stock analysis

Netcapital Inc (NCPL) currently trades at $1.40, while our model-based Fair Value estimate is $1.37, so the stock looks roughly fairly valued today (gap 2.3%).

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the evidence level at low.

Scenario range: $1.03 (bear) to $1.72 (bull), the price of $1.40 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Financial Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Netcapital Inc reported revenue of $869K in FY2025 versus $4.7M in FY2021, a compound −34.5%/yr. Reported net income was −$28.3M in FY2025.

Key figures

Market cap $11.0M · P/S ratio 14.9 · EPS (TTM) $−15.17 · Return on equity −99.5% · Return on assets (EBIT) −9.5% · Operating margin −2,362% · Revenue (TTM) $740K · Revenue growth (YoY) −38.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 45% below its 52-week high and 514% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at −2%, NCPL screens cheaper than that median.

Fair Value models

Bear $1.03 Fair Value $1.37 Bull $1.72
Price $1.40 · Upside -2.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
P/B Multiple $1.21 $1.61 $2.02 55
NCAV (Graham) $0.9500 $1.27 $1.90 54
All 2 models by family
Multiples
P/B Multiple $1.21 $1.61 $2.02 55
Asset-Based
NCAV (Graham) $0.9500 $1.27 $1.90 54

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Quality Score breakdown

Overall quality 32/100

Of which business quality 32 · Market factors (momentum, volatility) 36

Profitability 1
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 1
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 8
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−82.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−45.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.1%
Start year 2020 (pandemic)
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+60.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
61.6% (2019) → −952.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 456 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside −2.2% · Below median
Profitability
Return on assets −18.2% · Bottom 25%
Growth and dividend
Revenue growth −38.2% · Bottom 25%
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 0.74× · Cheaper than median
P/S (TTM) 14.86× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)30 · sector 34
FUTURE (revenue growth)0 · sector 75
PAST (return on equity)0 · sector 33
HEALTH (low debt)98 · sector 94
DIVIDEND (yield)0 · sector 44

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $188.08 $314.07 +67%
The Goldman Sachs Group GS $900.36 $766.86 −15%
The Charles Schwab Corporation SCHW $97.74 $118.07 +21%
Interactive Brokers Group IBKR $89.24 $23.12 −74%
Robinhood Markets, Inc HOOD $116.22 $47.77 −59%
Macquarie Group MQG A$245.63 A$80.51 −67%
CITIC Securities Company 600030 ¥26.29 ¥18.35 −30%
Guotai Haitong Securities Co 601211 ¥17.21 ¥19.35 +12%
East Money Information Co 300059 ¥18.28 ¥4.94 −73%
Nomura Holdings NMR $9.91 $10.19 +3%

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Netcapital Inc · Fair Value
$1.37 −2%Fair Value
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Cite: Fair Value Calculator (2026). "Netcapital Inc Fair Value". https://www.fairvalue-calculator.com/stock/NCPL

Frequently asked questions

Is Netcapital Inc (NCPL) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $1.37 versus a price of $1.40, about −2% upside (fairly valued).
What is the fair value of NCPL?
Our model-based fair value for Netcapital Inc is $1.37 (as of Oct 3, 2026), built from audited fundamentals. The current price: $1.40.
What is the quality score of NCPL?
Netcapital Inc has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Netcapital Inc (NCPL)?
Our model-based price target is the fair value of $1.37 (as of Oct 3, 2026) from 2 valuation models. Cautious scenario $1.03, optimistic scenario $1.72. It is a calculation from audited fundamentals, not an analyst target.
What is the Netcapital Inc stock forecast for 2026?
Our models put fair value at $1.37, about −2% upside versus a price of $1.40 (fairly valued). Cautious scenario $1.03, optimistic scenario $1.72. The calculation is refreshed regularly with new filings.
What is the revenue of Netcapital Inc (NCPL)?
Netcapital Inc reported trailing-twelve-month revenue of about $740K (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of Netcapital Inc (NCPL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Netcapital Inc it is $1.37 per share (as of Oct 3, 2026), against a price of $1.40. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Netcapital Inc stock overvalued or undervalued in 2026?
As of Oct 3, 2026, NCPL trades above its calculated fair value: price $1.40, fair value $1.37, a gap of about −2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NCPL?
No. The price is what the market pays today ($1.40); the fair value is what the company's own numbers justify ($1.37). For Netcapital Inc the two are $0.0310 per share apart. That gap is exactly why we show both numbers side by side.
How much is Netcapital Inc worth?
The market values Netcapital Inc at about $11.0M (market capitalisation, as of Oct 3, 2026). Per share that is $1.40; our models calculate a fair value of $1.37 per share.
What do the bullish and bearish scenarios say about NCPL?
Our models span a range for Netcapital Inc: cautious scenario $1.03, base $1.37, optimistic $1.72 per share (as of Oct 3, 2026, price $1.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Netcapital Inc (NCPL)?
Balance-sheet figures for Netcapital Inc (as of Oct 3, 2026): return on equity −99.5%, debt of 0.03 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is NCPL from its 52-week high?
Netcapital Inc trades at $1.40, about 45% below its 52-week high of $2.54 and 514% above the low of $0.2280 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $1.37 is for.
Which stocks are comparable to Netcapital Inc?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Netcapital Inc stock attractive at the current price?
The data as of Oct 3, 2026: price $1.40, calculated fair value $1.37 (−2%), Quality Score 32/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NCPL calculated?
We run Netcapital Inc through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.37, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Netcapital Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Netcapital Inc (NCPL)?
The closing price on Oct 2, 2026 was $1.40. Our model-based fair value is $1.37, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Netcapital Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Netcapital Inc

How large is the market capitalisation of Netcapital Inc (NCPL)?
The market capitalisation of Netcapital Inc is $11.0M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Netcapital Inc (NCPL)?
The price-to-sales ratio of Netcapital Inc is 14.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Netcapital Inc (NCPL)?
Earnings per share at Netcapital Inc are $−15.17. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Netcapital Inc (NCPL)?
The return on equity (ROE) of Netcapital Inc is −99.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Netcapital Inc (NCPL)?
On an EBIT basis the return on assets of Netcapital Inc is −9.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Netcapital Inc (NCPL)?
The operating margin of Netcapital Inc is −2,362% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Netcapital Inc (NCPL)?
Revenue at Netcapital Inc is growing −38.2% versus a year earlier (3y avg −45.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Netcapital Inc (NCPL)?
Earnings per share at Netcapital Inc are growing −10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Netcapital Inc (NCPL) generate?
The free cash flow of Netcapital Inc is −$5.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Netcapital Inc (NCPL) carry?
The net debt of Netcapital Inc is $2.4M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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