Northann (NCL)
Market Price (2/8/2026): $0.1671 | Market Cap: $2.6 MilSector: Consumer Discretionary | Industry: Household Appliances
Northann (NCL)
Market Price (2/8/2026): $0.1671Market Cap: $2.6 MilSector: Consumer DiscretionaryIndustry: Household Appliances
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -82% | Weak multi-year price returns2Y Excs Rtn is -138%, 3Y Excs Rtn is -168% | Penny stockMkt Price is 0.2 |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, Sustainable & Green Buildings, and Sustainable Consumption. Themes include Green Building Materials, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -112% | |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 233% | ||
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10% | ||
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 62% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -50% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -722% | ||
| High stock price volatilityVol 12M is 670% | ||
| Key risksNCL key risks include [1] a "going concern" qualification and potential delisting from the NYSE American due to financial and filing non-compliance, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -82% |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, Sustainable & Green Buildings, and Sustainable Consumption. Themes include Green Building Materials, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -138%, 3Y Excs Rtn is -168% |
| Penny stockMkt Price is 0.2 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -112% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 233% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 62% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -50% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -722% |
| High stock price volatilityVol 12M is 670% |
| Key risksNCL key risks include [1] a "going concern" qualification and potential delisting from the NYSE American due to financial and filing non-compliance, Show more. |
Qualitative Assessment
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Northann (NCL) stock has lost about 70% since 10/31/2025 because of the following key factors:
1. Non-Compliance with NYSE American Listing Standards
Northann Corp. (NCL) received a notice from NYSE American LLC on December 11, 2025, indicating non-compliance with Section 1003(a)(i) of the Exchange's continued listing standards. This section requires a listed company to maintain stockholders' equity of $2 million or more if it has reported losses in two of its three most recent fiscal years. The company was given until January 7, 2026, to submit a plan to regain compliance. This announcement likely contributed significantly to investor concern and the stock's decline.
2. Issuance of Unregistered Shares Leading to Potential Dilution
In December 2025, Northann Corp. disclosed several agreements involving the issuance of unregistered shares of its common stock. On December 18, 2025, the company entered an advisory agreement to issue 1,800,000 shares as compensation for strategic planning advisory services. The following day, on December 19, 2025, another agreement for similar services would result in the issuance of 1,500,000 shares. Additionally, Northann announced plans to acquire and develop software assets, which would also be paid through the issuance of unregistered common stock, including a deal for 12,500,000 shares. These substantial share issuances suggest potential dilution for existing shareholders, which typically puts downward pressure on stock prices.
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1. Non-Compliance with NYSE American Listing Standards
Northann Corp. (NCL) received a notice from NYSE American LLC on December 11, 2025, indicating non-compliance with Section 1003(a)(i) of the Exchange's continued listing standards. This section requires a listed company to maintain stockholders' equity of $2 million or more if it has reported losses in two of its three most recent fiscal years. The company was given until January 7, 2026, to submit a plan to regain compliance. This announcement likely contributed significantly to investor concern and the stock's decline.
2. Issuance of Unregistered Shares Leading to Potential Dilution
In December 2025, Northann Corp. disclosed several agreements involving the issuance of unregistered shares of its common stock. On December 18, 2025, the company entered an advisory agreement to issue 1,800,000 shares as compensation for strategic planning advisory services. The following day, on December 19, 2025, another agreement for similar services would result in the issuance of 1,500,000 shares. Additionally, Northann announced plans to acquire and develop software assets, which would also be paid through the issuance of unregistered common stock, including a deal for 12,500,000 shares. These substantial share issuances suggest potential dilution for existing shareholders, which typically puts downward pressure on stock prices.
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Stock Movement Drivers
Fundamental Drivers
The -72.4% change in NCL stock from 10/31/2025 to 2/7/2026 was primarily driven by a -67.2% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.60 | 0.16 | -72.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12 | 13 | 8.2% |
| P/S Multiple | 0.6 | 0.2 | -67.2% |
| Shares Outstanding (Mil) | 12 | 15 | -22.3% |
| Cumulative Contribution | -72.4% |
Market Drivers
10/31/2025 to 2/7/2026| Return | Correlation | |
|---|---|---|
| NCL | -72.4% | |
| Market (SPY) | 1.3% | 16.6% |
| Sector (XLY) | -1.6% | 12.8% |
Fundamental Drivers
The -87.6% change in NCL stock from 7/31/2025 to 2/7/2026 was primarily driven by a -82.6% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.33 | 0.16 | -87.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 13 | -8.4% |
| P/S Multiple | 1.1 | 0.2 | -82.6% |
| Shares Outstanding (Mil) | 12 | 15 | -22.3% |
| Cumulative Contribution | -87.6% |
Market Drivers
7/31/2025 to 2/7/2026| Return | Correlation | |
|---|---|---|
| NCL | -87.6% | |
| Market (SPY) | 9.6% | 9.2% |
| Sector (XLY) | 6.8% | 5.8% |
Fundamental Drivers
The -92.7% change in NCL stock from 1/31/2025 to 2/7/2026 was primarily driven by a -80.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312025 | 2072026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.27 | 0.16 | -92.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16 | 13 | -16.6% |
| P/S Multiple | 0.4 | 0.2 | -55.9% |
| Shares Outstanding (Mil) | 3 | 15 | -80.2% |
| Cumulative Contribution | -92.7% |
Market Drivers
1/31/2025 to 2/7/2026| Return | Correlation | |
|---|---|---|
| NCL | -92.7% | |
| Market (SPY) | 15.8% | 5.5% |
| Sector (XLY) | 2.3% | 5.0% |
Fundamental Drivers
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Market Drivers
1/31/2023 to 2/7/2026| Return | Correlation | |
|---|---|---|
| NCL | ||
| Market (SPY) | 76.2% | 4.9% |
| Sector (XLY) | 62.5% | 4.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NCL Return | - | - | -68% | -82% | -87% | -43% | -100% |
| Peers Return | 21% | -45% | 29% | 25% | -18% | 12% | -1% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 81% |
Monthly Win Rates [3] | |||||||
| NCL Win Rate | - | - | 33% | 42% | 42% | 0% | |
| Peers Win Rate | 52% | 35% | 54% | 50% | 46% | 75% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NCL Max Drawdown | - | - | -68% | -89% | -94% | -43% | |
| Peers Max Drawdown | -15% | -51% | -17% | -15% | -33% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MHK, TILE, FND, CULP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/6/2026 (YTD)
How Low Can It Go
NCL has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -40.3% | -25.4% |
| % Gain to Breakeven | 67.4% | 34.1% |
| Time to Breakeven | 680 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -33.9% | -33.9% |
| % Gain to Breakeven | 51.3% | 51.3% |
| Time to Breakeven | 82 days | 148 days |
| 2018 Correction | ||
| % Loss | -21.9% | -19.8% |
| % Gain to Breakeven | 28.1% | 24.7% |
| Time to Breakeven | 105 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -60.1% | -56.8% |
| % Gain to Breakeven | 150.8% | 131.3% |
| Time to Breakeven | 779 days | 1,480 days |
Compare to MHK, TILE, FND, CULP
In The Past
SPDR Select Sector Fund's stock fell -40.3% during the 2022 Inflation Shock from a high on 11/19/2021. A -40.3% loss requires a 67.4% gain to breakeven.
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About Northann (NCL)
We bring additive manufacturing, commonly known as 3D printing, and the volume production of innovative building solutions, to your home or business. Our robust portfolio of manufacturing solutions relies upon the use of ink, coating, resin, sound padding, glue and other raw materials to create a wide variety of flooring, decking and other products for customers throughout North America (mainly the United States and Canada), Europe and other regions under the brand name “Benchwick.” We believe that additive manufacturing is one of the most exciting and eco-friendly technologies in the market today. Previously, the U.S. Department of Energy estimated that, compared to traditional manufacturing, additive manufacturing might slash waste and materials cost by nearly 90% and cut manufacturing energy use by half(1). As of 2019, the additive manufacturing industry was valued at over $14 billion and was expected to grow to $23 billion this year(2). Innovation has always been our core value. Our commitment to new approaches in designing and manufacturing drives us to create new ways to improve how our core customers live and work. Crazy Industry invests substantial resources in research and product development and is committed to rapidly building new products and customizable and functional solutions to delight our customers. Crazy Industry’s product development team is committed to product design and development, and they focus their efforts on enhancing function, use, performance and flexibility of our products. As of the date of this prospectus, our subsidiaries, NBS, NCP and Crazy Industry, own a portfolio of over 60 granted or pending patents. The products reflect the evolving needs of our core customer’s home and business needs. We strive to make the products customizable, functional and affordable. Presently, NCP manufactures four proprietary solutions in vinyl flooring using innovative 3D printing technology: Infinite Glass, DSE, TruBevel and MattMaster. Each solution offers distinct functionalities and aesthetic finishes. Our revenue mainly consists of wholesale and retail of the vinyl flooring products, which are primarily marketed and sold in the United States and Canada. During the fiscal years ended December 31, 2022, 2021 and 2020, 99.52%, 100% and 99.92% of our revenue came from vinyl flooring products and other decorative panels. During the six months ended June 30, 2023, 100% of our revenue came from vinyl flooring products and other decorative panels. NBS has also licensed some of its patents to other manufacturers with the goal to promote the technologies covered by those patents in the flooring industry. We believe that a wider market acceptance of 3D printed flooring will help establish the “Benchwick” brand further and to penetrate the markets and encourages innovation and changes to an already developed and static industry. During the fiscal years ended December 31, 2022 and 2021, 0.48% and 0.08% of our revenue came from patent licensing. We did not have revenue from patent licensing during the fiscal year ended December 31, 2020 or the six months ended June 30, 2023. We serve customers in North America (mainly the United States and Canada), Europe and other regions. During the fiscal year ended December 31, 2022, 85.50% of our revenue came from customers in the United States and 12.95% came from customers in Canada. During the fiscal year ended December 31, 2021, 91.53% of our revenue came from customers in the United States and 7.55% came from customers in Canada. During the fiscal year ended December 31, 2020, 69.65% of our revenue came from customers in the United States and 22.03% came from customers in Canada. During the six months ended June 30, 2023, 96.63% of our revenue came from customers in the United States and 2.67% came from customers in Canada. During the six months ended June 30, 2023 and the fiscal years ended December 31, 2022, 2021 and 2020, 0.70%, 0.49%, 0.84% and 8.32% of our revenue came from customers in Europe and less than 1% of the revenue came from customers in other regions. (1) Additive Manufacturing Building the Future Spotlight (energy.gov), by U.S. Department of Energy, Office of Technology Transitions, original published in April 2019 and updated in July 2019, https://www.energy.gov/sites/ default/files/2019/07/f64/2019-OTT-Additive-Manufacturing-Spotlight_0.pdf. (2) Additive Manufacturing Building the Future Spotlight (energy.gov), by U.S. Department of Energy, Office of Technology Transitions, original published in April 2019 and updated in July 2019, In June 2020, Dotfloor was established in California. Dotfloor operates dotfloor.com, our online store that offers our vinyl flooring products to retail customers in the United States. Our principal executive office is located at c/o Northann Distribution Center Inc, 9820 Dino Drive, Suite 110, CA 95624. The telephone number of our principal executive offices is (916) 573 3803. Our registered agent in the United States is Vcorp Services. LLC, located at 701 S. Carson Street, Suite 200, Carson City, NV.
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Mohawk Industries for innovative vinyl and composite flooring.
The 3M of advanced flooring materials.
Interface for eco-friendly, high-performance vinyl and composite flooring.
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- SPC Flooring: A type of rigid core luxury vinyl flooring known for its waterproof, durable, and scratch-resistant properties, often designed to mimic wood or stone.
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Northann (symbol: NCL) primarily sells its flooring products (such as SPC flooring) and other building materials to other companies, operating on a business-to-business (B2B) model.
Based on Northann's most recent annual report (Form 10-K), the company explicitly states that no single customer accounted for 10% or more of its total revenues for the past two fiscal years. This indicates a diversified customer base and means there are no "major customers" in terms of revenue concentration that can be individually named.
Northann's products are sold to a network of customers that include:
- Wholesalers
- Distributors
- Large retailers in the home improvement and building materials industry
These companies, in turn, sell to contractors, smaller retailers, and other end-users. Due to the lack of revenue concentration from any single entity, specific names of these customer companies are not publicly disclosed as major customers.
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Lin Li, Founder, President, Chief Executive Officer, Board Director, Secretary and Treasurer
Mr. Li founded Northann in 2013 and currently serves as its President, Chief Executive Officer, Board Director, Secretary, and Treasurer. During his career, he has successfully built several businesses that have generated over one billion dollars in revenue. At Northann, Mr. Li developed an industry-leading 3D printing ecosystem within the home improvement sector. Previously, he was the General Manager of Changz.... He holds a B.S. degree from Sichuan International Studies University.
Sunny S. Prasad, Interim Chief Financial Officer
Mr. Prasad was appointed as the interim CFO of Northann Corp. effective April 23, 2024. He is a seasoned accountant with over three decades of experience.
Kurt Winn, Chief Operating Officer, Board Director
Mr. Winn is a key contributing member of Northann Corporation's leadership team, where he is responsible for creating operational strategy and directing the production of Northann's products for global markets. He also oversees the formation and direction of the sales team's training and development programs and manages day-to-day tactical and long-term strategic activities within the business. Mr. Winn holds a B.S. degree in Business Management from Arizona State University.
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The key risks to Northann (NCL) are primarily financial and regulatory, posing significant threats to its continued operation and stock market listing.
- Going Concern Qualification and Potential Delisting: Northann's 2024 audit opinion includes a "going concern qualification," signaling substantial doubt about the company's ability to continue operations without securing additional funding. Furthermore, the company has received multiple notices from NYSE American for failing to meet continuous listing standards, including delayed annual report (Form 10-K) filings and not maintaining the required $2 million in stockholders' equity. Failure to resolve these issues within the stipulated cure periods could result in the suspension or delisting of its shares from the exchange.
- Weak Liquidity and Financial Instability: The company faces significant financial instability, evidenced by a negative EBITDA of $1.03 million and a concerning current ratio of 0.61, indicating that its liabilities exceed short-term assets. This weak liquidity suggests a potential inability to meet short-term financial obligations. Northann has also relied on equity sales, rather than operational cash flow, to secure funding, which raises questions about the sustainability of its business model.
- Low Revenue Generation Despite Patented Technology: Despite holding over 60 patents in 3D printing and additive manufacturing for building materials, Northann has struggled with revenue generation. This reliance on equity infusions to sustain operations, rather than robust sales from its patented products, highlights a critical challenge in translating its technological innovations into profitable business outcomes.
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The increasing commoditization and intense price competition within the Stone Plastic Composite (SPC) flooring market pose a significant emerging threat. Due to a rapid proliferation of manufacturers globally, particularly from regions with lower production costs, the market has experienced an oversupply and significant downward pressure on pricing. This trend erodes profit margins and makes it challenging for companies like Northann to maintain competitive advantages solely based on product features, thus threatening their long-term profitability and market share.
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Northann Corp. (NCL) operates primarily in the market for 3D-printed flooring solutions, particularly luxury vinyl flooring, and also offers decking products.
Addressable Market Sizes:
Luxury Vinyl Flooring/Tiles
- North America: The luxury vinyl flooring market in North America was valued at approximately USD 12.21 billion in 2024 and is projected to reach USD 23.84 billion by 2031, demonstrating a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
- United States: Within North America, the U.S. luxury vinyl flooring market held a significant share, estimated at USD 9.63 billion in 2024, and is expected to grow at a CAGR of 8.6% during the forecast period.
- Global: The global vinyl flooring market size was USD 36.63 billion in 2023 and is projected to grow from USD 39.19 billion in 2024 to USD 66.94 billion in 2032, at a CAGR of 6.8% during this period.
Composite Decking
- Global: The global composite decking market size was valued at USD 4.2 billion in 2023 and is expected to increase from USD 4.91 billion in 2024 to USD 16.99 billion by 2032, growing at a CAGR of 16.8% from 2025 to 2032.
- United States: The composite decking market in the United States is projected to be approximately USD 1.75 billion in 2025.
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Here are 3-5 expected drivers of future revenue growth for Northann (NCL) over the next 2-3 years:
- Expansion of 3D Printing Facility and Manufacturing Capabilities: Northann secured a $24 million loan to expand its 3D printing facility in Fort Lawn, South Carolina. This expansion is aimed at bolstering manufacturing capabilities, effectively converting innovation into consumer products, and accelerating the launch of new products.
- New Product Launches and Innovation in 3D Printing Ecosystem: The company is a key innovator in 3D printing technology for home improvement solutions. Its receipt of "Best of Innovation" awards for new products within its "Benchwick" brand 3D-printing ecosystem, including eco-friendly materials and advanced flooring solutions, indicates that continued investment in research and development and the introduction of new offerings will be a significant growth driver.
- Increased Customer Demand and Enhanced Marketing Efforts: Northann reported substantial revenue growth in Q1 2024, driven by strong demand for its advanced flooring solutions. The company has previously attributed revenue increases to successful marketing efforts and growing customer interest.
- Strategic Geographic Expansion and Market Penetration: The relocation of Northann's corporate headquarters to the American South is a strategic move to position the company closer to its customers, aligning with its growth and innovation strategy. This suggests efforts to deepen market penetration in key regions (North America and Europe) where its sales network is already established.
- Focus on Sustainable Manufacturing and Eco-friendly Product Development: Northann's emphasis on sustainable manufacturing and the development of eco-friendly products, such as those utilizing recycled ocean plastic waste, is expected to appeal to an increasingly environmentally conscious consumer base, thereby driving demand and revenue.
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Share Issuance
- Northann completed its initial public offering (IPO) on February 7, 2025, offering 1,200,000 shares of common stock at $5 per share, generating gross proceeds of $6,000,000.
- On March 31, 2025, Northann issued 40,000,000 shares of common stock in a private placement to Oneflow Purchasers at $0.2033 per share, with proceeds intended for working capital.
- On September 3, 2025, the company issued 80,000,000 shares of common stock in a private placement to X29 LLC and other passive investors at $0.14284 per share, also for working capital.
Inbound Investments
- In a private placement closed March 31, 2025, Northann received approximately $8,133,000 (5 investors wired $1,626,600 each) from Oneflow Purchasers.
- On September 3, 2025, the company received approximately $11,427,200 (5 purchasers wired $2,285,440 each) from X29 LLC and other passive investors in a private placement.
Outbound Investments
- In October 2024, Northann Corp. completed the acquisition of Cedar Modern Limited.
- In November 2024, the company completed the acquisition of Raleigh Industries Limited.
Capital Expenditures
- Northann Corp.'s capital expenditures for the fiscal year ended December 31, 2024, were reported as $296,000.
- The primary focus of capital expenditures is likely on additive manufacturing and 3D printing technologies for the building materials industry, as the company invests substantial resources in research and product development to enhance its products.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Northann Stock (+49%): Strategic Advisory Agreements Spark Rally | 12/25/2025 | |
| With Northann Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 34.63 |
| Mkt Cap | 2.0 |
| Rev LTM | 1,372 |
| Op Inc LTM | 158 |
| FCF LTM | 23 |
| FCF 3Y Avg | 116 |
| CFO LTM | 157 |
| CFO 3Y Avg | 146 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.8% |
| Rev Chg 3Y Avg | -3.2% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Mgn LTM | 5.1% |
| Op Mgn 3Y Avg | 5.4% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 7.7% |
| CFO/Rev 3Y Avg | 10.1% |
| FCF/Rev LTM | 0.5% |
| FCF/Rev 3Y Avg | 3.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.0 |
| P/S | 0.8 |
| P/EBIT | 13.0 |
| P/E | 17.8 |
| P/CFO | 8.2 |
| Total Yield | 2.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.2% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.0% |
| 3M Rtn | 17.1% |
| 6M Rtn | -12.8% |
| 12M Rtn | -31.3% |
| 3Y Rtn | -29.9% |
| 1M Excs Rtn | 7.1% |
| 3M Excs Rtn | 10.9% |
| 6M Excs Rtn | -22.3% |
| 12M Excs Rtn | -47.3% |
| 3Y Excs Rtn | -95.5% |
Price Behavior
Price Behavior
| Market Price | $0.16 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 10/19/2023 | |
| Distance from 52W High | -98.5% | |
| 50 Days | 200 Days | |
| DMA Price | $0.27 | $1.52 |
| DMA Trend | down | down |
| Distance from DMA | -38.3% | -89.2% |
| 3M | 1YR | |
| Volatility | 190.5% | 672.2% |
| Downside Capture | 592.76 | 448.29 |
| Upside Capture | -54.81 | 132.37 |
| Correlation (SPY) | 10.9% | 5.5% |
NCL Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.82 | 1.04 | 2.45 | 7.76 | 1.86 | 1.35 |
| Up Beta | 3.38 | -4.77 | 0.60 | 3.62 | 0.12 | -0.84 |
| Down Beta | 1.61 | 0.74 | 1.90 | 0.94 | 0.46 | -0.41 |
| Up Capture | -21% | -216% | -80% | 816% | 134% | -4% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 15 | 21 | 46 | 106 | 254 |
| Down Capture | 1046% | 606% | 462% | 405% | 172% | 112% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 12 | 25 | 38 | 77 | 140 | 308 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NCL | |
|---|---|---|---|---|
| NCL | -92.4% | 669.6% | 0.71 | - |
| Sector ETF (XLY) | 3.7% | 24.2% | 0.09 | 5.0% |
| Equity (SPY) | 15.4% | 19.4% | 0.61 | 5.5% |
| Gold (GLD) | 73.9% | 24.8% | 2.19 | 6.8% |
| Commodities (DBC) | 8.9% | 16.6% | 0.34 | 1.0% |
| Real Estate (VNQ) | 4.6% | 16.5% | 0.10 | -4.1% |
| Bitcoin (BTCUSD) | -27.1% | 44.7% | -0.57 | 8.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NCL | |
|---|---|---|---|---|
| NCL | -66.1% | 461.0% | 0.46 | - |
| Sector ETF (XLY) | 8.1% | 23.7% | 0.30 | 4.5% |
| Equity (SPY) | 14.4% | 17.0% | 0.68 | 4.9% |
| Gold (GLD) | 21.4% | 16.9% | 1.03 | 5.8% |
| Commodities (DBC) | 11.5% | 18.9% | 0.49 | -0.3% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | -0.4% |
| Bitcoin (BTCUSD) | 16.1% | 58.0% | 0.49 | 6.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NCL | |
|---|---|---|---|---|
| NCL | -41.8% | 461.0% | 0.46 | - |
| Sector ETF (XLY) | 13.5% | 21.9% | 0.56 | 4.5% |
| Equity (SPY) | 15.4% | 17.9% | 0.74 | 4.9% |
| Gold (GLD) | 15.7% | 15.5% | 0.84 | 5.8% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | -0.3% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | -0.4% |
| Bitcoin (BTCUSD) | 68.7% | 66.7% | 1.08 | 6.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 07/18/2025 | 10-Q |
| 12/31/2024 | 07/01/2025 | 10-K |
| 09/30/2024 | 11/19/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 04/16/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/24/2023 | S-1/A |
| 03/31/2023 | 07/14/2023 | S-1 |
| 09/30/2022 | 02/10/2023 | DRS/A |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Zhang, Jing | Direct | Sell | 11202025 | 0.15 | 63,740 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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