Netcapital (NCPL) Balance Sheet: Assets & Liabilities

Netcapital (NCPL) Balance Sheet

As of Jul 31, 2025 (end of fiscal 2025), Netcapital reported total assets of $20.90M and total liabilities of $6.00M. Shareholders' equity was $14.91M, down 60.7% from $37.94M a year earlier. Total debt stood at $2.68M against $289.43K in cash and short-term investments, a net debt position of $2.39M. That puts debt-to-equity at 0.18, compared with 0.06 a year earlier.

Netcapital Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Netcapital Inc. (NCPL) - Annual data in millions USD
Breakdown	FY 2025	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jul 2025	Apr 2025	Apr 2024	Apr 2023	Jul 2022	Apr 2022	Jul 2021	Apr 2021	Jul 2020	Jul 2019	Apr 2018	Apr 2017
Current Assets
Cash and Cash Equivalents	0.29	0.29	0.86	0.57	0.47	0.47	2.47	2.47	0.01	0.02	0.00	0.00
Cash & Short-Term Investments	0.29	0.29	0.86	0.57	0.47	0.47	2.47	2.47	0.01	0.02	0.00	0.00
Accounts Receivable	0.08	0.08	0.16	1.39	2.43	2.43	1.36	1.36	0.00	0.02	0.01	0.00
Inventory	0.00	-	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00
Other Current Assets	0.03	0.03	0.02	0.58	0.01	0.01	0.65	0.65	0.65	0.03	0.04	0.02
Total Current Assets	0.40	0.40	1.04	2.54	2.91	2.91	4.48	4.48	0.66	0.07	0.04	0.02
Non-Current Assets
Property, Plant & Equipment (Net)	0.00	-	0.00	0.00	15.54	-	14.80	-	-0.14	0.00	0.00	0.00
Long-Term Investments	5.80	5.80	25.78	23.20	13.10	0.24	6.42	6.42	1.41	0.65	0.02	0.00
Intangible Assets	14.70	14.70	14.73	15.88	15.54	15.54	14.80	14.80	0.14	0.00	0.00	0.00
Other Non-Current Assets	0.01	0.01	0.01	0.21	0.21	0.01	0.01	0.01	-179.85	0.01	0.03	0.00
Total Non-Current Assets	20.50	20.50	40.51	39.28	28.85	28.85	21.23	-	1.56	0.65	0.06	0.00
Total Assets	20.90	20.90	41.56	41.82	31.76	31.76	25.72	25.72	2.21	0.72	0.10	0.02
Current Liabilities
Accounts Payable	2.94	2.94	0.79	0.65	0.91	0.54	4.15	4.15	0.30	0.30	0.30	0.30
Short-Term Debt	2.18	1.89	1.89	2.29	3.65	3.65	2.94	1.89	1.06	0.12	0.14	1.87
Current Portion of Long-Term Debt	-	1.89	1.89	1.89	-	1.89	-	1.89	-	-	-	-
Accrued Liabilities	-	0.37	0.40	0.38	-	0.45	-	0.42	-	-	-	-
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.00	0.00
Other Current Liabilities	0.37	-	0.40	2.05	0.49	0.03	1.62	1.20	0.18	0.16	0.15	0.43
Total Current Liabilities	5.50	5.50	3.12	5.16	6.03	6.03	9.15	9.15	1.53	0.58	0.58	2.61
Non-Current Liabilities
Long-Term Debt	0.50	0.50	0.50	0.50	0.50	0.50	2.39	2.39	0.00	1.00	1.00	0.00
Other Non-Current Liabilities	0.00	-	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00
Total Non-Current Liabilities	0.50	0.50	0.50	0.50	0.50	0.50	2.39	-	0.00	1.00	1.00	0.00
Total Liabilities	6.00	6.00	3.62	5.66	6.52	6.52	11.54	11.54	1.53	1.58	1.58	2.61
Stockholders' Equity
Common Stock	0.20	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.83	0.75	0.73	0.53
Retained Earnings	-27.82	-27.82	0.48	5.47	2.51	2.51	-0.99	-0.99	-2.46	-3.07	-3.65	-3.78
Accumulated Other Comprehensive Income	0.00	0.20	0.12	0.00	0.24	0.24	0.00	-	0.00	0.00	0.00	0.00
Additional Paid-in Capital	42.53	42.53	37.34	30.68	22.48	22.48	15.17	-	2.31	1.45	1.43	0.66
Shares Outstanding	-	2.19	0.33	0.09	-	0.04	-	-	-	-	-	-
Total Stockholders' Equity	14.91	14.91	37.94	36.16	25.24	25.24	14.18	14.18	0.68	-0.87	-1.48	-2.59
Total Liabilities & Equity	20.90	20.90	41.56	41.82	31.76	31.76	25.72	-	2.21	0.72	0.10	0.02

Source: Company financial statements from annual and quarterly filings. Data as of Jan 31, 2026. Data sources and methodology

Frequently Asked Questions About Netcapital Balance Sheet

How much debt does Netcapital have?

Netcapital had total debt of $2.68M as of Jul 31, 2025, against $289.43K in cash and short-term investments. Its debt-to-equity ratio was 0.18. Total debt was $2.39M a year earlier.

What are Netcapital's total assets?

Netcapital reported total assets of $20.90M as of Jul 31, 2025, down 49.7% from $41.56M a year earlier. Total liabilities were $6.00M.

What is Netcapital's shareholders' equity?

Netcapital's shareholders' equity was $14.91M as of Jul 31, 2025.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition