What is Netcapital's free cash flow?

Netcapital had negative free cash flow of $5.34M in fiscal 2025 (fiscal year ended Jul 31, 2025).

Does Netcapital pay dividends or buy back shares?

Netcapital's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment.

Netcapital (NCPL) Cash Flow: Operating & Free Cash Flow

Netcapital Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities 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
Operating Activities
Net Income	-28.30	-28.30	-4.99	2.95	3.50	3.50	1.47	1.47	0.60	0.58	0.13	-0.83
Depreciation & Amortization	0.04	0.04	0.09	0.10	0.00	-	-2.51	-	0.00	0.00	0.00	0.38
Deferred Income Tax	0.00	-	-1.66	0.68	0.54	0.54	0.61	-	-0.18	0.00	0.00	-0.39
Stock Based Compensation	0.76	0.76	1.32	0.27	1.18	1.18	0.68	0.68	0.36	0.07	0.13	0.16
Change in Working Capital	2.16	2.16	-0.24	1.16	-0.74	-0.74	-1.18	-1.18	0.04	-0.65	0.07	0.11
Change in Accounts Receivable	0.05	0.05	-0.29	1.04	-1.15	-1.15	-1.42	-1.42	0.02	-0.01	-0.01	0.00
Change in Inventory	0.00	-	0.00	0.04	0.00	-	0.00	-	0.00	-0.27	0.10	0.00
Change in Accounts Payable	2.11	2.11	0.24	0.26	0.27	0.27	0.18	0.18	0.02	0.00	-0.02	0.10
Change in Other Working Capital	0.00	-0.01	-0.18	-8.33	0.14	-4.29	0.05	-0.04	0.00	-0.37	0.00	0.01
Other Operating Activities	20.01	20.01	-1.07	-8.33	-7.49	-4.29	-2.32	-4.22	-0.83	0.03	-0.39	0.99
Net Cash from Operating Activities	-5.34	-5.34	-4.88	-4.62	-3.01	-3.01	-3.25	-3.25	0.00	0.03	-0.05	-0.01
Investing Activities
Capital Expenditures	0.00	-	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00
Acquisitions	0.00	-	0.00	0.00	-0.12	-0.12	0.24	0.36	0.00	0.00	0.00	0.00
Purchases of Investments	0.00	-	0.00	0.20	-0.32	-0.12	0.00	-0.12	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	-	0.00	0.20	0.00	-	0.00	-	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	-	-0.02	0.00	0.12	-0.32	0.00	-0.12	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	0.00	-	-0.02	0.20	-0.32	-0.32	0.24	0.24	0.00	0.00	0.00	0.00
Financing Activities
Debt Repayment	0.26	-	-0.35	-1.06	0.70	-	4.27	-	0.00	-0.02	0.05	0.00
Common Stock Issued	4.51	4.51	5.54	5.57	0.00	0.63	0.00	1.20	0.00	0.01	0.00	0.01
Other Financing Activities	0.00	-	0.00	-0.01	0.63	0.63	1.20	-	0.00	0.00	0.00	0.02
Net Cash from Financing Activities	4.77	4.77	5.19	4.51	1.33	1.33	5.47	5.47	0.00	-0.01	0.05	0.02
Summary
Net Change in Cash	-0.57	-0.57	0.29	0.10	-2.00	-2.00	2.46	2.46	-0.01	0.02	0.00	0.00
Cash at Beginning of Period	0.86	0.86	0.57	0.47	2.47	2.47	0.01	-	0.02	0.00	0.00	0.00
Cash at End of Period	0.29	0.29	0.86	0.57	0.47	0.47	2.47	-	0.01	0.02	0.00	0.00
Free Cash Flow	-5.34	-5.34	-4.88	-4.62	-3.01	-3.01	-3.25	-3.25	0.00	0.03	-0.05	-0.01
Supplemental Disclosures
Interest Paid	-	0.03	0.05	0.21	-	0.00	-	0.00	-	-	-	-
Income Taxes Paid	-	-	-	-	-	-	-	0.00	-	-	-	-

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

Netcapital (NCPL) Cash Flow Statement

Netcapital Cash Flow Statement Analysis

Frequently Asked Questions About Netcapital Cash Flow