NCINO INC (NCNO) Fundamental Analysis & Valuation

NASDAQ:NCNO • US63947X1019

16.435 USD
-0.39 (-2.29%)
Last: Mar 9, 2026, 09:44 AM
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This NCNO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Taking everything into account, NCNO scores 4 out of 10 in our fundamental rating. NCNO was compared to 277 industry peers in the Software industry. Both the profitability and financial health of NCNO have multiple concerns. NCNO is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

3

1. NCNO Profitability Analysis

1.1 Basic Checks

  • NCNO had positive earnings in the past year.
  • NCNO had a positive operating cash flow in the past year.
  • In the past 5 years NCNO always reported negative net income.
  • The reported operating cash flow has been mixed in the past 5 years: NCNO reported negative operating cash flow in multiple years.
NCNO Yearly Net Income VS EBIT VS OCF VS FCFNCNO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M -100M

1.2 Ratios

  • NCNO has a Return On Assets (-1.39%) which is in line with its industry peers.
  • NCNO's Return On Equity of -2.09% is in line compared to the rest of the industry. NCNO outperforms 57.40% of its industry peers.
  • The Return On Invested Capital of NCNO (0.31%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA -1.39%
ROE -2.09%
ROIC 0.31%
ROA(3y)-4.42%
ROA(5y)-4.85%
ROE(3y)-5.85%
ROE(5y)-6.34%
ROIC(3y)N/A
ROIC(5y)N/A
NCNO Yearly ROA, ROE, ROICNCNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 2025 -10 -20 -30

1.3 Margins

  • NCNO has a better Operating Margin (0.90%) than 60.29% of its industry peers.
  • NCNO has a worse Gross Margin (60.33%) than 62.45% of its industry peers.
  • In the last couple of years the Gross Margin of NCNO has grown nicely.
Industry RankSector Rank
OM 0.9%
PM (TTM) N/A
GM 60.33%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.42%
GM growth 5Y2.3%
NCNO Yearly Profit, Operating, Gross MarginsNCNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60

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3

2. NCNO Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NCNO is destroying value.
  • The number of shares outstanding for NCNO has been increased compared to 1 year ago.
  • The number of shares outstanding for NCNO has been increased compared to 5 years ago.
  • NCNO has a worse debt/assets ratio than last year.
NCNO Yearly Shares OutstandingNCNO Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
NCNO Yearly Total Debt VS Total AssetsNCNO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

2.2 Solvency

  • NCNO has an Altman-Z score of 2.27. This is not the best score and indicates that NCNO is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of NCNO (2.27) is comparable to the rest of the industry.
  • NCNO has a debt to FCF ratio of 4.27. This is a neutral value as NCNO would need 4.27 years to pay back of all of its debts.
  • The Debt to FCF ratio of NCNO (4.27) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.24 indicates that NCNO is not too dependend on debt financing.
  • NCNO's Debt to Equity ratio of 0.24 is in line compared to the rest of the industry. NCNO outperforms 42.96% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.24
Debt/FCF 4.27
Altman-Z 2.27
ROIC/WACC0.03
WACC10.87%
NCNO Yearly LT Debt VS Equity VS FCFNCNO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M 1B

2.3 Liquidity

  • NCNO has a Current Ratio of 1.01. This is a normal value and indicates that NCNO is financially healthy and should not expect problems in meeting its short term obligations.
  • NCNO has a Current ratio of 1.01. This is in the lower half of the industry: NCNO underperforms 74.37% of its industry peers.
  • A Quick Ratio of 1.01 indicates that NCNO should not have too much problems paying its short term obligations.
  • NCNO has a worse Quick ratio (1.01) than 73.65% of its industry peers.
Industry RankSector Rank
Current Ratio 1.01
Quick Ratio 1.01
NCNO Yearly Current Assets VS Current LiabilitesNCNO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. NCNO Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 8.00% over the past year.
  • NCNO shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.14%.
  • NCNO shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 31.37% yearly.
EPS 1Y (TTM)8%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%47.62%
Revenue 1Y (TTM)12.14%
Revenue growth 3Y25.44%
Revenue growth 5Y31.37%
Sales Q2Q%9.63%

3.2 Future

  • Based on estimates for the next years, NCNO will show a very strong growth in Earnings Per Share. The EPS will grow by 24.36% on average per year.
  • NCNO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.18% yearly.
EPS Next Y40%
EPS Next 2Y25.88%
EPS Next 3Y24.36%
EPS Next 5YN/A
Revenue Next Year9.78%
Revenue Next 2Y8.82%
Revenue Next 3Y9.18%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
NCNO Yearly Revenue VS EstimatesNCNO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M
NCNO Yearly EPS VS EstimatesNCNO Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 0 0.5 1

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6

4. NCNO Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 20.29, NCNO is valued on the expensive side.
  • Based on the Price/Earnings ratio, NCNO is valued a bit cheaper than 72.56% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.29, NCNO is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 15.71 indicates a correct valuation of NCNO.
  • NCNO's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. NCNO is cheaper than 75.09% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of NCNO to the average of the S&P500 Index (24.60), we can say NCNO is valued slightly cheaper.
Industry RankSector Rank
PE 20.29
Fwd PE 15.71
NCNO Price Earnings VS Forward Price EarningsNCNO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 62.09% of the companies in the same industry are more expensive than NCNO, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, NCNO is valued a bit cheaper than the industry average as 62.82% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 31.56
EV/EBITDA 44.13
NCNO Per share dataNCNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

  • NCNO's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • NCNO's earnings are expected to grow with 24.36% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.51
PEG (5Y)N/A
EPS Next 2Y25.88%
EPS Next 3Y24.36%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. NCNO Dividend Analysis

5.1 Amount

  • No dividends for NCNO!.
Industry RankSector Rank
Dividend Yield 0%

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NCNO Fundamentals: All Metrics, Ratios and Statistics

NCINO INC

NASDAQ:NCNO (3/9/2026, 9:44:40 AM)

16.435

-0.39 (-2.29%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)12-03
Earnings (Next)03-31
Inst Owners109.13%
Inst Owner Change-4.34%
Ins Owners1.2%
Ins Owner Change-2.33%
Market Cap1.88B
Revenue(TTM)586.49M
Net Income(TTM)-21.77M
Analysts77.5
Price Target35.15 (113.87%)
Short Float %11.56%
Short Ratio6.07
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)53.34%
Min EPS beat(2)51.91%
Max EPS beat(2)54.77%
EPS beat(4)2
Avg EPS beat(4)17.04%
Min EPS beat(4)-36.6%
Max EPS beat(4)54.77%
EPS beat(8)6
Avg EPS beat(8)26.96%
EPS beat(12)10
Avg EPS beat(12)40.14%
EPS beat(16)14
Avg EPS beat(16)38.49%
Revenue beat(2)2
Avg Revenue beat(2)1.83%
Min Revenue beat(2)1.74%
Max Revenue beat(2)1.91%
Revenue beat(4)3
Avg Revenue beat(4)0.62%
Min Revenue beat(4)-1.59%
Max Revenue beat(4)1.91%
Revenue beat(8)3
Avg Revenue beat(8)-0.38%
Revenue beat(12)4
Avg Revenue beat(12)-0.21%
Revenue beat(16)7
Avg Revenue beat(16)0.29%
PT rev (1m)0%
PT rev (3m)-3.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.48%
EPS NY rev (1m)0%
EPS NY rev (3m)15.41%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)0.07%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.89%
Valuation
Industry RankSector Rank
PE 20.29
Fwd PE 15.71
P/S 3.21
P/FCF 31.56
P/OCF 28.09
P/B 1.81
P/tB N/A
EV/EBITDA 44.13
EPS(TTM)0.81
EY4.93%
EPS(NY)1.05
Fwd EY6.36%
FCF(TTM)0.52
FCFY3.17%
OCF(TTM)0.59
OCFY3.56%
SpS5.11
BVpS9.08
TBVpS-1.5
PEG (NY)0.51
PEG (5Y)N/A
Graham Number12.87
Profitability
Industry RankSector Rank
ROA -1.39%
ROE -2.09%
ROCE 0.39%
ROIC 0.31%
ROICexc 0.33%
ROICexgc 8.13%
OM 0.9%
PM (TTM) N/A
GM 60.33%
FCFM 10.18%
ROA(3y)-4.42%
ROA(5y)-4.85%
ROE(3y)-5.85%
ROE(5y)-6.34%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.42%
GM growth 5Y2.3%
F-Score5
Asset Turnover0.38
Health
Industry RankSector Rank
Debt/Equity 0.24
Debt/FCF 4.27
Debt/EBITDA 5.33
Cap/Depr 17.51%
Cap/Sales 1.26%
Interest Coverage 0.33
Cash Conversion 141.25%
Profit Quality N/A
Current Ratio 1.01
Quick Ratio 1.01
Altman-Z 2.27
F-Score5
WACC10.87%
ROIC/WACC0.03
Cap/Depr(3y)23.11%
Cap/Depr(5y)36.46%
Cap/Sales(3y)1.95%
Cap/Sales(5y)2%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%47.62%
EPS Next Y40%
EPS Next 2Y25.88%
EPS Next 3Y24.36%
EPS Next 5YN/A
Revenue 1Y (TTM)12.14%
Revenue growth 3Y25.44%
Revenue growth 5Y31.37%
Sales Q2Q%9.63%
Revenue Next Year9.78%
Revenue Next 2Y8.82%
Revenue Next 3Y9.18%
Revenue Next 5YN/A
EBIT growth 1Y134.89%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year38.54%
EBIT Next 3Y27.19%
EBIT Next 5YN/A
FCF growth 1Y210.58%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y147.48%
OCF growth 3YN/A
OCF growth 5YN/A

NCINO INC / NCNO FAQ

What is the ChartMill fundamental rating of NCINO INC (NCNO) stock?

ChartMill assigns a fundamental rating of 4 / 10 to NCNO.


What is the valuation status for NCNO stock?

ChartMill assigns a valuation rating of 6 / 10 to NCINO INC (NCNO). This can be considered as Fairly Valued.


What is the profitability of NCNO stock?

NCINO INC (NCNO) has a profitability rating of 3 / 10.


How financially healthy is NCINO INC?

The financial health rating of NCINO INC (NCNO) is 3 / 10.


What is the earnings growth outlook for NCINO INC?

The Earnings per Share (EPS) of NCINO INC (NCNO) is expected to grow by 40% in the next year.