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FISCALNOTE HOLDINGS INC (NOTE) Stock Fundamental Analysis

NYSE:NOTE - US3376551046 - Common Stock

4 USD
-0.61 (-13.23%)
Last: 9/4/2025, 8:25:31 PM
3.88 USD
-0.12 (-3%)
After Hours: 9/4/2025, 8:25:31 PM
Fundamental Rating

1

Overall NOTE gets a fundamental rating of 1 out of 10. We evaluated NOTE against 83 industry peers in the Professional Services industry. Both the profitability and financial health of NOTE have multiple concerns. NOTE is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year NOTE has reported negative net income.
In the past year NOTE has reported a negative cash flow from operations.
NOTE had negative earnings in 4 of the past 5 years.
NOTE had a negative operating cash flow in each of the past 5 years.
NOTE Yearly Net Income VS EBIT VS OCF VS FCFNOTE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 -100M -200M -300M

1.2 Ratios

With a Return On Assets value of -15.90%, NOTE is not doing good in the industry: 80.72% of the companies in the same industry are doing better.
NOTE has a Return On Equity of -46.86%. This is in the lower half of the industry: NOTE underperforms 79.52% of its industry peers.
Industry RankSector Rank
ROA -15.9%
ROE -46.86%
ROIC N/A
ROA(3y)-28.25%
ROA(5y)-39.12%
ROE(3y)-141.72%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
NOTE Yearly ROA, ROE, ROICNOTE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 500 -500 -1K

1.3 Margins

NOTE has a Gross Margin of 86.88%. This is amongst the best in the industry. NOTE outperforms 93.98% of its industry peers.
In the last couple of years the Gross Margin of NOTE has grown nicely.
The Profit Margin and Operating Margin are not available for NOTE so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 86.88%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.09%
GM growth 5YN/A
NOTE Yearly Profit, Operating, Gross MarginsNOTE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 -100 -200 -300

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1

2. Health

2.1 Basic Checks

NOTE does not have a ROIC to compare to the WACC, probably because it is not profitable.
NOTE has more shares outstanding than it did 1 year ago.
NOTE has a better debt/assets ratio than last year.
NOTE Yearly Shares OutstandingNOTE Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M
NOTE Yearly Total Debt VS Total AssetsNOTE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.2 Solvency

Based on the Altman-Z score of -1.79, we must say that NOTE is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of -1.79, NOTE is not doing good in the industry: 86.75% of the companies in the same industry are doing better.
NOTE has a Debt/Equity ratio of 1.19. This is a high value indicating a heavy dependency on external financing.
NOTE has a worse Debt to Equity ratio (1.19) than 75.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.19
Debt/FCF N/A
Altman-Z -1.79
ROIC/WACCN/A
WACC8.36%
NOTE Yearly LT Debt VS Equity VS FCFNOTE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 100M 200M 300M

2.3 Liquidity

A Current Ratio of 1.25 indicates that NOTE should not have too much problems paying its short term obligations.
The Current ratio of NOTE (1.25) is worse than 60.24% of its industry peers.
A Quick Ratio of 1.25 indicates that NOTE should not have too much problems paying its short term obligations.
NOTE has a worse Quick ratio (1.25) than 60.24% of its industry peers.
Industry RankSector Rank
Current Ratio 1.25
Quick Ratio 1.25
NOTE Yearly Current Assets VS Current LiabilitesNOTE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 20M 40M 60M 80M

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3. Growth

3.1 Past

NOTE shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -29.17%.
Looking at the last year, NOTE shows a very negative growth in Revenue. The Revenue has decreased by -15.39% in the last year.
Measured over the past years, NOTE shows a quite strong growth in Revenue. The Revenue has been growing by 13.20% on average per year.
EPS 1Y (TTM)-29.17%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.11%
Revenue 1Y (TTM)-15.39%
Revenue growth 3Y13.2%
Revenue growth 5YN/A
Sales Q2Q%-20.45%

3.2 Future

NOTE is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -160.65% yearly.
NOTE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.03% yearly.
EPS Next Y-584.5%
EPS Next 2Y-160.65%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-19.48%
Revenue Next 2Y7.03%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NOTE Yearly Revenue VS EstimatesNOTE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
NOTE Yearly EPS VS EstimatesNOTE Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 0 -1 -2 -3 -4

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0

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for NOTE. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for NOTE. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
NOTE Price Earnings VS Forward Price EarningsNOTE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
NOTE Per share dataNOTE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.2 -0.2 0.4 -0.4 0.6 -0.6

4.3 Compensation for Growth

NOTE's earnings are expected to decrease with -160.65% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-160.65%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

NOTE does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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FISCALNOTE HOLDINGS INC

NYSE:NOTE (9/4/2025, 8:25:31 PM)

After market: 3.88 -0.12 (-3%)

4

-0.61 (-13.23%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)08-07 2025-08-07/amc
Earnings (Next)11-10 2025-11-10/bmo
Inst Owners37.83%
Inst Owner Change-4.57%
Ins Owners10.83%
Ins Owner Change10.56%
Market Cap688.80M
Analysts83.64
Price TargetN/A
Short Float %N/A
Short Ratio4.73
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)1
Avg EPS beat(2)35.47%
Min EPS beat(2)-5.99%
Max EPS beat(2)76.93%
EPS beat(4)1
Avg EPS beat(4)14.71%
Min EPS beat(4)-11.56%
Max EPS beat(4)76.93%
EPS beat(8)4
Avg EPS beat(8)35.02%
EPS beat(12)5
Avg EPS beat(12)-74.05%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.99%
Min Revenue beat(2)-0.09%
Max Revenue beat(2)2.07%
Revenue beat(4)1
Avg Revenue beat(4)0.27%
Min Revenue beat(4)-0.49%
Max Revenue beat(4)2.07%
Revenue beat(8)2
Avg Revenue beat(8)-0.69%
Revenue beat(12)2
Avg Revenue beat(12)-2.18%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-2.98%
EPS NQ rev (1m)3.57%
EPS NQ rev (3m)20.59%
EPS NY rev (1m)1.04%
EPS NY rev (3m)17.39%
Revenue NQ rev (1m)-2.05%
Revenue NQ rev (3m)-26.97%
Revenue NY rev (1m)-0.8%
Revenue NY rev (3m)-0.67%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 6.28
P/FCF N/A
P/OCF N/A
P/B 7.04
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-0.31
EYN/A
EPS(NY)-0.24
Fwd EYN/A
FCF(TTM)-0.09
FCFYN/A
OCF(TTM)-0.04
OCFYN/A
SpS0.64
BVpS0.57
TBVpS-0.65
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -15.9%
ROE -46.86%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 86.88%
FCFM N/A
ROA(3y)-28.25%
ROA(5y)-39.12%
ROE(3y)-141.72%
ROE(5y)N/A
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
ROICexcg growth 3YN/A
ROICexcg 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 3Y2.09%
GM growth 5YN/A
F-Score5
Asset Turnover0.38
Health
Industry RankSector Rank
Debt/Equity 1.19
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 41.05%
Cap/Sales 7.23%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.25
Quick Ratio 1.25
Altman-Z -1.79
F-Score5
WACC8.36%
ROIC/WACCN/A
Cap/Depr(3y)42.35%
Cap/Depr(5y)41.75%
Cap/Sales(3y)7.79%
Cap/Sales(5y)7.7%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-29.17%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.11%
EPS Next Y-584.5%
EPS Next 2Y-160.65%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-15.39%
Revenue growth 3Y13.2%
Revenue growth 5YN/A
Sales Q2Q%-20.45%
Revenue Next Year-19.48%
Revenue Next 2Y7.03%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y31.88%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year133.24%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y81.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y90.33%
OCF growth 3YN/A
OCF growth 5YN/A