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FISCALNOTE HOLDINGS INC (NOTE) Stock Fundamental Analysis

NYSE:NOTE - New York Stock Exchange, Inc. - US3376551046 - Common Stock - Currency: USD

0.7133  +0.06 (+9.72%)

Premarket: 0.7135 +0 (+0.03%)

Fundamental Rating

2

Overall NOTE gets a fundamental rating of 2 out of 10. We evaluated NOTE against 82 industry peers in the Professional Services industry. Both the profitability and financial health of NOTE have multiple concerns. NOTE does not seem to be growing, but still is valued expensively.


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.
In the past 5 years NOTE reported 4 times negative net income.
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 -15.13%, NOTE is not doing good in the industry: 80.49% of the companies in the same industry are doing better.
NOTE has a worse Return On Equity (-44.70%) than 80.49% of its industry peers.
Industry RankSector Rank
ROA -15.13%
ROE -44.7%
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

The Gross Margin of NOTE (86.54%) is better than 95.12% of its industry peers.
In the last couple of years the Gross Margin of NOTE has grown nicely.
NOTE does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 86.54%
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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2

2. Health

2.1 Basic Checks

NOTE does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, NOTE has more shares outstanding
Compared to 1 year ago, NOTE has an improved debt to assets ratio.
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

NOTE has an Altman-Z score of -3.38. This is a bad value and indicates that NOTE is not financially healthy and even has some risk of bankruptcy.
NOTE has a worse Altman-Z score (-3.38) than 90.24% of its industry peers.
A Debt/Equity ratio of 1.16 is on the high side and indicates that NOTE has dependencies on debt financing.
NOTE has a worse Debt to Equity ratio (1.16) than 76.83% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF N/A
Altman-Z -3.38
ROIC/WACCN/A
WACC9.11%
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

NOTE has a Current Ratio of 1.28. This is a normal value and indicates that NOTE is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.28, NOTE is in line with its industry, outperforming 45.12% of the companies in the same industry.
A Quick Ratio of 1.28 indicates that NOTE should not have too much problems paying its short term obligations.
NOTE has a Quick ratio of 1.28. This is comparable to the rest of the industry: NOTE outperforms 45.12% of its industry peers.
Industry RankSector Rank
Current Ratio 1.28
Quick Ratio 1.28
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

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 15.79% over the past year.
The Revenue for NOTE has decreased by -13.18% in the past year. This is quite bad
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)15.79%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-105.71%
Revenue 1Y (TTM)-13.18%
Revenue growth 3Y13.2%
Revenue growth 5YN/A
Sales Q2Q%-14.33%

3.2 Future

Based on estimates for the next years, NOTE will show a very negative growth in Earnings Per Share. The EPS will decrease by -165.69% on average per year.
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-589.6%
EPS Next 2Y-165.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-18.84%
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

NOTE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year NOTE is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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 20 30

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 0.5 -0.5

4.3 Compensation for Growth

A cheap valuation may be justified as NOTE's earnings are expected to decrease with -165.69% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-165.69%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for NOTE!.
Industry RankSector Rank
Dividend Yield N/A

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FISCALNOTE HOLDINGS INC

NYSE:NOTE (7/18/2025, 8:04:01 PM)

Premarket: 0.7135 +0 (+0.03%)

0.7133

+0.06 (+9.72%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)05-12 2025-05-12/amc
Earnings (Next)08-07 2025-08-07/bmo
Inst Owners37.23%
Inst Owner Change0.02%
Ins Owners12.91%
Ins Owner Change32.94%
Market Cap112.86M
Analysts83.64
Price Target2.91 (307.96%)
Short Float %10.52%
Short Ratio5.79
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)38.19%
Min EPS beat(2)-0.55%
Max EPS beat(2)76.93%
EPS beat(4)2
Avg EPS beat(4)24.24%
Min EPS beat(4)-11.56%
Max EPS beat(4)76.93%
EPS beat(8)4
Avg EPS beat(8)26.01%
EPS beat(12)5
Avg EPS beat(12)-139.85%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.83%
Min Revenue beat(2)-0.41%
Max Revenue beat(2)2.07%
Revenue beat(4)1
Avg Revenue beat(4)-0.07%
Min Revenue beat(4)-1.44%
Max Revenue beat(4)2.07%
Revenue beat(8)2
Avg Revenue beat(8)-1.03%
Revenue beat(12)2
Avg Revenue beat(12)-2.89%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-2.98%
EPS NQ rev (1m)0%
EPS NQ rev (3m)7.5%
EPS NY rev (1m)0%
EPS NY rev (3m)20.66%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.99%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.84%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.98
P/FCF N/A
P/OCF N/A
P/B 1.11
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-0.32
EYN/A
EPS(NY)-0.25
Fwd EYN/A
FCF(TTM)-0.09
FCFYN/A
OCF(TTM)-0.03
OCFYN/A
SpS0.73
BVpS0.64
TBVpS-0.7
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -15.13%
ROE -44.7%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 86.54%
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 Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 44.6%
Cap/Sales 7.93%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.28
Quick Ratio 1.28
Altman-Z -3.38
F-Score5
WACC9.11%
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)15.79%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-105.71%
EPS Next Y-589.6%
EPS Next 2Y-165.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-13.18%
Revenue growth 3Y13.2%
Revenue growth 5YN/A
Sales Q2Q%-14.33%
Revenue Next Year-18.84%
Revenue Next 2Y7.03%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y41.24%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year133.24%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y83.87%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y93.68%
OCF growth 3YN/A
OCF growth 5YN/A