Netcapital (NCPL) Gross Margin (2013 - 2026)
Netcapital (NCPL) reported Gross Margin of 98.07% for fiscal Q3 2026 (quarter ended Jan 31, 2026), up 2.75 percentage points from 95.31% a year earlier and up 1.74 percentage points from the prior quarter.
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Analysis
Netcapital (NCPL) Gross Margin (2013 - 2026) Analysis & Trends
For FY2025 (ended Apr 30, 2025), Netcapital posted Gross Margin of 95.36%, down 2.46 percentage points from FY2024.
- Gross Margin has a five-year change of -4.01 percentage points (FY2020 to FY2025).
- By fiscal year, Gross Margin came in at 97.82% in FY2024 (-1.18 pp), 99.00% in FY2023 (+1.01 pp), 97.99% in FY2022 (+14.07 pp) and 83.92% in FY2021 (-15.45 pp).
- Five-year quarterly Gross Margin spans a low of 88.40% in fiscal Q2 2025 and a high of 99.81% in fiscal Q3 2023.
- Year over year, Gross Margin has now increased in each of the last five quarters, with an average year-over-year change of -0.22 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was fiscal Q2 2022 (a gain of 37.25 percentage points); the low point was fiscal Q2 2025 (a drop of 10.61 percentage points).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at 96.33% (Q2 2026), 96.10% (Q1 2026) and 99.21% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - | - |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - | - |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - | - |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn | 59.24% |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - | - |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn | 50.71% |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - | - |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - | - |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn | 41.19% |
| 10 | Netcapital | 11.31 Mn | 11.31 Mn | 92,524.00 | 98.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jan 31, 2026 | 98.07% |
| Oct 31, 2025 | 96.33% |
| Jul 31, 2025 | 96.10% |
| Apr 30, 2025 | 99.21% |
| Jan 31, 2025 | 95.31% |
| Oct 31, 2024 | 88.40% |
| Jul 31, 2024 | 92.81% |
| Apr 30, 2024 | 96.83% |
| Jan 31, 2024 | 94.35% |
| Oct 31, 2023 | 99.01% |
| Jul 31, 2023 | 98.81% |
| Apr 30, 2023 | 99.25% |
| Jan 31, 2023 | 99.81% |
| Oct 31, 2022 | 97.96% |
| Jul 31, 2022 | 98.43% |
| Apr 30, 2022 | 98.66% |
| Jan 31, 2022 | 97.83% |
| Oct 31, 2021 | 98.52% |
| Jul 31, 2021 | 95.47% |
| Apr 30, 2021 | 96.97% |
API Access
Netcapital Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=NCPL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "NCPL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=NCPL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();