Netcapital (NCPL) Gross Margin (2013 - 2026)
Netcapital (NCPL) posted Gross Margin of 98.07% for Q1 2026, up 1.81% sequentially from 96.33% in Q4 2025, and up 275.0% YoY from 26.15% in Q1 2025.
Netcapital (NCPL) Gross Margin (2013 - 2026) Analysis & Trends
Netcapital has reported Gross Margin for 14 years, with the latest figure at 98.07% in Q1 2026.
- Quarterly Gross Margin rose 275.0% year-over-year to 98.07% in Q1 2026, while the trailing twelve-month figure through Jan 2026 was 98.07% (up 399.0% YoY) and the FY2025 annual result came in at 95.36%, down 246.0% from the prior year.
- Gross Margin rose to 98.07% in Q1 2026 per NCPL's latest filing, from 96.33% in the prior quarter.
- Over five years, Gross Margin peaked at 99.81% in Q1 2023 and troughed at 88.4% in Q4 2024.
- A 5-year average of 96.89% and a median of 97.96% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin tumbled 1061 bps in 2024, then soared 792 bps in 2025.
- Over 5 years, Gross Margin stood at 97.96% in 2022, then climbed by 1 bps to 99.01% in 2023, then dropped by 11 bps to 88.4% in 2024, then climbed by 9 bps to 96.33% in 2025, then gained by 2 bps to 98.07% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 98.07%, 96.33%, and 96.1% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | - |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | - |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | - |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 92.05% |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | - |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | - |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | - |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 41.19% |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 88.68% |
| 10 | Netcapital | 1.49 Mn | 771,270.10 | 92,524.00 | 98.07% |
Historic Data
Download 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% |