SequelSEC

Northann Corp. NCL

Plastics Products, NEC · CIK 0001923780 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$13.00M
Fiscal year ended 2025-09-30
Operating income
-$14.91M
Fiscal year ended 2025-09-30
Free cash flow
Unavailable
Fiscal year ended 2025-09-30

Valuation, from the filing

Public float$2.34MMarket value of stock held by non-affiliates, as stated on the cover page for 2024-06-28
Float / revenue0.2×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.9×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2024-06-28, not today, and each multiple below it uses the figures for the fiscal year ending 2024-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Plastics Products, NEC filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Current ratio0.61x0th
Net margin-28.5%0th
Operating margin-10.9%0th
SBC / revenue13.3%100th
Gross margin25.9%14th
R&D / revenue5.1%80th
Revenue YoY growth9.9%75th

Northann Corp. (NCL) reported revenue of $13.00M and net income of -$17.63M for the fiscal year ended 2025-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Northann Corp.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Plastics Products, NEC.

Income

Northann Corp. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-09-30
Revenue$13.00M
Cost of revenue$15.05M
Gross profit-$2.06M
Operating income-$14.91M
Net income-$17.63M
Research & development$518.88K
Weighted-average diluted sharesUnavailable
Pretax income-$17.63M
Income tax expense-$1.06K
Diluted EPSUnavailable
Selling, general & administrativeUnavailable
General & administrative$4.20M
Selling & marketingUnavailable

Balance

Northann Corp. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-09-30
Cash & equivalents$40.88K
Total assets$14.95M
Current assets$6.57M
Total liabilities$13.11M
Current liabilities$9.00M
Total equity incl. NCI$1.84M
Temporary (mezzanine) equityUnavailable
Inventory$3.48M
Accounts receivable$2.46M
GoodwillUnavailable
Long-term debtUnavailable
Accounts payableUnavailable

Cash flow

Northann Corp. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-09-30
Operating cash flow-$5.42M
Capital expendituresUnavailable
Investing cash flow-$966.14K
Financing cash flow$3.67M
Net change in cash-$46.86K
Stock-based compensation$8.02M
Common dividends paidUnavailable
Common share repurchasesUnavailable
Depreciation & amortization$638.32K

Derived

Northann Corp. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-09-30
Free cash flowUnavailable
Gross margin-15.8%
Operating margin-114.7%
FCF marginUnavailable
SBC / revenue61.7%
Current ratio0.73x
Revenue YoY growth-16.6%
Net margin-135.6%
R&D / revenue4.0%
CapEx / revenueUnavailable
Long-term debt / equityUnavailable
Effective tax rateUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open NCL in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-05-19View SEC filing
10-Q · Filed 2025-11-14View SEC filing
10-Q · Filed 2025-08-19View SEC filing
10-Q · Filed 2025-07-18View SEC filing
10-K/A · Filed 2025-07-02View SEC filing
10-K · Filed 2025-07-01View SEC filing

Companies in the same industry

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.