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NCS Multistage Holdings, Inc. (NCSM) Annual Reports

Q: Where can I read NCS Multistage Holdings, Inc. (NCSM) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

NCS Multistage Holdings, Inc. is listed on Nasdaq, classified by the SEC under Oil & Gas Field Services, NEC (SIC 1389). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1692427 →

Website：Official site ↗

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Revenue	$38.4M	$36.5M	+5.2%
Operating income	$-5.6M	$-2.0M	-176.0%
Net income	$-4.6M	$924,000	-598.5%
EPS (diluted)	$-1.71	$0.34	-602.9%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 38.4 mn Net income -4.61 mn

Show table：Income statement

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	114	23.1	11.3	28.6	35.4	58.6	36.9	56.0	50.2	70.7	43.4	62.7	50.2	52.9	39.8	60.8	52.1	54.5	8.73	16.3	27.4	28.5	21.5	32.4	36.1	39.1	27.5	48.9	40.2	43.5	25.4	38.3	35.3	43.9	29.7	44.0	45.0	50.0	36.5	46.5	50.6	45.6	38.4
Gross profit	—	—	—	—	—	—	—	—	—	36.4	22.8	33.1	23.3	25.1	15.7	27.6	25.1	22.9	1.70	5.60	11.1	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	-5.78	-4.27	-10.2	-1.02	-2.53	9.92	-5.61	5.25	-4.60	13.0	-3.29	11.9	-228	0.44	-16.8	5.51	1.32	-49.7	-14.2	-7.47	-0.06	-3.65	-5.39	2.64	1.28	-2.20	-5.91	4.05	1.81	1.28	-7.13	1.87	-1.55	2.50	-4.15	3.04	2.94	4.29	-2.03	3.06	5.22	0.85	-5.60
Net income	28.0	-8.13	-8.59	-0.28	-0.93	6.55	-4.49	3.39	-3.34	11.0	-4.05	6.32	-204	-12.0	-22.3	3.62	-2.18	-51.5	-8.76	-5.86	8.57	-3.40	-5.79	2.80	1.66	-1.53	-5.48	3.94	1.98	-15.0	-32.2	4.41	39.6	2.07	-3.09	4.15	3.47	4.06	0.92	3.81	15.0	-0.37	-4.61

Balance sheet

Quarterly · In mn (USD)

Total assets 178 mn Total liabilities 36.8 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	—	—	—	—	75.0	76.1	142	115	118	118	114	127	115	109	98.2	110	101	104	91.2	73.0	83.7	80.6	77.6	83.3	88.5	85.7	79.7	85.4	87.7	91.2	85.3	90.1	103	92.9	91.8	99.5	106	109	111	111	122	117	117
Total assets	—	—	—	—	327	351	417	469	464	456	448	466	230	223	204	213	203	153	144	125	139	134	132	139	142	138	133	137	139	141	137	142	152	141	139	146	153	155	158	162	181	175	178
Current liabilities	—	—	—	—	17.5	21.8	24.2	34.7	31.7	31.9	30.6	32.5	25.6	20.1	21.6	28.5	19.8	19.3	13.0	12.8	14.9	14.5	15.9	17.8	19.8	16.9	17.1	20.1	17.7	17.7	18.2	19.8	32.1	19.2	19.9	22.1	25.4	23.9	23.8	25.4	28.5	21.9	27.5
Total liabilities	—	—	—	—	149	153	66.6	96.4	94.9	78.8	74.5	77.7	53.5	52.2	48.0	51.2	39.0	43.5	40.0	24.6	25.2	24.4	26.7	30.2	31.7	28.5	28.7	31.7	29.3	46.7	73.3	73.0	42.6	29.4	30.3	31.7	36.7	34.3	34.0	34.9	38.1	30.8	36.8
Equity	187	—	—	—	177	186	338	360	357	364	359	373	161	154	137	143	145	90.6	85.2	81.7	93.6	91.5	87.3	90.1	92.6	92.0	86.1	87.5	91.0	76.6	45.9	50.6	91.6	93.7	91.0	96.0	98.8	103	106	110	126	125	120

Cash flow

Quarterly · In mn (USD)

Operating -1.92 mn Investing -0.45 mn Financing -0.6 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	4.37	5.18	5.71	-3.75	3.55	2.56	4.48	-4.17	13.3	-8.30	15.8	0.12	6.41	-3.01	9.08	-1.26	13.1	3.61	16.5	-5.64	20.6	-1.81	2.91	5.63	4.86	-6.10	0.9	-3.84	7.61	-1.55	0.51	-0.4	6.22	-1.88	5.98	-2.02	10.6	-1.64	3.52	7.17	13.1	1.28	-1.92
Investing	-1.22	0.15	-0.24	-1.12	-0.64	-6.38	-2.35	-76.3	-0.14	-1.07	-2.48	-6.09	-5.77	-2.83	-1.30	-0.3	-0.58	-0.44	-0.18	-0.56	0.12	-0.06	-0.25	0.02	-0.15	-0.14	-0.16	-0.14	-0.26	-0.48	-0.5	-0.53	-0.17	-0.14	-0.26	-0.34	1.21	-0.45	-0.02	-5.59	-0.23	-0.56	-0.45
Financing	-12.8	0.05	-0.17	0.05	-0.24	-2.38	65.8	20.8	-0.1	-0.04	-2.87	-0.5	-1.72	-7.67	-7.68	-5.89	-6.05	1.37	-0.41	-16.7	-14.1	-1.73	-0.85	-0.82	-0.86	-0.41	-1.12	-0.86	-0.35	-0.42	0.15	-1.21	-0.96	-0.63	-1.04	-1.01	-1.59	-0.79	-1.45	-1.55	-1.51	-2.94	-0.6
Cash at period end	9.55	15.6	20.9	16.1	18.3	12.0	80.0	20.2	33.8	23.7	33.5	27.4	25.1	12.0	12.2	4.52	11.2	15.5	31.3	8.64	15.6	12.0	13.9	18.4	22.2	15.5	14.9	9.88	16.2	13.6	13.8	11.4	16.7	14.0	18.6	15.3	25.9	23.0	25.4	25.3	36.7	34.5	31.3

Profitability

Quarterly · %

Gross margin 40.6% Operating margin -14.6% Net margin -12.0%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Gross margin	—	—	—	—	—	—	—	—	—	51.5%	52.4%	52.8%	46.5%	47.6%	39.4%	45.4%	48.2%	42.0%	19.4%	34.3%	40.6%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	-5.1%	-18.5%	-90.1%	-3.5%	-7.1%	16.9%	-15.2%	9.4%	-9.2%	18.4%	-7.6%	19.1%	-454.9%	0.8%	-42.1%	9.1%	2.5%	-91.1%	-163.0%	-45.8%	-0.2%	-12.8%	-25.1%	8.2%	3.5%	-5.6%	-21.5%	8.3%	4.5%	2.9%	-28.1%	4.9%	-4.4%	5.7%	-14.0%	6.9%	6.5%	8.6%	-5.6%	6.6%	10.3%	1.9%	-14.6%
Net margin	24.6%	-35.2%	-76.2%	-1.0%	-2.6%	11.2%	-12.2%	6.0%	-6.7%	15.5%	-9.3%	10.1%	-405.6%	-22.6%	-56.1%	6.0%	-4.2%	-94.5%	-100.3%	-35.9%	31.3%	-11.9%	-27.0%	8.6%	4.6%	-3.9%	-20.0%	8.1%	4.9%	-34.4%	-126.9%	11.5%	112.5%	4.7%	-10.4%	9.4%	7.7%	8.1%	2.5%	8.2%	29.6%	-0.8%	-12.0%

Returns & leverage

Quarterly · %

ROE 12.2% ROA 8.2% Debt ratio 20.7%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	—	-9.8%	-1.8%	0.3%	1.3%	0.8%	2.4%	2.0%	2.7%	-73.5%	-82.3%	-93.4%	-90.9%	-21.5%	-59.1%	-53.1%	-61.0%	-48.4%	-10.4%	-7.5%	2.5%	-5.1%	-3.1%	-3.0%	-1.6%	-1.2%	-17.2%	-62.6%	-59.1%	-3.5%	16.3%	62.9%	58.3%	6.9%	8.7%	12.8%	11.9%	21.1%	16.9%	12.2%
ROA	—	—	—	—	-5.5%	-0.9%	0.2%	1.0%	0.5%	1.6%	1.6%	2.1%	-54.9%	-62.8%	-71.0%	-69.0%	-15.2%	-38.6%	-33.9%	-40.5%	-33.8%	-6.6%	-4.7%	1.6%	-3.4%	-2.1%	-1.9%	-1.0%	-0.8%	-10.4%	-30.6%	-29.3%	-2.2%	9.8%	31.1%	29.7%	4.3%	5.8%	8.5%	8.0%	14.2%	11.7%	8.2%
Debt ratio	—	—	—	—	45.7%	43.4%	16.0%	20.6%	20.5%	17.3%	16.6%	16.7%	23.3%	23.4%	23.6%	24.0%	19.3%	28.5%	27.9%	19.7%	18.2%	18.1%	20.2%	21.8%	22.2%	20.6%	21.6%	23.1%	21.2%	33.0%	53.3%	51.5%	28.1%	20.9%	21.8%	21.8%	24.0%	22.1%	21.5%	21.6%	21.0%	17.6%	20.7%

EPS

Quarterly · US$

EPS US$-1.71

Show table：EPS

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	0.86	-0.24	-0.25	-0.01	-0.03	0.18	-0.11	0.07	-0.08	0.23	-0.09	0.13	-4.51	-0.26	-0.48	0.08	-0.05	-1.10	-0.19	-0.12	3.59	-1.43	-2.41	1.14	0.69	-0.64	-2.25	1.58	0.82	-6.10	-13.02	1.77	16.06	0.82	-1.21	1.60	1.34	1.51	0.34	1.37	5.43	-0.14	-1.71

Revenue & profit

Year-to-date · In mn (USD)

Revenue 84.0 mn Net income -4.98 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 178 mn Total liabilities 36.8 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating -0.64 mn Investing -1.01 mn Financing -3.54 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 38.6% Operating margin -5.7% Net margin -5.9%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 12.2% ROA 8.2% Debt ratio 20.7%

EPS

Year-to-date · US$

EPS US$-1.85

Revenue & profit

Annual · In mn (USD)

Revenue 184 mn Net income 23.8 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	98.5	202	227	205	107	119	156	142	163	184
Gross profit	—	—	116	93.5	41.4	—	—	—	—	—
Operating income	-18.0	4.96	-207	-9.49	-71.4	-5.12	-2.25	-5.53	4.33	10.5
Net income	-17.9	2.10	-190	-32.8	-57.6	-4.73	-1.10	-3.15	6.59	23.8

Balance sheet

Annual · In mn (USD)

Total assets 181 mn Total liabilities 38.1 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Current assets	75.0	118	115	101	83.7	88.5	87.7	103	106	122
Total assets	327	464	230	203	139	142	139	152	153	181
Current liabilities	17.5	31.7	25.6	19.8	14.9	19.8	17.7	32.1	25.4	28.5
Total liabilities	149	94.9	53.5	39.0	25.2	31.7	29.3	42.6	36.7	38.1
Equity	177	357	161	145	93.6	92.6	91.0	91.6	98.8	126

Cash flow

Annual · In mn (USD)

Operating 22.2 mn Investing -6.29 mn Financing -5.30 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating	10.7	16.1	14.0	17.9	35.1	11.6	-1.42	4.77	12.7	22.2
Investing	-1.84	-85.2	-15.4	-5.00	-1.06	-0.44	-0.7	-1.68	0.48	-6.29
Financing	-0.31	84.0	-5.13	-27.3	-29.8	-4.26	-2.74	-2.44	-4.27	-5.30
Cash at period end	18.3	33.8	25.1	11.2	15.6	22.2	16.2	16.7	25.9	36.7

Profitability

Annual · %

Gross margin 38.6% Operating margin 5.7% Net margin 12.9%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Gross margin	—	—	50.9%	45.5%	38.6%	—	—	—	—	—
Operating margin	-18.3%	2.5%	-91.1%	-4.6%	-66.8%	-4.3%	-1.4%	-3.9%	2.7%	5.7%
Net margin	-18.2%	1.0%	-83.8%	-16.0%	-53.8%	-4.0%	-0.7%	-2.2%	4.1%	12.9%

Returns & leverage

Annual · %

ROE 21.1% ROA 14.2% Debt ratio 21.0%

Show table：Returns & leverage

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	-10.1%	0.8%	-73.5%	-21.5%	-48.4%	-5.1%	-1.2%	-3.5%	6.9%	21.1%
ROA	-5.5%	0.5%	-54.9%	-15.2%	-33.8%	-3.4%	-0.8%	-2.2%	4.3%	14.2%
Debt ratio	45.7%	20.5%	23.3%	19.3%	18.2%	22.2%	21.2%	28.1%	24.0%	21.0%

EPS

Annual · US$

EPS US$8.65

Show table：EPS

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	-0.53	0.06	-4.24	-0.71	2.18	-2.01	-0.49	-1.29	2.55	8.65

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read NCS Multistage Holdings, Inc. (NCSM) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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