Ncino, Inc.

Technology
Computer Software: Prepackaged Software
www.ncino.com

Moat Score

Market Cap $4.30B
PE -240
Debt $NaN
Cash $258.25M
EV $NaN
FCF $71.47M

Earnings

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Sales & Net Margins

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Earnings	-$17.89M
EBIT	-$15.58M
ROE	-2%
ROA	-1%
FCF	$71.47M
Equity	$1.09B
Growth Stability	1
PE	-240.36
PB	3.95
P/FCF	60.18
P/S	8.22
Price/Cash	0.06
Net Margins	-5%
Gross Margins	60%
Op. Margins	-3%
Sales Growth YoY	14%
Sales Growth QoQ	5%
Sales CAGR	25%
FCF CAGR	17%
Equity CAGR	41%
Earnings Growth YoY	-69%

Earnings Growth QoQ	-52%
Sales CAGR 5Y	25%
FCF CAGR 5Y	17%
Equity CAGR 5Y	41%
Earnings CAGR 3Y	25%
Sales CAGR 3Y	25%
FCF CAGR 3Y	104%
Equity CAGR 3Y	1%
Market Cap	$4.30B
Revenue	$522.98M
Assets	$1.52B
Cash	$258.25M
Shares Outstanding	114.97M
Moat Score	11%
Working Capital	169.73M
Current Ratio	1.95
Gross Profit	$314.91M
Shares Growth 3y	4%
Equity Growth QoQ	1%
Equity Growth YoY	6%

Assets & ROA

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Stockholders Equity & ROE

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Ncino Inc is a provider of cloud-based software for financial institutions. Its software solution digitizes, automates, and streamlines inefficient and complex processes & workflow and utilizes data analytics & artificial intelligence that enables financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, open deposit, and other accounts and manage regulatory compliance. It also offers professional services, including configuration & implementation, training, and advisory services. Ncino generates the majority of its revenue from subscription services. The company caters to global financial institutions, enterprise banks, regional banks, community banks, and credit unions. The vast majority of its revenue comes from the United States.

SEC Filings

Direct access to Ncino, Inc. (NCNO) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-K Jan 31
2023
- 10-Q Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-K Jan 31
2022
- 10-Q Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-K Jan 31

Sector Comparison

How does Ncino, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ncino, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Ncino, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Ncino, Inc..

Years

Calculation mode

= $2.4B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$71M	$84M	$98M	$115M	$134M	$157M	$184M	$215M	$252M	$295M	$345M	$3.4B
DCF		$76M	$81M	$86M	$92M	$97M	$104M	$110M	$117M	$125M	$133M	$1.3B
Value	$2.4B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	01/2020	01/2021	01/2022	01/2023	01/2024	TTM
Net Margins	-20%	-20%	-18%	-25%	-9%	-5%
ROA	-	-	-5%	-7%	-3%	-1%
ROE	-	-	-5%	-10%	-4%	-2%

Bad Net Margins (-4.83%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	01/2020	01/2021	01/2022	01/2023	01/2024	TTM
Debt over FCF	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	01/2020	01/2021	01/2022	01/2023	01/2024	CAGR 5Y
Revenue YoY growth	-	48%	34%	49%	17%	25%
Earnings YoY growth	-	49%	21%	105%	-58%	-
Equity YoY growth	-	154%	151%	-4%	2%	41%
FCF YoY growth	-	-133%	-606%	37%	-259%	17%