Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to €45.40, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 10x in the Energy Services industry in Europe. Total returns to shareholders of 199% over the past three years. Annonce • Jun 02
Weatherford International plc (NasdaqGS:WFRD) entered into a definitive agreement to acquire NCS Multistage Holdings, Inc. (NasdaqCM:NCSM) for approximately $180 million. Weatherford International plc (NasdaqGS:WFRD) entered into a definitive agreement to acquire NCS Multistage Holdings, Inc. (NasdaqCM:NCSM) for for approximately $180 million on May 31, 2026. Under the terms of the agreement, NCS Multistage stockholders can elect to receive either 0.554 shares of Weatherford common stock at closing, or a combination of 0.239 shares of Weatherford common stock and a cash amount equal to 0.137 shares of Weatherford common stock at closing, subject to proration and certain limitations and adjustments. A $9.7 million is payable by Weatherford to NCS if the deal terminates due to a breach by Weatherford and a $5.5 million is payable by NCS to Weatherford if NCS terminates the deal for a superior proposal or changes its recommendation.
The transaction has been unanimously approved by the Board of Directors of Weatherford, the Board of Directors of NCS Multistage, and the controlling stockholder of NCS Multistage that owns more than 50% of NCS Multistage’s outstanding common stock. The transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2026. The deal is expected to be immediately accretive to adjusted Free Cash Flow per share.
The team of King & Spalding LLP led by Jonathan Newton, John Sweet and Rob LeClerc acted as legal advisor for Weatherford International plc. The team of Baker Botts L.L.P. led by Jim Marshall, Jamie Yarbrough, Jon Lobb, Jordan Hahn, Ron Aizen and Matthew Adler acted as legal advisor and Piper Sandler & Co. acted as financial advisor and fairness opinion provider for NCS Multistage Holdings, Inc. Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. CEO & Director Ryan Hummer was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 24
NCS Multistage Holdings, Inc. to Report Q1, 2026 Results on Apr 30, 2026 NCS Multistage Holdings, Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 30, 2026 Annonce • Apr 03
NCS Multistage Holdings, Inc., Annual General Meeting, May 27, 2026 NCS Multistage Holdings, Inc., Annual General Meeting, May 27, 2026. Location: 19350 state highway 249, suite 600, houston, texas 77070., United States Annonce • Feb 26
NCS Multistage Holdings, Inc. to Report Q4, 2025 Results on Mar 05, 2026 NCS Multistage Holdings, Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 05, 2026 Annonce • Oct 23
NCS Multistage Holdings, Inc. to Report Q3, 2025 Results on Oct 30, 2025 NCS Multistage Holdings, Inc. announced that they will report Q3, 2025 results on Oct 30, 2025 Annonce • Aug 01
NCS Multistage Holdings, Inc. (NasdaqCM:NCSM) acquired ResMetrics, LLC for $7.2 million. NCS Multistage Holdings, Inc. (NasdaqCM:NCSM) acquired ResMetrics, LLC for $7.2 million on July 31, 2025. The consideration consists of $5.9 million, on a cash-free, debt-free basis, in cash and assumed debt, subject to a working capital adjustment, with an additional earn-out of up to $1.3 million to be paid in early 2026. For the period ending June 30, 2025, ResMetrics, LLC reported total revenue of $10 million.
Shook, Hardy & Bacon L.L.P. acted as legal advisor for NCS Multistage Holdings, Inc. Piper Sandler & Co. acted as financial advisor for ResMetrics, LLC. Winston & Strawn LLP acted as legal advisor for ResMetrics, LLC.
NCS Multistage Holdings, Inc. (NasdaqCM:NCSM) completed the acquisition of ResMetrics, LLC on July 31, 2025. Annonce • Jul 25
NCS Multistage Holdings, Inc. to Report Q2, 2025 Results on Aug 01, 2025 NCS Multistage Holdings, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 01, 2025 Annonce • Apr 25
NCS Multistage Holdings, Inc. to Report Q1, 2025 Results on May 01, 2025 NCS Multistage Holdings, Inc. announced that they will report Q1, 2025 results Pre-Market on May 01, 2025 Annonce • Mar 06
NCS Multistage Holdings, Inc. to Report Q4, 2024 Results on Mar 10, 2025 NCS Multistage Holdings, Inc. announced that they will report Q4, 2024 results on Mar 10, 2025 New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 108% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 108% per year for the foreseeable future. High level of non-cash earnings (46% accrual ratio). Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (€53.0m market cap, or US$56.4m). Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.63 (vs US$1.78 in 3Q 2023) Third quarter 2024 results: EPS: US$1.63 (down from US$1.78 in 3Q 2023). Revenue: US$44.0m (up 15% from 3Q 2023). Net income: US$4.15m (down 5.9% from 3Q 2023). Profit margin: 9.4% (down from 12% in 3Q 2023). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Annonce • Oct 24
NCS Multistage Holdings, Inc. to Report Q3, 2024 Results on Oct 31, 2024 NCS Multistage Holdings, Inc. announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 109% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 109% per year for the foreseeable future. High level of non-cash earnings (49% accrual ratio). Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (€40.7m market cap, or US$44.4m). Reported Earnings • Aug 02
Second quarter 2024 earnings released: US$1.22 loss per share (vs US$13.02 loss in 2Q 2023) Second quarter 2024 results: US$1.22 loss per share (improved from US$13.02 loss in 2Q 2023). Revenue: US$29.7m (up 17% from 2Q 2023). Net loss: US$3.10m (loss narrowed 90% from 2Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 45% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (€40.2m market cap, or US$43.7m). Annonce • Jul 26
NCS Multistage Holdings, Inc. to Report Q2, 2024 Results on Aug 01, 2024 NCS Multistage Holdings, Inc. announced that they will report Q2, 2024 results on Aug 01, 2024 New Risk • May 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 45% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (€41.7m market cap, or US$45.4m). Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$0.82 (vs US$6.11 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.82 (up from US$6.11 loss in 1Q 2023). Revenue: US$43.9m (flat on 1Q 2023). Net income: US$2.07m (up US$17.0m from 1Q 2023). Profit margin: 4.7% (up from net loss in 1Q 2023). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Annonce • May 02
NCS Multistage Holdings, Inc. Provides Earnings Guidance for the Second Quarter of 2024 NCS Multistage Holdings, Inc. provided earnings guidance for the second quarter of 2024. For the second quarter, the company expects revenues to improve sequentially in U.S. and international operations, but decline for Canadian operations, reflecting normal seasonal patterns in that market. The anticipated increases in revenue in the U.S. and international markets is driven by increased frac systems activity in the United States, and increased customer activity in the North Sea and in the Middle East. The company continue to believe the value that they bring to customers across product and service portfolio, together with continued product and service innovation, positions them to outperform the anticipated changes in industry drilling and completion activity, and to increase revenue in 2024 compared to 2023. Annonce • Apr 24
NCS Multistage Holdings, Inc. to Report Q1, 2024 Results on May 02, 2024 NCS Multistage Holdings, Inc. announced that they will report Q1, 2024 results on May 02, 2024 Annonce • Apr 11
NCS Multistage Holdings, Inc., Annual General Meeting, May 23, 2024 NCS Multistage Holdings, Inc., Annual General Meeting, May 23, 2024, at 09:00 Central Standard Time. Location: 19350 State Highway 249, Suite 600 Houston Texas United States Agenda: To elect Michael McShane, Gurinder Grewal and Valerie Mitchell as Class I Directors to serve until our 2027 Annual Meeting of Stockholders and until their respective successors shall have been duly elected and qualified; to ratify the appointment of Grant Thornton LLP as our independent registered public accounting firm for the year ending December 31, 2024; and to approve, on an advisory basis, the compensation of our named executive officers. Reported Earnings • Mar 08
Full year 2023 earnings released: US$1.28 loss per share (vs US$0.45 loss in FY 2022) Full year 2023 results: US$1.28 loss per share (further deteriorated from US$0.45 loss in FY 2022). Revenue: US$142.5m (down 8.5% from FY 2022). Net loss: US$3.15m (loss widened 186% from FY 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Annonce • Mar 02
NCS Multistage Holdings, Inc. to Report Q4, 2023 Results on Mar 08, 2024 NCS Multistage Holdings, Inc. announced that they will report Q4, 2023 results on Mar 08, 2024 Annonce • Dec 15
NCS Multistage Holdings, Inc. Settles Outstanding Commercial Litigation with No Cash Payment By Company NCS Multistage Holdings, Inc. announced that its subsidiary has settled outstanding litigation with Boyd & McWilliams. Under the settlement agreement, that was executed on the preceding day, the insurance carrier will pay all agreed-upon settlement amounts to the plaintiff, resulting in no cash payments by NCS. As of September 30, 2023, the company had accrued a provision for litigation of $40.8 million associated with this matter. The company expects to fully offset this provision during the fourth quarter of 2023 with a benefit from the settlement. In addition, the company do not currently have any outstanding litigation related to property damage claims, as the company previously settled the litigation in Wyoming in August 2023, with such settlement also fully paid by the insurance carrier. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$1.78 (vs US$1.61 in 3Q 2022) Third quarter 2023 results: EPS: US$1.78 (up from US$1.61 in 3Q 2022). Revenue: US$38.3m (down 22% from 3Q 2022). Net income: US$4.41m (up 12% from 3Q 2022). Profit margin: 12% (up from 8.1% in 3Q 2022). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • Oct 25
NCS Multistage Holdings, Inc. to Report Q3, 2023 Results on Oct 31, 2023 NCS Multistage Holdings, Inc. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Oct 31, 2023 Reported Earnings • Aug 02
Second quarter 2023 earnings released: US$13.02 loss per share (vs US$2.25 loss in 2Q 2022) Second quarter 2023 results: US$13.02 loss per share (further deteriorated from US$2.25 loss in 2Q 2022). Revenue: US$25.4m (down 7.5% from 2Q 2022). Net loss: US$32.2m (loss widened 488% from 2Q 2022). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Energy Services industry in Europe. Annonce • Jul 28
NCS Multistage Holdings, Inc. to Report Q2, 2023 Results on Jul 31, 2023 NCS Multistage Holdings, Inc. announced that they will report Q2, 2023 results on Jul 31, 2023 New Risk • Jul 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (€42.4m market cap, or US$47.6m). Annonce • Jul 06
NCS Multistage Holdings, Inc. Announces Departure of James King, Chief Technology Officer On July 3, 2023, James King, Chief Technology Officer of NCS Multistage Holdings, Inc. (the Company), and the Company agreed that he will be leaving his position effective as of such date. Upon the effective date of the termination of his employment, Mr. King will be entitled to the severance payments set forth in Section 9(a) of his employment agreement. Reported Earnings • May 10
First quarter 2023 earnings released: US$6.11 loss per share (vs US$0.64 loss in 1Q 2022) First quarter 2023 results: US$6.11 loss per share (further deteriorated from US$0.64 loss in 1Q 2022). Revenue: US$43.6m (up 11% from 1Q 2022). Net loss: US$15.0m (loss widened US$13.4m from 1Q 2022). Annonce • May 05
NCS Multistage Holdings, Inc. to Report Q1, 2023 Results on May 10, 2023 NCS Multistage Holdings, Inc. announced that they will report Q1, 2023 results on May 10, 2023 Reported Earnings • Mar 09
Full year 2022 earnings released: US$0.45 loss per share (vs US$1.98 loss in FY 2021) Full year 2022 results: US$0.45 loss per share (improved from US$1.98 loss in FY 2021). Revenue: US$155.6m (up 31% from FY 2021). Net loss: US$1.10m (loss narrowed 77% from FY 2021). Board Change • Dec 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Director Valerie Mitchell was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Nov 02
NCS Multistage Holdings, Inc. Provides Earnings Guidance for the Fourth Quarter 2022 NCS Multistage Holdings, Inc. provided earnings guidance for the fourth quarter 2022. The company currently expects that Canadian revenue in the fourth quarter will decline as compared to the third quarter of 2022, as customers may begin to exhaust budgets due to favorable operating conditions earlier in the year and due to typical reductions in activity driven by winter holidays. As a result, The company expects total revenue in the fourth quarter of 2022 to decline as compared to the third quarter of 2022, but to increase compared to the fourth quarter of 2021. Annonce • Oct 26
NCS Multistage Holdings, Inc. to Report Q3, 2022 Results on Oct 31, 2022 NCS Multistage Holdings, Inc. announced that they will report Q3, 2022 results on Oct 31, 2022 Annonce • Aug 01
NCS Multistage Holdings, Inc. Announces Chief Executive Officer Retirement and Succession NCS Multistage Holdings, Inc. announced that Mr. Robert Nipper, the Company’s founder, current Chief Executive Officer and member of the Board of Directors (the “Board”) plans to retire, and has tendered his resignation from his position as Chief Executive Officer, effective November 1, 2022. Mr. Nipper will remain on the Board following his retirement. The Company’s Board has appointed Mr. Ryan Hummer to succeed Mr. Nipper as Chief Executive Officer, at which time he will also join the Board as a Class II director with a term to expire at the 2025 Annual Meeting of Stockholders. Mr. Hummer currently serves as Chief Financial Officer and Treasurer and his successor will be the subject of a future announcement as the Company is undergoing a search of internal and external candidates. Mr. Hummer, age 45, has served as the Company’s Chief Financial Officer since November 2016 and also as Treasurer since March 2020. Mr. Hummer previously served as Executive Vice President, Corporate Development since August 2015 and as Vice President, Corporate Development from July 2014 until August 2015. Mr. Hummer holds a B.S. in Economics from the Wharton School of the University of Pennsylvania. Annonce • Jul 28
NCS Multistage Holdings, Inc. to Report Q2, 2022 Results on Aug 02, 2022 NCS Multistage Holdings, Inc. announced that they will report Q2, 2022 results at 8:30 AM, US Eastern Standard Time on Aug 02, 2022 Annonce • May 02
NCS Multistage Holdings, Inc. to Report Q1, 2022 Results on May 05, 2022 NCS Multistage Holdings, Inc. announced that they will report Q1, 2022 results on May 05, 2022 Annonce • Apr 12
NCS Multistage Holdings, Inc., Annual General Meeting, Jun 01, 2022 NCS Multistage Holdings, Inc., Annual General Meeting, Jun 01, 2022, at 09:00 Central Standard Time. Location: 19350 State Highway 249, Suite 600, Houston, Texas 77070 Texas United States Agenda: To consider election of Matthew Fitzgerald, David McKenna and Robert Nipper as Class II Directors to serve until 2025 Annual Meeting of Stockholders; and to ratify the appointment of Grant Thornton LLP as independent registered public accounting firm for the year ending December 31, 2022. Annonce • Mar 04
NCS Multistage Holdings, Inc. to Report Q4, 2021 Results on Mar 08, 2022 NCS Multistage Holdings, Inc. announced that they will report Q4, 2021 results Pre-Market on Mar 08, 2022 Annonce • Feb 23
NCS Multistage Holdings, Inc. to Report Q4, 2020 Results on Mar 02, 2021 NCS Multistage Holdings, Inc. announced that they will report Q4, 2020 results on Mar 02, 2021 Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 5.7%. Over the next year, revenue is expected to shrink by 19% compared to a 17% decline forecast for the Energy Services industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$0.12 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$16.3m (down 73% from 3Q 2019). Net loss: US$5.86m (down 262% from profit in 3Q 2019). Annonce • Oct 29
NCS Multistage Holdings, Inc. to Report Q3, 2020 Results on Nov 05, 2020 NCS Multistage Holdings, Inc. announced that they will report Q3, 2020 results at 9:15 PM, GMT Standard Time on Nov 05, 2020 