NETCLASS TECHNOLOGY INC Class A (NTCL) Balance Sheet
NTCL balance sheet, FY2025
September 30, 2025 · U.S. dollars$13.8M assets = $7.8M liabilities + $6.0M equity
Both columns are drawn to the same scale: what NTCL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NTCL financial health
Descriptive bands, not a rating. Fiscal FY2025.
NTCL balance sheet trends, FY2020–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.9MFY2020 | $13.8MFY2025 | +28.7%/yr | |
| Total liabilities | $2.5MFY2020 | $7.8MFY2025 | +25.3%/yr | |
| Shareholders’ equity | $1.4MFY2020 | $5.8MFY2025 | +32.4%/yr | |
| Cash & short-term investments | $306,460FY2020 | $1.8MFY2025 | +41.9%/yr | |
| Total debt | $187,071FY2020 | $2.7MFY2025 | +70.7%/yr | |
| Net cash (debt) | $119,389FY2020 | −$950,422FY2025 | −$1.1M | |
| Working capital | $889,775FY2020 | $2.0MFY2025 | +$1.1M | |
| Current ratio | 1.36FY2020 | 1.29FY2025 | −0.07 | |
| Debt / equity | 0.13FY2020 | 0.47FY2025 | +0.34 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NTCL assets
NTCL liabilities and equity
NTCL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NTCL balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $1.8M | $410,716 | $524,601 | $208,206 | $1.0M | $306,460 |
| Cash & equivalents | $1.8M | $410,716 | $524,601 | $208,206 | $1.0M | $306,460 |
| Receivables | $5.6M | $5.3M | $2.3M | $3.4M | $2.5M | $1.7M |
| Inventory | $305,741 | $1.2M | $1.1M | $94,573 | $249,151 | $656,984 |
| Other current assets | $1.2M | $184,017 | $2.4M | $353,796 | $34,035 | $629,072 |
| Total current assets | $8.9M | $7.1M | $6.3M | $4.0M | $3.8M | $3.3M |
| Property, plant & equipment (net) | $1.7M | $52,829 | $103,232 | $145,470 | $281,161 | $388,895 |
| Goodwill & intangible assets | $1.1M | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.1M | $88,445 | $123,371 | $184,785 | $100,103 | $190,613 |
| Total assets | $13.8M | $7.2M | $6.5M | $4.4M | $4.2M | $3.9M |
| Liabilities | ||||||
| Accounts payable | $1.9M | $2.9M | $1.2M | $1.0M | $1.0M | $1.5M |
| Short-term debt | $1.7M | $13,122 | $41,650 | $130,938 | $98,552 | $93,536 |
| Deferred revenue | $1.9M | — | — | $302,433 | $413,012 | — |
| Total current liabilities | $6.9M | $4.2M | $2.1M | $1.9M | $1.7M | $2.4M |
| Long-term debt | $421,408 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $700,992 | $13,122 | $54,356 | $0 | — | — |
| Other long-term liabilities | $556,584 | $0 | $12,706 | $0 | $0 | $93,535 |
| Total liabilities | $7.8M | $4.2M | $2.1M | $1.9M | $1.7M | $2.5M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $5,122 | $3,940 | $3,940 | $3,750 | $3,750 | $10,000 |
| Retained earnings (deficit) | −$12.5M | −$1.7M | −$129,361 | −$291,590 | −$424,277 | −$1.5M |
| Accumulated other comprehensive income | −$169,208 | −$186,133 | −$252,751 | −$223,312 | $24,788 | −$59,492 |
| Minority interest | $197,166 | $91,074 | $0 | — | — | — |
| Total shareholders' equity | $5.8M | $3.0M | $4.4M | $2.4M | $2.5M | $1.4M |
| Key figures | ||||||
| Total debt | $2.7M | $13,122 | $54,356 | $130,938 | $98,552 | $187,071 |
| Net cash (debt) | −$950,422 | $397,594 | $470,245 | $77,268 | $943,384 | $119,389 |
| Working capital | $2.0M | $2.9M | $4.2M | $2.1M | $2.1M | $889,775 |
| Tangible book value | $4.7M | $3.0M | $4.4M | $2.4M | $2.5M | $1.4M |
| Current ratio | 1.29 | 1.70 | 3.03 | 2.07 | 2.27 | 1.36 |
| Quick ratio | 1.07 | 1.37 | 1.35 | 1.84 | 2.10 | 0.84 |
| Debt / equity | 0.47 | 0.00 | 0.01 | 0.05 | 0.04 | 0.13 |
| Equity / assets | 41.9% | 41.1% | 67.9% | 55.4% | 59.9% | 36.3% |
| Mar '26 | Dec '25 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $1.7M | $1.8M | $1.8M | — | $410,716 | $410,716 | $410,716 | $316,095 | $316,095 | $524,601 | $524,601 |
| Cash & equivalents | $1.7M | $1.8M | $1.8M | — | $410,716 | $410,716 | $410,716 | $316,095 | $316,095 | $524,601 | $524,601 |
| Receivables | $6.2M | $5.6M | $4.7M | $0 | $5.3M | $5.3M | $5.3M | $2.4M | $2.4M | $2.3M | $2.3M |
| Inventory | $734,008 | $305,741 | $1.8M | $0 | $1.2M | $1.2M | $1.2M | $919,635 | $919,635 | $1.1M | $1.1M |
| Other current assets | $675,588 | $1.2M | $945,592 | — | $184,017 | $184,017 | $184,017 | $359,311 | $359,311 | $2.4M | $2.4M |
| Total current assets | $9.4M | $8.9M | $9.3M | — | $7.1M | $7.1M | $7.1M | $4.0M | $4.0M | $6.3M | $6.3M |
| Property, plant & equipment (net) | $1.5M | $1.7M | $1.2M | $0 | $52,829 | $52,829 | $52,829 | $76,983 | $76,983 | $103,232 | $103,232 |
| Goodwill & intangible assets | $1.2M | $1.1M | $465,137 | $327,071 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.8M | $2.1M | $530,998 | $11.0M | $88,445 | $88,445 | $88,445 | $307,372 | $307,372 | $123,371 | $123,371 |
| Total assets | $15.9M | $13.8M | $11.4M | $11.3M | $7.2M | $7.2M | $7.2M | $4.4M | $4.4M | $6.5M | $6.5M |
| Liabilities | |||||||||||
| Accounts payable | $2.3M | $1.9M | $1.8M | — | $2.9M | $2.9M | $2.9M | $1.1M | $1.1M | $1.2M | $1.2M |
| Short-term debt | $2.1M | $1.7M | $1,272 | — | $13,122 | $13,122 | $13,122 | $35,682 | $35,682 | $41,650 | $41,650 |
| Deferred revenue | $3.7M | $1.9M | — | — | — | — | — | $173,928 | — | — | — |
| Total current liabilities | $10.2M | $6.9M | $4.2M | — | $4.2M | $4.2M | $4.2M | $2.0M | $2.0M | $2.1M | $2.1M |
| Long-term debt | $434,909 | $0 | $421,408 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $648,221 | — | $700,992 | — | — | $13,122 | — | $34,066 | — | $54,356 | — |
| Other long-term liabilities | $611,375 | $977,992 | $0 | — | $0 | $0 | $0 | $1,264 | $1,264 | $12,706 | $12,706 |
| Total liabilities | $11.2M | $7.8M | $4.6M | — | $4.2M | $4.2M | $4.2M | $2.0M | $2.0M | $2.1M | $2.1M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $14,986 | $5,122 | $4,458 | — | $3,940 | $3,940 | $3,940 | $3,940 | $3,940 | $3,940 | $3,940 |
| Retained earnings (deficit) | −$18.4M | −$12.5M | −$6.5M | −$6.6M | −$1.7M | −$1.7M | −$1.7M | −$2.3M | −$2.3M | −$129,361 | −$129,361 |
| Accumulated other comprehensive income | −$10.0M | −$169,208 | −$201,487 | — | −$186,133 | −$186,133 | −$186,133 | −$216,228 | −$216,228 | −$252,751 | −$252,751 |
| Minority interest | $119,355 | — | $197,166 | $167,706 | — | — | — | — | — | — | — |
| Total shareholders' equity | $4.6M | $5.8M | $6.6M | $6.5M | $3.0M | $3.0M | $3.0M | $2.4M | $2.4M | $4.4M | $4.4M |
| Key figures | |||||||||||
| Total debt | $3.1M | $2.7M | $373,342 | — | $13,122 | $13,122 | $13,122 | $36,946 | $36,946 | $54,356 | $54,356 |
| Net cash (debt) | −$1.4M | −$950,422 | $1.4M | — | $397,594 | $397,594 | $397,594 | $279,149 | $279,149 | $470,245 | $470,245 |
| Working capital | −$810,109 | $2.0M | $5.0M | — | $2.9M | $2.9M | $2.9M | $2.0M | $2.0M | $4.2M | $4.2M |
| Tangible book value | $3.4M | $4.7M | $6.1M | $6.2M | $3.0M | $3.0M | $3.0M | $2.4M | $2.4M | $4.4M | $4.4M |
| Book value per share | $10.82 | — | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 426K | — | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.92 | 1.29 | 2.18 | — | 1.70 | 1.70 | 1.70 | 1.97 | 1.97 | 3.03 | 3.03 |
| Quick ratio | 0.78 | 1.07 | 1.52 | — | 1.37 | 1.37 | 1.37 | 1.34 | 1.34 | 1.35 | 1.35 |
| Debt / equity | 0.67 | 0.47 | 0.06 | — | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.01 | 0.01 |
| Equity / assets | 28.9% | 41.9% | 57.7% | 57.8% | 41.1% | 41.1% | 41.1% | 53.8% | 53.8% | 67.9% | 67.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 2, 2026); data from EODHD.
NTCL financial position
At the end of fiscal 2025 (September 30, 2025), NETCLASS TECHNOLOGY INC had total assets of $13.8 million (up 91.0% from a year earlier), total liabilities of $7.8 million and shareholders' equity of $5.8 million. It held $1.8 million in cash and short-term investments against $2.7 million of debt, net debt of $1.0 million. Its current ratio was 1.29. In the latest quarter (ended March 31, 2026) total assets were $15.9 million and equity $4.6 million.
Related: NTCL income statement, NTCL cash flow statement, NTCL key metrics. See the NTCL stock overview for the latest quote and news.
NTCL balance sheet FAQ
What are NETCLASS TECHNOLOGY INC's total assets?
NETCLASS TECHNOLOGY INC reported total assets of $13.8 million at the end of fiscal 2025 (September 30, 2025), compared with $7.2 million a year earlier.
How much debt does NETCLASS TECHNOLOGY INC have?
NETCLASS TECHNOLOGY INC had $2.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.47.
How much cash does NETCLASS TECHNOLOGY INC have?
NETCLASS TECHNOLOGY INC held $1.8 million in cash and short-term investments at the end of fiscal 2025; with $2.7 million of debt that is net debt of $1.0 million.
What is NETCLASS TECHNOLOGY INC's book value?
NETCLASS TECHNOLOGY INC's shareholders' equity (book value) was $5.8 million at the end of fiscal 2025.
What is NETCLASS TECHNOLOGY INC's current ratio?
NETCLASS TECHNOLOGY INC had current assets of $8.9 million and current liabilities of $6.9 million, a current ratio of 1.29 (it can cover its short-term obligations).
How much goodwill does NETCLASS TECHNOLOGY INC have?
NETCLASS TECHNOLOGY INC carried $1.1 million of goodwill and intangible assets, 8.0% of total assets, at the end of fiscal 2025.