NetSol Technologies

NTWK

Software - Application · Technology

Price

$4.06

+0.03 (+0.74%)

Market Cap

$48.2M

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Weak

Stability

Exceptional

Valuation

Strong

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Winston Score History

The full picture

NetSol Technologies is a software company that builds financial technology tools for the leasing and lending industry. Its main product is a platform called NFS Ascent, which helps banks, auto finance companies, and equipment leasing firms manage loans and leases from start to finish. The company serves large financial institutions and captive finance arms of automakers, primarily across Asia-Pacific and Europe.

NetSol earns money through software licenses, implementation fees, and ongoing maintenance and support contracts, which provide some recurring revenue. The company is headquartered in Calabasas, California, but most of its operations and workforce are based in Pakistan and other parts of Asia, which helps keep costs low. Its deep specialization in lease and loan management software gives it a niche position, but its small size and heavy reliance on a limited number of large clients create concentration risk — losing even one major customer could meaningfully hurt revenue.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-8.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$1M/ year

↓ Declining (-9% vs prior year)

1.9% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

24.8%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~2 years

$18M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$18M cash & investments at current burn rate

Growth context

NetSol Technologies is growing revenue at 13% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 11.5M (2021) → 11.6M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

55.6%

Premium pricing power — 55.6% gross margin

Profit after running costs

Operating Margin

15.2%

Healthy — 15.2% operating margin

Return on the money invested

ROCE

12.5%

Good — 12.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+12.4%

Fast-growing sales (+12.4% YoY)

Profit growth

EPS YoY

+694.2%

Earnings growing fast (+694.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

-20%

Weak — only -20% of profit becomes cash

Spare cash per sale

FCF Margin

-3.1%

Burning cash (-3.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.22

Conservative — low debt load (0.22)

Covers its interest

Interest Cover

8.27x

Comfortably covers interest (8.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

26.9x

Growth-priced — P/E 26.9

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+16.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (26.9 → 10.8)

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Dividends

Not applicable for this business.

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