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nCino, Inc. (NCNO)

NEUTRAL
TechnologySoftware - ApplicationUnited States

Fundamental

60

Price

$20.73

Market Cap

$2.27B

Part 1 · What the company is worth

Overview

nCino, Inc., a software-as-a-service company, provides software solutions to financial institutions in the United States, the United Kingdom, and internationally. It offers solutions on the nCino Platform, including an Onboarding solution that streamlines and enhances the customer onboarding process through a digital platform for credit and non-credit onboarding, commercial account opening, and enterprise-level onboarding; and an Account Opening solution, which includes a Deposit Account Opening solution for consumers and small businesses. The company also provides Lending, which provides a loan origination platform for commercial, consumer, small business, and mortgage lending, such as the Commercial Loan Origination System that automates the loan lifecycle; Consumer Lending solution, which offers an omnichannel solution with automated credit decisioning and integrations; and Small Business Loan Origination solution for automation and machine learning. In addition, it offers Credit Monitoring, manages credit risks, monitors performance, and uncovers growth opportunities through a data-driven platform; Portfolio Analytics solution, which offers customizable dashboards to track loan, deposit, and application data; and Integration & Intelligence, provides integration capabilities to connect core banking systems, fintech applications, and third-party services via open APIs and a partner marketplace. The company serves global, enterprise, regional, and community banks, credit unions, challenger banks, and independent mortgage banks, business development managers, account executives, field sales engineers, and customer success managers. nCino, Inc. was founded in 2011 and is headquartered in Wilmington, North Carolina.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$610M

Trailing 12 months (through 4/30/2026)

Net Income

$13M

Trailing 12 months (through 4/30/2026)

Free Cash Flow

$83M

Total Equity

$1.06B

Total Liabilities

$579M

Current Ratio

0.89

Interest Coverage

1.51

Debt/EBITDA

7.11

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

Overvalued

Fair Value

$15.79

Current Price

$20.73

Margin of Safety

-31.3%

Fair Value Range

$10.26 - $21.32

Estimation Methods

Analyst Target:$23.36
DCF:$16.88
PE-based:$1.60
Graham Growth:$1.95
EPV:$2.17
Analyst Consensus:Strong Buy (15B / 5H / 0S)
Last Earnings Surprise:+27.60%

Valuation Metrics

P/E Ratio

174.58

ROE

0.5%

P/B Ratio

2.37

P/FCF

20.72

Gross Margin

61.4%

ROIC

1.6%

Profitability Radar

Value Creation (Economic Moat)

ROIC

1.6%

WACC

8.2%

ROIC − WACC

-6.6 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Fundamental Analysis Criteria

Passed (17)

  • EPS shows upward trend
  • Gross Margin 61.4%
  • P/FCF 20.72
  • P/B Ratio 2.37
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Return on Tangible Assets
  • Revenue Growth 5Y 23.8%
  • Analyst Consensus 75% Buy
  • Earnings Surprise avg 52.1%
  • Earnings Quality (OCF/NI) 8.84
  • Share Dilution -9.7%
  • Net Margin Trend 2.2% vs -5.3%
  • Piotroski F-Score 7/9

Failed (8)

  • Price CAGR -18.89%
  • ROIC 1.6%
  • Operating Margin 4.3%
  • Debt/EBITDA
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • ROE 1.3%

Unavailable (2)

  • Dividend Payout NaN%
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

7/9

Strong financial health

score
criteria

Earnings Quality

8.84

High quality: earnings backed by cash

Share Dilution

-9.7%

Buying back shares. Shareholder friendly

Governance

Executive Team

NameTitleAge
Mr. Pierre NaudeCo-Founder & Chairman of the Board66
Mr. Sean DesmondCEO, President & Director51
Mr. Gregory D. OrensteinCFO & Treasurer56
Ms. April RiegerChief Legal & Administrative Officer and Corporate Secretary45
Ms. Katie SmithDirector of Operations-
Jeanette SellersVice President of Accounting-
Mr. Izak CronierHead of Information Technology-
Mr. Davis BrannanExecutive Vice President of Strategic Operations-
Mr. Anthony MorrisSenior VP of Global Banking Strategy & Customer Advisory-
Mr. Mark BernhardiManaging Director of Australia & New Zealand-

Audit Risk

2

Board Risk

8

Compensation Risk

6

Shareholder Rights Risk

5

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for NCNO, sourced from Markets Gazette.

  • 4/1/2026NEGATIVE
    These Analysts Slash Their Forecasts On nCino Following Q4 Results

    Despite nCino Inc. (NASDAQ:NCNO) reporting strong Q4 results and issuing upbeat guidance, alongside a new Chief Revenue Officer appointment, analysts have revised their price targets downwards. This divergence suggests that while the company's operational performance met or exceeded expectations, the forward-looking analyst sentiment is cautious. Investors should monitor the specific reasons cited by analysts for the target reductions, as they may indicate underlying concerns about future growth, competitive pressures, or market conditions that could impact the stock's trajectory.

  • 3/5/2026NEUTRAL
    This Investor Built a $34 Million Stake in nCino Despite Shares Sinking 50% in One Year

    An investor has built a $34 million stake in nCino (NCNO), even as the stock has fallen 50% over the past year. nCino, a cloud banking software provider serving financial institutions with SaaS solutions focused on automation, analytics, and compliance, is experiencing a significant market correction. This substantial investment, going against the prevailing negative trend, may signal long-term conviction in the stock's recovery potential or undervaluation. However, the stock's prior poor performance and the speculative nature of this move render the signal neutral for the broader market, pending operational confirmations or a sentiment shift.

via Markets Gazette