Northann Corp. (NCL) Stock

Northann Corp. (NCL) is a Materials stock trading at $0.15 (as of 2026-06-24), with a market capitalization of $8.54M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Northann Corp. (NCL) manufactures, wholesales, and retails 3D printed vinyl flooring panels and other decorative panels under the Benchwick brand. It sells these products in North America, Europe, and internationally.

Understand Northann Corp.: how it makes money

Northann Corp. makes and sells 3D printed vinyl flooring panels and other decorative panels under the Benchwick brand, through wholesale and retail channels in North America, Europe, and internationally.

Profitability likely depends on manufacturing efficiency and the ability to sell finished 3D printed vinyl flooring panels profitably across wholesale and retail demand cycles, since production costs and channel mix can directly drive gross and operating margins.

Business quality (Weak): The business model is straightforward (manufacture and sell Benchwick decorative panels), but the latest reported results show negative gross margin (-10.0%) and negative operating margin (-57.5%) for the period ended 2026-03-31, and the provided data does not include segment breakdowns or operating KPIs.

Bull case

  • Brand and product focus: Products are offered under the Benchwick brand, focused on 3D printed vinyl flooring panels and other decorative panels.
  • Multiple sales channels and geographies: The company sells through both wholesale and retail, and operates in North America, Europe, and internationally.

Bear case

  • Current profitability is weak: For the period ended 2026-03-31, gross margin was -10.0% and operating margin was -57.5%.
  • Limited visibility from the provided dataset: No official segment revenue breakdowns or operating KPIs were provided, making it harder to pinpoint what is driving performance.
Valuation — source: SEC EDGAR (first-party)
Price$0.15
Market Cap$8.54M
EV / EBITDA-1.3
Price / Book0.46
Price / Sales0.56
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$15.35M
Net Margin-28.5%
Return on Equity-64.7%
Debt / Equity0.26
Current Ratio1.51
Revenue Growth (YoY)38.6%
EPS Growth (YoY)-450.0%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.38 (distress)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Materials)25.1
Industry P/E (Rubber & Plastic Products)24.4
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderCOMERICA INC ($93000.00)
Institutional Holders Tracked10
Company
SectorMaterials
IndustryRubber & Plastic Products
CEOLin Li
Employees73
CountryUS
IPO Date2008-01-01

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NCL earnings history · NCL institutional & insider holders · NCL KPIs & operating metrics · NCL financials · NCL investor presentations & press releases · NCL SEC filings · NCL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-06-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.