NOTEOTCServices-Business Services, NECFiscal year ends December 31Also trades as NOTEW
FiscalNote Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$0.01−0.00 (-14.35%)
Close on Oct 19, 2026
- Market cap
- $334.66K
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Operating margin
-51.9%
Net margin
-68.4%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -20.7% | -5.7% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -81.7% | |
| Return on assets | – | – | -22.4% | |
| Current ratio | 3.34 | 3.34 | 1.03 | |
| Debt to equity | – | – | 2.07 | |
| Interest coverage | – | – | -3.0× | |
| Capex to revenue | – | – | 7.5% | |
| Diluted shares | – | – | 14M |
Where the cash went
Fiscal 2021 to 2025, five years combined
FiscalNote generated $161.91M from operations and spent $41.05M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$161.91M
Used
$41.05M
Capital expenditure$40.96M100%Dividends$00%Share buybacks$88.00K0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-68.4%
×Asset turnover0.33×
×Equity multiplier3.64×
=Return on equity, FY2025-81.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -68.4% | 0.33× | 3.64× | -81.7% |
| FY2024 | 7.9% | 0.35× | 4.93× | 13.5% |
| FY2023 | -87.0% | 0.33× | 4.27× | -122.7% |
| FY2022 | -191.8% | 0.28× | -2.41× | 129.4% |
| FY2021 | -132.0% | 0.30× | -0.78× | 30.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$65.25M
- Cash generatingOperating cash flow above zero-$11.44M
- Return on assets improvedROA up on the prior year2.6% → -20.0%
- Earnings backed by cashOperating cash flow above net income-$11.44M vs -$65.25M
- Less leverageLong-term debt to assets fell45.1% → 49.2%
- Better liquidityCurrent ratio rose1.12 → 1.03
- No dilutionShare count did not rise11M → 14M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.32 → 0.29