Private company

NCS Multistage Holdings, Inc.

American oil and gas field services company based in Houston, active since 2012.

Last updated Oct 18, 2026.

Overview

IndustryOil & Gas Field Services, NEC
HeadquartersHouston, United States
Incorporated inDE²
Business address19350 State Highway 249, Suite 600, Houston, Tx 77070²
Filer categoryNon-accelerated filer, Smaller reporting company²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.7%Operating margin³

12.9%Net margin³

13.0%Revenue growth, 2025³

18.8%Return on equity³

$21.0MFree cash flow³

Where the money goes

Where each dollar of revenue went, fiscal 2025

Selling, general and adminOther costsProfit

Research and development1¢$2.0M
Selling, general and admin32¢$58.8M
Other costs49¢$89.8M
Income tax5¢$9.2M
Profit13¢$23.7M

Out of $183.6M in revenue.³

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Capital spending5¢$1.2M
Kept or used elsewhere95¢$21.0M

Out of $22.2M of cash from operations.³

Financial statements

Revenue⁴⁵⁶⁷³$183.6M in 2025−11% since 2019

Operating income⁴⁵⁶⁷³$10.5M in 2025

Net income⁴⁵⁶⁷³$23.7M in 2025

Fiscal year	2019	2020	2021	2022	2023	2024	2025
Revenue	$205.5M⁴	$107.0M⁴	$118.5M⁵	$155.6M⁶	$142.5M⁷	$162.6M³	$183.6M³
Cost of revenue	$108.0M⁴	$62.9M⁴	$70.0M⁵	$95.2M⁶	$86.9M⁶
Research and development	$2.8M⁴	$1.9M⁴	$2.1M⁵	$2.7M⁶	$2.5M⁷	$2.0M³	$2.0M³
Selling, general and admin	$88.6M⁴	$59.4M⁴	$49.1M⁵	$58.3M⁶	$56.5M⁷	$57.8M³	$58.8M³
Operating income	-$9.5M⁴	-$71.4M⁴	-$5.1M⁵	-$2.3M⁶	-$5.5M⁷	$4.3M³	$10.5M³
Income tax	$10.8M⁴	-$7.8M⁴	$263.0K⁵	$351.0K⁶	-$232.0K⁷	$116.0K³	-$9.2M³
Net income	-$32.8M⁴	-$57.6M⁴	-$4.7M⁵	-$1.1M⁶	-$3.2M⁷	$6.6M³	$23.7M³
Earnings per share	-$14.08⁴	-$24.37⁴	-$1.98⁵	-$0.45⁶	-$1.27⁷	$2.60³	$9.17³
Earnings per share (diluted)	-$14.08⁴	-$24.37⁴	-$1.98⁵	-$0.45⁶	-$1.27⁷	$2.55³	$8.65³

Total assets¹⁰⁴⁵⁶⁷³$181.2M in 2025−11% since 2019

Total liabilities¹⁰⁴⁵⁶⁷³$38.1M in 2025−2% since 2019

Shareholders’ equity¹⁰⁴⁵⁶⁷³$126.2M in 2025−13% since 2019

Cash¹⁰⁴⁵⁶⁷³$36.7M in 2025+227% since 2019

Long-term debt¹⁰⁴$6.3M in 2021−45% since 2019

Fiscal year	2019	2020	2021	2022	2023	2024	2025
Cash	$11.2M¹⁰	$15.5M⁴	$22.2M⁵	$16.2M⁶	$16.7M⁷	$25.9M³	$36.7M³
Current assets	$100.6M¹⁰	$83.7M⁴	$88.5M⁵	$87.7M⁶	$103.2M⁷	$105.6M³	$121.9M³
Total assets	$202.6M¹⁰	$138.7M⁴	$142.3M⁵	$138.6M⁶	$152.0M⁷	$152.8M³	$181.2M³
Current liabilities	$19.8M¹⁰	$14.9M⁴	$19.8M⁵	$17.7M⁶	$32.1M⁷	$25.4M³	$28.5M³
Long-term debt	$11.4M¹⁰	$4.4M⁴	$6.3M⁴
Total liabilities	$39.0M¹⁰	$25.2M⁴	$31.7M⁵	$29.3M⁶	$42.6M⁷	$36.7M³	$38.1M³
Shareholders’ equity	$144.6M¹⁰	$93.6M⁴	$92.6M⁵	$91.0M⁶	$91.6M⁷	$98.8M³	$126.2M³
Shares outstanding	2.3M shares¹⁰	2.4M shares⁴	2.4M shares⁵	2.4M shares⁶	2.4M shares⁷	2.5M shares³	2.5M shares³

Cash from operations⁴⁵⁶⁷³$22.2M in 2025+24% since 2019

Capital spending⁴⁵⁶⁷³$1.2M in 2025−80% since 2019

Free cash flow⁴⁵⁶⁷³$21.0M in 2025+77% since 2019

Fiscal year	2019	2020	2021	2022	2023	2024	2025
Cash from operations	$17.9M⁴	$35.1M⁴	$11.6M⁵	-$1.4M⁶	$4.8M⁷	$12.7M³	$22.2M³
Capital spending	$6.1M⁴	$2.1M⁴	$495.0K⁵	$1.0M⁶	$1.9M⁷	$1.3M³	$1.2M³
Free cash flow	$11.8M	$33.0M	$11.1M	-$2.5M	$2.9M	$11.4M	$21.0M
Share buybacks
Dividend per share	$0.00¹⁰	$0.00⁴	$0.00⁵	$0.00⁶	$0.00⁷	$0.00³

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Leadership

Who has led NCS Multistage Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Marty Stromquist2017–2020

Chief financial officer

20202025

Chief executive officerRyan Hummer Nov 3, 2022 to now¹¹
Chief executive officerRobert Nipper Apr 27, 2017 to Mar 4, 2022¹²
PresidentMarty Stromquist Apr 27, 2017 to Mar 3, 2020¹³
Chief financial officerMichael L. Morrison Nov 3, 2022 to now¹⁴
Chief financial officerRyan Hummer Apr 27, 2017 to Mar 4, 2022¹⁵

Board members and other officers (22)

OfficerMichael L. Morrison Sep 1, 2026 to now¹⁶
OfficerRyan Hummer Sep 1, 2026 to now¹⁷
VP, ControllerDewayne Williams Mar 14, 2023 to now¹⁸
Executive VP, GC and SecretaryOri Lev Mar 2, 2021 to now¹⁹
Vice President, FinanceLori A. Cole Apr 2, 2020 to Mar 3, 2023²⁰
Chief Strategy OfficerJames Gambrell King Mar 4, 2019 to Mar 3, 2023²¹
Executive VP, GC and SecretaryKevin Trautner Apr 27, 2017 to Apr 27, 2017²²
Chief Operations OfficerTim Willems Apr 27, 2017 to now²³
CAO and TreasurerWade Bitter Apr 27, 2017 to Mar 3, 2020²⁴
Board memberRyan Hummer Nov 3, 2022 to now¹¹
Board memberValerie A. Mitchell Aug 22, 2019 to now²⁵
Board memberDavid M. McKenna Apr 27, 2017 to May 5, 2017²⁶
Board memberFranklin Myers Apr 27, 2017 to Mar 3, 2020²⁷
Board memberGurinder Grewal Apr 27, 2017 to now²⁸
Board memberJohn D. Deane Apr 27, 2017 to now²⁹
Board memberMarty Stromquist Apr 27, 2017 to Mar 2, 2023¹³
Board memberMatthew D. Fitzgerald Apr 27, 2017 to Mar 3, 2023³⁰
Board memberMichael McShane Apr 27, 2017 to now³¹
Board memberRobert Nipper Apr 27, 2017 to now¹²
Board memberW. Matt Ralls Apr 27, 2017 to now³²
General counselOri Lev May 11, 2020 to May 11, 2020³³
General counselKevin Trautner Aug 24, 2017 to Mar 3, 2020³⁴

Timeline

Nov 3, 2022New chief executive Ryan Hummer becomes CEO¹¹
Apr 27, 2017New chief executive Robert Nipper becomes CEO¹²
Nov 28, 2012Founded NCS Multistage Holdings, Inc. is founded³⁵

Filings

227 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 108 insider forms, 8 large holders, 54 other. The latest 20:

Sep 11, 202615-12G EDGAR
Sep 8, 2026EFFECT EDGAR
Sep 8, 2026EFFECT EDGAR
Sep 8, 2026EFFECT EDGAR
Sep 1, 2026S-8 POS EDGAR
Sep 1, 2026S-8 POS EDGAR
Sep 1, 2026S-8 POS EDGAR
Sep 1, 2026S-8 POS EDGAR
Sep 1, 2026S-8 POS EDGAR
Sep 1, 2026S-8 POS EDGAR
Sep 1, 2026POS AM EDGAR
Sep 1, 2026POS AM EDGAR
Sep 1, 2026POS AM EDGAR
Sep 1, 20264 EDGAR
Sep 1, 20264 EDGAR
Sep 1, 20264 EDGAR
Sep 1, 20264 EDGAR
Sep 1, 20264 EDGAR
Sep 1, 20264 EDGAR
Sep 1, 20264 EDGAR

The 227 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 8 such filings since October 2021:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARNCS Multistage Holdings, Inc. filings on SEC EDGAR
2
SEC EDGARNCS Multistage Holdings, Inc. filings on SEC EDGAR
3
SEC EDGARNCS Multistage Holdings, Inc. 10-K for fiscal 2025
4
SEC EDGARNCS Multistage Holdings, Inc. 10-K for fiscal 2019
5
SEC EDGARNCS Multistage Holdings, Inc. 10-K for fiscal 2021
6
SEC EDGARNCS Multistage Holdings, Inc. 10-K for fiscal 2022
7
SEC EDGARNCS Multistage Holdings, Inc. 10-K for fiscal 2023
8
SEC EDGARNCS Multistage Holdings, Inc. 10-Q for fiscal 2026
9
SEC EDGARNCS Multistage Holdings, Inc. 10-Q for fiscal 2026
10
SEC EDGARNCS Multistage Holdings, Inc. 10-K for fiscal 2019
11
SEC EDGARRyan Hummer, Chief executive officer
12
SEC EDGARRobert Nipper, Chief executive officer
13
SEC EDGARMarty Stromquist, President
14
SEC EDGARMichael L. Morrison, Chief financial officer
15
SEC EDGARRyan Hummer, Chief financial officer
16
SEC EDGARMichael L. Morrison, Officer
17
SEC EDGARRyan Hummer, Officer
18
SEC EDGARDewayne Williams, VP, Controller
19
SEC EDGAROri Lev, Executive VP, GC and Secretary
20
SEC EDGARLori A. Cole, Vice President, Finance
21
SEC EDGARJames Gambrell King, Chief Strategy Officer
22
SEC EDGARKevin Trautner, Executive VP, GC and Secretary
23
SEC EDGARTim Willems, Chief Operations Officer
24
SEC EDGARWade Bitter, CAO and Treasurer
25
SEC EDGARValerie A. Mitchell, Board member
26
SEC EDGARDavid M. McKenna, Board member
27
SEC EDGARFranklin Myers, Board member
28
SEC EDGARGurinder Grewal, Board member
29
SEC EDGARJohn D. Deane, Board member
30
SEC EDGARMatthew D. Fitzgerald, Board member
31
SEC EDGARMichael McShane, Board member
32
SEC EDGARW. Matt Ralls, Board member
33
SEC EDGAROri Lev, General counsel
34
SEC EDGARKevin Trautner, General counsel
35
gleifNCS Multistage Holdings, Inc. is founded