Ncino vs Yuanbao
Ncino and Yuanbao are similar in size: $595m and $609m of revenue in their latest fiscal years. Yuanbao grew faster (33.3% against 10.0%). Yuanbao kept more of each dollar of sales as profit: a net margin of 29.9% against 0.9%. Yuanbao carries less debt relative to equity (0.0% against 20.2%).
| Latest fiscal year | NcinoNCNO, 2026 | YuanbaoYB, 2025 |
|---|---|---|
| Revenue | $595m | $609m |
| Revenue growth | 10.0% | 33.3% |
| Net income | $5.2m | $182m |
| Operating margin | 0.6% | — |
| Net margin | 0.9% | 29.9% |
| Return on equity | 0.5% | 142.9% |
| Free cash flow | $82.6m | $205m |
| Cash | $88.4m | $123m |
| Total debt | $214m | $0 |
| Debt to equity | 20.2% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $125m | — |
| Employees | 1,684 | — |
| Market value | $2.39bn | $520m |
| Price vs our value range | Above our value range | — |
| Moat score | 39 (Weak) | — |
| Insider trades, 12 months | 0 buys, 42 sales | 0 buys, 0 sales |