Research · refreshed nightly · August 17, 2026
Small Caps Sitting on Net Cash (October 2026)
Small caps, net cash balance sheets.
A net cash balance sheet buys a small company the one thing it cannot manufacture: time. These fifty small caps sitting on net cash, each carrying more cash than debt, are ranked by MGI. Plejd leads at 75, Vericel and Kuros Biosciences both score 70, and Finland's Bittium posts 68 at a $1.2B cap.
Cash cushions cut both ways. They fund expansion through downturns without dilution, but hoarding can also mean a business with nowhere to reinvest, which is why the score, not the cash balance, drives this ranking. The median MGI of 64.5 lands close to the profitable-small-caps list, and the overlap between the two is heavy. Click any name for the full citation-backed analysis.
50companies qualify
65median MGI
3joined this week
The ranking
Sorted by MGI
1
Plejd ABPLEJD.SE🇸🇪
Revenue +28%/yr · +27%/yr per share · asset light
G 75V 68O 81Cap $858.6M
MGI
75
MVI
68
MTI
35
MOI
81
Cap
$858.6M
Growth
+28%2
Vitalhub Corp.VHI.CA🇨🇦
Revenue +39%/yr · +24%/yr per share · asset light
G 73V 69O 79Cap $343M
MGI
73
MVI
69
MTI
28
MOI
79
Cap
$343M
Growth
+33%3
SN
Synektik S.A.SNT.PL🇵🇱
Revenue +48%/yr · +48%/yr per share · scale economics
G 73V 60O 76Cap $764M
MGI
73
MVI
60
MTI
46
MOI
76
Cap
$764M
Growth
+48%4
Frequentis AGFQT.AT🇦🇹
Revenue +15%/yr · +15%/yr per share · asset light
G 71V 72O 80Cap $994M
MGI
71
MVI
72
MTI
35
MOI
80
Cap
$994M
Growth
+21%5
FOPE S.p.A.FPE.IT🇮🇹
Revenue +27%/yr · +26%/yr per share · asset light
G 70V 62O 74Cap $247.5M
MGI
70
MVI
62
MTI
42
MOI
74
Cap
$247.5M
Growth
+27%6
TWFG, Inc.TWFG🇺🇸
Revenue +20%/yr · -65%/yr per share · scale economics
G 70Cap $1.4B
MGI
70
MTI
43
MOI
Cap
$1.4B
Growth
+36%7
Eagle Eye Solutions Group plcEYE.GB🇬🇧
Revenue +17%/yr · +11%/yr per share · asset light
G 70V 66O 75Cap $203.5M
MGI
70
MVI
66
MTI
42
MOI
75
Cap
$203.5M
Growth
+11%8
tonies SETNIE.DE🇩🇪
Revenue +36%/yr · +9%/yr per share · asset light
G 69V 65O 75Cap $1.6B
MGI
69
MVI
65
MTI
40
MOI
75
Cap
$1.6B
Growth
+31%9
Tatton Asset Management plcTAM.GB🇬🇧
Revenue +14%/yr · +14%/yr per share · scale economics
G 69V 65O 74Cap $527.6M
MGI
69
MVI
65
MTI
37
MOI
74
Cap
$527.6M
Growth
+20%10
Nordrest Holding ABNREST.SE🇸🇪
Revenue +38%/yr · +31%/yr per share · scale economics
G 69V 68O 74Cap $383.6M
MGI
69
MVI
68
MTI
45
MOI
74
Cap
$383.6M
Growth
+30%11
Trainline plcTRN.GB🇬🇧
Revenue +25%/yr · +28%/yr per share · asset light
G 69V 69O 75Cap $1.1B
MGI
69
MVI
69
MTI
53
MOI
75
Cap
$1.1B
Growth
+2%12
Anpario plcANP.GB🇬🇧
Revenue +9%/yr · +13%/yr per share · asset light
G 69V 63O 73Cap $112.1M
MGI
69
MVI
63
MTI
33
MOI
73
Cap
$112.1M
Growth
+24%13
Yuanbao Inc.YB🇨🇳
Revenue +65%/yr · -4%/yr per share · asset light
G 69V 62O 73Cap $620.7M
MGI
69
MVI
62
MTI
60
MOI
73
Cap
$620.7M
Growth
+36%14
Tantalus Systems Holding Inc.GRID.CA🇨🇦
Revenue +13%/yr · +6%/yr per share · asset light
G 68V 70O 74Cap $185.8M
MGI
68
MVI
70
MTI
42
MOI
74
Cap
$185.8M
Growth
+27%15
Red Violet, Inc.RDVT🇺🇸
Revenue +18%/yr · +16%/yr per share · asset light
G 68V 54O 69Cap $1.0B
MGI
68
MVI
54
MTI
43
MOI
69
Cap
$1.0B
Growth
+17%16
M-tron Industries, Inc.MPTI🇺🇸
Revenue +17%/yr · +10%/yr per share · scale economics
G 67V 55O 69Cap $406.8M
MGI
67
MVI
55
MTI
42
MOI
69
Cap
$406.8M
Growth
+15%17
DoubleVerify Holdings, Inc.DV🇺🇸
Revenue +18%/yr · +18%/yr per share · asset light
G 67V 69O 76Cap $1.9B
MGI
67
MVI
69
MTI
43
MOI
76
Cap
$1.9B
Growth
+3%18
innoscripta SE1INN.DE🇩🇪
Revenue +43%/yr · +13%/yr per share · asset light
G 66V 70O 73Cap $867.5M
MGI
66
MVI
70
MTI
53
MOI
73
Cap
$867.5M
Growth
+58%19
ChemoMetec A/SCHEMM.DK🇩🇰
Revenue +15%/yr · +15%/yr per share · asset light
G 66V 39O 62Cap $1.9B
MGI
66
MVI
39
MTI
42
MOI
62
Cap
$1.9B
Growth
+22%20
IVU Traffic Technologies AGIVU.DE🇩🇪
Revenue +10%/yr · +11%/yr per share · asset light
G 66V 62O 70Cap $455.5M
MGI
66
MVI
62
MTI
38
MOI
70
Cap
$455.5M
Growth
+10%21
Paxman ABPAX.GB🇬🇧
Revenue +27%/yr · +20%/yr per share · asset light
G 65V 62O 69Cap $127.1M
MGI
65
MVI
62
MTI
24
MOI
69
Cap
$127.1M
Growth
+33%22
PharmaNutra S.p.A.PHN.IT🇮🇹
Revenue +16%/yr · +16%/yr per share · asset light
G 65V 56O 67Cap $753.3M
MGI
65
MVI
56
MTI
35
MOI
67
Cap
$753.3M
Growth
+25%23
ATOSS Software SEAOF.DE🇩🇪
Revenue +16%/yr · +16%/yr per share · asset light
G 65V 61O 69Cap $1.5B
MGI
65
MVI
61
MTI
32
MOI
69
Cap
$1.5B
Growth
+11%24
INVISIO ABIVSO.DK🇩🇰
Revenue +26%/yr · +26%/yr per share · asset light
G 65V 53O 66Cap $1.4B
MGI
65
MVI
53
MTI
31
MOI
66
Cap
$1.4B
Growth
+53%25
Friedrich Vorwerk Group SEVH2.DE🇩🇪
Revenue +22%/yr · +22%/yr per share · asset light
G 65V 69O 73Cap $1.6B
MGI
65
MVI
69
MTI
37
MOI
73
Cap
$1.6B
Growth
+5%26
Paysign, Inc.PAYS🇺🇸
Revenue +28%/yr · +23%/yr per share · asset light
G 65V 54O 66Cap $743.6M
MGI
65
MVI
54
MTI
52
MOI
66
Cap
$743.6M
Growth
+48%27
BioSyent Inc.RX.CA🇨🇦
Revenue +10%/yr · +12%/yr per share · asset light
G 65V 65O 70Cap $121.8M
MGI
65
MVI
65
MTI
37
MOI
70
Cap
$121.8M
Growth
+27%28
Kits Eyecare Ltd.KITS.CA🇨🇦
Revenue +22%/yr · +19%/yr per share · scale economics
G 65V 55O 66Cap $347.8M
MGI
65
MVI
55
MTI
43
MOI
66
Cap
$347.8M
Growth
+18%29
MNTN, Inc.MNTN🇺🇸
Revenue +26%/yr · -13%/yr per share · asset light
G 65V 73O 72Cap $809.6M
MGI
65
MVI
73
MTI
48
MOI
72
Cap
$809.6M
Growth
+14%30
LB
Lubawa S.A.LBW.PL🇵🇱
Revenue +19%/yr · +19%/yr per share · scale economics
G 65V 68O 71Cap $351.2M
MGI
65
MVI
68
MTI
33
MOI
71
Cap
$351.2M
Growth
+19%31
BrainsWay Ltd.BWAY🇮🇱
Revenue +15%/yr · +10%/yr per share · asset light
G 64V 54O 65Cap $635.4M
MGI
64
MVI
54
MTI
42
MOI
65
Cap
$635.4M
Growth
+35%32
CEMATRIX CorporationCEMX.CA🇨🇦
Revenue +19%/yr · +12%/yr per share · scale economics
G 64V 73O 70Cap $53.7M
MGI
64
MVI
73
MTI
28
MOI
70
Cap
$53.7M
Growth
+10%33
Stille ABSTIL.SE🇸🇪
Revenue +27%/yr · +13%/yr per share · asset light
G 64V 63O 67Cap $192.5M
MGI
64
MVI
63
MTI
36
MOI
67
Cap
$192.5M
Growth
+45%34
Photocure ASAPHO.NO🇳🇴
Revenue +13%/yr · +14%/yr per share · asset light
G 64V 62O 67Cap $193.3M
MGI
64
MVI
62
MTI
46
MOI
67
Cap
$193.3M
Growth
+14%35
MBB SEMBB.DE🇩🇪
Revenue +12%/yr · +15%/yr per share · asset light
G 64V 66O 70Cap $1.1B
MGI
64
MVI
66
MTI
46
MOI
70
Cap
$1.1B
Growth
-9%36
Dar Global PLCDAR.AE🇦🇪
Revenue +89%/yr · +109%/yr per share · scale economics
G 64V 66O 69Cap $1.4B
MGI
64
MVI
66
MTI
52
MOI
69
Cap
$1.4B
Growth
+124%37
ActiveOps PLCAOM.GB🇬🇧
Revenue +13%/yr · -46%/yr per share · asset light
G 64V 65O 68Cap $186.4M
MGI
64
MVI
65
MTI
42
MOI
68
Cap
$186.4M
Growth
+14%38
Axon Partners Group S.A.APG.ES🇪🇸
Revenue +20%/yr · +19%/yr per share · asset light
G 64V 66O 68Cap $96.6M
MGI
64
MVI
66
MTI
42
MOI
68
Cap
$96.6M
Growth
+17%39
BQE Water Inc.BQE.CA🇨🇦
Revenue +34%/yr · +48%/yr per share · scale economics
G 64V 73O 71Cap $64.7M
MGI
64
MVI
73
MTI
38
MOI
71
Cap
$64.7M
Growth
-35%40
SNP Schneider-Neureither & Partner SESHF.DE🇩🇪
Revenue +14%/yr · +13%/yr per share · asset light
G 63V 60O 66Cap $703.3M
MGI
63
MVI
60
MTI
33
MOI
66
Cap
$703.3M
Growth
+24%41
Applied Nutrition plcAPN.GB🇬🇧
Revenue +44%/yr · +44%/yr per share · scale economics
G 62V 57O 64Cap $1.1B
MGI
62
MVI
57
MTI
58
MOI
64
Cap
$1.1B
Growth
+24%42
D-BOX Technologies Inc.DBO.CA🇨🇦
Revenue +27%/yr · +25%/yr per share · asset light
G 62V 63O 66Cap $194.2M
MGI
62
MVI
63
MTI
45
MOI
66
Cap
$194.2M
Growth
+70%43
B.P. Marsh & Partners PLCBPM.GB🇬🇧
Revenue +25%/yr · +23%/yr per share · asset light
G 62V 55O 63Cap $326.4M
MGI
62
MVI
55
MTI
34
MOI
63
Cap
$326.4M
Growth
-46%44
ACV Auctions Inc.ACVA🇺🇸
Revenue +17%/yr · +10%/yr per share · asset light
G 62V 67O 68Cap $1.3B
MGI
62
MVI
67
MTI
48
MOI
68
Cap
$1.3B
Growth
+12%45
SI-BONE, Inc.SIBN🇺🇸
Revenue +19%/yr · +12%/yr per share · asset light
G 62V 64O 66Cap $788.9M
MGI
62
MVI
64
MTI
42
MOI
66
Cap
$788.9M
Growth
+15%46
Foresight Group Holdings LimitedFSG.GB🇬🇧
Revenue +15%/yr · +14%/yr per share · asset light
G 61V 64O 64Cap $644.6M
MGI
61
MVI
64
MTI
46
MOI
64
Cap
$644.6M
Growth
+11%47
Diaceutics PLCDXRX.GB🇬🇧
Revenue +22%/yr · +20%/yr per share · asset light
G 61V 66O 65Cap $150M
MGI
61
MVI
66
MTI
38
MOI
65
Cap
$150M
Growth
+20%48
NIOX Group plcNIOX.GB🇬🇧
Revenue +15%/yr · +13%/yr per share · asset light
G 61V 59O 64Cap $381M
MGI
61
MVI
59
MTI
36
MOI
64
Cap
$381M
Growth
+17%
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Research tool, not investment advice. Rankings are generated by our models from company filings and market data, refresh nightly, and are identical for every visitor. Scores reflect our methodology and are not recommendations to act. Data as of 2026-08-17.