Research · refreshed nightly · July 28, 2026
Small Caps Sitting on Net Cash (July 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
65.5median MGI
26joined this week
The ranking
Sorted by MGI
1
Plejd ABPLEJD.SE🇸🇪
Revenue +28%/yr · +27%/yr per share · asset light
G 75V 69O 81Cap $835.1M
MGI
75
MVI
69
MTI
35
MOI
81
Cap
$835.1M
Growth
+28%2
Vitalhub Corp.VHI.CA🇨🇦
Revenue +37%/yr · +23%/yr per share · asset light
G 73V 71O 80Cap $309.8M
MGI
73
MVI
71
MTI
28
MOI
80
Cap
$309.8M
Growth
+47%3
SN
Synektik S.A.SNT.PL🇵🇱
Revenue +35%/yr · +35%/yr per share · asset light
G 73V 64O 78Cap $657.1M
MGI
73
MVI
64
MTI
46
MOI
78
Cap
$657.1M
Growth
+35%4
Frequentis AGFQT.AT🇦🇹
Revenue +14%/yr · +14%/yr per share · asset light
G 71V 70O 79Cap $1.1B
MGI
71
MVI
70
MTI
35
MOI
79
Cap
$1.1B
Growth
+21%5
Kuros Biosciences LtdKURN.CH🇨🇭
Revenue +101%/yr · +80%/yr per share · asset light
G 70V 59O 74Cap $1.0B
MGI
70
MVI
59
MTI
43
MOI
74
Cap
$1.0B
Growth
+72%6
TWFG, Inc.TWFG🇺🇸
Revenue +16%/yr · -70%/yr per share · scale economics
G 70V 77O 78Cap $303M
MGI
70
MVI
77
MTI
43
MOI
78
Cap
$303M
Growth
+36%7
Eagle Eye Solutions Group plcEYE.GB🇬🇧
Revenue +17%/yr · +11%/yr per share · asset light
G 70V 67O 75Cap $196.6M
MGI
70
MVI
67
MTI
42
MOI
75
Cap
$196.6M
Growth
+11%8
FOPE S.p.A.FPE.IT🇮🇹
Revenue +27%/yr · +26%/yr per share · asset light
G 70V 63O 74Cap $242.5M
MGI
70
MVI
63
MTI
42
MOI
74
Cap
$242.5M
Growth
+27%9
Nordrest Holding ABNREST.SE🇸🇪
Revenue +38%/yr · +31%/yr per share · scale economics
G 69V 68O 74Cap $373.8M
MGI
69
MVI
68
MTI
45
MOI
74
Cap
$373.8M
Growth
+30%10
Tatton Asset Management plcTAM.GB🇬🇧
Revenue +14%/yr · +14%/yr per share · scale economics
G 69V 65O 74Cap $529.7M
MGI
69
MVI
65
MTI
37
MOI
74
Cap
$529.7M
Growth
+20%11
Trainline plcTRN.GB🇬🇧
Revenue +25%/yr · +28%/yr per share · asset light
G 69V 70O 75Cap $1.0B
MGI
69
MVI
70
MTI
53
MOI
75
Cap
$1.0B
Growth
+2%12
AtriCure, Inc.ATRC🇺🇸
Revenue +16%/yr · +14%/yr per share · asset light
G 69V 59O 72Cap $1.7B
MGI
69
MVI
59
MTI
45
MOI
72
Cap
$1.7B
Growth
+14%13
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%14
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
+33%15
Yuanbao Inc.YB🇨🇳
Revenue +65%/yr · -4%/yr per share · asset light
G 69V 60O 72Cap $653.4M
MGI
69
MVI
60
MTI
60
MOI
72
Cap
$653.4M
Growth
+36%16
Bittium OyjBITTI.FI🇫🇮
Revenue +9%/yr · +9%/yr per share · asset light
G 68V 45O 67Cap $1.2B
MGI
68
MVI
45
MTI
44
MOI
67
Cap
$1.2B
Growth
+9%17
Red Violet, Inc.RDVT🇺🇸
Revenue +16%/yr · +15%/yr per share · asset light
G 68V 57O 70Cap $888.9M
MGI
68
MVI
57
MTI
43
MOI
70
Cap
$888.9M
Growth
+17%18
M-tron Industries, Inc.MPTI🇺🇸
Revenue +16%/yr · +10%/yr per share · scale economics
G 67V 58O 69Cap $368.7M
MGI
67
MVI
58
MTI
42
MOI
69
Cap
$368.7M
Growth
+15%19
Flywire CorporationFLYW🇺🇸
Revenue +27%/yr · +14%/yr per share · asset light
G 67V 76O 77Cap $1.7B
MGI
67
MVI
76
MTI
52
MOI
77
Cap
$1.7B
Growth
+41%20
ATOSS Software SEAOF.DE🇩🇪
Revenue +17%/yr · +17%/yr per share · asset light
G 67V 51O 67Cap $1.8B
MGI
67
MVI
51
MTI
38
MOI
67
Cap
$1.8B
Growth
+11%21
DoubleVerify Holdings, Inc.DV🇺🇸
Revenue +18%/yr · +17%/yr per share · asset light
G 67V 73O 78Cap $1.6B
MGI
67
MVI
73
MTI
43
MOI
78
Cap
$1.6B
Growth
+10%22
PFISTERER Holding SEPFSE.DE🇩🇪
Revenue +334%/yr · +307%/yr per share · scale economics
G 67V 62O 71Cap $1.5B
MGI
67
MVI
62
MTI
38
MOI
71
Cap
$1.5B
Growth
+27%23
innoscripta SE1INN.DE🇩🇪
Revenue +43%/yr · +13%/yr per share · asset light
G 66V 72O 74Cap $812.3M
MGI
66
MVI
72
MTI
53
MOI
74
Cap
$812.3M
Growth
+58%24
ChemoMetec A/SCHEMM.DK🇩🇰
Revenue +15%/yr · +15%/yr per share · asset light
G 66V 39O 63Cap $1.9B
MGI
66
MVI
39
MTI
42
MOI
63
Cap
$1.9B
Growth
+22%25
IVU Traffic Technologies AGIVU.DE🇩🇪
Revenue +10%/yr · +11%/yr per share · asset light
G 66V 64O 71Cap $429.6M
MGI
66
MVI
64
MTI
38
MOI
71
Cap
$429.6M
Growth
+10%26
BioSyent Inc.RX.CA🇨🇦
Revenue +10%/yr · +12%/yr per share · asset light
G 65V 66O 70Cap $117.6M
MGI
65
MVI
66
MTI
37
MOI
70
Cap
$117.6M
Growth
+27%27
Kits Eyecare Ltd.KITS.CA🇨🇦
Revenue +21%/yr · +18%/yr per share · scale economics
G 65V 55O 66Cap $351.2M
MGI
65
MVI
55
MTI
43
MOI
66
Cap
$351.2M
Growth
+23%28
MNTN, Inc.MNTN🇺🇸
Revenue +25%/yr · +251%/yr per share · asset light
G 65V 77O 73Cap $669.7M
MGI
65
MVI
77
MTI
48
MOI
73
Cap
$669.7M
Growth
+14%29
Paysign, Inc.PAYS🇺🇸
Revenue +25%/yr · +21%/yr per share · asset light
G 65V 64O 69Cap $497M
MGI
65
MVI
64
MTI
52
MOI
69
Cap
$497M
Growth
+51%30
Friedrich Vorwerk Group SEVH2.DE🇩🇪
Revenue +21%/yr · +20%/yr per share · asset light
G 65V 69O 72Cap $1.6B
MGI
65
MVI
69
MTI
37
MOI
72
Cap
$1.6B
Growth
+5%31
Paxman ABPAX.GB🇬🇧
Revenue +27%/yr · +20%/yr per share · asset light
G 65V 62O 69Cap $128.5M
MGI
65
MVI
62
MTI
24
MOI
69
Cap
$128.5M
Growth
+33%32
LB
Lubawa S.A.LBW.PL🇵🇱
Revenue +19%/yr · +19%/yr per share · scale economics
G 65V 69O 71Cap $343.1M
MGI
65
MVI
69
MTI
33
MOI
71
Cap
$343.1M
Growth
+19%33
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%34
Axon Partners Group S.A.APG.ES🇪🇸
Revenue +20%/yr · +19%/yr per share · asset light
G 64V 66O 68Cap $94.7M
MGI
64
MVI
66
MTI
42
MOI
68
Cap
$94.7M
Growth
+17%35
BQE Water Inc.BQE.CA🇨🇦
Revenue +34%/yr · +48%/yr per share · scale economics
G 64V 72O 70Cap $65.8M
MGI
64
MVI
72
MTI
38
MOI
70
Cap
$65.8M
Growth
-35%36
BrainsWay Ltd.BWAY🇮🇱
Revenue +14%/yr · +8%/yr per share · asset light
G 64V 57O 66Cap $584.2M
MGI
64
MVI
57
MTI
42
MOI
66
Cap
$584.2M
Growth
+35%37
Stille ABSTIL.SE🇸🇪
Revenue +29%/yr · +15%/yr per share · scale economics
G 64V 61O 67Cap $206M
MGI
64
MVI
61
MTI
36
MOI
67
Cap
$206M
Growth
+11%38
MBB SEMBB.DE🇩🇪
Revenue +11%/yr · +14%/yr per share · asset light
G 64V 66O 70Cap $1.1B
MGI
64
MVI
66
MTI
46
MOI
70
Cap
$1.1B
Growth
-9%39
Dar Global PLCDAR.AE🇦🇪
Revenue +89%/yr · +109%/yr per share · scale economics
G 64V 65O 69Cap $1.4B
MGI
64
MVI
65
MTI
52
MOI
69
Cap
$1.4B
Growth
+124%40
ActiveOps PLCAOM.GB🇬🇧
Revenue +15%/yr · +14%/yr per share · asset light
G 64V 67O 68Cap $175.7M
MGI
64
MVI
67
MTI
42
MOI
68
Cap
$175.7M
Growth
+14%41
XPEL, Inc.XPEL🇺🇸
Revenue +14%/yr · +14%/yr per share · scale economics
G 63V 66O 69Cap $1.2B
MGI
63
MVI
66
MTI
46
MOI
69
Cap
$1.2B
Growth
+13%42
SI-BONE, Inc.SIBN🇺🇸
Revenue +18%/yr · +12%/yr per share · asset light
G 62V 68O 68Cap $657.2M
MGI
62
MVI
68
MTI
42
MOI
68
Cap
$657.2M
Growth
+11%43
MS International plcMSI.GB🇬🇧
Revenue +17%/yr · +18%/yr per share · scale economics
G 62V 56O 64Cap $340.1M
MGI
62
MVI
56
MTI
44
MOI
64
Cap
$340.1M
Growth
+7%44
B.P. Marsh & Partners PLCBPM.GB🇬🇧
Revenue +25%/yr · +23%/yr per share · asset light
G 62V 55O 64Cap $320.8M
MGI
62
MVI
55
MTI
34
MOI
64
Cap
$320.8M
Growth
-46%45
Applied Nutrition plcAPN.GB🇬🇧
Revenue +44%/yr · +44%/yr per share · scale economics
G 62V 58O 64Cap $1.1B
MGI
62
MVI
58
MTI
58
MOI
64
Cap
$1.1B
Growth
+24%46
D-BOX Technologies Inc.DBO.CA🇨🇦
Revenue +27%/yr · +25%/yr per share · asset light
G 62V 63O 66Cap $195.2M
MGI
62
MVI
63
MTI
45
MOI
66
Cap
$195.2M
Growth
+70%47
ACV Auctions Inc.ACVA🇺🇸
Revenue +17%/yr · +10%/yr per share · asset light
G 62V 65O 67Cap $1.4B
MGI
62
MVI
65
MTI
48
MOI
67
Cap
$1.4B
Growth
+12%48
Electromed, Inc.ELMD🇺🇸
Revenue +13%/yr · +14%/yr per share · asset light
G 61V 61O 66Cap $330M
MGI
61
MVI
61
MTI
46
MOI
66
Cap
$330M
Growth
+18%
Changed this week
Week over week, from the nightly refresh.
Entered
AtriCure, Inc. (ATRC) · joined at #12 · Revenue +16%/yr · +14%/yr per share · asset light
EnteredPaxman AB (PAX.GB) · joined at #31 · Revenue +27%/yr · +20%/yr per share · asset light
EnteredFrequentis AG (FQT.AT) · joined at #4 · Revenue +14%/yr · +14%/yr per share · asset light
EnteredIVU Traffic Technologies AG (IVU.DE) · joined at #25 · Revenue +10%/yr · +11%/yr per share · asset light
EnteredBioSyent Inc. (RX.CA) · joined at #26 · Revenue +10%/yr · +12%/yr per share · asset light
+7 more
DAR.AE, TSTL.GB, FRP.GB, TWFG, AOF.DE, STIL.SE, FSG.GB also joined
Left
DXRX.GB, NIOX.GB, SGN.PL, TSTL.GB, FRP.GB, FSG.GB, RERE, NSSC, FRP.GB, ATAT, VCEL, BZ
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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 2026-07-28.