From Financial Modeling Prep: 2025-05-26 11:00:00

FiscalNote Holdings, Inc. (NYSE:NOTE) offers legal and regulatory data services for compliance and policy management. Compared to peers like Nerdy, Nogin, Bullfrog AI, CXApp, and T Stamp, FiscalNote faces the common challenge of capital efficiency.

FiscalNote’s Return on Invested Capital (ROIC) is -13.33% with a Weighted Average Cost of Capital (WACC) of 11.18%, resulting in a ROIC to WACC ratio of -1.19. This indicates that FiscalNote is not generating returns above its cost of capital but performs better than most peers.

Nerdy, Inc. has a ROIC of -132.90% and a WACC of 13.20%, leading to a ratio of -10.07. Nogin, Inc. shows even more inefficiency with a ratio of -39.52. Bullfrog AI and T Stamp struggle with ratios of -29.78 and -15.81, respectively, highlighting capital utilization challenges.

CXApp Inc. has the highest ROIC to WACC ratio among peers at -8.15, indicating relatively better capital efficiency despite being negative. FiscalNote’s ratio of -1.19 shows better performance compared to others, except for CXApp, in terms of capital utilization.



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