What is SHF Holdings Inc's earnings per share (EPS)?

SHF Holdings Inc (SHFS) reported diluted earnings per share of $-0.82 for fiscal year 2025. This represents a 95.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

SHF Holdings Inc Financials

SHFS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows SHF Holdings Inc (SHFS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SHFS FY2025 2026-04-22

FY2025 shows a recapitalized but still shrinking business, with liquidity restored by financing rather than by operations.

From FY2024 to FY2025, net loss narrowed from -$48.3M to -$2.2M, but operating loss remained heavy. Operating cash flow moved from $430K to -$3.4M, showing the cleaner bottom line came mostly from non-operating effects rather than stronger day-to-day economics.

The balance sheet looks less strained than a year earlier: cash nearly tripled to $6.8M and the current ratio improved to 1.9x. But that breathing room was funded by a financing inflow of $7.4M, not by the business itself.

Compared with FY2023, revenue is less than half at $7.7M versus $17.6M, while SG&A also fell sharply, which points to a business being resized rather than scaled. Even after that cost reset, FY2025 operating margin stayed deeply negative at -70.4%, meaning the smaller expense base still does not fit the smaller revenue base.

Financial Health Signals

Financial Profile 21/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of SHF Holdings Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

SHF Holdings Inc has an operating margin of -70.4%, meaning the company retains $-70 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -46.5% the prior year.

Growth

SHF Holdings Inc's revenue declined 49.7% year-over-year, from $15.2M to $7.7M. This contraction results in a growth score of 0/100.

Leverage

SHF Holdings Inc carries a low D/E ratio of 1.09, meaning only $1.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 80/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

SHF Holdings Inc's current ratio of 1.88 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Returns

SHF Holdings Inc generates a -26.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Weak

2/9

SHF Holdings Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.58x

For every $1 of reported earnings, SHF Holdings Inc generates $1.58 in operating cash flow (-$3.4M OCF vs -$2.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-11.0x

SHF Holdings Inc earns $-11.0 in operating income for every $1 of interest expense (-$5.4M vs $493K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$7.7M

YoY-49.7%

SHF Holdings Inc generated $7.7M in revenue in fiscal year 2025. This represents a decrease of 49.7% from the prior year.

EBITDA

-$5.4M

YoY+15.4%

SHF Holdings Inc's EBITDA was -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.4% from the prior year.

Net Income

-$2.2M

YoY+95.5%

SHF Holdings Inc reported -$2.2M in net income in fiscal year 2025. This represents an increase of 95.5% from the prior year.

EPS (Diluted)

$-0.82

YoY+95.3%

SHF Holdings Inc earned $-0.82 per diluted share (EPS) in fiscal year 2025. This represents an increase of 95.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$6.8M

YoY+191.6%

SHF Holdings Inc held $6.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

-70.4%

YoY-23.8pp

SHF Holdings Inc's operating margin was -70.4% in fiscal year 2025, reflecting core business profitability. This is down 23.8 percentage points from the prior year.

Net Margin

-28.2%

YoY+288.8pp

SHF Holdings Inc's net profit margin was -28.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 288.8 percentage points from the prior year.

Return on Equity

-26.2%

SHF Holdings Inc's ROE was -26.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

SHFS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$7.7M-49.7%	$15.2M-13.2%	$17.6M+85.3%	$9.5M+35.3%	$7.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.3M-18.0%	$4.0M-39.0%	$6.6M+175.6%	$2.4M+320.9%	$568K
Operating Income	-$5.4M+23.9%	-$7.1M+65.8%	-$20.7M-843.2%	-$2.2M-166.9%	$3.3M
Interest Expense	$493K-7.6%	$533K-52.1%	$1.1M+57.9%	$705K	N/A
Income Tax	-$58K-100.1%	$43.9M+2497.1%	-$1.8M+80.2%	-$9.3M	N/A
Net Income	-$2.2M+95.5%	-$48.3M-179.6%	-$17.3M+50.8%	-$35.1M-1168.7%	$3.3M
EPS (Diluted)	$-0.82+95.3%	$-17.43-114.7%	$-8.12	$-1.85	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$2.1M+12.5%	$1.8M-0.6%	$1.8M-4.5%	$1.9M-47.4%	$3.7M+5.4%	$3.5M-13.7%	$4.0M-0.3%	$4.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$989K+15.5%	$856K+87.1%	$458K-53.8%	$991K-10.1%	$1.1M+18.6%	$929K-7.2%	$1.0M+1.8%	$984K
Operating Income	-$1.2M-0.2%	-$1.2M-25.4%	-$971K+51.2%	-$2.0M+74.8%	-$7.9M-4561.9%	$177K-41.1%	$300K-7.6%	$325K
Interest Expense	$12K-95.3%	$253K+119.0%	$115K+2.3%	$113K+131.7%	$49K-69.9%	$162K-4.2%	$169K+9.5%	$154K
Income Tax	N/A	N/A	-$58K	N/A	$43.8M+640591.9%	$7K-98.6%	$488K+211.1%	-$439K
Net Income	-$583K-424.5%	$180K+119.3%	-$931K-12.5%	-$827K+98.4%	-$51.7M-14702.0%	$354K-62.4%	$942K-54.1%	$2.0M
EPS (Diluted)	N/A	$0.06+118.2%	$-0.33-10.0%	$-0.30	N/A	$0.13-60.6%	$0.33-54.8%	$0.73

SHFS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$17.2M+30.2%	$13.2M-80.5%	$67.9M-31.8%	$99.5M+1222.4%	$7.5M
Current Assets	$12.2M+4.3%	$11.7M+50.8%	$7.8M-24.1%	$10.2M+67.6%	$6.1M
Cash & Equivalents	$6.8M+191.6%	$2.3M-52.4%	$4.9M-41.7%	$8.4M+52.7%	$5.5M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.0M0.0%	$1.0M	N/A	$1.4M+168.1%	$523K
Goodwill	N/A	N/A	$6.1M-68.6%	$19.3M	N/A
Total Liabilities	$9.0M-64.8%	$25.5M-23.9%	$33.5M-64.5%	$94.3M+51875.9%	$182K
Current Liabilities	$6.5M-48.8%	$12.7M+60.6%	$7.9M-84.1%	$49.6M+27211.2%	$182K
Long-Term Debt	N/A	N/A	N/A	$18.9M	N/A
Total Equity	$8.2M+167.0%	-$12.3M-135.8%	$34.4M+571.9%	$5.1M-30.3%	$7.3M
Retained Earnings	-$122.9M-1.8%	-$120.8M-68.7%	-$71.6M-80.3%	-$39.7M-485.3%	-$6.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$17.2M+25.9%	$13.7M+129.4%	$6.0M-10.5%	$6.7M-49.7%	$13.2M-80.2%	$66.9M-0.7%	$67.3M-0.5%	$67.7M
Current Assets	$12.2M+9.9%	$11.1M+123.8%	$5.0M-5.0%	$5.2M-55.4%	$11.7M-3.9%	$12.2M+55.4%	$7.8M+5.5%	$7.4M
Cash & Equivalents	$6.8M+686.7%	$862K+248.4%	$247K-73.4%	$931K-59.9%	$2.3M-60.3%	$5.9M-4.1%	$6.1M+8.6%	$5.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.0M	N/A	N/A	N/A	$1.0M	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	$6.1M0.0%	$6.1M0.0%	$6.1M
Total Liabilities	$9.0M+34.5%	$6.7M-72.0%	$23.8M+0.9%	$23.6M-7.5%	$25.5M-7.3%	$27.5M-4.7%	$28.9M-6.0%	$30.7M
Current Liabilities	$6.5M+21.9%	$5.3M-56.8%	$12.3M+3.3%	$11.9M-5.8%	$12.7M-13.7%	$14.7M+95.1%	$7.5M+5.9%	$7.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.2M+17.7%	$7.0M+139.2%	-$17.9M-5.4%	-$16.9M-37.9%	-$12.3M-131.2%	$39.4M+2.3%	$38.5M+4.0%	$37.0M
Retained Earnings	-$122.9M-0.5%	-$122.3M+0.1%	-$122.5M-0.8%	-$121.6M-0.7%	-$120.8M-74.8%	-$69.1M+0.5%	-$69.4M+1.3%	-$70.4M

SHFS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$3.4M-893.9%	$430K+151.7%	-$832K-149.0%	$1.7M-42.4%	$2.9M
Capital Expenditures	N/A	N/A	$208K+1103.6%	$17K+192.5%	$6K
Free Cash Flow	N/A	N/A	-$1.0M-161.9%	$1.7M-42.9%	$2.9M
Investing Cash Flow	$442K+3467.7%	$12K+100.6%	-$2.2M+24.7%	-$2.9M-379.8%	$1.0M
Financing Cash Flow	$7.4M+347.1%	-$3.0M-515.1%	-$489K-111.9%	$4.1M+375.3%	-$1.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$1.1M-97.8%	-$538K+20.2%	-$675K+40.9%	-$1.1M+58.9%	-$2.8M-652.6%	$502K-59.1%	$1.2M-16.7%	$1.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$50K-87.0%	$386K+11586.1%	$3K+1.7%	$3K-23.1%	$4K+102.0%	$2K-31.9%	$3K+1.8%	$3K
Financing Cash Flow	$6.9M+804.0%	$767K+6104.2%	-$13K+95.0%	-$256K+66.5%	-$764K-1.2%	-$755K-1.1%	-$747K-0.9%	-$741K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SHFS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	-70.4%-23.8pp	-46.5%+71.5pp	-118.0%-94.8pp	-23.2%-70.1pp	46.9%
Net Margin	-28.2%+288.8pp	-317.0%-218.6pp	-98.4%+272.2pp	-370.6%-417.5pp	46.9%
Return on Equity	-26.2%	N/A	-50.3%+636.7pp	-687.0%-731.8pp	44.8%
Return on Assets	-12.6%+353.0pp	-365.6%-340.1pp	-25.5%+9.9pp	-35.3%-79.0pp	43.7%
Current Ratio	1.88+1.0	0.92-0.1	0.98+0.8	0.21-33.4	33.63
Debt-to-Equity	1.09+3.2	-2.08-3.1	0.98-2.7	3.70+3.7	0.02
FCF Margin	N/A	N/A	-5.9%-23.6pp	17.7%-24.3pp	42.0%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-59.1%+7.2pp	-66.4%-13.8pp	-52.6%+50.4pp	-103.1%+111.9pp	-215.0%-220.1pp	5.1%-2.4pp	7.4%-0.6pp	8.0%
Net Margin	-28.2%-38.0pp	9.8%+60.2pp	-50.4%-7.6pp	-42.8%+1364.3pp	-1407.1%-1417.3pp	10.2%-13.2pp	23.3%-27.3pp	50.6%
Return on Equity	-7.1%-9.6pp	2.6%	N/A	N/A	N/A	0.9%-1.6pp	2.5%-3.1pp	5.5%
Return on Assets	-3.4%-4.7pp	1.3%+16.9pp	-15.6%-3.2pp	-12.4%+378.4pp	-390.9%-391.4pp	0.5%-0.9pp	1.4%-1.6pp	3.0%
Current Ratio	1.88-0.2	2.08+1.7	0.40-0.0	0.44-0.5	0.92+0.1	0.83-0.2	1.040.0	1.04
Debt-to-Equity	1.09+0.1	0.95+2.3	-1.33+0.1	-1.39+0.7	-2.08-2.8	0.70-0.1	0.75-0.1	0.83
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is SHF Holdings Inc's annual revenue?

SHF Holdings Inc (SHFS) reported $7.7M in total revenue for fiscal year 2025. This represents a -49.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is SHF Holdings Inc's revenue growing?

SHF Holdings Inc (SHFS) revenue declined by 49.7% year-over-year, from $15.2M to $7.7M in fiscal year 2025.

Is SHF Holdings Inc profitable?

No, SHF Holdings Inc (SHFS) reported a net income of -$2.2M in fiscal year 2025, with a net profit margin of -28.2%.

What is SHF Holdings Inc's EBITDA?

SHF Holdings Inc (SHFS) had EBITDA of -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is SHF Holdings Inc's operating margin?

SHF Holdings Inc (SHFS) had an operating margin of -70.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is SHF Holdings Inc's net profit margin?

SHF Holdings Inc (SHFS) had a net profit margin of -28.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is SHF Holdings Inc's return on equity (ROE)?

SHF Holdings Inc (SHFS) has a return on equity of -26.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is SHF Holdings Inc's operating cash flow?

SHF Holdings Inc (SHFS) generated -$3.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are SHF Holdings Inc's total assets?

SHF Holdings Inc (SHFS) had $17.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What is SHF Holdings Inc's current ratio?

SHF Holdings Inc (SHFS) had a current ratio of 1.88 as of fiscal year 2025, which is generally considered healthy.

What is SHF Holdings Inc's debt-to-equity ratio?

SHF Holdings Inc (SHFS) had a debt-to-equity ratio of 1.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SHF Holdings Inc's return on assets (ROA)?

SHF Holdings Inc (SHFS) had a return on assets of -12.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SHF Holdings Inc's cash runway?

Based on fiscal year 2025 data, SHF Holdings Inc (SHFS) had $6.8M in cash against an annual operating cash burn of $3.4M. This gives an estimated cash runway of approximately 24 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is SHF Holdings Inc's Piotroski F-Score?

SHF Holdings Inc (SHFS) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are SHF Holdings Inc's earnings high quality?

SHF Holdings Inc (SHFS) has an earnings quality ratio of 1.58x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can SHF Holdings Inc cover its interest payments?

SHF Holdings Inc (SHFS) has an interest coverage ratio of -11.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is SHF Holdings Inc?

SHF Holdings Inc (SHFS) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.