Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Advanced Flower Capital Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
74.7
63.9
45.7
24.6
General and administrative
3.21
4.7
5.01
3.97
3.23
Operating expenses
14.4
23.4
21.6
17.3
15.7
Interest expense
1.13
6.81
6.36
6.34
6.76
Interest income
38.1
81.5
70.3
52
31.3
Pre-tax income
21
37
22.4
14.3
-21.3
Income tax
0.04
1.03
1.66
0.45
-0.61
Net income
21
35.9
21
16.3
-21
EPS, basic
1.57
1.80
1.02
0.78
-0.95
EPS, diluted
1.52
1.79
1.02
0.78
-0.95
Shares, basic (weighted)
13.4
19.8
20.3
20.8
22.2
Shares, diluted (weighted)
13.8
20
20.3
20.9
22.3
Dividend per share
1.67
2.23
2.00
1.77
0.53
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
109
140
90.4
104
38.6
Total assets
465
519
467
402
276
Total liabilities
192
180
147
201
100
Paid-in capital
274
349
350
252
259
Retained earnings
-1.09
-9.96
-30
-50.7
-83.4
Other comprehensive income
-0.17
0
Shareholders' equity
273
339
320
201
176
Total equity
273
339
320
201
176
Total liabilities and equity
465
519
467
402
276
Shares outstanding
16.4
20.4
20.5
22.3
23.5
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
21
35.9
21
16.8
-20.7
Stock-based compensation
1.75
1.34
0.99
1.39
6.84
Deferred income tax
0
0
-0.71
-0.65
Change in receivables
0
-0.04
0
Cash from operations
9.54
31.3
21.2
21.6
11.2
Purchases of investments
-16.1
0
Sales and maturities of investments
0
15.9
0
Cash from investing
-248
-16.3
28.5
-4.85
34.9
Debt repaid
0
-7.74
0
-12.5
Stock issued
186
75.1
0
15.8
0
Dividends paid
-14.4
-41.6
-42.5
-40
-19.3
Cash from financing
339
16.1
-68.5
-34.7
-111
Net change in cash
99.6
31.1
-18.7
-18
-65
Interest paid
0
5.85
5.55
5.31
6.01
Income taxes paid
0.04
0.95
1.66
1.27
0.21
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.56 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
2.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
1.2%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-46.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-31.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y
-228.8%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-221.8%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-47.9%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
-28.9%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y
-70.1%
Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y
-38.1%
Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-12.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-19.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-31.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-19.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
6.7%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
3.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share
-$1.36
Cash from operations / diluted weighted shares.
Book value per share
$8.25
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
16.7x
Market cap / net income. Only when net income is positive.
P/B
0.43x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.43x
Market cap / tangible book value, when positive.
Earnings yield
6.0%
Net income / market cap (the inverse of P/E).
What was Advanced Flower Capital Inc.'s revenue in fiscal 2025?
Advanced Flower Capital Inc. reported revenue of $24.6M for fiscal 2025, 46.2% lower than the year before.
Was Advanced Flower Capital Inc. profitable in fiscal 2025?
No. It reported a net loss of $21.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.