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Financial statements

Andersen Group Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Andersen Group 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

FY2023FY2025FY2025
Revenue639732839
Cost of revenue400462595
Gross profit239270244
Selling, general and administrative115132177
Operating income117130-135
Interest expense0.140.061.44
Interest income2.664.524.17
Other non-operating income1.563.195.39
Pre-tax income121137-127
Income tax2.262.43
Net income119135-2.32
EBITDA125138-126

Balance sheet

FY2023FY2025FY2025
Cash and equivalents71.788250
Receivables118123
Other current assets4.073.85
Total current assets246412
Property, plant and equipment32.735.7
Lease right-of-use assets76.982.1
Goodwill30.130.1
Intangible assets2.332.54
Other non-current assets02.24
Total assets399565
Accounts payable16.912
Accrued liabilities37.746.3
Deferred revenue15.612.5
Total current liabilities94.4196
Long-term debt0288
Lease liabilities90.9106
Other non-current liabilities17.13.52
Total liabilities202594
Total debt350
Paid-in capital0
Retained earnings-135
Shareholders' equity-135
Minority interests0
Total equity-135
Total liabilities and equity399565

Cash flow statement

FY2023FY2025FY2025
Net income119135-130
Depreciation and amortization7.698.339.01
Stock-based compensation00147
Deferred income tax0.17-0.1-0.51
Change in receivables-14.5-7.88-4.37
Change in payables4.46.382.19
Cash from operations118152185
Capital expenditures-4.9-8.6-10.3
Cash from investing-12.6-18.510.6
Stock issued000.01
Dividends paid-212
Cash from financing-91.2-118-32.9
Net change in cash14.216.3162
Free cash flow113144174
Interest paid0.020.010.22
Income taxes paid1.562.383.22

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $52.96 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin29.0%Gross profit / revenue.
Operating margin-16.1%Operating income / revenue.
EBITDA margin-15.1%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin-15.2%Pre-tax income / revenue.
Net margin-0.3%Net income / revenue.
FCF margin20.8%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin22.0%Cash from operations / revenue.
Return on assets (ROA)-0.5%Net income / average total assets.
SG&A / revenue21.1%Selling, general and administrative expense / revenue.
Stock-based pay / revenue17.6%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue1.2%Capital expenditures / revenue.
D&A / revenue1.1%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y14.6%Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y-9.7%Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y-204.4%Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y-191.6%EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y-101.7%Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y21.2%Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y21.3%Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y41.8%Total assets vs the same period a year earlier. Only from a positive base.

Balance sheet health

MetricValueHow it is calculated
Current ratio2.10xCurrent assets / current liabilities.
Quick ratio1.91x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio1.28x(Cash + short-term investments) / current liabilities.
Debt / assets61.9%Total debt / total assets.
Liabilities / assets105.0%Total liabilities / total assets.
Net debt$99.8MTotal debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage-94.2xOperating income / interest expense.
Working capital$216.2MCurrent assets - current liabilities.
Goodwill and intangibles / assets5.8%(Goodwill + intangible assets) / total assets.
Tangible book value-$167.4MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover1.74xRevenue / average total assets.
Fixed asset turnover24.5xRevenue / average property, plant and equipment.
Receivables turnover6.95xRevenue / average receivables.
Days sales outstanding52 days365 x average receivables / revenue.
Days payables9 days365 x average accounts payable / cost of revenue.
Capex / operating cash flow5.6%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
Dividends / FCF121.8%Dividends paid / free cash flow, when free cash flow is positive.

Valuation

MetricValueHow it is calculated
Market cap$5.98BShare price x shares outstanding.
Enterprise value$6.08BMarket cap + total debt - cash - short-term investments.
P/S7.13xMarket cap / revenue.
P/FCF34.3xMarket cap / free cash flow. Only when free cash flow is positive.
P/OCF32.4xMarket cap / cash from operations, when positive.
EV/Sales7.25xEnterprise value / revenue.
EV/FCF34.9xEnterprise value / free cash flow, when both are positive.
FCF yield2.9%Free cash flow / market cap.
Earnings yield-0.0%Net income / market cap (the inverse of P/E).
Dividend yield3.5%Dividends paid over the period / market cap.
Shareholder yield3.5%(Dividends paid + share buybacks) / market cap.
What was Andersen Group Inc.'s revenue in fiscal 2025?

Andersen Group Inc. reported revenue of $838.7M for fiscal 2025, 14.6% higher than the year before.

Was Andersen Group Inc. profitable in fiscal 2025?

No. It reported a net loss of $2.3M.

How much free cash flow did Andersen Group Inc. generate in fiscal 2025?

Cash from operations of $184.6M minus capital expenditures of $10.3M left free cash flow of $174.3M.

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.

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