Comstock Holding Companies, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Comstock Holding Companies, 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	41.6	45.4	16.4	25.3	22.5	31.1	39.3	44.7	51.3	62.9
Cost of revenue					18.4	24.6	29.4	33	38.6	48.1
Gross profit	2.92	2.55	-0.43		4.04	6.44	9.94	11.7	12.7	14.8
Selling, general and administrative					1.31	1.29	1.78	2.31	2.08	2.55
Selling and marketing	1.61	1.49	0	0.38	0.66
General and administrative	5.59	5.3	0.83	1.49	2.96
Operating income	-6.86	-4.81	0.29	2.28	2.65	5.07	7.95	9.16	10.3	11.9
Interest expense	0.88	0.04	0.17
Other non-operating income	0.16	0.07	0.14	0.23	0.02	0.01	0	0.08	0.06	0.14
Pre-tax income	-6.71	-4.74	0.35	2.03	2.17	4.82	7.85	8.15	10.7	12.9
Income tax	0.06	0.04	-1.06	0	0.03	-11.2	0.13	0.37	-3.84	-4.17
Income from continuing operations					2.14	16	7.73	7.78	14.6	17.1
Net income to minority interests	2.23	0.25	0.47	0.31
Net income	-8.99	-5.03	-4.39	0.89	2.08	13.6	7.35	7.78	14.6	17.1
EBITDA	-6.68	-4.63	0.41	2.43	2.75	5.16	8.16	9.38	10.6	12.2
EPS, basic	-2.81	-1.21	-1.22	0.13	0.26	1.66	1.05	0.81
EPS, diluted	-2.81	-1.21	-1.22	0.13	0.24	1.50	0.98	0.77
Shares, basic (weighted)	3.32	3.37	3.71	6.62	8.06	8.21	8.97	9.63	9.85	10.1
Shares, diluted (weighted)	3.32	3.37	3.84	6.8	8.54	9.1	9.58	10.1	10.3	10.5

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	5.76	1.81	0.85	3.51	7.03	15.8	11.7	18.8	28.8	31.3
Receivables			0.97	1.89	0.06	0.05	0.5
Other current assets			0.36							2.02
Total current assets			12.9	9.32	12.3	20.1	15.8	24.4	36.7	53.3
Property, plant and equipment	0.26	0.31	0.22	0.28	0.17	0.26	0.42	0.48	0.57	0.67
Lease right-of-use assets			0	0.11	7.91	7.25	7.63	6.79	5.92	5
Goodwill		1.7	1.7	1.7	1.7
Intangible assets		0.24	0.17	0.1	0.04	0	0.14	0.14	0.14	0.14
Total assets	59.8	51.2	35.1	19.9	28.6	43.6	42.5	49.9	64.9	85
Accounts payable			1.2	1.44	0.52	0.78	0.74	0.84	0.78	0.85
Accrued liabilities			0.18	0.17	0.96
Deferred revenue			1.88	0
Short-term debt			0	0.08	0.01
Total current liabilities			15.3	10.3	4.5	6.06	6.49	6.37	6.66	9.68
Lease liabilities			0	0.06	7.36	6.75	7.13	6.27	5.35	4.36
Total liabilities	51.4	48.5	29.3	11.6	17.4	18.3	13.6	12.7	12.5	15
Total debt	43.7	39.4	7.23	7	5.51	5.5
Paid-in capital	176	178	182	199	200	201	202	202	203	203
Retained earnings	-185	-190	-196	-195	-193	-180	-170	-162	-148	-131
Treasury stock					-2.66	-2.66	-2.66	-2.66	-2.66	-2.66
Shareholders' equity	-9.88	-14.4	-9.89	8.36	11.2	25.3	28.9	37.2	52.4	70
Minority interests	18.3	17	15.7	0
Total equity	8.38	0.71	5.82	8.36	11.2	25.3	28.9	37.2	52.4	70
Total liabilities and equity	59.8	51.2	35.1	19.9	28.6	43.6	42.5	49.9	64.9	85

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-6.76	-4.78	-3.92	1.21	2.08	13.6	7.35	7.78	14.6	17.1
Depreciation and amortization	0.18	0.18	0.12	0.15	0.1	0.09	0.21	0.21	0.3	0.31
Stock-based compensation	0.07	0.35	0.26	0.48	0.7	0.63	0.83	0.97	0.95	1.06
Deferred income tax	0.01	0	-1.06	0	-0.17	1.66	1.09	2.02	2.67	3.32
Change in receivables	-0.28	0.27	-0.4	-0.96	0.08	1.89	-1.93	-1.45	-2.29	-12.4
Change in inventory	-11.1	4.78	22.4
Change in payables	0.14	1.36	1.05	0.24	-0.92
Cash from operations	-11.8	4.73	12.9	8.39	3.58	8.69	8.4	9	10.7	4.8
Capital expenditures	-0.04	-0.05	-0.08
Acquisitions		-0.58	0
Purchases of investments					0	-2.06	-2.71	-1.58	-0.14	-0.06
Cash from investing	0.23	-0.6	-0.04	0.15	1.7	1.28	-2.1	-1.55	-0.35	-1.76
Debt issued				0	1.95
Stock issued								0	0.23	0.11
Cash from financing	4.9	-8.19	-12.1	-5.88	-0.28	-0.23	-10.1	-0.39	-0.35	-0.51
Net change in cash	-6.69	-4.05	0.66	2.66	3.52	8.79	-4.1	7.07	9.97	2.52
Free cash flow	-11.9	4.68	12.8
Interest paid	0.07	0.49	0.19	0.42	0.4	0.23	0.22
Income taxes paid		0.02	0.01	0	0	0.01	0.09	0.03	0	0

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 $19.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	26.8%	Gross profit / revenue.
Operating margin	21.5%	Operating income / revenue.
EBITDA margin	21.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	28.8%	Pre-tax income / revenue.
Net margin	32.2%	Net income / revenue.
Operating cash flow margin	13.5%	Cash from operations / revenue.
Effective tax rate	-11.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	30.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	27.0%	Net income / average total assets.
Return on invested capital (ROIC)	23.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	5.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	22.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	16.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	22.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	16.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	29.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	16.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	14.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	35.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	15.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	14.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	34.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	17.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	32.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	52.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-55.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-17.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	33.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	34.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	44.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	31.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	26.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	24.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.4%	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	3.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	7.67x	Current assets / current liabilities.
Quick ratio	4.44x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	4.44x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	11.9%	Total liabilities / total assets.
Working capital	$38.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$81.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.84x	Revenue / average total assets.
Days payables	6 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.35	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.
Revenue per share	$7.30	Revenue / diluted weighted shares.
Operating cash flow per share	$0.98	Cash from operations / diluted weighted shares.
Book value per share	$7.67	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.66	Tangible book value / shares outstanding.
Cash per share	$2.39	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$198.8M	Share price x shares outstanding.
Enterprise value	$173.4M	Market cap + total debt - cash - short-term investments.
P/E	8.00x	Market cap / net income. Only when net income is positive.
P/S	2.57x	Market cap / revenue.
P/B	2.45x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.45x	Market cap / tangible book value, when positive.
P/OCF	19.1x	Market cap / cash from operations, when positive.
EV/Sales	2.24x	Enterprise value / revenue.
EV/EBIT	10.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.3x	Enterprise value / EBITDA, when both are positive.
Earnings yield	12.5%	Net income / market cap (the inverse of P/E).

What was Comstock Holding Companies, Inc.'s revenue in fiscal 2025?

Comstock Holding Companies, Inc. reported revenue of $62.9M for fiscal 2025, 22.6% higher than the year before.

Was Comstock Holding Companies, Inc. profitable in fiscal 2025?

Yes. Net income was $17.1M, a net margin of 27.1%.

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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