Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Grayscale Ethereum Staking ETF 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
FY2022
FY2024
FY2024
FY2025
Operating expenses
134
183
88.6
Net income
-7,702
3,109
2,585
-619
Balance sheet
FY2022
FY2024
FY2024
FY2025
Total assets
3,649
6,758
4,736
2,705
Total liabilities
0
0
0
2.33
Paid-in capital
-1,353
-1,353
Shares outstanding
310
310
169
111
Cash flow statement
FY2022
FY2024
FY2024
FY2025
Net income
-7,702
3,109
2,585
-619
Cash from operations
3,635
1,415
Stock issued
14.7
744
Share buybacks
-3,649
-2,159
Cash from financing
-3,635
-1,415
Net change in cash
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 $21.64 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-46.1%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Net income growth, 1y
-123.9%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-61.1%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-42.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-9.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Liabilities / assets
0.0%
Total liabilities / total assets.
Valuation
Metric
Value
How it is calculated
Market cap
$2.05B
Share price x shares outstanding.
Enterprise value
$2.05B
Market cap + total debt - cash - short-term investments.
Earnings yield
-27.6%
Net income / market cap (the inverse of P/E).
Was Grayscale Ethereum Staking ETF profitable in fiscal 2025?
No. It reported a net loss of $618.8M.
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.