Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data LUDWIG ENTERPRISES, 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
FY2023
FY2023
FY2024
FY2025
Revenue
0
Research and development
0.11
0.41
0.17
0.23
Selling and marketing
0.14
0.22
0.26
General and administrative
0.96
1.13
Operating expenses
1.38
1.3
1.77
Operating income
0.56
-1.38
-1.3
-1.77
Interest expense
0.01
0.02
0.06
0.09
Interest income
0.01
Other non-operating income
-0.4
-1
-1.75
-0.46
Pre-tax income
-0.97
-2.38
-3.05
-2.24
Income from continuing operations
-2.38
-3.05
-2.24
Net income
-0.97
-2.46
-3.02
-2.24
EPS, basic
-0.01
-0.02
-0.01
EPS, diluted
-0.01
-0.02
-0.01
Shares, basic (weighted)
159
162
Shares, diluted (weighted)
287
159
162
Balance sheet
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
0.52
0.11
0
0
Inventory
0
0
Other current assets
0
0.03
0.01
Total current assets
0.52
0.11
0.2
0.24
Intangible assets
0.01
Total assets
0.52
0.11
0.2
0.25
Accounts payable
0.01
0.2
0.35
1.6
Total current liabilities
1.34
1.57
2.58
4.64
Long-term debt
0.58
Total liabilities
1.34
1.57
2.58
4.64
Total debt
1.23
0.1
Paid-in capital
0.64
2.62
4.71
4.94
Retained earnings
-1.79
-4.24
-7.26
-9.5
Shareholders' equity
-0.83
-1.46
-2.38
-4.39
Total equity
-0.83
-1.46
-2.38
-4.39
Total liabilities and equity
0.52
0.11
0.2
0.25
Shares outstanding
315
155
161
163
Cash flow statement
FY2023
FY2023
FY2024
FY2025
Net income
-0.97
-2.46
-3.02
-2.24
Change in inventory
-0
-0
Change in payables
0.01
0.2
0.32
0.46
Cash from operations
-0.44
-0.65
-0.66
-0.64
Cash from investing
-0.01
Debt issued
0.21
0.63
Debt repaid
-0.06
Cash from financing
0.84
0.24
0.56
0.65
Net change in cash
0.39
-0.41
-0.1
-0.01
Interest paid
0.01
0.01
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $0.00 on November 9, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-116.8%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Total assets growth, 1y
25.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-21.7%
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
2.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.05x
Current assets / current liabilities.
Quick ratio
0.04x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.04x
(Cash + short-term investments) / current liabilities.
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
-$0.00
Cash from operations / diluted weighted shares.
Book value per share
-$0.02
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
Earnings yield
-220.8%
Net income / market cap (the inverse of P/E).
Was LUDWIG ENTERPRISES, INC. profitable in fiscal 2025?
No. It reported a net loss of $2.2M.
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.