Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Kartoon Studios, 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
0.87
5.34
0.99
5.91
2.48
7.87
62.3
44.1
32.6
39.4
Cost of revenue
0.28
4.26
1.54
4.57
Gross profit
0.59
1.08
-0.54
1.34
Selling and marketing
1.04
0.66
0.74
0.73
0.82
5.44
1.83
2.65
1.24
0.68
General and administrative
6.02
5.33
4.98
7.12
17.4
36
45.9
35.3
25.2
24
Operating expenses
7.33
10.2
9
12.4
20.4
71.6
106
116
49.6
52.3
Operating income
-6.46
-4.91
-8
-6.51
-17.9
-63.8
-43.7
-72.4
-17
-12.9
Interest expense
0
0
1.02
0.81
1.18
0.02
2.33
3.13
0.78
0.66
Interest income
0.02
0.14
2
0.4
0.1
Other non-operating income
0.25
0.01
-1
-4.97
-383
-62.6
1.63
-2.68
-3.21
-11.3
Pre-tax income
-6.21
-4.91
-9
-11.5
-402
-126
-44.4
-78.2
-21
-24.8
Income tax
0
0
0
0
0
0
0.11
-0.97
-0.04
-0.14
Net income to minority interests
0
-0.08
1.07
-0.1
-0.2
-0.17
Net income
-6.21
-4.91
-9
-11.5
-402
-126
-45.6
-77.1
-20.7
-24.5
EBITDA
-6.32
-4.79
-7.92
-6.17
-17.5
-63.2
-41
-69.8
-14.6
-10.3
EPS, basic
-1.59
-0.81
-1.07
-1.25
-2.82
-4.24
-1.45
-2.29
-0.54
-0.49
EPS, diluted
-1.59
-0.81
-1.07
-1.25
-2.82
-4.24
-1.45
-2.29
-0.54
-0.49
Shares, basic (weighted)
3.92
6.08
8.76
11.9
142
29.8
31.4
33.7
38.4
50.2
Shares, diluted (weighted)
3.92
6.08
8.76
11.9
142
29.8
31.4
33.7
38.4
50.2
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
1.89
6.93
3.09
0.31
100
2.06
7.43
4.1
8.39
2.94
Short-term investments
0
113
83.7
12
0.1
Receivables
0.12
2.89
2.16
4.1
1.73
7.63
15.6
18.1
12
9.63
Inventory
0.01
0.02
0.02
0.01
0
Other current assets
0.36
0.26
0.3
0.23
6.38
3.73
2.57
0.74
0.61
0.84
Total current assets
3.38
10.8
5.58
4.65
109
136
140
55.7
34.7
35.8
Property, plant and equipment
0.09
0.09
0.08
0.06
0.1
0.45
2.4
1.88
2.05
1.64
Lease right-of-use assets
0
4.01
1.97
2.79
8.51
7.08
5.85
5.11
Goodwill
10.4
10.4
10.4
10.4
10.4
15.2
33.5
0
Intangible assets
1.85
1.86
0.09
0.05
0.03
9.73
29.2
23
19.7
17.6
Long-term investments
113
Other non-current assets
0.07
0.15
0.13
0.12
0.12
Total assets
17.9
27.7
24.6
29.4
134
174
240
111
85.5
70.9
Accounts payable
0.65
0.45
0.29
0.95
0.79
7.19
16.9
12
12.1
Accrued liabilities
0.25
1.02
0.05
0.12
0.41
0.54
0.9
0.69
0.41
0.74
Deferred revenue
0.41
0.45
0.87
0.66
0.68
0.43
9.07
3.13
6
4.39
Total current liabilities
3.86
2.79
4.61
8.3
7.18
21.1
111
45.6
33.4
33.5
Long-term debt
0
Lease liabilities
0
3.57
2.05
2.46
8.1
6.74
5.36
4.49
Other non-current liabilities
1.01
0.95
0.01
0.01
0.01
Total liabilities
7.88
12.7
11.8
20.3
15
29.4
127
58.2
49
43.4
Paid-in capital
46.7
56.6
63.5
75.1
589
739
762
774
778
794
Retained earnings
-36.6
-41.6
-50.7
-66
-470
-596
-641
-719
-739
-764
Treasury stock
0
-0.29
-0.34
-0.34
-0.6
Other comprehensive income
-0
-0.01
-0.01
-0.01
-0.01
-1.22
-9.93
-3.88
-3.38
-3.24
Shareholders' equity
10.1
15
12.8
9.09
119
143
111
51.6
35
26.2
Minority interests
0
1.92
1.79
1.69
1.49
1.32
Total equity
10.1
15
12.8
9.09
119
145
113
53.3
36.5
27.5
Total liabilities and equity
17.9
27.7
24.6
29.4
134
174
240
111
85.5
70.9
Shares outstanding
4.01
7.61
9.46
21.9
258
30.3
31.9
35.2
46.2
54.9
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-6.21
-4.91
-9
-11.5
-402
-126
-44.5
-77.2
-20.9
-24.7
Depreciation and amortization
0.14
0.13
0.09
0.34
0.38
0.6
2.71
2.55
2.41
2.59
Stock-based compensation
1.58
0.66
-0.02
0.18
8.93
16.5
2.67
0.67
0.33
Deferred income tax
0
-0.05
-0.97
0.01
-0.14
Change in receivables
0.29
-4.53
2.42
-1.94
2.33
0.23
1.68
-2.57
5.91
2.1
Change in inventory
0
-0.01
0
0.01
0.01
0
Change in payables
0.29
-0.27
0.24
0.25
-0.39
-0.17
2.75
5.35
-4.9
0.11
Cash from operations
-3.72
-7.19
-8.01
-6.25
-8.05
-23.8
-25.9
-16.1
-3.49
-11.4
Capital expenditures
-0.01
-0.06
-0.02
-0.03
-0.08
-0.3
-0.59
-0.07
-0.12
-0.15
Acquisitions
-0.3
0
-37.3
0
Purchases of investments
0
-1
-305
0
0
-6.72
Sales and maturities of investments
0
186
14.1
72.1
10
4.84
Cash from investing
-0.01
-0.11
-0.04
-0.03
-1.4
-129
-30.9
73.9
10
-1.63
Debt issued
0
0.23
1.12
Stock issued
5.7
5.7
3.02
98.6
0
Share buybacks
0
-0.29
0
Cash from financing
1.43
11.9
3.64
3.5
110
62.2
54.4
-60.8
-3.13
8.15
Exchange rate effect
0
-0.02
-0.21
-0.3
0.9
-0.55
Net change in cash
-2.3
4.61
-4.41
-2.78
100
-90.4
-2.63
-3.34
4.29
-5.44
Free cash flow
-3.72
-7.25
-8.03
-6.28
-8.13
-24.1
-26.5
-16.2
-3.61
-11.6
Interest paid
0
0
0.27
0.52
0.47
0.02
0.25
1.82
0.13
0.04
Income taxes paid
0
0.02
0.06
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 $0.58 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-39.3%
Operating income / revenue.
EBITDA margin
-32.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
26.9%
Net income / revenue.
FCF margin
80.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
80.7%
Cash from operations / revenue.
Return on equity (ROE)
16.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
9.3%
Net income / average total assets.
Return on invested capital (ROIC)
-22.7%
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%.
Stock-based pay / revenue
0.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.4%
Capital expenditures / revenue.
D&A / revenue
6.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
20.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-14.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
73.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-25.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-38.2%
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
-26.1%
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
-17.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-33.4%
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
-12.0%
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
30.8%
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
17.0%
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
-18.8%
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
2.00x
Current assets / current liabilities.
Quick ratio
0.31x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.25x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
0.6%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.12
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
$0.46
Revenue / diluted weighted shares.
FCF per share
$0.37
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.37
Cash from operations / diluted weighted shares.
Book value per share
$0.84
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
4.10x
Market cap / net income. Only when net income is positive.
P/S
1.10x
Market cap / revenue.
P/B
0.69x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.99x
Market cap / tangible book value, when positive.
P/FCF
1.38x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
1.37x
Market cap / cash from operations, when positive.
EV/Sales
0.87x
Enterprise value / revenue.
EV/FCF
1.08x
Enterprise value / free cash flow, when both are positive.
FCF yield
72.7%
Free cash flow / market cap.
Earnings yield
24.4%
Net income / market cap (the inverse of P/E).
What was Kartoon Studios, Inc.'s revenue in fiscal 2025?
Kartoon Studios, Inc. reported revenue of $39.4M for fiscal 2025, 20.7% higher than the year before.
Was Kartoon Studios, Inc. profitable in fiscal 2025?
No. It reported a net loss of $24.5M.
How much free cash flow did Kartoon Studios, Inc. generate in fiscal 2025?
Cash from operations of $11.4M minus capital expenditures of $151.0K left free cash flow of -$11.6M.
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.