WisdomTree, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WisdomTree, 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	219	228	274			304	301	349	428	494
Cost of revenue	41.1	42.1	56.7
Gross profit	178	186	217
Selling and marketing	15.6	14.4	13.9	12.2	11.1	14.1	15.3	17.3	20.5	20.5
General and administrative							64.8	71.3	84	89.1
Operating expenses	155	179	213	213	195	215	241	262	290	320
Operating income	63.5	49.1	61.3	53.5	55.1	89.1	60.1	87.5	137	174
Interest expense			7.96	11.2	9.67	12.3	14.9	15.2	18.9	30.4
Interest income	1.11	2.86	3.09	3.33	0.74	2.01	3.32	4.1	6.78	11
Other non-operating income							-36.3	-1.63	0.87	2.03
Pre-tax income	55.6	58.2	51	0.12	-35.2	56.7	40	119	95.4	142
Income tax	29.4	31	14.4	10.5	0.43	6.87	-10.7	16.5	28.7	33.1
Net income	26.2	27.2	36.6	-10.4	-35.7	49.8	50.7	103	66.7	109
EBITDA	64.8	50.5	62.6	54.6	56.1	89.8	60.3	88.4	139	178
EPS, basic	0.19	0.20	0.23	-0.08	-0.25	0.31	0.31	0.66	0.34	0.77
EPS, diluted	0.19	0.20	0.23	-0.08	-0.25	0.31	0.31	0.64	0.33	0.75
Shares, basic (weighted)	134	135	147	152	149	0.14	0.14	145	145	140
Shares, diluted (weighted)	136	136	158	152	149	0.16	0.16	170	159	145
Dividend per share	0.32	0.32	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	92.7	54.2	77.8	75	73.4	141	132	129	181	312
Receivables	17.7	21.3	25.8	26.8	29.5	31.9	30.5	35.5	44.9	64.5
Other current assets	0.56	1.01	0.16	0.21	0.26	0.28	0.39	1.04	1.54	1.72
Total current assets	177	154	118	123	142	304	294	230	318	492
Property, plant and equipment	11.7	10.7	9.12	8.13	7.58	0.56	0.54	0.43	0.34	0.43
Lease right-of-use assets			22	18.2	16.3	0.52	1.45	0.56	0.88	2.76
Goodwill	1.8	1.8	85.9	85.9	85.9	85.9	85.9	86.8	86.8	229
Intangible assets							604	605	606	749
Other non-current assets	0.75	0.79	2.16	0.98	0.18	0.36	0.57	0.46	0.63	0.93
Total assets	250	255	938	935	897	1,038	1,034	944	1,034	1,513
Accounts payable	13.6	20.1	22.5	22	19.6	20.7	36.5	30.1	31.1	29.4
Accrued liabilities	14.7	28.1	18.5	26.5	22.8	32.8	24.1	38.1	39.7	52.4
Total current liabilities	43.5	57.3	62.8	79	74	83.7	148	103	109	282
Long-term debt								24.3	12.2
Lease liabilities				19.1	17.4	0.33	0.34		0.17	1.17
Other non-current liabilities							1.35
Total liabilities	48.4	62	447	465	498	636	596	402	634	1,099
Total debt			195	176	167	319	321
Paid-in capital	225	216	364	353	317	290	292	312	270	189
Retained earnings	-24.7	-24.7	-7.32	-17.7	-53.4	-22.4	13.7	95.7	130	221
Other comprehensive income	-0.04	0.29	0.47	0.95	1.1	0.68	-1.42	-0.55	-1.61	2.23
Shareholders' equity	201	193	358	337	266	269	306	409	400	414
Total equity	201	193	358	337	266	269	306	409	400	414
Total liabilities and equity	250	255	938	935	897	1,038	1,034	944	1,034	1,513
Shares outstanding	136	137	153	155	149	145	0.15	150	146	141

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	26.2	27.2	36.6	-10.4	-35.7	49.8	50.7	103	66.7	109
Depreciation and amortization	1.31	1.4	1.3	1.05	1.02	0.74	0.26	0.87	1.75	3.78
Stock-based compensation	14.9	14.7	13.3	11.6	11.7	10	10.4	16.2	20.7	21.6
Deferred income tax	12.9	8.84	-6.08	-0.35	-2.19	0.32	-1.3	-0.48	-0.4	0.98
Change in receivables	9.78	-3.53	3.8	-0.02	-0.19	-3.51	-0.72	-6.21	-9.04	-2.28
Change in payables							4.46	5.88	4.97
Cash from operations	54.9	48.5	37.5	57.5	47.1	75.3	55.1	85.6	113	148
Capital expenditures	-1.07	-0.3	-0.07	-0.05	-0.47	-0.29	-0.22	-0.11	-0.14	-0.22
Acquisitions	-11.8		-239							-270
Purchases of investments	-20	-8.28					-21.9	-11.2	-0.67	-20.1
Sales and maturities of investments	16.7	4.19	1.11					28.8	0.02
Cash from investing	-89.3	-37	-182	-17.7	10.6	-99.6	-37.7	82	-23.9	-313
Debt issued			200	0
Debt repaid				-21	-179	0	0
Stock issued	0.2	0.53	0.19	0.16	0.29	0.82	0
Share buybacks	-39.4	-7.89	-2.89	-2.34	-31.2	-34.5	-3.42	-3.57	-62.9	-103
Dividends paid	-43.7	-43.8	-19.2	-20.4	-20.1	-19.5	-19.4	-20.1	-19	-17.3
Cash from financing	-82.8	-51.1	169	-43.6	-60.2	92.6	-22.8	-172	-36	290
Exchange rate effect					0.86	-0.96	-3.26	1.19	-1.7	5.84
Net change in cash	-117	-38.5	23.6	-2.81	-1.55	67.3	-8.61	-2.8	51.9	131
Free cash flow	53.8	48.2	37.4	57.4	46.7	75	54.9	85.5	113	148
Interest paid			5.58	8.04	7.09	9.9	12.3	10.7	12.4	17.6
Income taxes paid	15	33.1	14.4	10.1	10.1	8.46	12.5	16.2	32.2	30.3

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 $24.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	38.8%	Operating income / revenue.
EBITDA margin	40.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	20.3%	Pre-tax income / revenue.
Net margin	13.3%	Net income / revenue.
FCF margin	32.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	32.2%	Cash from operations / revenue.
Effective tax rate	34.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	19.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.9%	Net income / average total assets.
Return on invested capital (ROIC)	124.8%	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	4.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.1%	Capital expenditures / revenue.
D&A / revenue	1.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	15.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	17.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	26.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	42.6%	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	25.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	28.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	43.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	26.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	63.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	29.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	127.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	34.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	30.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	39.0%	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	25.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	30.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	39.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	25.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	3.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.6%	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	9.2%	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	46.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.5%	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	11.0%	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	-8.8%	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	869.8%	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	-0.5%	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	3.00x	Current assets / current liabilities.
Quick ratio	2.62x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	2.09x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	74.6%	Total liabilities / total assets.
Interest coverage	5.21x	Operating income / interest expense.
Working capital	$282.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	72.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$769.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	1,028x	Revenue / average property, plant and equipment.
Receivables turnover	8.15x	Revenue / average receivables.
Days sales outstanding	45 days	365 x average receivables / revenue.
FCF conversion	242.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.52	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	$3.90	Revenue / diluted weighted shares.
FCF per share	$1.25	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.26	Cash from operations / diluted weighted shares.
Book value per share	$2.76	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$5.08	Tangible book value / shares outstanding.
Cash per share	$1.94	(Cash + short-term investments) / shares outstanding.
Payout ratio	21.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	8.9%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	71.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.69B	Share price x shares outstanding.
Enterprise value	$3.39B	Market cap + total debt - cash - short-term investments.
P/E	45.6x	Market cap / net income. Only when net income is positive.
P/S	6.05x	Market cap / revenue.
P/B	8.81x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	18.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	18.8x	Market cap / cash from operations, when positive.
EV/Sales	5.56x	Enterprise value / revenue.
EV/EBIT	14.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	13.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	17.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.3%	Free cash flow / market cap.
Earnings yield	2.2%	Net income / market cap (the inverse of P/E).
Dividend yield	0.5%	Dividends paid over the period / market cap.
Shareholder yield	4.3%	(Dividends paid + share buybacks) / market cap.
PEG	1.33x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was WisdomTree, Inc.'s revenue in fiscal 2025?

WisdomTree, Inc. reported revenue of $493.8M for fiscal 2025, 15.4% higher than the year before.

Was WisdomTree, Inc. profitable in fiscal 2025?

Yes. Net income was $109.1M, a net margin of 22.1%.

How much free cash flow did WisdomTree, Inc. generate in fiscal 2025?

Cash from operations of $147.9M minus capital expenditures of $215.0K left free cash flow of $147.7M.

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.

Open interactive statements, quarterly figures and charts

Back to WisdomTree, Inc.