What is Blue Dolphin's earnings per share (EPS)?

Blue Dolphin (BDCO) reported diluted earnings per share of -$0.38 for fiscal year 2025. This represents a 34.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Blue Dolphin Financials

BDCO

Trailing 12 months to June 30, 2026

Revenue $364.9M +22.8% YoY

Net Income $31.9M +12780.6% YoY

EPS (Diluted) $1.77 +410.5% YoY

Free Cash Flow $40.9M +1604.8% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 14, 2026 Currency USD FYE December

Blue Dolphin (BDCO) reported $364.9M in revenue over the twelve months to Jun 30, 2026, up 22.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BDCO FY2025 2026-08-14

Thin-margin operations are being financed through working capital and short-term liabilities, not through heavy reinvestment or abundant cash.

The key shift is that free cash flow nearly matched operating cash flow in FY2025, with capex only $13K; that means the business was not drained by expansion spending. Cash pressure instead sits in the balance-sheet cycle: inventory plus receivables were $39.2M against just $1.0M of cash, while current liabilities were $68.6M.

FY2023 was a year when profit and cash conversion broadly agreed, with net income of $31.0M and operating cash flow of $20.0M; by FY2024 that relationship broke as operating cash flow fell to -$15.7M. The move to -$766K in FY2025 mainly shows less cash being trapped in operations, not a full return to the earlier earnings shape.

The balance-sheet cushion thinned after FY2023: equity fell from $41.6M to $27.4M by FY2025, while debt-to-equity rose from 1.6x to 2.6x and the current ratio slipped from 0.9x to 0.6x. Because current liabilities were $68.6M out of $71.7M total liabilities in FY2025, the financing load is concentrated in near-term obligations rather than long-dated funding.

Financial Health Signals

Financial health score not available

Blue Dolphin does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Safe

3.22

Blue Dolphin scores 3.22, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

1/7

Blue Dolphin passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Interest Coverage At Risk

N/A

Blue Dolphin reported an operating loss of $1.5M against $5.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$279.4M

YoY-12.0%

5Y CAGR+9.8%

10Y CAGR+2.3%

Blue Dolphin generated $279.4M in revenue in fiscal year 2025. This represents a decrease of 12.0% from the prior year.

EBITDA

$1.3M

YoY+189.8%

10Y CAGR-17.5%

Blue Dolphin's EBITDA was $1.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 189.8% from the prior year.

Net Income

Blue Dolphin reported $0 in net income in fiscal year 2025.

EPS (Diluted)

-$0.38

YoY+34.5%

Blue Dolphin earned -$0.38 per diluted share (EPS) in fiscal year 2025. This represents an increase of 34.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$779K

YoY+95.0%

Blue Dolphin recorded an outflow of $779K in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 95.0% from the prior year.

Cash & Debt

$1.0M

YoY+1146.9%

5Y CAGR-1.9%

10Y CAGR-26.0%

Blue Dolphin held $1.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

15M

YoY0.0%

5Y CAGR+3.3%

10Y CAGR+3.6%

Blue Dolphin had 15M shares outstanding in fiscal year 2025. That is unchanged from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Operating Margin

-0.5%

YoY+0.8pp

5Y CAGR+4.0pp

10Y CAGR-4.0pp

Blue Dolphin's operating margin was -0.5% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.

Net Margin

0.0%

YoY0.0pp

5Y CAGR+8.3pp

10Y CAGR-2.0pp

Blue Dolphin's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. That is unchanged from the prior year.

Return on Equity

0.0%

YoY0.0pp

Blue Dolphin's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. That is unchanged from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Capital Allocation

Capital Expenditures

$13K

YoY-71.7%

5Y CAGR-58.7%

10Y CAGR-49.6%

Blue Dolphin invested $13K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 71.7% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

BDCO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BDCO quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$364.9M	$279.4M-12.0%	$317.5M-19.8%	$396.0M-18.8%	$487.5M+62.1%	$300.8M+72.1%	$174.8M-43.5%	$309.3M-9.2%	$340.8M+31.8%	$258.4M+54.0%	$167.9M-24.3%	$221.7M-42.9%	$388.7M-5.1%	$409.5M+16.3%	$352.1M+15382.0%	$2.3M
Cost of Revenue	$317.1M	$270.7M-13.7%	$313.6M-11.4%	$353.9M-19.8%	$441.4M+47.2%	$299.9M+69.6%	$176.9M-40.6%	$297.8M-10.3%	$331.9M+33.6%	$248.4M	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	$44.7M-3.0%	$46.1M+4940.6%	$914K+144.5%	-$2.1M-117.9%	$11.4M+29.6%	$8.8M-11.9%	$10.0M	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$5.3M	$5.3M-17.9%	$6.4M+105.6%	$3.1M+7.5%	$2.9M-3.5%	$3.0M+31.4%	$2.3M-13.5%	$2.7M-18.7%	$3.3M-18.6%	$4.0M+48.5%	$2.7M+77.5%	$1.5M+6.9%	$1.4M-20.4%	$1.8M-13.6%	$2.1M+221.8%	$645K
Operating Income	$38.4M	-$1.5M+64.7%	-$4.3M-111.8%	$36.4M-6.9%	$39.1M+683.4%	-$6.7M+14.7%	-$7.9M-244.0%	$5.5M+113.0%	$2.6M+111.7%	-$21.9M-78.8%	-$12.2M-260.9%	$7.6M-29.3%	$10.7M+384.7%	-$3.8M+71.9%	-$13.4M-1925.7%	-$663K
Interest Expense	$5.0M	$5.4M-11.1%	$6.1M-0.6%	$6.1M+3.7%	$5.9M-5.1%	$6.2M-8.3%	$6.8M+0.2%	$6.8M+100.7%	$3.4M+21.4%	$2.8M+49.4%	$1.9M+6.4%	$1.7M+95.2%	$892K-18.9%	$1.1M+15.2%	$955K+1759.3%	$51K
Income Tax	$7.2M	-$1.3M+14.5%	-$1.5M-215.3%	-$485K-58.0%	-$307K	$0-100.0%	$15K	$0-100.0%	$260K	$0+100.0%	-$3.6M-48.2%	-$2.4M-143.6%	$5.6M+6360.2%	-$89K-822.2%	-$10K-146.3%	$21K
Net Income	$31.9M	$0	$0-100.0%	$31.0M-5.7%	$32.9M+356.1%	-$12.8M+11.2%	-$14.5M-296.4%	$7.4M+1507.5%	-$523K+97.7%	-$22.3M-41.6%	-$15.8M-458.1%	$4.4M-72.1%	$15.8M+513.9%	-$3.8M+79.2%	-$18.3M-10045.2%	$184K
EPS (Diluted)	$1.77	-$0.38+34.5%	-$0.58-127.9%	$2.08-11.1%	$2.34+331.7%	-$1.01+12.2%	-$1.15-274.2%	$0.66+1420.0%	-$0.05+97.6%	-$2.09-38.4%	-$1.51-459.5%	$0.42-72.2%	$1.51+519.4%	-$0.36+79.8%	-$1.78-9000.0%	$0.02

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$144.3M+77.0%	$81.5M+18.5%	$68.8M-2.3%	$70.4M+24.3%	$56.6M-32.4%	$83.7M+12.0%	$74.7M-9.0%	$82.1M
Cost of Revenue	$119.2M+95.6%	$60.9M-8.7%	$66.7M-5.1%	$70.3M+25.5%	$56.0M-27.8%	$77.6M+4.9%	$74.0M-13.4%	$85.4M
SG&A Expenses	$885K-24.5%	$1.2M-26.7%	$1.6M-2.1%	$1.6M+132.0%	$704K-48.0%	$1.4M-54.0%	$2.9M+183.2%	$1.0M
Operating Income	$23.7M+19.0%	$19.9M+14656.9%	-$137K+97.3%	-$5.1M-710.3%	-$629K-114.5%	$4.3M+260.1%	-$2.7M+43.5%	-$4.8M
Interest Expense	$1.3M-8.3%	$1.4M-9.3%	$1.5M+79.3%	$850K-45.3%	$1.6M+6.1%	$1.5M-2.8%	$1.5M-3.5%	$1.6M
Income Tax	$4.9M+27.0%	$3.8M+1898.6%	-$213K+83.2%	-$1.3M-176.7%	-$459K-172.3%	$635K+306.2%	-$308K+77.1%	-$1.3M
Net Income	$17.7M+20.4%	$14.7M+254.6%	$4.2M+188.8%	-$4.7M-171.5%	-$1.7M-176.7%	$2.2M-52.5%	$4.7M+194.5%	-$5.0M
EPS (Diluted)	$1.19+20.2%	$0.99+1090.0%	-$0.10+67.7%	-$0.31-158.3%	-$0.12-180.0%	$0.15+157.7%	-$0.26+23.5%	-$0.34

Not reported in any period shown, so not listed: Gross Profit, R&D Expenses.

BDCO Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BDCO quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$99.1M-2.8%	$101.9M-3.9%	$106.1M+26.4%	$83.9M+26.5%	$66.3M-4.3%	$69.3M-3.0%	$71.4M+1.1%	$70.7M-3.7%	$73.4M-2.6%	$75.4M-15.3%	$89.0M+47.4%	$60.4M+4.7%	$57.7M+2.3%	$56.4M+47.8%	$38.1M
Current Assets	$44.2M-1.3%	$44.8M-9.2%	$49.3M+96.5%	$25.1M+330.8%	$5.8M+4.7%	$5.6M-8.5%	$6.1M+50.4%	$4.0M-42.1%	$7.0M-36.2%	$10.9M-44.2%	$19.6M+33.7%	$14.7M-28.3%	$20.5M+4.1%	$19.7M+274.1%	$5.3M
Cash & Equivalents	$1.0M+1146.9%	$81K-99.6%	$18.7M+3498.7%	$520K-95.0%	$10.5M+845.1%	$1.1M+66.3%	$668K-59.9%	$1.7M-22.4%	$2.1M-64.7%	$6.1M-70.5%	$20.6M+1496.4%	$1.3M+197.5%	$435K+3.3%	$421K+23000.8%	$2K
Inventory	$30.9M-13.4%	$35.7M+45.1%	$24.6M+23.8%	$19.8M+540.5%	$3.1M+191.7%	$1.1M-35.4%	$1.6M+8.9%	$1.5M-51.1%	$3.1M+48.8%	$2.1M-73.4%	$7.8M+144.0%	$3.2M-31.7%	$4.7M+103.7%	$2.3M-49.3%	$4.5M
Accounts Receivable	$8.3M+40.0%	$6.0M+38.6%	$4.3M+274.6%	$1.1M+811.1%	$126K-41.1%	$214K-52.0%	$446K+17.7%	$379K-72.1%	$1.4M-32.9%	$2.0M-62.9%	$5.5M-34.6%	$8.3M-38.2%	$13.5M-12.4%	$15.4M	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Total Liabilities	$71.7M+4.0%	$68.9M+6.9%	$64.5M-12.1%	$73.3M-18.5%	$89.9M+12.3%	$80.1M+17.8%	$68.0M-10.5%	$75.9M-2.9%	$78.1M+33.2%	$58.7M+3.6%	$56.6M+74.6%	$32.4M-28.8%	$45.6M+14.6%	$39.8M+76.9%	$22.5M
Current Liabilities	$68.6M+7.3%	$63.9M+15.3%	$55.4M-21.2%	$70.3M-16.5%	$84.3M+8.3%	$77.8M+18.9%	$65.5M-13.8%	$75.9M-0.8%	$76.5M+56.9%	$48.8M+141.0%	$20.2M+13.1%	$17.9M-37.1%	$28.4M+18.5%	$24.0M+155.9%	$9.4M
Long-Term Debt	N/A	N/A	N/A	$2.3M+177.1%	$838K+136.1%	$355K	$0	$0	$0-100.0%	$1.3M-96.0%	$32.8M+203.9%	$10.8M-22.2%	$13.9M-0.7%	$14.0M+12.3%	$12.5M
Total Equity	$27.4M-17.0%	$33.0M-20.8%	$41.6M+292.9%	$10.6M+144.8%	-$23.6M-119.1%	-$10.8M-409.4%	$3.5M+166.7%	-$5.2M-10.4%	-$4.7M-128.3%	$16.7M-48.4%	$32.4M+15.8%	$28.0M+130.9%	$12.1M-27.1%	$16.6M+6.1%	$15.7M
Retained Earnings	-$12.5M-80.7%	-$6.9M-510.4%	$1.7M+105.8%	-$29.3M+52.9%	-$62.2M-26.0%	-$49.4M-41.4%	-$34.9M+17.4%	-$42.3M-1.3%	-$41.8M-115.0%	-$19.4M-431.5%	-$3.7M+54.6%	-$8.1M+66.2%	-$23.8M-19.0%	-$20.0M-1060.4%	-$1.7M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$130.3M+9.6%	$119.0M+20.1%	$99.1M-5.7%	$105.1M-5.1%	$110.8M+5.0%	$105.6M+3.6%	$101.9M-0.4%	$102.3M
Current Assets	$81.2M+19.4%	$68.0M+54.0%	$44.2M-10.6%	$49.4M-11.7%	$55.9M+10.8%	$50.5M+12.7%	$44.8M-1.2%	$45.3M
Cash & Equivalents	$30.7M+7559.6%	$401K-60.3%	$1.0M-56.5%	$2.3M+183.8%	$819K-36.6%	$1.3M+1493.8%	$81K-88.1%	$683K
Inventory	$33.1M-12.4%	$37.7M+22.1%	$30.9M-8.9%	$33.9M-17.8%	$41.2M+9.1%	$37.8M+5.9%	$35.7M+4.9%	$34.0M
Accounts Receivable	$12.5M-53.6%	$27.0M+223.2%	$8.3M-9.4%	$9.2M+2.3%	$9.0M+6.0%	$8.5M+42.6%	$6.0M-18.3%	$7.3M
Total Liabilities	$70.5M-8.3%	$76.9M+7.2%	$71.7M-6.0%	$76.3M-1.3%	$77.3M+9.9%	$70.4M+2.1%	$68.9M+5.4%	$65.4M
Current Liabilities	$65.3M-12.3%	$74.5M+8.6%	$68.6M-5.4%	$72.4M-0.4%	$72.7M+11.9%	$65.0M+1.7%	$63.9M+80.5%	$35.4M
Total Equity	$59.8M+42.1%	$42.1M+53.8%	$27.4M-5.0%	$28.8M-14.0%	$33.5M-4.9%	$35.2M+6.8%	$33.0M-10.6%	$36.9M
Retained Earnings	$19.9M+811.7%	$2.2M+117.4%	-$12.5M-13.0%	-$11.1M-72.8%	-$6.4M-36.6%	-$4.7M+32.3%	-$6.9M-128.9%	-$3.0M

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

BDCO Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BDCO quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$41.6M	-$766K+95.1%	-$15.7M-178.4%	$20.0M+22.9%	$16.3M+368.7%	-$6.1M-55.2%	-$3.9M+52.4%	-$8.2M-914.9%	$1.0M+120.3%	-$4.9M-27.4%	-$3.9M-155.0%	$7.1M-10.3%	$7.9M+667.6%	$1.0M+1420.7%	$67K-73.3%	$252K
Capital Expenditures	$116K	$13K-71.7%	$46K-54.9%	$102K0.0%	$102K	$0-100.0%	$1.1M-31.1%	$1.6M-22.4%	$2.0M-50.3%	$4.1M-72.9%	$15.0M+22.8%	$12.2M+611.8%	$1.7M+16.4%	$1.5M-48.2%	$2.9M+1057.2%	$246K
Free Cash Flow	$40.9M	-$779K+95.0%	-$15.7M-179.0%	$19.9M+23.1%	$16.2M+367.0%	-$6.1M-21.5%	-$5.0M+48.9%	-$9.8M-853.5%	-$1.0M+88.7%	-$9.0M+52.3%	-$18.9M-264.4%	-$5.2M-184.6%	$6.1M+1452.5%	-$454K+83.7%	-$2.8M-48210.8%	$6K
Investing Cash Flow	-$116K	-$13K+71.7%	-$46K+54.9%	-$102K0.0%	-$102K	$0+100.0%	-$1.1M+31.1%	-$1.6M+22.4%	-$2.0M+16.6%	-$2.4M+82.8%	-$14.1M-24.0%	-$11.4M-561.0%	-$1.7M-34.7%	-$1.3M-8.4%	-$1.2M+66.4%	-$3.5M
Financing Cash Flow	-$11.6M	$1.7M+190.7%	-$1.9M+29.2%	-$2.7M+81.6%	-$14.7M-394.0%	$5.0M-7.9%	$5.4M-38.1%	$8.8M+1514.5%	$543K-84.2%	$3.4M+0.6%	$3.4M-84.9%	$22.7M+529.2%	-$5.3M-2079.8%	$267K-82.6%	$1.5M-53.0%	$3.3M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$38.2M+4497.1%	$831K-52.9%	$1.8M+115.8%	$818K+150.4%	-$1.6M+6.1%	-$1.7M-309.1%	$826K+806.0%	-$117K
Capital Expenditures	$121K+1000.0%	$11K-96.6%	-$323K+5.2%	$307K+958.6%	$29K	$0-100.0%	$46K	$0
Free Cash Flow	$38.1M+4544.0%	$820K-43.1%	$1.4M+182.2%	$511K+131.0%	-$1.7M+4.4%	-$1.7M-321.4%	$780K+766.7%	-$117K
Investing Cash Flow	-$121K-1000.0%	-$11K-103.4%	$323K+205.2%	-$307K-958.6%	-$29K	$0+100.0%	-$46K	$0
Financing Cash Flow	-$7.8M-443.5%	-$1.4M+57.6%	-$3.4M-439.1%	$994K-15.7%	$1.2M-59.9%	$2.9M+312.5%	-$1.4M-296.9%	$702K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

BDCO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

BDCO quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	N/A	N/A	11.3%+1.8pp	9.4%+9.2pp	0.3%+1.5pp	-1.2%-4.9pp	3.7%+1.1pp	2.6%-1.3pp	3.9%	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-0.5%+0.8pp	-1.4%-10.5pp	9.2%+1.2pp	8.0%+10.3pp	-2.2%+2.3pp	-4.5%-6.3pp	1.8%+1.0pp	0.8%+9.2pp	-8.5%-1.2pp	-7.3%-10.7pp	3.4%+0.7pp	2.8%+3.7pp	-0.9%+2.9pp	-3.8%+25.3pp	-29.2%
Net Margin	0.0%0.0pp	0.0%-7.8pp	7.8%+1.1pp	6.8%+11.0pp	-4.3%+4.0pp	-8.3%-10.7pp	2.4%+2.5pp	-0.1%+8.5pp	-8.6%+0.7pp	-9.4%-11.4pp	2.0%-2.1pp	4.0%+5.0pp	-0.9%+4.3pp	-5.2%-13.3pp	8.1%
Return on Equity	0.0%0.0pp	0.0%-74.6pp	74.6%-236.1pp	310.6%	N/A	N/A	211.2%	N/A	N/A	-94.4%-108.0pp	13.6%-42.8pp	56.4%+87.8pp	-31.4%+78.6pp	-110.0%-111.2pp	1.2%
Return on Assets	0.0%0.0pp	0.0%-29.2pp	29.2%-10.0pp	39.2%+58.6pp	-19.4%+1.5pp	-20.9%-31.2pp	10.3%+11.0pp	-0.7%+29.7pp	-30.4%-9.5pp	-20.9%-25.9pp	5.0%-21.1pp	26.1%+32.7pp	-6.6%+25.8pp	-32.4%-32.9pp	0.5%
Current Ratio	0.64-0.1x	0.70-0.2x	0.89+0.5x	0.36+0.3x	0.070.0x	0.070.0x	0.090.0x	0.050.0x	0.09-0.1x	0.22-0.7x	0.97+0.1x	0.82+0.1x	0.72-0.1x	0.82+0.3x	0.56
Debt-to-Equity	2.62+0.5x	2.09+0.5x	1.55+1.3x	0.22	N/A	N/A	0.00	N/A	N/A	0.08-0.9x	1.01+0.6x	0.39-0.8x	1.15+0.3x	0.840.0x	0.80
FCF Margin	-0.3%+4.7pp	-5.0%-10.0pp	5.0%+1.7pp	3.3%+5.3pp	-2.0%+0.8pp	-2.9%+0.3pp	-3.2%-2.9pp	-0.3%+3.2pp	-3.5%+7.8pp	-11.3%-8.9pp	-2.3%-3.9pp	1.6%+1.7pp	-0.1%+0.7pp	-0.8%-1.0pp	0.3%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Margin	16.4%-8.0pp	24.5%+24.7pp	-0.2%+7.0pp	-7.2%-6.1pp	-1.1%-6.3pp	5.2%+8.8pp	-3.6%+2.2pp	-5.8%
Net Margin	12.3%-5.8pp	18.1%+12.0pp	6.0%+12.7pp	-6.7%-3.6pp	-3.0%-5.7pp	2.7%-3.6pp	6.3%+12.4pp	-6.1%
Return on Equity	29.6%-5.3pp	35.0%+19.8pp	15.2%+31.4pp	-16.2%-11.1pp	-5.1%-11.5pp	6.4%-8.0pp	14.3%+27.9pp	-13.6%
Return on Assets	13.6%+1.2pp	12.4%+8.2pp	4.2%+8.6pp	-4.5%-2.9pp	-1.6%-3.7pp	2.1%-2.5pp	4.6%+9.5pp	-4.9%
Current Ratio	1.24+0.3x	0.91+0.3x	0.640.0x	0.68-0.1x	0.770.0x	0.78+0.1x	0.70-0.6x	1.28
Debt-to-Equity	1.18-0.6x	1.83-0.8x	2.620.0x	2.65+0.3x	2.31+0.3x	2.00-0.1x	2.09+0.3x	1.77
FCF Margin	26.4%+25.4pp	1.0%-1.1pp	2.1%+1.4pp	0.7%+3.6pp	-2.9%-0.9pp	-2.1%-3.1pp	1.0%+1.2pp	-0.1%

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.64), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Where Blue Dolphin Ranks

Frequently Asked Questions

What is Blue Dolphin's annual revenue?

Blue Dolphin (BDCO) reported $279.4M in total revenue for fiscal year 2025. This represents a -12.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Blue Dolphin's revenue growing?

Blue Dolphin (BDCO) revenue declined by 12.0% year-over-year, from $317.5M to $279.4M in fiscal year 2025.

Is Blue Dolphin profitable?

No, Blue Dolphin (BDCO) reported a net income of $0 in fiscal year 2025, with a net profit margin of 0.0%.

What is Blue Dolphin's EBITDA?

Blue Dolphin (BDCO) had EBITDA of $1.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Blue Dolphin's operating margin?

Blue Dolphin (BDCO) had an operating margin of -0.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Blue Dolphin's net profit margin?

Blue Dolphin (BDCO) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Blue Dolphin's return on equity (ROE)?

Blue Dolphin (BDCO) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Blue Dolphin's free cash flow?

Blue Dolphin (BDCO) recorded an outflow of $779K in free cash flow during fiscal year 2025. This represents a 95.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Blue Dolphin's operating cash flow?

Blue Dolphin (BDCO) recorded an outflow of $766K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Blue Dolphin's total assets?

Blue Dolphin (BDCO) had $99.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Blue Dolphin's capital expenditures?

Blue Dolphin (BDCO) invested $13K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Blue Dolphin have outstanding?

Blue Dolphin (BDCO) had 15M shares outstanding as of fiscal year 2025.

What is Blue Dolphin's current ratio?

Blue Dolphin (BDCO) had a current ratio of 0.64 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Blue Dolphin's debt-to-equity ratio?

Blue Dolphin (BDCO) had a debt-to-equity ratio of 2.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Blue Dolphin's return on assets (ROA)?

Blue Dolphin (BDCO) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How does Blue Dolphin's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Blue Dolphin (BDCO) held $1.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $766K over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Blue Dolphin's Altman Z-Score?

Blue Dolphin (BDCO) has an Altman Z-Score of 3.22, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Blue Dolphin's Piotroski F-Score?

Blue Dolphin (BDCO) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Can Blue Dolphin cover its interest payments?

Blue Dolphin (BDCO) reported an operating loss of $1.5M against $5.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.