Breakwave Tanker Shipping ETF Financials
This page shows Breakwave Tanker Shipping ETF (BWET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Breakwave Tanker Shipping ETF's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Breakwave Tanker Shipping ETF carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Breakwave Tanker Shipping ETF's ROE of -26.1% shows moderate profitability relative to equity, earning a score of 33/100. This is down from 112.7% the prior year.
Key Financial Metrics
Earnings & Revenue
Breakwave Tanker Shipping ETF reported -$17.5M in net income in fiscal year 2025. This represents a decrease of 137.7% from the prior year.
Cash & Balance Sheet
Margins & Returns
Breakwave Tanker Shipping ETF's ROE was -26.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 138.8 percentage points from the prior year.
Capital Allocation
BWET Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $30.4M+382.4% | $6.3M-71.9% | $22.5M | N/A | $5.9M+148.1% | -$12.3M-169.2% | -$4.6M | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BWET Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $102.7M+181.6% | $36.5M-17.1% | $44.0M-35.9% | $68.6M+6.8% | $64.2M+81.3% | $35.4M+25.9% | $28.1M-33.9% | $42.5M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | N/A | N/A | N/A | N/A | $26.1M+74.9% | $14.9M-36.6% | $23.5M-28.6% | $33.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.6M+102.7% | $1.3M-64.9% | $3.7M+159.2% | $1.4M+24.5% | $1.1M-62.4% | $3.1M+296.0% | $772K-40.9% | $1.3M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $100.0M+184.6% | $35.2M-12.7% | $40.3M-40.0% | $67.1M+6.5% | $63.1M+94.9% | $32.4M+18.3% | $27.3M-33.6% | $41.2M |
| Retained Earnings | $83.9M+56.8% | $53.5M+13.3% | $47.2M+90.7% | $24.8M-21.0% | $31.3M+23.2% | $25.4M-32.5% | $37.7M-10.8% | $42.3M |
BWET Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | -$13.6M+47.3% | -$25.9M-18702.6% | -$138K+90.1% | -$1.4M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | $24.8M+43.7% | $17.3M+285.7% | -$9.3M+42.5% | -$16.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | $2.4M-50.2% | $4.8M-54.6% | $10.5M-58.0% | $25.1M |
BWET Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | 30.4%+12.5pp | 17.9%-37.8pp | 55.7% | N/A | 9.3%+47.2pp | -37.9%-21.2pp | -16.7% | N/A |
| Return on Assets | 29.6%+12.3pp | 17.3%-33.8pp | 51.0% | N/A | 9.2%+43.8pp | -34.6%-18.4pp | -16.2% | N/A |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.03-0.0 | 0.04-0.1 | 0.09+0.1 | 0.020.0 | 0.02-0.1 | 0.09+0.1 | 0.030.0 | 0.03 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is Breakwave Tanker Shipping ETF profitable?
No, Breakwave Tanker Shipping ETF (BWET) reported a net income of -$17.5M in fiscal year 2025.
What is Breakwave Tanker Shipping ETF's return on equity (ROE)?
Breakwave Tanker Shipping ETF (BWET) has a return on equity of -26.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What are Breakwave Tanker Shipping ETF's total assets?
Breakwave Tanker Shipping ETF (BWET) had $68.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Breakwave Tanker Shipping ETF's debt-to-equity ratio?
Breakwave Tanker Shipping ETF (BWET) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Breakwave Tanker Shipping ETF's return on assets (ROA)?
Breakwave Tanker Shipping ETF (BWET) had a return on assets of -25.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How financially healthy is Breakwave Tanker Shipping ETF?
Breakwave Tanker Shipping ETF (BWET) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.