Breakwave Tanker Shipping ETF (BWET) Financials
Newest figures come from the 10-K for FY2026, filed Sep 25, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BWET SEC filings page.
This page shows Breakwave Tanker Shipping ETF (BWET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
The ETF’s reported results reflect investment-value swings, with assets and equity moving alongside gains and losses.
From FY2024 through FY2026, net income switched from gain to loss and back again while the asset base also changed materially. The FY2026 gain of$79.2M occurred with assets of$52.7M and no reported revenue, indicating an investment-portfolio vehicle whose results are shaped by market outcomes rather than a recurring sales-and-cost engine.
The FY2026 net gain was
Liabilities rose from
Financial Health Signals
We do not publish a peer-relative financial health score for Breakwave Tanker Shipping ETF, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
Breakwave Tanker Shipping ETF reported $20.0M in net income in Q4 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 34.1%.
Not reported for Q4 2026.
Not reported for Q4 2026.
Not reported for Q4 2026.
Cash & Balance Sheet
None of these metrics is reported for Q4 2026.
Margins & Returns
Breakwave Tanker Shipping ETF's quarterly ROE was 44.4% in Q4 2026: one quarter's net income over shareholder equity, not annualized. This is up 54.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 14.0 percentage points.
Not reported for Q4 2026.
Not reported for Q4 2026.
Not reported for Q4 2026.
Capital Allocation
None of these metrics is reported for Q4 2026.
BWET Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BWET Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $52.7M-23.2% | $102.7M+59.9% | $36.5M+2.9% | $44.0M+56.5% | $68.6M+61.3% | $64.2M-3.1% | $35.4M-44.2% | $28.1M-58.8% |
| Cash & Equivalents | N/A | N/A | N/A | N/A | N/A | $26.1M-48.3% | $14.9M-46.3% | $23.5M-5.6% |
| Total Liabilities | $7.6M+429.4% | $2.6M+129.4% | $1.3M-57.5% | $3.7M+380.1% | $1.4M+9.4% | $1.1M+61.6% | $3.1M+769.2% | $772K+139.8% |
| Total Equity | $45.1M-32.8% | $100.0M+58.6% | $35.2M+8.7% | $40.3M+47.3% | $67.1M+63.0% | $63.1M-3.8% | $32.4M-48.8% | $27.3M-59.8% |
| Retained Earnings | $103.9M+319.8% | $83.9M+167.8% | $53.5M+110.3% | $47.2M+25.2% | $24.8M-41.4% | $31.3M | $25.4M | $37.7M |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
BWET Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid.
BWET Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 44.4%+54.2pp | 30.4%+21.1pp | 17.9%+55.8pp | 55.7%+72.4pp | -9.8%+10.0pp | 9.3%-5.0pp | -37.9%-108.8pp | -16.7%-17.3pp |
| Return on Assets | 38.0%+47.6pp | 29.6%+20.4pp | 17.3%+51.9pp | 51.0%+67.2pp | -9.6%+9.6pp | 9.2%-5.0pp | -34.6%-105.2pp | -16.2%-16.8pp |
| Liabilities-to-Equity | 0.17+0.1x | 0.030.0x | 0.04-0.1x | 0.09+0.1x | 0.020.0x | 0.020.0x | 0.09+0.1x | 0.030.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Debt-to-Equity, Asset Turnover, FCF Margin.
Where Breakwave Tanker Shipping ETF Ranks
Frequently Asked Questions
Yes, Breakwave Tanker Shipping ETF (BWET) reported a net income of $79.2M in fiscal year 2026.
Breakwave Tanker Shipping ETF (BWET) has a return on equity of 175.5% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
Breakwave Tanker Shipping ETF (BWET) had $52.7M in total assets as of fiscal year 2026, including both current and long-term assets.
Breakwave Tanker Shipping ETF (BWET) had a liabilities-to-equity ratio of 0.17 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2026, because the filing data we hold for that year carries no long-term debt figure.
Breakwave Tanker Shipping ETF (BWET) had a return on assets of 150.3% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.