Capstone Holding Corp. Financials

CAPS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Capstone Holding Corp. (CAPS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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

Financial Profile 18/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Capstone Holding Corp. has an operating margin of -1.4%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -2.6% the prior year.

Growth

Capstone Holding Corp.'s revenue declined 7.2% year-over-year, from $48.4M to $44.9M. This contraction results in a growth score of 8/100.

Liquidity

Capstone Holding Corp.'s current ratio of 1.02 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.

Cash Flow

Capstone Holding Corp. has a free cash flow margin of 8.3%, earning a moderate score of 41/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

5/9

Capstone Holding Corp. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-1.49x

For every $1 of reported earnings, Capstone Holding Corp. generates $-1.49 in operating cash flow ($3.8M OCF vs -$2.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-0.4x

Capstone Holding Corp. earns $-0.4 in operating income for every $1 of interest expense (-$638K vs $1.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Revenue

$44.9M

YoY-7.2%

Capstone Holding Corp. generated $44.9M in revenue in fiscal year 2024. This represents a decrease of 7.2% from the prior year.

EBITDA

-$121K

YoY+84.8%

Capstone Holding Corp.'s EBITDA was -$121K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 84.8% from the prior year.

Free Cash Flow

$3.7M

YoY+156.7%

Capstone Holding Corp. generated $3.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 156.7% from the prior year.

Net Income

-$2.6M

YoY+32.9%

Capstone Holding Corp. reported -$2.6M in net income in fiscal year 2024. This represents an increase of 32.9% from the prior year.

EPS (Diluted)

$-34.87

YoY+4.2%

Capstone Holding Corp. earned $-34.87 per diluted share (EPS) in fiscal year 2024. This represents an increase of 4.2% from the prior year.

Cash & Debt

$11K

YoY-78.8%

5Y CAGR-59.5%

10Y CAGR-53.7%

Capstone Holding Corp. held $11K in cash against $6.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

21.3%

YoY+1.4pp

Capstone Holding Corp.'s gross margin was 21.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the prior year.

Operating Margin

-1.4%

YoY+1.2pp

Capstone Holding Corp.'s operating margin was -1.4% in fiscal year 2024, reflecting core business profitability. This is up 1.2 percentage points from the prior year.

Net Margin

-5.7%

YoY+2.2pp

Capstone Holding Corp.'s net profit margin was -5.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$120K

YoY-42.3%

10Y CAGR+7.2%

Capstone Holding Corp. invested $120K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 42.3% from the prior year.

CAPS Income Statement

Metric	FY24	FY23	FY18	FY17	FY16	FY15
Revenue	$44.9M-7.2%	$48.4M	N/A	$0	N/A	N/A
Cost of Revenue	$35.3M-8.9%	$38.7M	N/A	N/A	N/A	N/A
Gross Profit	$9.6M-0.4%	$9.6M	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	$52K-95.0%	$1.0M-0.2%	$1.0M-11.9%	$1.2M
SG&A Expenses	$10.2M-6.1%	$10.9M+1861.6%	$554K-13.6%	$641K+18.0%	$543K-69.1%	$1.8M
Operating Income	-$638K+49.2%	-$1.3M-793.9%	$181K-89.2%	$1.7M	N/A	N/A
Interest Expense	$1.5M-11.3%	$1.7M	N/A	N/A	N/A	N/A
Income Tax	$442K+88.9%	$234K+350.0%	$52K+44.4%	$36K+164.3%	-$56K+70.8%	-$192K
Net Income	-$2.6M+32.9%	-$3.8M-1105.0%	$380K-78.3%	$1.8M+364.7%	-$663K+76.1%	-$2.8M
EPS (Diluted)	$-34.87+4.2%	$-36.39	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$13.7M+6.2%	$12.9M+62.7%	$7.9M-23.4%	$10.3M-16.3%	$12.3M-4.4%	$12.9M+37.7%	$9.4M	N/A
Cost of Revenue	$10.4M+7.0%	$9.7M+47.9%	$6.6M-20.3%	$8.2M-11.6%	$9.3M-7.9%	$10.1M+32.9%	$7.6M	N/A
Gross Profit	$3.3M+4.0%	$3.1M+136.2%	$1.3M-35.9%	$2.1M-30.9%	$3.0M+8.3%	$2.8M+58.4%	$1.7M	N/A
R&D Expenses	$865K-26.2%	$1.2M+86.0%	$630K	N/A	$958K+124.4%	$427K+6.5%	$401K	N/A
SG&A Expenses	$3.4M-0.6%	$3.4M+23.1%	$2.8M+13.9%	$2.4M-6.4%	$2.6M-6.2%	$2.8M+11.7%	$2.5M	N/A
Operating Income	-$768K-195.4%	-$260K+81.8%	-$1.4M-310.3%	-$348K-184.3%	$413K+2850.0%	$14K+102.0%	-$717K	N/A
Interest Expense	$594K+35.0%	$440K+46.7%	$300K-10.4%	$335K-10.4%	$374K-5.1%	$394K+3.7%	$380K	N/A
Income Tax	$0	$0	$0-100.0%	$420K+8300.0%	$5K+400.0%	$1K-93.8%	$16K	N/A
Net Income	-$2.0M-187.7%	-$700K+59.5%	-$1.7M-56.7%	-$1.1M-3344.1%	$34K+108.9%	-$381K+65.8%	-$1.1M	N/A
EPS (Diluted)	$-0.35-169.2%	$-0.13+72.3%	$-0.47	$-7.20-13.7%	$-6.33+24.9%	$-8.43+34.7%	$-12.91	N/A

CAPS Balance Sheet

Metric	FY24	FY23	FY18	FY17	FY16	FY15
Total Assets	$47.2M-10.4%	$52.7M+3468.1%	$1.5M-5.9%	$1.6M+32.7%	$1.2M-33.1%	$1.8M
Current Assets	$12.8M-25.1%	$17.1M+1087.9%	$1.4M+4.7%	$1.4M+65.6%	$829K-34.1%	$1.3M
Cash & Equivalents	$11K-78.8%	$52K-96.1%	$1.3M+5.2%	$1.3M+82.7%	$698K-31.0%	$1.0M
Inventory	$9.6M-29.9%	$13.8M	N/A	N/A	N/A	N/A
Accounts Receivable	$2.8M+7.0%	$2.6M	N/A	N/A	N/A	N/A
Goodwill	$23.3M0.0%	$23.3M	N/A	N/A	N/A	N/A
Total Liabilities	$50.3M0.0%	$50.3M+1747.3%	$2.7M+11.2%	$2.4M+87.7%	$1.3M+3.4%	$1.3M
Current Liabilities	$12.6M-21.4%	$16.0M+6392.7%	$246K+23.6%	$199K-34.5%	$304K+16.5%	$261K
Long-Term Debt	$6.3M+23.6%	$5.1M+106.6%	$2.5M+10.0%	$2.2M+124.9%	$1.0M	N/A
Total Equity	-$3.1M-225.5%	$2.4M+295.9%	-$1.2M-41.5%	-$879K-620.5%	-$122K-124.1%	$506K
Retained Earnings	-$196.1M-2.9%	-$190.6M+0.6%	-$191.8M-0.2%	-$191.4M-0.9%	-$189.6M-0.4%	-$189.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$58.5M+12.7%	$51.9M-0.6%	$52.2M+10.6%	$47.2M+480.6%	$8.1M+1056.9%	$703K-42.4%	$1.2M-97.7%	$52.7M
Current Assets	$19.1M+15.6%	$16.5M-1.1%	$16.7M+30.5%	$12.8M+76.2%	$7.3M+933.6%	$703K-42.4%	$1.2M-92.9%	$17.1M
Cash & Equivalents	$730K-5.6%	$773K-55.7%	$1.7M+15754.5%	$11K-15.4%	$13K-95.7%	$305K+916.7%	$30K-42.3%	$52K
Inventory	$12.2M+26.9%	$9.6M-2.0%	$9.8M+1.5%	$9.6M	N/A	N/A	N/A	$13.8M
Accounts Receivable	$5.8M+5.2%	$5.5M+21.4%	$4.5M+63.6%	$2.8M	N/A	N/A	N/A	$2.6M
Goodwill	$26.0M+11.8%	$23.3M0.0%	$23.3M0.0%	$23.3M	N/A	N/A	N/A	$23.3M
Total Liabilities	$31.3M+22.3%	$25.6M+1.5%	$25.2M-49.8%	$50.3M+24307.3%	$206K-94.1%	$3.5M+4.4%	$3.3M-93.4%	$50.3M
Current Liabilities	$20.0M+18.0%	$17.0M+15.8%	$14.7M+16.8%	$12.6M+5992.2%	$206K-74.8%	$819K+11.9%	$732K-95.4%	$16.0M
Long-Term Debt	$7.2M+24.1%	$5.8M-22.7%	$7.5M+19.3%	$6.3M	N/A	N/A	N/A	$5.1M
Total Equity	$27.2M+3.4%	$26.3M-2.6%	$27.0M+982.0%	-$3.1M-59.0%	-$1.9M-107.9%	-$925K-329.5%	$403K-83.5%	$2.4M
Retained Earnings	-$201.2M-1.0%	-$199.2M-0.4%	-$198.5M-1.2%	-$196.1M-8.2%	-$181.3M+6.2%	-$193.3M-0.3%	-$192.6M-1.1%	-$190.6M

CAPS Cash Flow Statement

Metric	FY24	FY23	FY18	FY17	FY16	FY15
Operating Cash Flow	$3.8M+131.6%	$1.6M+2400.0%	$66K+104.2%	-$1.6M-24.0%	-$1.3M+41.5%	-$2.2M
Capital Expenditures	$120K-42.3%	$208K	N/A	N/A	N/A	N/A
Free Cash Flow	$3.7M+156.7%	$1.4M	N/A	N/A	N/A	N/A
Investing Cash Flow	-$120K+42.3%	-$208K	$0	$0	$0	$0
Financing Cash Flow	-$3.7M-164.8%	-$1.4M	$0-100.0%	$2.1M+126.0%	$946K-5.4%	$1.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$0+100.0%	-$1.7M+25.4%	-$2.3M-183.6%	$2.7M+23.0%	$2.2M+1976.6%	$107K+108.6%	-$1.2M-190.2%	-$428K
Capital Expenditures	$0	$0	$0-100.0%	$19K+195.0%	-$20K-195.2%	$21K-79.0%	$100K	N/A
Free Cash Flow	$0+100.0%	-$1.3M-68.9%	-$768K-128.3%	$2.7M+23.3%	$2.2M+2460.5%	$86K+106.4%	-$1.3M	N/A
Investing Cash Flow	-$2.4M	$0	$0+100.0%	-$19K-195.0%	$20K+195.2%	-$21K+79.0%	-$100K	$0
Financing Cash Flow	$2.4M+225.1%	$737K-81.7%	$4.0M+247.9%	-$2.7M-21.9%	-$2.2M-1821.6%	-$116K-108.8%	$1.3M+8906.7%	-$15K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0	$0	$0	$0	$0	$0	N/A

CAPS Financial Ratios

Metric	FY24	FY23	FY18	FY17	FY16	FY15
Gross Margin	21.3%+1.4pp	19.9%	N/A	N/A	N/A	N/A
Operating Margin	-1.4%+1.2pp	-2.6%	N/A	N/A	N/A	N/A
Net Margin	-5.7%+2.2pp	-7.9%	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-5.4%+1.8pp	-7.2%-33.0pp	25.7%-86.1pp	111.9%+167.9pp	-56.1%+100.7pp	-156.8%
Current Ratio	1.02-0.0	1.07-4.8	5.85-1.1	6.90+4.2	2.73-2.1	4.82
Debt-to-Equity	-2.07-4.2	2.10+4.1	-1.99+0.6	-2.56+5.6	-8.20-10.7	2.49
FCF Margin	8.3%+5.3pp	3.0%	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	23.8%-0.5pp	24.3%+7.6pp	16.8%-3.3pp	20.1%-4.2pp	24.3%+2.8pp	21.4%+2.8pp	18.6%	N/A
Operating Margin	-5.6%-3.6pp	-2.0%+16.1pp	-18.1%-14.7pp	-3.4%-6.7pp	3.4%+3.2pp	0.1%+7.8pp	-7.7%	N/A
Net Margin	-14.8%-9.3pp	-5.5%+16.4pp	-21.9%-11.2pp	-10.7%-11.0pp	0.3%+3.2pp	-3.0%+8.9pp	-11.9%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-3.4%-2.1pp	-1.4%+2.0pp	-3.3%-1.0pp	-2.3%+12.4pp	-14.8%+80.2pp	-95.0%-25.0pp	-70.0%	N/A
Current Ratio	0.95-0.0	0.97-0.2	1.14+0.1	1.02-34.3	35.27+34.4	0.86-0.8	1.67+0.6	1.07
Debt-to-Equity	0.27+0.0	0.22-0.1	0.28+2.3	-2.07-2.1	0.03+1.3	-1.25+0.3	-1.58-3.7	2.10
FCF Margin	0.0%	N/A	N/A	26.3%+8.4pp	17.9%+17.2pp	0.7%+15.0pp	-14.3%	N/A

Note: Shareholder equity is negative (-$3.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Capstone Holding Corp.'s annual revenue?

Capstone Holding Corp. (CAPS) reported $44.9M in total revenue for fiscal year 2024. This represents a -7.2% 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 Capstone Holding Corp.'s revenue growing?

Capstone Holding Corp. (CAPS) revenue declined by 7.2% year-over-year, from $48.4M to $44.9M in fiscal year 2024.

Is Capstone Holding Corp. profitable?

No, Capstone Holding Corp. (CAPS) reported a net income of -$2.6M in fiscal year 2024, with a net profit margin of -5.7%.

What is Capstone Holding Corp.'s earnings per share (EPS)?

Capstone Holding Corp. (CAPS) reported diluted earnings per share of $-34.87 for fiscal year 2024. This represents a 4.2% 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.

What is Capstone Holding Corp.'s EBITDA?

Capstone Holding Corp. (CAPS) had EBITDA of -$121K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Capstone Holding Corp. have?

As of fiscal year 2024, Capstone Holding Corp. (CAPS) had $11K in cash and equivalents against $6.3M in long-term debt.

What is Capstone Holding Corp.'s gross margin?

Capstone Holding Corp. (CAPS) had a gross margin of 21.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Capstone Holding Corp.'s operating margin?

Capstone Holding Corp. (CAPS) had an operating margin of -1.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Capstone Holding Corp.'s net profit margin?

Capstone Holding Corp. (CAPS) had a net profit margin of -5.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Capstone Holding Corp.'s free cash flow?

Capstone Holding Corp. (CAPS) generated $3.7M in free cash flow during fiscal year 2024. This represents a 156.7% 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 Capstone Holding Corp.'s operating cash flow?

Capstone Holding Corp. (CAPS) generated $3.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Capstone Holding Corp.'s total assets?

Capstone Holding Corp. (CAPS) had $47.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Capstone Holding Corp.'s capital expenditures?

Capstone Holding Corp. (CAPS) invested $120K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Capstone Holding Corp.'s current ratio?

Capstone Holding Corp. (CAPS) had a current ratio of 1.02 as of fiscal year 2024, which is considered adequate.

What is Capstone Holding Corp.'s debt-to-equity ratio?

Capstone Holding Corp. (CAPS) had a debt-to-equity ratio of -2.07 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Capstone Holding Corp.'s return on assets (ROA)?

Capstone Holding Corp. (CAPS) had a return on assets of -5.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Capstone Holding Corp.'s debt-to-equity ratio negative or unusual?

Capstone Holding Corp. (CAPS) has negative shareholder equity of -$3.1M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Capstone Holding Corp.'s Piotroski F-Score?

Capstone Holding Corp. (CAPS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Capstone Holding Corp.'s earnings high quality?

Capstone Holding Corp. (CAPS) has an earnings quality ratio of -1.49x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Capstone Holding Corp. cover its interest payments?

Capstone Holding Corp. (CAPS) has an interest coverage ratio of -0.4x, meaning it can struggle to cover its interest obligations. 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.

How financially healthy is Capstone Holding Corp.?

Capstone Holding Corp. (CAPS) scores 18 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.