Heritage Distilling Holding Company, Inc. (CASK) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 20, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CASK SEC filings page.
Heritage Distilling Holding Company, Inc. (CASK) reported $10.7M in revenue over the twelve months to Mar 31, 2026, up 37.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Gross-margin expansion is being overwhelmed by exceptional operating losses and a balance sheet that does not translate into liquidity
Earnings quality diverged sharply in FY2025: a54.9% gross margin coexisted with a$133.9M operating loss, while operating cash flow was negative$15.3M . The gap implies that a large noncash or accounting item drove much of the reported loss, so net income alone poorly describes the operating cash burden.
Margin improvement did not create operating leverage. Gross margin rose from
The balance-sheet change looks structural, not operational: assets expanded from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Heritage Distilling Holding Company, Inc.'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.
Heritage Distilling Holding Company, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 11/100.
Heritage Distilling Holding Company, Inc.'s revenue surged 20.4% year-over-year to $10.1M, reflecting rapid business expansion. This strong growth earns a score of 71/100.
Heritage Distilling Holding Company, Inc. carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.
Heritage Distilling Holding Company, Inc.'s current ratio of 0.31 is below the typical benchmark, resulting in a score of 2/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Heritage Distilling Holding Company, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 3/100.
Heritage Distilling Holding Company, Inc. posts a -140.2% return on equity (ROE), meaning it loses $140 for every $100 of shareholders' equity. This results in a returns score of 29/100. This is down from 89.7% the prior year.
Heritage Distilling Holding Company, Inc. scores 0.40, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($125.8M) relative to total liabilities ($10.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Heritage Distilling Holding Company, Inc. passes 5 of 9 financial strength tests. 1 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Heritage Distilling Holding Company, Inc. reported a net loss of $137.7M while operations used $15.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Heritage Distilling Holding Company, Inc. reported an operating loss of $133.9M against $1.6M 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
Earnings & Revenue
Heritage Distilling Holding Company, Inc. generated $1.7M in revenue in Q1 2026. This represents an increase of 56.8% from the same quarter a year earlier. Against the prior quarter it is down 63.7%.
Heritage Distilling Holding Company, Inc.'s EBITDA was -$66.4M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2979.9% from the same quarter a year earlier. Against the prior quarter it is up 46.3%.
Heritage Distilling Holding Company, Inc. reported -$66.7M in net income in Q1 2026. This represents a decrease of 2100.6% from the same quarter a year earlier. Against the prior quarter it is up 79.4%.
Heritage Distilling Holding Company, Inc. earned -$134.70 per diluted share (EPS) in Q1 2026.
Cash & Balance Sheet
Heritage Distilling Holding Company, Inc. recorded an outflow of $2.5M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 19.8% from the same quarter a year earlier. Against the prior quarter it is up 67.3%.
Heritage Distilling Holding Company, Inc. held $93K in cash against $2.6M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Heritage Distilling Holding Company, Inc.'s gross margin was 68.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 43.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Heritage Distilling Holding Company, Inc.'s ROE was -205.9% in Q1 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 123.6 percentage points.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Heritage Distilling Holding Company, Inc. reported no capital expenditure in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
CASK 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M+56.8% | $4.7M+52.5% | $3.0M+69.7% | $1.3M-28.3% | $1.1M-36.0% | $3.1M | $1.8M-15.6% | $1.8M |
| Cost of Revenue | $543K-33.8% | $1.5M-46.0% | $1.2M+2.2% | $1.1M0.0% | $820K-36.8% | $2.8M | $1.1M-17.5% | $1.1M |
| Gross Profit | $1.2M+330.0% | $3.2M+850.4% | $1.8M+190.9% | $227K-69.6% | $272K-33.4% | $340K | $630K-12.0% | $748K |
| SG&A Expenses | $2.7M+88.3% | $4.1M-35.0% | $2.0M+36.0% | $4.9M+180.6% | $1.4M-2.6% | $6.4M | $1.4M+10.4% | $1.7M |
| Operating Income | -$66.4M-2608.6% | -$123.7M-1387.8% | -$1.1M+44.8% | -$6.6M-189.4% | -$2.5M-10.1% | -$8.3M | -$2.1M-1.1% | -$2.3M |
| EBITDA | -$66.4M-2979.9% | -$123.7M-1402.9% | -$783K+52.7% | -$6.3M-239.0% | -$2.2M-13.4% | -$8.2M | -$1.7M+3.8% | -$1.8M |
| Interest Expense | $12K-97.6% | N/A | N/A | $595K-6.2% | $523K-12.9% | N/A | N/A | $635K |
| Income Tax | $0 | -$49.4M | $49.4M | $3K-65.9% | $0 | N/A | $0 | $9K |
| Net Income | -$66.7M-2100.6% | -$323.7M-6762.9% | $196.3M+5817.1% | -$7.3M-186.8% | -$3.0M-769.8% | -$4.7M | -$3.4M-0.1% | $8.4M |
| EPS (Basic) | -$134.70+0.5% | N/A | $16.97+110.6% | -$0.77-103.9% | -$135.34-12183.9% | N/A | -$160.41-1684.3% | $19.90 |
| EPS (Diluted) | -$134.70 | N/A | $16.97 | -$0.77-159.7% | -$135.34 | N/A | -$160.41 | $1.29 |
| Diluted Shares (Avg) | 496,228 | N/A | 12M | 11M+140.6% | 24,056 | N/A | 22,097 | 5M |
Not reported in any period shown, so not listed: R&D Expenses.
CASK 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $42.8M+58.0% | $108.8M+288.4% | $482.8M+1453.0% | $26.5M | $27.1M | $28.0M+6.6% | $31.1M | N/A |
| Current Assets | $3.8M+17.6% | $2.7M-29.9% | $4.9M-16.6% | $3.1M | $3.2M | $3.9M-25.7% | $5.9M | N/A |
| Cash & Equivalents | $93K-6.9% | $453K0.0% | $1.7M+5158.8% | $186K+22.6% | $100K-78.1% | $453K+489.5% | $32K+10.8% | $152K |
| Inventory | $1.6M-37.2% | $1.6M-33.5% | $2.3M-36.6% | $2.3M | $2.5M | $2.5M-10.3% | $3.6M | N/A |
| Accounts Receivable | $180K-9.9% | $348K-45.6% | $203K-32.5% | $211K | $199K | $639K-11.5% | $300K | N/A |
| Goodwill | N/A | $0-100.0% | $590K-7.4% | $590K | $590K | $590K | $637K | N/A |
| Total Liabilities | $10.4M-62.2% | $10.5M-61.3% | $62.3M-4.2% | $29.4M | $27.4M | $27.2M-61.0% | $65.1M | N/A |
| Current Liabilities | $8.8M-36.9% | $8.9M-35.7% | $10.4M-77.7% | $16.4M | $13.9M | $13.8M-78.0% | $46.5M | N/A |
| Non-Current Liabilities | $1.6M-88.4% | $1.7M-87.6% | $52.0M+179.8% | $13.0M | $13.5M | $13.4M+95.8% | $18.6M | N/A |
| Long-Term Debt | $2.6M-80.2% | $2.6M-80.6% | $2.6M-82.6% | $13.0M | $13.0M | $13.2M-7.2% | $15.0M | N/A |
| Total Equity | $32.4M+9953.0% | $98.2M+12304.7% | $420.4M+1337.0% | -$2.9M+91.2% | -$329K+99.2% | $792K+101.8% | -$34.0M+11.2% | -$32.7M |
| Retained Earnings | -$278.6M-261.0% | -$211.8M-185.8% | $111.8M+261.1% | -$84.5M | -$77.2M | -$74.1M+0.9% | -$69.4M | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
CASK 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.5M-20.8% | -$7.5M-50.5% | -$4.3M-406.0% | -$1.5M+44.4% | -$2.0M+23.6% | -$5.0M-106.8% | -$845K | -$2.7M |
| Depreciation & Amortization | $31K-89.6% | $23K-72.9% | $366K-13.8% | $379K-15.4% | $297K-9.5% | $85K | $424K+26.1% | $448K |
| Stock-Based Compensation | $943K | N/A | -$77K | N/A | $0 | N/A | $0 | N/A |
| Capital Expenditures | $0-100.0% | $0-100.0% | $46K-82.2% | $11K-96.1% | $17K | $74K | -$260K | $292K |
| Free Cash Flow | -$2.5M-19.8% | -$7.5M-48.3% | -$4.3M-291.2% | -$1.5M+49.4% | -$2.0M+23.0% | -$5.1M | -$1.1M | -$3.0M |
| Investing Cash Flow | $2.3M+3437.9% | $4.4M+6059.6% | -$21.0M-8181.7% | -$10K+96.6% | $65K+1183.7% | -$74K-149.7% | $260K | -$292K |
| Financing Cash Flow | -$11K-100.7% | $1.6M-69.9% | $26.8M+5648.9% | $1.6M-40.7% | $1.6M-46.8% | $5.5M+137.3% | $466K | $2.7M |
| Share Buybacks | N/A | $2K | $0-100.0% | N/A | N/A | $0-100.0% | $1K | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
CASK 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3%+43.4pp | 68.5%+57.5pp | 61.3%+25.5pp | 17.2%-23.4pp | 24.9%+1.0pp | 11.0% | 35.8%+1.5pp | 40.6% |
| Operating Margin | -3877.6% | -2622.6% | -38.4% | -503.0% | -224.5% | -268.8% | -118.1% | -124.7% |
| Net Margin | -3898.1% | -6862.0% | 6566.2% | -551.9% | -277.8% | -152.5% | -194.9% | 456.3% |
| Return on Equity | -205.9% | -329.5%+266.1pp | 46.7% | N/A | N/A | -595.6% | N/A | N/A |
| Return on Assets | -156.1%-144.8pp | -297.6%-280.8pp | 40.6%+51.7pp | -27.5% | -11.2% | -16.8% | -11.0% | N/A |
| Current Ratio | 0.43+0.2x | 0.310.0x | 0.48+0.3x | 0.19 | 0.23 | 0.28+0.2x | 0.13 | N/A |
| Debt-to-Equity | 0.08 | 0.03-16.7x | 0.01 | N/A | N/A | 16.72 | N/A | N/A |
| Asset Turnover | 0.040.0x | 0.04-0.1x | 0.01-0.1x | 0.05 | 0.04 | 0.11 | 0.06 | N/A |
| FCF Margin | -143.3% | -159.1% | -144.6% | -115.3% | -187.6% | -163.7% | -62.7% | -163.6% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.31), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Heritage Distilling Holding Company, Inc. CASK | FY2025 | $10.1M | -$137.7M | N/A | $125.8M | 34/100 |
| Beeline Holdings, Inc. BLNE | FY2025 | $7.8M | -$23.4M | N/A | $33.6M | 11/100 |
| Willamette Valley Vineyards WVVI | FY2025 | $37.2M | -$918K | -2.5% | $10.7M | 30/100 |
| Willamette Valley Vineyards, Inc. Series A Redeemable Preferred Stock WVVIP | FY2025 | $37.2M | -$918K | -2.5% | N/A | 30/100 |
| MGP Ingredients Inc MGPI | FY2025 | $536.4M | -$107.8M | -20.1% | $302.6M | 45/100 |
Where Heritage Distilling Holding Company, Inc. Ranks
Frequently Asked Questions
What is Heritage Distilling Holding Company, Inc.'s annual revenue?
Heritage Distilling Holding Company, Inc. (CASK) reported $10.1M in total revenue for fiscal year 2025. This represents a 20.4% 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 Heritage Distilling Holding Company, Inc.'s revenue growing?
Heritage Distilling Holding Company, Inc. (CASK) revenue grew by 20.4% year-over-year, from $8.4M to $10.1M in fiscal year 2025.
Is Heritage Distilling Holding Company, Inc. profitable?
No, Heritage Distilling Holding Company, Inc. (CASK) reported a net income of -$137.7M in fiscal year 2025.
What is Heritage Distilling Holding Company, Inc.'s EBITDA?
Heritage Distilling Holding Company, Inc. (CASK) had EBITDA of -$132.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Heritage Distilling Holding Company, Inc. have?
As of fiscal year 2025, Heritage Distilling Holding Company, Inc. (CASK) had $453K in cash and equivalents against $2.6M in long-term debt.
What is Heritage Distilling Holding Company, Inc.'s gross margin?
Heritage Distilling Holding Company, Inc. (CASK) had a gross margin of 54.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Heritage Distilling Holding Company, Inc.'s return on equity (ROE)?
Heritage Distilling Holding Company, Inc. (CASK) has a return on equity of -140.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Heritage Distilling Holding Company, Inc.'s free cash flow?
Heritage Distilling Holding Company, Inc. (CASK) recorded an outflow of $15.4M in free cash flow during fiscal year 2025. This represents a -36.0% 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 Heritage Distilling Holding Company, Inc.'s operating cash flow?
Heritage Distilling Holding Company, Inc. (CASK) recorded an outflow of $15.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Heritage Distilling Holding Company, Inc.'s total assets?
Heritage Distilling Holding Company, Inc. (CASK) had $108.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Heritage Distilling Holding Company, Inc.'s capital expenditures?
Heritage Distilling Holding Company, Inc. (CASK) invested $75K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Heritage Distilling Holding Company, Inc.'s current ratio?
Heritage Distilling Holding Company, Inc. (CASK) had a current ratio of 0.31 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Heritage Distilling Holding Company, Inc.'s debt-to-equity ratio?
Heritage Distilling Holding Company, Inc. (CASK) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Heritage Distilling Holding Company, Inc.'s return on assets (ROA)?
Heritage Distilling Holding Company, Inc. (CASK) had a return on assets of -126.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Heritage Distilling Holding Company, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Heritage Distilling Holding Company, Inc. (CASK) held $453K in cash, cash equivalents and investments, and reported an operating cash outflow of $15.3M over that year. Dividing the one by the other, the reported balance equals about 0 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 Heritage Distilling Holding Company, Inc.'s Altman Z-Score?
Heritage Distilling Holding Company, Inc. (CASK) has an Altman Z-Score of 0.40, placing it in the Distress Zone (elevated 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 Heritage Distilling Holding Company, Inc.'s Piotroski F-Score?
Heritage Distilling Holding Company, Inc. (CASK) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Heritage Distilling Holding Company, Inc.'s earnings high quality?
Heritage Distilling Holding Company, Inc. (CASK) reported a net loss of $137.7M while operations used $15.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Heritage Distilling Holding Company, Inc. cover its interest payments?
Heritage Distilling Holding Company, Inc. (CASK) reported an operating loss of $133.9M against $1.6M 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.
How financially healthy is Heritage Distilling Holding Company, Inc.?
Heritage Distilling Holding Company, Inc. (CASK) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.