What is CapForce Inc's earnings per share (EPS)?

CapForce Inc (CFOR) reported diluted earnings per share of $2.32 for fiscal year 2025. This represents a 0.9% 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.

CapForce Inc Financials

CFOR

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows CapForce Inc (CFOR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 CFOR FY2025 2026-06-12

CapForce’s visible FY2025 turnaround is a profit-and-cash mismatch, with strong reported margins but tight working capital.

In the last two years, accounting earnings detached from cash: FY2025 net income reached $23.6M while operating cash flow stayed at -$1.2M. At the same time, the current ratio fell to 0.2x, so the turnaround rebuilt book equity much faster than it improved day-to-day liquidity.

The bigger operating story is a business-model transition. For the three years before the turnaround, CapForce spent more on R&D than it generated in revenue, which fits a buildout phase; by FY2025, R&D was nearly absent and operating margin was 79.6%, pointing to a radically different cost structure rather than gradual scaling of the old one.

The balance sheet looks solvent in aggregate but strained in the short term: total liabilities were only $6.2M against assets of $38.1M. Yet cash was just $531K and current assets did not cover current liabilities, so the practical constraint is near-term funding and working-capital timing, not heavy long-term leverage.

Financial Health Signals

Financial health score pending refresh

We are recalculating CapForce Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

2/7

CapForce Inc passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

-0.05x

For every $1 of reported earnings, CapForce Inc generates $-0.05 in operating cash flow (-$1.2M OCF vs $23.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

2136.8x

CapForce Inc earns $2136.8 in operating income for every $1 of interest expense ($24.0M vs $11K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$30.2M

YoY+481.2%

5Y CAGR+48.3%

10Y CAGR+25.3%

CapForce Inc generated $30.2M in revenue in fiscal year 2025. This represents an increase of 481.2% from the prior year.

EBITDA

$24.2M

YoY+4748.9%

CapForce Inc's EBITDA was $24.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4748.9% from the prior year.

Net Income

$23.6M

YoY+97.0%

CapForce Inc reported $23.6M in net income in fiscal year 2025. This represents an increase of 97.0% from the prior year.

EPS (Diluted)

$2.32

YoY+0.9%

CapForce Inc earned $2.32 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$1.2M

CapForce Inc generated -$1.2M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$531K

YoY-59.5%

5Y CAGR-47.5%

10Y CAGR-23.6%

CapForce Inc held $531K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

10M

YoY+0.0%

CapForce Inc had 10M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

79.6%

YoY+73.3pp

5Y CAGR+618.6pp

10Y CAGR+556.5pp

CapForce Inc's operating margin was 79.6% in fiscal year 2025, reflecting core business profitability. This is up 73.3 percentage points from the prior year.

Net Margin

78.2%

YoY-152.6pp

5Y CAGR+700.1pp

10Y CAGR+627.7pp

CapForce Inc's net profit margin was 78.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 152.6 percentage points from the prior year.

Return on Equity

74.1%

YoY-88.4pp

5Y CAGR+197.8pp

10Y CAGR+305.8pp

CapForce Inc's ROE was 74.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 88.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$7K

YoY-86.5%

5Y CAGR-76.9%

10Y CAGR-49.4%

CapForce Inc invested $7K in research and development in fiscal year 2025. This represents a decrease of 86.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$50K

5Y CAGR-17.4%

10Y CAGR-12.3%

CapForce Inc invested $50K in capex in fiscal year 2025, funding long-term assets and infrastructure.

CFOR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$30.2M+481.2%	$5.2M+52.0%	$3.4M+31.1%	$2.6M-39.5%	$4.3M+2.2%	$4.2M
Cost of Revenue	N/A	N/A	$3.1M-7.1%	$3.3M+44.6%	$2.3M	N/A
Gross Profit	N/A	N/A	$334K+146.9%	-$712K-135.4%	$2.0M	N/A
R&D Expenses	$7K-86.5%	$49K-99.0%	$4.7M-42.1%	$8.2M-25.1%	$10.9M+9.5%	$10.0M
SG&A Expenses	$3.1M-31.0%	$4.5M-43.8%	$8.1M-9.0%	$8.9M-10.6%	$9.9M+12.9%	$8.8M
Operating Income	$24.0M+7299.7%	$325K	N/A	-$34.6M-48.5%	-$23.3M-2.4%	-$22.7M
Interest Expense	$11K+48.8%	$8K-99.6%	$1.8M-43.5%	$3.3M-32.1%	$4.8M+41.2%	$3.4M
Income Tax	$814K+360.7%	$177K	N/A	N/A	$44K-66.9%	$132K
Net Income	$23.6M+97.0%	$12.0M	N/A	-$37.3M-7.1%	-$34.8M-32.8%	-$26.2M
EPS (Diluted)	$2.32+0.9%	$2.30	$-41.47	$-152.70	$-22.89	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$0	N/A	N/A	$4.0M	$0	N/A	N/A	$28K
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	$2K	N/A	N/A	N/A	N/A	N/A	$488-97.9%	$23K
SG&A Expenses	$798K	N/A	$702K+18.0%	$595K+15.9%	$513K	N/A	$769K-51.0%	$1.6M
Operating Income	-$805K	N/A	-$702K-120.6%	$3.4M+750.8%	-$523K	N/A	-$784K+49.3%	-$1.5M
Interest Expense	$995	N/A	$4K+141.3%	$2K-49.9%	$3K	N/A	$3K+200.1%	$1K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$711K	N/A	-$609K-117.3%	$3.5M+960.0%	-$408K	N/A	$8.9M+666.6%	-$1.6M
EPS (Diluted)	$-0.06	N/A	$-0.06-117.6%	$0.34+950.0%	$-0.04	N/A	$1.35	$-1.18

CFOR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$38.1M+285.8%	$9.9M+424.0%	$1.9M-92.7%	$25.8M-64.0%	$71.7M+44.1%	$49.8M
Current Assets	$988K-62.7%	$2.6M+67.7%	$1.6M-85.2%	$10.7M-73.2%	$39.7M+135.3%	$16.9M
Cash & Equivalents	$531K-59.5%	$1.3M+13.8%	$1.2M-84.5%	$7.4M-79.4%	$36.1M+170.1%	$13.4M
Inventory	N/A	N/A	N/A	$3.6M-22.6%	$4.7M+48.5%	$3.2M
Accounts Receivable	$249K+750.3%	$29K-71.7%	$103K-79.9%	$514K-56.1%	$1.2M+79.5%	$653K
Goodwill	N/A	N/A	N/A	$0-100.0%	$7.5M-7.1%	$8.0M
Total Liabilities	$6.2M+149.7%	$2.5M-81.5%	$13.4M-26.3%	$18.2M-40.1%	$30.4M+6.6%	$28.6M
Current Liabilities	$4.6M+618.0%	$634K-94.4%	$11.4M+7.8%	$10.6M-46.8%	$19.9M+170.2%	$7.4M
Long-Term Debt	N/A	N/A	N/A	$4.9M-32.4%	$7.2M-63.0%	$19.4M
Total Equity	$31.9M+331.6%	$7.4M+163.8%	-$11.6M-252.6%	$7.6M-81.6%	$41.2M+94.5%	$21.2M
Retained Earnings	-$269.9M+8.0%	-$293.5M+3.9%	-$305.5M-12.0%	-$272.8M-15.8%	-$235.5M-17.3%	-$200.7M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$37.5M-1.6%	$38.1M+201.1%	$12.6M-4.6%	$13.2M+40.6%	$9.4M-4.5%	$9.9M+80.3%	$5.5M+90.6%	$2.9M
Current Assets	$437K-55.8%	$988K-82.1%	$5.5M-9.7%	$6.1M+173.3%	$2.2M-15.5%	$2.6M-17.7%	$3.2M+461.7%	$573K
Cash & Equivalents	$79K-85.2%	$531K+28.3%	$414K-50.2%	$832K-25.3%	$1.1M-15.1%	$1.3M-19.7%	$1.6M+871.5%	$168K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$254K+2.0%	$249K-93.8%	$4.0M+0.1%	$4.0M+11745.8%	$34K+16.5%	$29K+19.9%	$24K-3.9%	$25K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$6.2M0.0%	$6.2M+149.8%	$2.5M-3.8%	$2.6M+9.0%	$2.4M-4.7%	$2.5M-0.1%	$2.5M-82.9%	$14.5M
Current Liabilities	$4.6M+1.2%	$4.6M+481.9%	$782K-5.4%	$827K+46.8%	$563K-11.1%	$634K+7.5%	$590K-95.3%	$12.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$31.3M-1.9%	$31.9M+213.6%	$10.2M-4.8%	$10.7M+51.2%	$7.1M-4.4%	$7.4M+147.2%	$3.0M+125.6%	-$11.7M
Retained Earnings	-$270.6M-0.3%	-$269.9M+7.3%	-$291.0M-0.2%	-$290.4M+1.2%	-$293.9M-0.1%	-$293.5M+1.5%	-$297.9M+2.9%	-$306.8M

CFOR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$1.2M+75.7%	-$4.9M+66.0%	-$14.3M+30.0%	-$20.4M+4.8%	-$21.5M+8.2%	-$23.4M
Capital Expenditures	$50K	N/A	$800K+35.5%	$591K-70.2%	$2.0M+1421.7%	$130K
Free Cash Flow	-$1.2M	N/A	-$15.1M+28.1%	-$21.0M+10.3%	-$23.5M+0.3%	-$23.5M
Investing Cash Flow	-$49K	N/A	-$800K-35.5%	-$591K+70.2%	-$2.0M-86.5%	-$1.1M
Financing Cash Flow	$497K-90.1%	$5.0M-39.9%	$8.4M+224.3%	-$6.7M-114.2%	$47.5M+39.2%	$34.1M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$364K-77.5%	-$205K+38.5%	-$333K+38.0%	-$538K-399.8%	-$108K+53.7%	-$232K+91.8%	-$2.8M-293.4%	-$720K
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	-$87K-121.0%	$414K+593.0%	-$84K-132.8%	$257K+384.2%	-$90K0.0%	-$90K-102.1%	$4.3M+592.3%	$621K
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	N/A	N/A	N/A	N/A

CFOR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	9.8%+37.1pp	-27.3%-74.0pp	46.7%	N/A
Operating Margin	79.6%+73.3pp	6.3%	N/A	-1325.8%-785.3pp	-540.5%-1.4pp	-539.1%
Net Margin	78.2%-152.6pp	230.8%	N/A	-1430.0%-621.7pp	-808.3%-186.4pp	-621.9%
Return on Equity	74.1%-88.4pp	162.5%	N/A	-492.1%-407.7pp	-84.4%+39.3pp	-123.7%
Return on Assets	62.1%-59.5pp	121.6%	N/A	-144.4%-95.9pp	-48.6%+4.1pp	-52.7%
Current Ratio	0.22-4.0	4.18+4.0	0.14-0.9	1.01-1.0	2.00-0.3	2.29
Debt-to-Equity	0.19-0.1	0.34+1.5	-1.16-1.8	0.64+0.5	0.17-0.7	0.91
FCF Margin	-4.1%	N/A	-442.3%+364.7pp	-807.0%-262.1pp	-544.9%+13.4pp	-558.2%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	85.1%	N/A	N/A	N/A	-5526.1%
Net Margin	N/A	N/A	N/A	87.8%	N/A	N/A	N/A	-5629.8%
Return on Equity	-2.3%	N/A	-6.0%-38.9pp	32.9%+38.7pp	-5.8%	N/A	299.1%	N/A
Return on Assets	-1.9%	N/A	-4.8%-31.3pp	26.5%+30.8pp	-4.3%	N/A	163.3%+218.2pp	-54.9%
Current Ratio	0.09-0.1	0.22-6.8	7.06-0.3	7.39+3.4	3.97-0.2	4.18-1.3	5.46+5.4	0.05
Debt-to-Equity	0.200.0	0.19-0.0	0.240.0	0.24-0.1	0.340.0	0.34-0.5	0.83+2.1	-1.25
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.22), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is CapForce Inc's annual revenue?

CapForce Inc (CFOR) reported $30.2M in total revenue for fiscal year 2025. This represents a 481.2% 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 CapForce Inc's revenue growing?

CapForce Inc (CFOR) revenue grew by 481.2% year-over-year, from $5.2M to $30.2M in fiscal year 2025.

Is CapForce Inc profitable?

Yes, CapForce Inc (CFOR) reported a net income of $23.6M in fiscal year 2025, with a net profit margin of 78.2%.

What is CapForce Inc's EBITDA?

CapForce Inc (CFOR) had EBITDA of $24.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is CapForce Inc's operating margin?

CapForce Inc (CFOR) had an operating margin of 79.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is CapForce Inc's net profit margin?

CapForce Inc (CFOR) had a net profit margin of 78.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is CapForce Inc's return on equity (ROE)?

CapForce Inc (CFOR) has a return on equity of 74.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is CapForce Inc's free cash flow?

CapForce Inc (CFOR) generated -$1.2M in free cash flow during fiscal year 2025. 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 CapForce Inc's operating cash flow?

CapForce Inc (CFOR) generated -$1.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are CapForce Inc's total assets?

CapForce Inc (CFOR) had $38.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are CapForce Inc's capital expenditures?

CapForce Inc (CFOR) invested $50K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does CapForce Inc spend on research and development?

CapForce Inc (CFOR) invested $7K in research and development during fiscal year 2025.

How many shares does CapForce Inc have outstanding?

CapForce Inc (CFOR) had 10M shares outstanding as of fiscal year 2025.

What is CapForce Inc's current ratio?

CapForce Inc (CFOR) had a current ratio of 0.22 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is CapForce Inc's debt-to-equity ratio?

CapForce Inc (CFOR) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is CapForce Inc's return on assets (ROA)?

CapForce Inc (CFOR) had a return on assets of 62.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is CapForce Inc's cash runway?

Based on fiscal year 2025 data, CapForce Inc (CFOR) had $531K in cash against an annual operating cash burn of $1.2M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is CapForce Inc's Piotroski F-Score?

CapForce Inc (CFOR) has a Piotroski F-Score of 2 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.

Are CapForce Inc's earnings high quality?

CapForce Inc (CFOR) has an earnings quality ratio of -0.05x, considered low quality (accrual-driven). 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 CapForce Inc cover its interest payments?

CapForce Inc (CFOR) has an interest coverage ratio of 2136.8x, meaning it can comfortably 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.