STOCK TITAN

Emerald Holding Inc Financials

EEX
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Emerald Holding Inc (EEX) 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

Profitability Growth Leverage Liquidity Cash Flow Returns 34 / 100
Financial Profile 34/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
33

Emerald Holding Inc has an operating margin of 4.9%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is down from 11.7% the prior year.

Growth
60

Emerald Holding Inc's revenue surged 16.2% year-over-year to $463.4M, reflecting rapid business expansion. This strong growth earns a score of 60/100.

Leverage
49

Emerald Holding Inc has a moderate D/E ratio of 2.58. This balance of debt and equity financing earns a leverage score of 49/100.

Liquidity
11

Emerald Holding Inc's current ratio of 0.81 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 11/100, which could limit financial flexibility.

Cash Flow
47

Emerald Holding Inc has a free cash flow margin of 8.9%, earning a moderate score of 47/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
0

Emerald Holding Inc generates a -9.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 0.6% the prior year.

Altman Z-Score Distress
0.22

Emerald Holding Inc scores 0.22, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($898.5M) relative to total liabilities ($874.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
4/9

Emerald Holding Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
-1.39x

For every $1 of reported earnings, Emerald Holding Inc generates $-1.39 in operating cash flow ($42.6M OCF vs -$30.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
0.5x

Emerald Holding Inc earns $0.5 in operating income for every $1 of interest expense ($22.5M vs $48.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
$463.4M
YoY+16.2%
5Y CAGR+29.5%
10Y CAGR+4.2%

Emerald Holding Inc generated $463.4M in revenue in fiscal year 2025. This represents an increase of 16.2% from the prior year.

EBITDA
$53.5M
YoY-28.8%
10Y CAGR-7.8%

Emerald Holding Inc's EBITDA was $53.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 28.8% from the prior year.

Net Income
-$30.7M
YoY-1495.5%

Emerald Holding Inc reported -$30.7M in net income in fiscal year 2025. This represents a decrease of 1495.5% from the prior year.

EPS (Diluted)
$-0.15
YoY-114.3%

Emerald Holding Inc earned $-0.15 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 114.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$41.4M
YoY-9.0%
10Y CAGR-7.1%

Emerald Holding Inc generated $41.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 9.0% from the prior year.

Cash & Debt
$100.9M
YoY-48.2%
5Y CAGR-19.3%
10Y CAGR+20.0%

Emerald Holding Inc held $100.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
198M
YoY-1.9%

Emerald Holding Inc had 198M shares outstanding in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
4.9%
YoY-6.9pp
5Y CAGR+531.2pp
10Y CAGR-21.9pp

Emerald Holding Inc's operating margin was 4.9% in fiscal year 2025, reflecting core business profitability. This is down 6.9 percentage points from the prior year.

Net Margin
-6.6%
YoY-7.2pp
5Y CAGR+490.7pp
10Y CAGR-13.0pp

Emerald Holding Inc's net profit margin was -6.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.2 percentage points from the prior year.

Return on Equity
-9.1%
YoY-9.6pp
10Y CAGR-13.0pp

Emerald Holding Inc's ROE was -9.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.6 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$17.5M
YoY+26.8%
5Y CAGR+81.0%

Emerald Holding Inc spent $17.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 26.8% from the prior year.

Capital Expenditures
$1.2M
YoY-7.7%
5Y CAGR+5.9%
10Y CAGR+1.8%

Emerald Holding Inc invested $1.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 7.7% from the prior year.

EEX Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $132.7M+71.2% $77.5M-26.5% $105.5M-28.6% $147.7M+38.3% $106.8M+47.1% $72.6M-15.6% $86.0M-35.5% $133.4M
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 $88.7M+72.9% $51.3M+8.9% $47.1M-12.9% $54.1M+56.4% $34.6M-15.2% $40.8M+3.3% $39.5M-28.8% $55.5M
Operating Income -$15.7M-101.3% -$7.8M-176.5% $10.2M-71.5% $35.8M+72.1% $20.8M+542.6% -$4.7M-173.4% $6.4M-73.7% $24.3M
Interest Expense $9.8M-8.4% $10.7M-1.8% $10.9M-37.4% $17.4M+52.6% $11.4M-7.3% $12.3M+2.5% $12.0M-0.8% $12.1M
Income Tax $5.2M+248.6% -$3.5M-275.0% $2.0M-63.0% $5.4M-12.9% $6.2M+267.6% -$3.7M-428.6% -$700K-120.0% $3.5M
Net Income -$30.2M-109.7% -$14.4M-928.6% -$1.4M-109.2% $15.3M+200.0% $5.1M+145.9% -$11.1M-296.4% -$2.8M-125.5% $11.0M
EPS (Diluted) N/A $-0.07-600.0% $-0.01-112.5% $0.08 N/A $-0.05-66.7% $-0.03 $0.00

EEX Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $1.2B-0.4% $1.2B+1.3% $1.2B+1.6% $1.2B+12.8% $1.0B-1.0% $1.1B-0.3% $1.1B-1.6% $1.1B
Current Assets $235.3M+1.5% $231.9M-16.9% $279.0M-32.5% $413.6M+34.8% $306.9M-1.7% $312.3M+0.3% $311.3M-4.6% $326.4M
Cash & Equivalents $100.9M+5.8% $95.4M-39.0% $156.4M-43.5% $276.8M+42.1% $194.8M+3.1% $188.9M-2.2% $193.2M+3.4% $186.8M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $76.0M N/A N/A N/A $57.5M N/A N/A N/A
Goodwill $783.6M+0.3% $781.4M+7.5% $726.7M+20.8% $601.8M+4.9% $573.8M+0.1% $573.4M+1.0% $567.5M+0.3% $565.7M
Total Liabilities $874.0M+3.1% $847.8M+4.3% $812.7M+2.8% $790.9M+19.3% $662.8M-0.9% $668.7M+2.1% $655.0M-44.1% $1.2B
Current Liabilities $288.7M+0.6% $287.0M+8.4% $264.7M+1.8% $260.1M+7.8% $241.3M-2.1% $246.5M+5.7% $233.1M-5.8% $247.4M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $338.8M-8.3% $369.5M-5.1% $389.4M-0.7% $392.1M+1.6% $385.9M-1.3% $391.1M-4.0% $407.6M+549.4% -$90.7M
Retained Earnings -$680.8M-4.6% -$650.6M-2.3% -$636.2M-0.2% -$634.8M+2.4% -$650.1M+0.8% -$655.2M-1.7% -$644.1M-0.4% -$641.3M

EEX Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $12.3M+583.3% $1.8M-88.7% $15.9M+26.2% $12.6M-38.8% $20.6M+126.4% $9.1M-7.1% $9.8M+34.2% $7.3M
Capital Expenditures $600K+100.0% $300K+200.0% $100K-50.0% $200K-71.4% $700K+600.0% $100K-50.0% $200K-33.3% $300K
Free Cash Flow $11.7M+680.0% $1.5M-90.5% $15.8M+27.4% $12.4M-37.7% $19.9M+121.1% $9.0M-6.3% $9.6M+37.1% $7.0M
Investing Cash Flow -$2.1M+96.0% -$53.0M+58.2% -$126.7M-492.1% -$21.4M-872.7% -$2.2M+62.7% -$5.9M-110.7% -$2.8M+80.1% -$14.1M
Financing Cash Flow -$5.4M+33.3% -$8.1M+20.6% -$10.2M-111.2% $90.8M+826.4% -$12.5M-66.7% -$7.5M-1150.0% -$600K+94.3% -$10.6M
Dividends Paid $2.9M-3.3% $3.0M0.0% $3.0M0.0% $3.0M0.0% $3.0M-3.2% $3.1M $0 $0
Share Buybacks $1.3M+160.0% $500K-92.8% $6.9M-21.6% $8.8M+4.8% $8.4M+133.3% $3.6M $0-100.0% $1.8M

EEX Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin -11.8%-1.8pp -10.1%-19.7pp 9.7%-14.6pp 24.2%+4.8pp 19.5%+25.9pp -6.5%-13.9pp 7.4%-10.8pp 18.2%
Net Margin -22.8%-4.2pp -18.6%-17.3pp -1.3%-11.7pp 10.4%+5.6pp 4.8%+20.1pp -15.3%-12.0pp -3.3%-11.5pp 8.3%
Return on Equity -8.9%-5.0pp -3.9%-3.5pp -0.4%-4.3pp 3.9%+2.6pp 1.3%+4.2pp -2.8%-2.2pp -0.7% N/A
Return on Assets -2.5%-1.3pp -1.2%-1.1pp -0.1%-1.4pp 1.3%+0.8pp 0.5%+1.5pp -1.1%-0.8pp -0.3%-1.3pp 1.0%
Current Ratio 0.810.0 0.81-0.2 1.05-0.5 1.59+0.3 1.270.0 1.27-0.1 1.34+0.0 1.32
Debt-to-Equity 2.58+0.3 2.29+0.2 2.09+0.1 2.02+0.3 1.720.0 1.71+0.1 1.61+14.5 -12.91
FCF Margin 8.8%+6.9pp 1.9%-13.0pp 15.0%+6.6pp 8.4%-10.2pp 18.6%+6.2pp 12.4%+1.2pp 11.2%+5.9pp 5.3%

Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Frequently Asked Questions

Emerald Holding Inc (EEX) reported $463.4M in total revenue for fiscal year 2025. This represents a 16.2% 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.

Emerald Holding Inc (EEX) revenue grew by 16.2% year-over-year, from $398.8M to $463.4M in fiscal year 2025.

No, Emerald Holding Inc (EEX) reported a net income of -$30.7M in fiscal year 2025, with a net profit margin of -6.6%.

Emerald Holding Inc (EEX) reported diluted earnings per share of $-0.15 for fiscal year 2025. This represents a -114.3% 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.

Emerald Holding Inc (EEX) had EBITDA of $53.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Emerald Holding Inc (EEX) had an operating margin of 4.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Emerald Holding Inc (EEX) had a net profit margin of -6.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Emerald Holding Inc (EEX) has a return on equity of -9.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Emerald Holding Inc (EEX) generated $41.4M in free cash flow during fiscal year 2025. This represents a -9.0% 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.

Emerald Holding Inc (EEX) generated $42.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Emerald Holding Inc (EEX) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Emerald Holding Inc (EEX) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Emerald Holding Inc (EEX) spent $17.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Emerald Holding Inc (EEX) had 198M shares outstanding as of fiscal year 2025.

Emerald Holding Inc (EEX) had a current ratio of 0.81 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Emerald Holding Inc (EEX) had a debt-to-equity ratio of 2.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Emerald Holding Inc (EEX) had a return on assets of -2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Emerald Holding Inc (EEX) has an Altman Z-Score of 0.22, 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.

Emerald Holding Inc (EEX) has a Piotroski F-Score of 4 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.

Emerald Holding Inc (EEX) has an earnings quality ratio of -1.39x, 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.

Emerald Holding Inc (EEX) has an interest coverage ratio of 0.5x, 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.

Emerald Holding Inc (EEX) scores 34 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.

Back to top