What is VISKASE HOLDINGS INC's earnings per share (EPS)?

VISKASE HOLDINGS INC (ENZN) reported diluted earnings per share of $-0.07 for fiscal year 2025. This represents a -600.0% 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.

VISKASE HOLDINGS INC Financials

ENZN

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

This page shows VISKASE HOLDINGS INC (ENZN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 ENZN FY2025 2026-04-22

Enzon’s filings show a cash-heavy structure being steadily depleted by operating losses and distributions rather than scaled operations.

From FY2023 to FY2025, operating cash flow swung from $1.3M inflow to -$3.0M outflow, which is the cleaner operating signal because reported revenue was absent or tiny across the recent valid periods. With financing outflows still at $1.3M, that burn translated into a cash balance drop of about $4.3M in FY2025 rather than just an accounting loss.

A liquidity-versus-solvency split dominates the balance sheet: cash was $42.6M while current liabilities were only $731K, so near-term obligations look small relative to available funds. But total liabilities still exceeded total assets by about $2.5M, leaving negative equity and showing that abundant cash does not automatically mean a positive residual for shareholders.

Because assets are almost entirely cash and no capital spending is reported, this looks like a low-capital-intensity cash pool rather than an operating system being fed by reinvestment. That is why the reported operating loss of -$5.3M matters more than sales growth here: with no meaningful revenue base, overhead and distributions are the main forces moving the balance sheet.

Financial Health Signals

Financial Profile 21/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of VISKASE HOLDINGS 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.

Leverage

VISKASE HOLDINGS INC carries a low D/E ratio of 0.97, meaning only $0.97 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

VISKASE HOLDINGS INC's current ratio of 0.97 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

VISKASE HOLDINGS INC generates a -2.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is down from 25.9% the prior year.

Piotroski F-Score Weak

2/9

VISKASE HOLDINGS INC passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.88x

For every $1 of reported earnings, VISKASE HOLDINGS INC generates $0.88 in operating cash flow (-$3.0M OCF vs -$3.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$3.4M

YoY-538.2%

VISKASE HOLDINGS INC reported -$3.4M in net income in fiscal year 2025. This represents a decrease of 538.2% from the prior year.

EPS (Diluted)

$-0.07

YoY-600.0%

VISKASE HOLDINGS INC earned $-0.07 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 600.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$9.2M

YoY-80.3%

5Y CAGR-28.2%

10Y CAGR-2.3%

VISKASE HOLDINGS INC held $9.2M in cash against $141.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.00

VISKASE HOLDINGS INC paid $0.00 per share in dividends in fiscal year 2025.

Shares Outstanding

74M

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+5.3%

VISKASE HOLDINGS INC had 74M 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

N/A

Net Margin

N/A

Return on Equity

-2.3%

YoY-28.2pp

5Y CAGR+15.5pp

10Y CAGR-122.0pp

VISKASE HOLDINGS INC's ROE was -2.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 28.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

ENZN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$26K	N/A	$26K-96.3%	$701K+1248.1%	$52K
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$5.3M-300.2%	-$1.3M-27.1%	-$1.0M-1.2%	-$1.0M-120.0%	-$469K+64.1%	-$1.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$19K-94.5%	$347K+322.4%	-$156K+22.0%	-$200K-2957.1%	$7K0.0%	$7K
Net Income	-$3.4M-538.2%	$778K-43.3%	$1.4M+838.2%	-$186K+60.3%	-$469K+64.2%	-$1.3M
EPS (Diluted)	$-0.07-600.0%	$-0.01	$0.00+100.0%	$-0.02+33.3%	$-0.030.0%	$-0.03

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$86.5M	N/A	N/A	N/A	$94.2M	N/A	N/A	$26K
Cost of Revenue	$77.5M	N/A	N/A	N/A	$79.8M	N/A	N/A	N/A
Gross Profit	$9.0M	N/A	N/A	N/A	$14.4M	N/A	N/A	N/A
R&D Expenses	$558K	N/A	N/A	N/A	$662K	N/A	N/A	N/A
SG&A Expenses	$12.4M	N/A	N/A	N/A	$11.7M	N/A	N/A	N/A
Operating Income	-$4.3M	N/A	-$1.3M+14.9%	-$1.5M+89.4%	-$14.4M	N/A	-$351K-8.0%	-$325K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$748K	N/A	$16K+138.1%	-$42K+97.0%	-$1.4M	N/A	$49K+1125.0%	$4K
Net Income	-$6.7M	N/A	-$824K+16.8%	-$990K+92.7%	-$13.6M	N/A	$254K-8.0%	$276K
EPS (Diluted)	$-0.84	N/A	$-0.020.0%	$-0.02+99.2%	$-2.65	N/A	$0.00	$0.00

ENZN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$402.1M+752.6%	$47.2M-1.1%	$47.7M+0.2%	$47.6M-0.3%	$47.8M-1.0%	$48.2M
Current Assets	$208.6M+342.5%	$47.2M-0.4%	$47.3M-0.1%	$47.4M-0.8%	$47.8M-1.0%	$48.2M
Cash & Equivalents	$9.2M-80.3%	$46.9M-0.3%	$47.0M+0.1%	$47.0M-1.4%	$47.6M-1.0%	$48.1M
Inventory	$96.8M	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$60.2M	N/A	N/A	N/A	N/A	N/A
Goodwill	$3.1M	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$256.3M+480.4%	$44.2M-13.8%	$51.2M+15.9%	$44.2M+3.0%	$42.9M+4.9%	$40.9M
Current Liabilities	$214.5M+12684.1%	$1.7M-2.1%	$1.7M+0.9%	$1.7M+321.6%	$403K-2.2%	$412K
Long-Term Debt	$141.8M	N/A	N/A	N/A	N/A	N/A
Total Equity	$145.8M+4748.5%	$3.0M+185.8%	-$3.5M-202.9%	$3.4M-30.0%	$4.9M-33.9%	$7.4M
Retained Earnings	-$11.9M+83.0%	-$69.9M+1.1%	-$70.7M+1.9%	-$72.0M-0.3%	-$71.9M-0.7%	-$71.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$428.9M+6.6%	$402.1M+820.4%	$43.7M-2.4%	$44.8M-1.6%	$45.5M-3.5%	$47.2M-0.2%	$47.3M+0.6%	$47.0M
Current Assets	$234.6M+12.4%	$208.6M+377.8%	$43.7M-2.4%	$44.7M-1.7%	$45.5M-3.5%	$47.2M+0.4%	$47.0M+0.7%	$46.6M
Cash & Equivalents	$28.6M+210.5%	$9.2M-78.7%	$43.3M-2.3%	$44.3M-1.5%	$45.0M-4.0%	$46.9M+0.5%	$46.6M+0.9%	$46.2M
Inventory	$98.8M+2.2%	$96.8M	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$62.8M+4.4%	$60.2M	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$3.1M-1.9%	$3.1M	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$236.7M-7.7%	$256.3M+474.5%	$44.6M+0.6%	$44.3M+1.8%	$43.6M-1.3%	$44.2M-0.8%	$44.5M+1.3%	$44.0M
Current Liabilities	$116.9M-45.5%	$214.5M+39625.4%	$540K-32.8%	$803K+44.9%	$554K-67.0%	$1.7M+283.1%	$438K+6.8%	$410K
Long-Term Debt	$79.7M-43.8%	$141.8M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$192.2M+31.8%	$145.8M+15901.0%	-$923K-313.7%	$432K-77.9%	$2.0M-35.1%	$3.0M+8.9%	$2.8M-9.1%	$3.0M
Retained Earnings	-$18.6M-56.3%	-$11.9M+83.6%	-$72.2M-1.2%	-$71.4M-1.4%	-$70.4M-0.7%	-$69.9M-0.1%	-$69.8M+0.4%	-$70.1M

ENZN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$3.0M-368.3%	$1.1M-14.0%	$1.3M+298.0%	-$659K-31.5%	-$501K-31.8%	-$380K
Capital Expenditures	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
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$1.3M0.0%	-$1.3M0.0%	-$1.3M	N/A	$0-100.0%	$43.1M
Dividends Paid	$1.3M0.0%	$1.3M0.0%	$1.3M	N/A	$0	$0
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	-$16.3M-2292.2%	-$682K+34.3%	-$1.0M+26.8%	-$1.4M-1200.0%	$129K-42.9%	$226K-44.1%	$404K+67.6%	$241K
Capital Expenditures	$9.0M	N/A	N/A	N/A	$7.4M	N/A	N/A	N/A
Free Cash Flow	-$25.3M	N/A	N/A	N/A	-$7.2M	N/A	N/A	N/A
Investing Cash Flow	-$9.0M	N/A	N/A	N/A	-$7.4M	N/A	N/A	N/A
Financing Cash Flow	$44.7M	$0	$0+100.0%	-$8.5M-217.7%	$7.2M	$0	$0	$0
Dividends Paid	N/A	$0	$0	$0-100.0%	$1.3M	$0	$0	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ENZN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-5103.9%	N/A	-3969.2%-3902.3pp	-66.9%+2442.7pp	-2509.6%
Net Margin	N/A	2992.3%	N/A	-715.4%-648.5pp	-66.9%+2454.3pp	-2521.2%
Return on Equity	-2.3%-28.2pp	25.9%	N/A	-5.5%+4.2pp	-9.6%+8.2pp	-17.8%
Return on Assets	-0.9%-2.5pp	1.7%-1.2pp	2.9%+3.3pp	-0.4%+0.6pp	-1.0%+1.7pp	-2.7%
Current Ratio	0.97-27.1	28.10+0.5	27.62-0.3	27.89-90.6	118.50+1.4	117.07
Debt-to-Equity	0.97-13.7	14.68+29.3	-14.61-27.6	12.97+4.2	8.81+3.3	5.55
FCF Margin	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
Gross Margin	10.4%	N/A	N/A	N/A	15.3%	N/A	N/A	N/A
Operating Margin	-5.0%	N/A	N/A	N/A	-15.3%	N/A	N/A	-1250.0%
Net Margin	-7.7%	N/A	N/A	N/A	-14.4%	N/A	N/A	1061.5%
Return on Equity	-3.5%	N/A	N/A	-229.2%+466.4pp	-695.6%	N/A	9.2%+0.1pp	9.1%
Return on Assets	-1.6%	N/A	-1.9%+0.3pp	-2.2%+27.6pp	-29.8%	N/A	0.5%-0.0pp	0.6%
Current Ratio	2.01+1.0	0.97-79.9	80.86+25.2	55.71-26.5	82.17+54.1	28.10-79.1	107.24-6.5	113.75
Debt-to-Equity	0.41-0.6	0.97+49.3	-48.34-151.0	102.66+80.3	22.31+7.6	14.68-1.4	16.12+1.7	14.46
FCF Margin	-29.2%	N/A	N/A	N/A	-7.7%	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.97), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is VISKASE HOLDINGS INC profitable?

No, VISKASE HOLDINGS INC (ENZN) reported a net income of -$3.4M in fiscal year 2025.

How much debt does VISKASE HOLDINGS INC have?

As of fiscal year 2025, VISKASE HOLDINGS INC (ENZN) had $9.2M in cash and equivalents against $141.8M in long-term debt.

What is VISKASE HOLDINGS INC's return on equity (ROE)?

VISKASE HOLDINGS INC (ENZN) has a return on equity of -2.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is VISKASE HOLDINGS INC's operating cash flow?

VISKASE HOLDINGS INC (ENZN) generated -$3.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are VISKASE HOLDINGS INC's total assets?

VISKASE HOLDINGS INC (ENZN) had $402.1M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does VISKASE HOLDINGS INC have outstanding?

VISKASE HOLDINGS INC (ENZN) had 74M shares outstanding as of fiscal year 2025.

What is VISKASE HOLDINGS INC's current ratio?

VISKASE HOLDINGS INC (ENZN) had a current ratio of 0.97 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is VISKASE HOLDINGS INC's debt-to-equity ratio?

VISKASE HOLDINGS INC (ENZN) had a debt-to-equity ratio of 0.97 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is VISKASE HOLDINGS INC's return on assets (ROA)?

VISKASE HOLDINGS INC (ENZN) had a return on assets of -0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is VISKASE HOLDINGS INC's cash runway?

Based on fiscal year 2025 data, VISKASE HOLDINGS INC (ENZN) had $9.2M in cash against an annual operating cash burn of $3.0M. This gives an estimated cash runway of approximately 37 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 VISKASE HOLDINGS INC's Piotroski F-Score?

VISKASE HOLDINGS INC (ENZN) has a Piotroski F-Score of 2 out of 9, indicating weak 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 VISKASE HOLDINGS INC's earnings high quality?

VISKASE HOLDINGS INC (ENZN) has an earnings quality ratio of 0.88x, 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.

How financially healthy is VISKASE HOLDINGS INC?

VISKASE HOLDINGS INC (ENZN) scores 21 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.