VISKASE HOLDINGS INC Financials
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).
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
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
Financial Health Signals
We are recalculating VISKASE HOLDINGS 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.
VISKASE HOLDINGS INC passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
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
Earnings & Revenue
VISKASE HOLDINGS INC reported -$3.4M in net income in fiscal year 2025. This represents a decrease of 538.2% from the prior year.
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
VISKASE HOLDINGS INC held $9.2M in cash against $141.8M in long-term debt as of fiscal year 2025.
VISKASE HOLDINGS INC paid $0.00 per share in dividends in fiscal year 2025.
VISKASE HOLDINGS INC had 74M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
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
ENZN Income Statement
| 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 | 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 | 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 | 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 | N/A | 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.
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 6 computable signals; 3 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 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.