Equus Total Return Inc Financials

EQS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Equus Total Return Inc (EQS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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

Piotroski F-Score Weak

3/9

Equus Total Return Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Mixed

-2.04x

For every $1 of reported earnings, Equus Total Return Inc generates $-2.04 in operating cash flow ($38.2M OCF vs -$18.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$18.8M

YoY-245.0%

Equus Total Return Inc reported -$18.8M in net income in fiscal year 2024. This represents a decrease of 245.0% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$262K

YoY-96.0%

Equus Total Return Inc held $262K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

14M

YoY+0.0%

Equus Total Return Inc had 14M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

EQS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$225K	$0	$0-100.0%	$291K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$189K+42.1%	$133K+2.3%	$130K-7.1%	$140K-16.7%	$168K
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	$138K+452.0%	$25K+525.0%	$4K+33.3%	$3K-88.9%	$27K
Income Tax	$36K+176.9%	$13K-13.3%	$15K-40.0%	$25K+13.6%	$22K
Net Income	-$18.8M-245.0%	$12.9M+1248.0%	-$1.1M-143.6%	$2.6M+121.1%	-$12.3M
EPS (Diluted)	N/A	$0.96+1300.0%	$-0.08-142.1%	$0.19+120.9%	$-0.91

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$42K-28.8%	$59K+22.9%	$48K	N/A	$40K-36.5%	$63K+90.9%	$33K	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$412K+707.8%	$51K+75.9%	$29K	N/A	$63K+85.3%	$34K+6.3%	$32K	N/A
Income Tax	$6K-40.0%	$10K+233.3%	$3K	N/A	$5K-54.5%	$11K-21.4%	$14K	N/A
Net Income	-$8.1M-9319.8%	-$86K-102.2%	$3.9M	N/A	-$9.6M-346.8%	$3.9M+262.8%	-$2.4M	N/A
EPS (Diluted)	$-0.59-5800.0%	$-0.01-104.0%	$0.25	N/A	$-0.70-341.4%	$0.29+270.6%	$-0.17	N/A

EQS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20
Total Assets	$29.9M-68.0%	$93.5M+124.5%	$41.7M+4.9%	$39.7M	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$262K-96.0%	$6.5M-66.0%	$19.2M-18.1%	$23.5M-0.7%	$23.6M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$678K+387.8%	$139K-60.3%	$350K0.0%	$350K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$426K-99.1%	$45.3M+604.2%	$6.4M+91.8%	$3.4M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	$36.4M-24.7%	$48.3M+37.0%	$35.2M-3.1%	$36.4M+7.7%	$33.8M
Retained Earnings	-$45.3M-70.8%	-$26.5M+32.8%	-$39.5M-2.9%	-$38.3M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$31.4M-15.3%	$37.1M+1.6%	$36.5M+21.9%	$29.9M-68.7%	$95.5M-8.0%	$103.8M+4.7%	$99.1M+6.0%	$93.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$329K+376.8%	$69K-89.7%	$667K+154.6%	$262K-77.2%	$1.1M-38.8%	$1.9M-38.4%	$3.0M-53.3%	$6.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$580K-56.0%	$1.3M+28.8%	$1.0M+51.0%	$678K+374.1%	$143K+2.9%	$139K0.0%	$139K0.0%	$139K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.9M+65.7%	$3.0M+29.2%	$2.3M+436.9%	$426K-99.2%	$55.3M+2.4%	$54.1M+1.5%	$53.2M+17.6%	$45.3M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$26.5M-22.3%	$34.1M-0.3%	$34.2M-6.0%	$36.4M-9.5%	$40.2M-19.3%	$49.8M+8.5%	$45.9M-5.0%	$48.3M
Retained Earnings	-$49.5M-19.6%	-$41.4M-0.2%	-$41.3M+8.7%	-$45.3M-30.8%	-$34.6M-38.5%	-$25.0M+13.5%	-$28.9M-9.0%	-$26.5M

EQS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$38.2M+174.4%	-$51.4M-566.7%	-$7.7M-136.5%	$21.1M-14.2%	$24.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$45.0M-215.1%	$39.1M+1016.6%	$3.5M+116.3%	-$21.5M-330.8%	-$5.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$260K+143.5%	-$598K+62.5%	-$1.6M-103.0%	$53.6M+3130.9%	-$1.8M+17.3%	-$2.1M+81.3%	-$11.4M+66.4%	-$33.9M
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	$0	$0-100.0%	$2.0M+103.6%	-$55.0M-5342.4%	$1.0M+7.7%	$974K-87.8%	$8.0M-70.4%	$27.1M
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

EQS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	5755.1%	N/A	N/A	-4224.0%
Return on Equity	N/A	26.8%	N/A	7.1%	N/A
Return on Assets	-62.7%-76.6pp	13.8%+16.5pp	-2.7%-9.2pp	6.5%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.01-0.9	0.94+0.8	0.18+0.1	0.09	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	11.5%	N/A	N/A	7.8%	N/A	N/A
Return on Assets	-25.8%-25.6pp	-0.2%-11.0pp	10.8%	N/A	-10.1%-13.8pp	3.8%+6.2pp	-2.4%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.18+0.1	0.09+0.0	0.07+0.1	0.01-1.4	1.38+0.3	1.09-0.1	1.16+0.2	0.94
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Equus Total Return Inc profitable?

No, Equus Total Return Inc (EQS) reported a net income of -$18.8M in fiscal year 2024.

What is Equus Total Return Inc's operating cash flow?

Equus Total Return Inc (EQS) generated $38.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Equus Total Return Inc's total assets?

Equus Total Return Inc (EQS) had $29.9M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Equus Total Return Inc have outstanding?

Equus Total Return Inc (EQS) had 14M shares outstanding as of fiscal year 2024.

What is Equus Total Return Inc's debt-to-equity ratio?

Equus Total Return Inc (EQS) had a debt-to-equity ratio of 0.01 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Equus Total Return Inc's return on assets (ROA)?

Equus Total Return Inc (EQS) had a return on assets of -62.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Equus Total Return Inc's Piotroski F-Score?

Equus Total Return Inc (EQS) has a Piotroski F-Score of 3 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Equus Total Return Inc's earnings high quality?

Equus Total Return Inc (EQS) has an earnings quality ratio of -2.04x, 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.