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EQV Ventures Acquisition Corp. II (EVAC) Financials

EVAC
FY2025 annual
Revenue Not reported for FY2025
Net Income $8.9M YoY not available
EPS (Diluted) Not reported for FY2025
Operating Cash Flow -$628K YoY not available
Market Cap $602.6M as of Oct 17, 2026
Price / Sales n/m no revenue reported
Price / Earnings 67.6x on $8.9M net income, FY2025
Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EVAC SEC filings page.

This page shows EQV Ventures Acquisition Corp. II (EVAC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI EVAC FY2025

The filings describe a financing vehicle with nearly $471M of assets, not a conventional revenue-generating operating business.

The balance sheet is structurally unusual: liabilities of $486.6M exceed assets of $470.3M, producing negative equity rather than a conventional capital cushion. Meanwhile, investing cash flow of -$459.5M was almost offset by financing cash flow of $461.2M, indicating that reported activity was dominated by capital movements rather than operating sales.

The reported net income of $8.9M sits alongside operating cash flow of -$627.9K, so accounting profit is not a useful proxy for ordinary operating cash generation here.

Some figures from recent filings were inconsistent and were omitted from this summary.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

EQV Ventures Acquisition Corp. II does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Earnings Quality No Cash Backing

For every $1 of reported earnings, EQV Ventures Acquisition Corp. II used $0.07 of operating cash (-$628K OCF vs $8.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

Net Income
$4.0M
YoY+8316.7%
QoQ+2.8%

EQV Ventures Acquisition Corp. II reported $4.0M in net income in Q2 2026. This represents an increase of 8316.7% from the same quarter a year earlier. Against the prior quarter it is up 2.8%.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$1.1M
YoY+22507.4%
QoQ-24.4%

EQV Ventures Acquisition Corp. II held $1.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Shares Outstanding

Not reported for Q2 2026.

Margins & Returns

None of these metrics is reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

EVAC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EVAC quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
SG&A Expenses$355K+630.7%$428K+55177.8%N/A$304K$49K$774$57K
Operating Income-$355K-630.7%-$428K-55177.8%N/A-$304K-$49K-$774-$57K
Income TaxN/A$0N/AN/AN/AN/AN/A
Net Income$4.0M+8316.7%$3.9M+502224.7%N/A$4.5M-$49K-$774-$57K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

EVAC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EVAC quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Total Assets$478.4M+36913.4%$474.4M$470.3M+129511.8%$465.7M$1.3MN/A$363K
Current Assets$1.3M+18244.9%$1.6M$1.2M$836K$7KN/AN/A
Cash & Equivalents$1.1M+22507.4%$1.5M+28243.5%$1.1M$712K$5K$5KN/A
Short-Term Investments$0$0$0$0$0$0N/A
Long-Term Investments$0$0$0$0$0$0N/A
Total Liabilities$495.1M+35938.0%$490.7M$486.6M+123221.3%$481.8M$1.4MN/A$395K
Current Liabilities$111K$265K$152K-61.4%$122KN/AN/A$395K
Non-Current Liabilities$495.0M$490.5M$486.5M$481.7MN/AN/A$0
Total Equity-$16.6M-20404.5%-$16.3M-49947.2%-$16.4M-51429.2%-$16.1M-$81K-$33K-$32K
Retained Earnings-$16.6M-15518.5%-$16.3M-$16.4M-28545.9%-$16.1M-$107KN/A-$57K

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

EVAC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EVAC quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Operating Cash Flow-$359K-59653.0%-$121K-246.9%-$120K-381.2%-$472K-$600-$35K-$25K
Investing Cash Flow$0$500K$500KN/AN/AN/AN/A
Financing Cash FlowN/AN/A$0-100.0%$461.2M$331$40K$25K

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

EVAC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EVAC quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Return on Assets0.8%+4.6pp0.8%N/A1.0%-3.8%N/A-15.8%
Current Ratio11.365.957.926.85N/AN/AN/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Asset Turnover, FCF Margin.

Note: Shareholder equity is negative (-$16.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Frequently Asked Questions

Is EQV Ventures Acquisition Corp. II profitable?

Yes, EQV Ventures Acquisition Corp. II (EVAC) reported a net income of $8.9M in fiscal year 2025.

What is EQV Ventures Acquisition Corp. II's operating cash flow?

EQV Ventures Acquisition Corp. II (EVAC) recorded an outflow of $628K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are EQV Ventures Acquisition Corp. II's total assets?

EQV Ventures Acquisition Corp. II (EVAC) had $470.3M in total assets as of fiscal year 2025, including both current and long-term assets.

EQV Ventures Acquisition Corp. II (EVAC) had a current ratio of 7.92 as of fiscal year 2025, which is generally considered healthy.

EQV Ventures Acquisition Corp. II (EVAC) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

EQV Ventures Acquisition Corp. II (EVAC) trades at 67.6x earnings, its market capitalization divided by net income of $8.9M net income, FY2025. The market capitalization is $602.6M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

EQV Ventures Acquisition Corp. II (EVAC) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $602.6M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

EQV Ventures Acquisition Corp. II (EVAC) has negative shareholder equity of -$16.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

For every $1 of reported earnings, EQV Ventures Acquisition Corp. II (EVAC) used $0.07 of operating cash (-$628K OCF vs $8.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.

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