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Franklin Bitcoin ETF Financials

EZBC
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE March

This page shows Franklin Bitcoin ETF (EZBC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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 EZBC FY2026

Capital structure reset dominated the period, with leverage collapsing even as profit and cash generation both turned negative.

Between FY2025 and FY2026, net income swung from $109.2M to -$118.5M. Operating cash flow moved the same way, from $40.2M to -$137.0M, so the weaker result was not just an accounting swing; it was accompanied by real cash leaving the structure.

Liabilities fell from $170.7M to just $69.7K. Assets stayed near the same scale, moving from $411.2M to $429.4M. That is a meaningful balance-sheet cleanup: FY2026 ended with far less creditor funding and a much thicker equity cushion than FY2025.

Equity increased from $240.4M to $377.4M even though FY2026 posted a loss. Because financing cash flow also reversed from -$40.2M to $137.0M, the stronger capital base appears to have come from external funding flows rather than from internally generated cash.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score pending refresh

We are recalculating Franklin Bitcoin ETF'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.

Earnings Quality Low Quality
1.16x

For every $1 of reported earnings, Franklin Bitcoin ETF generates $1.16 in operating cash flow (-$137.0M OCF vs -$118.5M 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
-$118.5M
YoY-208.6%

Franklin Bitcoin ETF reported -$118.5M in net income in fiscal year 2026. This represents a decrease of 208.6% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$0

Franklin Bitcoin ETF held $0 in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
10M

Franklin Bitcoin ETF had 10M shares outstanding in fiscal year 2026.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
-31.4%
YoY-76.8pp

Franklin Bitcoin ETF's ROE was -31.4% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 76.8 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$109.3M
YoY-68.6%

Franklin Bitcoin ETF spent $109.3M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 68.6% from the prior year.

Capital Expenditures
N/A

EZBC Income Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
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 N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income N/A -$157.1M-658.9% $28.1M-78.1% $128.3M N/A $213.9M+7904.6% $2.7M+107.4% -$36.3M
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

EZBC Balance Sheet

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Total Assets $429.4M-15.1% $506.0M-23.5% $661.3M+18.2% $559.7M+36.1% $411.2M-42.2% $711.9M+57.4% $452.4M+21.3% $373.1M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $0 $0 $0 $0 $0 $0 $0 $0
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $70K-100.0% $174.9M-46.5% $327.1M+9.4% $299.0M+75.1% $170.7M-29.4% $241.8M+368461.9% $66K+312361.9% $21
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 $377.4M+14.0% $331.1M-0.9% $334.2M+28.2% $260.7M+8.4% $240.4M-48.8% $470.0M+10.7% $424.6M+22.0% $348.1M
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

EZBC Cash Flow Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Operating Cash Flow -$41.2M-1974.6% -$2.0M+97.3% -$73.5M-262.6% -$20.3M-108.8% $229.6M+605.8% -$45.4M+40.7% -$76.6M-13.5% -$67.4M
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 $41.2M+1974.6% $2.0M-97.3% $73.5M+262.6% $20.3M+108.8% -$229.6M-605.8% $45.4M-40.7% $76.6M+13.5% $67.4M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $27.8M+2.9% $27.0M+39.2% $19.4M-45.0% $35.2M-86.4% $259.2M+995.8% $23.7M-24.7% $31.4M-8.4% $34.3M

EZBC Financial Ratios

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
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 -47.4%-55.9pp 8.4%-40.8pp 49.2% N/A 45.5%+44.9pp 0.6%+11.1pp -10.4%
Return on Assets N/A -31.1%-35.3pp 4.3%-18.7pp 22.9% N/A 30.0%+29.5pp 0.6%+10.3pp -9.7%
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.00-0.5 0.53-0.5 0.98-0.2 1.15+0.4 0.71+0.2 0.51+0.5 0.000.0 0.00
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

No, Franklin Bitcoin ETF (EZBC) reported a net income of -$118.5M in fiscal year 2026.

Franklin Bitcoin ETF (EZBC) has a return on equity of -31.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Franklin Bitcoin ETF (EZBC) generated -$137.0M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Franklin Bitcoin ETF (EZBC) had $429.4M in total assets as of fiscal year 2026, including both current and long-term assets.

Yes, Franklin Bitcoin ETF (EZBC) spent $109.3M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Franklin Bitcoin ETF (EZBC) had 10M shares outstanding as of fiscal year 2026.

Franklin Bitcoin ETF (EZBC) had a debt-to-equity ratio of 0.00 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Franklin Bitcoin ETF (EZBC) had a return on assets of -27.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2026 data, Franklin Bitcoin ETF (EZBC) had $0 in cash against an annual operating cash burn of $137.0M. This gives an estimated cash runway of approximately 0 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.

Franklin Bitcoin ETF (EZBC) has an earnings quality ratio of 1.16x, 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.

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