Fidelity Ethereum Fund Financials
This page shows Fidelity Ethereum Fund (FETH) 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).
Financial Health Signals
For every $1 of reported earnings, Fidelity Ethereum Fund generates $2.46 in operating cash flow (-$1.0B OCF vs -$422.3M 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
Fidelity Ethereum Fund reported -$422.3M in net income in fiscal year 2025.
Cash & Balance Sheet
Fidelity Ethereum Fund held $0 in cash against $0 in long-term debt as of fiscal year 2025.
Fidelity Ethereum Fund had 75M shares outstanding in fiscal year 2025.
Margins & Returns
Fidelity Ethereum Fund's ROE was -19.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Fidelity Ethereum Fund spent $3.3B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
FETH Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Revenue | 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 |
| Gross Profit | 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 |
| SG&A Expenses | 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 |
| Interest Expense | 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 |
| Net Income | N/A | $873.0M+253.2% | $247.2M+137.2% | -$665.3M | N/A | -$58.6M | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
FETH Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $2.2B-29.9% | $3.2B+149.3% | $1.3B+70.9% | $740.5M-53.8% | $1.6B+278.0% | $424.5M+9618.2% | $4.4M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | 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 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.7M+303.9% | $662K-97.4% | $25.9M+294.4% | $6.6M-79.3% | $31.8M | $0 | $0 |
| Current Liabilities | 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 |
| Total Equity | $2.2B-29.9% | $3.2B+154.5% | $1.2B+68.9% | $733.9M-53.3% | $1.6B+270.5% | $424.5M+9618.2% | $4.4M |
| Retained Earnings | -$431.4M-196.8% | $445.7M+204.3% | -$427.3M+36.6% | -$674.4M-7298.9% | -$9.1M+84.6% | -$59.0M-15307.6% | -$383K |
FETH Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $120.0M+111.2% | -$1.1B-346.4% | -$239.1M-261.5% | $148.0M+113.9% | -$1.1B-120.6% | -$483.5M | N/A |
| Capital Expenditures | 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 |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | -$120.0M-111.2% | $1.1B+346.4% | $239.1M+261.5% | -$148.0M-113.9% | $1.1B+120.6% | $483.5M | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $818.9M-50.5% | $1.7B+535.6% | $260.3M-50.9% | $529.8M+190.8% | $182.2M+3359.8% | $5.3M | N/A |
FETH Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 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 |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | 27.7%+7.7pp | 19.9%+110.6pp | -90.6% | N/A | -13.8% | N/A |
| Return on Assets | N/A | 27.7%+8.1pp | 19.5%+109.4pp | -89.8% | N/A | -13.8% | N/A |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.000.0 | 0.00-0.0 | 0.02+0.0 | 0.01-0.0 | 0.02+0.0 | 0.000.0 | 0.00 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is Fidelity Ethereum Fund profitable?
No, Fidelity Ethereum Fund (FETH) reported a net income of -$422.3M in fiscal year 2025.
What is Fidelity Ethereum Fund's return on equity (ROE)?
Fidelity Ethereum Fund (FETH) has a return on equity of -19.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fidelity Ethereum Fund's operating cash flow?
Fidelity Ethereum Fund (FETH) generated -$1.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Fidelity Ethereum Fund's total assets?
Fidelity Ethereum Fund (FETH) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Fidelity Ethereum Fund's debt-to-equity ratio?
Fidelity Ethereum Fund (FETH) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fidelity Ethereum Fund's return on assets (ROA)?
Fidelity Ethereum Fund (FETH) had a return on assets of -19.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fidelity Ethereum Fund's cash runway?
Based on fiscal year 2025 data, Fidelity Ethereum Fund (FETH) had $0 in cash against an annual operating cash burn of $1.0B. 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.
Are Fidelity Ethereum Fund's earnings high quality?
Fidelity Ethereum Fund (FETH) has an earnings quality ratio of 2.46x, 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.