FOUR LEAF ACQ CORP WTS 28 (FORLW) Financials
Newest figures come from the 10-Q for Q2 FY2025, filed Aug 27, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FORLW SEC filings page.
FOUR LEAF ACQ CORP WTS 28 (FORLW) reported $2.2M in revenue for fiscal year 2024, down 0.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Transaction-driven mechanics dominate: reported profit coexists with operating losses, cash outflows, and deeply negative equity.
Operating margin deteriorated from-48.6% to-61.4% between FY2023 and FY2024, revealing worsening core economics despite broadly stable sales. Positive net income in both years coexisted with operating cash flow moving from-$467K to-$1.9M , showing that accounting earnings did not convert into cash.
FY2024 current assets were only
FY2024 investing cash flow of
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of FOUR LEAF ACQ CORP WTS 28's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FOUR LEAF ACQ CORP WTS 28 has an operating margin of -61.4%, meaning the company loses $61 on every $100 of revenue. This results in a profitability score of 30/100. This is down from -48.6% the prior year.
FOUR LEAF ACQ CORP WTS 28's revenue declined 0.4% year-over-year, from $2.2M to $2.2M. This contraction results in a growth score of 29/100.
FOUR LEAF ACQ CORP WTS 28's current ratio of 0.02 is below the typical benchmark, resulting in a score of 1/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for FOUR LEAF ACQ CORP WTS 28, and counted as zero in the overall score.
FOUR LEAF ACQ CORP WTS 28 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, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, FOUR LEAF ACQ CORP WTS 28 used $4.64 of operating cash (-$1.9M OCF vs $403K net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
FOUR LEAF ACQ CORP WTS 28 reported -$89K in net income in Q2 2025. This represents a decrease of 153.3% from the same quarter a year earlier. Against the prior quarter it is down 50.0%.
Not reported for Q2 2025.
Not reported for Q2 2025.
Not reported for Q2 2025.
Cash & Balance Sheet
FOUR LEAF ACQ CORP WTS 28 held $10K in cash as of Q2 2025; long-term debt is not reported for that period.
Not reported for Q2 2025.
Not reported for Q2 2025.
Margins & Returns
None of these metrics is reported for Q2 2025.
Capital Allocation
None of these metrics is reported for Q2 2025.
FORLW 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.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $316K-58.2% | N/A | N/A | N/A | $758K+1126.0% | N/A | N/A |
| Operating Income | -$344K+18.9% | -$315K+30.4% | N/A | -$175K+43.6% | -$424K-67.5% | -$452K-674.9% | N/A | -$310K-387096.3% |
| Income Tax | $66K-55.2% | $61K-65.2% | N/A | $74K-50.1% | $147K+9.4% | $175K+2385.0% | N/A | $149K |
| Net Income | -$89K-153.3% | -$59K-145.4% | N/A | $131K-52.8% | $167K-63.2% | $131K+405.3% | N/A | $278K+347976.3% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
FORLW 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.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $31.3M+6.4% | $30.7M-48.3% | $30.2M-48.1% | $29.7M-48.2% | $29.5M-48.1% | $59.4M+5.7% | $58.1M+8009.6% | $57.4M |
| Current Assets | $20.0M+35371.2% | $49K-40.9% | $63K+4.9% | $179K+41.8% | $56K-72.7% | $83K-74.0% | $60K+421.2% | $126K |
| Cash & Equivalents | $10K+1037.4% | $1K-75.9% | $28K+167.4% | $126K+2667.7% | $862-99.4% | $5K-98.2% | $11K+729.8% | $5K+255.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $11.4M | $30.7M | $30.1M-48.1% | $0 | $0 | $0 | $58.1M | $0 |
| Total Liabilities | $38.0M+11.9% | $36.6M-42.1% | $35.5M-40.2% | $34.6M-38.9% | $33.9M-37.0% | $63.2M+22.4% | $59.4M+8414.5% | $56.6M |
| Current Liabilities | $25.0M+728.6% | $4.2M+58.3% | $3.6M+146.8% | $3.1M+242.5% | $3.0M+457.9% | $2.7M+502.7% | $1.5M+110.5% | $919K |
| Non-Current Liabilities | $13.0M-58.0% | $32.4M-46.5% | $31.9M-44.9% | $31.4M-43.5% | $30.9M-42.0% | $60.5M+18.3% | $58.0M | $55.7M |
| Total Equity | -$6.6M-48.1% | -$5.9M-58.2% | -$5.4M-309.1% | -$4.8M-670.1% | -$4.5M-256.6% | -$3.7M-180.1% | -$1.3M-7108.1% | $851K+4477.9% |
| Retained Earnings | -$6.6M-48.1% | -$5.9M-58.2% | -$5.4M-309.1% | -$4.8M-810.6% | -$4.5M-1208.4% | -$3.7M-7464.4% | -$1.3M-20677.6% | $682K |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
FORLW 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.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$331K+55.3% | -$158K+51.4% | -$268K-56.5% | -$535K-188.4% | -$741K-654.6% | -$325K-2623.3% | -$171K-13774.4% | -$186K-2208.1% |
| Investing Cash Flow | -$225K-100.7% | -$225K+58.5% | -$225K | $239K | $30.7M | -$542K+99.0% | $0 | $0 |
| Financing Cash Flow | $565K+101.9% | $356K-58.7% | $395K+123.2% | $421K+905.1% | -$29.9M-76969.9% | $862K-98.5% | $177K+14260.0% | $42K+203.9% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
FORLW 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.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | -99.5%-39.8pp | N/A | N/A | N/A | -59.7%+34.8pp | N/A | N/A |
| Net Margin | N/A | -18.7%-35.9pp | N/A | N/A | N/A | 17.2%+86.4pp | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 32.7%+33.1pp |
| Return on Assets | -0.3%-0.9pp | -0.2%-0.4pp | N/A | 0.4%0.0pp | 0.6%-0.2pp | 0.2%+0.3pp | N/A | 0.5% |
| Current Ratio | 0.80+0.8x | 0.010.0x | 0.020.0x | 0.06-0.1x | 0.02-0.4x | 0.03-0.7x | 0.040.0x | 0.14 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 66.52 |
| Asset Turnover | N/A | 0.010.0x | N/A | N/A | N/A | 0.010.0x | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Note: Shareholder equity is negative (-$5.4M), 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.
Note: The current ratio is below 1.0 (0.02), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where FOUR LEAF ACQ CORP WTS 28 Ranks
Frequently Asked Questions
What is FOUR LEAF ACQ CORP WTS 28's annual revenue?
FOUR LEAF ACQ CORP WTS 28 (FORLW) reported $2.2M in total revenue for fiscal year 2024. This represents a -0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is FOUR LEAF ACQ CORP WTS 28's revenue growing?
FOUR LEAF ACQ CORP WTS 28 (FORLW) revenue declined by 0.4% year-over-year, from $2.2M to $2.2M in fiscal year 2024.
Is FOUR LEAF ACQ CORP WTS 28 profitable?
Yes, FOUR LEAF ACQ CORP WTS 28 (FORLW) reported a net income of $403K in fiscal year 2024, with a net profit margin of 18.2%.
What is FOUR LEAF ACQ CORP WTS 28's operating margin?
FOUR LEAF ACQ CORP WTS 28 (FORLW) had an operating margin of -61.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is FOUR LEAF ACQ CORP WTS 28's net profit margin?
FOUR LEAF ACQ CORP WTS 28 (FORLW) had a net profit margin of 18.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is FOUR LEAF ACQ CORP WTS 28's operating cash flow?
FOUR LEAF ACQ CORP WTS 28 (FORLW) recorded an outflow of $1.9M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are FOUR LEAF ACQ CORP WTS 28's total assets?
FOUR LEAF ACQ CORP WTS 28 (FORLW) had $30.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What is FOUR LEAF ACQ CORP WTS 28's current ratio?
FOUR LEAF ACQ CORP WTS 28 (FORLW) had a current ratio of 0.02 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is FOUR LEAF ACQ CORP WTS 28's return on assets (ROA)?
FOUR LEAF ACQ CORP WTS 28 (FORLW) had a return on assets of 1.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is FOUR LEAF ACQ CORP WTS 28's debt-to-equity ratio negative or not reported?
FOUR LEAF ACQ CORP WTS 28 (FORLW) has negative shareholder equity of -$5.4M as of fiscal year 2024, 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.
What is FOUR LEAF ACQ CORP WTS 28's Piotroski F-Score?
FOUR LEAF ACQ CORP WTS 28 (FORLW) 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 FOUR LEAF ACQ CORP WTS 28's earnings high quality?
For every $1 of reported earnings, FOUR LEAF ACQ CORP WTS 28 (FORLW) used $4.64 of operating cash (-$1.9M OCF vs $403K 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.
How financially healthy is FOUR LEAF ACQ CORP WTS 28?
FOUR LEAF ACQ CORP WTS 28 (FORLW) scores 16 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.