Flag Ship Acquisition Corp (FSHP) Financials
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 Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
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 FSHP SEC filings page.
Flag Ship Acquisition Corp (FSHP) reported $2.5M in revenue for fiscal year 2025, up 38.3% 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).
Reported earnings coexist with negative operating cash flow, while financing and asset movements—not revenue—drive the visible financial mechanics.
FY2025’s 73.5% net margin coexisted with operating cash flow of-$479K , so accounting earnings did not convert into cash. The near-offsetting investing inflow of$40.2M and financing outflow of-$39.8M indicate that capital movements, rather than operating receipts, dominated cash activity.
Assets contracted from
In FY2025, current assets were only
Financial Health Signals
Flag Ship Acquisition Corp 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.
Flag Ship Acquisition Corp passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Flag Ship Acquisition Corp used $0.26 of operating cash (-$479K OCF vs $1.8M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Flag Ship Acquisition Corp reported $185K in net income in Q2 2026. This represents a decrease of 68.6% from the same quarter a year earlier. Against the prior quarter it is up 15.7%.
Flag Ship Acquisition Corp earned -$0.09 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 400.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Flag Ship Acquisition Corp held $1K in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
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.
FSHP 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $110K-27.9% | $131K-19.4% | N/A | $237K-41.3% | $153K+95.6% | $162K+113.8% | N/A | $403K+779.7% |
| Net Income | $185K-68.6% | $160K-72.3% | N/A | $454K-7.1% | $590K+2859.4% | $578K+862.3% | N/A | $488K+1166.0% |
| EPS (Basic) | -$0.09-350.0% | $0.03-57.1% | N/A | N/A | -$0.02 | $0.07 | N/A | N/A |
| EPS (Diluted) | -$0.09 | $0.03 | N/A | N/A | -$0.02 | $0.07 | N/A | N/A |
| Diluted Shares (Avg) | 2M | 2M | N/A | N/A | 2M | 2M | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Interest Expense, Income Tax.
FSHP 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $34.1M-52.9% | $33.4M-53.3% | $33.1M-53.4% | $32.6M-53.4% | $72.4M+4.4% | $71.7M | $71.0M+47042.2% | $70.1M |
| Current Assets | $58K-31.7% | $16K-89.9% | $25K-85.5% | $55K-54.7% | $85K-64.4% | $157K | $172K+43.1% | $121K |
| Cash & Equivalents | $1K-93.4% | $2K-94.9% | $7K-91.5% | $19K+8621.4% | $20K-81.3% | $36K-12.3% | $77K-34.0% | $215-99.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $37.9M-49.5% | $36.8M-50.4% | $36.3M-50.5% | $35.5M-50.7% | $74.9M+5.8% | $74.1M | $73.2M+16792.1% | $72.0M |
| Current Liabilities | $18.8M+1902.1% | $1.6M+91.6% | $1.5M+105.5% | $1.2M+267.6% | $939K+2140.7% | $859K | $712K+64.3% | $328K |
| Non-Current Liabilities | $19.1M-74.2% | $35.2M-52.0% | $34.8M-52.0% | $34.3M-52.2% | $74.0M+4.5% | $73.3M | $72.5M | $71.7M |
| Total Equity | -$3.8M-46.8% | -$3.4M-38.2% | -$3.2M-39.7% | -$2.9M-48.8% | -$2.6M-68.7% | -$2.4M-576.4% | -$2.3M-700.2% | -$1.9M-625.3% |
| Retained Earnings | -$3.8M-46.8% | -$3.4M-38.2% | -$3.2M-39.7% | -$2.9M-48.8% | -$2.6M-68.6% | -$2.4M | -$2.3M-635.9% | -$1.9M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
FSHP 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$226K-79.2% | -$35K+81.1% | -$79K+67.8% | -$91K+78.0% | -$126K+15.5% | -$184K-160.3% | -$244K-1218.6% | -$413K-801.5% |
| Investing Cash Flow | -$292K | -$60K | -$180K | N/A | N/A | N/A | $0 | $0 |
| Financing Cash Flow | $517K+370.0% | $90K-36.8% | $246K-23.1% | -$40.3M-13201.9% | $110K-99.8% | $143K+2950.0% | $320K+7434.3% | $308K+30756700.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
FSHP 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.
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 (-$3.2M), 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Flag Ship Acquisition Corp FSHP | FY2025 | $2.5M | $1.8M | 73.5% | $58.0M | — |
| FG Merger Corp. FGMC | FY2025 | N/A | $1.4M | N/A | $85.5M | — |
| DT Cloud Star DTSQ | FY2025 | $2.7M | $2.1M | 79.5% | $41.5M | 28/100 |
| CO2 Energy Transition Corp. NOEMU | FY2025 | N/A | $1.7M | N/A | N/A | — |
| YHN Acquisition I Ltd YHNA | FY2025 | N/A | $1.3M | N/A | $47.3M | — |
| Defiance KSM Israel 120 ETF ISRL | FY2025 | N/A | -$510K | N/A | $78.8M | — |
Where Flag Ship Acquisition Corp Ranks
Frequently Asked Questions
What is Flag Ship Acquisition Corp's annual revenue?
Flag Ship Acquisition Corp (FSHP) reported $2.5M in total revenue for fiscal year 2025. This represents a 38.3% 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 Flag Ship Acquisition Corp's revenue growing?
Flag Ship Acquisition Corp (FSHP) revenue grew by 38.3% year-over-year, from $1.8M to $2.5M in fiscal year 2025.
Is Flag Ship Acquisition Corp profitable?
Yes, Flag Ship Acquisition Corp (FSHP) reported a net income of $1.8M in fiscal year 2025, with a net profit margin of 73.5%.
What is Flag Ship Acquisition Corp's net profit margin?
Flag Ship Acquisition Corp (FSHP) had a net profit margin of 73.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Flag Ship Acquisition Corp's operating cash flow?
Flag Ship Acquisition Corp (FSHP) recorded an outflow of $479K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Flag Ship Acquisition Corp's total assets?
Flag Ship Acquisition Corp (FSHP) had $33.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Flag Ship Acquisition Corp's current ratio?
Flag Ship Acquisition Corp (FSHP) had a current ratio of 0.02 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Flag Ship Acquisition Corp's return on assets (ROA)?
Flag Ship Acquisition Corp (FSHP) had a return on assets of 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Flag Ship Acquisition Corp's P/E ratio?
Flag Ship Acquisition Corp (FSHP) trades at 31.7x earnings, its market capitalization divided by net income of $1.8M net income, FY2025. The market capitalization is $58.0M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Flag Ship Acquisition Corp's price-to-sales ratio?
Flag Ship Acquisition Corp (FSHP) trades at 23.3x sales, its market capitalization divided by revenue of $2.5M revenue, FY2025. The market capitalization is $58.0M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Flag Ship Acquisition Corp's debt-to-equity ratio negative or not reported?
Flag Ship Acquisition Corp (FSHP) has negative shareholder equity of -$3.2M 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.
What is Flag Ship Acquisition Corp's Piotroski F-Score?
Flag Ship Acquisition Corp (FSHP) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Flag Ship Acquisition Corp's earnings high quality?
For every $1 of reported earnings, Flag Ship Acquisition Corp (FSHP) used $0.26 of operating cash (-$479K OCF vs $1.8M 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.