Galaxy Digital (GLXY) 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 8, 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 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GLXY SEC filings page.
Galaxy Digital (GLXY) reported $60.4B in revenue for fiscal year 2025, up 41.8% 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).
Rapid balance-sheet expansion is paired with rising leverage and investment-led cash consumption rather than recurring cash generation.
In FY2025, revenue reached$60.4B but net income was-$241.3M , showing that scale did not translate into earnings. Free cash flow reached-$1.5B as debt-to-equity reached 4.3x, so expansion required balance-sheet support rather than internally generated cash.
Operating cash flow of
Current ratio improved from 1.5x to 1.6x, indicating that short-term coverage did not deteriorate. Debt-to-equity rose to 4.3x as assets expanded to
Financial Health Signals
Scored against banks for FY2025. 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 Galaxy Digital'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.
Galaxy Digital earned a return on assets of -2.1% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 4.9% the prior year. Earnings ranks banks on that return over three years, and Galaxy Digital scores 27/100 among other banks.
Galaxy Digital reported revenue of $60.4B in fiscal year 2025, against $42.6B in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Galaxy Digital scores 52/100 among other banks.
Galaxy Digital funded 17.2% of its assets with shareholders' equity at the end of fiscal year 2025, holding $2.0B of equity against $11.3B of assets. Capital ranks banks on that cushion, and Galaxy Digital scores 83/100 among other banks.
Not available for Galaxy Digital, and counted as zero in the overall score.
Not available for Galaxy Digital, and counted as zero in the overall score.
Galaxy Digital reported a net loss of $241.3M in fiscal year 2025, against $346.7M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Galaxy Digital scores 8/100 among other banks.
Galaxy Digital passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). No profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
Galaxy Digital reported a net loss of $241.3M while operations used $316.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Galaxy Digital generated $8.6B in revenue in Q2 2026. This represents a decrease of 1.2% from the same quarter a year earlier. Against the prior quarter it is down 14.8%.
Galaxy Digital reported -$85.3M in net income in Q2 2026. This represents a decrease of 378.0% from the same quarter a year earlier. Against the prior quarter it is up 60.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Galaxy Digital recorded an outflow of $26.8M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 80.1% from the same quarter a year earlier. Against the prior quarter it is up 93.6%.
Galaxy Digital held $895.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Galaxy Digital's net profit margin was -1.0% in Q2 2026, showing the share of revenue converted to profit. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
Galaxy Digital's ROE was -4.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Galaxy Digital invested $398.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 30.8% from the same quarter a year earlier. Against the prior quarter it is up 18.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
GLXY 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.6B-1.2% | $10.0B | N/A | $28.4B+231.4% | $8.7B-2.5% | N/A | N/A | $8.6B |
| SG&A Expenses | $18.8M+59.3% | $20.4M | N/A | $58.7M+145.3% | $11.8M-47.1% | N/A | N/A | $23.9M |
| Interest Expense | $25.1M+76.3% | $17.6M | N/A | $14.4M+102.9% | $14.2M+102.3% | N/A | N/A | $7.1M |
| Income Tax | -$42.9M-473.8% | -$18.2M | N/A | $40.1M+609.1% | $11.5M+181.7% | N/A | N/A | -$7.9M |
| Net Income | -$85.3M-378.0% | -$216.3M | N/A | $505.1M+1615.3% | $30.7M+124.4% | N/A | N/A | -$33.3M |
| Diluted Shares (Avg) | 193M-48.1% | 390M+205.4% | N/A | 221M-35.1% | 372M+9.9% | 128M | N/A | 341M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).
GLXY 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 | $10.8B+19.3% | $10.0B+999198000.0% | $11.3B+59.4% | $11.5B | $9.1B | $1K | $7.1B | N/A |
| Current Assets | $7.2B-1.6% | $6.9B+694061300.0% | $8.5B+44.8% | $9.1B | $7.4B | $1K | $5.9B | N/A |
| Cash & Equivalents | $895.7M+29.6% | $910.7M+91069000.0% | $1.2B+169.7% | $1.1B+318.2% | $691.3M+120.1% | $1K-50.0% | $462.1M | $272.0M |
| Short-Term Investments | $658.0M-12.1% | $623.6M | $709.1M-15.1% | $853.8M | $748.3M | $0 | $834.8M | $0 |
| Accounts Receivable | $86.5M+108.9% | $103.2M | $34.0M-38.5% | $72.0M | $41.4M | N/A | $55.3M | N/A |
| Long-Term Investments | $884.1M+2.4% | $875.1M | $1.0B+26.5% | $1.3B | $863.7M | $0 | $808.7M | $0 |
| Goodwill | $66.5M+6.9% | $66.5M | $66.5M+14.6% | $62.7M | $62.2M | N/A | $58.0M | N/A |
| Total Liabilities | $8.1B+25.7% | $7.2B | $8.3B+68.8% | $8.4B | $6.5B | $0 | $4.9B | N/A |
| Current Liabilities | $4.8B-12.0% | $4.1B | $5.3B+36.6% | $6.7B | $5.5B | N/A | $3.9B | N/A |
| Non-Current Liabilities | $3.3B+234.3% | $3.1B | $3.0B+189.3% | $1.6B | $990.3M | N/A | $1.0B | N/A |
| Total Equity | $1.8B+21.0% | $1.8B+181170600.0% | $2.0B-10.9% | $1.8B-14.1% | $1.5B-27.4% | $1K-50.0% | $2.2B | $2.1B |
| Retained Earnings | $232.9M-29.9% | $250.8M+6269275.0% | $342.9M | $540.8M | $332.3M | -$4K | $0 | N/A |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
GLXY 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 | $372.0M+119.0% | -$83.3M | -$1.1B-184.2% | $427.7M+981.1% | $169.9M-23.2% | N/A | -$377.8M | -$48.5M |
| Depreciation & Amortization | $9.2M+22.8% | $5.8M | $6.6M-50.8% | $7.4M-43.1% | $7.5M-31.9% | N/A | $13.4M | $13.0M |
| Stock-Based Compensation | N/A | $18.4M+33.8% | N/A | N/A | N/A | $13.7M | N/A | N/A |
| Capital Expenditures | $398.8M+30.8% | $337.9M | $558.0M+2054.0% | $238.1M+6938.7% | $304.8M | N/A | $25.9M | $3.4M |
| Free Cash Flow | -$26.8M+80.1% | -$421.2M | -$1.6B-304.1% | $189.6M+465.2% | -$134.9M | N/A | -$403.7M | -$51.9M |
| Investing Cash Flow | -$783.5M-92.7% | -$429.5M | -$580.1M-805.5% | -$367.9M-557.2% | -$406.7M | N/A | -$64.1M | -$56.0M |
| Financing Cash Flow | $396.6M-5.3% | $177.3M | $1.8B+178.9% | $386.3M+518.6% | $418.7M | N/A | $632.0M | $62.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
GLXY 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -1.0%-1.4pp | -2.1% | N/A | 1.8%+2.2pp | 0.4%+1.8pp | N/A | N/A | -0.4% |
| Return on Equity | -4.7%-6.7pp | -11.9% | N/A | 28.7%+30.3pp | 2.0%+8.1pp | N/A | N/A | -1.6% |
| Return on Assets | -0.8%-1.1pp | -2.2% | N/A | 4.4% | 0.3% | N/A | N/A | N/A |
| Current Ratio | 1.50+0.2x | 1.70 | 1.60+0.1x | 1.35 | 1.34 | N/A | 1.51 | N/A |
| Debt-to-Equity | 4.46+0.2x | 3.98+4.0x | 4.25+2.0x | 4.74 | 4.29 | 0.00 | 2.24 | N/A |
| Asset Turnover | 0.79-0.2x | 1.00 | N/A | 2.46 | 0.95 | N/A | N/A | N/A |
| FCF Margin | -0.3%+1.3pp | -4.2% | N/A | 0.7%+1.3pp | -1.6% | N/A | N/A | -0.6% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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 |
|---|---|---|---|---|---|---|
| Galaxy Digital GLXY | FY2025 | $60.4B | -$241.3M | -0.4% | $10.6B | 28/100 |
| Stifel Fin Corp SF | FY2025 | $5.5B | $646.5M | 11.7% | $12.3B | 53/100 |
| Evercore EVR | FY2025 | $3.9B | $592.0M | 15.3% | $11.5B | 52/100 |
| Jefferies Financial Group JEF | FY2025 | $7.3B | $682.0M | 9.3% | $12.7B | 41/100 |
| Houlihan Lokey Inc HLI | FY2026 | $2.6B | $424.0M | 16.2% | $9.6B | 54/100 |
| Nomura Hldgs NMR | FY2011 | $13.7B | $346.0M | 2.5% | $31.1B | — |
Where Galaxy Digital Ranks
Frequently Asked Questions
What is Galaxy Digital's annual revenue?
Galaxy Digital (GLXY) reported $60.4B in total revenue for fiscal year 2025. This represents a 41.8% 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 Galaxy Digital's revenue growing?
Galaxy Digital (GLXY) revenue grew by 41.8% year-over-year, from $42.6B to $60.4B in fiscal year 2025.
Is Galaxy Digital profitable?
No, Galaxy Digital (GLXY) reported a net income of -$241.3M in fiscal year 2025, with a net profit margin of -0.4%.
What is Galaxy Digital's net profit margin?
Galaxy Digital (GLXY) had a net profit margin of -0.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Galaxy Digital's return on equity (ROE)?
Galaxy Digital (GLXY) has a return on equity of -12.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Galaxy Digital's free cash flow?
Galaxy Digital (GLXY) recorded an outflow of $1.5B in free cash flow during fiscal year 2025. This represents a -471.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Galaxy Digital's operating cash flow?
Galaxy Digital (GLXY) recorded an outflow of $316.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Galaxy Digital's total assets?
Galaxy Digital (GLXY) had $11.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Galaxy Digital's capital expenditures?
Galaxy Digital (GLXY) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Galaxy Digital's current ratio?
Galaxy Digital (GLXY) had a current ratio of 1.60 as of fiscal year 2025, which is generally considered healthy.
What is Galaxy Digital's debt-to-equity ratio?
Galaxy Digital (GLXY) had a debt-to-equity ratio of 4.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Galaxy Digital's return on assets (ROA)?
Galaxy Digital (GLXY) had a return on assets of -2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Galaxy Digital's P/E ratio?
Galaxy Digital (GLXY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $10.6B as of Sep 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Galaxy Digital's price-to-sales ratio?
Galaxy Digital (GLXY) trades at 0.2x sales, its market capitalization divided by revenue of $60.4B revenue, FY2025. The market capitalization is $10.6B as of Sep 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Galaxy Digital's Piotroski F-Score?
Galaxy Digital (GLXY) has a Piotroski F-Score of 1 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 Galaxy Digital's earnings high quality?
Galaxy Digital (GLXY) reported a net loss of $241.3M while operations used $316.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Galaxy Digital?
Galaxy Digital (GLXY) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), 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.