What is ETHEMA HEALTH CORPORATION's earnings per share (EPS)?

ETHEMA HEALTH CORPORATION (GRST) reported diluted earnings per share of $0.00 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ETHEMA HEALTH CORPORATION (GRST) Financials

GRST

FY2025 annual

Revenue $18.8M +211.9% YoY

Net Income -$2.2M -5.5% YoY

EPS (Diluted) $0.00 YoY not available

Free Cash Flow -$311K +39.8% YoY

Market Cap $773K as of Sep 14, 2026

Price / Sales 0.0x on $18.8M revenue, FY2025

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book n/m negative shareholder equity, so no book multiple, Q4 FY2025

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 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Jul 1, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Jul 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GRST SEC filings page.

ETHEMA HEALTH CORPORATION (GRST) reported $18.8M in revenue for fiscal year 2025, up 211.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 GRST FY2025 2026-09-05

Revenue scale-up is improving operating performance, but interest, fixed obligations, and working-capital pressure still prevent durable cash earnings.

FY2025 revenue reached $18.8M while the operating loss narrowed to -$260K, indicating the expanded business is approaching operating break-even rather than merely growing without efficiency. Yet positive EBITDA of $552K still translated into a net loss of -$2.2M, showing that below-operating costs remain decisive.

Cash conversion is closer to break-even than the net result suggests: operating cash flow was -$33K, but free cash flow was -$311K, indicating reinvestment still consumes cash after operations.

The balance sheet remains structurally strained: liabilities of $38.4M exceeded assets of $28.8M, leaving negative equity. A 0.1x current ratio means short-term obligations greatly exceed current assets, even though the reported liquidity comparison equaled 21.7 months of FY2025 operating outflow; those measures capture different aspects of financial flexibility.

Financial Health Signals

Financial health score not available

ETHEMA HEALTH CORPORATION 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.

Altman Z-Score Distress

-2.21

ETHEMA HEALTH CORPORATION scores -2.21, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($773K) relative to total liabilities ($38.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/6

ETHEMA HEALTH CORPORATION passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

ETHEMA HEALTH CORPORATION reported a net loss of $2.2M while operations used $33K of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

ETHEMA HEALTH CORPORATION reported an operating loss of $260K against $1.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.8M

YoY+228.0%

QoQ-13.0%

5Y CAGR+125.1%

ETHEMA HEALTH CORPORATION generated $4.8M in revenue in Q4 2025. This represents an increase of 228.0% from the same quarter a year earlier. Against the prior quarter it is down 13.0%.

EBITDA

-$162K

YoY-992.8%

QoQ-121.5%

ETHEMA HEALTH CORPORATION's EBITDA was -$162K in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 992.8% from the same quarter a year earlier. Against the prior quarter it is down 121.5%.

Net Income

-$1.1M

YoY-226.4%

QoQ-1707.6%

ETHEMA HEALTH CORPORATION reported -$1.1M in net income in Q4 2025. This represents a decrease of 226.4% from the same quarter a year earlier. Against the prior quarter it is down 1707.6%.

EPS (Diluted)

$0.00

ETHEMA HEALTH CORPORATION earned $0.00 per diluted share (EPS) in Q4 2025.

Cash & Balance Sheet

Free Cash Flow

$187K

YoY+281.8%

QoQ+328.2%

ETHEMA HEALTH CORPORATION generated $187K in free cash flow in Q4 2025, representing cash available after capex. This represents an increase of 281.8% from the same quarter a year earlier. Against the prior quarter it is up 328.2%.

Cash & Debt

$60K

YoY-75.7%

QoQ-47.8%

5Y CAGR-8.0%

10Y CAGR+79.2%

ETHEMA HEALTH CORPORATION held $60K in cash as of Q4 2025; long-term debt is not reported for that period.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

Operating Margin

-7.6%

YoY-0.6pp

QoQ-17.5pp

5Y change+26.9pp

ETHEMA HEALTH CORPORATION's operating margin was -7.6% in Q4 2025, reflecting core business profitability. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 17.5 percentage points.

Net Margin

-22.1%

YoY+0.1pp

QoQ-23.3pp

ETHEMA HEALTH CORPORATION's net profit margin was -22.1% in Q4 2025, showing the share of revenue converted to profit. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 23.3 percentage points.

Gross Margin

Not reported for Q4 2025.

Return on Equity

Not reported for Q4 2025.

Capital Allocation

Capital Expenditures

$119K

YoY+371.1%

QoQ+49.0%

ETHEMA HEALTH CORPORATION invested $119K in capex in Q4 2025, funding long-term assets and infrastructure. This represents an increase of 371.1% from the same quarter a year earlier. Against the prior quarter it is up 49.0%.

R&D Spending

Not reported for Q4 2025.

Share Buybacks

Not reported for Q4 2025.

GRST 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.

GRST quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$18.8M+211.9%	$6.0M+12.6%	$5.3M+10.9%	$4.8M+148.2%	$1.9M+473.0%	$339K-5.8%	$360K-16.8%	$433K-53.5%	$929K	N/A	N/A	$3.4M-42.7%	$6.0M+7.6%	$5.5M+230.1%	$1.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.3M+19.7%	$1.1M	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.7M+4.8%	$4.5M+536.0%	-$1.0M
SG&A Expenses	$3.9M+153.7%	$1.6M+48.9%	$1.0M+29.3%	$805K+51.6%	$531K+853.1%	$56K-93.9%	$910K+36.8%	$665K+40.5%	$473K+227.4%	$145K+160.1%	$56K-93.8%	$903K+50.0%	$602K+10.1%	$547K+7.1%	$510K
Operating Income	-$260K+80.5%	-$1.3M-146.0%	-$542K-210.8%	$489K+23136.0%	$2K+101.3%	-$163K+96.1%	-$4.2M-45.6%	-$2.9M-98.5%	-$1.5M-83.7%	-$791K-75.7%	-$450K+66.4%	-$1.3M-1.7%	-$1.3M+15.1%	-$1.6M	N/A
EBITDA	$552K+163.7%	-$866K-1914.3%	-$43K-104.2%	$1.0M+214.3%	$327K+878.4%	-$42K+98.9%	-$4.0M-52.6%	-$2.6M-112.3%	-$1.2M-76.2%	-$698K-94.1%	-$359K+71.4%	-$1.3M-10.7%	-$1.1M+14.6%	-$1.3M	N/A
Interest Expense	$1.4M+145.5%	$565K+13.0%	$500K-15.0%	$588K-29.1%	$830K+31.4%	$631K-41.5%	$1.1M+54.8%	$697K+89.6%	$368K+1145.8%	$30K+50.7%	$20K-93.7%	$311K-21.8%	$397K+85.5%	$214K+706.3%	$27K
Income Tax	-$53K	N/A	-$392K-249.3%	-$112K-139.9%	$281K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.2M-5.5%	-$2.1M-305.1%	$1.0M+240.9%	$295K+119.1%	-$1.5M-150.0%	$3.1M+120.6%	-$15.0M-83.0%	-$8.2M-497.6%	-$1.4M-424.9%	-$261K+77.4%	-$1.2M+39.2%	-$1.9M+46.1%	-$3.5M-137.7%	-$1.5M+40.6%	-$2.5M
EPS (Basic)	$0.00	$0.00	$0.00	N/A	N/A	N/A	N/A	-$0.07-250.0%	-$0.020.0%	-$0.02	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$0.00	$0.00	$0.00	N/A	N/A	N/A	N/A	-$0.07-600.0%	-$0.01	-$0.02	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	7.73B+37.8%	5.61B+43.7%	3.90B	N/A	N/A	2.05B+1402.1%	136M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Revenue	$4.8M+228.0%	$5.5M+214.2%	$4.9M+229.2%	$3.5M+170.6%	$1.5M+30.4%	$1.8M+30.0%	$1.5M-4.8%	$1.3M0.0%
SG&A Expenses	$1.1M+128.1%	$1.1M+152.0%	$943K+159.5%	$810K+194.9%	$495K+73.2%	$418K+67.6%	$363K+37.0%	$275K+13.8%
Operating Income	-$368K-258.1%	$546K+175.4%	$209K+175.5%	-$647K-182.6%	-$103K+84.9%	-$724K-2258.5%	-$278K-963.3%	-$229K-405.3%
EBITDA	-$162K-992.8%	$752K+225.2%	$413K+349.5%	-$451K-282.8%	$18K+103.2%	-$601K-518.2%	-$165K-196.3%	-$118K-155.2%
Interest Expense	$422K+113.6%	$348K+107.7%	$325K+203.8%	$293K+214.3%	$198K-13.0%	$168K+105.9%	$107K-25.7%	$93K+95.2%
Income Tax	-$13K	-$13K	-$13K	-$12K	N/A	N/A	N/A	N/A
Net Income	-$1.1M-226.4%	$66K+106.6%	-$296K+18.7%	-$885K-136.5%	-$326K+71.9%	-$1.0M-147.5%	-$363K-256.5%	-$374K-113.0%
EPS (Basic)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
EPS (Diluted)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Diluted Shares (Avg)	N/A	7.73B+7.2%	7.73B+107.2%	7.73B	N/A	7.21B	3.73B	3.73B

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

GRST Balance Sheet

GRST quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$28.8M+136.6%	$12.2M+5.5%	$11.5M+75.5%	$6.6M+0.1%	$6.6M+71.5%	$3.8M+19.0%	$3.2M-74.7%	$12.7M+3.3%	$12.3M+2566.7%	$460K+57.7%	$292K-74.3%	$1.1M-4.8%	$1.2M+6.1%	$1.1M+20.8%	$931K
Current Assets	$1.6M+194.5%	$529K+31.2%	$403K-25.8%	$543K+99.7%	$272K-70.9%	$935K+266.1%	$255K-37.4%	$408K+21.9%	$335K+21.4%	$276K+25.5%	$220K-72.0%	$783K+39.0%	$563K+11.0%	$507K+75.1%	$290K
Cash & Equivalents	$60K-75.7%	$245K+256.9%	$69K-51.3%	$141K+188.3%	$49K-46.1%	$91K+2942.0%	$3K-87.9%	$25K+7178.5%	$339-92.9%	$5K+2646.6%	$174-99.8%	$88K+169.9%	-$126K-78.1%	-$71K	$0
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$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	N/A	N/A	N/A	N/A	N/A	$16K+37.2%	$12K
Accounts Receivable	$1.4M+454.5%	$261K-16.8%	$313K-7.0%	$337K+91.5%	$176K+5623.9%	$3K-97.1%	$106K-47.8%	$203K-7.4%	$219K	N/A	$184K+11.4%	$165K-62.6%	$441K+16.0%	$380K+101.7%	$188K
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$3.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$38.4M+95.8%	$19.6M+10.7%	$17.7M+15.1%	$15.4M-3.8%	$16.0M-18.1%	$19.5M-15.9%	$23.2M+14.0%	$20.4M+45.2%	$14.0M+286.1%	$3.6M+6.2%	$3.4M-11.4%	$3.9M-10.0%	$4.3M-5.8%	$4.6M+17.7%	$3.9M
Current Liabilities	$15.4M+59.1%	$9.7M+16.3%	$8.3M-37.6%	$13.3M-1.7%	$13.5M-2.5%	$13.9M-25.4%	$18.6M+35.8%	$13.7M+99.4%	$6.9M+88.6%	$3.6M+6.5%	$3.4M-11.2%	$3.8M-9.9%	$4.3M-5.6%	$4.5M+16.7%	$3.9M
Non-Current Liabilities	$23.0M+131.3%	$10.0M+5.7%	$9.4M+347.2%	$2.1M-15.5%	$2.5M-45.6%	$4.6M-1.5%	$4.7M-30.6%	$6.7M-6.6%	$7.2M	$0-100.0%	$9K-52.4%	$18K-35.1%	$28K-26.9%	$39K	$0
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$28K-26.9%	$39K	N/A
Total Equity	-$9.6M-29.2%	-$7.5M-20.3%	-$6.2M+32.8%	-$9.2M+6.3%	-$9.9M+37.3%	-$15.7M+21.5%	-$20.0M-159.5%	-$7.7M-334.5%	-$1.8M+44.1%	-$3.2M-1.4%	-$3.1M-14.7%	-$2.7M+11.1%	-$3.1M+4.4%	-$3.2M-9.0%	-$2.9M
Retained Earnings	-$46.6M-4.9%	-$44.4M-4.9%	-$42.4M+2.6%	-$43.5M+1.4%	-$44.1M-3.9%	-$42.5M+6.7%	-$45.5M-49.0%	-$30.5M-79.9%	-$17.0M+19.1%	-$21.0M-1.3%	-$20.7M-205.9%	$19.6M+263.9%	-$11.9M-15.8%	-$10.3M-216.8%	$8.8M

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Total Assets	$28.8M+136.6%	$30.3M+145.7%	$28.9M+134.0%	$28.5M+146.9%	$12.2M+5.5%	$12.3M+2.6%	$12.3M+222.0%	$11.6M+75.0%
Current Assets	$1.6M+194.5%	$2.6M+452.2%	$2.0M+480.8%	$1.3M+149.3%	$529K+31.2%	$472K-40.5%	$345K-40.4%	$510K-26.1%
Cash & Equivalents	$60K-75.7%	$114K+87.4%	$442K+1320.2%	$210K+53.1%	$245K+256.9%	$61K+418.9%	$31K+11.8%	$137K+398.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$1.4M+454.5%	$2.4M+538.8%	$1.5M+459.9%	$1.0M+190.7%	$261K-16.8%	$381K-44.0%	$273K-42.0%	$357K-34.3%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$3.4M	$3.5M	$3.6M	$3.6M	N/A	N/A	N/A	N/A
Total Liabilities	$38.4M+95.8%	$38.8M+99.7%	$37.5M+83.2%	$36.9M+103.4%	$19.6M+10.7%	$19.5M+11.1%	$20.5M+74.8%	$18.1M+13.1%
Current Liabilities	$15.4M+59.1%	$14.8M+95.7%	$14.2M+66.1%	$13.0M+50.0%	$9.7M+16.3%	$7.5M-2.2%	$8.5M-13.3%	$8.7M-38.3%
Non-Current Liabilities	$23.0M+131.3%	$24.1M+102.2%	$23.3M+95.4%	$23.9M+152.4%	$10.0M+5.7%	$11.9M+21.5%	$11.9M+540.3%	$9.5M+380.0%
Total Equity	-$9.6M-29.2%	-$8.6M-20.2%	-$8.6M-6.1%	-$8.3M-26.9%	-$7.5M-20.3%	-$7.1M-29.6%	-$8.1M-3.2%	-$6.6M+30.3%
Retained Earnings	-$46.6M-4.9%	-$45.5M-3.3%	-$45.6M-5.6%	-$45.3M-6.0%	-$44.4M-4.9%	-$44.1M-5.1%	-$43.2M+1.9%	-$42.7M+2.2%

Not reported in any period shown, so not listed: Inventory, Long-Term Debt.

GRST Cash Flow Statement

GRST quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$33K+92.8%	-$456K+14.0%	-$530K-133.6%	$1.6M+1943.1%	-$86K+16.1%	-$102K+96.5%	-$2.9M-97.8%	-$1.5M+68.5%	-$4.6M-112035.9%	-$4K+99.6%	-$967K-269.0%	$572K+177.9%	-$734K-1037.7%	-$65K+96.5%	-$1.8M
Depreciation & Amortization	$812K+74.0%	$467K-6.4%	$499K-7.6%	$540K+66.0%	$325K+168.3%	$121K-44.1%	$217K-20.7%	$274K+22.4%	$224K+139.8%	$93K+2.6%	$91K+8.6%	$84K-54.3%	$183K-18.2%	$224K+72.6%	$130K
Stock-Based Compensation	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$680K	N/A	N/A	N/A
Capital Expenditures	$278K+360.9%	$60K+48.4%	$41K-87.1%	$316K+137.8%	$133K	N/A	-$120K	N/A	$3.0M+2590.9%	-$110K+300.7%	$27K-51.8%	$57K	N/A	N/A	N/A
Free Cash Flow	-$311K+39.8%	-$516K+9.6%	-$571K-145.3%	$1.3M+677.5%	-$218K	N/A	-$3.0M	N/A	-$7.6M-6562.5%	-$114K+88.5%	-$994K-293.0%	$515K	N/A	N/A	N/A
Investing Cash Flow	-$254K+74.8%	-$1.0M-141.1%	$2.5M+444.6%	-$712K-24.3%	-$573K+16.3%	-$684K-115.0%	$4.6M+418.2%	-$1.4M-205.9%	$1.4M+1294.4%	-$113K-339.0%	-$26K+54.8%	-$57K+44.0%	-$102K+49.2%	-$200K	N/A
Financing Cash Flow	$82K-95.1%	$1.7M+180.7%	-$2.1M-784.0%	$304K-48.5%	$590K-30.9%	$854K+143.8%	-$2.0M-158.1%	$3.4M+1.9%	$3.3M+1229.2%	$248K+15.1%	$216K+143.3%	-$498K-195.0%	$524K+56.7%	$334K-84.6%	$2.2M

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Operating Cash Flow	$306K+493.9%	$124K+214.4%	-$389K-137.5%	-$73K+30.7%	-$78K-270.4%	-$108K+82.3%	-$164K-132.9%	-$106K-200.1%
Depreciation & Amortization	$207K+70.8%	$206K+68.0%	$203K+81.3%	$196K+76.4%	$121K+9.3%	$123K+11.4%	$112K-19.7%	$111K-19.7%
Capital Expenditures	$119K+371.1%	$80K+199.9%	$66K+150.6%	$13K-61.1%	-$25K-99.5%	$27K-99.5%	$26K-14.2%	$32K-38.1%
Free Cash Flow	$187K+281.8%	$44K+132.5%	-$456K-139.3%	-$86K+37.8%	-$103K+98.0%	-$135K+97.7%	-$190K-88.2%	-$138K-359.0%
Investing Cash Flow	-$119K-571.1%	-$80K-199.9%	-$67K+93.0%	$12K+123.2%	$25K+221.1%	-$27K-101.1%	-$955K-1282.0%	-$52K+48.8%
Financing Cash Flow	-$248K-195.4%	-$363K-326.4%	$667K-34.4%	$27K-88.8%	$260K+1070.1%	$160K+108.5%	$1.0M+1199.1%	$238K+302.1%

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.

GRST 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.

GRST quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	78.9%-2.1pp	81.0%+142.4pp	-61.4%
Operating Margin	-1.4%+20.8pp	-22.2%-12.0pp	-10.1%-20.3pp	10.2%+10.0pp	0.1%+48.3pp	-48.2%	-1166.8%	-666.9%	-156.3%	N/A	N/A	-39.3%-17.1pp	-22.1%+5.9pp	-28.0%	N/A
Net Margin	-11.6%+22.7pp	-34.3%-53.1pp	18.8%+12.7pp	6.1%+85.5pp	-79.4%	910.0%	-4157.0%	-1891.0%	-147.2%	N/A	N/A	-55.6%+3.5pp	-59.2%-32.4pp	-26.8%	-148.7%
Return on Assets	-7.6%+9.4pp	-17.0%-25.7pp	8.7%+4.2pp	4.5%+28.0pp	-23.5%-104.3pp	80.7%+546.7pp	-466.0%-401.4pp	-64.6%-53.4pp	-11.2%+45.5pp	-56.7%+339.3pp	-395.9%-228.6pp	-167.3%+128.3pp	-295.6%-163.6pp	-131.9%+136.3pp	-268.2%
Current Ratio	0.100.0x	0.050.0x	0.050.0x	0.040.0x	0.020.0x	0.07+0.1x	0.010.0x	0.030.0x	0.050.0x	0.080.0x	0.06-0.1x	0.20+0.1x	0.130.0x	0.110.0x	0.07
Asset Turnover	0.65+0.2x	0.490.0x	0.46-0.3x	0.73+0.4x	0.30+0.2x	0.090.0x	0.11+0.1x	0.030.0x	0.08	N/A	N/A	3.01-2.0x	5.00+0.1x	4.93+3.1x	1.80
FCF Margin	-1.7%+6.9pp	-8.6%+2.1pp	-10.7%-36.8pp	26.2%+37.4pp	-11.2%	N/A	-837.8%	N/A	-818.2%	N/A	N/A	15.1%	N/A	N/A	N/A

Metric	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q
Operating Margin	-7.6%-0.6pp	9.9%+51.0pp	4.3%+22.9pp	-18.4%-0.8pp	-7.0%+53.7pp	-41.1%-43.6pp	-18.6%-20.7pp	-17.6%-23.4pp
Net Margin	-22.1%+0.1pp	1.2%+58.1pp	-6.0%+18.4pp	-25.2%+3.6pp	-22.2%	-56.9%	-24.4%-39.2pp	-28.8%-15.3pp
Return on Assets	-3.7%-1.0pp	0.2%+8.3pp	-1.0%+1.9pp	-3.1%+0.1pp	-2.7%+7.4pp	-8.1%-25.7pp	-2.9%-9.0pp	-3.2%-0.6pp
Current Ratio	0.100.0x	0.18+0.1x	0.14+0.1x	0.100.0x	0.050.0x	0.060.0x	0.040.0x	0.060.0x
Asset Turnover	0.170.0x	0.180.0x	0.170.0x	0.120.0x	0.120.0x	0.140.0x	0.12-0.3x	0.11-0.1x
FCF Margin	3.9%+10.9pp	0.8%+8.4pp	-9.3%+3.5pp	-2.5%+8.2pp	-7.0%	-7.6%	-12.8%-6.3pp	-10.7%-14.8pp

Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$9.6M), 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 (0.10), 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
ETHEMA HEALTH CORPORATION GRST	FY2025	$18.8M	-$2.2M	-11.6%	$773K	—
SELECTIS HEALTH INC GBCS	FY2025	$41.4M	-$1.0M	-2.5%	$17.5M	—
HEALTHLYNKED CORP HLYK	FY2025	$2.1M	-$3.3M	N/A	$6.3M	—

Where ETHEMA HEALTH CORPORATION Ranks

Frequently Asked Questions

What is ETHEMA HEALTH CORPORATION's annual revenue?

ETHEMA HEALTH CORPORATION (GRST) reported $18.8M in total revenue for fiscal year 2025. This represents a 211.9% 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 ETHEMA HEALTH CORPORATION's revenue growing?

ETHEMA HEALTH CORPORATION (GRST) revenue grew by 211.9% year-over-year, from $6.0M to $18.8M in fiscal year 2025.

Is ETHEMA HEALTH CORPORATION profitable?

No, ETHEMA HEALTH CORPORATION (GRST) reported a net income of -$2.2M in fiscal year 2025, with a net profit margin of -11.6%.

What is ETHEMA HEALTH CORPORATION's EBITDA?

ETHEMA HEALTH CORPORATION (GRST) had EBITDA of $552K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is ETHEMA HEALTH CORPORATION's operating margin?

ETHEMA HEALTH CORPORATION (GRST) had an operating margin of -1.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ETHEMA HEALTH CORPORATION's net profit margin?

ETHEMA HEALTH CORPORATION (GRST) had a net profit margin of -11.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ETHEMA HEALTH CORPORATION's free cash flow?

ETHEMA HEALTH CORPORATION (GRST) recorded an outflow of $311K in free cash flow during fiscal year 2025. This represents a 39.8% 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 ETHEMA HEALTH CORPORATION's operating cash flow?

ETHEMA HEALTH CORPORATION (GRST) recorded an outflow of $33K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are ETHEMA HEALTH CORPORATION's total assets?

ETHEMA HEALTH CORPORATION (GRST) had $28.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are ETHEMA HEALTH CORPORATION's capital expenditures?

ETHEMA HEALTH CORPORATION (GRST) invested $278K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is ETHEMA HEALTH CORPORATION's current ratio?

ETHEMA HEALTH CORPORATION (GRST) had a current ratio of 0.10 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is ETHEMA HEALTH CORPORATION's return on assets (ROA)?

ETHEMA HEALTH CORPORATION (GRST) had a return on assets of -7.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ETHEMA HEALTH CORPORATION's P/E ratio?

ETHEMA HEALTH CORPORATION (GRST) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $773K as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ETHEMA HEALTH CORPORATION's price-to-sales ratio?

ETHEMA HEALTH CORPORATION (GRST) trades at 0.0x sales, its market capitalization divided by revenue of $18.8M revenue, FY2025. The market capitalization is $773K as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does ETHEMA HEALTH CORPORATION's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, ETHEMA HEALTH CORPORATION (GRST) held $60K in cash, cash equivalents and investments, and reported an operating cash outflow of $33K over that year. Dividing the one by the other, the reported balance equals about 22 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

Why is ETHEMA HEALTH CORPORATION's debt-to-equity ratio negative or not reported?

ETHEMA HEALTH CORPORATION (GRST) has negative shareholder equity of -$9.6M 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 ETHEMA HEALTH CORPORATION's Altman Z-Score?

ETHEMA HEALTH CORPORATION (GRST) has an Altman Z-Score of -2.21, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ETHEMA HEALTH CORPORATION's Piotroski F-Score?

ETHEMA HEALTH CORPORATION (GRST) has a Piotroski F-Score of 4 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 ETHEMA HEALTH CORPORATION's earnings high quality?

ETHEMA HEALTH CORPORATION (GRST) reported a net loss of $2.2M while operations used $33K 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.

Can ETHEMA HEALTH CORPORATION cover its interest payments?

ETHEMA HEALTH CORPORATION (GRST) reported an operating loss of $260K against $1.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.