What is Horizon Techn's earnings per share (EPS)?

Horizon Techn (HRZN) reported diluted earnings per share of $-0.06 for fiscal year 2025. This represents a 62.5% change compared to the previous fiscal year. 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.

Horizon Techn Financials

HRZN

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Horizon Techn (HRZN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 HRZN FY2025 2026-04-30

Cash recovery is starting to fund this leveraged lending balance sheet, but dividends still absorb most internally generated cash.

From FY2023 to FY2025, operating cash flow moved from -$5.3M to $56.6M. At the same time, financing cash flow reversed from a $50.5M inflow to a -$14.8M outflow, which suggests the portfolio was generating enough cash to reduce reliance on fresh external funding.

In FY2025, interest expense was $32.8M while the net loss was only -$2.7M, showing that funding cost is the main force keeping a large asset base from producing positive earnings. That makes this a spread-sensitive model: preserving the gap between asset income and borrowing cost matters more than trimming overhead.

FY2025 dividends paid of $53.1M nearly matched operating cash flow of $56.6M, so most internally generated cash was distributed rather than used to materially de-lever the balance sheet. Over FY2023 to FY2025, shares outstanding climbed from 33.4M to 45.6M, meaning part of the platform's support came from adding equity capital instead of rebuilding retained earnings.

Financial Health Signals

Financial Profile 13/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Horizon Techn'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.

Leverage

Horizon Techn carries a low D/E ratio of 1.49, meaning only $1.49 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Returns

Horizon Techn generates a -0.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 7/100. This is up from -1.7% the prior year.

Piotroski F-Score Weak

3/9

Horizon Techn passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Mixed

-21.28x

For every $1 of reported earnings, Horizon Techn generates $-21.28 in operating cash flow ($56.6M OCF vs -$2.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$2.7M

YoY+52.8%

Horizon Techn reported -$2.7M in net income in fiscal year 2025. This represents an increase of 52.8% from the prior year.

EPS (Diluted)

$-0.06

YoY+62.5%

Horizon Techn earned $-0.06 per diluted share (EPS) in fiscal year 2025. This represents an increase of 62.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$142.7M

YoY+41.5%

5Y CAGR+24.5%

Horizon Techn held $142.7M in cash against $473.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.32

YoY-3.6%

5Y CAGR+1.1%

Horizon Techn paid $1.32 per share in dividends in fiscal year 2025. This represents a decrease of 3.6% from the prior year.

Shares Outstanding

46M

YoY+14.4%

5Y CAGR+18.8%

Horizon Techn had 46M shares outstanding in fiscal year 2025. This represents an increase of 14.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-0.8%

YoY+0.8pp

Horizon Techn's ROE was -0.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

HRZN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	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
SG&A Expenses	$1.9M+4.0%	$1.9M+1.6%	$1.8M+25.9%	$1.5M-3.4%	$1.5M+27.0%	$1.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$32.8M+1.7%	$32.3M+11.3%	$29.0M+50.9%	$19.2M+59.6%	$12.0M+24.4%	$9.7M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.7M+52.8%	-$5.6M+67.2%	-$17.2M-181.2%	$21.2M-23.9%	$27.8M+336.5%	$6.4M
EPS (Diluted)	$-0.06+62.5%	$-0.16+71.4%	$-0.56-165.1%	$0.86	N/A	N/A

Metric	Q1'26	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	N/A
Cost of Revenue	N/A	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	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$380K	N/A	$437K-28.7%	$613K+43.6%	$427K	N/A	$432K-22.7%	$559K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$8.2M	N/A	$7.9M-3.7%	$8.2M-5.5%	$8.7M	N/A	$7.9M+0.1%	$7.9M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$2.8M	N/A	$30.7M+247.9%	-$20.8M+3.1%	-$21.4M	N/A	$7.3M+179.7%	-$9.1M
EPS (Diluted)	$0.06	N/A	$0.68+236.0%	$-0.50+5.7%	$-0.53	N/A	$0.20+176.9%	$-0.26

HRZN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$811.1M-1.3%	$821.8M+2.4%	$802.4M+4.6%	$766.8M+49.2%	$514.0M	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$142.7M+41.5%	$100.9M+33.2%	$75.7M+148.5%	$30.5M-35.6%	$47.3M-1.0%	$47.8M
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$492.6M+1.4%	$485.6M+1.5%	$478.4M+6.7%	$448.4M+66.9%	$268.6M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$473.0M+1.1%	$467.9M+1.2%	$462.2M+6.5%	$434.1M+68.5%	$257.6M	N/A
Total Equity	$318.5M-5.3%	$336.2M+3.8%	$324.0M+1.7%	$318.4M+29.8%	$245.3M	N/A
Retained Earnings	-$240.9M-32.3%	-$182.1M-43.4%	-$127.0M-88.1%	-$67.5M-20.4%	-$56.0M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$791.6M-2.4%	$811.1M+6.8%	$759.2M+4.5%	$726.8M-8.0%	$789.6M-3.9%	$821.8M+3.6%	$793.1M+0.7%	$787.4M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$73.3M-48.7%	$142.7M+9.0%	$130.9M+61.3%	$81.2M+4.8%	$77.5M-23.2%	$100.9M+16.4%	$86.6M-25.9%	$116.9M
Inventory	N/A	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	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$457.8M-7.1%	$492.6M+11.1%	$443.5M+0.1%	$443.0M-8.5%	$484.1M-0.3%	$485.6M+7.8%	$450.5M-1.8%	$458.6M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$447.2M-5.5%	$473.0M+11.6%	$424.0M-0.3%	$425.1M-9.0%	$467.3M-0.1%	$467.9M+7.8%	$434.0M-2.0%	$442.7M
Total Equity	$333.9M+4.8%	$318.5M+0.9%	$315.7M+11.2%	$283.8M-7.1%	$305.5M-9.1%	$336.2M-1.9%	$342.5M+4.2%	$328.8M
Retained Earnings	-$241.4M-0.2%	-$240.9M-2.2%	-$235.7M+6.3%	-$251.7M-16.0%	-$216.9M-19.1%	-$182.1M-15.3%	-$157.9M-3.4%	-$152.6M

HRZN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$56.6M+1338.4%	$3.9M+174.9%	-$5.3M+97.9%	-$246.3M-224.1%	-$76.0M-200.6%	-$25.3M
Capital Expenditures	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
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$14.8M-169.8%	$21.2M-58.0%	$50.5M-78.0%	$229.5M+203.9%	$75.5M+35.7%	$55.7M
Dividends Paid	$53.1M+14.5%	$46.4M+14.4%	$40.5M+35.8%	$29.8M+21.6%	$24.6M+15.2%	$21.3M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$42.1M-38.5%	-$30.4M-160.1%	$50.6M+2.1%	$49.6M+476.2%	-$13.2M+49.6%	-$26.1M+7.5%	-$28.3M-152.0%	$54.3M
Capital Expenditures	N/A	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	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$27.3M-164.7%	$42.2M+4885.9%	-$882K+98.1%	-$45.9M-349.3%	-$10.2M-125.3%	$40.4M+2149.6%	-$2.0M+77.5%	-$8.7M
Dividends Paid	$14.7M+4.8%	$14.0M+4.1%	$13.5M+4.4%	$12.9M+1.2%	$12.7M+5.6%	$12.1M+6.2%	$11.4M-9.5%	$12.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HRZN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-0.8%+0.8pp	-1.7%+3.6pp	-5.3%-11.9pp	6.6%-4.7pp	11.3%	N/A
Return on Assets	-0.3%+0.4pp	-0.7%+1.4pp	-2.1%-4.9pp	2.8%-2.7pp	5.4%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.49+0.1	1.39-0.0	1.43+0.1	1.36+0.3	1.05	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	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	N/A
Operating Margin	N/A	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	N/A
Return on Equity	0.8%	N/A	9.7%+17.0pp	-7.3%-0.3pp	-7.0%	N/A	2.1%+4.9pp	-2.8%
Return on Assets	0.4%	N/A	4.0%+6.9pp	-2.9%-0.2pp	-2.7%	N/A	0.9%+2.1pp	-1.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.34-0.1	1.49+0.1	1.34-0.2	1.50-0.0	1.53+0.1	1.39+0.1	1.27-0.1	1.35
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Horizon Techn profitable?

No, Horizon Techn (HRZN) reported a net income of -$2.7M in fiscal year 2025.

How much debt does Horizon Techn have?

As of fiscal year 2025, Horizon Techn (HRZN) had $142.7M in cash and equivalents against $473.0M in long-term debt.

Does Horizon Techn pay dividends?

Yes, Horizon Techn (HRZN) paid $1.32 per share in dividends during fiscal year 2025.

What is Horizon Techn's return on equity (ROE)?

Horizon Techn (HRZN) has a return on equity of -0.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Horizon Techn's operating cash flow?

Horizon Techn (HRZN) generated $56.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Horizon Techn's total assets?

Horizon Techn (HRZN) had $811.1M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Horizon Techn have outstanding?

Horizon Techn (HRZN) had 46M shares outstanding as of fiscal year 2025.

What is Horizon Techn's debt-to-equity ratio?

Horizon Techn (HRZN) had a debt-to-equity ratio of 1.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Horizon Techn's return on assets (ROA)?

Horizon Techn (HRZN) had a return on assets of -0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Horizon Techn's Piotroski F-Score?

Horizon Techn (HRZN) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 Horizon Techn's earnings high quality?

Horizon Techn (HRZN) has an earnings quality ratio of -21.28x, considered mixed quality. 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 Horizon Techn?

Horizon Techn (HRZN) scores 13 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.