Hydrofarm Holdings Group, Inc. Financials
This page shows Hydrofarm Holdings Group, Inc. (HYFM) 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Hydrofarm Holdings Group, Inc. has an operating margin of -27.4%, meaning the company retains $-27 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -21.9% the prior year.
Hydrofarm Holdings Group, Inc.'s revenue declined 16% year-over-year, from $226.6M to $190.3M. This contraction results in a growth score of 0/100.
Hydrofarm Holdings Group, Inc. carries a low D/E ratio of 0.51, meaning only $0.51 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.72, Hydrofarm Holdings Group, Inc. holds $2.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.
While Hydrofarm Holdings Group, Inc. generated -$324K in operating cash flow, capex of $2.9M consumed most of it, leaving -$3.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Hydrofarm Holdings Group, Inc. passes 3 of 9 financial strength tests. 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, Hydrofarm Holdings Group, Inc. generates $0.00 in operating cash flow (-$324K OCF vs -$66.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Hydrofarm Holdings Group, Inc. earns $-3.4 in operating income for every $1 of interest expense (-$52.2M vs $15.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Hydrofarm Holdings Group, Inc. generated $190.3M in revenue in fiscal year 2024. This represents a decrease of 16.0% from the prior year.
Hydrofarm Holdings Group, Inc.'s EBITDA was -$21.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 21.9% from the prior year.
Hydrofarm Holdings Group, Inc. generated -$3.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 213.7% from the prior year.
Hydrofarm Holdings Group, Inc. reported -$66.7M in net income in fiscal year 2024. This represents a decrease of 2.9% from the prior year.
Hydrofarm Holdings Group, Inc. earned $-14.51 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 1.9% from the prior year.
Hydrofarm Holdings Group, Inc. held $26.1M in cash against $114.7M in long-term debt as of fiscal year 2024.
Hydrofarm Holdings Group, Inc. had 5M shares outstanding in fiscal year 2024. This represents an increase of 0.8% from the prior year.
Hydrofarm Holdings Group, Inc.'s gross margin was 16.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.
Hydrofarm Holdings Group, Inc.'s operating margin was -27.4% in fiscal year 2024, reflecting core business profitability. This is down 5.5 percentage points from the prior year.
Hydrofarm Holdings Group, Inc.'s net profit margin was -35.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 6.5 percentage points from the prior year.
Hydrofarm Holdings Group, Inc. invested $2.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 31.4% from the prior year.
HYFM Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.4M-25.2% | $39.2M-3.2% | $40.5M+8.6% | $37.3M-31.9% | $54.8M+1.1% | $54.2M+14.8% | $47.2M-12.9% | $54.2M |
| Cost of Revenue | $25.9M-28.8% | $36.5M+8.3% | $33.7M-5.1% | $35.5M-19.3% | $43.9M+1.6% | $43.2M+11.6% | $38.7M-23.8% | $50.9M |
| Gross Profit | $3.4M+22.0% | $2.8M-59.4% | $6.9M+274.2% | $1.8M-83.1% | $10.9M-0.7% | $10.9M+29.3% | $8.4M+155.3% | $3.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $16.4M+1.4% | $16.1M-9.6% | $17.9M+5.3% | $17.0M-9.1% | $18.7M-4.9% | $19.6M-1.3% | $19.9M+1.7% | $19.5M |
| Operating Income | -$13.0M+2.9% | -$13.3M-21.5% | -$11.0M+27.3% | -$15.1M+21.8% | -$19.3M-122.3% | -$8.7M+23.9% | -$11.4M+29.6% | -$16.2M |
| Interest Expense | $3.3M-1.8% | $3.4M+0.4% | $3.4M-5.8% | $3.6M-5.9% | $3.8M-3.1% | $3.9M-2.2% | $4.0M+1.4% | $4.0M |
| Income Tax | $125K+227.6% | -$98K-219.5% | $82K+1950.0% | $4K-99.0% | $390K+99.0% | $196K+249.6% | -$131K-247.2% | $89K |
| Net Income | -$16.4M+2.8% | -$16.9M-17.2% | -$14.4M+17.9% | -$17.5M+25.3% | -$23.4M-86.0% | -$12.6M+17.1% | -$15.2M+23.5% | -$19.9M |
| EPS (Diluted) | $-3.51+3.3% | $-3.63-16.3% | $-3.12+17.9% | $-3.80 | $-5.10-85.5% | $-2.75 | $-13.15 | $-0.44 |
HYFM Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $369.7M-5.2% | $389.9M-5.0% | $410.6M-3.6% | $426.1M-8.0% | $463.4M-6.2% | $494.0M-2.7% | $507.6M-2.8% | $522.4M |
| Current Assets | $62.6M-14.3% | $73.0M-17.6% | $88.7M-6.9% | $95.2M-14.7% | $111.7M-9.9% | $124.0M-3.2% | $128.1M-4.4% | $133.9M |
| Cash & Equivalents | $10.7M-3.1% | $11.0M-19.9% | $13.7M-47.4% | $26.1M-13.9% | $30.3M+25.5% | $24.2M-20.3% | $30.3M-6.6% | $32.5M |
| Inventory | $38.3M-13.2% | $44.2M-11.5% | $49.9M-1.4% | $50.6M-13.8% | $58.7M-18.8% | $72.3M-4.0% | $75.4M-5.9% | $80.1M |
| Accounts Receivable | $10.0M-30.0% | $14.3M-31.6% | $20.9M+41.8% | $14.8M-20.5% | $18.6M-17.4% | $22.5M+33.0% | $16.9M-1.1% | $17.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $191.4M-1.8% | $194.9M-2.9% | $200.6M-0.9% | $202.4M-2.9% | $208.3M-3.5% | $216.0M-0.5% | $217.0M-0.7% | $218.5M |
| Current Liabilities | $30.1M-4.2% | $31.5M-21.2% | $39.9M+14.2% | $35.0M-1.4% | $35.5M-9.8% | $39.3M+4.4% | $37.7M+6.4% | $35.4M |
| Long-Term Debt | $111.7M+0.2% | $111.6M+1.4% | $110.0M-4.1% | $114.7M-0.2% | $114.9M-0.4% | $115.4M0.0% | $115.4M-1.5% | $117.2M |
| Total Equity | $178.3M-8.6% | $195.0M-7.1% | $209.9M-6.2% | $223.7M-12.3% | $255.0M-8.3% | $278.0M-4.3% | $290.6M-4.4% | $303.9M |
| Retained Earnings | -$605.1M-2.8% | -$588.7M-2.9% | -$571.8M-2.6% | -$557.5M-5.8% | -$526.8M-4.7% | -$503.4M-2.6% | -$490.7M-3.2% | -$475.5M |
HYFM Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$37K-102.2% | $1.7M+114.6% | -$11.8M-542.9% | $2.7M-29.8% | $3.8M+264.7% | -$2.3M-44.9% | -$1.6M-120.7% | $7.7M |
| Capital Expenditures | $170K-39.5% | $281K+15.2% | $244K-9.6% | $270K-26.6% | $368K-74.5% | $1.4M+806.9% | $159K-78.8% | $750K |
| Free Cash Flow | -$207K-114.4% | $1.4M+112.0% | -$12.0M-603.2% | $2.4M-30.2% | $3.4M+191.4% | -$3.7M-114.4% | -$1.7M-125.2% | $6.9M |
| Investing Cash Flow | -$107K+57.7% | -$253K-2.0% | -$248K-219.2% | $208K-94.4% | $3.7M+361.9% | -$1.4M-1157.1% | -$112K+85.9% | -$795K |
| Financing Cash Flow | -$121K+97.4% | -$4.7M-1040.0% | -$413K+15.5% | -$489K+59.9% | -$1.2M+48.3% | -$2.4M-307.3% | -$579K+27.9% | -$803K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HYFM Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.6%+4.5pp | 7.1%-9.8pp | 17.0%+12.0pp | 4.9%-14.9pp | 19.8%-0.4pp | 20.2%+2.3pp | 17.9%+11.8pp | 6.1% |
| Operating Margin | -44.1%-10.1pp | -34.0%-6.9pp | -27.1%+13.4pp | -40.5%-5.2pp | -35.3%-19.2pp | -16.1%+8.2pp | -24.2%+5.8pp | -30.0% |
| Net Margin | -55.8%-12.9pp | -43.0%-7.5pp | -35.5%+11.4pp | -46.9%-4.1pp | -42.8%-19.5pp | -23.3%+9.0pp | -32.3%+4.5pp | -36.7% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -4.4%-0.1pp | -4.3%-0.8pp | -3.5%+0.6pp | -4.1%+1.0pp | -5.1%-2.5pp | -2.5%+0.5pp | -3.0%+0.8pp | -3.8% |
| Current Ratio | 2.08-0.2 | 2.32+0.1 | 2.22-0.5 | 2.72-0.4 | 3.150.0 | 3.15-0.2 | 3.40-0.4 | 3.78 |
| Debt-to-Equity | 0.63+0.1 | 0.57+0.0 | 0.52+0.0 | 0.51+0.1 | 0.45+0.0 | 0.41+0.0 | 0.40+0.0 | 0.39 |
| FCF Margin | -0.7%-4.4pp | 3.7%+33.3pp | -29.6%-36.0pp | 6.4%+0.2pp | 6.2%+13.1pp | -6.9%-3.2pp | -3.7%-16.5pp | 12.8% |
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Frequently Asked Questions
What is Hydrofarm Holdings Group, Inc.'s annual revenue?
Hydrofarm Holdings Group, Inc. (HYFM) reported $190.3M in total revenue for fiscal year 2024. This represents a -16.0% 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 Hydrofarm Holdings Group, Inc.'s revenue growing?
Hydrofarm Holdings Group, Inc. (HYFM) revenue declined by 16% year-over-year, from $226.6M to $190.3M in fiscal year 2024.
Is Hydrofarm Holdings Group, Inc. profitable?
No, Hydrofarm Holdings Group, Inc. (HYFM) reported a net income of -$66.7M in fiscal year 2024, with a net profit margin of -35.1%.
What is Hydrofarm Holdings Group, Inc.'s earnings per share (EPS)?
Hydrofarm Holdings Group, Inc. (HYFM) reported diluted earnings per share of $-14.51 for fiscal year 2024. This represents a -1.9% 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.
What is Hydrofarm Holdings Group, Inc.'s EBITDA?
Hydrofarm Holdings Group, Inc. (HYFM) had EBITDA of -$21.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hydrofarm Holdings Group, Inc. have?
As of fiscal year 2024, Hydrofarm Holdings Group, Inc. (HYFM) had $26.1M in cash and equivalents against $114.7M in long-term debt.
What is Hydrofarm Holdings Group, Inc.'s gross margin?
Hydrofarm Holdings Group, Inc. (HYFM) had a gross margin of 16.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hydrofarm Holdings Group, Inc.'s operating margin?
Hydrofarm Holdings Group, Inc. (HYFM) had an operating margin of -27.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Hydrofarm Holdings Group, Inc.'s net profit margin?
Hydrofarm Holdings Group, Inc. (HYFM) had a net profit margin of -35.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Hydrofarm Holdings Group, Inc.'s free cash flow?
Hydrofarm Holdings Group, Inc. (HYFM) generated -$3.2M in free cash flow during fiscal year 2024. This represents a -213.7% 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 Hydrofarm Holdings Group, Inc.'s operating cash flow?
Hydrofarm Holdings Group, Inc. (HYFM) generated -$324K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Hydrofarm Holdings Group, Inc.'s total assets?
Hydrofarm Holdings Group, Inc. (HYFM) had $426.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Hydrofarm Holdings Group, Inc.'s capital expenditures?
Hydrofarm Holdings Group, Inc. (HYFM) invested $2.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Hydrofarm Holdings Group, Inc. have outstanding?
Hydrofarm Holdings Group, Inc. (HYFM) had 5M shares outstanding as of fiscal year 2024.
What is Hydrofarm Holdings Group, Inc.'s current ratio?
Hydrofarm Holdings Group, Inc. (HYFM) had a current ratio of 2.72 as of fiscal year 2024, which is generally considered healthy.
What is Hydrofarm Holdings Group, Inc.'s debt-to-equity ratio?
Hydrofarm Holdings Group, Inc. (HYFM) had a debt-to-equity ratio of 0.51 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hydrofarm Holdings Group, Inc.'s return on assets (ROA)?
Hydrofarm Holdings Group, Inc. (HYFM) had a return on assets of -15.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Hydrofarm Holdings Group, Inc.'s cash runway?
Based on fiscal year 2024 data, Hydrofarm Holdings Group, Inc. (HYFM) had $26.1M in cash against an annual operating cash burn of $324K. This gives an estimated cash runway of approximately 967 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Hydrofarm Holdings Group, Inc.'s Piotroski F-Score?
Hydrofarm Holdings Group, Inc. (HYFM) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hydrofarm Holdings Group, Inc.'s earnings high quality?
Hydrofarm Holdings Group, Inc. (HYFM) has an earnings quality ratio of 0.00x, considered low quality (accrual-driven). 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 Hydrofarm Holdings Group, Inc. cover its interest payments?
Hydrofarm Holdings Group, Inc. (HYFM) has an interest coverage ratio of -3.4x, meaning it can struggle to cover its interest obligations. 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.
How financially healthy is Hydrofarm Holdings Group, Inc.?
Hydrofarm Holdings Group, Inc. (HYFM) scores 36 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.