Grayscale Litecoin Trust Financials

LTCN

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

This page shows Grayscale Litecoin Trust (LTCN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 LTCN FY2025 2026-05-05

A debt-free, balance-sheet-driven structure makes results swing with asset value changes rather than operating revenue.

Because liabilities stayed at $0 from FY2022 through FY2025, return on assets and return on equity matched exactly each year, so gains and losses were not being amplified by borrowing. The move from -$144.3M net income in FY2022 to $79.3M in FY2023, then -$52.3M in FY2024 and $19.4M in FY2025, shows reported earnings behaving more like periodic revaluation of assets than output from a recurring operating model.

With total assets equal to total equity in every reported year, the capital structure is unusually clean: there is no debt-service drag, but also no leverage to smooth or magnify returns. Assets still rose from $79.4M in FY2022 to $175.9M in FY2025 despite large interim profit swings, so balance-sheet size and annual earnings are related but not tightly coupled.

Some figures from recent filings were inconsistent and were omitted from this summary.

Financial Health Signals

Financial Profile 20/100

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 Grayscale Litecoin Trust'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

100

Grayscale Litecoin Trust carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns

Grayscale Litecoin Trust generates a 11.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is up from -39.1% the prior year.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$19.4M

YoY+137.1%

Grayscale Litecoin Trust reported $19.4M in net income in fiscal year 2025. This represents an increase of 137.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

11.0%

YoY+50.1pp

Grayscale Litecoin Trust's ROE was 11.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 50.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

LTCN Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A
Net Income	$19.4M+137.1%	-$52.3M-166.0%	$79.3M+154.9%	-$144.3M
EPS (Diluted)	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$45.7M+25.9%	-$61.7M-260.1%	$38.5M	N/A	-$41.3M-160.6%	$68.1M+585.3%	-$14.0M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LTCN Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$175.9M+31.4%	$133.8M-15.7%	$158.7M+99.8%	$79.4M
Current Assets	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$0	$0	$0	$0
Current Liabilities	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$175.9M+31.4%	$133.8M-15.7%	$158.7M+99.8%	$79.4M
Retained Earnings	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$107.0M-29.9%	$152.7M-28.8%	$214.4M+21.9%	$175.9M+3.9%	$169.3M-18.9%	$208.8M+63.7%	$127.5M-4.7%	$133.8M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$0	$0	$0	$0	$0	$0	$0	$0
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$107.0M-29.9%	$152.7M-28.8%	$214.4M+21.9%	$175.9M+3.9%	$169.3M-18.9%	$208.8M+63.7%	$127.5M-4.7%	$133.8M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LTCN Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	11.0%+50.1pp	-39.1%-89.0pp	50.0%+231.7pp	-181.7%
Return on Assets	11.0%+50.1pp	-39.1%-89.0pp	50.0%+231.7pp	-181.7%
Current Ratio	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
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	-42.7%-2.3pp	-40.4%-58.4pp	18.0%	N/A	-24.4%-57.0pp	32.6%+43.6pp	-11.0%	N/A
Return on Assets	-42.7%-2.3pp	-40.4%-58.4pp	18.0%	N/A	-24.4%-57.0pp	32.6%+43.6pp	-11.0%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Grayscale Litecoin Trust profitable?

Yes, Grayscale Litecoin Trust (LTCN) reported a net income of $19.4M in fiscal year 2025.

What is Grayscale Litecoin Trust's return on equity (ROE)?

Grayscale Litecoin Trust (LTCN) has a return on equity of 11.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What are Grayscale Litecoin Trust's total assets?

Grayscale Litecoin Trust (LTCN) had $175.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What is Grayscale Litecoin Trust's debt-to-equity ratio?

Grayscale Litecoin Trust (LTCN) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Grayscale Litecoin Trust's return on assets (ROA)?

Grayscale Litecoin Trust (LTCN) had a return on assets of 11.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How financially healthy is Grayscale Litecoin Trust?

Grayscale Litecoin Trust (LTCN) scores 20 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.