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 Oct 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed May 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LUDG SEC filings page.
This page shows LUDWIG ENTERPRISES (LUDG) 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).
The business is funded primarily by financing inflows while liabilities vastly exceed assets and operations continue consuming cash.
Operating cash flow remained negative at-$645K in FY2025 while financing supplied$647K , showing that reported funding roughly offset cash absorbed by operations rather than operations funding themselves. That relationship persisted even as the balance sheet became more burdened.
By FY2025, liabilities were
The current ratio was just 0.1x in FY2025, so reported current assets covered only a small fraction of current liabilities. The supplied liquidity comparison was 0 months against the latest annual operating outflow, reinforcing the recorded dependence on financing for cash needs.
Financial Health Signals
LUDWIG ENTERPRISES does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
LUDWIG ENTERPRISES reported $219K in net income in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
LUDWIG ENTERPRISES earned $0.00 per diluted share (EPS) in Q1 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q1 2026.
Not reported for Q1 2026.
Cash & Balance Sheet
LUDWIG ENTERPRISES held $18K in cash as of Q1 2026; no long-term debt figure is on record for that period.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
None of these metrics is reported for Q1 2026.
Capital Allocation
LUDWIG ENTERPRISES invested $9K in research and development in Q1 2026. This represents a decrease of 87.5% from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
LUDG 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $207 | N/A |
| R&D Expenses | $9K-87.5% | N/A | $80K+90.8% | $76K+6.3% | $74K | N/A | $42K+22.0% | $72K |
| SG&A Expenses | $556K+23.3% | N/A | $291K-6.9% | $510K+121.8% | $451K+23.3% | N/A | $313K | $230K-16.1% |
| Operating Income | -$565Kn/m | N/A | -$371Kn/m | -$586Kn/m | -$525Kn/m | N/A | -$355K | -$301Kn/m |
| Interest Expense | $92K+349.8% | N/A | $33K+94.1% | $6K-56.2% | $20K+166.6% | N/A | $17K+320.1% | $14K+444.7% |
| Net Income | $219Kn/m | N/A | $31K | -$649Kn/m | -$541Kn/m | N/A | N/A | -$364Kn/m |
| EPS (Basic) | $0.00 | $0.00n/m | $0.00 | $0.00n/m | $0.00n/m | $0.00n/m | $0.00 | $0.00 |
| EPS (Diluted) | $0.00 | $0.00n/m | $0.00 | $0.00n/m | $0.00n/m | $0.00n/m | $0.00 | $0.00 |
| Diluted Shares (Avg) | 865M | N/A | 862M | 162M+1.6% | 161M+3.7% | N/A | 159M | 159M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EBITDA, Income Tax.
LUDG 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3M+400.0% | $248K+25.3% | $262K+91.1% | $401K+63.0% | $253K-27.7% | $198K+75.7% | $137K+1171.4% | $246K |
| Current Assets | $255K+1.0% | $238K+20.7% | $253K+84.7% | $401K+62.8% | $253K-27.7% | $198K+75.7% | $137K+1171.4% | $246K |
| Cash & Equivalents | $18K+10.6% | $0-100.0% | $3K-92.3% | $142K-29.4% | $17K-95.2% | $217-99.8% | $43K+553.9% | $202K+135.4% |
| Short-Term Investments | $175Kn/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $5K+48.6% | $5K+48.6% | $5K | $3K | $3K | $3K | N/A | N/A |
| Long-Term Investments | $1.0Mn/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $5.3M+76.1% | $4.6M+80.0% | $3.6M+44.9% | $3.8M+68.4% | $3.0M+50.5% | $2.6M+63.6% | $2.5M+81.9% | $2.3M |
| Current Liabilities | $5.3M+76.1% | $4.6M+80.0% | $3.6M+44.9% | $3.8M+68.4% | $3.0M+50.5% | $2.6M+63.6% | $2.5M+81.9% | $2.3M |
| Non-Current Liabilities | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $584K-8.8% | $490K-29.3% |
| Total Equity | -$4.0Mn/m | -$4.4Mn/m | -$3.3Mn/m | -$3.4Mn/m | -$2.8Mn/m | -$2.4Mn/m | -$2.3Mn/m | -$2.0Mn/m |
| Retained Earnings | -$9.3Mn/m | -$9.5Mn/m | -$8.4Mn/m | -$8.4Mn/m | -$7.8Mn/m | -$7.3Mn/m | -$7.1Mn/m | -$6.2M |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.
LUDG 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$153Kn/m | -$13Kn/m | -$131Kn/m | -$411Kn/m | -$90Kn/m | -$136Kn/m | -$193K | -$229Kn/m |
| Stock-Based Compensation | -$39K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | -$411 | -$8K | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $171K+72.0% | $10K-89.9% | $0-100.0% | $538K+532.7% | $99K-70.8% | $100K-41.3% | $34Kn/m | $85Kn/m |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
LUDG 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | -171275.4% | N/A |
| Return on Assets | 17.3%+231.2pp | N/A | 11.9% | -161.8%-13.9pp | -213.9%+246.9pp | N/A | N/A | -148.0% |
| Current Ratio | 0.050.0x | 0.050.0x | 0.070.0x | 0.110.0x | 0.08-0.1x | 0.080.0x | 0.060.0x | 0.11 |
| Asset Turnover | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Net Margin, Return on Equity, Debt-to-Equity, Liabilities-to-Equity, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin.
Note: Shareholder equity is negative (-$4.4M), which causes the debt-to-equity, liabilities-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 (0.05), 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 |
|---|---|---|---|---|---|---|
| LUDWIG ENTERPRISES LUDG | FY2025 | N/A | N/A | N/A | $585K | — |
| CS DIAGNOSTICS CORP CSDX | FY2024 | N/A | $761 | N/A | $1.8M | — |
| BIOTRICITY INC BTCY | FY2026 | $16.0M | -$2.4M | -15.0% | N/A | — |
Where LUDWIG ENTERPRISES Ranks
Frequently Asked Questions
What is LUDWIG ENTERPRISES's operating cash flow?
LUDWIG ENTERPRISES (LUDG) recorded an outflow of $645K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are LUDWIG ENTERPRISES's total assets?
LUDWIG ENTERPRISES (LUDG) had $248K in total assets as of fiscal year 2025, including both current and long-term assets.
How much does LUDWIG ENTERPRISES spend on research and development?
LUDWIG ENTERPRISES (LUDG) invested $232K in research and development during fiscal year 2025.
What is LUDWIG ENTERPRISES's current ratio?
LUDWIG ENTERPRISES (LUDG) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is LUDWIG ENTERPRISES's P/E ratio?
LUDWIG ENTERPRISES (LUDG) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $585K as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is LUDWIG ENTERPRISES's price-to-sales ratio?
LUDWIG ENTERPRISES (LUDG) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $585K as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does LUDWIG ENTERPRISES's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, LUDWIG ENTERPRISES (LUDG) held $0 in cash, cash equivalents and investments, and reported an operating cash outflow of $645K over that year. Dividing the one by the other, the reported balance equals about 0 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 LUDWIG ENTERPRISES's debt-to-equity ratio negative or not reported?
LUDWIG ENTERPRISES (LUDG) has negative shareholder equity of -$4.4M as of fiscal year 2025, so no debt-to-equity or liabilities-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.