What is Mj Holdings's earnings per share (EPS)?

Mj Holdings (MJNE) reported diluted earnings per share of $-0.07 for fiscal year 2022. This represents a -240.0% 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.

Mj Holdings Financials

MJNE

Source SEC Filings (10-K/10-Q) Data as of Sep 30, 2023 Currency USD FYE December

This page shows Mj Holdings (MJNE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 MJNE FY2022 2026-04-22

Balance-sheet liquidity, not customer demand, has been sustaining a company whose operating cash burn remains much larger than revenue.

FY2021's reported profit of $3.5M came alongside -$4.7M of operating cash flow, so earnings and cash were moving in opposite directions. By FY2022, cash conversion had still not normalized: cash had dropped to $1.3M, indicating the business was using its balance sheet to absorb losses rather than being funded by operations.

In FY2022, current liabilities of $4.2M outweighed current assets of $1.6M, leaving a working-capital deficit that constrains day-to-day flexibility. With equity down to $487K, there is little balance-sheet cushion between ongoing losses and creditor claims.

Even after selling and administrative expense fell to $2.0M in FY2022, it still dwarfed revenue of $362K, so the problem is not just weak sales but a cost structure that is oversized for the company's present scale. That mismatch helps explain why operating losses persisted despite lower debt and only modest capital spending.

Financial Health Signals

Financial health score pending refresh

We are recalculating Mj Holdings's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-8.69

Mj Holdings scores -8.69, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($6K) relative to total liabilities ($4.8M). 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

2/8

Mj Holdings passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.68x

For every $1 of reported earnings, Mj Holdings generates $0.68 in operating cash flow (-$3.7M OCF vs -$5.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-43.8x

Mj Holdings earns $-43.8 in operating income for every $1 of interest expense (-$3.4M vs $78K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$362K

YoY+49.8%

Mj Holdings generated $362K in revenue in fiscal year 2022. This represents an increase of 49.8% from the prior year.

EBITDA

-$3.2M

YoY+61.8%

Mj Holdings's EBITDA was -$3.2M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 61.8% from the prior year.

Net Income

-$5.4M

YoY-252.4%

Mj Holdings reported -$5.4M in net income in fiscal year 2022. This represents a decrease of 252.4% from the prior year.

EPS (Diluted)

$-0.07

YoY-240.0%

Mj Holdings earned $-0.07 per diluted share (EPS) in fiscal year 2022. This represents a decrease of 240.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$3.8M

YoY+23.7%

Mj Holdings generated -$3.8M in free cash flow in fiscal year 2022, representing cash available after capex. This represents an increase of 23.7% from the prior year.

Cash & Debt

$1.3M

YoY-71.5%

5Y CAGR-11.8%

10Y CAGR+131.8%

Mj Holdings held $1.3M in cash against $978K in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

79M

YoY+11.7%

5Y CAGR+4.8%

10Y CAGR+20.6%

Mj Holdings had 79M shares outstanding in fiscal year 2022. This represents an increase of 11.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-945.1%

YoY+2630.0pp

Mj Holdings's operating margin was -945.1% in fiscal year 2022, reflecting core business profitability. This is up 2630.0 percentage points from the prior year.

Net Margin

-1485.0%

YoY-2944.6pp

Mj Holdings's net profit margin was -1485.0% in fiscal year 2022, showing the share of revenue converted to profit. This is down 2944.6 percentage points from the prior year.

Return on Equity

-1104.7%

YoY-1195.7pp

5Y CAGR-1086.2pp

Mj Holdings's ROE was -1104.7% in fiscal year 2022, measuring profit generated per dollar of shareholder equity. This is down 1195.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$147K

YoY-54.5%

5Y CAGR+52.9%

10Y CAGR+58.2%

Mj Holdings invested $147K in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents a decrease of 54.5% from the prior year.

MJNE Income Statement

Metric	FY22	FY21	FY22	FY19	FY18	FY17
Revenue	$362K+49.8%	$242K-70.6%	$823K-8.3%	$898K+10914.7%	$8K	N/A
Cost of Revenue	N/A	N/A	$1.2M+1.6%	$1.2M+11777.2%	$10K	N/A
Gross Profit	N/A	N/A	-$384K-32.4%	-$290K-15577.1%	-$2K	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.0M-59.5%	$4.8M+62.2%	$3.0M-56.0%	$6.8M+61.5%	$4.2M+1452.1%	$270K
Operating Income	-$3.4M+60.4%	-$8.6M-126.1%	-$3.8M+48.7%	-$7.5M-55.1%	-$4.8M-1678.2%	-$270K
Interest Expense	$78K-29.3%	$111K-33.8%	$167K+31.0%	$128K+742.6%	$15K-76.5%	$65K
Income Tax	N/A	$277K	N/A	N/A	N/A	N/A
Net Income	-$5.4M-252.4%	$3.5M+189.0%	-$4.0M+51.5%	-$8.2M-63.1%	-$5.0M-1395.9%	-$335K
EPS (Diluted)	$-0.07-240.0%	$0.05+183.3%	$-0.06	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Revenue	$23K-80.4%	$119K+192.3%	$41K	N/A	$713K+2378.2%	$29K-9.7%	$32K	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	$181K+7.9%	$168K-64.5%	$473K	N/A	$2.8M+9416.0%	$29K-98.3%	$1.8M	N/A
Operating Income	-$418K-0.1%	-$418K+26.0%	-$564K	N/A	-$2.1M-2283.0%	-$89K+95.0%	-$1.8M	N/A
Interest Expense	$23K-32.0%	$34K+327.8%	$8K	N/A	$19K+36.3%	$14K-47.3%	$26K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$665K-26.9%	$909K+267.8%	-$542K	N/A	-$2.0M-1609.8%	-$117K+93.2%	-$1.7M	N/A
EPS (Diluted)	$-0.010.0%	$-0.010.0%	$-0.01	N/A	$-0.03	$0.00+100.0%	$-0.02	N/A

MJNE Balance Sheet

Metric	FY22	FY21	FY22	FY19	FY18	FY17
Total Assets	$5.1M-42.0%	$8.8M+18.1%	$7.5M-8.4%	$8.2M+43.9%	$5.7M+97.3%	$2.9M
Current Assets	$1.6M-69.0%	$5.2M+429.6%	$991K+21.2%	$818K-66.8%	$2.5M-2.2%	$2.5M
Cash & Equivalents	$1.3M-71.5%	$4.7M+3898.2%	$118K+412.5%	$23K-59.5%	$57K-97.7%	$2.5M
Inventory	$1.3M0.0%	$1.3M	N/A	N/A	$1.6M	N/A
Accounts Receivable	$10K+27.0%	$8K-15.6%	$9K-19.0%	$12K	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.8M-6.3%	$5.1M-42.2%	$8.8M+44.9%	$6.1M+137.0%	$2.6M+138.0%	$1.1M
Current Liabilities	$4.2M-5.3%	$4.4M-26.6%	$6.0M+99.0%	$3.0M+127.9%	$1.3M+35.9%	$970K
Long-Term Debt	$978K-4.1%	$1.0M-57.6%	$2.4M+1.6%	$2.4M	N/A	N/A
Total Equity	$487K-87.4%	$3.9M+427.1%	-$1.2M-153.5%	$2.2M-29.1%	$3.1M+73.0%	$1.8M
Retained Earnings	-$21.9M-32.7%	-$16.5M+17.6%	-$20.0M-24.7%	-$16.0M-103.8%	-$7.9M-2071.0%	-$363K

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Total Assets	$4.5M+4.2%	$4.3M-0.2%	$4.3M-16.3%	$5.1M-35.6%	$8.0M+7.4%	$7.4M-1.2%	$7.5M-15.1%	$8.8M
Current Assets	$768K+31.0%	$586K+8.7%	$539K-66.8%	$1.6M-45.0%	$3.0M-24.5%	$3.9M-1.7%	$4.0M-24.1%	$5.2M
Cash & Equivalents	$393K+58.1%	$249K-2.8%	$256K-80.9%	$1.3M-33.7%	$2.0M-28.5%	$2.8M-14.8%	$3.3M-29.3%	$4.7M
Inventory	N/A	N/A	N/A	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M
Accounts Receivable	$65K+2.9%	$63K+96.7%	$32K+217.9%	$10K-89.1%	$93K-2.4%	$96K+406.9%	$19K+135.9%	$8K
Goodwill	N/A	N/A	N/A	N/A	$1.5M0.0%	$1.5M	N/A	N/A
Total Liabilities	$3.1M-13.7%	$3.5M-20.6%	$4.5M-6.1%	$4.8M-14.3%	$5.6M+11.4%	$5.0M-8.7%	$5.5M+7.5%	$5.1M
Current Liabilities	$2.2M+5.4%	$2.1M-46.3%	$3.9M-6.5%	$4.2M-14.5%	$4.9M+13.2%	$4.3M-9.9%	$4.8M+8.7%	$4.4M
Long-Term Debt	$855K-0.1%	$856K	N/A	$978K-1.8%	$996K-1.2%	$1.0M	N/A	$1.0M
Total Equity	$1.5M+77.8%	$855K+1659.2%	-$55K-111.3%	$487K-80.7%	$2.5M-0.8%	$2.5M+17.7%	$2.2M-44.2%	$3.9M
Retained Earnings	-$20.8M+3.1%	-$21.5M+4.1%	-$22.4M-2.5%	-$21.9M-10.3%	-$19.8M-11.2%	-$17.8M+2.1%	-$18.2M-10.4%	-$16.5M

MJNE Cash Flow Statement

Metric	FY22	FY21	FY22	FY19	FY18	FY17
Operating Cash Flow	-$3.7M+21.5%	-$4.7M-2399.2%	-$186K+96.0%	-$4.6M+20.2%	-$5.8M-4630.4%	-$122K
Capital Expenditures	$147K-54.5%	$323K+809.2%	$35K-96.8%	$1.1M	N/A	$18K
Free Cash Flow	-$3.8M+23.7%	-$5.0M-2145.0%	-$222K+96.1%	-$5.7M	N/A	-$140K
Investing Cash Flow	$186K-98.3%	$10.8M+30463.9%	-$35K+97.7%	-$1.5M+44.5%	-$2.7M-761.2%	-$318K
Financing Cash Flow	$111K+107.2%	-$1.5M-584.3%	$316K-94.8%	$6.1M+0.6%	$6.1M+105.5%	$3.0M
Dividends Paid	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

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Operating Cash Flow	$240K+357.2%	-$93K+90.2%	-$954K-57.3%	-$607K+59.8%	-$1.5M-147.5%	-$610K+34.4%	-$930K-34.8%	-$690K
Capital Expenditures	$55K	$0-100.0%	$70K+659.7%	$9K-90.4%	$96K	N/A	N/A	$197K
Free Cash Flow	$186K+298.8%	-$93K+90.9%	-$1.0M-66.3%	-$616K+61.6%	-$1.6M	N/A	N/A	-$887K
Investing Cash Flow	-$85K-182.0%	-$30K+70.5%	-$102K-58.7%	-$64K-117.6%	$364K+2430.6%	-$16K+84.1%	-$98K+58.7%	-$238K
Financing Cash Flow	-$11K-109.8%	$116K+505.7%	-$29K-174.8%	-$10K-103.1%	$338K+153.3%	$133K+138.1%	-$350K-131.2%	-$151K
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

MJNE Financial Ratios

Metric	FY22	FY21	FY22	FY19	FY18	FY17
Gross Margin	N/A	N/A	-46.7%-14.4pp	-32.3%-9.6pp	-22.7%	N/A
Operating Margin	-945.1%+2630.0pp	-3575.1%-3110.2pp	-464.9%+365.3pp	-830.1%+58137.7pp	-58967.8%	N/A
Net Margin	-1485.0%-2944.6pp	1459.6%+1941.4pp	-481.8%+428.0pp	-909.9%+60537.1pp	-61447.0%	N/A
Return on Equity	-1104.7%-1195.7pp	91.0%	N/A	-368.8%-208.4pp	-160.4%-141.9pp	-18.6%
Return on Assets	-104.9%-144.8pp	39.9%+92.8pp	-52.9%+47.0pp	-99.9%-11.8pp	-88.1%-76.5pp	-11.6%
Current Ratio	0.39-0.8	1.20+1.0	0.17-0.1	0.27-1.6	1.87-0.7	2.60
Debt-to-Equity	2.01+1.7	0.26	N/A	1.07+0.2	0.82+0.2	0.60
FCF Margin	-1049.4%+1009.7pp	-2059.1%-2032.1pp	-27.0%+612.3pp	-639.3%	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1791.0%-1440.5pp	-350.5%+1033.3pp	-1383.8%	N/A	-296.4%+11.8pp	-308.2%+5283.2pp	-5591.5%	N/A
Net Margin	2850.4%+2087.1pp	763.4%+2092.8pp	-1329.5%	N/A	-280.9%+126.2pp	-407.2%+4996.2pp	-5403.3%	N/A
Return on Equity	43.8%-62.6pp	106.4%	N/A	N/A	-79.2%-74.6pp	-4.6%+74.9pp	-79.5%	N/A
Return on Assets	14.9%-6.3pp	21.2%+33.8pp	-12.6%	N/A	-25.1%-23.6pp	-1.6%+21.3pp	-22.9%	N/A
Current Ratio	0.35+0.1	0.28+0.1	0.14-0.3	0.39-0.2	0.61-0.3	0.91+0.1	0.83-0.4	1.20
Debt-to-Equity	0.56-0.4	1.00	N/A	2.01+1.6	0.390.0	0.40-2.1	2.52+2.3	0.26
FCF Margin	796.3%+874.8pp	-78.5%+2434.8pp	-2513.3%	N/A	-225.2%	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.39), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Mj Holdings's annual revenue?

Mj Holdings (MJNE) reported $362K in total revenue for fiscal year 2022. This represents a 49.8% 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 Mj Holdings's revenue growing?

Mj Holdings (MJNE) revenue grew by 49.8% year-over-year, from $242K to $362K in fiscal year 2022.

Is Mj Holdings profitable?

No, Mj Holdings (MJNE) reported a net income of -$5.4M in fiscal year 2022, with a net profit margin of -1485.0%.

What is Mj Holdings's EBITDA?

Mj Holdings (MJNE) had EBITDA of -$3.2M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Mj Holdings have?

As of fiscal year 2022, Mj Holdings (MJNE) had $1.3M in cash and equivalents against $978K in long-term debt.

What is Mj Holdings's operating margin?

Mj Holdings (MJNE) had an operating margin of -945.1% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.

What is Mj Holdings's net profit margin?

Mj Holdings (MJNE) had a net profit margin of -1485.0% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.

What is Mj Holdings's return on equity (ROE)?

Mj Holdings (MJNE) has a return on equity of -1104.7% for fiscal year 2022, measuring how efficiently the company generates profit from shareholder equity.

What is Mj Holdings's free cash flow?

Mj Holdings (MJNE) generated -$3.8M in free cash flow during fiscal year 2022. This represents a 23.7% 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 Mj Holdings's operating cash flow?

Mj Holdings (MJNE) generated -$3.7M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.

What are Mj Holdings's total assets?

Mj Holdings (MJNE) had $5.1M in total assets as of fiscal year 2022, including both current and long-term assets.

What are Mj Holdings's capital expenditures?

Mj Holdings (MJNE) invested $147K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.

How many shares does Mj Holdings have outstanding?

Mj Holdings (MJNE) had 79M shares outstanding as of fiscal year 2022.

What is Mj Holdings's current ratio?

Mj Holdings (MJNE) had a current ratio of 0.39 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is Mj Holdings's debt-to-equity ratio?

Mj Holdings (MJNE) had a debt-to-equity ratio of 2.01 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mj Holdings's return on assets (ROA)?

Mj Holdings (MJNE) had a return on assets of -104.9% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.

What is Mj Holdings's cash runway?

Based on fiscal year 2022 data, Mj Holdings (MJNE) had $1.3M in cash against an annual operating cash burn of $3.7M. This gives an estimated cash runway of approximately 4 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 Mj Holdings's Altman Z-Score?

Mj Holdings (MJNE) has an Altman Z-Score of -8.69, 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 Mj Holdings's Piotroski F-Score?

Mj Holdings (MJNE) has a Piotroski F-Score of 2 out of 8 computable signals; 1 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 Mj Holdings's earnings high quality?

Mj Holdings (MJNE) has an earnings quality ratio of 0.68x, 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 Mj Holdings cover its interest payments?

Mj Holdings (MJNE) has an interest coverage ratio of -43.8x, 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.