New England Financials
This page shows New England (NEN) 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).
Debt-funded asset growth is raising revenue, but financing and depreciation costs are capturing much of the operating benefit.
From FY2024 to FY2025, revenue rose while EBITDA improved, but net income fell from$15.7M to$6.0M . Total assets expanded from$393.5M to$505.3M , and the accompanying debt load lifted depreciation and interest, so recent growth carried a heavier fixed cost burden than prior years.
Operating cash flow climbed from
The balance sheet remains liability-heavy: FY2025 liabilities exceeded assets, leaving negative equity of
Financial Health Signals
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 New England'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.
New England has an operating margin of 23.9%, meaning the company retains $24 of operating profit per $100 of revenue. This strong profitability earns a score of 81/100, reflecting efficient cost management and pricing power. This is down from 31.5% the prior year.
New England's revenue grew 10.8% year-over-year to $89.2M, a solid pace of expansion. This earns a growth score of 49/100.
New England 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), neither operating efficiency signal passes.
For every $1 of reported earnings, New England generates $4.59 in operating cash flow ($27.7M OCF vs $6.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
New England earns $1.1 in operating income for every $1 of interest expense ($21.3M vs $18.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
New England generated $89.2M in revenue in fiscal year 2025. This represents an increase of 10.8% from the prior year.
New England's EBITDA was $44.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.3% from the prior year.
New England reported $6.0M in net income in fiscal year 2025. This represents a decrease of 61.5% from the prior year.
Cash & Balance Sheet
New England held $26.7M in cash against $531.0M in long-term debt as of fiscal year 2025.
Margins & Returns
New England's operating margin was 23.9% in fiscal year 2025, reflecting core business profitability. This is down 7.6 percentage points from the prior year.
New England's net profit margin was 6.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.7 percentage points from the prior year.
Capital Allocation
New England spent $821K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 50.8% from the prior year.
NEN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $24.2M+2.5% | $23.6M-0.4% | $23.7M+11.5% | $21.2M+2.7% | $20.7M+1.5% | $20.4M+0.8% | $20.2M+0.8% | $20.1M |
| 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 | $1.4M | N/A | $871K+30.4% | $668K+7.5% | $621K | N/A | $680K+4.2% | $652K |
| Operating Income | $1.5M-54.8% | $3.3M-30.3% | $4.7M-32.8% | $7.1M+13.3% | $6.2M-5.7% | $6.6M+2.2% | $6.5M-1.0% | $6.5M |
| Interest Expense | $5.7M | N/A | $5.4M+31.8% | $4.1M+9.1% | $3.8M | N/A | $3.8M-1.8% | $3.9M |
| Income Tax | $0 | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$3.9M-180.6% | -$1.4M-166.9% | -$522K-112.6% | $4.1M+9.3% | $3.8M-10.0% | $4.2M+7.8% | $3.9M-4.0% | $4.1M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NEN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $497.3M-1.6% | $505.3M+2.5% | $492.9M-0.4% | $494.8M+28.4% | $385.2M-2.1% | $393.5M+1.6% | $387.4M+1.0% | $383.7M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $25.6M-4.2% | $26.7M+99.4% | $13.4M-19.8% | $16.7M-46.0% | $30.9M+75.2% | $17.6M+16.9% | $15.1M+11.9% | $13.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.7M+15.6% | $1.4M+2.7% | $1.4M+7.3% | $1.3M+18.3% | $1.1M-10.3% | $1.2M+27.9% | $954K-7.2% | $1.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $576.9M-0.5% | $579.5M+2.8% | $563.9M0.0% | $563.7M+23.5% | $456.6M+0.1% | $455.9M+0.7% | $452.8M+0.5% | $450.7M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $530.2M-0.2% | $531.0M+3.3% | $514.2M0.0% | $514.3M+26.1% | $407.8M-0.2% | $408.6M-0.2% | $409.3M-0.2% | $410.0M |
| Total Equity | -$79.6M-7.3% | -$74.2M-4.5% | -$71.0M-3.0% | -$69.0M+3.4% | -$71.4M-14.3% | -$62.4M+4.6% | -$65.5M+2.3% | -$67.0M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NEN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.3M-68.4% | $7.3M+211.0% | $2.3M-81.3% | $12.5M+128.8% | $5.5M-54.2% | $12.0M+41.2% | $8.5M+58.1% | $5.4M |
| 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 | -$1.1M+88.5% | -$9.4M-133.1% | -$4.0M+93.5% | -$62.1M-393.1% | $21.2M+402.6% | -$7.0M-72.8% | -$4.1M+77.4% | -$18.0M |
| Financing Cash Flow | -$2.3M-115.2% | $15.4M+1043.4% | -$1.6M-104.6% | $35.4M+363.7% | -$13.4M-455.5% | -$2.4M+14.3% | -$2.8M-2.5% | -$2.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $134K-68.3% | $423K+294.1% | $107K-62.0% | $282K+3016.8% | $9K-83.6% | $55K-92.2% | $713K+10.0% | $648K |
NEN Financial Ratios
| 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 | 6.2%-7.8pp | 14.0%-6.0pp | 20.0%-13.2pp | 33.3%+3.1pp | 30.1%-2.3pp | 32.4%+0.4pp | 32.0%-0.6pp | 32.6% |
| Net Margin | -16.2%-10.3pp | -5.9%-3.7pp | -2.2%-21.7pp | 19.5%+1.2pp | 18.4%-2.3pp | 20.7%+1.4pp | 19.3%-1.0pp | 20.3% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -0.8%-0.5pp | -0.3%-0.2pp | -0.1%-0.9pp | 0.8%-0.2pp | 1.0%-0.1pp | 1.1%+0.1pp | 1.0%-0.1pp | 1.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | -6.66+0.5 | -7.16+0.1 | -7.24+0.2 | -7.46-1.7 | -5.71+0.8 | -6.54-0.3 | -6.25-0.1 | -6.12 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$74.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is New England's annual revenue?
New England (NEN) reported $89.2M in total revenue for fiscal year 2025. This represents a 10.8% 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 New England's revenue growing?
New England (NEN) revenue grew by 10.8% year-over-year, from $80.5M to $89.2M in fiscal year 2025.
Is New England profitable?
Yes, New England (NEN) reported a net income of $6.0M in fiscal year 2025, with a net profit margin of 6.8%.
What is New England's EBITDA?
New England (NEN) had EBITDA of $44.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does New England have?
As of fiscal year 2025, New England (NEN) had $26.7M in cash and equivalents against $531.0M in long-term debt.
What is New England's operating margin?
New England (NEN) had an operating margin of 23.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is New England's net profit margin?
New England (NEN) had a net profit margin of 6.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is New England's operating cash flow?
New England (NEN) generated $27.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are New England's total assets?
New England (NEN) had $505.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What is New England's debt-to-equity ratio?
New England (NEN) had a debt-to-equity ratio of -7.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is New England's return on assets (ROA)?
New England (NEN) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is New England's debt-to-equity ratio negative or unusual?
New England (NEN) has negative shareholder equity of -$74.2M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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.
What is New England's Piotroski F-Score?
New England (NEN) 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 New England's earnings high quality?
New England (NEN) has an earnings quality ratio of 4.59x, considered cash-backed (high 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.
Can New England cover its interest payments?
New England (NEN) has an interest coverage ratio of 1.1x, 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 New England?
New England (NEN) scores 22 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.