Ridgewood Energy Q Fund LLC Financials

RDWQS

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

This page shows Ridgewood Energy Q Fund LLC (RDWQS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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 RDWQS FY2025 2026-05-05

Cash generation is outrunning a shrinking revenue base, allowing RDWQS to self-fund cash outflows while keeping leverage contained.

From FY2023 to FY2025, revenue more than halved from $4.5M to $2.0M. Even so, operating cash flow stayed above net income and cash rose to $2.1M while receivables fell to $108K, indicating liquidity is being supported by working-capital release from a smaller operating footprint rather than growth.

The balance sheet still looks conservative in absolute terms: FY2025 liabilities were only $1.5M against assets of $5.6M, so solvency does not appear to be the main constraint. The higher debt-to-equity ratio instead reflects equity shrinking faster than obligations as assets and retained capital have stepped down over three years.

Margin compression in FY2025 looks tied to lower scale, not a cash shortfall: operating margin fell from 38.9% to 18.0% as revenue kept receding. That pattern suggests overhead is being spread across fewer sales, which can preserve profitability for a while but makes earnings more sensitive to each lost dollar of activity.

Financial Health Signals

Financial Profile 56/100

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 Ridgewood Energy Q Fund LLC'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.

Profitability

Ridgewood Energy Q Fund LLC has an operating margin of 18.0%, meaning the company retains $18 of operating profit per $100 of revenue. This strong profitability earns a score of 83/100, reflecting efficient cost management and pricing power. This is down from 38.9% the prior year.

Growth

Ridgewood Energy Q Fund LLC's revenue declined 33.7% year-over-year, from $3.1M to $2.0M. This contraction results in a growth score of 0/100.

Leverage

Ridgewood Energy Q Fund LLC carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 11.37, Ridgewood Energy Q Fund LLC holds $11.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Ridgewood Energy Q Fund LLC's ROE of 11.8% shows moderate profitability relative to equity, earning a score of 57/100. This is down from 30.1% the prior year.

Piotroski F-Score Weak

3/9

Ridgewood Energy Q Fund LLC 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.

Earnings Quality Cash-Backed

3.32x

For every $1 of reported earnings, Ridgewood Energy Q Fund LLC generates $3.32 in operating cash flow ($1.6M OCF vs $481K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.0M

YoY-33.7%

5Y CAGR-6.6%

Ridgewood Energy Q Fund LLC generated $2.0M in revenue in fiscal year 2025. This represents a decrease of 33.7% from the prior year.

EBITDA

N/A

Net Income

$481K

YoY-63.1%

Ridgewood Energy Q Fund LLC reported $481K in net income in fiscal year 2025. This represents a decrease of 63.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$2.1M

YoY+37.0%

5Y CAGR+32.3%

10Y CAGR-2.4%

Ridgewood Energy Q Fund LLC held $2.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

18.0%

YoY-20.9pp

5Y CAGR+39.9pp

Ridgewood Energy Q Fund LLC's operating margin was 18.0% in fiscal year 2025, reflecting core business profitability. This is down 20.9 percentage points from the prior year.

Net Margin

23.8%

YoY-19.0pp

5Y CAGR+51.1pp

Ridgewood Energy Q Fund LLC's net profit margin was 23.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 19.0 percentage points from the prior year.

Return on Equity

11.8%

YoY-18.3pp

5Y CAGR+20.2pp

10Y CAGR+14.0pp

Ridgewood Energy Q Fund LLC's ROE was 11.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 18.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

RDWQS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.0M-33.7%	$3.1M-32.1%	$4.5M-43.3%	$7.9M+63.0%	$4.9M+71.1%	$2.8M
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$268K+7.6%	$249K+4.2%	$239K+2.1%	$234K+2.2%	$229K-9.8%	$254K
Operating Income	$365K-69.3%	$1.2M-18.3%	$1.5M-64.9%	$4.1M+302.0%	$1.0M+266.0%	-$621K
Interest Expense	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
Net Income	$481K-63.1%	$1.3M-14.3%	$1.5M-63.4%	$4.2M+334.9%	$955K+222.9%	-$777K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$365K-4.2%	$381K-17.0%	$459K-18.0%	$560K-10.4%	$625K-4.3%	$653K-12.5%	$746K-18.7%	$918K
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	$75K+19.0%	$63K-3.1%	$65K-3.0%	$67K-8.2%	$73K+12.3%	$65K+6.6%	$61K-3.2%	$63K
Operating Income	$101K+1018.2%	-$11K-115.9%	$69K-43.4%	$122K-34.1%	$185K-8.9%	$203K-29.5%	$288K-29.9%	$411K
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	$133K+454.2%	$24K-75.8%	$99K-33.1%	$148K-29.5%	$210K-9.5%	$232K-27.3%	$319K-27.5%	$440K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RDWQS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.6M-2.3%	$5.7M-9.4%	$6.3M-23.8%	$8.3M-15.6%	$9.8M-15.3%	$11.5M
Current Assets	$2.3M+26.5%	$1.8M-1.4%	$1.8M-8.0%	$2.0M+17.1%	$1.7M+17.4%	$1.5M
Cash & Equivalents	$2.1M+37.0%	$1.6M+4.1%	$1.5M+6.9%	$1.4M+23.3%	$1.1M+115.4%	$527K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$108K-44.6%	$195K-35.0%	$300K-40.2%	$502K+10.8%	$453K+49.0%	$304K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.5M+8.9%	$1.4M+44.8%	$940K+10.2%	$853K+45.1%	$588K-74.4%	$2.3M
Current Liabilities	$202K+149.4%	$81K-23.6%	$106K-49.8%	$211K+42.6%	$148K-89.5%	$1.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$451K
Total Equity	$4.1M-5.8%	$4.3M-18.9%	$5.3M-27.7%	$7.4M-19.5%	$9.2M-0.6%	$9.2M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$6.0M+7.6%	$5.6M-3.2%	$5.8M+0.4%	$5.7M+3.2%	$5.6M-2.6%	$5.7M+1.4%	$5.6M-5.9%	$6.0M
Current Assets	$2.2M-2.9%	$2.3M-2.4%	$2.4M+6.0%	$2.2M+19.7%	$1.9M+2.1%	$1.8M-2.5%	$1.9M-6.9%	$2.0M
Cash & Equivalents	$2.0M-8.1%	$2.1M-0.7%	$2.1M+5.6%	$2.0M+25.2%	$1.6M+4.4%	$1.6M-3.8%	$1.6M-5.4%	$1.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$229K+112.0%	$108K-15.0%	$127K-22.1%	$163K-7.4%	$176K-9.7%	$195K+19.6%	$163K-39.0%	$267K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.0M+32.5%	$1.5M+1.4%	$1.5M+2.8%	$1.4M+2.3%	$1.4M+2.1%	$1.4M+37.9%	$987K+3.7%	$952K
Current Liabilities	$662K+227.7%	$202K+117.2%	$93K+12.0%	$83K+3.8%	$80K-1.2%	$81K-16.5%	$97K+19.8%	$81K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.0M-1.5%	$4.1M-4.8%	$4.3M-0.4%	$4.3M+3.6%	$4.2M-4.0%	$4.3M-6.4%	$4.6M-7.7%	$5.0M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RDWQS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.6M-38.2%	$2.6M-33.8%	$3.9M-44.5%	$7.0M+89.3%	$3.7M+256.9%	$1.0M
Capital Expenditures	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
Investing Cash Flow	-$290K-40.8%	-$206K+10.4%	-$230K+72.1%	-$823K-14.1%	-$721K-561.5%	-$109K
Financing Cash Flow	-$731K+68.5%	-$2.3M+35.2%	-$3.6M+39.8%	-$5.9M-149.1%	-$2.4M-106.9%	-$1.2M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$80K-74.9%	$319K+1.3%	$315K-31.7%	$461K-8.2%	$502K+3.9%	$483K-28.4%	$675K-1.7%	$687K
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	-$59K+42.2%	-$102K-17.2%	-$87K-70.6%	-$51K-2.0%	-$50K-194.1%	-$17K+73.4%	-$64K0.0%	-$64K
Financing Cash Flow	-$193K+16.8%	-$232K-101.7%	-$115K	$0+100.0%	-$384K+27.1%	-$527K+25.1%	-$704K-31.6%	-$535K
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

RDWQS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	18.0%-20.9pp	38.9%+6.6pp	32.4%-19.9pp	52.3%+31.1pp	21.2%+43.0pp	-21.9%
Net Margin	23.8%-19.0pp	42.7%+8.9pp	33.9%-18.5pp	52.4%+32.8pp	19.6%+47.0pp	-27.3%
Return on Equity	11.8%-18.3pp	30.1%+1.6pp	28.4%-27.7pp	56.1%+45.7pp	10.4%+18.8pp	-8.4%
Return on Assets	8.6%-14.3pp	22.9%-1.3pp	24.2%-26.1pp	50.3%+40.5pp	9.8%+16.5pp	-6.7%
Current Ratio	11.37-11.0	22.42+5.1	17.37+7.9	9.49-2.1	11.55+10.5	1.04
Debt-to-Equity	0.36+0.0	0.31+0.1	0.18+0.1	0.12+0.1	0.06+0.0	0.05
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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	27.7%+30.6pp	-2.9%-17.9pp	15.0%-6.8pp	21.8%-7.8pp	29.6%-1.5pp	31.1%-7.5pp	38.6%-6.2pp	44.8%
Net Margin	36.4%+30.1pp	6.3%-15.3pp	21.6%-4.9pp	26.4%-7.2pp	33.6%-1.9pp	35.5%-7.2pp	42.8%-5.2pp	47.9%
Return on Equity	3.3%+2.7pp	0.6%-1.7pp	2.3%-1.1pp	3.4%-1.6pp	5.0%-0.3pp	5.3%-1.5pp	6.9%-1.9pp	8.8%
Return on Assets	2.2%+1.8pp	0.4%-1.3pp	1.7%-0.9pp	2.6%-1.2pp	3.8%-0.3pp	4.1%-1.6pp	5.7%-1.7pp	7.4%
Current Ratio	3.37-8.0	11.37-13.9	25.30-1.4	26.73+3.6	23.18+0.8	22.42+3.2	19.21-5.5	24.69
Debt-to-Equity	0.49+0.1	0.36+0.0	0.34+0.0	0.330.0	0.33+0.0	0.31+0.1	0.21+0.0	0.19
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Ridgewood Energy Q Fund LLC's annual revenue?

Ridgewood Energy Q Fund LLC (RDWQS) reported $2.0M in total revenue for fiscal year 2025. This represents a -33.7% 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 Ridgewood Energy Q Fund LLC's revenue growing?

Ridgewood Energy Q Fund LLC (RDWQS) revenue declined by 33.7% year-over-year, from $3.1M to $2.0M in fiscal year 2025.

Is Ridgewood Energy Q Fund LLC profitable?

Yes, Ridgewood Energy Q Fund LLC (RDWQS) reported a net income of $481K in fiscal year 2025, with a net profit margin of 23.8%.

What is Ridgewood Energy Q Fund LLC's operating margin?

Ridgewood Energy Q Fund LLC (RDWQS) had an operating margin of 18.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ridgewood Energy Q Fund LLC's net profit margin?

Ridgewood Energy Q Fund LLC (RDWQS) had a net profit margin of 23.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ridgewood Energy Q Fund LLC's return on equity (ROE)?

Ridgewood Energy Q Fund LLC (RDWQS) has a return on equity of 11.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ridgewood Energy Q Fund LLC's operating cash flow?

Ridgewood Energy Q Fund LLC (RDWQS) generated $1.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ridgewood Energy Q Fund LLC's total assets?

Ridgewood Energy Q Fund LLC (RDWQS) had $5.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What is Ridgewood Energy Q Fund LLC's current ratio?

Ridgewood Energy Q Fund LLC (RDWQS) had a current ratio of 11.37 as of fiscal year 2025, which is generally considered healthy.

What is Ridgewood Energy Q Fund LLC's debt-to-equity ratio?

Ridgewood Energy Q Fund LLC (RDWQS) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ridgewood Energy Q Fund LLC's return on assets (ROA)?

Ridgewood Energy Q Fund LLC (RDWQS) had a return on assets of 8.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ridgewood Energy Q Fund LLC's Piotroski F-Score?

Ridgewood Energy Q Fund LLC (RDWQS) 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 Ridgewood Energy Q Fund LLC's earnings high quality?

Ridgewood Energy Q Fund LLC (RDWQS) has an earnings quality ratio of 3.32x, 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.

How financially healthy is Ridgewood Energy Q Fund LLC?

Ridgewood Energy Q Fund LLC (RDWQS) scores 56 out of 100 on our Financial Profile, indicating moderate 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.