Safe & Green Holdings Corp. (SGBX) Financials
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 14, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SGBX SEC filings page.
Safe & Green Holdings Corp. (SGBX) reported $5.0M in revenue for fiscal year 2024, down 69.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 has shrunk to a thin-margin operation while losses and obligations now overwhelm its asset base.
The revenue base contracted69.9% between FY2023 and FY2024, while gross margin improved from-15.5% to-4.9% ; direct costs became less unfavorable, but the smaller operation could not support its broader cost structure. FY2024 operating cash flow was-$9.3M against a net loss of$17.0M , showing that the reported losses still translated into substantial cash consumption.
The current ratio fell from 0.3x in FY2023 to 0.1x in FY2024, indicating that short-term obligations increasingly outweighed reported current assets. Liabilities of
Operating cash flow was
Financial Health Signals
Safe & Green Holdings Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Safe & Green Holdings Corp. scores -29.38, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($9.3M) relative to total liabilities ($18.5M). 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.
Safe & Green Holdings Corp. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Safe & Green Holdings Corp. reported a net loss of $17.0M while operations used $9.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Safe & Green Holdings Corp. reported an operating loss of $9.7M against $3.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Safe & Green Holdings Corp. generated $1.1M in revenue in Q3 2025. This represents a decrease of 40.0% from the same quarter a year earlier. Against the prior quarter it is up 45.7%.
Safe & Green Holdings Corp.'s EBITDA was -$2.4M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 11.8% from the same quarter a year earlier.
Safe & Green Holdings Corp. reported -$5.3M in net income in Q3 2025. This represents a decrease of 43.0% from the same quarter a year earlier. Against the prior quarter it is down 16.2%.
Safe & Green Holdings Corp. earned -$12.68 per diluted share (EPS) in Q3 2025.
Cash & Balance Sheet
Safe & Green Holdings Corp. held $3.0M in cash against $5.1M in long-term debt as of Q3 2025.
Not reported for Q3 2025.
Not reported for Q3 2025.
Margins & Returns
Safe & Green Holdings Corp.'s gross margin was -29.3% in Q3 2025, indicating the percentage of revenue retained after direct costs. This is down 22.2 percentage points from the same quarter a year earlier.
Safe & Green Holdings Corp.'s ROE was -21.3% in Q3 2025, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 2.0 percentage points.
Not shown for Q3 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q3 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Safe & Green Holdings Corp. invested $6K in capex in Q3 2025, funding long-term assets and infrastructure. This represents an increase of 624.9% from the same quarter a year earlier. Against the prior quarter it is down 98.1%.
Not reported for Q3 2025.
Not reported for Q3 2025.
SGBX 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 | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M-40.0% | $721K-40.4% | $566K-41.5% | $1.0M-46.6% | $1.8M-55.8% | $1.2M-76.2% | $968K-82.4% | $2.0M-52.3% |
| Cost of Revenue | $1.4M-27.6% | $1.7M+56.8% | $890K+38.0% | $1.6M-59.3% | $1.9M-58.3% | $1.1M-78.4% | $645K-88.4% | $3.9M-0.1% |
| Gross Profit | -$308K-145.4% | -$994K-949.9% | -$324K-200.2% | -$559K+71.8% | -$126K+76.6% | $117K+247.9% | $323K+565.1% | -$2.0M-1333.1% |
| SG&A Expenses | $1.4M+408.0% | $1.8M+137.5% | $946K+97.8% | $1.6M-35.8% | $275K-72.8% | $760K-44.0% | $478K-73.3% | $2.4M+24.1% |
| Operating Income | -$2.5M-11.9% | -$3.7M-95.0% | -$1.8M-19.7% | -$4.0M+61.4% | -$2.2M+6.3% | -$1.9M+66.3% | -$1.5M+53.1% | -$10.5M-174.6% |
| EBITDA | -$2.4M-11.8% | N/A | -$1.7M-16.9% | -$3.7M+63.8% | -$2.1M+7.1% | -$1.8M+66.5% | -$1.5M+52.3% | -$10.3M-184.5% |
| Interest Expense | $553K-36.0% | $936K+13.7% | $603K-53.0% | $157K-85.2% | $864K+17.0% | $824K+57.2% | $1.3M+346.4% | $1.1M+555.5% |
| Net Income | -$5.3M-43.0% | -$4.6M+2.2% | -$2.7M+1.8% | -$5.8M+57.4% | -$3.7M-3.0% | -$4.7M+15.8% | -$2.8M+20.5% | -$13.6M-264.3% |
| EPS (Basic) | -$12.68+88.9% | -$0.47+85.8% | -$0.45+90.9% | N/A | -$113.82-51636.4% | -$3.31+55.6% | -$4.93+1.4% | N/A |
| EPS (Diluted) | -$12.68 | -$0.47 | -$0.45 | N/A | -$113.82 | -$3.31 | -$4.93+1.4% | N/A |
| Diluted Shares (Avg) | 419,219 | 10M | 6M | N/A | 32,648 | 1M | 947,670+35.3% | N/A |
Not reported in any period shown, so not listed: R&D Expenses, Income Tax.
SGBX 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 | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $54.1M+452.1% | $53.7M+156.8% | $49.2M+146.4% | $6.1M-64.7% | $9.8M-61.3% | $20.9M-24.9% | $20.0M-29.8% | $17.2M-35.2% |
| Current Assets | $4.4M+120.1% | $4.1M-44.7% | $1.4M-76.4% | $1.2M-78.3% | $2.0M-71.8% | $7.4M-20.7% | $6.1M-32.4% | $5.3M-28.9% |
| Cash & Equivalents | $3.0M+1076.0% | $2.8M+172.2% | $231K-68.8% | $376K+2544.8% | $257K-64.0% | $1.0M-36.5% | $740K-49.1% | $14K-97.6% |
| Inventory | $981K+32.2% | $752K+236.5% | $962K+239.1% | $471K+201.2% | $742K+84.5% | $223K-72.9% | $284K+2083.3% | $157K-66.4% |
| Accounts Receivable | $249K+47.9% | $309K-15.1% | $142K+52.5% | $105K-42.3% | $168K-77.3% | $364K-43.6% | $93K-90.8% | $183K-85.7% |
| Goodwill | $39.2M | $39.1M+2061.3% | $38.2M+2007.4% | N/A | N/A | $1.8M+38.3% | $1.8M+38.3% | N/A |
| Total Liabilities | $29.2M+62.4% | $30.0M+16.7% | $28.1M+5.6% | $18.5M-21.3% | $18.0M-5.1% | $25.7M+38.7% | $26.6M+65.0% | $23.5M+94.3% |
| Current Liabilities | $24.0M+81.6% | $24.9M+11.4% | $22.9M+1.0% | $13.8M-32.8% | $13.2M-15.6% | $22.3M+47.7% | $22.7M+80.9% | $20.5M+146.8% |
| Non-Current Liabilities | $5.1M+8.7% | $5.2M+51.3% | $5.2M+32.9% | $4.7M+57.6% | $4.7M+46.0% | $3.4M-0.7% | $3.9M+8.9% | $3.0M-20.9% |
| Long-Term Debt | $5.1M+8.7% | $5.2M-59.0% | $5.2M+9.1% | $4.7M+92.9% | $4.7M | $12.6M | $4.7M | $2.4M-28.0% |
| Total Equity | $24.9M+405.6% | $23.7M+519.3% | $21.1M+410.9% | -$12.5M-67.0% | -$8.2M-248.3% | -$5.7M-158.0% | -$6.8M-153.2% | -$7.5M-150.3% |
| Retained Earnings | -$111.2M-27.1% | -$105.9M-25.3% | -$101.3M-25.7% | -$98.5M-29.8% | -$87.4M-40.3% | -$84.5M-67.2% | -$80.6M-79.3% | -$75.9M-83.3% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
SGBX 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 | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | -$981K+61.6% | -$3.7M-139.0% | -$3.7M-122.5% | -$924K+33.0% | -$2.6M-3196.1% |
| Depreciation & Amortization | $120K+13.8% | N/A | $92K+117.4% | $337K+44.1% | $105K+13.1% | $42K-54.4% | $42K-69.4% | $234K+8.6% |
| Stock-Based Compensation | N/A | N/A | $106K-40.6% | N/A | N/A | N/A | $179K-72.7% | N/A |
| Capital Expenditures | -$6K+624.9% | $291K+1082.9% | $74K+131.4% | $82K+6.5% | $780-78.4% | -$25K+417.2% | $32K-94.0% | $77K-89.9% |
| Free Cash Flow | N/A | N/A | N/A | -$1.1M+59.6% | -$3.7M-138.5% | -$3.7M-123.3% | -$956K+50.0% | -$2.6M-212.6% |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $65K+312.2% | -$257K+59.7% | -$172K+43.3% |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | $3.9M+112.3% | $1.9M-34.1% | $1.9M+268.7% |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
SGBX 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 | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -29.3%-22.2pp | -137.9% | -57.2%-90.5pp | -53.5% | -7.2%+6.4pp | 9.7%+9.0pp | 33.4%+34.6pp | -101.4% |
| Operating Margin | -238.6% | -511.2% | -323.5% | -387.3% | -127.8% | -156.1% | -158.1% | -535.9% |
| Net Margin | -505.7% | -634.1% | -485.0% | -554.5% | -212.0% | -386.1% | -289.0% | -695.0% |
| Return on Equity | -21.3% | -19.3% | -13.0% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -9.8%+28.1pp | -8.5%+13.8pp | -5.6%+8.4pp | -95.3%-16.3pp | -37.9%-23.7pp | -22.4%-2.4pp | -14.0%-1.6pp | -79.0%-65.0pp |
| Current Ratio | 0.180.0x | 0.16-0.2x | 0.06-0.2x | 0.08-0.2x | 0.15-0.3x | 0.33-0.3x | 0.27-0.5x | 0.26-0.6x |
| Debt-to-Equity | 0.21 | 0.22 | 0.24 | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.02-0.2x | 0.010.0x | 0.010.0x | 0.17+0.1x | 0.180.0x | 0.06-0.1x | 0.05-0.1x | 0.110.0x |
| FCF Margin | N/A | N/A | N/A | -101.9% | -211.3% | -307.0% | -98.7%-64.0pp | -134.4% |
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: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$12.5M), 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.
Note: The current ratio is below 1.0 (0.08), 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 |
|---|---|---|---|---|---|---|
| Safe & Green Holdings Corp. SGBX | FY2024 | $5.0M | -$17.0M | N/A | $9.3M | — |
| Highway Holdings Ltd HIHO | FY2026 | $4.8M | -$1.5M | -31.7% | $3.8M | 34/100 |
| Tungray Technologies Inc TRSG | FY2025 | $15.6M | -$170K | -1.1% | $19.6M | 38/100 |
| Ampco-Pittsburgh Corp. AP | FY2025 | $434.2M | -$66.1M | -15.2% | $174.6M | 28/100 |
| Gulf Island Fabrication Inc GIFI | FY2024 | $159.2M | $14.7M | 9.3% | $192.0M | 62/100 |
| Mayville Engineering Company, Inc. MEC | FY2025 | $546.5M | -$8.1M | -1.5% | $362.4M | 41/100 |
Where Safe & Green Holdings Corp. Ranks
Frequently Asked Questions
What is Safe & Green Holdings Corp.'s annual revenue?
Safe & Green Holdings Corp. (SGBX) reported $5.0M in total revenue for fiscal year 2024. This represents a -69.9% 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 Safe & Green Holdings Corp.'s revenue growing?
Safe & Green Holdings Corp. (SGBX) revenue declined by 69.9% year-over-year, from $16.5M to $5.0M in fiscal year 2024.
Is Safe & Green Holdings Corp. profitable?
No, Safe & Green Holdings Corp. (SGBX) reported a net income of -$17.0M in fiscal year 2024.
What is Safe & Green Holdings Corp.'s EBITDA?
Safe & Green Holdings Corp. (SGBX) had EBITDA of -$9.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Safe & Green Holdings Corp. have?
As of fiscal year 2024, Safe & Green Holdings Corp. (SGBX) had $376K in cash and equivalents against $4.7M in long-term debt.
What is Safe & Green Holdings Corp.'s gross margin?
Safe & Green Holdings Corp. (SGBX) had a gross margin of -4.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Safe & Green Holdings Corp.'s free cash flow?
Safe & Green Holdings Corp. (SGBX) recorded an outflow of $9.4M in free cash flow during fiscal year 2024. This represents a -21.3% 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 Safe & Green Holdings Corp.'s operating cash flow?
Safe & Green Holdings Corp. (SGBX) recorded an outflow of $9.3M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Safe & Green Holdings Corp.'s total assets?
Safe & Green Holdings Corp. (SGBX) had $6.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Safe & Green Holdings Corp.'s capital expenditures?
Safe & Green Holdings Corp. (SGBX) invested $90K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Safe & Green Holdings Corp.'s current ratio?
Safe & Green Holdings Corp. (SGBX) had a current ratio of 0.08 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Safe & Green Holdings Corp.'s return on assets (ROA)?
Safe & Green Holdings Corp. (SGBX) had a return on assets of -279.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Safe & Green Holdings Corp.'s debt-to-equity ratio negative or not reported?
Safe & Green Holdings Corp. (SGBX) has negative shareholder equity of -$12.5M as of fiscal year 2024, so no debt-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.
What is Safe & Green Holdings Corp.'s Altman Z-Score?
Safe & Green Holdings Corp. (SGBX) has an Altman Z-Score of -29.38, 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 Safe & Green Holdings Corp.'s Piotroski F-Score?
Safe & Green Holdings Corp. (SGBX) has a Piotroski F-Score of 2 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 Safe & Green Holdings Corp.'s earnings high quality?
Safe & Green Holdings Corp. (SGBX) reported a net loss of $17.0M while operations used $9.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Safe & Green Holdings Corp. cover its interest payments?
Safe & Green Holdings Corp. (SGBX) reported an operating loss of $9.7M against $3.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.