SHF Holdings, Inc. (SHFS) Financials
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 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SHFS SEC filings page.
SHF Holdings, Inc. (SHFS) reported $7.8M in revenue over the twelve months to Jun 30, 2026, down 28.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
SHF Holdings’ reported losses narrowed in FY2025, but shrinking revenue and negative operating cash flow show financing—not operations—supported the balance sheet.
Net income improved more than the operating business did: the net loss fell to$2.2M from$48.3M , while operating loss remained$5.4M . That gap largely reflects FY2024’s unusual$43.9M tax expense, so the headline earnings recovery overstates the improvement in underlying operations.
The business became smaller while its cost structure remained heavy: revenue fell to
Balance-sheet repair came through financing rather than internally generated cash. Equity moved from negative
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of SHF Holdings, Inc.'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.
SHF Holdings, Inc. earned a return on assets of -12.6% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is up from -365.6% the prior year. Earnings ranks banks on that return over three years, and SHF Holdings, Inc. scores 6/100 among other banks.
SHF Holdings, Inc. reported revenue of $7.7M in fiscal year 2025, against $15.2M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and SHF Holdings, Inc. scores 3/100 among other banks.
SHF Holdings, Inc. funded 47.9% of its assets with shareholders' equity at the end of fiscal year 2025, holding $8.2M of equity against $17.2M of assets. Capital ranks banks on that cushion, and SHF Holdings, Inc. scores 92/100 among other banks.
Not available for SHF Holdings, Inc., and counted as zero in the overall score.
Not available for SHF Holdings, Inc., and counted as zero in the overall score.
SHF Holdings, Inc. reported a net loss of $2.2M in fiscal year 2025, against a loss of $48.3M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and SHF Holdings, Inc. scores 19/100 among other banks.
SHF Holdings, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
SHF Holdings, Inc. reported a net loss of $2.2M while operations used $3.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
SHF Holdings, Inc. reported an operating loss of $5.4M against $493K 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
SHF Holdings, Inc. generated $1.9M in revenue in Q2 2026. This represents an increase of 4.8% from the same quarter a year earlier. Against the prior quarter it is down 2.1%.
SHF Holdings, Inc. reported -$1.5M in net income in Q2 2026. This represents a decrease of 62.6% from the same quarter a year earlier. Against the prior quarter it is up 14.9%.
Not reported for Q2 2026.
Cash & Balance Sheet
SHF Holdings, Inc. held $5.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
SHF Holdings, Inc.'s operating margin was -53.0% in Q2 2026, reflecting core business profitability. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 36.2 percentage points.
SHF Holdings, Inc.'s net profit margin was -78.2% in Q2 2026, showing the share of revenue converted to profit. This is down 27.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.9 percentage points.
SHF Holdings, Inc.'s ROE was -24.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 1.7 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
SHFS 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 | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25S-1 | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9M+4.8% | $2.0M+2.2% | $2.1M-43.8% | $1.8M-47.3% | $1.8M-54.3% | $1.9M-52.3% | $3.7M-18.0% | $3.5M-19.6% |
| SG&A Expenses | $887K+93.7% | $1.1M+7.8% | $989K-10.3% | $856K-7.9% | $458K-54.3% | $991K+0.7% | $1.1M-35.6% | $929K-37.3% |
| Operating Income | -$1.0M-5.7% | -$1.8M+11.5% | -$1.2M+84.6% | -$1.2M-788.1% | -$971K-423.5% | -$2.0M-712.9% | -$7.9M-356.8% | $177K-66.7% |
| EBITDA | N/A | N/A | -$1.2M+84.2% | -$1.2M-460.2% | -$970K-296.0% | -$2.0M-482.2% | -$7.7M-436.7% | $338K-58.8% |
| Interest Expense | N/A | $5K-95.9% | $12K-75.6% | $253K+56.2% | $115K-31.7% | $113K-26.8% | $49K+120.2% | $162K-54.7% |
| Income Tax | N/A | N/A | N/A | N/A | -$58K-112.0% | N/A | $43.8M+7050.6% | $7K-89.0% |
| Net Income | -$1.5M-62.6% | -$1.8M-115.1% | -$583K+98.9% | $180K-49.3% | -$931K-198.9% | -$827K-140.4% | -$51.7M-2178.0% | $354K+147.3% |
| EPS (Basic) | -$0.36-9.1% | -$0.43-43.3% | -$0.26+98.5% | $0.06-53.8% | -$0.33-197.1% | -$0.30-140.5% | -$17.49-17590.0% | $0.13+750.0% |
| EPS (Diluted) | -$0.36 | -$0.43 | -$0.26+98.5% | $0.06 | -$0.33 | -$0.30 | -$17.49 | $0.13 |
| Diluted Shares (Avg) | 7M | 4M | N/A | 3M | 3M | 3M | N/A | 3M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
SHFS 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 | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25S-1 | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.2M+137.6% | $15.7M+135.7% | $17.2M+30.2% | $13.7M-79.6% | $6.0M-91.2% | $6.7M-90.2% | $13.2M-80.5% | $66.9M-7.6% |
| Current Assets | $10.9M+120.6% | $12.4M+137.2% | $12.2M+4.3% | $11.1M-8.8% | $5.0M-36.7% | $5.2M-29.7% | $11.7M+50.8% | $12.2M+14.9% |
| Cash & Equivalents | $5.7M+2216.7% | $5.9M+533.2% | $6.8M+191.6% | $862K-85.3% | $247K-96.0% | $931K-83.4% | $2.3M-52.4% | $5.9M-34.5% |
| Short-Term Investments | $0 | $1.4M | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | N/A | $800K | $1.0M0.0% | N/A | N/A | N/A | $1.0M | N/A |
| Long-Term Investments | $0 | $0-100.0% | $1.4M+282.7% | $1.5M+300.6% | $0-100.0% | $375K-1.2% | $379K-0.7% | $374K+22.8% |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $6.1M0.0% |
| Total Liabilities | $8.1M-66.2% | $9.0M-62.0% | $9.0M-64.8% | $6.7M-75.8% | $23.8M-17.6% | $23.6M-23.2% | $25.5M-23.9% | $27.5M-39.3% |
| Current Liabilities | $6.2M-49.7% | $6.9M-42.6% | $6.5M-48.8% | $5.3M-63.7% | $12.3M+63.9% | $11.9M+68.0% | $12.7M+60.6% | $14.7M-26.4% |
| Non-Current Liabilities | $1.8M-83.9% | $2.1M-81.9% | $2.5M-80.7% | $1.3M-89.6% | $11.5M-46.3% | $11.7M-50.6% | $12.8M-49.9% | $12.8M-49.5% |
| Total Equity | $6.1M+134.2% | $6.7M+139.7% | $8.2M+167.0% | $7.0M-82.2% | -$17.9M-146.4% | -$16.9M-145.8% | -$12.3M-135.8% | $39.4M+45.6% |
| Retained Earnings | -$126.2M-3.0% | -$124.7M-2.6% | -$122.9M-1.8% | -$122.3M-77.1% | -$122.5M-76.4% | -$121.6M-72.7% | -$120.8M-68.7% | -$69.1M+3.6% |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
SHFS 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 | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25S-1 | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.8M-160.2% | -$1.1M+5.4% | -$1.1M+61.7% | -$538K-207.1% | -$675K-154.9% | -$1.1M-177.3% | -$2.8M-357.3% | $502K-32.1% |
| Depreciation & Amortization | N/A | N/A | $0-100.0% | $637-99.6% | $1K-99.4% | $1K-99.3% | $161K-44.1% | $161K-44.3% |
| Stock-Based Compensation | $42K+75.5% | $59K-92.1% | N/A | N/A | $24K-95.7% | $750K+33.4% | N/A | $388K-8.2% |
| Investing Cash Flow | $630K+18987.5% | $25K+670.9% | $50K+1084.6% | $386K+18351.7% | $3K+7.5% | $3K+7.7% | $4K+100.1% | $2K+106.9% |
| Financing Cash Flow | $958K+7599.0% | $172K+167.3% | $6.9M+1006.7% | $767K+201.6% | -$13K+98.3% | -$256K+65.5% | -$764K | -$755K |
| Dividends Paid | $900K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
SHFS 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 | Q2'2610-Q | Q1'26S-1 | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25S-1 | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -53.0%-0.4pp | -89.3% | -59.1% | -66.4%-71.5pp | -52.6%-60.1pp | -103.1% | -215.0% | 5.1%-7.2pp |
| Net Margin | -78.2%-27.8pp | -90.1%-47.3pp | -28.2% | 9.8%-0.4pp | -50.4%-73.8pp | -42.8%-93.4pp | -1407.1% | 10.2%+27.4pp |
| Return on Equity | -24.8% | -26.5% | -7.1% | 2.6%+1.7pp | N/A | N/A | N/A | 0.9%+3.7pp |
| Return on Assets | -10.7%+4.9pp | -11.3%+1.1pp | -3.4%+387.5pp | 1.3%+0.8pp | -15.6%-17.0pp | -12.4%-15.5pp | -390.9%-394.5pp | 0.5%+1.6pp |
| Current Ratio | 1.76+1.4x | 1.81+1.4x | 1.88+1.0x | 2.08+1.3x | 0.40-0.6x | 0.44-0.6x | 0.92-0.1x | 0.83+0.3x |
| Debt-to-Equity | 1.32 | 1.33 | 1.09 | 0.95+0.3x | N/A | N/A | N/A | 0.70+0.2x |
| Asset Turnover | 0.14-0.2x | 0.13-0.2x | 0.12-0.2x | 0.13+0.1x | 0.31+0.2x | 0.29+0.2x | 0.28+0.2x | 0.050.0x |
Not reported in any period shown, so not listed: Gross Margin, 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, Net Margin.
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 |
|---|---|---|---|---|---|---|
| SHF Holdings, Inc. SHFS | FY2025 | $7.7M | -$2.2M | -28.2% | $412K | 20/100 |
| GLEN BURNIE BANCORP GLBZ | FY2024 | $12.1M | -$112K | -0.9% | $12.6M | — |
| CARVER BANCORP INC CARV | FY2025 | $22.2M | -$13.7M | -61.8% | $7.5M | — |
| Marathon Bancorp, Inc. MBBC | FY2026 | $9.0M | $1.8M | 19.8% | $45.4M | 36/100 |
| BayFirst Financial Corp. BAFN | FY2025 | $63.1M | -$24.6M | -39.0% | $145.1M | 6/100 |
| Kentucky First Federal Bancorp KFFB | FY2025 | $8.8M | $181K | 2.1% | $46.5M | 18/100 |
Where SHF Holdings, Inc. Ranks
Frequently Asked Questions
What is SHF Holdings, Inc.'s annual revenue?
SHF Holdings, Inc. (SHFS) reported $7.7M in total revenue for fiscal year 2025. This represents a -49.7% 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 SHF Holdings, Inc.'s revenue growing?
SHF Holdings, Inc. (SHFS) revenue declined by 49.7% year-over-year, from $15.2M to $7.7M in fiscal year 2025.
Is SHF Holdings, Inc. profitable?
No, SHF Holdings, Inc. (SHFS) reported a net income of -$2.2M in fiscal year 2025, with a net profit margin of -28.2%.
What is SHF Holdings, Inc.'s EBITDA?
SHF Holdings, Inc. (SHFS) had EBITDA of -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is SHF Holdings, Inc.'s operating margin?
SHF Holdings, Inc. (SHFS) had an operating margin of -70.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is SHF Holdings, Inc.'s net profit margin?
SHF Holdings, Inc. (SHFS) had a net profit margin of -28.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is SHF Holdings, Inc.'s return on equity (ROE)?
SHF Holdings, Inc. (SHFS) has a return on equity of -26.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is SHF Holdings, Inc.'s operating cash flow?
SHF Holdings, Inc. (SHFS) recorded an outflow of $3.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are SHF Holdings, Inc.'s total assets?
SHF Holdings, Inc. (SHFS) had $17.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is SHF Holdings, Inc.'s current ratio?
SHF Holdings, Inc. (SHFS) had a current ratio of 1.88 as of fiscal year 2025, which is generally considered healthy.
What is SHF Holdings, Inc.'s debt-to-equity ratio?
SHF Holdings, Inc. (SHFS) had a debt-to-equity ratio of 1.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is SHF Holdings, Inc.'s return on assets (ROA)?
SHF Holdings, Inc. (SHFS) had a return on assets of -12.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is SHF Holdings, Inc.'s P/E ratio?
SHF Holdings, Inc. (SHFS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $412K as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is SHF Holdings, Inc.'s price-to-sales ratio?
SHF Holdings, Inc. (SHFS) trades at 0.1x sales, its market capitalization divided by revenue of $7.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $412K as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is SHF Holdings, Inc.'s Piotroski F-Score?
SHF Holdings, Inc. (SHFS) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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 SHF Holdings, Inc.'s earnings high quality?
SHF Holdings, Inc. (SHFS) reported a net loss of $2.2M while operations used $3.4M 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 SHF Holdings, Inc. cover its interest payments?
SHF Holdings, Inc. (SHFS) reported an operating loss of $5.4M against $493K 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.
How financially healthy is SHF Holdings, Inc.?
SHF Holdings, Inc. (SHFS) scores 20 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.