Stabilis Solutions Financials

SLNG

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

This page shows Stabilis Solutions (SLNG) 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 SLNG FY2025 2026-05-07

Stabilis runs a capital-hungry, working-capital-sensitive model where cash conversion matters more than reported earnings in weak years.

FY2025 shows earnings and cash diverging: despite net loss of -$1.4M, operating cash flow reached $8.6M as receivables fell sharply and depreciation stayed large. But capital intensity kept that cash from accumulating, with free cash flow only $462K after $8.1M of capex.

The FY2025 loss looks more like a cost-absorption problem than a collapse in underlying delivery economics: gross margin held at 26.4%, still above FY2021's 20.2%. What changed was that revenue softened while overhead moved back up, so a thinner volume base had less room to cover selling and administrative costs.

The balance sheet remained conservative, with cash of $7.5M exceeding long-term debt of $5.8M and liabilities declining for three straight years. That matters because the company is funding a capex-heavy operation without leaning hard on lenders, which reduces solvency pressure even when profits wobble.

Financial Health Signals

Financial Health Score 43/100

Scored as: Emerging companies peer group

Scored against emerging companies 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 Stabilis Solutions'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.

Cash Runway

Dilution

Revenue Progress

Balance Sheet

Piotroski F-Score Weak

3/9

Stabilis Solutions passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-6.35x

For every $1 of reported earnings, Stabilis Solutions generates $-6.35 in operating cash flow ($8.6M OCF vs -$1.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$68.2M

YoY-6.9%

5Y CAGR+10.4%

10Y CAGR+3.4%

Stabilis Solutions generated $68.2M in revenue in fiscal year 2025. This represents a decrease of 6.9% from the prior year.

EBITDA

N/A

Net Income

-$1.4M

YoY-129.4%

Stabilis Solutions reported -$1.4M in net income in fiscal year 2025. This represents a decrease of 129.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$462K

YoY-89.8%

5Y CAGR-4.0%

10Y CAGR-12.6%

Stabilis Solutions generated $462K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 89.8% from the prior year.

Cash & Debt

$7.5M

YoY-17.0%

5Y CAGR+32.7%

10Y CAGR-0.7%

Stabilis Solutions held $7.5M in cash against $5.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

19M

YoY+0.1%

5Y CAGR+1.9%

10Y CAGR+8.5%

Stabilis Solutions had 19M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Margins & Returns

Gross Margin

26.4%

YoY-2.6pp

10Y CAGR+13.0pp

Stabilis Solutions's gross margin was 26.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.6 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-2.0%

YoY-8.3pp

5Y CAGR+14.3pp

10Y CAGR+3.3pp

Stabilis Solutions's net profit margin was -2.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.3 percentage points from the prior year.

Return on Equity

-2.0%

YoY-8.9pp

5Y CAGR+8.9pp

10Y CAGR+12.1pp

Stabilis Solutions's ROE was -2.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$8.1M

YoY-11.0%

5Y CAGR+60.3%

10Y CAGR+30.1%

Stabilis Solutions invested $8.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 11.0% from the prior year.

SLNG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$68.2M-6.9%	$73.3M+0.2%	$73.1M-26.0%	$98.8M+42.9%	$69.2M+66.5%	$41.5M
Cost of Revenue	$50.2M-3.5%	$52.1M-5.2%	$54.9M-29.3%	$77.7M+40.7%	$55.2M	N/A
Gross Profit	$18.0M-15.1%	$21.2M+16.6%	$18.2M-13.9%	$21.1M+51.4%	$14.0M	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$13.2M+12.1%	$11.8M-8.8%	$12.9M-2.3%	$13.2M-4.4%	$13.8M+28.1%	$10.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$294K-2.0%	$300K-41.1%	$509K-33.9%	$770K-14.5%	$901K+115.6%	$418K
Income Tax	$54K-88.9%	$485K+98.8%	$244K-7.9%	$265K-45.6%	$487K+90.2%	$256K
Net Income	-$1.4M-129.4%	$4.6M+3579.2%	$125K+103.9%	-$3.2M+59.1%	-$7.8M-15.4%	-$6.8M
EPS (Diluted)	N/A	$0.25+2400.0%	$0.01+105.9%	$-0.17+62.2%	$-0.45-12.5%	$-0.40

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$10.4M-21.8%	$13.3M-34.7%	$20.3M+17.4%	$17.3M-0.2%	$17.3M+0.2%	$17.3M-1.9%	$17.6M-5.2%	$18.6M
Cost of Revenue	$10.0M+0.2%	$10.0M-32.1%	$14.7M+15.7%	$12.7M-0.5%	$12.8M+3.4%	$12.4M-2.1%	$12.6M-6.7%	$13.6M
Gross Profit	$367K-88.8%	$3.3M-41.5%	$5.6M+22.2%	$4.6M+0.8%	$4.5M-7.7%	$4.9M-1.2%	$5.0M-1.2%	$5.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.8M+19.4%	$2.3M-15.8%	$2.8M-11.1%	$3.1M-36.5%	$4.9M+154.1%	$1.9M-36.0%	$3.0M-8.9%	$3.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$100K+1766.7%	-$6K-106.0%	$100K0.0%	$100K0.0%	$100K	$0-100.0%	$100K0.0%	$100K
Income Tax	$6K+110.7%	-$56K-5700.0%	$1K-99.5%	$197K+323.9%	-$88K-187.1%	$101K+182.1%	-$123K-128.9%	$425K
Net Income	-$4.1M-1455.7%	-$262K-123.4%	$1.1M+282.5%	-$613K+61.6%	-$1.6M-175.9%	$2.1M+111.2%	$997K+3592.6%	$27K
EPS (Diluted)	N/A	N/A	$0.06+300.0%	$-0.03+66.7%	$-0.09	N/A	$0.05	$0.00

SLNG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$83.1M-2.9%	$85.6M+5.3%	$81.3M-15.8%	$96.6M+10.6%	$87.3M+8.7%	$80.3M
Current Assets	$12.9M-26.1%	$17.5M+16.7%	$15.0M-53.5%	$32.2M+107.4%	$15.5M+43.7%	$10.8M
Cash & Equivalents	$7.5M-17.0%	$9.0M+67.2%	$5.4M-53.1%	$11.5M+1158.4%	$910K-49.8%	$1.8M
Inventory	$342K-0.9%	$345K+104.1%	$169K-17.6%	$205K-20.5%	$258K+14.2%	$226K
Accounts Receivable	$3.1M-49.8%	$6.2M-19.5%	$7.8M-52.5%	$16.3M+73.7%	$9.4M+58.7%	$5.9M
Goodwill	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M-3.1%	$4.5M
Total Liabilities	$16.4M-11.5%	$18.6M-4.7%	$19.5M-46.9%	$36.7M+39.7%	$26.3M+43.7%	$18.3M
Current Liabilities	$10.0M-14.4%	$11.6M-0.8%	$11.7M-57.4%	$27.5M+76.2%	$15.6M+9.8%	$14.2M
Long-Term Debt	$5.8M-16.0%	$6.8M-11.6%	$7.7M-10.4%	$8.7M+13.7%	$7.6M+1015.5%	$682K
Total Equity	$66.7M-0.5%	$67.0M+8.4%	$61.8M+3.2%	$59.9M-2.0%	$61.1M-1.6%	$62.0M
Retained Earnings	-$37.0M-3.8%	-$35.6M+11.4%	-$40.2M+0.3%	-$40.4M-8.6%	-$37.2M-26.5%	-$29.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$115.2M+38.6%	$83.1M-4.6%	$87.1M+4.7%	$83.2M+0.2%	$83.1M-2.9%	$85.6M-4.2%	$89.3M+8.2%	$82.6M
Current Assets	$19.6M+51.5%	$12.9M-33.4%	$19.4M+8.7%	$17.8M+15.6%	$15.4M-11.7%	$17.5M-14.6%	$20.4M+8.2%	$18.9M
Cash & Equivalents	$3.1M-58.7%	$7.5M-27.6%	$10.3M-15.7%	$12.2M+35.7%	$9.0M+0.2%	$9.0M-27.5%	$12.4M+7.9%	$11.5M
Inventory	$295K-13.7%	$342K+40.2%	$244K+35.6%	$180K-21.1%	$228K-33.9%	$345K+58.3%	$218K+40.6%	$155K
Accounts Receivable	$4.0M+27.1%	$3.1M-54.6%	$6.9M+56.9%	$4.4M-6.3%	$4.7M-24.8%	$6.2M+8.2%	$5.8M-2.8%	$5.9M
Goodwill	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M0.0%	$4.3M
Total Liabilities	$52.2M+217.3%	$16.4M-19.6%	$20.4M+15.1%	$17.8M+3.6%	$17.1M-7.7%	$18.6M-22.6%	$24.0M+27.0%	$18.9M
Current Liabilities	$21.0M+110.6%	$10.0M-27.0%	$13.6M+20.3%	$11.3M+9.5%	$10.4M-10.9%	$11.6M-29.7%	$16.5M+43.5%	$11.5M
Long-Term Debt	N/A	$5.8M-4.8%	$6.0M-4.5%	$6.3M-4.3%	$6.6M-3.3%	$6.8M-3.7%	$7.1M-3.6%	$7.4M
Total Equity	$63.0M-5.5%	$66.7M0.0%	$66.7M+1.9%	$65.5M-0.7%	$65.9M-1.6%	$67.0M+2.5%	$65.4M+2.6%	$63.7M
Retained Earnings	-$41.1M-11.0%	-$37.0M-0.7%	-$36.7M+3.0%	-$37.9M-1.6%	-$37.2M-4.5%	-$35.6M+5.6%	-$37.8M+2.6%	-$38.8M

SLNG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$8.6M-37.2%	$13.7M+104.0%	$6.7M-54.3%	$14.7M+242.0%	$4.3M+221.6%	$1.3M
Capital Expenditures	$8.1M-11.0%	$9.1M-10.8%	$10.3M+160.7%	$3.9M-48.4%	$7.6M+892.8%	$768K
Free Cash Flow	$462K-89.8%	$4.5M+228.4%	-$3.5M-132.9%	$10.8M+423.5%	-$3.3M-685.9%	$568K
Investing Cash Flow	-$7.7M+5.1%	-$8.1M+8.9%	-$8.9M-364.8%	-$1.9M+74.5%	-$7.5M-2837.5%	-$256K
Financing Cash Flow	-$2.4M-27.8%	-$1.9M+50.7%	-$3.9M-72.4%	-$2.3M-174.8%	$3.0M+194.1%	-$3.2M
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	$12.4M+1756.1%	$669K-72.1%	$2.4M-47.0%	$4.5M+340.5%	$1.0M-52.8%	$2.2M-15.0%	$2.6M-49.3%	$5.0M
Capital Expenditures	$5.3M+67.7%	$3.1M-19.0%	$3.9M+510.6%	$635K+30.4%	$487K-91.3%	$5.6M+325.7%	$1.3M-4.7%	$1.4M
Free Cash Flow	$7.1M+389.1%	-$2.5M-66.8%	-$1.5M-138.2%	$3.9M+621.2%	$538K+115.8%	-$3.4M-374.7%	$1.2M-66.1%	$3.7M
Investing Cash Flow	-$5.3M-80.7%	-$2.9M+24.8%	-$3.9M-510.6%	-$635K-130.1%	-$276K+94.4%	-$4.9M-308.3%	-$1.2M+7.2%	-$1.3M
Financing Cash Flow	-$889K-47.4%	-$603K-39.3%	-$433K+36.3%	-$680K+6.8%	-$730K-16.8%	-$625K-54.3%	-$405K+23.4%	-$529K
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

SLNG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	26.4%-2.6pp	29.0%+4.1pp	24.9%+3.5pp	21.4%+1.2pp	20.2%	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-2.0%-8.3pp	6.3%+6.1pp	0.2%+3.4pp	-3.2%+8.0pp	-11.3%+5.0pp	-16.3%
Return on Equity	-2.0%-8.9pp	6.9%+6.7pp	0.2%+5.5pp	-5.3%+7.5pp	-12.8%-1.9pp	-10.9%
Return on Assets	-1.6%-7.0pp	5.4%+5.2pp	0.1%+3.5pp	-3.3%+5.6pp	-8.9%-0.5pp	-8.4%
Current Ratio	1.30-0.2	1.50+0.2	1.28+0.1	1.17+0.2	0.99+0.2	0.76
Debt-to-Equity	0.09-0.0	0.10-0.0	0.13-0.0	0.14+0.0	0.12+0.1	0.01
FCF Margin	0.7%-5.5pp	6.2%+11.0pp	-4.8%-15.7pp	10.9%+15.7pp	-4.8%-6.2pp	1.4%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	3.5%-21.2pp	24.7%-2.9pp	27.6%+1.1pp	26.5%+0.3pp	26.2%-2.3pp	28.5%+0.2pp	28.3%+1.2pp	27.1%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-39.3%-37.3pp	-2.0%-7.5pp	5.5%+9.0pp	-3.5%+5.7pp	-9.2%-21.4pp	12.2%+6.5pp	5.7%+5.5pp	0.1%
Return on Equity	-6.5%-6.1pp	-0.4%-2.1pp	1.7%+2.6pp	-0.9%+1.5pp	-2.4%-5.6pp	3.1%+1.6pp	1.5%+1.5pp	0.0%
Return on Assets	-3.5%-3.2pp	-0.3%-1.6pp	1.3%+2.0pp	-0.7%+1.2pp	-1.9%-4.4pp	2.5%+1.3pp	1.1%+1.1pp	0.0%
Current Ratio	0.93-0.4	1.30-0.1	1.42-0.2	1.57+0.1	1.49-0.0	1.50+0.3	1.24-0.4	1.64
Debt-to-Equity	0.83+0.7	0.090.0	0.090.0	0.100.0	0.100.0	0.100.0	0.110.0	0.12
FCF Margin	68.9%+87.5pp	-18.6%-11.3pp	-7.3%-29.7pp	22.4%+19.3pp	3.1%+22.8pp	-19.7%-26.8pp	7.0%-12.6pp	19.7%

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Frequently Asked Questions

What is Stabilis Solutions's annual revenue?

Stabilis Solutions (SLNG) reported $68.2M in total revenue for fiscal year 2025. This represents a -6.9% 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 Stabilis Solutions's revenue growing?

Stabilis Solutions (SLNG) revenue declined by 6.9% year-over-year, from $73.3M to $68.2M in fiscal year 2025.

Is Stabilis Solutions profitable?

No, Stabilis Solutions (SLNG) reported a net income of -$1.4M in fiscal year 2025, with a net profit margin of -2.0%.

How much debt does Stabilis Solutions have?

As of fiscal year 2025, Stabilis Solutions (SLNG) had $7.5M in cash and equivalents against $5.8M in long-term debt.

What is Stabilis Solutions's gross margin?

Stabilis Solutions (SLNG) had a gross margin of 26.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Stabilis Solutions's net profit margin?

Stabilis Solutions (SLNG) had a net profit margin of -2.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Stabilis Solutions's return on equity (ROE)?

Stabilis Solutions (SLNG) has a return on equity of -2.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Stabilis Solutions's free cash flow?

Stabilis Solutions (SLNG) generated $462K in free cash flow during fiscal year 2025. This represents a -89.8% 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 Stabilis Solutions's operating cash flow?

Stabilis Solutions (SLNG) generated $8.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Stabilis Solutions's total assets?

Stabilis Solutions (SLNG) had $83.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Stabilis Solutions's capital expenditures?

Stabilis Solutions (SLNG) invested $8.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Stabilis Solutions have outstanding?

Stabilis Solutions (SLNG) had 19M shares outstanding as of fiscal year 2025.

What is Stabilis Solutions's current ratio?

Stabilis Solutions (SLNG) had a current ratio of 1.30 as of fiscal year 2025, which is considered adequate.

What is Stabilis Solutions's debt-to-equity ratio?

Stabilis Solutions (SLNG) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Stabilis Solutions's return on assets (ROA)?

Stabilis Solutions (SLNG) had a return on assets of -1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Stabilis Solutions's Piotroski F-Score?

Stabilis Solutions (SLNG) 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 Stabilis Solutions's earnings high quality?

Stabilis Solutions (SLNG) has an earnings quality ratio of -6.35x, considered mixed 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 Stabilis Solutions?

Stabilis Solutions (SLNG) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.