Star Holdings Financials
This page shows Star Holdings (STHO) financial statements, including the 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).
Financial Health Signals
Star Holdings passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Star Holdings generates $0.18 in operating cash flow (-$11.7M OCF vs -$64.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Star Holdings generated $110.1M in revenue in fiscal year 2025. This represents a decrease of 2.8% from the prior year.
Star Holdings reported -$64.2M in net income in fiscal year 2025. This represents an increase of 25.9% from the prior year.
Star Holdings earned $-4.90 per diluted share (EPS) in fiscal year 2025. This represents an increase of 24.7% from the prior year.
Star Holdings held $50.1M in cash against $268.7M in long-term debt as of fiscal year 2025.
Star Holdings had 12M shares outstanding in fiscal year 2025. This represents a decrease of 9.2% from the prior year.
Star Holdings's gross margin was -569.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Star Holdings's net profit margin was -58.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 18.2 percentage points from the prior year.
Star Holdings's ROE was 25.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Star Holdings spent $8.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
STHO Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25.4M-9.8% | $28.1M-33.2% | $42.1M+187.6% | $14.6M-55.4% | $32.8M-12.0% | $37.2M-14.6% | $43.6M+71.0% | $25.5M |
| 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 | $3.3M-2.3% | $3.3M+2.4% | $3.3M-31.0% | $4.7M+3.0% | $4.6M-36.7% | $7.2M-1.0% | $7.3M-3.2% | $7.6M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | $2K | N/A | N/A | N/A | N/A |
| Net Income | -$19.1M-1163.7% | $1.8M+104.6% | -$39.3M-416.9% | -$7.6M+92.6% | -$102.6M-255.1% | $66.1M+180.8% | -$81.8M+9.1% | -$90.0M |
| EPS (Diluted) | $-1.52-1185.7% | $0.14+104.7% | $-2.95-417.5% | $-0.57+92.6% | $-7.69-255.0% | $4.96+180.8% | $-6.14+9.0% | $-6.75 |
STHO Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $570.2M-4.3% | $595.9M+1.0% | $589.9M-4.6% | $618.2M+1.6% | $608.7M-9.0% | $669.2M+10.7% | $604.3M-14.0% | $702.4M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $50.1M+23.4% | $40.6M-8.2% | $44.2M+45.8% | $30.3M-13.3% | $35.0M-31.0% | $50.7M+11.2% | $45.6M-17.1% | $54.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $304.3M+0.7% | $302.2M+2.8% | $294.0M+4.3% | $281.9M+6.9% | $263.7M+12.0% | $235.4M-7.9% | $255.5M-6.0% | $271.7M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $268.7M+3.6% | $259.3M+5.7% | $245.4M+6.0% | $231.5M+6.5% | $217.3M+12.7% | $192.9M-9.4% | $212.8M-6.4% | $227.4M |
| Total Equity | $251.8M-8.6% | $275.4M-0.3% | $276.1M-12.7% | $316.1M-2.5% | $324.3M-21.2% | $411.6M+19.3% | $344.9M-19.2% | $426.9M |
| Retained Earnings | -$347.4M-5.8% | -$328.3M+0.5% | -$330.1M-13.5% | -$290.8M-2.7% | -$283.2M-44.2% | -$196.4M+25.2% | -$262.6M-45.3% | -$180.8M |
STHO Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.0M-250.7% | $5.3M+301.1% | -$2.6M+58.3% | -$6.3M+7.9% | -$6.9M-19.5% | -$5.7M+31.0% | -$8.3M-102.8% | -$4.1M |
| 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 | $16.8M+220.6% | -$13.9M-459.2% | $3.9M+146.8% | -$8.3M+48.8% | -$16.2M-140.3% | $40.1M+136.1% | $17.0M+40.5% | $12.1M |
| Financing Cash Flow | $2.6M-69.1% | $8.5M-26.9% | $11.6M-3.9% | $12.1M-13.8% | $14.0M+156.4% | -$24.9M-63.2% | -$15.3M+40.5% | -$25.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $4.5M+36.6% | $3.3M | N/A | N/A | N/A | N/A | N/A | N/A |
STHO Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -75.5%-81.9pp | 6.4%+99.9pp | -93.5%-41.5pp | -52.0%+261.1pp | -313.1%-490.8pp | 177.7%+365.5pp | -187.8%+165.3pp | -353.1% |
| Return on Equity | N/A | 0.7% | N/A | N/A | N/A | 16.1% | N/A | N/A |
| Return on Assets | -3.4%-3.7pp | 0.3%+7.0pp | -6.7%-5.4pp | -1.2%+15.6pp | -16.9%-26.7pp | 9.9%+23.4pp | -13.5%-0.7pp | -12.8% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.07+0.1 | 0.94+0.1 | 0.89+0.2 | 0.73+0.1 | 0.67+0.2 | 0.47-0.1 | 0.62+0.1 | 0.53 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Star Holdings's annual revenue?
Star Holdings (STHO) reported $110.1M in total revenue for fiscal year 2025. This represents a -2.8% 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 Star Holdings's revenue growing?
Star Holdings (STHO) revenue declined by 2.8% year-over-year, from $113.3M to $110.1M in fiscal year 2025.
Is Star Holdings profitable?
No, Star Holdings (STHO) reported a net income of -$64.2M in fiscal year 2025, with a net profit margin of -58.3%.
What is Star Holdings's earnings per share (EPS)?
Star Holdings (STHO) reported diluted earnings per share of $-4.90 for fiscal year 2025. This represents a 24.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
How much debt does Star Holdings have?
As of fiscal year 2025, Star Holdings (STHO) had $50.1M in cash and equivalents against $268.7M in long-term debt.
What is Star Holdings's gross margin?
Star Holdings (STHO) had a gross margin of -569.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Star Holdings's net profit margin?
Star Holdings (STHO) had a net profit margin of -58.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Star Holdings's return on equity (ROE)?
Star Holdings (STHO) has a return on equity of 25.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Star Holdings's operating cash flow?
Star Holdings (STHO) generated -$11.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Star Holdings's total assets?
Star Holdings (STHO) had $570.2M in total assets as of fiscal year 2025, including both current and long-term assets.
Does Star Holdings buy back shares?
Yes, Star Holdings (STHO) spent $8.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Star Holdings have outstanding?
Star Holdings (STHO) had 12M shares outstanding as of fiscal year 2025.
What is Star Holdings's debt-to-equity ratio?
Star Holdings (STHO) had a debt-to-equity ratio of 1.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Star Holdings's return on assets (ROA)?
Star Holdings (STHO) had a return on assets of -11.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Star Holdings's cash runway?
Based on fiscal year 2025 data, Star Holdings (STHO) had $50.1M in cash against an annual operating cash burn of $11.7M. This gives an estimated cash runway of approximately 52 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Star Holdings's Piotroski F-Score?
Star Holdings (STHO) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Star Holdings's earnings high quality?
Star Holdings (STHO) has an earnings quality ratio of 0.18x, considered low quality (accrual-driven). 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.