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ALPS/Dorsey Wright Sector Momentum ETF Financials

SWIN
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE March

This page shows ALPS/Dorsey Wright Sector Momentum ETF (SWIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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

Profitability Growth Leverage Liquidity Cash Flow Returns 18 / 100
Financial Profile 18/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth
0

ALPS/Dorsey Wright Sector Momentum ETF's revenue declined 76.6% year-over-year, from $128K to $30K. This contraction results in a growth score of 0/100.

Leverage
69

ALPS/Dorsey Wright Sector Momentum ETF carries a low D/E ratio of 1.60, meaning only $1.60 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
21

ALPS/Dorsey Wright Sector Momentum ETF's current ratio of 1.29 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.

Cash Flow
0

While ALPS/Dorsey Wright Sector Momentum ETF generated -$1.1M in operating cash flow, capex of $88K consumed most of it, leaving -$1.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

ALPS/Dorsey Wright Sector Momentum ETF generates a -180.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -51.0% the prior year.

Piotroski F-Score Weak
1/9

ALPS/Dorsey Wright Sector Momentum ETF passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality
0.12x

For every $1 of reported earnings, ALPS/Dorsey Wright Sector Momentum ETF generates $0.12 in operating cash flow (-$1.1M OCF vs -$8.5M 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

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Earnings & Revenue

Revenue
$30K
YoY-76.6%

ALPS/Dorsey Wright Sector Momentum ETF generated $30K in revenue in fiscal year 2025. This represents a decrease of 76.6% from the prior year.

EBITDA
N/A
Net Income
-$8.5M
YoY-87.4%

ALPS/Dorsey Wright Sector Momentum ETF reported -$8.5M in net income in fiscal year 2025. This represents a decrease of 87.4% from the prior year.

EPS (Diluted)
$-0.53
YoY-60.6%

ALPS/Dorsey Wright Sector Momentum ETF earned $-0.53 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 60.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$1.1M
YoY+80.1%

ALPS/Dorsey Wright Sector Momentum ETF generated -$1.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 80.1% from the prior year.

Cash & Debt
$3.8M
YoY+79.3%

ALPS/Dorsey Wright Sector Momentum ETF held $3.8M 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
N/A
Net Margin
-28460.0%
YoY-24900.6pp

ALPS/Dorsey Wright Sector Momentum ETF's net profit margin was -28460.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 24900.6 percentage points from the prior year.

Return on Equity
-180.5%
YoY-129.4pp

ALPS/Dorsey Wright Sector Momentum ETF's ROE was -180.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 129.4 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$88K
YoY-37.6%

ALPS/Dorsey Wright Sector Momentum ETF invested $88K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 37.6% from the prior year.

SWIN Income Statement

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Revenue N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue 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
R&D Expenses N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A
Operating Income 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
Income Tax N/A N/A N/A N/A N/A N/A N/A
Net Income N/A N/A N/A N/A N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A

SWIN Balance Sheet

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Total Assets $383.2M+3013.1% $12.3M-6.1% $13.1M-14.9% $15.4M-8.9% $16.9M+65.2% $10.2M+8.1% $9.5M
Current Assets $28.4M+193.6% $9.7M-7.7% $10.5M-18.3% $12.8M N/A $9.7M N/A
Cash & Equivalents $8.8M+128.8% $3.8M+56.1% $2.5M+14.9% $2.1M-66.4% $6.4M+231.3% $1.9M+97.0% $977K
Inventory N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A $333K+51.4% $220K N/A $309K N/A
Goodwill $343.1M N/A N/A N/A N/A N/A N/A
Total Liabilities $14.2M+87.0% $7.6M+6.7% $7.1M+9.6% $6.5M+8.2% $6.0M-13.0% $6.9M-7.7% $7.5M
Current Liabilities $13.0M+74.1% $7.5M+8.5% $6.9M+14.3% $6.0M N/A $6.8M N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A
Total Equity $369.0M+7699.2% $4.7M-21.3% $6.0M-32.6% $8.9M-18.2% $10.9M+226.6% $3.3M+67.0% $2.0M
Retained Earnings -$19.2M-31.9% -$14.5M-18.7% -$12.2M-104.5% -$6.0M N/A -$1.4M N/A

SWIN Cash Flow Statement

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Operating Cash Flow N/A N/A N/A N/A N/A N/A N/A
Capital Expenditures 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
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A
Dividends Paid 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

SWIN Financial Ratios

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Gross Margin 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
Net Margin N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A N/A
Return on Assets N/A N/A N/A N/A N/A N/A N/A
Current Ratio 2.17+0.9 1.29-0.2 1.51-0.6 2.12 N/A 1.43 N/A
Debt-to-Equity 0.04-1.6 1.60+0.4 1.18+0.5 0.73+0.2 0.55-1.5 2.06-1.7 3.73
FCF Margin N/A N/A N/A N/A N/A N/A N/A

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Frequently Asked Questions

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) reported $30K in total revenue for fiscal year 2025. This represents a -76.6% 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.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) revenue declined by 76.6% year-over-year, from $128K to $30K in fiscal year 2025.

No, ALPS/Dorsey Wright Sector Momentum ETF (SWIN) reported a net income of -$8.5M in fiscal year 2025, with a net profit margin of -28460.0%.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) reported diluted earnings per share of $-0.53 for fiscal year 2025. This represents a -60.6% 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.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had a net profit margin of -28460.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) has a return on equity of -180.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) generated -$1.1M in free cash flow during fiscal year 2025. This represents a 80.1% 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.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) generated -$1.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had $12.3M in total assets as of fiscal year 2025, including both current and long-term assets.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) invested $88K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had a current ratio of 1.29 as of fiscal year 2025, which is considered adequate.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had a debt-to-equity ratio of 1.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had a return on assets of -69.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had $3.8M in cash against an annual operating cash burn of $1.1M. This gives an estimated cash runway of approximately 44 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.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) has a Piotroski F-Score of 1 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) has an earnings quality ratio of 0.12x, 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.

ALPS/Dorsey Wright Sector Momentum ETF (SWIN) scores 18 out of 100 on our Financial Profile, indicating weak 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.

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