ALPS/Dorsey Wright Sector Momentum ETF Financials
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) reported $30K in revenue for fiscal year 2025, down 76.6% from the prior fiscal year. This page shows its 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).
Solowin's model is dominated by a tiny revenue base, overhead-heavy operations, and a balance sheet increasingly carrying the burden.
FY2023 net income was$1.349M despite operating cash flow of-$443K , so accounting profit did not represent cash generation. By FY2025, the net loss had widened to-$8.538M while operating cash flow was-$1.057M , indicating that reported earnings were being shaped by non-cash or balance-sheet adjustments as well as cash operations.
Revenue fell
The current ratio fell from 2.1x in FY2024 to 1.3x in FY2025, reducing the short-term cushion available against current obligations. Debt-to-equity rose from 0.7x to 1.6x, so the capital structure became more leveraged relative to its equity base.
Financial Health Signals
ALPS/Dorsey Wright Sector Momentum ETF 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.
ALPS/Dorsey Wright Sector Momentum ETF passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
ALPS/Dorsey Wright Sector Momentum ETF reported a net loss of $8.5M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
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.
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.
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.
Not reported for fiscal year 2025.
Cash & Balance Sheet
ALPS/Dorsey Wright Sector Momentum ETF recorded an outflow of $1.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 80.1% from the prior year.
ALPS/Dorsey Wright Sector Momentum ETF held $3.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
SWIN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).
SWIN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| 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 |
| 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 |
| 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 |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
SWIN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|
Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
SWIN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.17+0.9x | 1.29-0.2x | 1.51-0.6x | 2.12 | N/A | 1.43 | N/A |
| Debt-to-Equity | 0.04-1.6x | 1.60+0.4x | 1.18+0.5x | 0.73+0.2x | 0.55-1.5x | 2.06-1.7x | 3.73 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.
Similar Companies
Where ALPS/Dorsey Wright Sector Momentum ETF Ranks
Frequently Asked Questions
What is ALPS/Dorsey Wright Sector Momentum ETF's annual revenue?
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.
How fast is ALPS/Dorsey Wright Sector Momentum ETF's revenue growing?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) revenue declined by 76.6% year-over-year, from $128K to $30K in fiscal year 2025.
Is ALPS/Dorsey Wright Sector Momentum ETF profitable?
No, ALPS/Dorsey Wright Sector Momentum ETF (SWIN) reported a net income of -$8.5M in fiscal year 2025.
What is ALPS/Dorsey Wright Sector Momentum ETF's return on equity (ROE)?
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.
What is ALPS/Dorsey Wright Sector Momentum ETF's free cash flow?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) recorded an outflow of $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.
What is ALPS/Dorsey Wright Sector Momentum ETF's operating cash flow?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) recorded an outflow of $1.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are ALPS/Dorsey Wright Sector Momentum ETF's total assets?
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.
What are ALPS/Dorsey Wright Sector Momentum ETF's capital expenditures?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) invested $88K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is ALPS/Dorsey Wright Sector Momentum ETF's current ratio?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) had a current ratio of 1.29 as of fiscal year 2025, which is considered adequate.
What is ALPS/Dorsey Wright Sector Momentum ETF's debt-to-equity ratio?
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.
What is ALPS/Dorsey Wright Sector Momentum ETF's return on assets (ROA)?
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.
What is ALPS/Dorsey Wright Sector Momentum ETF's Piotroski F-Score?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 ALPS/Dorsey Wright Sector Momentum ETF's earnings high quality?
ALPS/Dorsey Wright Sector Momentum ETF (SWIN) reported a net loss of $8.5M while operations used $1.1M 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.