TOUGHBUILT INDUSTRIES INC (TBLT) Financials
Newest figures come from the 10-K for FY2023, filed Dec 23, 2024. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TBLT SEC filings page.
TOUGHBUILT INDUSTRIES INC (TBLT) reported $76.3M in revenue for fiscal year 2023, down 19.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Sales scale has not translated into operating leverage as overhead and balance-sheet strain absorb gross profit.
The striking divergence is that FY2023 operating cash flow was-$5.1M despite a$46.4M net loss, so cash performance did not come from accounting profitability. Inventory reduction from$40.4M in FY2022 to$21.9M in FY2023 points to working-capital release as the main improvement mechanism.
FY2023 gross margin compression to
FY2023 liabilities of
Financial Health Signals
TOUGHBUILT INDUSTRIES INC 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.
TOUGHBUILT INDUSTRIES 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, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
TOUGHBUILT INDUSTRIES INC reported a net loss of $46.4M while operations used $5.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
TOUGHBUILT INDUSTRIES INC reported an operating loss of $57.2M against $1.7M 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
TOUGHBUILT INDUSTRIES INC generated $20.7M in revenue in Q4 2023. This represents a decrease of 30.7% from the same quarter a year earlier. Against the prior quarter it is up 5.2%.
TOUGHBUILT INDUSTRIES INC's EBITDA was -$17.4M in Q4 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.3% from the same quarter a year earlier. Against the prior quarter it is down 93.5%.
TOUGHBUILT INDUSTRIES INC reported -$16.7M in net income in Q4 2023. This represents an increase of 27.5% from the same quarter a year earlier. Against the prior quarter it is down 15.2%.
TOUGHBUILT INDUSTRIES INC earned -$28.63 per diluted share (EPS) in Q4 2023. Against the prior quarter it is up 5.0%.
Cash & Balance Sheet
TOUGHBUILT INDUSTRIES INC recorded an outflow of $1.9M in free cash flow in Q4 2023, representing a cash shortfall after capex. This represents an increase of 79.4% from the same quarter a year earlier. Against the prior quarter it is up 27.0%.
TOUGHBUILT INDUSTRIES INC held $1.2M in cash as of Q4 2023; long-term debt is not reported for that period.
Not reported for Q4 2023.
Margins & Returns
TOUGHBUILT INDUSTRIES INC's gross margin was 21.5% in Q4 2023, indicating the percentage of revenue retained after direct costs. This is down 9.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.
TOUGHBUILT INDUSTRIES INC's operating margin was -87.0% in Q4 2023, reflecting core business profitability. This is down 36.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 31.8 percentage points.
TOUGHBUILT INDUSTRIES INC's net profit margin was -80.7% in Q4 2023, showing the share of revenue converted to profit. This is down 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.0 percentage points.
Not reported for Q4 2023.
Capital Allocation
TOUGHBUILT INDUSTRIES INC invested $2.6M in research and development in Q4 2023. This represents a decrease of 18.7% from the same quarter a year earlier. Against the prior quarter it is down 9.5%.
TOUGHBUILT INDUSTRIES INC invested $798K in capex in Q4 2023, funding long-term assets and infrastructure. This represents a decrease of 60.4% from the same quarter a year earlier. Against the prior quarter it is down 25.0%.
Not reported for Q4 2023.
TBLT 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 | Q4'2310-K | Q3'2310-K | Q2'2310-K | Q1'2310-K | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.7M-30.7% | $19.7M-34.9% | $17.0M-5.1% | $18.9M+9.5% | $29.9M+21.2% | $30.2M+75.7% | $17.9M+12.8% | $17.2M+40.2% |
| Cost of Revenue | $16.3M-20.8% | $15.4M-31.1% | $12.1M-6.1% | $16.1M+13.0% | $20.6M+15.3% | $22.3M+89.7% | $12.9M+3.5% | $14.2M+61.2% |
| Gross Profit | $4.5M-52.3% | $4.3M-45.3% | $4.8M-2.4% | $2.8M-6.8% | $9.3M+36.3% | $7.9M+45.4% | $4.9M+47.6% | $3.0M-13.3% |
| R&D Expenses | $2.6M-18.7% | $2.9M+4.8% | $2.9M+5.8% | $3.5M+40.3% | $3.2M+28.2% | $2.8M+72.7% | $2.8M+92.6% | $2.5M+78.8% |
| SG&A Expenses | $13.4M-36.4% | $12.6M-14.3% | $15.0M+3.2% | $15.1M-5.3% | $21.1M+11.0% | $14.7M-3.7% | $14.5M+56.8% | $15.9M+100.4% |
| Operating Income | -$18.0M-20.3% | -$10.9M-13.8% | -$13.3M-8.3% | -$15.0M+2.8% | -$15.0M-2.1% | -$9.5M+16.4% | -$12.3M-68.1% | -$15.4M-162.1% |
| EBITDA | -$17.4M-25.3% | -$9.0M-7.6% | -$11.4M-0.8% | -$13.6M+6.3% | -$13.9M+0.8% | -$8.4M+22.8% | -$11.3M-62.1% | -$14.5M-159.3% |
| Interest Expense | $278K | $147K-73.2% | $576K+523.6% | $700K | N/A | $548K | $92K | N/A |
| Net Income | -$16.7M+27.5% | -$14.5M-281.3% | -$7.0M+42.5% | -$8.2M+32.0% | -$23.1M-54.2% | $8.0M+188.0% | -$12.1M-63.5% | -$12.1M-99.9% |
| EPS (Basic) | -$28.63-128.9% | -$30.15-60400.0% | -$28.71-203.8% | -$36.33-158.8% | -$12.51+86.6% | $0.05-99.6% | -$9.45+30.7% | -$14.04-15500.0% |
| EPS (Diluted) | -$28.63 | -$30.15 | -$28.71 | -$36.33 | -$12.51 | $0.03 | -$9.45 | -$14.04 |
| Diluted Shares (Avg) | N/A | 481,508 | 242,934 | 226,466 | N/A | 20M | 1M | 861,997 |
Not reported in any period shown, so not listed: Income Tax.
TBLT 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 | Q4'2310-K | Q3'2310-K | Q2'2310-K | Q1'2310-K | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $51.8M-38.3% | $72.6M-21.9% | $75.2M-9.2% | $77.5M0.0% | $83.9M+6.3% | $92.9M+2.1% | $82.9M+37.0% | $77.5M+18.5% |
| Current Assets | $33.5M-44.3% | $47.5M-30.0% | $49.2M-17.9% | $52.8M-9.7% | $60.1M-7.3% | $67.9M-15.8% | $59.9M+11.7% | $58.4M-4.0% |
| Cash & Equivalents | $1.2M-55.1% | $1.9M+22.3% | $1.8M-13.9% | $2.0M+116.4% | $2.6M-65.7% | $1.6M-94.9% | $2.1M-89.4% | $937K-97.1% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $21.9M-45.6% | $32.9M-17.7% | $37.2M-7.3% | $35.4M-14.3% | $40.4M+5.0% | $40.0M+27.7% | $40.2M+116.1% | $41.3M+254.3% |
| Accounts Receivable | $10.2M-39.1% | $12.2M-47.9% | $9.7M-35.3% | $14.4M-4.1% | $16.8M-7.5% | $23.4M+37.3% | $15.0M+15.2% | $15.1M+5.6% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $61.5M+13.5% | $65.8M+52.6% | $59.9M+44.2% | $55.9M+87.9% | $54.2M+157.4% | $43.1M+137.5% | $41.5M+325.2% | $29.7M+306.3% |
| Current Liabilities | $60.1M+18.5% | $62.7M+59.4% | $56.5M+49.8% | $52.6M+86.1% | $50.7M+140.9% | $39.4M+116.9% | $37.7M+286.4% | $28.3M+286.5% |
| Non-Current Liabilities | $1.4M-60.1% | $3.0M-19.1% | $3.4M-10.9% | $3.2M+122.7% | $3.5M | $3.7M | $3.8M | $1.4M |
| Total Equity | -$9.7M-132.7% | $6.8M-86.3% | $15.3M-62.9% | $21.6M-54.8% | $29.7M-48.7% | $49.8M-31.6% | $41.3M-18.5% | $47.7M-17.8% |
| Retained Earnings | -$191.4M-32.0% | -$174.7M-43.3% | -$160.2M-30.8% | -$153.2M-38.9% | -$145.0M-47.5% | -$121.9M-46.3% | -$122.4M-64.9% | -$110.3M-65.1% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
TBLT 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 | Q4'2310-K | Q3'2310-K | Q2'2310-K | Q1'2310-K | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.1M+84.9% | -$1.5M+91.5% | -$3.0M-6.0% | $447K+104.4% | -$7.0M+65.8% | -$17.4M+24.7% | -$2.8M+67.1% | -$10.1M+28.1% |
| Depreciation & Amortization | $1.7M+58.3% | $1.8M+58.3% | $1.9M+91.7% | $1.4M+51.8% | $1.1M+64.8% | $1.2M+110.8% | $1.0M+188.7% | $934K+215.4% |
| Stock-Based Compensation | N/A | N/A | N/A | $115K+778.9% | N/A | N/A | N/A | $13K-83.9% |
| Capital Expenditures | -$798K-60.4% | $1.1M-80.0% | $992K-6.3% | $1.3M+72.7% | -$2.0M-37.9% | $5.3M+34.1% | $1.1M-66.1% | $728K-24.8% |
| Free Cash Flow | -$1.9M+79.4% | -$2.5M+88.8% | -$4.0M-2.7% | -$811K+92.5% | -$9.0M+62.0% | -$22.7M+16.0% | -$3.9M+66.9% | -$10.8M+27.9% |
| Investing Cash Flow | $715K-64.5% | -$1.1M+80.0% | -$992K+6.3% | -$1.3M-85.4% | $2.0M+162.1% | -$5.3M-34.1% | -$1.1M+66.1% | -$678K+29.9% |
| Financing Cash Flow | -$507K-108.5% | $2.7M-88.0% | $3.8M-26.0% | $268K-93.6% | $6.0M | $22.2M-41.7% | $5.1M+1049.2% | $4.2M-90.7% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TBLT 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 | Q4'2310-K | Q3'2310-K | Q2'2310-K | Q1'2310-K | Q4'2210-K | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.5%-9.8pp | 22.0%-4.2pp | 28.4%+0.8pp | 14.8%-2.6pp | 31.3%+3.5pp | 26.2%-5.5pp | 27.7%+6.5pp | 17.4%-10.8pp |
| Operating Margin | -87.0%-36.8pp | -55.1%-23.6pp | -78.5%-9.7pp | -79.6%+10.1pp | -50.1%+9.4pp | -31.5%+34.7pp | -68.8%-22.6pp | -89.7%-41.7pp |
| Net Margin | -80.7%-3.6pp | -73.7%-100.2pp | -41.1%+26.8pp | -43.6%+26.7pp | -77.1%-16.5pp | 26.5%+79.3pp | -67.8%-21.0pp | -70.3%-21.0pp |
| Return on Equity | N/A | -212.7%-228.8pp | -45.5%-16.1pp | -38.1%-12.7pp | -77.6%-51.8pp | 16.1%+28.6pp | -29.4%-14.7pp | -25.4%-14.9pp |
| Return on Assets | -32.3%-4.8pp | -20.0%-28.6pp | -9.3%+5.4pp | -10.6%+5.0pp | -27.5%-8.5pp | 8.6%+18.6pp | -14.6%-2.4pp | -15.6%-6.4pp |
| Current Ratio | 0.56-0.6x | 0.76-1.0x | 0.87-0.7x | 1.00-1.1x | 1.18-1.9x | 1.72-2.7x | 1.59-3.9x | 2.07-6.2x |
| Debt-to-Equity | N/A | 9.63+8.8x | 3.91+2.9x | 2.59+2.0x | 1.82+1.5x | 0.87+0.6x | 1.01+0.8x | 0.62+0.5x |
| Asset Turnover | 0.400.0x | 0.27-0.1x | 0.230.0x | 0.240.0x | 0.360.0x | 0.33+0.1x | 0.220.0x | 0.220.0x |
| FCF Margin | -8.9%+21.2pp | -12.9%+62.3pp | -23.5%-1.8pp | -4.3%+58.4pp | -30.1%+66.0pp | -75.1% | -21.7%+52.3pp | -62.7% |
Note: Shareholder equity is negative (-$9.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.56), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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 |
|---|---|---|---|---|---|---|
| TOUGHBUILT INDUSTRIES INC TBLT | FY2023 | $76.3M | -$46.4M | -60.9% | N/A | — |
| NIGHTFOOD HLDGS INC NGTF | FY2025 | $482K | -$8.1M | N/A | $14.9M | — |
| STRATEGIC ENVIR&ENGY RES SENR | FY2024 | $4.3M | -$1.8M | -41.8% | $34K | — |
Where TOUGHBUILT INDUSTRIES INC Ranks
Frequently Asked Questions
What is TOUGHBUILT INDUSTRIES INC's annual revenue?
TOUGHBUILT INDUSTRIES INC (TBLT) reported $76.3M in total revenue for fiscal year 2023. This represents a -19.9% 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 TOUGHBUILT INDUSTRIES INC's revenue growing?
TOUGHBUILT INDUSTRIES INC (TBLT) revenue declined by 19.9% year-over-year, from $95.3M to $76.3M in fiscal year 2023.
Is TOUGHBUILT INDUSTRIES INC profitable?
No, TOUGHBUILT INDUSTRIES INC (TBLT) reported a net income of -$46.4M in fiscal year 2023, with a net profit margin of -60.9%.
What is TOUGHBUILT INDUSTRIES INC's EBITDA?
TOUGHBUILT INDUSTRIES INC (TBLT) had EBITDA of -$51.5M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
What is TOUGHBUILT INDUSTRIES INC's gross margin?
TOUGHBUILT INDUSTRIES INC (TBLT) had a gross margin of 21.5% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is TOUGHBUILT INDUSTRIES INC's operating margin?
TOUGHBUILT INDUSTRIES INC (TBLT) had an operating margin of -75.0% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is TOUGHBUILT INDUSTRIES INC's net profit margin?
TOUGHBUILT INDUSTRIES INC (TBLT) had a net profit margin of -60.9% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is TOUGHBUILT INDUSTRIES INC's free cash flow?
TOUGHBUILT INDUSTRIES INC (TBLT) recorded an outflow of $7.6M in free cash flow during fiscal year 2023. This represents a 82.1% 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 TOUGHBUILT INDUSTRIES INC's operating cash flow?
TOUGHBUILT INDUSTRIES INC (TBLT) recorded an outflow of $5.1M in operating cash flow during fiscal year 2023, representing cash used by core business activities.
What are TOUGHBUILT INDUSTRIES INC's total assets?
TOUGHBUILT INDUSTRIES INC (TBLT) had $51.8M in total assets as of fiscal year 2023, including both current and long-term assets.
What are TOUGHBUILT INDUSTRIES INC's capital expenditures?
TOUGHBUILT INDUSTRIES INC (TBLT) invested $2.5M in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
How much does TOUGHBUILT INDUSTRIES INC spend on research and development?
TOUGHBUILT INDUSTRIES INC (TBLT) invested $12.0M in research and development during fiscal year 2023.
What is TOUGHBUILT INDUSTRIES INC's current ratio?
TOUGHBUILT INDUSTRIES INC (TBLT) had a current ratio of 0.56 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is TOUGHBUILT INDUSTRIES INC's return on assets (ROA)?
TOUGHBUILT INDUSTRIES INC (TBLT) had a return on assets of -89.7% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
How does TOUGHBUILT INDUSTRIES INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2023, TOUGHBUILT INDUSTRIES INC (TBLT) held $1.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.1M over that year. Dividing the one by the other, the reported balance equals about 3 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is TOUGHBUILT INDUSTRIES INC's debt-to-equity ratio negative or not reported?
TOUGHBUILT INDUSTRIES INC (TBLT) has negative shareholder equity of -$9.7M as of fiscal year 2023, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is TOUGHBUILT INDUSTRIES INC's Piotroski F-Score?
TOUGHBUILT INDUSTRIES INC (TBLT) 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 TOUGHBUILT INDUSTRIES INC's earnings high quality?
TOUGHBUILT INDUSTRIES INC (TBLT) reported a net loss of $46.4M while operations used $5.1M 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.
Can TOUGHBUILT INDUSTRIES INC cover its interest payments?
TOUGHBUILT INDUSTRIES INC (TBLT) reported an operating loss of $57.2M against $1.7M 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.