Lionshares U.S. Equity Total Return ETF Financials

TOT

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Lionshares U.S. Equity Total Return ETF (TOT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 TOT FY2025 2026-04-22

Cash-generative operations still fund shareholder returns, but weakening liquidity and asset productivity show a leaner earnings engine.

Across the last three fiscal years, operating cash flow stayed roughly double net income while long-term debt held near $8B, so buybacks and dividends were being financed by the business itself rather than by adding leverage. The softer change is working-capital pressure: the current ratio moved from 1.1x to below 1.0x, meaning short-term obligations now slightly exceed short-term assets even though the capital structure remains lightly debt-funded.

FY2025 returned $15.6B through buybacks and dividends against $27.3B of operating cash flow, so capital returns were substantial but still internally funded. That matters because share count reduction adds a quiet per-share support even while the business is producing less revenue and profit in absolute dollars.

The asset base stayed large and fairly flat, but return on assets fell from 7.6% in FY2023 to 4.6% in FY2025, which means the business is generating less profit from roughly the same pool of assets. Because debt-to-equity remained near 0.1x, that drop looks more like softer operating productivity than a balance sheet stretched by borrowing.

Financial Health Signals

Financial health score pending refresh

We are recalculating Lionshares U.S. Equity Total Return ETF's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/8

Lionshares U.S. Equity Total Return ETF passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.05x

For every $1 of reported earnings, Lionshares U.S. Equity Total Return ETF generates $2.05 in operating cash flow ($27.3B OCF vs $13.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$201.2B

YoY-6.2%

5Y CAGR+7.4%

10Y CAGR+3.4%

Lionshares U.S. Equity Total Return ETF generated $201.2B in revenue in fiscal year 2025. This represents a decrease of 6.2% from the prior year.

EBITDA

N/A

Net Income

$13.4B

YoY-16.7%

10Y CAGR+10.8%

Lionshares U.S. Equity Total Return ETF reported $13.4B in net income in fiscal year 2025. This represents a decrease of 16.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$26.2B

YoY+1.4%

5Y CAGR-3.5%

10Y CAGR+1.2%

Lionshares U.S. Equity Total Return ETF held $26.2B in cash against $8.1B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

2.21B

YoY-8.0%

5Y CAGR-3.6%

Lionshares U.S. Equity Total Return ETF had 2.21B shares outstanding in fiscal year 2025. This represents a decrease of 8.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

6.6%

YoY-0.8pp

5Y CAGR+11.8pp

10Y CAGR+3.3pp

Lionshares U.S. Equity Total Return ETF's net profit margin was 6.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.

Return on Equity

11.4%

YoY-2.0pp

5Y CAGR+18.3pp

10Y CAGR+6.3pp

Lionshares U.S. Equity Total Return ETF's ROE was 11.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$7.5B

YoY-5.9%

5Y CAGR+65.2%

10Y CAGR+41.3%

Lionshares U.S. Equity Total Return ETF spent $7.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 5.9% from the prior year.

Capital Expenditures

N/A

TOT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$201.2B-6.2%	$214.6B-9.5%	$237.1B-15.6%	$281.0B+36.5%	$205.9B+46.3%	$140.7B
Cost of Revenue	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
R&D Expenses	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
Operating Income	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
Income Tax	$9.1B-15.6%	$10.8B-19.0%	$13.3B-40.2%	$22.2B+132.0%	$9.6B+2914.8%	$318.0M
Net Income	$13.4B-16.7%	$16.0B-25.5%	$21.5B+2.2%	$21.0B+28.6%	$16.4B+323.1%	-$7.3B
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q1'25	Q4'24	Q2'24	Q1'24	Q4'23	Q2'23
Revenue	N/A	$49.6B-5.0%	$52.3B	N/A	$53.7B-4.5%	$56.3B	N/A	$56.3B
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	N/A	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	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$2.1B-22.9%	$2.7B	N/A	$2.7B-7.4%	$2.9B	N/A	$2.5B
Net Income	N/A	$2.7B-30.0%	$3.9B	N/A	$3.8B-33.7%	$5.8B	N/A	$4.2B
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TOT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$291.1B+2.0%	$285.5B+0.6%	$283.7B-6.7%	$303.9B+3.5%	$293.5B+10.3%	$266.1B
Current Assets	$89.5B-7.4%	$96.6B-3.0%	$99.5B-20.8%	$125.7B+13.1%	$111.1B+39.5%	$79.7B
Cash & Equivalents	$26.2B+1.4%	$25.8B-5.2%	$27.3B-17.4%	$33.0B+54.7%	$21.3B-31.7%	$31.3B
Inventory	$16.7B-11.7%	$18.9B-2.3%	$19.3B-15.8%	$22.9B+15.0%	$20.0B+35.5%	$14.7B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$12.5B+11.0%	$11.3B+13.2%	$10.0B+15.0%	$8.7B-2.0%	$8.8B+0.2%	$8.8B
Total Liabilities	$173.5B+5.0%	$165.2B+0.6%	$164.2B-13.3%	$189.3B+6.1%	$178.5B+11.5%	$160.0B
Current Liabilities	$92.6B+5.2%	$88.0B-0.9%	$88.8B-19.1%	$109.8B+15.4%	$95.1B+47.0%	$64.7B
Long-Term Debt	$8.1B+2.9%	$7.8B+0.9%	$7.8B-6.3%	$8.3B+8.3%	$7.6B-1.2%	$7.7B
Total Equity	$117.5B-2.3%	$120.3B+0.7%	$119.5B+4.3%	$114.6B-0.4%	$115.0B+8.4%	$106.1B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q1'25	Q4'24	Q2'24	Q1'24	Q4'23	Q2'23
Total Assets	$291.1B-0.6%	$292.8B+0.6%	$291.1B+2.0%	$285.5B+2.1%	$279.5B-1.3%	$283.1B-0.2%	$283.7B+0.9%	$281.0B
Current Assets	$89.5B-1.5%	$90.8B-6.5%	$97.1B+0.6%	$96.6B+5.2%	$91.8B-5.9%	$97.5B-2.0%	$99.5B-5.0%	$104.8B
Cash & Equivalents	$26.2B+28.3%	$20.4B-10.6%	$22.8B-11.6%	$25.8B+11.3%	$23.2B-9.5%	$25.6B-6.0%	$27.3B+6.6%	$25.6B
Inventory	$16.7B-3.5%	$17.3B-9.3%	$19.0B+0.9%	$18.9B-6.5%	$20.2B-0.2%	$20.2B+4.7%	$19.3B+2.8%	$18.8B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$12.5B-65.9%	$36.7B+6.2%	$34.5B+206.6%	$11.3B-66.4%	$33.5B+0.9%	$33.2B+233.6%	$10.0B-68.6%	$31.7B
Total Liabilities	$173.5B-0.2%	$173.8B+1.9%	$170.6B+3.3%	$165.2B+3.6%	$159.5B-1.6%	$162.0B-1.3%	$164.2B-0.2%	$164.6B
Current Liabilities	$92.6B+1.5%	$91.2B+0.8%	$90.5B+2.8%	$88.0B+6.8%	$82.4B-7.6%	$89.2B+0.4%	$88.8B-1.1%	$89.7B
Long-Term Debt	$8.1B	N/A	N/A	$7.8B	N/A	N/A	$7.8B	N/A
Total Equity	$117.5B-1.2%	$119.0B-1.2%	$120.4B+0.1%	$120.3B+0.2%	$120.0B-0.9%	$121.1B+1.4%	$119.5B+2.6%	$116.5B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TOT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$27.3B-11.4%	$30.9B-24.2%	$40.7B-14.1%	$47.4B+55.8%	$30.4B+105.4%	$14.8B
Capital Expenditures	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
Investing Cash Flow	-$18.1B-4.6%	-$17.3B-5.3%	-$16.5B-8.9%	-$15.1B-10.7%	-$13.7B-4.4%	-$13.1B
Financing Cash Flow	-$9.9B+31.1%	-$14.4B+51.5%	-$29.7B-54.3%	-$19.3B+24.4%	-$25.5B-1923.8%	$1.4B
Dividends Paid	$8.1B+5.2%	$7.7B+2.7%	$7.5B-24.7%	$10.0B+21.4%	$8.2B+23.0%	$6.7B
Share Buybacks	$7.5B-5.9%	$8.0B-12.8%	$9.2B+18.9%	$7.7B+323.0%	$1.8B+198.4%	$611.0M

Metric	Q4'25	Q2'25	Q1'25	Q4'24	Q2'24	Q1'24	Q4'23	Q2'23
Operating Cash Flow	N/A	$6.0B+132.5%	$2.6B	N/A	$9.0B+315.3%	$2.2B	N/A	$9.9B
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	N/A	-$6.7B-39.2%	-$4.8B	N/A	-$4.6B-31.5%	-$3.5B	N/A	-$4.5B
Financing Cash Flow	N/A	-$2.2B-90.4%	-$1.1B	N/A	-$6.8B-2718.6%	-$242.0M	N/A	-$7.9B
Dividends Paid	N/A	$1.9B+2.3%	$1.9B	N/A	$1.9B-2.6%	$1.9B	N/A	$1.8B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TOT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	6.6%-0.8pp	7.5%-1.6pp	9.1%+1.6pp	7.5%-0.5pp	8.0%+13.2pp	-5.2%
Return on Equity	11.4%-2.0pp	13.3%-4.7pp	18.0%-0.4pp	18.4%+4.1pp	14.2%+21.2pp	-6.9%
Return on Assets	4.6%-1.0pp	5.6%-2.0pp	7.6%+0.7pp	6.9%+1.3pp	5.6%+8.3pp	-2.8%
Current Ratio	0.97-0.1	1.10-0.0	1.12-0.0	1.15-0.0	1.17-0.1	1.23
Debt-to-Equity	0.070.0	0.070.0	0.060.0	0.070.0	0.070.0	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q1'25	Q4'24	Q2'24	Q1'24	Q4'23	Q2'23
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	N/A	5.5%-2.0pp	7.5%	N/A	7.2%-3.1pp	10.3%	N/A	7.4%
Return on Equity	N/A	2.3%-0.9pp	3.3%	N/A	3.2%-1.6pp	4.8%	N/A	3.6%
Return on Assets	N/A	0.9%-0.4pp	1.4%	N/A	1.4%-0.7pp	2.1%	N/A	1.5%
Current Ratio	0.97-0.0	1.00-0.1	1.07-0.0	1.10-0.0	1.11+0.0	1.09-0.0	1.12-0.0	1.17
Debt-to-Equity	0.07-1.4	1.46+0.0	1.42+1.4	0.07-1.3	1.330.0	1.34+1.3	0.06-1.3	1.41
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.97), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is Lionshares U.S. Equity Total Return ETF's annual revenue?

Lionshares U.S. Equity Total Return ETF (TOT) reported $201.2B in total revenue for fiscal year 2025. This represents a -6.2% 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 Lionshares U.S. Equity Total Return ETF's revenue growing?

Lionshares U.S. Equity Total Return ETF (TOT) revenue declined by 6.2% year-over-year, from $214.6B to $201.2B in fiscal year 2025.

Is Lionshares U.S. Equity Total Return ETF profitable?

Yes, Lionshares U.S. Equity Total Return ETF (TOT) reported a net income of $13.4B in fiscal year 2025, with a net profit margin of 6.6%.

How much debt does Lionshares U.S. Equity Total Return ETF have?

As of fiscal year 2025, Lionshares U.S. Equity Total Return ETF (TOT) had $26.2B in cash and equivalents against $8.1B in long-term debt.

What is Lionshares U.S. Equity Total Return ETF's net profit margin?

Lionshares U.S. Equity Total Return ETF (TOT) had a net profit margin of 6.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Lionshares U.S. Equity Total Return ETF's return on equity (ROE)?

Lionshares U.S. Equity Total Return ETF (TOT) has a return on equity of 11.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lionshares U.S. Equity Total Return ETF's operating cash flow?

Lionshares U.S. Equity Total Return ETF (TOT) generated $27.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lionshares U.S. Equity Total Return ETF's total assets?

Lionshares U.S. Equity Total Return ETF (TOT) had $291.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Lionshares U.S. Equity Total Return ETF buy back shares?

Yes, Lionshares U.S. Equity Total Return ETF (TOT) spent $7.5B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Lionshares U.S. Equity Total Return ETF have outstanding?

Lionshares U.S. Equity Total Return ETF (TOT) had 2.21B shares outstanding as of fiscal year 2025.

What is Lionshares U.S. Equity Total Return ETF's current ratio?

Lionshares U.S. Equity Total Return ETF (TOT) had a current ratio of 0.97 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Lionshares U.S. Equity Total Return ETF's debt-to-equity ratio?

Lionshares U.S. Equity Total Return ETF (TOT) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lionshares U.S. Equity Total Return ETF's return on assets (ROA)?

Lionshares U.S. Equity Total Return ETF (TOT) had a return on assets of 4.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lionshares U.S. Equity Total Return ETF's Piotroski F-Score?

Lionshares U.S. Equity Total Return ETF (TOT) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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 Lionshares U.S. Equity Total Return ETF's earnings high quality?

Lionshares U.S. Equity Total Return ETF (TOT) has an earnings quality ratio of 2.05x, considered cash-backed (high 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.