Lionshares U.S. Equity Total Return ETF (TOT) Financials

TOT

FY2025 annual

Revenue $201.2B -6.2% YoY

Net Income $13.4B -16.7% YoY

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $27.3B -11.4% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 27, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TOT SEC filings page.

Lionshares U.S. Equity Total Return ETF (TOT) reported $201.2B in revenue for fiscal year 2025, down 6.2% from the prior fiscal year. This page shows its 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 2026-08-30

The reported portfolio shows cash generation weakening faster than assets while capital distributions remain central to its financial mechanics.

By FY2025, net margin and return on assets had fallen to 6.6% and 4.6%, respectively, from higher FY2023 levels. At the same time, operating cash flow was about 2.0x net income in FY2025, so weaker accounting returns have not translated one-for-one into cash; the gap likely reflects noncash charges or working-capital effects.

Assets reached $291.1B in FY2025 while revenue was $201.2B, so the asset base remained large despite lower reported activity. With return on assets at 4.6%, the issue is asset efficiency rather than simply balance-sheet size.

Reported dividends plus buybacks totaled $15.7B in FY2025, exceeding $13.4B of net income; distributions were not limited to that year's accounting profit. Operating cash flow fell to $27.3B from $40.7B in FY2023, so the funding context weakened even while cash conversion relative to earnings remained elevated.

Financial Health Signals

Financial health score not available

Lionshares U.S. Equity Total Return 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.

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

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$26.2B

YoY+1.4%

QoQ+28.3%

5Y CAGR+0.6%

Lionshares U.S. Equity Total Return ETF held $26.2B in cash against $8.1B in long-term debt as of Q4 2025, with $92.6B of liabilities due within a year.

Shares Outstanding

2.21B

YoY-8.0%

Lionshares U.S. Equity Total Return ETF had 2.21B shares outstanding in Q4 2025. This represents a decrease of 8.0% from the same quarter a year earlier.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

TOT 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.

TOT quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Revenue	$201.2B-6.2%	$214.6B-9.5%	$237.1B-15.6%	$281.0B+36.5%	$205.9B+46.3%	$140.7B-29.8%	$200.3B-4.3%	$209.4B+40.4%	$149.1B+16.6%	$127.9B-10.8%	$143.4B
Income Tax	$9.1B-15.6%	$10.8B-19.0%	$13.3B-40.2%	$22.2B+132.0%	$9.6B+2914.8%	$318.0M-94.6%	$5.9B-9.9%	$6.5B+115.1%	$3.0B+212.3%	$970.0M-41.3%	$1.7B
Net Income	$13.4B-16.7%	$16.0B-25.5%	$21.5B+2.2%	$21.0B+28.6%	$16.4B+323.1%	-$7.3B-164.1%	$11.4B-1.0%	$11.6B+39.2%	$8.3B+33.7%	$6.2B+29.7%	$4.8B

Metric	Q4'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q2'2410-Q	Q1'24	Q4'2310-K	Q2'23
Revenue	N/A	$49.6B-7.7%	$52.3B-7.2%	N/A	$53.7B-4.5%	$56.3B-10.1%	N/A	$56.3B-24.7%
Income Tax	N/A	$2.1B-22.7%	$2.7B-7.1%	N/A	$2.7B+9.6%	$2.9B-27.7%	N/A	$2.5B-52.9%
Net Income	N/A	$2.7B-28.6%	$3.9B-32.4%	N/A	$3.8B-7.3%	$5.8B+3.1%	N/A	$4.2B-28.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

TOT Balance Sheet

TOT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Total Assets	$291.1B+2.0%	$285.5B+0.6%	$283.7B-6.7%	$303.9B+3.5%	$293.5B+10.3%	$266.1B-2.6%	$273.3B+6.4%	$256.8B+5.8%	$242.6B+5.0%	$231.0B+2.9%	$224.5B
Current Assets	$89.5B-7.4%	$96.6B-3.0%	$99.5B-20.8%	$125.7B+13.1%	$111.1B+39.5%	$79.7B-6.6%	$85.3B+6.8%	$79.8B-6.1%	$84.9B+17.1%	$72.5B+3.2%	$70.2B
Cash & Equivalents	$26.2B+1.4%	$25.8B-5.2%	$27.3B-17.4%	$33.0B+54.7%	$21.3B-31.7%	$31.3B+14.3%	$27.4B-2.0%	$27.9B-15.9%	$33.2B+34.9%	$24.6B+5.7%	$23.3B
Inventory	$16.7B-11.7%	$18.9B-2.3%	$19.3B-15.8%	$22.9B+15.0%	$20.0B+35.5%	$14.7B-14.0%	$17.1B+15.1%	$14.9B-9.9%	$16.5B+8.3%	$15.2B+16.2%	$13.1B
Goodwill	$12.5B+11.0%	$11.3B+13.2%	$10.0B+15.0%	$8.7B-2.0%	$8.8B+0.2%	$8.8B+5.5%	$8.3B+2.1%	$8.2B+472.8%	$1.4B+23.3%	$1.2B-92.0%	$14.5B
Total Liabilities	$173.5B+5.0%	$165.2B+0.6%	$164.2B-13.3%	$189.3B+6.1%	$178.5B+11.5%	$160.0B+3.9%	$154.0B+11.1%	$138.6B+7.8%	$128.6B-0.6%	$129.4B+0.3%	$129.1B
Current Liabilities	$92.6B+5.2%	$88.0B-0.9%	$88.8B-19.1%	$109.8B+15.4%	$95.1B+47.0%	$64.7B-7.9%	$70.2B+12.9%	$62.2B+9.8%	$56.7B+3.7%	$54.7B+7.3%	$51.0B
Non-Current Liabilities	$81.0B+4.8%	$77.3B+2.5%	$75.4B-5.2%	$79.5B-4.6%	$83.4B-12.6%	$95.4B+13.9%	$83.7B+9.6%	$76.4B+6.3%	$71.9B-3.8%	$74.7B-4.3%	$78.1B
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+23.5%	$6.3B	N/A	N/A	N/A	N/A
Total Equity	$117.5B-2.3%	$120.3B+0.7%	$119.5B+4.3%	$114.6B-0.4%	$115.0B+8.4%	$106.1B-11.1%	$119.3B+1.0%	$118.1B+3.6%	$114.0B+12.3%	$101.6B+6.5%	$95.4B

Metric	Q4'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q2'2410-Q	Q1'24	Q4'2310-K	Q2'23
Total Assets	$291.1B+2.0%	$292.8B+4.8%	$291.1B+2.8%	$285.5B+0.6%	$279.5B-0.5%	$283.1B-3.4%	$283.7B-6.7%	$281.0B-15.7%
Current Assets	$89.5B-7.4%	$90.8B-1.0%	$97.1B-0.4%	$96.6B-3.0%	$91.8B-12.4%	$97.5B-12.3%	$99.5B-20.8%	$104.8B-32.8%
Cash & Equivalents	$26.2B+1.4%	$20.4B-12.0%	$22.8B-10.9%	$25.8B-5.2%	$23.2B-9.2%	$25.6B-8.4%	$27.3B-17.4%	$25.6B-22.2%
Inventory	$16.7B-11.7%	$17.3B-14.4%	$19.0B-5.9%	$18.9B-2.3%	$20.2B+7.5%	$20.2B-11.2%	$19.3B-15.8%	$18.8B-34.2%
Goodwill	$12.5B+11.0%	$36.7B+9.6%	$34.5B+4.1%	$11.3B+13.2%	$33.5B+5.5%	$33.2B-0.1%	$10.0B+15.0%	$31.7B-14.3%
Total Liabilities	$173.5B+5.0%	$173.8B+9.0%	$170.6B+5.3%	$165.2B+0.6%	$159.5B-3.1%	$162.0B-7.2%	$164.2B-13.3%	$164.6B-22.9%
Current Liabilities	$92.6B+5.2%	$91.2B+10.8%	$90.5B+1.5%	$88.0B-0.9%	$82.4B-8.2%	$89.2B-8.3%	$88.8B-19.1%	$89.7B-30.3%
Non-Current Liabilities	$81.0B+4.8%	$82.6B+7.1%	$80.2B+10.1%	$77.3B+2.5%	$77.1B+3.0%	$72.8B-5.8%	$75.4B-5.2%	$74.8B-11.7%
Long-Term Debt	$8.1B+2.9%	N/A	N/A	$7.8B+0.9%	N/A	N/A	$7.8B-6.3%	N/A
Total Equity	$117.5B-2.3%	$119.0B-0.9%	$120.4B-0.6%	$120.3B+0.7%	$120.0B+3.1%	$121.1B+2.3%	$119.5B+4.3%	$116.5B-3.0%

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments, Retained Earnings.

TOT Cash Flow Statement

TOT quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
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-40.0%	$24.7B-0.1%	$24.7B+10.7%	$22.3B+35.1%	$16.5B-17.2%	$19.9B
Depreciation & Amortization	$13.8B+5.6%	$13.1B-5.1%	$13.8B+1.0%	$13.7B-4.6%	$14.3B-37.3%	$22.9B+45.3%	$15.7B+12.4%	$14.0B-13.1%	$16.1B	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+23.9%	-$17.2B-14.9%	-$14.9B-28.5%	-$11.6B+34.1%	-$17.7B+13.7%	-$20.4B
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+118.1%	-$7.7B+44.6%	-$13.9B-151.4%	-$5.5B-256.9%	$3.5B+233.2%	$1.1B
Dividends Paid	$8.1B+5.2%	$7.7B+2.7%	$7.5B-24.7%	$10.0B+21.4%	$8.2B+23.0%	$6.7B+0.7%	$6.6B+35.2%	$4.9B+85.9%	$2.6B-0.7%	$2.7B-6.5%	$2.8B
Share Buybacks	$7.5B-5.9%	$8.0B-12.8%	$9.2B+18.9%	$7.7B+323.0%	$1.8B+198.4%	$611.0M-78.3%	$2.8B-35.1%	$4.3B	N/A	N/A	$237.0M

Metric	Q4'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q2'2410-Q	Q1'24	Q4'2310-K	Q2'23
Operating Cash Flow	N/A	$6.0B-33.8%	$2.6B+18.2%	N/A	$9.0B-9.0%	$2.2B-57.7%	N/A	$9.9B-39.2%
Depreciation & Amortization	N/A	$3.4B+9.1%	$3.1B+1.6%	N/A	$3.1B-3.6%	$3.0B-4.7%	N/A	$3.2B-3.8%
Investing Cash Flow	N/A	-$6.7B-46.8%	-$4.8B-38.6%	N/A	-$4.6B-1.9%	-$3.5B+45.5%	N/A	-$4.5B+10.2%
Financing Cash Flow	N/A	-$2.2B+68.5%	-$1.1B-366.9%	N/A	-$6.8B+13.4%	-$242.0M+93.9%	N/A	-$7.9B+8.1%
Dividends Paid	N/A	$1.9B+2.2%	$1.9B-2.7%	N/A	$1.9B+0.6%	$1.9B+3.2%	N/A	$1.8B+0.9%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.

TOT 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.

TOT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Net Margin	6.6%-0.8pp	7.5%-1.6pp	9.1%+1.6pp	7.5%-0.5pp	8.0%+13.2pp	-5.2%-10.9pp	5.7%+0.2pp	5.5%-0.1pp	5.6%+0.7pp	4.9%+1.5pp	3.3%
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%-16.5pp	9.6%-0.2pp	9.8%+2.5pp	7.3%+1.2pp	6.1%+1.1pp	5.0%
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%-7.0pp	4.2%-0.3pp	4.5%+1.1pp	3.4%+0.7pp	2.7%+0.6pp	2.1%
Current Ratio	0.97-0.1x	1.100.0x	1.120.0x	1.150.0x	1.17-0.1x	1.230.0x	1.21-0.1x	1.28-0.2x	1.50+0.2x	1.33-0.1x	1.38
Debt-to-Equity	0.070.0x	0.070.0x	0.060.0x	0.070.0x	0.070.0x	0.070.0x	0.05-1.1x	1.170.0x	1.13-0.1x	1.27-0.1x	1.35
Asset Turnover	0.69-0.1x	0.75-0.1x	0.84-0.1x	0.92+0.2x	0.70+0.2x	0.53-0.2x	0.73-0.1x	0.82+0.2x	0.61+0.1x	0.55-0.1x	0.64

Metric	Q4'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q2'2410-Q	Q1'24	Q4'2310-K	Q2'23
Net Margin	N/A	5.5%-1.6pp	7.5%-2.8pp	N/A	7.2%-0.2pp	10.3%+1.3pp	N/A	7.4%-0.4pp
Return on Equity	N/A	2.3%-0.9pp	3.3%-1.5pp	N/A	3.2%-0.4pp	4.8%0.0pp	N/A	3.6%-1.3pp
Return on Assets	N/A	0.9%-0.4pp	1.4%-0.7pp	N/A	1.4%-0.1pp	2.1%+0.1pp	N/A	1.5%-0.3pp
Current Ratio	0.97-0.1x	1.00-0.1x	1.070.0x	1.100.0x	1.11-0.1x	1.090.0x	1.120.0x	1.170.0x
Debt-to-Equity	0.070.0x	1.46+0.1x	1.42+0.1x	0.070.0x	1.33-0.1x	1.34-0.1x	0.060.0x	1.41-0.4x
Asset Turnover	N/A	0.170.0x	0.180.0x	N/A	0.190.0x	0.200.0x	N/A	0.200.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

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

Where Lionshares U.S. Equity Total Return ETF Ranks

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.