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Twenty One Cap Financials

XXI
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Twenty One Cap (XXI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 33 / 100
Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Twenty One Cap's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage
99

Twenty One Cap carries a low D/E ratio of 0.14, meaning only $0.14 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 47.62, Twenty One Cap holds $47.62 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns
0

Twenty One Cap generates a -6.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Earnings Quality Low Quality
0.01x

For every $1 of reported earnings, Twenty One Cap generates $0.01 in operating cash flow (-$2.4M OCF vs -$217.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-45.5x

Twenty One Cap earns $-45.5 in operating income for every $1 of interest expense (-$14.6M vs $320K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
-$217.3M

Twenty One Cap reported -$217.3M in net income in fiscal year 2025.

EPS (Diluted)
$-3.68

Twenty One Cap earned $-3.68 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
-$715.6M

Twenty One Cap generated -$715.6M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt
$117.7M

Twenty One Cap held $117.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
347M

Twenty One Cap had 347M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
-6.3%

Twenty One Cap's ROE was -6.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$713.2M

Twenty One Cap invested $713.2M in capex in fiscal year 2025, funding long-term assets and infrastructure.

XXI Income Statement

Metric Q3'26 Q2'26 Q1'26
Revenue N/A N/A N/A
Cost of Revenue N/A N/A N/A
Gross Profit N/A N/A N/A
R&D Expenses N/A N/A N/A
SG&A Expenses N/A $58K N/A
Operating Income N/A -$58K N/A
Interest Expense N/A N/A N/A
Income Tax N/A N/A N/A
Net Income N/A -$58K-645.2% -$8K
EPS (Diluted) N/A $-57798.00 N/A

XXI Balance Sheet

Metric Q3'26 Q2'26 Q1'26
Total Assets $3.9B $0 $0
Current Assets $118.2M N/A N/A
Cash & Equivalents $117.7M $0 N/A
Inventory N/A N/A N/A
Accounts Receivable N/A N/A N/A
Goodwill N/A N/A N/A
Total Liabilities $486.8M+742506.5% $66K+745.2% $8K
Current Liabilities $2.5M+3685.7% $66K+745.2% $8K
Long-Term Debt N/A N/A N/A
Total Equity $3.4B+5247786.3% -$66K-745.2% -$8K
Retained Earnings -$263.5M-401783.5% -$66K-745.2% -$8K

XXI Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26
Operating Cash Flow N/A N/A N/A
Capital Expenditures N/A N/A N/A
Free Cash Flow N/A N/A N/A
Investing Cash Flow N/A N/A N/A
Financing Cash Flow N/A N/A N/A
Dividends Paid N/A N/A N/A
Share Buybacks N/A N/A N/A

XXI Financial Ratios

Metric Q3'26 Q2'26 Q1'26
Gross Margin N/A N/A N/A
Operating Margin N/A N/A N/A
Net Margin N/A N/A N/A
Return on Equity N/A N/A N/A
Return on Assets N/A N/A N/A
Current Ratio 47.62 N/A N/A
Debt-to-Equity 0.14+1.1 -1.000.0 -1.00
FCF Margin N/A N/A N/A

Frequently Asked Questions

No, Twenty One Cap (XXI) reported a net income of -$217.3M in fiscal year 2025.

Twenty One Cap (XXI) reported diluted earnings per share of $-3.68 for fiscal year 2025. 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.

Twenty One Cap (XXI) has a return on equity of -6.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Twenty One Cap (XXI) generated -$715.6M in free cash flow during fiscal year 2025. 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.

Twenty One Cap (XXI) generated -$2.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Twenty One Cap (XXI) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Twenty One Cap (XXI) invested $713.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Twenty One Cap (XXI) had 347M shares outstanding as of fiscal year 2025.

Twenty One Cap (XXI) had a current ratio of 47.62 as of fiscal year 2025, which is generally considered healthy.

Twenty One Cap (XXI) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Twenty One Cap (XXI) had a return on assets of -5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Twenty One Cap (XXI) had $117.7M in cash against an annual operating cash burn of $2.4M. This gives an estimated cash runway of approximately 596 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.

Twenty One Cap (XXI) has an earnings quality ratio of 0.01x, 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.

Twenty One Cap (XXI) has an interest coverage ratio of -45.5x, meaning it can struggle to cover its interest obligations. 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.

Twenty One Cap (XXI) scores 33 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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