NUWENasdaqElectromedical & Electrotherapeutic ApparatusFiscal year ends December 31
Nuwellis, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$0.56+0.01 (+1.68%)
Close on Oct 19, 2026
- Market cap
- $101.13K
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
62.0%+7.4 pts over 5 years
Operating margin
-134.3%+94.5 pts over 5 years
Net margin
-211.9%+1.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -5.4% | -1.1% | +2.1% | +63.9% | |
| Gross profit | -9.7% | +2.5% | +4.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -226.8% | -173.0% | -382.9% | |
| Return on assets | -98.9% | -123.7% | -219.3% | |
| Current ratio | 0.74 | 5.17 | 1.71 | |
| Inventory turnover | – | 1.4× | 1.7× | |
| Capex to revenue | 9.1% | 4.0% | 1.1% | |
| Diluted shares | 0M | 0M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Nuwellis generated $71.33M from operations and spent $640.00K on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$71.33M
Used
$640.00K
Capital expenditure$640.00K100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-211.9%
×Asset turnover1.03×
×Equity multiplier1.75×
=Return on equity, FY2025-382.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -211.9% | 1.03× | 1.75× | -382.9% |
| FY2024 | -127.7% | 0.89× | 2.06× | -234.6% |
| FY2023 | -228.0% | 0.51× | 2.24× | -263.4% |
| FY2022 | -170.0% | 0.31× | 1.44× | -75.8% |
| FY2021 | -246.9% | 0.31× | 1.19× | -92.5% |
| FY2020 | -212.8% | 0.58× | 1.40× | -173.0% |
| FY2019 | -328.7% | 0.77× | 1.81× | -457.1% |
| FY2018 | -340.8% | 0.37× | 1.23× | -153.6% |
| FY2017 | -376.6% | 0.27× | 1.44× | -148.7% |
| FY2016 | -1225.1% | 0.08× | 2.29× | -226.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$17.52M
- Cash generatingOperating cash flow above zero-$10.81M
- Return on assets improvedROA up on the prior year-114.3% → -177.6%
- Earnings backed by cashOperating cash flow above net income-$10.81M vs -$17.52M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.46 → 1.71
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year64.94% → 61.96%
- More efficientAsset turnover rose0.89 → 0.84