SWKHLNasdaqMiscellaneous Business Credit InstitutionFiscal year ends December 31
SWK Holdings Corp
Financials through Q4 FY2025, quarter ended Dec 31, 2025Last filing: 10-K on Mar 20, 2026
$25.13−0.02 (-0.06%)
Close on Oct 19, 2026
- Market cap
- $303.97M
- P/E (TTM)
- –
- Dividend yield
- 15.92%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
48.9%
Net margin
-6.1%−20.3 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 | -7.8% | -0.0% | +2.5% | +5.9% | |
| Operating income | +75.0% | – | – | – | |
| Free cash flow | +16.9% | +50.2% | +11.8% | +9.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 15.2% | 2.2% | -1.0% | |
| Return on assets | 14.8% | 2.0% | -0.8% | |
| Current ratio | – | 0.43 | 9.41 | |
| Interest coverage | – | – | 18.4× | |
| Capex to revenue | – | 10.7% | 1.2% | |
| Diluted shares | 13M | 13M | 12M |
Where the cash went
Fiscal 2021 to 2025, five years combined
SWK generated $107.72M from operations and spent $19.07M on capital expenditure, dividends and share buybacks. 13% of that went back into the business.
Generated
$107.72M
Used
$19.07M
Capital expenditure$2.52M13%Dividends$00%Share buybacks$16.55M87%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-6.1%
×Asset turnover0.14×
×Equity multiplier1.15×
=Return on equity, FY2025-1.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -6.1% | 0.14× | 1.15× | -1.0% |
| FY2024 | 30.0% | 0.13× | 1.17× | 4.7% |
| FY2023 | 42.1% | 0.12× | 1.13× | 5.7% |
| FY2022 | 32.5% | 0.14× | 1.06× | 4.9% |
| FY2021 | 46.2% | 0.20× | 1.10× | 10.2% |
| FY2020 | 14.2% | 0.14× | 1.11× | 2.2% |
| FY2018 | 23.8% | 0.12× | 1.01× | 2.9% |
| FY2017 | 8.1% | 0.18× | 1.02× | 1.5% |
| FY2016 | 129.1% | 0.11× | 1.03× | 15.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$2.53M
- Cash generatingOperating cash flow above zero$27.29M
- Return on assets improvedROA up on the prior year4.0% → -0.8%
- Earnings backed by cashOperating cash flow above net income$27.29M vs -$2.53M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.64 → 9.41
- No dilutionShare count did not rise12M → 12M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.13 → 0.12