TROONasdaqMiscellaneous Business Credit InstitutionFiscal year ends December 31
Troops, Inc. /Cayman Islands/
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 30, 2026
$1.67+0.02 (+1.21%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
9.1%+34.0 pts over 5 years
Operating margin
-172.8%+1395.9 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +69.7% | +64.0% | +31.8% | +24.4% | |
| Gross profit | -19.4% | +23.9% | – | +32.3% | |
| Free cash flow | -59.5% | – | -49.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -6.1% | -71.4% | – | |
| Return on assets | -5.4% | -59.1% | – | |
| Current ratio | 0.91 | 3.44 | 0.92 | |
| Interest coverage | -264.5× | -66.0× | – | |
| Capex to revenue | 0.0% | 2.7% | 0.7% | |
| Diluted shares | 7M | 98M | 121M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Troops, Inc. /Cayman Islands/ generated $21.96M from operations and spent $5.11M on capital expenditure, dividends and share buybacks. 22% of that went back into the business.
Generated
$21.96M
Used
$5.11M
Capital expenditure$1.15M22%Dividends$00%Share buybacks$3.96M78%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-228.4%
×Asset turnover0.05×
×Equity multiplier1.21×
=Return on equity, FY2021-12.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2021 | -228.4% | 0.05× | 1.21× | -12.6% |
| FY2020 | -1582.1% | 0.04× | 1.21× | -71.4% |
| FY2019 | -379.3% | 0.03× | 1.28× | -15.1% |
| FY2018 | -788.0% | 0.01× | 1.30× | -11.2% |
| FY2017 | -21988.2% | 0.00× | 1.17× | -13.2% |
| FY2016 | -99.6% | 0.05× | 1.14× | -6.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$807.00K
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$807.00K vs –
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.30 → 0.92
- No dilutionShare count did not rise102M → 121M
- Gross margin improvedGross margin up on the prior year19.27% → 9.15%
- More efficientAsset turnover rose0.14 → 0.22