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Friday 6 November 2026
Export SDEV’s income statement to Excel — free account
Stablecoin Development Corporation
SDEV Financial Asset Management
Stablecoin Development Corporation’s revenue for fiscal 2024 (year ended December 2024) was $9.8 million, down 6.45% from fiscal 2023.
- Revenue
- +2,540.5%
- EPS
- +121.0%
- Free cash flow
- +43.5%
Quarter to September 2026, against a year earlier
0.99
0.09
+10.00%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 12 | 18 | 13 | 7 | 10 | 10 | 14 | 10 | 10 | — | 66 | (2.4%) | 11 | — | — | — | |
| Gross margin, % | 79.29 | 84.73 | 87.98 | 73.66 | 60.04 | 63.85 | 54.02 | 58.19 | 66.26 | — | 57.02 | (13.0) pt | ||||||
| EBT | (13) | (7) | (7) | (10) | (11) | (6) | (11) | (6) | (9) | (33) | 541 | +10.8% | ||||||
| EBT margin, % | (110.52) | (40.59) | (52.29) | (146.26) | (111.07) | (57.08) | (73.65) | (58.78) | (89.46) | 0.00 | 817.31 | +110.5 pt | ||||||
| Net income | (13) | (7) | (7) | (10) | (11) | (6) | (11) | (10) | (7) | (631) | (74) | +53.7% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 7,931.33 | 7,292.00 | 4,467.14 | 1,885.43 | 1,742.81 | 1,437.18 | 1,565.65 | 435.63 | 14.41 | 0.00 | 0.30 | n/m | |||||
| Earnings | (8,557.88) | (2,934.13) | (2,383.98) | (2,934.13) | (1,894.96) | (916.91) | (1,765.73) | (692.31) | (12.65) | (108.39) | 11.87 | (38.5%) | ||||||
| Cash flow | (7,774.00) | (2,508.00) | (1,988.57) | (2,265.43) | (828.25) | (1,294.65) | (723.26) | (177.54) | (11.04) | (1.45) | (0.05) | (61.5%) | ||||||
| Capex | (106.67) | (97.60) | (15.71) | (5.43) | (4.56) | (7.32) | (12.17) | (0.79) | (0.01) | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | (7,880.67) | (2,605.60) | (2,004.29) | (2,270.86) | (832.81) | (1,301.97) | (735.43) | (178.33) | (11.05) | (1.45) | (0.05) | (61.5%) | ||||||
| Book value | 4,734.00 | 1,037.60 | 1,769.29 | 278.00 | 2,161.05 | 1,432.54 | 1,147.17 | 138.08 | (0.19) | (108.50) | 0.83 | n/m | ||||||
| Shares, m | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 6 | 74 | +150.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.08 | 0.0 | |||||
| P/S | 2.50 | 3.44 | 1.06 | 2.08 | 2.45 | 1.61 | 0.26 | 0.13 | 0.49 | — | 3.27 | 1.6 | ||||||
| P/B | 4.20 | 24.20 | 2.68 | 14.10 | 1.98 | 1.73 | 0.50 | 0.99 | 0.00 | — | 1.19 | 5.6 | ||||||
| EV/Sales | 1.75 | 3.30 | 0.84 | 1.98 | 1.58 | 1.18 | 0.11 | 0.23 | 0.33 | — | — | 1.3 | ||||||
| EV/FCF | (1.76) | (9.23) | (1.88) | (1.65) | (3.30) | (1.31) | (0.24) | (0.56) | (0.65) | — | — | (2.3) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (12) | (6) | (6) | (8) | (5) | (9) | (7) | (4) | (7) | (8) | (11) | (3.5%) | |||||
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | 0 | (33.7%) | ||||||
| Free cash flow | (12) | (7) | (6) | (8) | (5) | (9) | (7) | (4) | (8) | (8) | (11) | (3.7%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 10 | 4 | 5 | 4 | 11 | 10 | 7 | 3 | (1) | 8 | 7 | (3.3%) | |||||
| Net debt | (10) | (3) | (3) | (3) | (12) | (7) | (5) | (3) | 0 | (8) | (7) | (2.0%) | ||||||
| Shareholders’ equity | 7 | 3 | 5 | 1 | 12 | 10 | 11 | 3 | 0 | (631) | 182 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (128.57) | (58.15) | (67.34) | (101.91) | (83.45) | (33.45) | (80.57) | (131.30) | (138.20) | (10,126.51) | (76.72) | (9,997.9) pt | |||||
| ROIC | 0.00 | 0.00 | (277.77) | 0.00 | (513.59) | (186.36) | (159.62) | (657.37) | 0.00 | 0.00 | 8.02 | 0.0 pt | ||||||
| ROE | (1,313.13) | (152.72) | (173.42) | (353.87) | (166.11) | (60.15) | (190.55) | (373.33) | (1,400.81) | 5,410.47 | (81.95) | +6,723.6 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 21 | 86 | 70 | 28 | 25 | 31 | 33 | 26 | 14 | 4 | — | (16.8%) | |||||
| Revenue/emp, $m | 0.57 | 0.21 | 0.18 | 0.24 | 0.40 | 0.33 | 0.44 | 0.40 | 0.70 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2024 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026
Stablecoin Development Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| HNNA Hennessy Advisors, Inc. | $83.2M | 9.8× | 10.6× | +4.17% (above 0%: growing) | −3.85% (below 0%: shrinking) | −6.00% (below 0%: shrinking) | 100.00% | 34.72% | Compare |
| PFX PhenixFIN Corporation | $81.5M | 17.4× | 44.6× | +4.77% (above 0%: growing) | n/m | +89.91% (above 0%: growing) | 100.00% | 68.13% | Compare |
| BCIC BCP Investment Corporation | $74.2M | — (loss-making) | — (loss-making) | +20.07% (above 0%: growing) | n/m | +99.89% (above 0%: growing) | 100.00% | 37.20% | Compare |
| GECC Great Elm Capital Group, Inc. | $68.6M | — (loss-making) | 6.2× | −18.30% (below 0%: shrinking) | n/m | +152.73% (above 0%: growing) | 100.00% | 67.38% | Compare |
| AFCG Advanced Flower Capital Inc. | $67.2M | 3.1× | 2.9× | +40.12% (above 0%: growing) | n/m | +30.46% (above 0%: growing) | 100.00% | 64.59% | Compare |
| GEG Great Elm Group, Inc. | $66.5M | — (loss-making) | — (loss-making) | −69.06% (below 0%: shrinking) | n/m | −378.19% (below 0%: shrinking) | 0.00% | (104.49%) | Compare |
| SDEV Stablecoin Development Corporation | $65.6M | 0.1× | — (loss-making) | +2,540.45% (above 0%: growing) | n/m | +43.46% (above 0%: growing) | 100.00% | 91.79% | |
| PDCC Pearl Diver Credit Company Inc. | $60.8M | — (loss-making) | — | — | +136.54% (above 0%: growing) | — | — | — | Compare |
| ZSTK ZeroStack Corp. | $56.1M | — (loss-making) | — (loss-making) | +40.67% (above 0%: growing) | n/m | +146.50% (above 0%: growing) | 11.85% | (177.43%) | Compare |
| Median of peers | $67.9M | 9.8× | 8.4× | +4.77% | — | +89.91% | 100.00% | 37.20% |
Pay and ownership Proxy statement filed 28 September 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 1.27m | 1.27m | 9.44 |
| 2024 | 365.18k | 366.46k | 0.88 |
| 2023 | 364.15k | 358.86k | 10.46 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement