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Saturday 17 October 2026 Export SLNH’s income statement to Excel — free account

Soluna Holdings, Inc.

SLNH Financial Capital Markets

Soluna Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $29.7 million, down 21.8% from fiscal 2024. In the quarter to June 2026, revenue grew 144.6%, EPS grew 73.9%, free cash flow fell 124.9% and total debt rose 49.9%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

0.66 0.09 −12.00%
Market cap
$183.8M
P/E
0.0×
Fwd P/E
23.6×
Dividend yield
—
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.28
Total sells 1.36
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 1 — — 3 — —
Sell 4 4 — — — 1 — 7 — 5 3 —
Insider Ownership 14.95%

Capital & Financial Ratios $m

Market Cap 183.82
Revenue 42.08
Net Income (82.38)
Free Cash Flow (49.28)
Net Debt (88.48)
Current Ratio 2.06
Debt/Equity 0.17
P/E ratio 0.00
Fwd P/E 23.60
P/S ratio 2.05
P/B ratio 0.41
Past 5Y EPS Growth —
This Y EPS Growth 81.30% (at or above 15%: strong)
Next Y EPS Growth 23.60% (at or above 15%: strong)
Next Y revenue growth 107.79% (at or above 10%: strong)
Next 5Y EPS Growth 74.39% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 82.36%
10-year low 10-year high
P/B against its own 10 years 27.42%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2020 Powerpack
2019 9.25
9.25
2018 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 9 9 81 123
Receivables 3 3 6 7
Inventory — — — —
Other 0 0 3 —
14 13 92 135
2023 2024 2025 Q'26
Payables 2 3 5 4
ST’ Debt 11 14 9 30
Other 2 21 21 23
28 48 49 65

Compound Annual Growth %

10y 5y 3y
Sales 16.72% 118.62% 1.35%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 53.50% 79.72% 33.84%

Revenue $m

Mar Jun Sep Dec Year
’26 9 15 — — —
’25 6 6 8 9 30
’24 13 10 8 8 38
’23 3 2 6 10 21
’22 9 9 6 4 29
’21 1 2 3 9 14
’20 2 2 4 (7) 1
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (5) — — —
’25 0 (1) (2) (6) (9)
’24 4 (7) 0 (2) (5)
’23 (3) (1) (1) 1 (3)
’22 1 1 (7) (1) (6)
’21 1 0 2 3 6
’20 0 0 2 0 2
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (9) (12) — — —
’25 (4) (5) (11) (17) (37)
’24 3 (7) (3) (7) (14)
’23 (4) (2) (9) 1 (13)
’22 (25) (25) (14) (3) (67)
’21 1 (1) (15) (27) (42)
’20 0 0 2 0 1
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.24) (0.18) — — —
’25 (0.88) (0.69) (0.96) 0.54 (2.38)
’24 (2.62) (2.97) (1.29) (6.15) (12.15)
’23 (8.75) (8.50) (4.40) (7.68) (21.08)
’22 (17.25) (14.25) (98.50) (42.52) (172.25)
’21 (1.75) (2.50) (1.50) (5.70) (12.50)
’20 (0.37) 1.50 4.00 (0.01) 5.00
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 8.75 20.00 14.25 15.25 10.75 80.00 6.25 2.09 1.40 0.36

Analyst estimates 2026–2028

Powerpack
High 40.00 46.00 25.75 42.50 161.25 472.50 298.00 19.25 8.80 5.14
People
People Employees 29 27 — — 33 62 32 40 48 55
Revenue/emp, $m 0.24 0.26 0.00 0.00 0.02 0.23 0.89 0.53 0.79 0.54
Income, $m
Income, $m Revenue 7 7 8 7 1 14 29 21 38 30
Gross margin, % 61.42 68.36 71.14 66.44 31.93 43.74 (27.88) 24.86 24.71 21.73
EBT 0 1 2 0 (2) (6) (108) (29) (61) (59)
EBT margin, % (5.22) 8.33 19.15 4.49 (259.16) (44.22) (379.59) (136.57) (159.88) (199.57)
Net income 0 1 2 0 (1) (5) (99) (28) (58) (57)
Depreciation 0 0 0 0 0 6 35 14 16 18
Per share, $
Per share, $ Revenue 29.45 19.33 21.48 17.21 1.55 30.29 47.66 16.03 7.44 1.02
Earnings (1.25) 1.50 5.25 0.84 5.00 (12.50) (172.25) (21.08) (12.15) (2.38)
Cash flow 2.18 0.99 5.32 0.76 4.96 11.72 (9.60) (2.27) (0.99) (0.31)
Capex (0.57) (0.29) (0.25) (0.22) (2.10) (100.00) (102.10) (7.97) (1.71) (0.97)
Free cash flow 1.61 0.70 5.07 0.54 2.86 (88.27) (111.69) (10.25) (2.70) (1.29)
Book value 17.32 13.59 18.51 10.04 15.43 192.12 77.25 40.61 5.36 3.82
Shares, m 0 0 0 0 0 0 1 1 5 29
Valuation, ×
Valuation, × P/E 0.00 16.67 3.85 19.34 23.30 0.00 0.00 0.00 0.00 0.00
P/S 1.23 1.29 0.94 0.97 75.85 8.88 0.16 0.27 0.28 1.14
P/B 2.09 1.84 1.09 1.67 7.63 1.40 0.10 0.10 0.39 0.31
EV/Sales 0.75 0.75 0.23 0.74 73.46 8.25 0.47 0.39 0.61 (0.60)
EV/FCF 13.74 22.76 0.96 23.47 39.88 (2.94) (0.20) (0.60) (1.68) 0.48
Cash, $m
Cash, $m Operating cash flow 1 0 2 0 2 6 (6) (3) (5) (9)
Capex 0 0 0 0 (1) (47) (61) (10) (9) (28)
Free cash flow 0 0 2 0 1 (42) (67) (13) (14) (37)
Balance, $m
Balance, $m Working capital 4 5 6 3 3 9 (26) (14) (34) 43
Total debt — — — 1 0 1 11 11 22 29
Net debt (3) (4) (6) (2) (2) (9) 9 1 13 (52)
Shareholders’ equity 4 5 7 4 6 91 46 53 27 111
Returns, %
Returns, % ROA (9.25) 10.23 27.00 4.65 27.03 (9.33) (103.16) (33.14) (85.14) (50.05)
ROIC (29.34) 32.35 81.01 7.13 (27.61) (3.41) (96.11) (23.06) (74.49) (35.68)
ROE (12.65) 12.77 32.51 5.99 39.92 (12.16) (152.31) (58.62) (189.14) (99.88)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Soluna Holdings, Inc. vs peers in Capital Markets (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
CNCK Coincheck Group N.V. $257.0M — (loss-making) — +24.29% (above 0%: growing) n/m −299.22% (below 0%: shrinking) 2.55% (1.20%) Compare
FUFU BitFuFu Inc. $218.3M — (loss-making) — (loss-making) −62.94% (below 0%: shrinking) n/m +92.59% (above 0%: growing) (2.24%) (51.24%) Compare
AUC ATIF Holdings Limited $188.8M — (loss-making) — (loss-making) +275.00% (above 0%: growing) n/m −4,494.70% (below 0%: shrinking) 100.00% 29.15% Compare
SLNH Soluna Holdings, Inc. $183.8M — (loss-making) 23.6× +144.56% (above 0%: growing) n/m −124.94% (below 0%: shrinking) 5.09% (112.50%)
DEFT DeFi Technologies Inc. $171.2M 7.2× — −40.69% (below 0%: shrinking) n/m −24.31% (below 0%: shrinking) 100.00% (22.78%) Compare
CANG Cango Inc. Sponsored ADR $156.3M — (loss-making) — (loss-making) −63.69% (below 0%: shrinking) n/m −145,939.21% (below 0%: shrinking) (33.17%) (158.75%) Compare
NAKA KindlyMD, Inc. $144.8M — (loss-making) — (loss-making) +8,680.66% (above 0%: growing) n/m −25.71% (below 0%: shrinking) 57.82% (415.62%) Compare
WTF Waton Financial Limited $133.6M — — — — −161.72% (below 0%: shrinking) — — Compare
GSIW Garden Stage Limited $115.7M — — — — +38.83% (above 0%: growing) — — Compare
Median of peers $163.7M — — −8.20% — −93.71% 30.19% (37.01%)

All 93 Capital Markets stocks →

Soluna Holdings, Inc. (SLNH) key facts

  • Concern: Soluna Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $29.7 million, down 21.8% from fiscal 2024.
  • Soluna Holdings, Inc. (SLNH) is a Capital Markets company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, SLNH traded at $0.66, a market capitalization of $183.8 million.
  • Return on equity was −99.9% and debt-to-equity 0.17.
  • Its Piotroski F-score is 3 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Soluna Holdings, Inc. (SLNH) Latest News

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stockrow.com/SLNH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com