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Marblegate Acquisition (GATE) Financials

Marblegate Acquisition logo
$36.05 0.00 (0.00%)
As of 06/3/2026
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Annual Income Statements for Marblegate Acquisition

Annual Income Statements for Marblegate Acquisition

This table shows Marblegate Acquisition's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 1.23 -5.39 -2.39
Consolidated Net Income / (Loss)		 1.23 -5.39 -2.39
Net Income / (Loss) Continuing Operations		 1.23 -5.39 -2.39
Total Pre-Tax Income 		1.87 -5.31 -2.32
Total Operating Income		 -1.67 -5.75 -2.57
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 1.67 5.75 2.57
Other Operating Expenses / (Income)		 1.67 5.75 2.57
Total Other Income / (Expense), net		 3.54 0.44 0.25
Interest & Investment Income		 3.31 0.43 0.25
Other Income / (Expense), net		 0.23 0.01 -0.01
Income Tax Expense		 0.64 0.08 0.07
Basic Earnings per Share		 $0.06 ($0.90) ($0.40)
Weighted Average Basic Shares Outstanding		 38.91M 12.09M 11.77M
Diluted Earnings per Share		 $0.06 ($0.90) ($0.40)
Weighted Average Diluted Shares Outstanding		 38.91M 12.09M 11.77M

Quarterly Income Statements for Marblegate Acquisition

This table shows Marblegate Acquisition's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 0.90 0.33 -2.48 -1.03 -0.89 -0.99 -0.67 -0.47 -0.57 -0.68
Consolidated Net Income / (Loss)		 0.90 0.33 -2.48 -1.03 -0.89 -0.99 -0.67 -0.47 -0.57 -0.68
Net Income / (Loss) Continuing Operations		 0.90 0.33 -2.48 -1.03 -0.89 -0.99 -0.67 -0.47 -0.57 -0.68
Total Pre-Tax Income 		1.18 0.69 -2.46 -1.02 -0.87 -0.97 -0.66 -0.46 -0.53 -0.67
Total Operating Income		 -0.25 -0.94 -2.51 -1.18 -0.96 -1.09 -0.73 -0.53 -0.60 -0.71
Total Operating Expenses		 0.25 0.94 2.51 1.18 0.96 1.09 0.73 0.53 0.60 0.71
Other Operating Expenses / (Income)		 0.25 0.94 2.51 1.18 0.96 1.09 0.73 0.53 0.60 0.71
Total Other Income / (Expense), net		 1.43 1.64 0.06 0.16 0.09 0.12 0.07 0.07 0.07 0.04
Interest & Investment Income		 0.84 1.64 0.10 0.13 0.10 0.10 0.07 0.07 0.07 0.04
Other Income / (Expense), net		 0.59 -0.00 -0.04 0.04 -0.01 0.02 -0.01 -0.00 0.00 0.00
Income Tax Expense		 0.28 0.36 0.03 0.01 0.02 0.02 0.01 0.02 0.03 0.01
Basic Earnings per Share		 $0.04 $0.02 ($0.40) ($0.16) ($0.14) ($0.20) ($0.12) ($0.08) ($0.10) ($0.10)
Weighted Average Basic Shares Outstanding		 41.21M 38.91M 12.22M 12.22M 11.98M 12.09M 11.85M 11.85M 11.79M 11.77M
Diluted Earnings per Share		 $0.04 $0.02 ($0.40) ($0.16) ($0.14) ($0.20) ($0.12) ($0.08) ($0.10) ($0.10)
Weighted Average Diluted Shares Outstanding		 41.21M 38.91M 12.22M 12.22M 11.98M 12.09M 11.85M 11.85M 11.79M 11.77M
Weighted Average Basic & Diluted Shares Outstanding		 41.21M 12.22M 12.22M 11.98M 11.98M 0.00 11.85M 11.85M 11.58M 0.00

Annual Cash Flow Statements for Marblegate Acquisition

This table details how cash moves in and out of Marblegate Acquisition's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 0.19 -0.44 -0.05
Net Cash From Operating Activities		 -1.00 -2.56 -1.25
Net Cash From Continuing Operating Activities		 -1.00 -2.56 -1.25
Net Income / (Loss) Continuing Operations		 1.23 -5.39 -2.39
Consolidated Net Income / (Loss)		 1.23 -5.39 -2.39
Non-Cash Adjustments To Reconcile Net Income		 -3.31 -0.43 -0.25
Changes in Operating Assets and Liabilities, net		 1.07 3.25 1.39
Net Cash From Investing Activities		 294 3.97 2.97
Net Cash From Continuing Investing Activities		 294 3.97 2.97
Other Investing Activities, net		 294 3.97 2.97
Net Cash From Financing Activities		 -293 -1.85 -1.77
Net Cash From Continuing Financing Activities		 -293 -1.85 -1.77
Repurchase of Common Equity		 -294 -3.88 -2.93
Issuance of Debt		 0.20 2.03 1.16
Cash Income Taxes Paid		 0.00 0.65 0.08

Quarterly Cash Flow Statements for Marblegate Acquisition

This table details how cash moves in and out of Marblegate Acquisition's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -0.03 0.53 -0.52 -0.03 0.04 0.07 -0.00 -0.08 0.06 -0.03
Net Cash From Operating Activities		 -0.23 -0.46 -1.10 -0.94 -0.24 -0.28 -0.34 -0.31 -0.26 -0.34
Net Cash From Continuing Operating Activities		 -0.23 -0.46 -1.10 -0.94 -0.24 -0.28 -0.34 -0.31 -0.26 -0.34
Net Income / (Loss) Continuing Operations		 0.90 0.33 -2.48 -1.03 -0.89 -0.99 -0.67 -0.47 -0.57 -0.68
Consolidated Net Income / (Loss)		 0.90 0.33 -2.48 -1.03 -0.89 -0.99 -0.67 -0.47 -0.57 -0.68
Non-Cash Adjustments To Reconcile Net Income		 -1.36 -1.64 1.61 -1.83 -0.10 -0.10 -0.07 -0.07 -0.07 -0.04
Changes in Operating Assets and Liabilities, net		 0.23 0.86 -0.22 1.92 0.75 0.81 0.40 0.24 0.37 0.38
Net Cash From Financing Activities		 0.20 -294 0.58 0.81 -2.28 -0.96 0.34 0.23 -2.65 0.32
Net Cash From Continuing Financing Activities		 0.20 -294 0.58 0.81 -2.28 -0.96 0.34 0.23 -2.65 0.32
Issuance of Debt		 0.20 - 0.58 0.81 0.24 0.40 0.34 0.23 0.28 0.32
Cash Income Taxes Paid		 - - - - - - - - -0.00 0.00

Annual Balance Sheets for Marblegate Acquisition

This table presents Marblegate Acquisition's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 11 6.94 4.17
Total Current Assets		 0.89 0.16 0.11
Cash & Equivalents		 0.57 0.12 0.07
Prepaid Expenses		 0.33 0.04 0.04
Plant, Property, & Equipment, net		 0.00 0.00 0.00
Total Noncurrent Assets		 10 6.78 4.06
Other Noncurrent Operating Assets		 10 6.78 4.06
Total Liabilities & Shareholders' Equity		 11 6.94 4.17
Total Liabilities		 17 22 24
Total Current Liabilities		 1.21 0.48 0.54
Accounts Payable		 0.57 0.37 0.45
Current Deferred & Payable Income Tax Liabilities		 0.64 0.07 0.06
Other Taxes Payable		 0.00 0.04 0.03
Total Noncurrent Liabilities		 15 21 24
Long-Term Debt		 - 2.23 3.39
Other Noncurrent Operating Liabilities		 15 19 20
Commitments & Contingencies		 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 10 6.78 4.03
Total Equity & Noncontrolling Interests		 -16 -21 -24
Total Preferred & Common Equity		 -16 -21 -24
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 -16 -21 -24
Common Stock		 0.00 0.00 0.00
Retained Earnings		 -16 -21 -24

Quarterly Balance Sheets for Marblegate Acquisition

This table presents Marblegate Acquisition's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 304 11 11 8.23 7.06 7.01 4.15
Total Current Assets		 0.37 0.34 0.29 0.22 0.20 0.08 0.12
Cash & Equivalents		 0.04 0.04 0.01 0.05 0.12 0.04 0.10
Prepaid Expenses		 0.33 0.30 0.28 0.17 0.08 0.05 0.03
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 303 10 10 8.00 6.86 6.93 4.03
Other Noncurrent Operating Assets		 303 10 10 8.00 6.86 6.93 4.03
Total Liabilities & Shareholders' Equity		 304 11 11 8.23 7.06 7.01 4.15
Total Liabilities		 16 19 22 21 22 23 24
Total Current Liabilities		 0.56 0.91 2.99 0.51 0.51 0.45 0.54
Accounts Payable		 0.28 0.25 0.42 0.44 0.39 0.39 0.41
Current Deferred & Payable Income Tax Liabilities		 0.28 0.66 0.03 0.05 0.08 0.02 0.05
Other Taxes Payable		 - - 0.03 0.03 0.04 0.04 0.07
Total Noncurrent Liabilities		 15 18 19 20 22 22 23
Long-Term Debt		 - - - - 2.57 2.79 3.07
Other Noncurrent Operating Liabilities		 15 17 19 20 19 20 20
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 303 10 7.94 7.95 6.85 6.89 4.01
Total Equity & Noncontrolling Interests		 -15 -18 -19 -20 -22 -23 -23
Total Preferred & Common Equity		 -15 -18 -19 -20 -22 -23 -23
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -15 -18 -19 -20 -22 -23 -23
Common Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Retained Earnings		 -15 -18 -19 -20 -22 -23 -23

Annual Metrics And Ratios for Marblegate Acquisition

This table displays calculated financial ratios and metrics derived from Marblegate Acquisition's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 0.00% 0.00% 0.00%
EBITDA Growth		 -373.36% -299.49% 55.07%
EBIT Growth		 -373.36% -299.49% 55.07%
NOPAT Growth		 -211.88% -265.95% 55.25%
Net Income Growth		 559.70% -538.06% 55.57%
EPS Growth		 200.00% -1,600.00% 55.56%
Operating Cash Flow Growth		 -35.44% -155.96% 51.04%
Free Cash Flow Firm Growth		 0.00% -99.10% -10.55%
Invested Capital Growth		 -102.08% -111.31% -32.85%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -17.02% -2.11% 12.17%
EBIT Q/Q Growth		 -17.02% -2.11% 12.17%
NOPAT Q/Q Growth		 10.44% -2.63% 12.86%
Net Income Q/Q Growth		 94.70% -32.53% 11.42%
EPS Q/Q Growth		 0.00% -32.35% 20.00%
Operating Cash Flow Q/Q Growth		 21.97% 6.48% -5.17%
Free Cash Flow Firm Q/Q Growth		 0.00% -99.12% 20.06%
Invested Capital Q/Q Growth		 -102.07% -1.75% -2.08%
Profitability Metrics		 - - -
Gross Margin		 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00%
Tax Burden Percent		 65.82% 101.48% 103.02%
Interest Burden Percent		 -130.13% 92.55% 90.15%
Effective Tax Rate		 34.18% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.87% 53.63% 13.78%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -0.09% 99.45% 18.06%
Return on Equity Simple (ROE_SIMPLE)		 -7.79% 25.09% 9.94%
Net Operating Profit after Tax (NOPAT)		 -1.10 -4.02 -1.80
NOPAT Margin		 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 491.24% 178.29% 21.94%
Return On Investment Capital (ROIC_SIMPLE)		 - 20.89% 8.70%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -1.44 -5.74 -2.58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.44 -5.74 -2.58
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00
Price to Earnings (P/E)		 335.65 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.30% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 1.45 51.13 57.53
Leverage & Solvency		 - - -
Debt to Equity		 0.00 -0.15 -0.17
Long-Term Debt to Equity		 0.00 -0.15 -0.17
Financial Leverage		 0.00 -0.08 -0.16
Leverage Ratio		 1.11 -0.90 -0.32
Compound Leverage Factor		 -1.45 -0.84 -0.29
Debt to Total Capital		 0.00% -17.83% -20.31%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% -17.83% -20.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -192.57% -54.34% -24.18%
Common Equity to Total Capital		 292.57% 172.17% 144.49%
Debt to EBITDA		 0.00 -0.39 -1.31
Net Debt to EBITDA		 0.00 -0.37 -1.29
Long-Term Debt to EBITDA		 0.00 -0.39 -1.31
Debt to NOPAT		 0.00 -0.55 -1.88
Net Debt to NOPAT		 0.00 -0.52 -1.84
Long-Term Debt to NOPAT		 0.00 -0.55 -1.88
Altman Z-Score		 12.49 -3.66 -7.09
Noncontrolling Interest Sharing Ratio		 110.80% -85.43% -31.11%
Liquidity Ratios		 - - -
Current Ratio		 0.74 0.33 0.20
Quick Ratio		 0.47 0.26 0.13
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 291 2.61 2.34
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00
Efficiency Ratios		 - - -
Asset Turnover		 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 -5.96 -13 -17
Invested Capital Turnover		 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -292 -6.64 -4.14
Enterprise Value (EV)		 423 134 135
Market Capitalization		 413 125 127
Book Value per Share		 ($0.38) ($1.79) ($2.08)
Tangible Book Value per Share		 ($0.38) ($1.79) ($2.08)
Total Capital		 -5.40 -12 -17
Total Debt		 0.00 2.23 3.39
Total Long-Term Debt		 0.00 2.23 3.39
Net Debt		 -0.57 2.10 3.31
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.88 -0.45 -0.50
Debt-free Net Working Capital (DFNWC)		 -0.31 -0.32 -0.43
Net Working Capital (NWC)		 -0.31 -0.32 -0.43
Net Nonoperating Expense (NNE)		 -2.33 1.37 0.59
Net Nonoperating Obligations (NNO)		 -0.57 2.10 3.31
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.06 ($0.90) ($0.40)
Adjusted Weighted Average Basic Shares Outstanding		 38.91M 12.09M 11.77M
Adjusted Diluted Earnings per Share		 $0.06 ($0.90) ($0.40)
Adjusted Weighted Average Diluted Shares Outstanding		 11.21M 12.09M 11.77M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 12.22M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -1.10 -4.02 -1.80
Normalized NOPAT Margin		 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 23,855.99% -71.97% -122.28%

Quarterly Metrics And Ratios for Marblegate Acquisition

This table displays calculated financial ratios and metrics derived from Marblegate Acquisition's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 21,366.94% -89.10% -1,178.99% -82.76% -385.89% -12.48% 71.24% 53.78% 37.74% 33.47%
EBIT Growth		 21,366.94% -89.10% -1,178.99% -82.76% -385.89% -12.48% 71.24% 53.78% 37.74% 33.47%
NOPAT Growth		 -16,840.15% -29.13% -900.07% -265.08% -255.54% -68.47% 70.99% 55.48% 37.02% 34.77%
Net Income Growth		 56,551.76% 224.93% -1,605.40% -817.52% -198.46% -398.03% 72.88% 54.05% 36.14% 31.17%
EPS Growth		 0.00% 0.00% 0.00% 0.00% -450.00% -1,100.00% 70.00% 50.00% 28.57% 50.00%
Operating Cash Flow Growth		 -32,347.55% 38.20% -425.13% -803.94% -4.28% 38.96% 68.74% 67.37% -9.07% -22.17%
Free Cash Flow Firm Growth		 0.00% 0.00% 201.82% 203.63% 204.08% -97.99% -98.19% -99.57% -98.80% -38.01%
Invested Capital Growth		 137,525.95% -102.08% -102.49% -104.00% -104.30% -111.31% -80.95% -14.29% -32.41% -32.85%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 154.13% -380.02% -169.39% 55.24% 15.33% -10.17% 31.11% 28.07% -14.06% -17.72%
EBIT Q/Q Growth		 154.13% -380.02% -169.39% 55.24% 15.33% -10.17% 31.11% 28.07% -14.06% -17.72%
NOPAT Q/Q Growth		 16.53% -140.05% -287.91% 53.03% 18.71% -13.75% 33.21% 27.92% -15.01% -17.80%
Net Income Q/Q Growth		 526.32% -63.06% -846.81% 58.47% 14.05% -11.81% 32.04% 29.63% -19.44% -20.50%
EPS Q/Q Growth		 0.00% -50.00% -2,100.00% 60.00% 12.50% -42.86% 40.00% 33.33% -25.00% 0.00%
Operating Cash Flow Q/Q Growth		 -121.63% -97.16% -141.08% 14.19% 74.43% -15.42% -23.44% 10.44% 14.53% -29.28%
Free Cash Flow Firm Q/Q Growth		 -0.31% 201.42% -0.02% 1.88% 0.74% -98.04% -10.20% -75.93% 182.82% 1.38%
Invested Capital Q/Q Growth		 0.39% -102.07% -19.83% -60.35% -8.08% -1.75% -2.61% -1.28% -25.22% -2.08%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 76.32% 48.02% 101.05% 101.39% 102.34% 101.92% 101.83% 104.06% 106.01% 101.12%
Interest Burden Percent		 347.82% -72.91% 96.07% 88.83% 89.32% 91.03% 89.89% 86.05% 88.45% 94.92%
Effective Tax Rate		 23.68% 51.98% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.44% 0.87% -0.79% -1.66% -2.95% 53.63% 30.80% 22.15% 17.05% 13.78%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -0.02% -0.09% 0.09% 0.20% 0.38% 99.45% 53.71% 34.19% 23.48% 18.06%
Return on Equity Simple (ROE_SIMPLE)		 -4.28% 0.00% 6.04% 11.76% 20.05% 0.00% 16.11% 13.30% 11.56% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.19 -0.45 -1.76 -0.83 -0.67 -0.76 -0.51 -0.37 -0.42 -0.50
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -619.02% 165.76% 257.66% -531.05% 373.12% 29.51% 10.24% 7.71% 9.75% 6.77%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 3.97% - - - 2.41%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 0.34 -0.95 -2.56 -1.14 -0.97 -1.07 -0.74 -0.53 -0.60 -0.71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.34 -0.95 -2.56 -1.14 -0.97 -1.07 -0.74 -0.53 -0.60 -0.71
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 648.93 335.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.15% 0.30% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 1.45 0.46 0.46 0.45 51.13 44.70 0.00 69.95 57.53
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 -0.15 -0.17 -0.18 -0.16 -0.17
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 -0.15 -0.17 -0.18 -0.16 -0.17
Financial Leverage		 0.00 0.00 0.00 0.00 0.00 -0.08 -0.14 -0.10 -0.09 -0.16
Leverage Ratio		 1.06 1.11 1.12 1.14 1.13 -0.90 -0.77 -0.65 -0.39 -0.32
Compound Leverage Factor		 3.67 -0.81 1.08 1.01 1.01 -0.82 -0.69 -0.56 -0.35 -0.30
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% -17.83% -20.02% -21.36% -18.83% -20.31%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% -17.83% -20.02% -21.36% -18.83% -20.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 105.13% -192.57% -132.67% -69.39% -64.42% -54.34% -53.49% -52.77% -24.60% -24.18%
Common Equity to Total Capital		 -5.13% 292.57% 232.67% 169.39% 164.42% 172.17% 173.51% 174.13% 143.43% 144.49%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.39 -0.65 -0.85 -1.05 -1.31
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.37 -0.62 -0.83 -1.01 -1.29
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.39 -0.65 -0.85 -1.05 -1.31
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.55 -0.92 -1.21 -1.49 -1.88
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.52 -0.88 -1.19 -1.44 -1.84
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.55 -0.92 -1.21 -1.49 -1.88
Altman Z-Score		 15.54 12.63 0.74 0.26 -0.23 -1.44 -1.46 -1.49 -5.19 -5.61
Noncontrolling Interest Sharing Ratio		 105.12% 110.80% 111.87% 112.35% 112.72% -85.43% -74.41% -54.34% -37.71% -31.11%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.66 0.74 0.37 0.10 0.44 0.33 0.39 0.19 0.23 0.20
Quick Ratio		 0.06 0.47 0.05 0.00 0.10 0.26 0.23 0.08 0.18 0.13
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -288 292 292 297 300 5.87 5.27 1.27 3.59 3.64
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 288 -5.96 -7.15 -11 -12 -13 -13 -13 -16 -17
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 288 -292 -294 -298 -300 -6.64 -5.79 -1.64 -4.01 -4.14
Enterprise Value (EV)		 713 423 134 135 133 134 135 138 136 135
Market Capitalization		 410 413 123 127 125 125 125 128 129 127
Book Value per Share		 ($0.36) ($0.38) ($0.44) ($1.59) ($1.69) ($1.79) ($1.86) ($1.92) ($1.97) ($2.08)
Tangible Book Value per Share		 ($0.36) ($0.38) ($0.44) ($1.59) ($1.69) ($1.79) ($1.86) ($1.92) ($1.97) ($2.08)
Total Capital		 288 -5.40 -7.88 -11 -12 -12 -13 -13 -16 -17
Total Debt		 0.00 0.00 0.00 0.00 0.00 2.23 2.57 2.79 3.07 3.39
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 2.23 2.57 2.79 3.07 3.39
Net Debt		 -0.04 -0.57 -0.04 -0.01 -0.05 2.10 2.44 2.75 2.97 3.31
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.22 -0.88 -0.61 -2.71 -0.34 -0.45 -0.43 -0.40 -0.51 -0.50
Debt-free Net Working Capital (DFNWC)		 -0.19 -0.31 -0.57 -2.70 -0.29 -0.32 -0.31 -0.37 -0.41 -0.43
Net Working Capital (NWC)		 -0.19 -0.31 -0.57 -2.70 -0.29 -0.32 -0.31 -0.37 -0.41 -0.43
Net Nonoperating Expense (NNE)		 -1.09 -0.79 0.72 0.20 0.21 0.23 0.16 0.11 0.14 0.18
Net Nonoperating Obligations (NNO)		 0.16 -0.57 0.73 -0.01 -0.05 2.10 2.44 2.75 2.97 3.31
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.04 $0.02 ($0.40) ($0.16) ($0.14) ($0.20) ($0.12) ($0.08) ($0.10) ($0.10)
Adjusted Weighted Average Basic Shares Outstanding		 41.21M 38.91M 12.22M 12.22M 11.98M 12.09M 11.85M 11.85M 11.79M 11.77M
Adjusted Diluted Earnings per Share		 $0.04 $0.02 ($0.40) ($0.16) ($0.14) ($0.20) ($0.12) ($0.08) ($0.10) ($0.10)
Adjusted Weighted Average Diluted Shares Outstanding		 41.21M 38.91M 12.22M 12.22M 11.98M 12.09M 11.85M 11.85M 11.79M 11.77M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 41.21M 12.22M 12.22M 11.98M 11.98M 0.00 11.85M 11.85M 11.58M 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -0.19 -0.66 -1.76 -0.83 -0.67 -0.76 -0.51 -0.37 -0.42 -0.50
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 23,855.99% 0.00% 0.00% -7,279.28% -71.97% 0.00% 0.00% -158.77% -122.28%

Financials Breakdown Chart

Key Financial Trends

Marblegate Acquisition Corp. (NASDAQ: GATE) continues to look like a highly unusual balance sheet story rather than a traditional operating business. Across the last several quarters, the company has generated no revenue and consistently posted operating losses, while relying on interest/investment income, debt issuance, and balance sheet movements to manage cash.

From a retail investor perspective, the key takeaway is that the company’s financials are still dominated by deal-related, SPAC-like accounting items, large liabilities, and recurring net losses. There is little evidence yet of a durable operating turnaround.

  • Q4 2024 showed improved operating cash burn versus prior periods, with operating cash outflow of ($340k) compared with ($263k) in Q3 2024 and ($344k) in Q1 2024.
  • The company ended Q4 2024 with a positive net change in cash on a quarter-over-quarter basis, helped by $315k of debt issuance.
  • Interest and investment income remained a source of support, totaling $36k in Q4 2024.
  • Q4 2023 and 2022 showed periods of strong investment income, indicating the company previously benefited from sizable cash balances or marketable assets.
  • Revenue remained zero in every reported quarter in the data set.
  • Basic and diluted EPS were consistently negative in 2024, but the per-share loss has been relatively contained because of the company’s share structure.
  • The balance sheet includes large line items labeled other noncurrent operating assets and other noncurrent operating liabilities, which makes the financial picture harder to interpret than that of a typical operating company.
  • Redeemable noncontrolling interest remains significant, though it declined sharply from $6.9 million in Q2 2024 to $4.0 million in Q3 2024.
  • Cash balances have been relatively low and volatile, moving from $120k in Q1 2024 to $97k in Q3 2024 and $96.7k in Q3 2024 balance sheet reporting.
  • Marblegate posted a Q4 2024 net loss of $681.8k, slightly worse than the $565.8k loss in Q3 2024.
  • Operating expenses remain substantial relative to the company’s size, with $712.3k in Q4 2024 operating expenses and $604.7k in Q3 2024.
  • The company has no operating revenue to offset expenses, meaning profitability depends entirely on non-operating items.
  • Debt has continued to rise, with long-term debt increasing to $3.07 million in Q3 2024 from $2.79 million in Q2 2024 and $2.565 million in Q1 2024.
  • Total liabilities remain very large relative to assets, including $23.5 million in Q3 2024 and $22.9 million in Q2 2024.
  • Common equity is deeply negative, with total common equity of ($23.38 million) in Q3 2024, underscoring severe balance sheet strain.
  • Historically, the company showed very large losses in 2023, including a $2.48 million loss in Q1 2023 and $990.6k loss in Q4 2023.

Looking at the trend over the last four years, the most important pattern is that Marblegate has not yet transitioned into a self-sustaining business. Losses have generally improved from the extreme levels seen in early 2023, but the company still burns cash, depends on financing, and carries a highly leveraged and complex balance sheet.

Bottom line: GATE remains a high-risk name. The recent quarters show some moderation in losses and cash burn, but the lack of revenue, persistent operating deficits, and negative equity make this a speculative situation rather than a fundamentals-driven growth story.

06/05/26 09:10 AM ETAI Generated. May Contain Errors.

Marblegate Acquisition Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Marblegate Acquisition's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

Marblegate Acquisition's net income appears to be on an upward trend, with a most recent value of -$2.39 million in 2024, falling from $1.23 million in 2022. The previous period was -$5.39 million in 2023.

Marblegate Acquisition's total operating income in 2024 was -$2.57 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $2.57 million

Over the last 2 years, Marblegate Acquisition's total revenue changed from $0.00 in 2022 to $0.00 in 2024, a change of 0.0%.

Marblegate Acquisition's total liabilities were at $24.23 million at the end of 2024, a 11.9% increase from 2023, and a 45.8% increase since 2022.

In the past 2 years, Marblegate Acquisition's cash and equivalents has ranged from $71.53 thousand in 2024 to $568.36 thousand in 2022, and is currently $71.53 thousand as of their latest financial filing in 2024.

Over the last 2 years, Marblegate Acquisition's book value per share changed from -0.38 in 2022 to -2.08 in 2024, a change of 443.0%.


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Financial statements for NASDAQ:GATE last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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