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SPAR Group (SGRP) Financials

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$0.54 +0.04 (+7.94%)
As of 10:19 AM Eastern
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Annual Income Statements for SPAR Group

Annual Income Statements for SPAR Group

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.89 0.17 -0.92 -1.55 2.42 3.37 -1.78 -0.73 3.90 -3.15 -25
Consolidated Net Income / (Loss)		 2.48 1.76 1.18 1.64 5.83 8.96 2.00 2.13 4.78 -2.69 -25
Net Income / (Loss) Continuing Operations		 2.48 1.76 1.18 1.64 5.83 8.96 2.00 2.13 2.35 -1.81 -25
Total Pre-Tax Income 		3.29 2.20 4.15 3.04 9.41 9.27 4.11 4.90 3.00 -1.66 -21
Total Operating Income		 3.27 2.20 4.09 3.73 10 9.72 4.18 5.39 5.58 0.70 -17
Total Gross Profit		 29 30 37 44 49 45 48 51 44 34 22
Total Revenue		 119 134 181 229 253 231 256 261 188 164 136
Operating Revenue		 119 134 181 229 253 231 256 261 188 164 136
Total Cost of Revenue		 90 105 145 185 204 185 208 210 143 130 114
Total Operating Expenses		 26 27 33 41 39 35 43 46 39 33 39
Selling, General & Admin Expense		 24 25 31 38 37 33 37 41 37 34 32
Depreciation Expense		 1.91 2.10 2.13 2.11 2.19 2.13 2.08 2.03 1.83 1.55 1.63
Restructuring Charge		 - - - - - - - - - 0.00 4.77
Total Other Income / (Expense), net		 0.03 -0.01 0.06 -0.69 -0.78 -0.45 -0.08 -0.48 -2.58 -2.36 -3.65
Interest & Investment Income		 - -0.13 -0.34 -1.10 -1.05 -0.69 -0.59 -0.97 -2.23 -2.19 -2.42
Other Income / (Expense), net		 0.24 0.13 0.40 0.41 0.27 0.24 0.51 0.48 -0.35 -0.17 -1.24
Income Tax Expense		 0.82 0.44 2.98 1.40 3.58 0.31 2.11 2.78 0.65 0.14 4.07
Net Income / (Loss) Discontinued Operations		 - - - - - - - - 2.43 -0.88 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.58 1.58 2.10 3.19 3.41 5.60 3.78 2.86 0.87 0.46 0.00
Basic Earnings per Share		 $0.04 $0.01 ($0.04) ($0.07) $0.12 $0.16 ($0.08) ($0.03) $0.17 ($0.13) ($1.04)
Weighted Average Basic Shares Outstanding		 20.56M 20.60M 20.62M 20.68M 20.92M 21.11M 21.27M 22.11M 23.33M 23.56M 23.62M
Diluted Earnings per Share		 $0.04 $0.01 ($0.04) ($0.07) $0.11 $0.16 ($0.08) ($0.03) $0.16 ($0.13) ($1.04)
Weighted Average Diluted Shares Outstanding		 21.57M 21.31M 20.62M 20.68M 21.16M 21.16M 21.27M 22.11M 24.46M 23.56M 23.62M
Weighted Average Basic & Diluted Shares Outstanding		 - 17.30M 20.62M 20.68M 21.10M 21.25M 21.85M 21.85M 24.22M 23.45M 24.13M

Quarterly Income Statements for SPAR Group

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.26 2.14 6.63 -3.89 -0.18 -5.70 0.37 -0.00 -8.76 -16 -0.56
Consolidated Net Income / (Loss)		 1.10 0.80 7.18 -3.44 -0.27 -6.16 0.46 -0.00 -8.76 -16 -0.55
Net Income / (Loss) Continuing Operations		 1.10 -1.63 6.80 -2.19 -0.27 -6.14 0.46 -0.00 -8.76 -16 -0.55
Total Pre-Tax Income 		1.33 -2.79 8.19 -1.26 -2.58 -6.01 0.58 0.12 -7.05 -14 -0.53
Total Operating Income		 1.54 -1.11 8.67 -0.97 -1.53 -5.48 1.04 0.72 -5.92 -13 -0.04
Total Gross Profit		 13 3.83 9.71 8.96 8.44 6.48 7.28 9.06 7.69 -2.33 6.81
Total Revenue		 67 -9.78 49 43 38 33 34 39 41 22 31
Operating Revenue		 67 -9.78 49 43 38 33 34 39 41 22 31
Total Cost of Revenue		 54 -14 40 34 29 27 27 30 34 24 24
Operating Cost of Revenue		 54 -14 40 34 29 27 27 30 34 - 24
Total Operating Expenses		 12 4.94 1.04 9.93 9.97 12 6.24 8.35 14 10 6.85
Selling, General & Admin Expense		 11 4.28 7.72 8.07 8.56 9.53 5.87 7.93 9.19 9.20 6.20
Depreciation Expense		 0.55 0.25 0.48 0.45 0.45 0.17 0.37 0.41 0.40 0.45 0.41
Restructuring Charge		 - - - - 0.00 - 0.00 - 4.02 - 0.25
Total Other Income / (Expense), net		 -0.22 -1.68 -0.48 -0.29 -1.05 -0.53 -0.46 -0.60 -1.13 -1.47 -0.48
Interest & Investment Income		 -0.38 -0.98 -0.48 -0.59 -0.58 -0.54 -0.47 -0.59 -0.66 -0.69 -0.50
Other Income / (Expense), net		 0.16 -0.69 -0.01 0.30 -0.47 0.01 0.01 -0.01 -0.46 -0.77 0.02
Income Tax Expense		 0.23 -1.16 1.39 0.93 -2.31 0.13 0.11 0.12 1.72 2.12 0.03
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - - - 0.09 - - - 0.01
Basic Earnings per Share		 $0.01 $0.09 $0.28 ($0.17) ($0.01) ($0.23) $0.02 $0.00 ($0.37) ($0.69) ($0.02)
Weighted Average Basic Shares Outstanding		 23.24M 23.33M 23.82M 23.79M 23.44M 23.56M 23.45M 23.47M 23.65M 23.62M 24.13M
Diluted Earnings per Share		 $0.01 $0.08 $0.28 ($0.16) ($0.01) ($0.24) $0.02 $0.00 ($0.37) ($0.69) ($0.02)
Weighted Average Diluted Shares Outstanding		 23.38M 24.46M 24.01M 24.01M 23.44M 23.56M 23.55M 23.50M 23.70M 23.62M 24.13M
Weighted Average Basic & Diluted Shares Outstanding		 23.24M 24.22M 24.33M 23.42M 23.45M 23.45M - 23.68M 23.95M 24.13M 25.13M

Annual Cash Flow Statements for SPAR Group

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1.34 1.61 1.50 -1.72 3.35 5.51 -2.50 -4.13 1.37 7.50 -15
Net Cash From Operating Activities		 4.89 1.34 6.77 2.05 6.15 8.80 2.63 -5.04 6.82 -0.67 -18
Net Cash From Continuing Operating Activities		 4.89 1.34 6.77 2.05 6.15 8.80 2.63 -5.04 3.62 -0.24 -18
Net Income / (Loss) Continuing Operations		 2.48 1.76 1.18 1.64 5.83 8.96 2.00 2.13 4.78 -2.69 -25
Consolidated Net Income / (Loss)		 2.48 1.76 1.18 1.64 5.83 8.96 2.00 2.13 4.78 -2.69 -25
Depreciation Expense		 1.91 2.10 2.13 2.11 2.19 2.13 2.08 2.03 1.83 1.55 1.63
Amortization Expense		 - - - 0.00 0.89 2.05 1.12 0.65 0.88 0.55 0.54
Non-Cash Adjustments To Reconcile Net Income		 0.82 0.68 0.34 0.38 0.32 -1.58 5.32 3.15 0.79 -2.27 0.19
Changes in Operating Assets and Liabilities, net		 -0.31 -3.19 3.13 -2.08 -3.09 -2.76 -7.89 -13 -4.65 2.62 3.82
Net Cash From Discontinued Operating Activities		 - - - - - - - - 3.20 -0.43 0.00
Net Cash From Investing Activities		 -1.58 -1.96 -1.45 -0.86 -1.38 -1.60 -1.72 -1.80 -2.27 9.88 -1.06
Net Cash From Continuing Investing Activities		 -1.58 -1.96 -1.45 -0.86 -1.38 -1.60 -1.72 -1.80 -2.26 6.13 -1.06
Purchase of Property, Plant & Equipment		 -1.58 -1.56 -1.45 -1.62 -1.38 -1.60 -1.72 -1.80 -1.19 -1.13 -2.98
Other Investing Activities, net		 - - - - - - - 0.00 -1.07 7.26 1.92
Net Cash From Discontinued Investing Activities		 - - - - - - - - -0.01 3.75 0.00
Net Cash From Financing Activities		 -0.66 3.41 -5.13 0.20 -1.97 0.13 1.33 3.49 -3.02 -1.66 4.53
Net Cash From Continuing Financing Activities		 -0.66 3.41 -5.13 0.20 -1.97 0.13 1.33 3.49 -1.77 -0.34 4.53
Repayment of Debt		 -0.25 -0.02 -2.83 -0.41 -9.93 -61 -76 -26 -106 -128 -131
Repurchase of Common Equity		 -0.11 -0.01 -0.12 - - - 0.00 -0.18 0.00 -1.80 0.00
Payment of Dividends		 -0.34 -0.29 -2.20 -1.91 - - 0.00 -4.34 -0.90 -0.50 0.00
Issuance of Debt		 - 3.60 0.00 2.57 7.98 61 77 34 105 132 135
Issuance of Common Equity		 - - - - - - - - - 0.00 0.76
Other Financing Activities, net		 0.04 0.13 0.01 -0.05 -0.02 -0.00 -0.12 0.12 0.00 -1.84 -0.50
Net Cash From Discontinued Financing Activities		 - - - - - - - - -1.25 -1.32 0.00
Other Net Changes in Cash		 - - - - - - -4.73 -0.78 - -0.06 0.02
Cash Interest Paid		 0.19 0.15 0.46 0.99 0.83 0.74 0.70 1.20 2.33 2.06 2.41
Cash Income Taxes Paid		 0.19 0.23 0.31 0.31 0.20 1.29 2.22 2.29 1.59 0.28 0.15

Quarterly Cash Flow Statements for SPAR Group

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -2.96 2.76 5.91 5.07 -2.04 -1.43 -0.28 -4.01 -5.72 -4.94 1.05
Net Cash From Operating Activities		 -5.10 5.18 0.62 -0.45 -0.90 0.07 -4.04 -7.86 -4.06 -2.48 -3.92
Net Cash From Continuing Operating Activities		 -5.10 1.98 1.92 -1.32 -0.90 0.07 -4.04 -7.86 -4.06 -2.48 -3.92
Net Income / (Loss) Continuing Operations		 1.10 0.80 7.18 -3.44 -0.27 -6.16 0.46 -0.00 -8.76 -16 -0.55
Consolidated Net Income / (Loss)		 1.10 0.80 7.18 -3.44 -0.27 -6.16 0.46 -0.00 -8.76 -16 -0.55
Depreciation Expense		 0.55 0.25 0.48 0.45 0.45 0.17 0.38 0.43 0.39 0.43 0.41
Amortization Expense		 0.18 0.44 0.18 0.13 0.11 0.13 0.09 0.08 0.08 0.29 0.16
Non-Cash Adjustments To Reconcile Net Income		 0.18 0.44 -6.97 1.57 0.86 2.28 0.03 0.03 0.08 0.05 0.00
Changes in Operating Assets and Liabilities, net		 -7.11 0.05 1.06 -0.03 -2.05 3.64 -5.01 -8.39 4.15 13 -3.93
Net Cash From Investing Activities		 -0.37 -1.19 -0.88 12 -1.43 0.35 -0.53 -0.43 -0.58 0.47 -0.50
Net Cash From Continuing Investing Activities		 -0.37 -1.18 -0.88 8.09 -1.43 0.35 -0.53 -0.43 -0.58 0.47 -0.50
Purchase of Property, Plant & Equipment		 -0.37 -0.11 -0.43 -0.34 -0.13 -0.23 -0.53 -0.43 -0.58 -1.44 -0.50
Net Cash From Financing Activities		 2.82 -1.50 6.34 -6.45 0.32 -1.87 4.29 4.26 -1.08 -2.94 5.52
Net Cash From Continuing Financing Activities		 2.82 -0.26 -0.50 1.71 0.32 -1.87 4.29 4.26 -1.08 -2.94 5.52
Repayment of Debt		 -30 -26 -26 -38 -34 -31 -27 -33 -43 -27 -29
Issuance of Debt		 33 25 26 43 34 29 32 38 42 24 35
Other Net Changes in Cash		 -0.30 - -0.17 0.12 -0.03 0.02 0.00 - -0.01 0.01 -0.05
Cash Interest Paid		 0.39 1.03 0.52 0.51 0.61 0.42 0.43 0.55 0.57 0.86 0.43
Cash Income Taxes Paid		 0.20 -0.36 0.21 0.07 - - 0.00 - - 0.15 0.01

Annual Balance Sheets for SPAR Group

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

Metric 2014 2015 2016 2017 2018 2020 2021 2022 2023 2024 2025
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 45 43 55 58 69 84 89 95 90 56 44
Total Current Assets		 32 30 42 47 55 67 72 81 76 46 31
Cash & Equivalents		 4.38 5.72 7.32 8.83 7.11 16 13 9.35 4.49 18 3.26
Accounts Receivable		 26 23 34 36 46 47 54 64 43 25 27
Prepaid Expenses		 0.87 0.66 1.30 2.03 1.88 3.63 4.38 7.86 2.26 3.01 1.17
Plant, Property, & Equipment, net		 2.18 2.44 2.54 2.71 2.95 2.80 2.93 3.26 2.72 2.02 3.60
Total Noncurrent Assets		 10 11 10 8.45 11 15 14 10 11 8.42 9.02
Goodwill		 1.80 1.80 1.85 1.84 3.79 3.76 4.17 1.71 1.29 0.86 0.86
Intangible Assets		 3.15 2.55 2.34 1.63 3.33 2.26 2.30 2.04 1.18 0.84 0.71
Noncurrent Deferred & Refundable Income Taxes		 5.13 5.89 4.69 3.06 2.57 4.20 4.47 3.77 3.32 4.26 0.02
Other Noncurrent Operating Assets		 0.35 0.61 1.14 1.93 1.33 4.50 3.13 2.90 3.66 2.46 7.44
Total Liabilities & Shareholders' Equity		 45 43 55 58 69 84 89 95 90 56 44
Total Liabilities		 21 19 30 32 44 45 52 57 50 32 43
Total Current Liabilities		 16 13 30 32 43 43 50 55 49 30 38
Short-Term Debt		 0.66 0.48 9.78 6.84 10 9.33 11 18 18 17 21
Accounts Payable		 4.50 2.98 5.57 7.34 8.67 7.86 8.94 14 8.02 8.77 9.34
Customer Deposits		 0.66 0.50 1.31 1.54 0.62 1.80 3.90 2.40 1.91 0.89 1.22
Other Current Liabilities		 8.15 7.16 13 17 23 24 26 21 5.66 3.81 6.22
Total Noncurrent Liabilities		 5.86 5.73 0.00 0.11 1.81 2.50 1.46 1.98 1.47 2.08 5.71
Long-Term Debt		 5.86 5.73 0.00 0.11 1.81 1.00 0.70 1.38 0.31 1.72 1.28
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - - - 0.00 0.03
Other Noncurrent Operating Liabilities		 - - - - 0.00 1.50 0.76 0.61 0.99 0.35 4.40
Commitments & Contingencies		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 23 24 25 26 8.48 39 37 38 40 24 0.62
Total Preferred & Common Equity		 19 19 20 20 16 22 20 22 28 24 0.62
Total Common Equity		 19 19 20 20 16 22 20 22 28 24 0.62
Common Stock		 16 16 16 16 17 17 17 21 21 20 20
Retained Earnings		 4.77 5.66 5.84 4.98 3.43 9.22 7.44 6.71 11 7.46 -17
Treasury Stock		 -0.18 -0.17 -0.05 -0.12 -0.01 -0.00 -0.10 -0.29 -0.29 -2.08 -1.05
Accumulated Other Comprehensive Income / (Loss)		 -1.56 -2.87 -2.41 -1.69 -3.64 -3.91 -5.03 -4.94 -3.34 -1.20 -1.15

Quarterly Balance Sheets for SPAR Group

This table presents SPAR Group'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 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 94 105 70 67 70 72 62 51
Total Current Assets		 80 93 62 61 59 61 52 39
Cash & Equivalents		 7.96 17 22 20 18 14 8.21 4.31
Accounts Receivable		 66 69 38 38 38 44 41 34
Prepaid Expenses		 6.16 7.84 2.12 3.08 2.90 2.26 2.35 0.59
Plant, Property, & Equipment, net		 3.09 2.64 2.47 2.14 2.91 2.97 3.27 3.84
Total Noncurrent Assets		 11 8.69 5.78 4.75 8.19 8.04 6.50 8.41
Goodwill		 1.71 0.94 1.24 1.24 0.86 0.86 0.86 0.86
Intangible Assets		 1.30 0.87 0.72 0.69 0.81 0.78 0.74 0.68
Noncurrent Deferred & Refundable Income Taxes		 3.86 3.07 1.03 0.00 4.16 4.10 1.90 0.01
Other Noncurrent Operating Assets		 4.28 3.81 2.80 2.82 2.37 2.31 3.00 6.86
Total Liabilities & Shareholders' Equity		 94 105 70 67 70 72 62 51
Total Liabilities		 54 64 39 38 45 47 45 51
Total Current Liabilities		 52 55 37 34 43 45 43 44
Short-Term Debt		 19 15 18 19 21 25 24 23
Accounts Payable		 14 14 7.83 9.84 14 11 13 6.51
Customer Deposits		 1.77 5.11 4.54 1.68 2.66 1.59 1.15 3.87
Other Current Liabilities		 18 21 6.13 4.22 6.08 7.20 4.62 10
Total Noncurrent Liabilities		 2.00 9.45 2.38 3.58 2.06 2.05 1.66 6.75
Long-Term Debt		 0.92 8.29 1.71 1.71 1.74 1.75 1.13 2.72
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - 1.54 - - - 0.03
Other Noncurrent Operating Liabilities		 1.08 - 0.67 - 0.32 0.30 0.53 3.99
Commitments & Contingencies		 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 40 40 31 30 25 25 17 0.06
Total Preferred & Common Equity		 24 33 29 29 25 25 17 0.06
Total Common Equity		 24 33 29 29 25 25 17 0.06
Common Stock		 21 21 14 13 20 20 20 20
Retained Earnings		 8.47 17 20 20 7.92 7.92 -0.84 -18
Treasury Stock		 -0.29 -0.29 -2.08 -2.08 -2.08 -2.08 -1.68 -1.05
Accumulated Other Comprehensive Income / (Loss)		 -4.87 -4.66 -2.27 -2.02 -1.29 -1.13 -1.19 -1.16

Annual Metrics And Ratios for SPAR Group

This table displays calculated financial ratios and metrics derived from SPAR Group's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 20,552,897.00 20,639,490.00 20,572,644.00 20,657,919.00 21,093,762.00 21,111,861.00 21,320,414.00 22,717,456.00 23,240,959.00 23,449,701.00 23,949,991.00
DEI Adjusted Shares Outstanding		 20,552,897.00 20,639,490.00 20,572,644.00 20,657,919.00 21,093,762.00 21,111,861.00 21,320,414.00 22,717,456.00 23,240,959.00 23,449,701.00 23,949,991.00
DEI Earnings Per Adjusted Shares Outstanding		 0.04 0.01 -0.04 -0.08 0.11 0.16 -0.08 -0.03 0.17 -0.13 -1.03
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.25% 12.61% 35.03% 26.36% 10.33% -8.84% 10.93% 2.17% -28.09% -12.90% -16.82%
EBITDA Growth		 1.48% -18.16% 49.37% -5.64% 116.85% 4.45% -44.17% 8.24% -7.20% -66.88% -707.77%
EBIT Growth		 -2.04% -33.58% 92.75% -7.93% 152.89% -4.71% -52.90% 25.04% -10.87% -89.89% -3,528.73%
NOPAT Growth		 -41.59% -28.26% -34.16% 73.38% 214.37% 48.74% -78.32% 14.68% 87.17% -88.79% -2,514.71%
Net Income Growth		 -43.38% -29.05% -32.97% 39.17% 256.11% 53.64% -77.68% 6.30% 124.65% -156.26% -816.49%
EPS Growth		 0.00% -75.00% -500.00% -75.00% 257.14% 45.45% -150.00% 62.50% 633.33% -181.25% -700.00%
Operating Cash Flow Growth		 133.19% -72.54% 404.24% -69.73% 199.85% 43.18% -70.13% -291.86% 235.23% -109.75% -2,673.38%
Free Cash Flow Firm Growth		 397.94% -130.71% 662.69% -183.58% 220.59% 49.10% -107.97% -1,582.43% 213.35% 48.86% -141.17%
Invested Capital Growth		 -1.80% 10.66% -14.04% 26.23% 4.19% 5.92% 8.00% 34.97% -14.77% -40.48% -19.69%
Revenue Q/Q Growth		 0.19% 10.05% 3.11% 3.14% 1.63% -0.73% 0.26% 1.80% -28.37% 35.44% -7.49%
EBITDA Q/Q Growth		 8.41% -24.36% 20.40% -1.78% 2.11% 36.02% -37.15% 48.75% -11.57% -60.66% -91.65%
EBIT Q/Q Growth		 13.67% -40.36% 34.91% -0.65% -6.49% 22.09% -55.17% 58.08% -18.24% -87.37% -79.73%
NOPAT Q/Q Growth		 -35.96% -41.35% -41.73% 160.02% -8.55% 86.63% -78.97% 145.44% 64.68% -94.42% -75.29%
Net Income Q/Q Growth		 -34.11% -44.87% -42.30% 151.23% -11.07% 95.89% -78.59% 132.35% 123.18% -163.03% -70.33%
EPS Q/Q Growth		 0.00% -75.00% -233.33% 36.36% -8.33% 433.33% 0.00% 0.00% 633.33% -168.42% -76.27%
Operating Cash Flow Q/Q Growth		 81.92% -29.02% 19.65% 209.80% 5.09% -25.40% -2.52% -90.20% 799.87% -114.94% -16.02%
Free Cash Flow Firm Q/Q Growth		 201.67% -12.30% 28.65% 35.91% 115.99% -31.06% 48.90% -124.27% 123.22% -43.79% 30.30%
Invested Capital Q/Q Growth		 12.91% 6.59% -1.03% -4.36% -13.05% 10.34% -12.60% 0.00% -21.29% -19.94% -42.05%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 24.53% 21.99% 20.28% 19.32% 19.48% 19.60% 18.58% 19.52% 23.65% 20.53% 15.94%
EBITDA Margin		 4.54% 3.30% 3.65% 2.72% 5.35% 6.13% 3.09% 3.27% 4.22% 1.61% -11.73%
Operating Margin		 2.74% 1.64% 2.25% 1.63% 4.03% 4.22% 1.64% 2.06% 2.97% 0.43% -12.42%
EBIT Margin		 2.94% 1.73% 2.48% 1.80% 4.14% 4.32% 1.84% 2.25% 2.78% 0.32% -13.33%
Profit (Net Income) Margin		 2.08% 1.31% 0.65% 0.71% 2.31% 3.89% 0.78% 0.81% 2.54% -1.64% -18.09%
Tax Burden Percent		 75.14% 79.93% 28.33% 53.88% 61.98% 96.64% 48.69% 43.36% 159.25% 161.67% 119.82%
Interest Burden Percent		 93.90% 94.29% 92.50% 73.52% 90.00% 93.08% 87.53% 83.55% 57.34% -314.18% 113.31%
Effective Tax Rate		 24.86% 20.07% 71.67% 46.12% 38.02% 3.36% 51.31% 56.64% 21.61% 0.00% 0.00%
Return on Invested Capital (ROIC)		 9.77% 6.71% 4.53% 7.50% 20.70% 29.31% 5.94% 5.58% 9.82% 1.50% -53.81%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.43% 6.44% 10.81% 3.70% 18.86% 25.91% 6.93% 0.52% 17.36% -782.95% -188.15%
Return on Net Nonoperating Assets (RNNOA)		 0.63% 0.38% 0.12% 2.12% 116.93% 17.10% -0.67% 0.06% 2.38% -9.82% -143.76%
Return on Equity (ROE)		 10.40% 7.10% 4.65% 9.63% 137.64% 46.41% 5.27% 5.64% 12.20% -8.33% -197.58%
Cash Return on Invested Capital (CROIC)		 11.58% -3.41% 19.62% -15.68% 16.60% 23.55% -1.75% -24.18% 25.76% 52.24% -31.97%
Operating Return on Assets (OROA)		 7.97% 4.74% 7.96% 6.51% 14.07% 12.18% 5.42% 6.39% 5.66% 0.72% -36.10%
Return on Assets (ROA)		 5.63% 3.57% 2.09% 2.58% 7.85% 10.96% 2.31% 2.32% 5.17% -3.66% -49.01%
Return on Common Equity (ROCE)		 8.18% 5.51% 3.61% 10.17% 264.65% 26.63% 2.90% 3.15% 7.89% -6.77% -197.58%
Return on Equity Simple (ROE_SIMPLE)		 13.23% 8.92% 5.99% 10.05% 0.00% 40.44% 10.13% 9.48% 16.92% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 2.45 1.76 1.16 2.01 6.32 9.39 2.04 2.34 4.37 0.49 -12
NOPAT Margin		 2.06% 1.31% 0.64% 0.88% 2.50% 4.08% 0.80% 0.89% 2.33% 0.30% -8.69%
Net Nonoperating Expense Percent (NNEP)		 -1.66% 0.27% -6.29% 3.80% 1.84% 3.40% -0.99% 5.06% -7.54% 784.44% 134.34%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 7.53% 1.15% -51.79%
Cost of Revenue to Revenue		 75.47% 78.01% 79.72% 80.68% 80.52% 80.40% 81.42% 80.48% 76.35% 79.47% 84.06%
SG&A Expenses to Revenue		 20.20% 18.79% 16.85% 16.78% 14.58% 14.46% 14.38% 15.74% 19.50% 20.71% 23.66%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 21.80% 20.35% 18.02% 17.70% 15.45% 15.39% 16.95% 17.46% 20.68% 20.10% 28.36%
Earnings before Interest and Taxes (EBIT)		 3.51 2.33 4.49 4.14 10 9.96 4.69 5.87 5.23 0.53 -18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5.41 4.43 6.62 6.24 14 14 7.90 8.55 7.93 2.63 -16
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.12 1.05 1.29 0.68 1.45 1.10 1.33 1.26 0.83 1.87 30.46
Price to Tangible Book Value (P/TBV)		 1.46 1.33 1.56 1.21 2.22 1.50 1.97 1.51 0.91 2.01 0.00
Price to Revenue (P/Rev)		 0.18 0.15 0.14 0.05 0.11 0.11 0.10 0.11 0.12 0.28 0.14
Price to Earnings (P/E)		 23.50 119.30 0.00 0.00 11.34 7.21 0.00 0.00 6.02 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% 0.00%
Earnings Yield		 4.25% 0.84% 0.00% 0.00% 8.82% 13.87% 0.00% 0.00% 16.62% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.09 1.03 1.24 0.28 1.27 1.06 1.18 1.12 1.19 1.87 1.94
Enterprise Value to Revenue (EV/Rev)		 0.23 0.21 0.16 0.04 0.16 0.15 0.16 0.21 0.26 0.28 0.28
Enterprise Value to EBITDA (EV/EBITDA)		 5.02 6.43 4.43 1.34 2.92 2.48 5.33 6.31 6.16 17.35 0.00
Enterprise Value to EBIT (EV/EBIT)		 7.74 12.23 6.53 2.02 3.79 3.52 8.97 9.19 9.34 86.15 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 11.07 16.19 25.31 4.16 6.27 3.74 20.67 23.09 11.18 93.01 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.55 21.22 4.33 4.08 6.44 3.99 16.01 0.00 7.16 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.34 0.00 5.84 0.00 7.82 4.65 0.00 0.00 4.26 2.67 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.25 0.39 0.27 1.44 0.00 0.27 0.31 0.51 0.44 0.75 35.73
Long-Term Debt to Equity		 0.23 0.00 0.00 0.21 0.00 0.03 0.02 0.04 0.01 0.07 2.06
Financial Leverage		 0.06 0.06 0.01 0.57 6.20 0.66 -0.10 0.11 0.14 0.01 0.76
Leverage Ratio		 1.85 1.99 2.23 3.73 17.54 4.24 2.28 2.43 2.36 2.27 4.03
Compound Leverage Factor		 1.74 1.87 2.06 2.75 15.78 3.94 1.99 2.03 1.35 -7.14 4.57
Debt to Total Capital		 20.28% 28.06% 21.37% 59.05% 100.00% 21.10% 23.92% 33.71% 30.71% 42.96% 97.28%
Short-Term Debt to Total Capital		 1.56% 28.05% 21.04% 50.32% 87.29% 19.06% 22.49% 31.31% 30.18% 38.92% 91.66%
Long-Term Debt to Total Capital		 18.73% 0.01% 0.33% 8.73% 12.71% 2.04% 1.43% 2.40% 0.53% 4.04% 5.62%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.01% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 18.61% 15.50% 18.17% -37.79% 121.25% 33.63% 35.85% 27.23% 20.69% 0.00% 0.00%
Common Equity to Total Capital		 61.11% 56.44% 60.46% 78.75% 0.00% 45.27% 40.23% 39.04% 48.58% 57.04% 2.72%
Debt to EBITDA		 1.15 2.21 1.05 1.96 0.76 0.73 1.49 2.26 2.25 6.97 -1.39
Net Debt to EBITDA		 0.09 0.55 -0.28 0.82 -0.02 -0.40 -0.22 1.17 1.68 0.03 -1.19
Long-Term Debt to EBITDA		 1.06 0.00 0.02 0.29 0.10 0.07 0.09 0.16 0.04 0.66 -0.08
Debt to NOPAT		 2.53 5.56 5.99 6.08 1.62 1.10 5.77 8.29 4.08 37.36 -1.88
Net Debt to NOPAT		 0.20 1.40 -1.62 2.54 -0.04 -0.60 -0.85 4.29 3.05 0.17 -1.60
Long-Term Debt to NOPAT		 2.34 0.00 0.09 0.90 0.21 0.11 0.34 0.59 0.07 3.51 -0.11
Altman Z-Score		 4.32 3.43 4.27 3.95 4.32 3.95 3.76 3.70 3.08 4.30 1.28
Noncontrolling Interest Sharing Ratio		 21.32% 22.44% 22.34% -5.63% -92.28% 42.63% 44.83% 44.08% 35.34% 18.63% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.27 1.42 1.45 1.30 1.39 1.55 1.43 1.48 1.57 1.53 0.83
Quick Ratio		 2.18 1.38 1.39 1.25 1.34 1.47 1.35 1.34 0.98 1.43 0.80
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.91 -0.89 5.02 -4.20 5.06 7.55 -0.60 -10 11 17 -7.03
Operating Cash Flow to CapEx		 310.48% 86.37% 467.68% 126.39% 446.08% 550.06% 152.67% -280.69% 571.27% -58.90% -619.31%
Free Cash Flow to Firm to Interest Expense		 13.59 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		 22.85 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		 15.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.71 2.73 3.21 3.61 3.40 2.82 2.96 2.85 2.03 2.23 2.71
Accounts Receivable Turnover		 4.82 4.72 5.21 5.58 5.30 4.79 5.06 4.43 3.52 4.82 5.26
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 51.66 53.96 69.12 80.96 87.23 81.70 89.35 84.42 62.86 69.16 48.47
Accounts Payable Turnover		 24.06 24.51 22.40 23.10 22.81 21.75 24.78 18.69 13.30 15.49 12.64
Days Sales Outstanding (DSO)		 75.66 77.27 70.06 65.38 68.88 76.17 72.14 82.34 103.76 75.70 69.42
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 15.17 14.89 16.29 15.80 16.00 16.78 14.73 19.53 27.45 23.56 28.89
Cash Conversion Cycle (CCC)		 60.49 62.38 53.77 49.58 52.88 59.39 57.41 62.82 76.32 52.14 40.53
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 25 28 24 30 31 33 36 48 41 24 20
Invested Capital Turnover		 4.75 5.12 7.08 8.56 8.29 7.19 7.46 6.24 4.22 5.01 6.19
Increase / (Decrease) in Invested Capital		 -0.46 2.65 -3.87 6.21 1.25 1.84 2.64 12 -7.10 -17 -4.80
Enterprise Value (EV)		 27 29 29 8.36 40 35 42 54 49 46 38
Market Capitalization		 21 21 25 11 27 24 26 28 23 45 19
Book Value per Share		 $0.91 $0.95 $0.96 $0.79 $0.00 $1.05 $0.93 $1.03 $1.21 $1.04 $0.03
Tangible Book Value per Share		 $0.70 $0.75 $0.79 $0.44 $0.00 $0.76 $0.62 $0.86 $1.11 $0.96 ($0.04)
Total Capital		 31 35 33 21 10 49 49 57 58 43 23
Total Debt		 6.21 9.78 6.95 12 10 10 12 19 18 18 22
Total Long-Term Debt		 5.73 0.00 0.11 1.81 1.30 1.00 0.70 1.38 0.31 1.72 1.28
Net Debt		 0.49 2.46 -1.88 5.11 -0.23 -5.64 -1.73 10 13 0.08 19
Capital Expenditures (CapEx)		 1.58 1.56 1.45 1.62 1.38 1.60 1.72 1.80 1.19 1.13 2.98
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 12 15 13 16 16 17 19 35 41 14 11
Debt-free Net Working Capital (DFNWC)		 17 22 21 23 26 33 33 44 45 33 15
Net Working Capital (NWC)		 17 13 14 13 17 24 22 26 28 16 -6.29
Net Nonoperating Expense (NNE)		 -0.02 0.00 -0.02 0.37 0.48 0.43 0.04 0.21 -0.40 3.18 13
Net Nonoperating Obligations (NNO)		 0.49 2.46 -1.88 21 31 -5.64 -1.73 10 0.73 0.08 19
Total Depreciation and Amortization (D&A)		 1.91 2.10 2.13 2.11 3.08 4.18 3.20 2.68 2.70 2.10 2.17
Debt-free, Cash-free Net Working Capital to Revenue		 9.72% 11.15% 6.90% 6.95% 6.28% 7.36% 7.58% 13.40% 21.60% 8.74% 8.37%
Debt-free Net Working Capital to Revenue		 14.51% 16.61% 11.76% 10.05% 10.42% 14.29% 12.85% 16.97% 23.99% 19.88% 10.77%
Net Working Capital to Revenue		 14.11% 9.33% 7.99% 5.51% 6.88% 10.24% 8.53% 10.09% 14.66% 9.75% -4.62%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.04 $0.01 ($0.04) ($0.07) $0.12 $0.16 ($0.08) ($0.03) $0.17 $0.00 ($1.04)
Adjusted Weighted Average Basic Shares Outstanding		 20.56M 20.60M 20.62M 20.78M 20.92M 21.11M 21.27M 22.11M 23.33M 0.00 23.62M
Adjusted Diluted Earnings per Share		 $0.04 $0.01 ($0.04) ($0.07) $0.11 $0.16 ($0.08) ($0.03) $0.16 $0.00 ($1.04)
Adjusted Weighted Average Diluted Shares Outstanding		 21.57M 21.31M 20.62M 20.78M 21.16M 21.16M 21.27M 22.11M 24.46M 0.00 23.62M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($0.07) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 17.30M 20.65M 20.68M 21.10M 21.25M 21.85M 21.85M 24.22M 0.00 24.13M
Normalized Net Operating Profit after Tax (NOPAT)		 2.45 1.76 2.86 2.01 6.32 9.39 2.93 5.49 4.37 0.49 -8.50
Normalized NOPAT Margin		 2.06% 1.31% 1.58% 0.88% 2.50% 4.08% 1.15% 2.10% 2.33% 0.30% -6.24%
Pre Tax Income Margin		 2.76% 1.64% 2.29% 1.33% 3.72% 4.02% 1.61% 1.88% 1.60% -1.02% -15.10%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 16.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 11.46 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		 9.03 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		 4.10 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		 13.78% 16.29% 186.75% 116.85% 0.00% 0.00% 0.00% 204.28% 18.82% -18.61% 0.00%
Augmented Payout Ratio		 18.18% 16.97% 197.03% 116.85% 0.00% 0.00% 0.00% 212.79% 18.82% -85.60% 0.00%

Quarterly Metrics And Ratios for SPAR Group

This table displays calculated financial ratios and metrics derived from SPAR Group's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 23,232,739.00 23,240,959.00 24,215,959.00 24,333,147.00 23,419,744.00 23,449,701.00 46,899,402.00 46,899,402.00 23,684,752.00 23,949,991.00 24,129,991.00
DEI Adjusted Shares Outstanding		 23,232,739.00 23,240,959.00 24,215,959.00 24,333,147.00 23,419,744.00 23,449,701.00 46,899,402.00 46,899,402.00 23,684,752.00 23,949,991.00 24,129,991.00
DEI Earnings Per Adjusted Shares Outstanding		 0.01 0.09 0.27 -0.16 -0.01 -0.24 0.01 0.00 -0.37 -0.68 -0.02
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -3.58% -115.12% -23.27% -34.18% -43.88% 438.04% -31.09% -11.00% 9.60% -33.37% -10.35%
EBITDA Growth		 -1.18% -1,441.67% 140.51% -103.10% -159.38% -364.86% -83.69% 1,534.12% -309.49% -147.97% -64.38%
EBIT Growth		 -7.64% -182.92% 170.07% -131.57% -217.42% -202.66% -87.94% 205.67% -218.78% -147.28% -102.49%
NOPAT Growth		 30.01% -46.70% 262.27% -150.33% -183.87% -392.36% -88.45% 99.11% -286.86% -132.60% -103.54%
Net Income Growth		 22.00% 143.18% 304.11% -411.30% -124.59% -874.21% -93.57% 99.97% -3,145.93% -165.20% -219.70%
EPS Growth		 0.00% 172.73% 600.00% -633.33% -200.00% -400.00% -92.86% 100.00% -3,600.00% -187.50% -200.00%
Operating Cash Flow Growth		 -705.05% 687.42% -79.05% -111.69% 82.37% -98.75% -757.56% -1,665.39% -351.33% -3,916.92% 3.12%
Free Cash Flow Firm Growth		 -221.68% 148.67% 461.28% 539.72% 140.41% 101.75% 158.10% -155.60% -136.44% -132.24% -61.86%
Invested Capital Growth		 0.00% -14.77% -0.74% -36.06% -41.48% -40.48% -38.85% 30.04% 10.94% -19.69% -25.41%
Revenue Q/Q Growth		 2.12% -114.52% 605.33% -12.13% -12.93% -12.56% 3.02% 13.48% 7.21% -46.84% 38.60%
EBITDA Q/Q Growth		 -11.28% -145.68% 939.19% -100.91% -1,597.65% -257.59% 129.44% -19.75% -584.74% -116.53% 104.23%
EBIT Q/Q Growth		 -19.65% -205.87% 580.00% -107.73% -198.81% -172.88% 119.13% -32.25% -1,001.41% -111.67% 99.81%
NOPAT Q/Q Growth		 -4.95% -160.96% 1,024.46% -109.40% -58.39% -257.84% 121.68% -100.72% -68,858.46% -115.15% 99.67%
Net Income Q/Q Growth		 -0.72% -27.60% 803.27% -147.95% 92.16% -2,179.63% 107.51% -100.22% -876,300.00% -86.25% 96.61%
EPS Q/Q Growth		 -66.67% 700.00% 250.00% -157.14% 93.75% -2,300.00% 108.33% -100.00% 0.00% -86.49% 97.10%
Operating Cash Flow Q/Q Growth		 -234.03% 201.51% -88.13% -172.36% -102.25% 107.22% -6,321.54% -94.26% 48.29% 38.92% -57.92%
Free Cash Flow Firm Q/Q Growth		 -2,160.39% 112.45% 19.50% 108.74% 30.16% -37.86% 52.88% -144.96% 14.69% 45.01% 280.85%
Invested Capital Q/Q Growth		 14.16% -21.29% 17.24% -39.30% 4.48% -19.94% 20.44% 29.08% -10.86% -42.05% 11.87%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.86% 0.00% 19.66% 20.65% 22.34% 19.61% 21.37% 23.46% 18.57% -10.60% 22.32%
EBITDA Margin		 3.61% 0.00% 18.86% -0.20% -3.82% -15.62% 4.46% 3.16% -14.27% -58.11% 1.77%
Operating Margin		 2.29% 0.00% 17.55% -2.23% -4.05% -16.57% 3.04% 1.85% -14.29% -57.84% -0.14%
EBIT Margin		 2.53% 0.00% 17.54% -1.54% -5.30% -16.53% 3.07% 1.83% -15.41% -61.35% -0.09%
Profit (Net Income) Margin		 1.63% 0.00% 14.54% -7.93% -0.71% -18.63% 1.36% 0.00% -21.16% -74.13% -1.81%
Tax Burden Percent		 82.87% -28.52% 87.69% 273.25% 10.45% 102.46% 80.21% -0.84% 124.40% 114.93% 105.33%
Interest Burden Percent		 77.71% 154.46% 94.52% 188.06% 129.07% 109.96% 55.12% 16.81% 110.39% 105.14% 2,019.23%
Effective Tax Rate		 17.13% 0.00% 17.01% 0.00% 0.00% 0.00% 19.79% 100.84% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 19.11% 0.00% 52.24% -6.27% -8.30% -58.07% 9.35% -0.07% -45.81% -250.62% -0.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 16.20% 0.00% 52.05% -129.76% 3.83% -631.53% 3.52% 0.02% -96.78% -328.41% -4.45%
Return on Net Nonoperating Assets (RNNOA)		 5.00% 0.00% 10.76% -8.27% 0.73% -7.92% 0.69% 0.00% -38.04% -250.93% -4.76%
Return on Equity (ROE)		 24.12% 0.00% 63.00% -14.54% -7.57% -66.00% 10.04% -0.06% -83.85% -501.55% -5.26%
Cash Return on Invested Capital (CROIC)		 -189.80% 25.76% 21.01% 60.19% 73.62% 52.24% 35.67% -37.08% -31.38% -31.97% -19.97%
Operating Return on Assets (OROA)		 7.06% 0.00% 30.34% -2.85% -7.93% -36.88% 5.21% 3.72% -35.13% -166.20% -0.19%
Return on Assets (ROA)		 4.55% 0.00% 25.15% -14.63% -1.07% -41.55% 2.30% -0.01% -48.25% -200.82% -3.96%
Return on Common Equity (ROCE)		 14.84% 0.00% 44.54% -11.14% -5.87% -53.70% 8.94% -0.06% -83.40% -501.55% -5.26%
Return on Equity Simple (ROE_SIMPLE)		 8.74% 0.00% 30.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.28 -0.78 7.20 -0.68 -1.07 -3.83 0.83 -0.01 -4.14 -8.91 -0.03
NOPAT Margin		 1.90% 0.00% 14.57% -1.56% -2.83% -11.60% 2.44% -0.02% -10.00% -40.49% -0.10%
Net Nonoperating Expense Percent (NNEP)		 2.91% -29.31% 0.18% 123.49% -12.13% 573.46% 5.83% -0.09% 50.97% 77.79% 3.95%
Return On Investment Capital (ROIC_SIMPLE)		 - -1.34% 11.13% -1.33% -2.14% -8.99% 1.76% -0.01% -9.86% -39.02% -0.11%
Cost of Revenue to Revenue		 80.14% 0.00% 80.34% 79.35% 77.66% 80.39% 78.63% 76.54% 81.43% 110.60% 77.68%
SG&A Expenses to Revenue		 16.76% 0.00% 15.63% 18.59% 22.65% 28.84% 17.25% 20.54% 22.18% 41.80% 20.31%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.57% 0.00% 2.11% 22.88% 26.39% 36.18% 18.33% 21.61% 32.86% 47.24% 22.46%
Earnings before Interest and Taxes (EBIT)		 1.71 -1.81 8.66 -0.67 -2.00 -5.46 1.05 0.71 -6.38 -14 -0.03
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2.43 -1.11 9.32 -0.09 -1.44 -5.16 1.52 1.22 -5.91 -13 0.54
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.91 0.83 0.68 2.00 1.96 1.87 1.25 0.90 1.47 30.46 255.82
Price to Tangible Book Value (P/TBV)		 1.04 0.91 0.72 2.14 2.10 2.01 1.34 0.97 1.63 0.00 0.00
Price to Revenue (P/Rev)		 0.09 0.12 0.13 0.39 0.47 0.28 0.21 0.16 0.17 0.14 0.11
Price to Earnings (P/E)		 0.00 6.02 2.33 11.42 12.23 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% 0.00%
Earnings Yield		 0.00% 16.62% 42.88% 8.75% 8.18% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.96 1.19 0.78 2.00 1.92 1.87 1.21 0.94 1.23 1.94 1.69
Enterprise Value to Revenue (EV/Rev)		 0.19 0.26 0.22 0.39 0.48 0.28 0.24 0.25 0.28 0.28 0.28
Enterprise Value to EBITDA (EV/EBITDA)		 5.57 6.16 2.81 5.54 8.77 17.35 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 7.81 9.34 3.52 7.40 13.98 86.15 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 18.82 11.18 3.85 9.65 6.66 93.01 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 65.90 7.16 8.36 236.52 13.15 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 4.26 3.71 2.60 1.93 2.67 2.58 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.51 0.44 0.61 0.66 0.70 0.75 0.92 1.08 1.53 35.73 443.41
Long-Term Debt to Equity		 0.02 0.01 0.24 0.06 0.07 0.07 0.07 0.07 0.07 2.06 46.15
Financial Leverage		 0.31 0.14 0.21 0.06 0.19 0.01 0.20 0.21 0.39 0.76 1.07
Leverage Ratio		 2.36 2.36 2.50 2.32 2.33 2.27 2.70 2.55 2.80 4.03 4.89
Compound Leverage Factor		 1.84 3.65 2.36 4.36 3.01 2.50 1.49 0.43 3.09 4.24 98.81
Debt to Total Capital		 33.73% 30.71% 38.06% 39.63% 41.05% 42.96% 47.79% 51.99% 60.51% 97.28% 99.78%
Short-Term Debt to Total Capital		 32.20% 30.18% 23.44% 36.27% 36.99% 38.92% 44.11% 48.61% 57.81% 91.66% 89.39%
Long-Term Debt to Total Capital		 1.54% 0.53% 14.62% 3.36% 4.06% 4.04% 3.67% 3.38% 2.70% 5.62% 10.39%
Preferred Equity to Total Capital		 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 25.47% 20.69% 10.98% 2.60% 0.49% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 40.78% 48.58% 50.96% 57.77% 58.45% 57.04% 52.21% 48.01% 39.49% 2.72% 0.23%
Debt to EBITDA		 2.26 2.25 1.84 1.91 3.08 6.97 -4.37 -6.97 -3.05 -1.39 -1.54
Net Debt to EBITDA		 1.37 1.68 0.60 -0.15 0.14 0.03 -0.90 -3.37 -2.07 -1.19 -1.29
Long-Term Debt to EBITDA		 0.10 0.04 0.71 0.16 0.31 0.66 -0.34 -0.45 -0.14 -0.08 -0.16
Debt to NOPAT		 7.63 4.08 2.52 3.33 2.34 37.36 -4.66 -7.33 -3.77 -1.88 -2.08
Net Debt to NOPAT		 4.63 3.05 0.82 -0.25 0.11 0.17 -0.96 -3.54 -2.55 -1.60 -1.74
Long-Term Debt to NOPAT		 0.35 0.07 0.97 0.28 0.23 3.51 -0.36 -0.48 -0.17 -0.11 -0.22
Altman Z-Score		 3.57 2.83 2.80 3.84 3.49 3.95 3.00 2.75 2.52 1.62 2.16
Noncontrolling Interest Sharing Ratio		 38.46% 0.00% 29.30% 23.36% 22.42% 18.63% 10.97% 2.37% 0.53% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.53 1.57 1.69 1.67 1.77 1.53 1.36 1.36 1.20 0.83 0.88
Quick Ratio		 1.41 0.98 1.55 1.61 1.68 1.43 1.29 1.31 1.14 0.80 0.86
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -51 6.32 7.55 16 21 13 19 -8.77 -7.48 -4.11 7.44
Operating Cash Flow to CapEx		 -1,394.54% 4,667.57% 142.69% -130.88% -708.66% 28.14% -770.29% -1,810.14% -706.43% -171.81% -778.93%
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 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 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 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.79 2.03 1.73 1.84 1.50 2.23 1.70 2.03 2.28 2.71 2.19
Accounts Receivable Turnover		 4.00 3.52 2.61 2.98 2.34 4.82 2.77 3.49 3.72 5.26 3.68
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 84.77 62.86 59.17 53.33 46.15 69.16 53.40 52.84 54.38 48.47 39.27
Accounts Payable Turnover		 15.39 13.30 9.66 11.31 7.69 15.49 8.38 12.16 10.05 12.64 10.97
Days Sales Outstanding (DSO)		 91.36 103.76 139.73 122.57 156.24 75.70 131.63 104.71 98.15 69.42 99.24
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 23.71 27.45 37.79 32.28 47.47 23.56 43.57 30.02 36.31 28.89 33.27
Cash Conversion Cycle (CCC)		 67.64 76.32 101.94 90.29 108.77 52.14 88.06 74.68 61.83 40.53 65.98
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 52 41 48 29 30 24 29 38 34 20 22
Invested Capital Turnover		 10.08 4.22 3.59 4.02 2.93 5.01 3.83 4.28 4.58 6.19 5.17
Increase / (Decrease) in Invested Capital		 52 -7.10 -0.36 -16 -22 -17 -19 8.76 3.33 -4.80 -7.47
Enterprise Value (EV)		 50 49 38 58 59 46 36 36 42 38 37
Market Capitalization		 22 23 23 59 57 45 31 23 24 19 15
Book Value per Share		 $1.05 $1.21 $1.42 $1.21 $1.25 $1.04 $1.05 $1.06 $0.70 $0.03 $0.00
Tangible Book Value per Share		 $0.92 $1.11 $1.34 $1.13 $1.17 $0.96 $0.98 $0.99 $0.63 ($0.04) ($0.06)
Total Capital		 60 58 65 51 50 43 47 52 42 23 26
Total Debt		 20 18 25 20 21 18 23 27 25 22 26
Total Long-Term Debt		 0.92 0.31 9.45 1.71 2.04 1.72 1.74 1.75 1.13 1.28 2.72
Net Debt		 12 13 7.98 -1.54 0.92 0.08 4.67 13 17 19 22
Capital Expenditures (CapEx)		 0.37 0.11 0.43 0.34 0.13 0.23 0.53 0.43 0.58 1.44 0.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 39 41 37 22 25 14 19 27 25 11 14
Debt-free Net Working Capital (DFNWC)		 47 45 53 43 45 33 37 41 33 15 18
Net Working Capital (NWC)		 28 28 38 25 26 16 16 16 8.49 -6.29 -5.45
Net Nonoperating Expense (NNE)		 0.18 -1.57 0.02 2.77 -0.80 2.32 0.37 -0.01 4.62 7.41 0.52
Net Nonoperating Obligations (NNO)		 12 0.73 7.98 -1.54 0.92 0.08 4.67 13 17 19 22
Total Depreciation and Amortization (D&A)		 0.73 0.70 0.65 0.59 0.56 0.30 0.47 0.51 0.47 0.71 0.57
Debt-free, Cash-free Net Working Capital to Revenue		 14.83% 21.60% 21.23% 14.35% 20.79% 8.74% 12.54% 18.96% 16.69% 8.37% 10.32%
Debt-free Net Working Capital to Revenue		 17.86% 23.99% 30.85% 28.78% 37.05% 19.88% 24.64% 28.67% 22.27% 10.77% 13.57%
Net Working Capital to Revenue		 10.49% 14.66% 22.08% 16.52% 21.71% 9.75% 10.56% 11.11% 5.77% -4.62% -4.11%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.01 $0.09 $0.28 $0.15 ($0.01) ($0.23) $0.02 $0.00 ($0.37) ($0.69) ($0.02)
Adjusted Weighted Average Basic Shares Outstanding		 23.24M 23.33M 23.82M 23.79M 23.44M 23.56M 23.45M 23.47M 23.65M 23.62M 24.13M
Adjusted Diluted Earnings per Share		 $0.01 $0.08 $0.28 $0.15 ($0.01) ($0.24) $0.02 $0.00 ($0.37) ($0.69) ($0.02)
Adjusted Weighted Average Diluted Shares Outstanding		 23.38M 24.46M 24.01M 24.01M 23.44M 23.56M 23.55M 23.50M 23.70M 23.62M 24.13M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 23.24M 24.22M 24.33M 23.42M 23.45M 23.45M 0.00 23.68M 23.95M 24.13M 25.13M
Normalized Net Operating Profit after Tax (NOPAT)		 1.28 -0.78 7.20 -0.68 -1.07 -3.83 0.83 0.50 -1.33 -8.91 0.14
Normalized NOPAT Margin		 1.90% 0.00% 14.57% -1.56% -2.83% -11.60% 2.44% 1.30% -3.21% -40.49% 0.47%
Pre Tax Income Margin		 1.97% 0.00% 16.58% -2.90% -6.84% -18.18% 1.69% 0.31% -17.01% -64.51% -1.72%
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 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 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 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 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 303.27% 18.82% 0.00% -9.23% -23.41% -18.61% 0.00% -4.19% -1.73% 0.00% 0.00%
Augmented Payout Ratio		 303.27% 18.82% 0.00% 22.73% 18.81% -85.60% 0.00% -4.19% -1.73% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

SPAR Group (NASDAQ: SGRP) showed a sharp improvement in Q1 2026 versus recent quarters, but the balance sheet remains highly leveraged and equity is still extremely thin. Revenue rose year over year, operating losses narrowed dramatically, and the company generated positive financing inflows that helped rebuild cash. That said, operating cash flow was still deeply negative, and short-term debt remains very large relative to assets and equity.

  • Q1 2026 revenue improved to $30.5 million, up from $22.0 million in Q4 2025 and $34.0 million in Q1 2025, suggesting the business has stabilized after a weak fourth quarter.
  • Operating loss improved materially to just $(42,000) in Q1 2026, compared with $(12.7 million) in Q4 2025 and $(5.5 million) in Q4 2024.
  • Gross profit margin remained healthy in Q1 2026, with gross profit of $6.8 million on $30.5 million of revenue, indicating the core service model still produces a meaningful spread over direct costs.
  • Cash increased to $4.3 million at the end of Q1 2026, up from $3.3 million at Q4 2025, helped by net financing inflows.
  • Debt was actively managed in Q1 2026, with $34.5 million of new debt issued and $29.0 million repaid, showing the company is still accessing lenders to support operations.
  • Interest expense remains a significant drag, as Q1 2026 interest and investment income was negative $499,000 and cash interest paid totaled $434,000.
  • Capital spending stayed modest at $503,000 in Q1 2026, which helps preserve liquidity but also suggests limited investment in growth.
  • The company still carries a large working-capital footprint, with accounts receivable of $33.9 million and current liabilities of $44.2 million at Q1 2026.
  • Operating cash flow was still deeply negative at $(3.9 million) in Q1 2026, after $(2.5 million) in Q4 2025 and $(4.1 million) in Q3 2025.
  • Equity remains essentially nonexistent at just $59,000 in Q1 2026, meaning liabilities nearly equal assets and the balance sheet is highly fragile.
  • Short-term debt of $23.4 million remains a major near-term risk, especially with current liabilities of $44.2 million against cash of only $4.3 million.
  • The company has a recent history of volatile and weak earnings, including a net loss of $16.3 million in Q4 2025 and $8.8 million in Q3 2025, so the Q1 improvement has not yet established a durable trend.

Bottom line: SPAR Group’s Q1 2026 results look better than the prior two quarters, especially on the income statement, but investors should still view the story as a turnaround with high balance-sheet risk. The key question is whether the company can sustain revenue growth and positive operating momentum long enough to reduce leverage and generate consistent operating cash flow.

07/21/26 08:50 AM ETAI Generated. May Contain Errors.

SPAR Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, SPAR Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

SPAR Group's net income appears to be on a downward trend, with a most recent value of -$24.63 million in 2025, falling from $2.48 million in 2015. The previous period was -$2.69 million in 2024. See SPAR Group's forecast for analyst expectations on what's next for the company.

SPAR Group's total operating income in 2025 was -$16.90 million, based on the following breakdown:
  • Total Gross Profit: $21.69 million
  • Total Operating Expenses: $38.60 million

Over the last 10 years, SPAR Group's total revenue changed from $119.28 million in 2015 to $136.10 million in 2025, a change of 14.1%.

SPAR Group's total liabilities were at $43.44 million at the end of 2025, a 35.2% increase from 2024, and a 103.4% increase since 2014.

In the past 10 years, SPAR Group's cash and equivalents has ranged from $3.26 million in 2025 to $18.22 million in 2024, and is currently $3.26 million as of their latest financial filing in 2025.

Over the last 10 years, SPAR Group's book value per share changed from 0.91 in 2015 to 0.03 in 2025, a change of -97.1%.


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Financial statements for NASDAQ:SGRP last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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