What is Kartoon Studios' operating income?

Kartoon Studios' total operating income in 2025 was -$12.92 million, based on the following breakdown: Total Gross Profit: $39.35 million Total Operating Expenses: $52.27 million

Kartoon Studios (TOON) Financials

$0.60 +0.04 (+6.91%)

Closing price 07/16/2026 04:00 PM Eastern

Extended Trading

$0.58 -0.03 (-4.39%)

As of 04:27 AM Eastern

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Annual Income Statements for Kartoon Studios

This table shows Kartoon Studios' 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	-7.27	-6.21	-4.91	-9.36	-15	-402	-126	-46	-77	-21	-25
Consolidated Net Income / (Loss)	-3.48	-6.21	-4.91	-9.00	-11	-402	-126	-45	-77	-21	-25
Net Income / (Loss) Continuing Operations	-3.48	-6.21	-4.91	-9.00	-11	-402	-126	-45	-77	-21	-25
Total Pre-Tax Income	-3.48	-6.21	-4.91	-9.00	-11	-19	-126	-44	-78	-21	-25
Total Operating Income	-3.54	-6.46	-4.91	-8.00	-6.51	-18	-64	-44	-72	-17	-13
Total Gross Profit	0.71	0.59	1.08	-0.54	5.91	2.48	7.87	62	44	33	39
Total Revenue	0.91	0.87	5.34	0.99	5.91	2.48	7.87	62	44	33	39
Operating Revenue	0.91	0.87	5.34	0.99	5.91	2.48	7.87	62	44	33	39
Total Cost of Revenue	0.20	0.28	4.26	1.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	4.25	7.05	5.99	7.46	12	20	72	106	116	50	52
Selling, General & Admin Expense	3.82	6.02	5.33	4.98	12	20	58	95	76	48	51
Marketing Expense	0.42	1.04	0.66	0.74	0.73	0.82	5.44	1.83	2.65	1.24	0.68
Impairment Charge	0.01	0.00	0.00	1.74	-	0.00	8.23	8.97	38	0.00	0.77
Total Other Income / (Expense), net	0.06	0.25	0.01	-1.00	-4.97	-1.18	-63	-0.70	-5.81	-3.99	-12
Interest Expense	0.03	0.01	0.00	1.02	5.24	1.18	0.02	2.33	3.13	0.78	0.66
Other Income / (Expense), net	0.09	0.26	0.01	0.02	0.25	-	-63	1.63	-2.68	-3.21	-11
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.11	-0.97	-0.04	-0.14
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	-0.08	1.07	-0.10	-0.20	-0.17
Basic Earnings per Share	($2.91)	($1.59)	($0.81)	($1.07)	($1.25)	($2.82)	($4.24)	($1.45)	($2.29)	($0.54)	($0.49)
Weighted Average Basic Shares Outstanding	2.50M	3.92M	6.08M	8.76M	11.91M	142.45M	29.75M	31.39M	33.67M	38.41M	50.23M
Diluted Earnings per Share	($2.91)	($1.59)	($0.81)	($1.07)	($1.25)	-	($4.24)	($1.45)	($2.29)	($0.54)	($0.49)
Weighted Average Diluted Shares Outstanding	2.50M	3.92M	6.08M	8.76M	11.91M	142.45M	29.75M	31.39M	33.67M	38.41M	50.23M
Weighted Average Basic & Diluted Shares Outstanding	2.50M	3.92M	6.08M	8.76M	11.91M	142.45M	297.51M	-	-	47.78M	56.34M

This table shows Kartoon Studios' 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	-15	-25	-7.05	-5.87	-2.06	-5.76	-6.53	-6.16	-6.57	-5.27	-6.37
Consolidated Net Income / (Loss)	-16	-25	-7.06	-5.92	-2.12	-5.83	-6.59	-6.27	-6.52	-5.33	-6.41
Net Income / (Loss) Continuing Operations	-16	-25	-7.06	-5.92	-2.12	-5.83	-6.59	-6.27	-6.52	-5.33	-6.41
Total Pre-Tax Income	-16	-25	-7.06	-5.92	-2.12	-5.88	-6.59	-6.27	-3.05	-8.92	-6.41
Total Operating Income	-13	-29	-6.29	-4.66	-2.55	-3.49	-3.08	-3.22	-2.90	-3.73	-2.80
Total Gross Profit	10	8.79	6.08	8.38	8.71	9.42	9.50	10	9.88	9.69	7.24
Total Revenue	10	8.79	6.08	8.38	8.71	9.42	9.50	10	9.88	9.69	7.24
Operating Revenue	10	8.79	6.08	8.38	8.71	9.42	9.50	10	9.88	9.69	7.24
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	23	38	12	13	11	13	13	13	13	13	10
Selling, General & Admin Expense	22	15	12	13	11	13	12	13	13	13	9.85
Marketing Expense	0.52	0.19	0.44	0.29	0.29	0.22	0.19	0.17	0.21	0.12	0.19
Total Other Income / (Expense), net	-2.91	3.78	-0.77	-1.26	0.43	-2.38	-3.51	-3.05	-0.16	-5.20	-3.60
Interest Expense	0.67	0.35	0.20	0.25	0.18	0.15	0.13	0.17	0.16	0.21	0.23
Other Income / (Expense), net	-2.24	4.13	-0.57	-1.02	0.60	-2.23	-3.38	-2.89	-	-	-3.37
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.04	-0.02	-0.02	-0.05	-0.06	-0.07	-0.07	-0.10	0.06	-0.05	-0.04
Basic Earnings per Share	($0.44)	($0.75)	($0.20)	($0.15)	($0.05)	($0.15)	($0.14)	($0.13)	($0.14)	($0.08)	($0.10)
Weighted Average Basic Shares Outstanding	35.09M	33.67M	35.30M	38.39M	39.50M	38.41M	46.69M	47.81M	48.14M	50.23M	62.74M
Diluted Earnings per Share	($0.44)	($0.75)	($0.20)	($0.15)	($0.05)	($0.15)	($0.14)	($0.13)	($0.14)	($0.08)	($0.10)
Weighted Average Diluted Shares Outstanding	35.09M	33.67M	35.30M	38.39M	39.50M	38.41M	46.69M	47.81M	48.14M	50.23M	62.74M
Weighted Average Basic & Diluted Shares Outstanding	35.19M	0.00	39.39M	39.48M	39.57M	47.78M	47.79M	47.98M	53.91M	56.34M	59.14M

This table details how cash moves in and out of Kartoon Studios' 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	0.89	-2.30	4.61	-4.41	-2.78	100	-90	-2.63	-3.34	4.29	-5.44
Net Cash From Operating Activities	-3.40	-3.72	-7.19	-8.01	-6.25	-8.05	-24	-26	-16	-3.49	-11
Net Cash From Continuing Operating Activities	-3.40	-3.72	-7.19	-8.01	-6.25	-8.05	-24	-26	-16	-3.49	-11
Net Income / (Loss) Continuing Operations	-3.48	-6.21	-4.91	-9.00	-11	0.00	-126	-45	-77	-21	-25
Consolidated Net Income / (Loss)	-3.48	-6.21	-4.91	-9.00	-11	-	-126	-45	-77	-21	-25
Depreciation Expense	0.13	0.14	0.13	0.09	0.34	0.09	0.60	2.71	2.55	2.41	2.59
Amortization Expense	0.14	0.17	2.53	1.08	2.23	1.27	2.30	9.26	3.80	2.04	2.00
Non-Cash Adjustments To Reconcile Net Income	0.03	1.37	0.86	3.07	5.48	-8.85	112	27	58	12	12
Changes in Operating Assets and Liabilities, net	-0.21	0.81	-5.80	-3.25	-2.82	-0.57	-12	-20	-3.34	1.46	-3.54
Net Cash From Investing Activities	-0.29	-0.01	-0.11	-0.04	-0.03	-1.40	-129	-31	74	10	-1.63
Net Cash From Continuing Investing Activities	-0.29	-0.01	-0.11	-0.04	-0.03	-1.40	-129	-31	74	10	-1.63
Purchase of Property, Plant & Equipment	-0.18	-0.01	-0.06	-0.02	-0.03	-0.08	-0.30	-0.59	-0.07	-0.12	-0.15
Purchase of Investments	-	-	-	-	0.00	-1.00	-305	-1.57	-	0.00	-6.72
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	190	22	74	10	5.24
Net Cash From Financing Activities	4.58	1.43	12	3.64	3.50	110	62	54	-61	-3.13	8.15
Net Cash From Continuing Financing Activities	4.58	1.43	12	3.64	3.50	110	62	54	-61	-3.13	8.15
Repayment of Debt	0.00	-	-	-2.14	-1.63	-4.86	-1.12	-23	-79	-30	-16
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-0.29	-0.05	-0.00	-0.00
Issuance of Debt	0.00	1.32	2.80	4.19	0.91	6.10	0.00	12	13	11	5.92
Issuance of Common Equity	3.83	0.00	5.70	1.60	4.37	104	-	-	0.00	7.52	7.05
Other Financing Activities, net	0.75	0.11	3.40	0.00	-0.15	3.91	63	67	5.05	8.46	11
Effect of Exchange Rate Changes	-	-	-	-	-	-	-	-0.21	-0.30	0.90	-0.55
Cash Interest Paid	0.00	0.00	0.00	0.27	0.52	0.47	0.02	0.25	1.82	0.13	0.04
Cash Income Taxes Paid	-	-	-	-	-	-	0.00	0.02	0.06	0.00	0.00

This table details how cash moves in and out of Kartoon Studios' 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	-0.95	0.21	-1.33	-0.02	1.84	3.80	-5.61	-0.20	-1.14	1.51	2.07
Net Cash From Operating Activities	-9.58	4.08	3.85	-6.50	1.53	-2.36	-1.82	-4.47	-5.50	0.38	-2.86
Net Cash From Continuing Operating Activities	-9.58	4.08	3.85	-6.50	1.53	-2.36	-1.82	-4.47	-5.50	0.38	-2.86
Net Income / (Loss) Continuing Operations	-16	-25	-7.06	-5.92	-2.12	-5.83	-6.59	-6.27	-6.52	-5.33	-6.41
Consolidated Net Income / (Loss)	-16	-25	-7.06	-5.92	-2.12	-5.83	-6.59	-6.27	-6.52	-5.33	-6.41
Depreciation Expense	0.62	0.61	0.61	0.59	0.59	0.62	0.65	0.63	0.65	0.66	0.68
Amortization Expense	0.88	0.64	0.65	0.51	0.48	0.40	0.34	0.31	0.32	1.04	0.58
Non-Cash Adjustments To Reconcile Net Income	8.20	25	9.57	-0.77	-6.32	9.06	5.84	0.46	0.62	5.33	2.66
Changes in Operating Assets and Liabilities, net	-3.77	2.87	0.08	-0.91	8.90	-6.61	-2.06	0.41	-0.57	-1.32	-0.36
Net Cash From Investing Activities	33	4.44	2.56	2.96	2.38	2.11	-1.19	2.49	1.06	-3.99	2.94
Net Cash From Continuing Investing Activities	33	4.44	2.56	2.96	2.38	2.11	-1.19	2.49	1.06	-3.99	2.94
Purchase of Property, Plant & Equipment	-0.03	-0.00	-0.03	-	-0.04	-0.05	-0.02	-0.06	-0.04	-0.04	-0.03
Purchase of Investments	0.04	-	0.00	-	-0.04	0.04	-1.77	-	-	-4.95	0.00
Sale and/or Maturity of Investments	33	5.84	2.59	2.97	2.45	2.12	0.61	2.55	1.09	1.00	2.97
Net Cash From Financing Activities	-25	-7.97	-7.89	3.09	-1.64	3.31	-2.57	2.29	3.09	5.33	1.78
Net Cash From Continuing Financing Activities	-25	-7.97	-7.89	3.09	-1.64	3.31	-2.57	2.29	3.09	5.33	1.78
Repayment of Debt	-22	-9.72	-14	-4.94	-6.60	-4.79	-7.75	-2.97	-1.47	-3.68	-2.69
Issuance of Debt	4.30	1.77	3.08	3.22	2.76	1.97	2.70	2.52	0.70	-0.01	2.63
Other Financing Activities, net	-13	5.30	2.83	1.46	2.21	1.97	2.49	2.74	3.87	1.96	1.84
Effect of Exchange Rate Changes	0.05	-0.34	0.15	0.43	-0.43	0.74	-0.04	-0.52	0.21	-0.21	0.21
Cash Interest Paid	-	1.54	0.25	-0.18	0.07	-0.02	0.06	-0.02	0.00	0.00	0.05
Cash Income Taxes Paid	-	-	0.02	-	-	-	0.00	-	-	-	0.00

This table presents Kartoon Studios' assets and liabilities at the end of each period, using annual balance sheet 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
Total Assets	19	18	28	25	29	134	174	240	111	85	71
Total Current Assets	5.43	3.38	11	5.58	4.65	109	136	140	56	35	36
Cash & Equivalents	5.19	1.89	6.93	2.68	0.31	100	2.06	7.43	3.59	7.88	2.94
Short-Term Investments	-	-	-	-	-	0.00	113	84	12	2.03	3.98
Note & Lease Receivable	-	-	-	-	-	0.00	1.28	-	-	-	17
Accounts Receivable	0.17	0.12	3.05	2.18	4.10	1.73	8.60	20	18	13	11
Prepaid Expenses	0.07	0.36	0.26	0.30	0.23	6.38	3.73	2.57	0.74	0.61	0.84
Plant, Property, & Equipment, net	0.15	0.09	0.09	0.08	0.06	0.10	0.45	2.40	1.88	2.05	1.64
Total Noncurrent Assets	13	14	17	19	25	26	37	98	54	49	34
Noncurrent Note & Lease Receivables	-	0.00	1.78	-	-	-	0.00	2.34	3.30	4.01	0.31
Intangible Assets	1.92	1.85	1.86	0.09	9.96	12	13	37	24	22	18
Other Noncurrent Operating Assets	1.00	2.26	2.78	8.49	4.38	2.02	9.55	25	26	22	16
Total Liabilities & Shareholders' Equity	19	18	28	25	29	134	174	240	111	85	71
Total Liabilities	4.75	7.88	13	12	20	15	29	127	58	49	43
Total Current Liabilities	2.61	3.86	2.79	4.61	8.30	7.18	21	111	46	33	33
Accounts Payable	1.28	1.57	0.45	0.63	2.03	0.79	7.26	11	17	12	12
Accrued Expenses	0.51	0.25	1.02	0.05	0.12	0.41	0.54	0.90	0.69	0.41	0.74
Current Deferred Revenue	0.31	1.90	0.45	0.87	0.66	0.68	0.43	9.07	3.13	6.00	4.39
Current Employee Benefit Liabilities	0.10	0.13	0.17	0.14	0.23	0.43	0.80	2.48	1.93	1.21	1.37
Other Current Liabilities	-	-	0.70	1.08	2.87	4.50	5.72	26	22	13	15
Total Noncurrent Liabilities	2.14	4.03	9.88	7.15	12	7.83	8.30	16	13	16	9.92
Noncurrent Deferred Revenue	2.14	2.70	4.63	4.05	4.44	3.75	3.49	3.37	3.46	3.37	3.37
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	0.00	2.37	1.40	1.30	1.23
Other Noncurrent Operating Liabilities	-	-	0.93	0.93	4.49	2.98	4.81	9.05	0.01	5.48	5.33
Commitments & Contingencies	-	0.00	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	14	10	15	13	9.09	119	145	113	53	36	28
Total Preferred & Common Equity	14	10	15	13	9.09	119	143	111	52	35	26
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	14	10	15	13	9.09	119	143	111	52	35	26
Common Stock	45	47	57	64	75	589	740	763	774	778	794
Retained Earnings	-30	-37	-42	-51	-66	-470	-596	-641	-719	-739	-764
Treasury Stock	-	-	-	-	-	-	0.00	-0.29	-0.34	-0.34	-0.60
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.00	-0.01	-0.01	-0.01	-0.01	-1.22	-9.93	-3.88	-3.38	-3.24
Noncontrolling Interest	-	-	-	-	-	0.00	1.92	1.79	1.69	1.49	1.32

This table presents Kartoon Studios' 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	136	93	89	87	72	70	67	64
Total Current Assets	61	41	39	37	25	25	27	31
Cash & Equivalents	3.89	2.76	2.74	4.58	2.26	2.06	0.92	5.02
Short-Term Investments	16	9.38	6.46	4.08	3.23	0.69	0.00	1.00
Note & Lease Receivable	-	-	-	-	-	-	-	18
Accounts Receivable	14	15	14	15	9.45	8.57	9.99	5.09
Prepaid Expenses	1.53	1.58	1.25	0.90	1.35	1.35	1.12	1.18
Plant, Property, & Equipment, net	1.95	1.78	1.68	1.66	1.92	1.89	1.73	1.48
Total Noncurrent Assets	73	51	49	48	45	43	38	31
Noncurrent Note & Lease Receivables	2.22	1.47	1.24	1.03	2.68	2.71	2.66	0.26
Intangible Assets	25	24	23	23	23	23	23	17
Other Noncurrent Operating Assets	25	26	24	24	19	16	12	14
Total Liabilities & Shareholders' Equity	136	93	89	87	72	70	67	64
Total Liabilities	62	47	45	44	42	40	43	41
Total Current Liabilities	50	35	34	34	27	30	33	31
Accounts Payable	9.61	12	10	12	5.96	6.77	8.25	7.14
Accrued Expenses	0.90	1.81	1.08	1.13	1.74	1.28	1.52	2.60
Current Deferred Revenue	2.68	3.76	4.79	5.02	6.15	6.51	5.48	3.60
Current Employee Benefit Liabilities	2.14	2.11	1.94	1.71	1.67	1.92	1.77	1.41
Other Current Liabilities	32	12	14	13	11	14	15	17
Total Noncurrent Liabilities	13	12	11	11	15	9.97	10	9.58
Capital Lease Obligations	-	7.15	0.18	6.02	5.12	5.24	4.86	0.12
Noncurrent Deferred Revenue	3.59	3.42	3.38	3.37	3.37	3.37	3.37	3.37
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	1.40	1.39	1.40	1.28	1.34	1.31	1.21
Other Noncurrent Operating Liabilities	8.98	0.01	6.11	0.01	5.04	0.03	0.66	4.89
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	74	46	44	43	30	30	24	23
Total Preferred & Common Equity	72	45	43	41	29	28	23	21
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	72	45	43	41	29	28	23	21
Common Stock	774	775	778	778	778	784	785	795
Retained Earnings	-697	-726	-731	-734	-746	-752	-759	-770
Treasury Stock	-0.31	-0.34	-0.34	-0.34	-0.34	-0.34	-0.60	-0.60
Accumulated Other Comprehensive Income / (Loss)	-4.71	-3.91	-3.70	-3.38	-3.32	-3.24	-3.24	-3.24
Noncontrolling Interest	1.71	1.67	1.62	1.56	1.42	1.32	1.38	1.28

This table displays calculated financial ratios and metrics derived from Kartoon Studios' 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	10,859,450.00	3,990,349.00	7,610,794.00	9,272,000.00	14,426,823.00	256,429,900.00	300,967,436.00	319,139,256.00	35,189,123.00	39,568,887.00	53,905,697.00
DEI Adjusted Shares Outstanding	1,085,945.00	399,035.00	761,079.00	927,200.00	1,442,682.00	25,642,990.00	30,096,744.00	31,913,926.00	35,189,123.00	39,568,887.00	53,905,697.00
DEI Earnings Per Adjusted Shares Outstanding	-6.69	-15.57	-6.45	-10.09	-10.30	-15.66	-4.20	-1.43	-2.19	-0.52	-0.46
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.92%	-4.53%	515.51%	-81.38%	494.68%	-57.97%	217.08%	691.30%	-29.24%	-26.07%	20.75%
EBITDA Growth	12.65%	-85.35%	61.97%	-204.35%	45.94%	-348.36%	-647.16%	75.60%	-128.06%	77.06%	-24.29%
EBIT Growth	7.98%	-79.80%	20.96%	-62.93%	21.65%	-185.83%	-606.56%	66.68%	-78.28%	73.08%	-19.66%
NOPAT Growth	-1.72%	-82.81%	23.99%	-62.89%	18.71%	-174.83%	-256.52%	31.42%	-65.53%	76.52%	24.01%
Net Income Growth	6.58%	-78.38%	20.99%	-83.43%	-27.51%	-3,398.49%	68.54%	64.76%	-73.37%	72.88%	-17.94%
EPS Growth	-385.00%	45.36%	49.06%	-32.10%	-16.82%	0.00%	0.00%	64.76%	-57.93%	76.42%	9.26%
Operating Cash Flow Growth	-36.85%	-9.41%	-93.39%	-11.43%	21.94%	-28.84%	-195.74%	-8.83%	37.92%	78.32%	-226.91%
Free Cash Flow Firm Growth	-155.75%	-84.97%	-84.88%	-10.27%	32.87%	-241.00%	-215.46%	-58.17%	85.11%	111.02%	92.47%
Invested Capital Growth	-4.94%	-9.04%	39.59%	16.02%	3.51%	32.70%	50.54%	193.59%	-45.35%	-29.13%	-36.30%
Revenue Q/Q Growth	-1.79%	2.50%	514.09%	-81.53%	8.31%	29.11%	19.44%	35.91%	-18.89%	1.99%	0.70%
EBITDA Q/Q Growth	0.42%	-18.69%	58.50%	-204.69%	29.88%	95.77%	-287.09%	40.06%	-19.84%	54.83%	-123.30%
EBIT Q/Q Growth	-4.05%	-14.78%	12.10%	-36.08%	15.96%	95.44%	-266.09%	30.11%	-14.94%	48.93%	-90.61%
NOPAT Q/Q Growth	-6.11%	-13.71%	12.04%	-36.08%	16.34%	-87.75%	-29.31%	31.24%	-15.01%	60.21%	-1.83%
Net Income Q/Q Growth	-5.33%	-14.54%	12.06%	-39.56%	11.73%	-2.48%	-20.56%	27.49%	-12.89%	48.29%	2.02%
EPS Q/Q Growth	-277.92%	53.37%	29.57%	-32.10%	14.97%	0.00%	-20.56%	27.49%	-18.04%	47.06%	5.77%
Operating Cash Flow Q/Q Growth	2.08%	-39.17%	-4.75%	-4.77%	12.67%	-13.59%	-28.45%	18.69%	27.07%	-218.31%	19.39%
Free Cash Flow Firm Q/Q Growth	3.90%	-44.00%	-8.48%	6.20%	3.98%	-158.44%	3.59%	-113.55%	81.44%	109.42%	-44.92%
Invested Capital Q/Q Growth	-2.46%	4.20%	12.79%	-4.42%	0.32%	33.31%	-20.65%	165.34%	-18.75%	-21.51%	-24.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.93%	67.79%	20.21%	-54.69%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-349.95%	-679.41%	-41.98%	-686.14%	-62.38%	-665.45%	-1,568.06%	-48.36%	-155.84%	-48.36%	-49.78%
Operating Margin	-389.47%	-745.77%	-92.09%	-805.69%	-110.13%	-720.18%	-809.77%	-70.18%	-164.16%	-52.15%	-32.82%
EBIT Margin	-379.77%	-715.23%	-91.84%	-803.72%	-105.90%	-720.18%	-1,604.81%	-67.57%	-170.24%	-62.00%	-61.44%
Profit (Net Income) Margin	-383.61%	-716.73%	-92.00%	-906.32%	-194.34%	-16,176.80%	-1,605.07%	-71.48%	-175.12%	-64.25%	-62.76%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	2,107.18%	100.00%	100.24%	98.76%	99.80%	99.46%
Interest Burden Percent	101.01%	100.21%	100.17%	112.77%	183.52%	106.60%	100.02%	105.53%	104.17%	103.86%	102.71%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-25.82%	-50.72%	-33.78%	-43.72%	-32.52%	-75.51%	-188.43%	-54.64%	-78.41%	-30.50%	-34.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.57%	2.58%	28.32%	258.53%	-260.16%	742.63%	-112.91%	-35.50%	65.43%	124.10%	249.96%
Return on Net Nonoperating Assets (RNNOA)	0.80%	-0.68%	-5.34%	-20.87%	-72.21%	-550.71%	92.64%	20.06%	-14.54%	-16.18%	-43.05%
Return on Equity (ROE)	-25.02%	-51.40%	-39.12%	-64.59%	-104.73%	-626.22%	-95.79%	-34.58%	-92.94%	-46.68%	-77.19%
Cash Return on Invested Capital (CROIC)	-20.75%	-41.25%	-66.83%	-58.55%	-35.96%	-103.62%	-228.78%	-153.01%	-19.75%	3.60%	10.22%
Operating Return on Assets (OROA)	-19.05%	-33.69%	-21.47%	-30.53%	-23.16%	-21.86%	-81.97%	-20.35%	-42.76%	-20.52%	-30.92%
Return on Assets (ROA)	-19.25%	-33.76%	-21.50%	-34.42%	-42.51%	-491.00%	-81.98%	-21.53%	-43.99%	-21.27%	-31.59%
Return on Common Equity (ROCE)	-25.02%	-51.40%	-39.12%	-64.59%	-104.72%	-626.22%	-95.09%	-34.08%	-90.99%	-45.03%	-73.80%
Return on Equity Simple (ROE_SIMPLE)	-24.67%	-61.79%	-32.64%	-70.13%	-126.35%	-336.98%	-88.54%	-40.09%	-149.70%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.48	-4.53	-3.44	-5.60	-4.55	-13	-45	-31	-51	-12	-9.04
NOPAT Margin	-272.63%	-522.04%	-64.46%	-563.98%	-77.09%	-504.12%	-566.84%	-49.12%	-114.91%	-36.50%	-22.97%
Net Nonoperating Expense Percent (NNEP)	-23.25%	-53.30%	-62.10%	-302.25%	227.64%	-818.15%	-75.52%	-19.14%	-143.84%	-154.59%	-284.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-82.10%	-27.81%	-32.84%
Cost of Revenue to Revenue	22.07%	32.21%	79.79%	154.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	421.10%	694.15%	99.89%	501.56%	197.77%	787.23%	736.11%	152.83%	171.77%	148.34%	129.14%
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	468.23%	813.77%	112.30%	751.01%	210.13%	820.18%	909.77%	170.18%	264.16%	152.15%	132.82%
Earnings before Interest and Taxes (EBIT)	-3.45	-6.20	-4.90	-7.98	-6.26	-18	-126	-42	-75	-20	-24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.18	-5.89	-2.24	-6.82	-3.69	-17	-123	-30	-69	-16	-20
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.84	2.15	1.38	1.55	0.43	2.97	2.21	1.34	0.95	0.67	1.48
Price to Tangible Book Value (P/TBV)	6.44	0.00	7.35	8.36	0.00	3.65	2.75	3.65	1.79	1.85	4.51
Price to Revenue (P/Rev)	13.04	24.90	3.88	20.07	0.67	142.52	40.14	2.38	1.11	0.72	0.99
Price to Earnings (P/E)	0.00	0.00	0.00	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%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.76	2.36	1.48	1.52	0.64	13.41	7.09	1.45	0.94	0.64	1.61
Enterprise Value to Revenue (EV/Rev)	7.78	23.11	3.28	21.00	1.54	102.13	25.63	1.94	0.98	0.64	0.84
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	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	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	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	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	14.75	12.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.03	0.13	0.29	0.31	0.60	0.01	0.04	0.55	0.16	0.17	0.00
Long-Term Debt to Equity	0.00	0.13	0.29	0.17	0.34	0.01	0.00	0.01	0.14	0.15	0.00
Financial Leverage	-0.31	-0.26	-0.19	-0.08	0.28	-0.74	-0.82	-0.57	-0.22	-0.13	-0.17
Leverage Ratio	1.30	1.52	1.82	1.88	2.46	1.28	1.17	1.61	2.11	2.19	2.44
Compound Leverage Factor	1.31	1.53	1.82	2.12	4.52	1.36	1.17	1.70	2.20	2.28	2.51
Debt to Total Capital	2.83%	11.70%	22.32%	23.80%	37.56%	1.22%	4.23%	35.39%	13.69%	14.76%	0.00%
Short-Term Debt to Total Capital	2.83%	0.00%	0.00%	10.87%	16.31%	0.30%	4.23%	34.81%	1.27%	2.10%	0.00%
Long-Term Debt to Total Capital	0.00%	11.70%	22.32%	12.93%	21.25%	0.91%	0.00%	0.58%	12.42%	12.66%	0.00%
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%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.27%	1.02%	2.74%	3.48%	4.81%
Common Equity to Total Capital	97.17%	88.30%	77.68%	76.20%	62.44%	98.79%	94.49%	63.58%	83.57%	81.76%	95.19%
Debt to EBITDA	-0.13	-0.23	-1.93	-0.59	-1.48	-0.09	-0.05	-2.05	-0.12	-0.40	0.00
Net Debt to EBITDA	1.50	0.26	1.42	-0.14	-1.40	6.07	0.94	0.97	0.11	0.26	0.00
Long-Term Debt to EBITDA	0.00	-0.23	-1.93	-0.32	-0.84	-0.07	0.00	-0.03	-0.11	-0.34	0.00
Debt to NOPAT	-0.17	-0.29	-1.26	-0.72	-1.20	-0.12	-0.14	-2.02	-0.17	-0.53	0.00
Net Debt to NOPAT	1.93	0.34	0.92	-0.17	-1.13	8.01	2.60	0.96	0.15	0.34	0.00
Long-Term Debt to NOPAT	0.00	-0.29	-1.26	-0.39	-0.68	-0.09	0.00	-0.03	-0.15	-0.46	0.00
Altman Z-Score	-1.14	-2.34	-1.16	-2.85	-3.68	9.74	0.09	-3.22	-10.24	-12.21	-15.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.73%	1.44%	2.10%	3.54%	4.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.08	0.88	3.88	1.21	0.56	15.12	6.44	1.26	1.22	1.04	1.07
Quick Ratio	2.06	0.52	3.57	1.06	0.53	14.24	5.89	1.00	0.74	0.70	1.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1.99	-3.68	-6.80	-7.50	-5.04	-17	-54	-86	-13	1.41	2.71
Operating Cash Flow to CapEx	-1,856.20%	-63,591.32%	-11,517.42%	-37,027.84%	-23,173.01%	-10,597.37%	-7,887.09%	-4,378.89%	-22,350.00%	-2,982.05%	-7,553.64%
Free Cash Flow to Firm to Interest Expense	-72.80	-329.26	-2,108.60	-7.36	-0.96	-14.56	-2,709.16	-36.80	-4.08	1.80	4.12
Operating Cash Flow to Interest Expense	-124.27	-332.46	-2,227.11	-7.86	-1.19	-6.83	-1,190.95	-11.13	-5.15	-4.48	-17.39
Operating Cash Flow Less CapEx to Interest Expense	-130.96	-332.99	-2,246.44	-7.88	-1.20	-6.89	-1,206.05	-11.38	-5.17	-4.63	-17.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.23	0.04	0.22	0.03	0.05	0.30	0.25	0.33	0.50
Accounts Receivable Turnover	4.77	5.88	3.36	0.38	1.88	0.85	1.52	4.42	2.34	2.07	3.21
Inventory Turnover	21.35	40.93	352.57	92.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.90	7.18	57.64	11.67	84.09	30.87	28.89	43.73	20.61	16.59	21.34
Accounts Payable Turnover	0.16	0.20	4.20	2.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	76.45	62.06	108.68	961.80	194.08	428.70	239.50	82.51	156.23	176.53	113.86
Days Inventory Outstanding (DIO)	17.09	8.92	1.04	3.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	2,296.67	1,868.07	86.88	128.92	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-2,203.13	-1,797.10	22.83	836.85	194.08	428.70	239.50	82.51	156.23	176.53	113.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9.34	8.50	12	14	14	19	28	84	46	32	21
Invested Capital Turnover	0.09	0.10	0.52	0.08	0.42	0.15	0.33	1.11	0.68	0.84	1.49
Increase / (Decrease) in Invested Capital	-0.49	-0.84	3.36	1.90	0.48	4.66	9.56	55	-38	-13	-12
Enterprise Value (EV)	7.06	20	18	21	9.09	254	202	121	43	21	33
Market Capitalization	12	22	21	20	3.93	354	316	148	49	23	39
Book Value per Share	$1.30	$2.52	$1.98	$1.38	$0.63	$0.46	$0.47	$0.35	$1.47	$0.88	$0.49
Tangible Book Value per Share	$0.17	($0.54)	$0.37	$0.26	($0.78)	$0.38	$0.38	$0.13	$0.78	$0.32	$0.16
Total Capital	15	11	19	17	15	121	151	175	62	43	28
Total Debt	0.41	1.33	4.32	4.01	5.47	1.47	6.39	62	8.45	6.31	0.00
Total Long-Term Debt	0.00	1.33	4.32	2.18	3.09	1.10	0.00	1.02	7.66	5.41	0.00
Net Debt	-4.78	-1.56	-3.18	0.93	5.16	-100	-116	-29	-7.60	-4.10	-6.92
Capital Expenditures (CapEx)	0.18	0.01	0.06	0.02	0.03	0.08	0.30	0.59	0.07	0.12	0.15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.95	-3.37	0.54	-0.28	-1.58	1.30	-1.14	-1.71	-5.23	-8.29	-4.61
Debt-free Net Working Capital (DFNWC)	3.24	-0.48	8.04	2.80	-1.28	102	121	89	11	2.12	2.31
Net Working Capital (NWC)	2.83	-0.48	8.04	0.97	-3.65	101	115	29	10	1.22	2.31
Net Nonoperating Expense (NNE)	1.01	1.69	1.47	3.40	6.93	389	82	14	27	9.04	16
Net Nonoperating Obligations (NNO)	-4.78	-1.56	-3.18	0.93	5.16	-100	-116	-29	-7.60	-4.10	-6.92
Total Depreciation and Amortization (D&A)	0.27	0.31	2.66	1.17	2.57	1.36	2.89	12	6.35	4.44	4.59
Debt-free, Cash-free Net Working Capital to Revenue	-214.95%	-388.44%	10.18%	-28.34%	-26.77%	52.28%	-14.44%	-2.75%	-11.86%	-25.44%	-11.71%
Debt-free Net Working Capital to Revenue	356.38%	-55.30%	150.71%	282.20%	-21.60%	4,098.03%	1,542.56%	143.54%	24.53%	6.52%	5.88%
Net Working Capital to Revenue	311.17%	-55.30%	150.71%	97.81%	-61.78%	4,083.29%	1,461.37%	45.93%	22.76%	3.76%	5.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($5.40)	($15.90)	($8.10)	($10.70)	($12.50)	($28.20)	($4.20)	($1.45)	($2.29)	($0.54)	($0.49)
Adjusted Weighted Average Basic Shares Outstanding	1.13M	565.21K	820.28K	1.04M	2.96M	30.03M	29.75M	31.39M	33.67M	38.41M	50.23M
Adjusted Diluted Earnings per Share	($5.40)	($15.90)	($8.10)	($10.70)	($12.50)	($28.20)	$0.00	($1.45)	($2.29)	($0.54)	($0.49)
Adjusted Weighted Average Diluted Shares Outstanding	1.13M	565.21K	820.28K	1.04M	2.96M	30.03M	29.75M	31.39M	33.67M	38.41M	50.23M
Adjusted Basic & Diluted Earnings per Share	($5.40)	($15.90)	($8.10)	($10.70)	($12.50)	($28.20)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	750.26K	391.52K	608.47K	875.87K	1.19M	14.25M	29.75M	0.00	0.00	47.78M	56.34M
Normalized Net Operating Profit after Tax (NOPAT)	-2.47	-4.52	-3.44	-4.38	-4.55	-13	-39	-24	-24	-12	-8.50
Normalized NOPAT Margin	-272.05%	-521.89%	-64.46%	-441.38%	-77.09%	-504.12%	-493.66%	-39.04%	-54.45%	-36.50%	-21.61%
Pre Tax Income Margin	-383.61%	-716.73%	-92.00%	-906.32%	-194.34%	-767.70%	-1,605.07%	-71.31%	-177.33%	-64.39%	-63.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-126.16	-554.67	-1,518.58	-7.83	-1.19	-15.15	-6,317.35	-18.07	-24.01	-25.94	-36.86
NOPAT to Interest Expense	-90.57	-404.85	-1,065.90	-5.50	-0.87	-10.61	-2,231.36	-13.14	-16.21	-15.27	-13.78
EBIT Less CapEx to Interest Expense	-132.85	-555.19	-1,537.92	-7.85	-1.20	-15.22	-6,332.45	-18.33	-24.03	-26.09	-37.09
NOPAT Less CapEx to Interest Expense	-97.26	-405.37	-1,085.23	-5.52	-0.87	-10.67	-2,246.46	-13.39	-16.23	-15.42	-14.01
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.69%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.35%	-0.06%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Kartoon Studios' 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	35,060,546.00	35,189,123.00	35,189,123.00	39,387,500.00	39,480,182.00	39,568,887.00	47,784,964.00	47,793,720.00	47,984,466.00	53,905,697.00	56,336,035.00
DEI Adjusted Shares Outstanding	35,060,546.00	35,189,123.00	35,189,123.00	39,387,500.00	39,480,182.00	39,568,887.00	47,784,964.00	47,793,720.00	47,984,466.00	53,905,697.00	56,336,035.00
DEI Earnings Per Adjusted Shares Outstanding	-0.44	-0.72	-0.20	-0.15	-0.05	-0.15	-0.14	-0.13	-0.14	-0.10	-0.11
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-48.82%	-53.89%	-57.16%	-24.04%	-13.54%	7.23%	56.37%	22.60%	13.42%	2.89%	-23.84%
EBITDA Growth	-122.64%	-91.24%	74.36%	52.69%	93.41%	80.26%	2.28%	-12.98%	-118.77%	56.79%	10.16%
EBIT Growth	-41.32%	-63.65%	71.06%	50.29%	86.89%	77.19%	5.80%	-7.49%	-48.89%	34.88%	4.50%
NOPAT Growth	-131.73%	-47.81%	71.39%	45.57%	79.79%	88.04%	51.08%	31.02%	-13.70%	-6.64%	8.96%
Net Income Growth	-37.99%	-53.17%	70.39%	52.39%	86.33%	77.03%	6.70%	-5.81%	-207.17%	8.71%	2.82%
EPS Growth	-25.71%	-41.51%	72.97%	60.53%	88.64%	80.00%	30.00%	13.33%	-180.00%	46.67%	28.57%
Operating Cash Flow Growth	-47.79%	314.98%	174.44%	-19.86%	115.94%	-157.95%	-147.39%	31.25%	-459.99%	116.13%	-56.75%
Free Cash Flow Firm Growth	-5,989.02%	125.32%	118.14%	180.59%	139.33%	-37.80%	-25.46%	-88.77%	-10.81%	-15.83%	-13.66%
Invested Capital Growth	78.46%	-45.35%	-32.52%	-40.13%	-26.64%	-29.13%	-33.38%	-12.71%	-33.45%	-36.30%	-43.61%
Revenue Q/Q Growth	-8.75%	-12.77%	-30.82%	37.94%	3.86%	8.19%	0.88%	8.15%	-3.91%	-1.86%	-25.33%
EBITDA Q/Q Growth	-37.94%	-78.64%	76.50%	18.31%	80.79%	-435.27%	-16.34%	5.55%	62.80%	-5.72%	-141.91%
EBIT Q/Q Growth	-29.94%	-69.00%	72.64%	17.26%	65.74%	-194.19%	-12.95%	5.59%	52.54%	-28.66%	-65.65%
NOPAT Q/Q Growth	-47.19%	-131.73%	78.45%	25.95%	45.36%	-37.18%	11.88%	-4.42%	9.92%	-28.66%	24.77%
Net Income Q/Q Growth	-24.68%	-63.68%	72.18%	16.15%	64.19%	-175.01%	-13.00%	4.92%	-3.96%	18.27%	-20.28%
EPS Q/Q Growth	-15.79%	-70.45%	73.33%	25.00%	66.67%	-200.00%	6.67%	7.14%	-7.69%	42.86%	-25.00%
Operating Cash Flow Q/Q Growth	-76.71%	142.54%	-5.67%	-269.02%	123.50%	-254.68%	22.86%	-145.23%	-23.03%	106.93%	-849.61%
Free Cash Flow Firm Q/Q Growth	-27.87%	152.05%	-2.60%	24.30%	-37.59%	-17.68%	16.72%	-81.27%	395.63%	-22.31%	19.73%
Invested Capital Q/Q Growth	-7.55%	-18.75%	-2.72%	-18.07%	13.28%	-21.51%	-8.55%	7.36%	-13.64%	-24.88%	-19.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-132.48%	-271.30%	-92.17%	-54.58%	-10.09%	-49.94%	-57.60%	-50.30%	-19.47%	-20.97%	-67.95%
Operating Margin	-125.14%	-332.43%	-103.55%	-55.59%	-29.25%	-37.09%	-32.40%	-31.28%	-29.32%	-38.44%	-38.73%
EBIT Margin	-147.34%	-285.45%	-112.88%	-67.71%	-22.34%	-60.74%	-68.00%	-59.36%	-29.32%	-38.44%	-85.27%
Profit (Net Income) Margin	-154.01%	-288.98%	-116.22%	-70.65%	-24.36%	-61.91%	-69.35%	-60.97%	-65.96%	-54.94%	-88.49%
Tax Burden Percent	100.00%	99.85%	100.00%	100.00%	100.00%	99.27%	100.00%	100.00%	213.40%	59.68%	100.00%
Interest Burden Percent	104.53%	101.39%	102.96%	104.33%	109.05%	102.69%	101.98%	102.70%	105.42%	239.45%	103.78%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-108.59%	-158.77%	-47.31%	-26.68%	-13.43%	-21.69%	-22.07%	-24.35%	-23.36%	-39.98%	-43.45%
ROIC Less NNEP Spread (ROIC-NNEP)	-96.93%	-131.97%	-28.03%	-11.35%	-9.94%	36.21%	330.11%	112.54%	-507.75%	9.32%	96.22%
Return on Net Nonoperating Assets (RNNOA)	54.95%	29.32%	5.61%	2.98%	1.65%	-4.72%	-10.87%	-8.92%	-14.08%	-1.60%	-11.63%
Return on Equity (ROE)	-53.64%	-129.45%	-41.70%	-23.70%	-11.78%	-26.41%	-32.94%	-33.27%	-37.45%	-41.59%	-55.08%
Cash Return on Invested Capital (CROIC)	-156.81%	-19.75%	-33.13%	-25.81%	-30.64%	3.60%	14.00%	-11.77%	14.31%	10.22%	17.53%
Operating Return on Assets (OROA)	-41.05%	-71.70%	-28.02%	-16.90%	-6.39%	-20.11%	-29.68%	-28.31%	-14.88%	-19.35%	-46.76%
Return on Assets (ROA)	-42.91%	-72.59%	-28.85%	-17.63%	-6.97%	-20.50%	-30.27%	-29.07%	-33.47%	-27.65%	-48.52%
Return on Common Equity (ROCE)	-52.69%	-126.74%	-40.66%	-23.10%	-11.45%	-25.48%	-31.60%	-31.95%	-35.80%	-39.76%	-52.24%
Return on Equity Simple (ROE_SIMPLE)	-94.58%	0.00%	-134.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.82	-20	-4.41	-3.26	-1.78	-2.45	-2.16	-2.25	-2.03	-2.61	-1.96
NOPAT Margin	-87.60%	-232.70%	-72.49%	-38.92%	-20.47%	-25.96%	-22.68%	-21.89%	-20.52%	-26.91%	-27.11%
Net Nonoperating Expense Percent (NNEP)	-11.66%	-26.80%	-19.28%	-15.34%	-3.49%	-57.90%	-352.18%	-136.90%	484.38%	-49.30%	-139.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-33.13%	-7.79%	-7.16%	-3.57%	-5.72%	-6.06%	-6.43%	-7.02%	-9.47%	-8.64%
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%	0.00%
SG&A Expenses to Revenue	219.96%	172.41%	196.25%	152.11%	125.92%	134.78%	130.44%	129.65%	127.20%	129.30%	136.07%
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	225.14%	432.43%	203.55%	155.59%	129.25%	137.09%	132.40%	131.28%	129.32%	138.44%	138.73%
Earnings before Interest and Taxes (EBIT)	-15	-25	-6.86	-5.68	-1.95	-5.72	-6.46	-6.10	-2.90	-3.73	-6.17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-13	-24	-5.60	-4.58	-0.88	-4.71	-5.47	-5.17	-1.92	-2.03	-4.92
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.68	0.95	1.08	0.95	0.83	0.67	1.04	1.25	1.56	1.48	1.65
Price to Tangible Book Value (P/TBV)	1.86	1.79	2.26	2.06	1.87	1.85	5.05	7.31	0.00	4.51	7.99
Price to Revenue (P/Rev)	0.90	1.11	1.34	1.22	1.07	0.72	0.82	0.94	0.91	0.99	0.95
Price to Earnings (P/E)	0.00	0.00	0.00	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%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.59	0.94	1.08	0.94	0.83	0.64	1.04	1.22	1.47	1.61	1.83
Enterprise Value to Revenue (EV/Rev)	0.61	0.98	1.33	1.03	1.07	0.64	0.85	1.03	1.03	0.84	0.82
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	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	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	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	11.58	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	14.75	5.91	0.00	8.19	12.28	7.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.03	0.16	0.22	0.03	0.17	0.17	0.18	0.18	0.20	0.00	0.01
Long-Term Debt to Equity	0.00	0.14	0.15	0.00	0.14	0.15	0.17	0.18	0.20	0.00	0.01
Financial Leverage	-0.57	-0.22	-0.20	-0.26	-0.17	-0.13	-0.03	-0.08	0.03	-0.17	-0.12
Leverage Ratio	1.93	2.11	2.10	2.02	1.91	2.19	2.16	2.15	2.31	2.44	2.57
Compound Leverage Factor	2.01	2.14	2.17	2.11	2.09	2.25	2.20	2.21	2.43	5.85	2.67
Debt to Total Capital	2.92%	13.69%	17.84%	2.70%	14.21%	14.76%	15.55%	15.28%	16.82%	0.00%	0.51%
Short-Term Debt to Total Capital	2.92%	1.27%	5.20%	2.32%	2.14%	2.10%	1.17%	0.33%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	12.42%	12.64%	0.39%	12.07%	12.66%	14.38%	14.95%	16.82%	0.00%	0.51%
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%	0.00%
Noncontrolling Interests to Total Capital	2.24%	2.74%	2.96%	3.56%	3.12%	3.48%	4.00%	3.77%	4.76%	4.81%	5.65%
Common Equity to Total Capital	94.84%	83.57%	79.20%	93.74%	82.67%	81.76%	80.45%	80.95%	78.42%	95.19%	93.84%
Debt to EBITDA	-0.04	-0.12	-0.19	-0.03	-0.20	-0.40	-0.35	-0.33	-0.55	0.00	-0.01
Net Debt to EBITDA	0.31	0.11	0.04	0.17	0.05	0.26	0.03	-0.13	-0.39	0.00	0.31
Long-Term Debt to EBITDA	0.00	-0.11	-0.14	0.00	-0.17	-0.34	-0.33	-0.32	-0.55	0.00	-0.01
Debt to NOPAT	-0.05	-0.17	-0.25	-0.03	-0.24	-0.53	-0.57	-0.62	-0.55	0.00	-0.01
Net Debt to NOPAT	0.40	0.15	0.05	0.22	0.05	0.34	0.05	-0.24	-0.39	0.00	0.67
Long-Term Debt to NOPAT	0.00	-0.15	-0.18	0.00	-0.20	-0.46	-0.53	-0.61	-0.55	0.00	-0.01
Altman Z-Score	-6.55	-8.76	-10.05	-10.73	-10.96	-11.65	-13.96	-14.34	-15.07	-14.12	-16.20
Noncontrolling Interest Sharing Ratio	1.76%	2.10%	2.49%	2.55%	2.80%	3.54%	4.05%	3.97%	4.39%	4.39%	5.14%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.24	1.22	1.18	1.16	1.10	1.04	0.94	0.84	0.83	1.07	0.98
Quick Ratio	0.68	0.74	0.79	0.70	0.69	0.70	0.56	0.37	0.34	1.04	0.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-34	17	17	21	13	11	13	2.37	12	9.14	11
Operating Cash Flow to CapEx	-31,936.67%	101,900.00%	11,308.82%	0.00%	4,241.67%	-5,025.53%	-9,110.00%	-7,446.67%	-15,269.44%	1,088.57%	-8,654.55%
Free Cash Flow to Firm to Interest Expense	-49.90	50.01	83.74	85.90	74.94	70.50	99.01	14.38	74.93	44.36	46.96
Operating Cash Flow to Interest Expense	-14.26	11.68	18.94	-26.42	8.68	-15.34	-14.23	-27.08	-35.01	1.85	-12.26
Operating Cash Flow Less CapEx to Interest Expense	-14.30	11.67	18.77	-26.42	8.47	-15.64	-14.39	-27.44	-35.24	1.68	-12.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.25	0.25	0.25	0.29	0.33	0.44	0.48	0.51	0.50	0.55
Accounts Receivable Turnover	4.16	2.34	2.71	2.70	2.25	2.07	2.91	3.30	3.17	3.21	5.10
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	25.11	20.61	18.19	17.46	17.73	16.59	19.46	21.26	23.11	21.34	21.84
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	87.69	156.23	134.85	135.03	162.21	176.53	125.57	110.68	115.27	113.86	71.55
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)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	87.69	156.23	134.85	135.03	162.21	176.53	125.57	110.68	115.27	113.86	71.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	56	46	44	36	41	32	30	32	27	21	17
Invested Capital Turnover	1.24	0.68	0.65	0.69	0.66	0.84	0.97	1.11	1.14	1.49	1.60
Increase / (Decrease) in Invested Capital	25	-38	-21	-24	-15	-13	-15	-4.62	-14	-12	-13
Enterprise Value (EV)	33	43	48	34	34	21	31	39	40	33	31
Market Capitalization	49	49	48	41	34	23	30	36	35	39	35
Book Value per Share	$2.06	$1.47	$1.27	$1.09	$1.04	$0.88	$0.72	$0.59	$0.47	$0.49	$0.40
Tangible Book Value per Share	$0.75	$0.78	$0.61	$0.50	$0.46	$0.32	$0.15	$0.10	($0.01)	$0.16	$0.08
Total Capital	76	62	57	46	50	43	36	35	29	28	23
Total Debt	2.23	8.45	10	1.23	7.09	6.31	5.53	5.35	4.86	0.00	0.12
Total Long-Term Debt	0.00	7.66	7.15	0.18	6.02	5.41	5.12	5.24	4.86	0.00	0.12
Net Debt	-18	-7.60	-2.05	-7.96	-1.57	-4.10	-0.47	2.10	3.43	-6.92	-5.90
Capital Expenditures (CapEx)	0.03	0.00	0.03	0.00	0.04	0.05	0.02	0.06	0.04	0.04	0.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.99	-5.23	-3.08	-2.91	-4.11	-8.29	-7.29	-8.04	-6.85	-4.61	-6.67
Debt-free Net Working Capital (DFNWC)	14	11	9.07	6.29	4.55	2.12	-1.29	-4.78	-5.42	2.31	-0.66
Net Working Capital (NWC)	12	10	6.13	5.23	3.48	1.22	-1.71	-4.90	-5.42	2.31	-0.66
Net Nonoperating Expense (NNE)	6.69	4.95	2.66	2.66	0.34	3.39	4.44	4.02	4.49	2.72	4.44
Net Nonoperating Obligations (NNO)	-18	-7.60	-2.05	-7.96	-1.57	-4.10	-0.47	2.10	3.43	-6.92	-5.90
Total Depreciation and Amortization (D&A)	1.50	1.24	1.26	1.10	1.07	1.02	0.99	0.93	0.97	1.69	1.25
Debt-free, Cash-free Net Working Capital to Revenue	-11.02%	-11.86%	-8.56%	-8.72%	-12.86%	-25.44%	-20.24%	-21.20%	-17.54%	-11.71%	-18.00%
Debt-free Net Working Capital to Revenue	25.85%	24.53%	25.20%	18.87%	14.24%	6.52%	-3.59%	-12.61%	-13.88%	5.88%	-1.79%
Net Working Capital to Revenue	21.75%	22.76%	17.03%	15.71%	10.89%	3.76%	-4.74%	-12.92%	-13.88%	5.88%	-1.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.44)	($0.75)	($0.20)	($0.15)	($0.05)	($0.15)	($0.14)	($0.13)	($0.14)	($0.08)	($0.10)
Adjusted Weighted Average Basic Shares Outstanding	35.09M	33.67M	35.30M	38.39M	39.50M	38.41M	46.69M	47.81M	48.14M	50.23M	62.74M
Adjusted Diluted Earnings per Share	($0.44)	($0.75)	($0.20)	($0.15)	($0.05)	($0.15)	($0.14)	($0.13)	($0.14)	($0.08)	($0.10)
Adjusted Weighted Average Diluted Shares Outstanding	35.09M	33.67M	35.30M	38.39M	39.50M	38.41M	46.69M	47.81M	48.14M	50.23M	62.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.75)	$0.00	$0.00	$0.00	($0.15)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.19M	0.00	39.39M	39.48M	39.57M	47.78M	47.79M	47.98M	53.91M	56.34M	59.14M
Normalized Net Operating Profit after Tax (NOPAT)	-8.82	-4.59	-4.41	-3.26	-1.78	-2.45	-2.16	-2.25	-2.03	-2.61	-1.96
Normalized NOPAT Margin	-87.60%	-52.23%	-72.49%	-38.92%	-20.47%	-25.96%	-22.68%	-21.89%	-20.52%	-26.91%	-27.11%
Pre Tax Income Margin	-154.01%	-289.43%	-116.22%	-70.65%	-24.36%	-62.37%	-69.35%	-60.97%	-30.91%	-92.05%	-88.49%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-22.08	-71.86	-33.80	-23.08	-11.05	-37.16	-50.49	-36.98	-18.45	-18.09	-26.49
NOPAT to Interest Expense	-13.13	-58.58	-21.70	-13.26	-10.13	-15.88	-16.84	-13.64	-12.91	-12.66	-8.42
EBIT Less CapEx to Interest Expense	-22.13	-71.87	-33.97	-23.08	-11.26	-37.46	-50.65	-37.35	-18.68	-18.26	-26.63
NOPAT Less CapEx to Interest Expense	-13.17	-58.59	-21.87	-13.26	-10.33	-16.19	-16.99	-14.00	-13.14	-12.83	-8.56
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%	0.00%
Augmented Payout Ratio	-0.46%	-0.06%	0.00%	-0.02%	0.00%	0.00%	0.00%	-0.12%	-0.10%	0.00%	0.00%

Financials Breakdown Chart

Kartoon Studios Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Kartoon Studios' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Kartoon Studios' net income appears to be on an upward trend, with a most recent value of -$24.70 million in 2025, rising from -$3.48 million in 2015. The previous period was -$20.94 million in 2024.

Kartoon Studios' total operating income in 2025 was -$12.92 million, based on the following breakdown:

Total Gross Profit: $39.35 million
Total Operating Expenses: $52.27 million

Over the last 10 years, Kartoon Studios' total revenue changed from $907.98 thousand in 2015 to $39.35 million in 2025, a change of 4,234.1%.

Kartoon Studios' total liabilities were at $43.37 million at the end of 2025, a 11.5% decrease from 2024, and a 813.3% increase since 2015.

In the past 10 years, Kartoon Studios' cash and equivalents has ranged from $305.12 thousand in 2019 to $100.46 million in 2020, and is currently $2.94 million as of their latest financial filing in 2025.

Over the last 10 years, Kartoon Studios' book value per share changed from 1.30 in 2015 to 0.49 in 2025, a change of -62.6%.

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

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Kartoon Studios (TOON) Financials

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Kartoon Studios (TOON) Financials

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Kartoon Studios Financials - Frequently Asked Questions

When does Kartoon Studios' financial year end?

How has Kartoon Studios' net income changed over the last 10 years?

What is Kartoon Studios' operating income?

How has Kartoon Studios' revenue changed over the last 10 years?

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How has Kartoon Studios' book value per share changed over the last 10 years?

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