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Emerald (EEX) Financials

Emerald logo
$4.84 +0.18 (+3.76%)
Closing price 06/18/2025 03:59 PM Eastern
Extended Trading
$4.84 +0.01 (+0.21%)
As of 06/18/2025 04:04 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Emerald

Annual Income Statements for Emerald

This table shows Emerald'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
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
Net Income / (Loss) Attributable to Common Shareholders		 20 22 82 -25 -50 -649 -115 92 -50 -11
Consolidated Net Income / (Loss)		 20 22 82 -25 -50 -634 -80 131 -8.00 2.20
Net Income / (Loss) Continuing Operations		 20 22 82 -25 -50 -634 -80 131 -8.00 2.20
Total Pre-Tax Income 		30 36 47 -33 -55 -691 -81 158 -2.90 7.50
Total Operating Income		 82 100 88 -4.30 -25 -671 -65 180 35 47
Total Gross Profit		 223 239 247 269 241 70 88 209 245 399
Total Revenue		 306 324 342 381 361 127 146 326 383 399
Operating Revenue		 306 324 342 381 361 127 146 326 383 399
Total Cost of Revenue		 83 84 95 112 120 58 57 117 138 0.00
Total Operating Expenses		 141 139 159 273 265 740 154 30 211 352
Selling, General & Admin Expense		 93 99 122 122 133 119 143 145 168 170
Depreciation Expense		 39 40 43 47 52 49 48 60 45 28
Other Operating Expenses / (Income)		 0.00 - -6.50 0.00 -6.10 -107 -77 -183 -2.80 146
Impairment Charge		 8.90 0.00 0.00 104 86 680 40 7.90 0.00 7.30
Other Special Charges / (Income)		 - - - - 0.00 0.00 0.40 0.00 0.20 0.00
Total Other Income / (Expense), net		 -52 -64 -41 -29 -30 -21 -16 -22 -37 -39
Interest Expense		 52 64 41 29 30 21 16 25 46 48
Interest & Investment Income		 - - - - - 0.10 0.10 2.70 8.20 8.50
Other Income / (Expense), net		 - - - - - -0.10 -0.10 0.00 0.00 0.00
Income Tax Expense		 10 14 -35 -8.30 -5.00 -58 -1.30 27 5.30 5.30
Preferred Stock Dividends Declared		 - - - 0.00 0.00 16 36 39 42 13
Basic Earnings per Share		 $0.32 $0.36 $1.19 ($0.34) ($0.70) ($9.09) ($1.62) $0.46 ($0.78) ($0.07)
Weighted Average Basic Shares Outstanding		 61.85M 61.86M 68.91M 72.89M 71.72M 71.43M 71.31M 69.00M 63.96M 156.59M
Diluted Earnings per Share		 $0.31 $0.35 $1.13 ($0.34) ($0.70) ($9.09) ($1.62) $0.46 ($0.78) ($0.07)
Weighted Average Diluted Shares Outstanding		 62.52M 63.29M 72.12M 72.89M 71.72M 71.43M 71.31M 69.15M 63.96M 156.59M
Weighted Average Basic & Diluted Shares Outstanding		 - - 68.70M 73.80M 71.38M 72.37M 70.35M 67.88M 63.03M 200.05M

Quarterly Income Statements for Emerald

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 83 12 -3.00 -19 0.00 -29 0.30 -4.80 -11 5.10 15
Consolidated Net Income / (Loss)		 93 22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15
Net Income / (Loss) Continuing Operations		 93 22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15
Total Pre-Tax Income 		121 19 9.80 -13 -12 11 15 -3.50 -15 11 21
Total Operating Income		 127 27 17 -1.00 -1.00 20 24 6.40 -4.70 21 36
Total Gross Profit		 40 34 122 87 73 -36 86 86 73 154 148
Total Revenue		 62 94 122 87 73 102 133 86 73 107 148
Operating Revenue		 62 94 122 87 73 102 133 86 73 107 148
Total Cost of Revenue		 23 60 0.00 0.00 0.00 138 48 0.00 0.00 -48 0.00
Total Operating Expenses		 -88 7.50 106 88 74 -56 62 80 77 134 112
Selling, General & Admin Expense		 49 17 49 42 42 36 56 40 41 35 54
Depreciation Expense		 15 17 14 13 8.80 9.80 7.10 7.00 7.10 7.10 6.40
Other Operating Expenses / (Income)		 -151 -26 43 33 23 -102 -1.00 33 23 91 51
Impairment Charge		 0.00 - - - 0.00 - 0.00 - 6.30 - 0.00
Total Other Income / (Expense), net		 -6.10 -7.20 -7.00 -12 -11 -8.30 -9.80 -9.90 -10 -9.50 -15
Interest Expense		 6.80 9.00 8.00 14 12 12 12 12 12 11 17
Interest & Investment Income		 0.80 1.70 1.10 2.30 1.60 3.20 2.30 2.10 2.20 1.90 2.30
Other Income / (Expense), net		 -0.10 0.10 -0.10 -0.10 -0.10 0.30 0.00 0.00 0.00 - 0.00
Income Tax Expense		 28 -3.10 2.70 -4.40 -22 29 3.50 -0.70 -3.70 6.20 5.40
Preferred Stock Dividends Declared		 9.90 10 10 10 11 11 11 2.00 0.00 - 0.00
Basic Earnings per Share		 $0.42 $0.15 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08
Weighted Average Basic Shares Outstanding		 68.43M 69.00M 67.28M 62.87M 63.59M 63.96M 63.04M 155.92M 203.89M 156.59M 200.60M
Diluted Earnings per Share		 $0.41 $0.16 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08
Weighted Average Diluted Shares Outstanding		 68.64M 69.15M 67.28M 62.87M 63.59M 63.96M 65.21M 155.92M 203.89M 156.59M 200.84M
Weighted Average Basic & Diluted Shares Outstanding		 67.61M 67.88M 62.87M 62.88M 62.89M 63.03M 203.84M 203.93M 202.98M 200.05M 198.86M

Annual Cash Flow Statements for Emerald

This table details how cash moves in and out of Emerald'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
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
Net Change in Cash & Equivalents		 -26 -1.40 -4.00 9.60 -11 286 -64 7.90 -35 -9.40
Net Cash From Operating Activities		 88 93 111 104 68 -37 90 175 40 47
Net Cash From Continuing Operating Activities		 88 93 111 104 68 -37 90 175 40 47
Net Income / (Loss) Continuing Operations		 20 22 82 -25 -50 -634 -80 131 -8.20 2.20
Consolidated Net Income / (Loss)		 20 22 82 -25 -50 -634 -80 131 -8.20 2.20
Depreciation Expense		 39 40 43 47 52 49 48 60 45 28
Amortization Expense		 4.70 5.20 4.60 1.70 1.40 1.50 1.50 1.70 3.00 4.30
Non-Cash Adjustments To Reconcile Net Income		 14 7.60 6.40 111 98 692 57 -13 12 15
Changes in Operating Assets and Liabilities, net		 10 18 -25 -31 -33 -146 64 -4.10 -11 -2.90
Net Cash From Investing Activities		 -87 -52 -96 -75 -17 -37 -132 -48 -21 -25
Net Cash From Continuing Investing Activities		 -87 -52 -96 -75 -17 -37 -132 -48 -21 -25
Purchase of Property, Plant & Equipment		 -1.00 -2.40 -0.90 -0.80 -1.60 -0.90 -1.50 -1.80 -0.60 -1.30
Acquisitions		 -86 -50 -95 -74 -15 -36 -130 -46 -20 -25
Purchase of Investments		 - - - - - 0.00 0.00 -50 0.00 0.00
Sale and/or Maturity of Investments		 - - - - - 0.00 0.00 50 0.00 0.00
Other Investing Activities, net		 - - - 0.00 0.00 - - 0.00 0.00 1.00
Net Cash From Financing Activities		 -26 -43 -19 -20 -62 360 -22 -119 -54 -31
Net Cash From Continuing Financing Activities		 -26 -43 -19 -20 -62 360 -22 -119 -54 -31
Repayment of Debt		 -38 -246 -212 -36 -52 -111 -5.70 -105 -244 -4.20
Repurchase of Common Equity		 0.00 0.00 -6.40 -19 -8.30 -0.90 -12 -10 -17 -14
Payment of Dividends		 0.00 0.00 -15 -21 -21 -5.40 0.00 0.00 -17 -15
Issuance of Debt		 12 208 56 50 16 95 0.00 0.00 239 0.00
Issuance of Common Equity		 0.00 0.10 166 6.50 4.30 0.20 0.10 0.10 0.20 1.50
Other Financing Activities, net		 0.00 -4.60 -7.30 0.00 -1.00 -0.80 -4.20 -4.40 -16 0.00
Cash Interest Paid		 50 46 35 29 29 19 14 23 38 44
Cash Income Taxes Paid		 1.20 3.70 3.90 15 12 1.10 0.20 26 6.90 4.60

Quarterly Cash Flow Statements for Emerald

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 184 -127 -22 -13 -4.40 3.90 -17 6.40 -4.30 5.90 82
Net Cash From Operating Activities		 154 -24 8.90 7.30 8.50 16 7.30 9.80 9.10 21 13
Net Cash From Continuing Operating Activities		 154 -24 8.90 7.30 8.50 16 7.30 9.80 9.10 21 13
Net Income / (Loss) Continuing Operations		 93 22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15
Consolidated Net Income / (Loss)		 93 22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15
Depreciation Expense		 15 17 14 13 8.80 9.80 7.10 7.00 7.10 7.10 6.40
Amortization Expense		 0.40 0.70 0.40 0.50 1.00 1.10 1.10 1.10 1.10 1.00 0.70
Non-Cash Adjustments To Reconcile Net Income		 -0.80 -20 3.10 4.20 0.90 3.60 4.80 -0.10 7.90 2.30 6.60
Changes in Operating Assets and Liabilities, net		 46 -43 -15 -2.20 -13 19 -17 4.60 4.10 5.10 -16
Net Cash From Investing Activities		 38 -2.80 -13 -2.70 -3.00 -2.10 -14 -2.80 -5.90 -2.20 -21
Net Cash From Continuing Investing Activities		 38 -2.80 -13 -2.70 -3.00 -2.10 -14 -2.80 -5.90 -2.20 -21
Purchase of Property, Plant & Equipment		 -0.40 -0.30 -0.30 -0.20 - -0.10 -0.30 -0.20 -0.10 -0.70 -0.20
Acquisitions		 -11 -2.50 -13 -2.50 -3.00 -2.00 -14 -3.60 -5.80 -1.50 -21
Other Investing Activities, net		 - - - - - - 0.00 - - - 0.00
Net Cash From Financing Activities		 -7.30 -101 -18 -17 -9.90 -9.60 -11 -0.60 -7.50 -13 91
Net Cash From Continuing Financing Activities		 -7.30 -101 -18 -17 -9.90 -9.60 -11 -0.60 -7.50 -13 91
Repayment of Debt		 -1.40 -100 -0.60 -240 -1.40 -1.10 -1.10 -1.00 -1.00 -1.10 -171
Repurchase of Common Equity		 -5.90 -0.20 -17 - - - -1.80 - -3.60 -8.40 -8.80
Payment of Dividends		 - - 0.00 - -8.60 -8.60 -8.60 - -3.10 -3.00 -3.00
Issuance of Debt		 - - - - - - 0.00 - - - 275
Issuance of Common Equity		 - - 0.00 - 0.10 0.10 0.90 0.40 0.20 - 0.10
Other Financing Activities, net		 - - - - - - 0.00 - - - -1.70

Annual Balance Sheets for Emerald

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 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
Total Assets		 1,573 1,638 1,580 1,472 1,054 1,062 1,098 1,054 1,049
Total Current Assets		 96 94 103 94 352 290 332 311 307
Cash & Equivalents		 15 11 21 9.60 295 231 239 204 195
Accounts Receivable		 58 63 63 60 31 46 75 85 83
Prepaid Expenses		 23 20 20 24 8.50 13 18 22 30
Plant, Property, & Equipment, net		 3.80 3.80 3.70 4.20 3.90 3.70 2.20 1.50 1.80
Total Noncurrent Assets		 1,473 1,541 1,473 1,374 698 769 764 742 740
Goodwill		 930 994 1,037 980 404 514 546 554 574
Intangible Assets		 541 545 435 374 275 237 205 175 156
Other Noncurrent Operating Assets		 1.70 1.90 1.50 20 19 18 14 13 10
Total Liabilities & Shareholders' Equity		 1,573 1,638 1,580 1,472 1,054 1,062 1,098 1,054 1,049
Total Liabilities		 1,045 877 872 832 660 750 659 649 663
Total Current Liabilities		 209 223 269 229 116 192 222 230 241
Short-Term Debt		 8.80 5.70 46 16 5.70 5.70 0.00 4.20 4.20
Accounts Payable		 28 25 31 22 31 48 58 47 41
Current Deferred Revenue		 172 193 192 187 49 118 151 174 191
Current Deferred & Payable Income Tax Liabilities		 - - - - - 0.00 1.20 0.20 0.00
Other Current Liabilities		 - - - 4.10 30 20 12 4.80 5.90
Total Noncurrent Liabilities		 836 653 603 602 544 558 437 419 422
Long-Term Debt		 693 549 524 520 515 511 414 399 399
Noncurrent Deferred & Payable Income Tax Liabilities		 140 100 75 60 1.90 1.50 1.80 3.10 4.90
Other Noncurrent Operating Liabilities		 2.80 4.70 3.50 23 27 45 21 17 18
Commitments & Contingencies		 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - 0.00 398 434 472 497 0.00
Total Equity & Noncontrolling Interests		 528 761 708 640 -3.80 -121 -33 -93 386
Total Preferred & Common Equity		 528 761 708 640 -3.80 -121 -33 -93 386
Total Common Equity		 528 761 708 640 -3.80 -121 -33 -93 386
Common Stock		 511 678 690 702 691 654 611 560 1,036
Retained Earnings		 17 83 18 -62 -695 -775 -644 -652 -650

Quarterly Balance Sheets for Emerald

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

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 1,115 1,251 1,101 1,073 1,081 1,080 1,063 1,060 1,183
Total Current Assets		 329 468 333 315 328 326 311 312 414
Cash & Equivalents		 182 366 217 205 200 187 193 189 277
Accounts Receivable		 80 83 105 92 79 123 94 86 122
Prepaid Expenses		 18 19 11 18 49 17 24 37 15
Plant, Property, & Equipment, net		 4.20 4.00 2.00 1.90 1.70 1.60 1.50 1.70 1.70
Total Noncurrent Assets		 781 779 766 757 751 752 750 746 768
Goodwill		 538 546 554 554 554 566 568 573 602
Intangible Assets		 227 217 198 188 183 175 171 162 156
Other Noncurrent Operating Assets		 17 17 13 15 14 12 11 10 10
Total Liabilities & Shareholders' Equity		 1,115 1,251 1,101 1,073 1,081 1,080 1,063 1,060 1,183
Total Liabilities		 787 835 669 648 652 672 655 669 791
Total Current Liabilities		 257 303 230 226 232 247 233 247 260
Short-Term Debt		 5.70 5.70 - 4.20 4.20 4.20 4.20 4.20 3.90
Accounts Payable		 66 65 55 50 46 61 48 46 61
Current Deferred Revenue		 144 167 162 162 176 175 176 190 185
Current Deferred & Payable Income Tax Liabilities		 - 28 2.30 1.10 0.00 1.90 0.00 0.00 1.90
Other Current Liabilities		 42 38 11 7.60 5.30 4.90 5.10 5.80 8.10
Total Noncurrent Liabilities		 530 531 439 422 420 425 422 422 531
Long-Term Debt		 509 508 414 399 399 399 399 399 503
Noncurrent Deferred & Payable Income Tax Liabilities		 1.70 2.00 2.80 2.60 2.40 5.50 5.70 5.70 5.40
Other Noncurrent Operating Liabilities		 7.50 22 22 21 19 20 18 18 23
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 453 462 483 493 495 499 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -125 -46 -51 -68 -66 -91 408 391 392
Total Preferred & Common Equity		 -125 -46 -51 -68 -66 -91 408 391 392
Total Common Equity		 -125 -46 -51 -68 -66 -91 408 391 392
Common Stock		 635 620 586 578 569 551 1,052 1,046 1,027
Retained Earnings		 -760 -667 -637 -645 -634 -641 -644 -655 -635

Annual Metrics And Ratios for Emerald

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
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
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 5.65% 5.56% 11.41% -5.20% -64.70% 14.21% 123.99% 17.46% 4.18%
EBITDA Growth		 0.00% 15.83% -6.66% -67.48% -35.07% -2,262.37% 97.47% 1,635.03% -65.68% -3.99%
EBIT Growth		 0.00% 22.59% -12.25% -104.88% -474.42% -2,615.38% 90.34% 377.47% -80.70% 34.87%
NOPAT Growth		 0.00% 14.69% 150.10% -101.95% -474.42% -2,614.98% 90.35% 428.65% -83.68% -43.48%
Net Income Growth		 0.00% 13.27% 268.47% -130.68% -99.20% -1,167.20% 87.42% 264.12% -106.12% 127.50%
EPS Growth		 0.00% 12.90% 222.86% -130.09% -105.88% -1,198.57% 82.18% 128.40% -269.57% 91.03%
Operating Cash Flow Growth		 0.00% 5.92% 19.14% -6.23% -34.74% -154.72% 342.59% 94.56% -76.98% 16.13%
Free Cash Flow Firm Growth		 0.00% 0.00% 105.58% -31.99% 69.92% 2.65% -130.62% 668.82% -73.63% -33.80%
Invested Capital Growth		 0.00% 0.00% 7.38% -3.59% -7.29% -46.81% -3.53% 2.64% -1.76% -1.57%
Revenue Q/Q Growth		 0.00% 0.00% 0.32% 7.18% -3.24% -20.42% 24.79% 19.20% 2.11% 1.35%
EBITDA Q/Q Growth		 0.00% 0.00% -0.94% -68.36% 510.00% 6.86% 59.33% 18.89% -13.31% -2.70%
EBIT Q/Q Growth		 0.00% 0.00% -1.29% -104.63% 59.04% 6.55% 26.03% 22.48% -15.57% 1.30%
NOPAT Q/Q Growth		 0.00% 0.00% 191.92% -101.98% 59.04% 6.56% 26.14% 30.34% -90.84% 110.93%
Net Income Q/Q Growth		 0.00% 0.00% 371.01% -123.84% 30.36% 5.14% 23.88% 31.46% -124.92% 110.58%
EPS Q/Q Growth		 0.00% 0.00% 413.64% -124.46% 26.32% 3.91% 16.06% 1,433.33% -358.82% 86.79%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 30.20% -5.72% -22.07% -40.00% 114.80% -30.63% 3,563.64% 11.96%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -41.85% 20.42% -14.09% -150.87% 54.88% -82.16% 123.53%
Invested Capital Q/Q Growth		 0.00% 0.00% 3.44% -5.99% -5.50% -3.47% 11.79% 8.98% -4.53% -1.85%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 72.78% 73.93% 72.20% 70.55% 66.69% 54.79% 60.76% 64.25% 64.05% 100.00%
EBITDA Margin		 41.02% 44.98% 39.77% 11.61% 7.95% -487.13% -10.79% 73.95% 21.60% 19.91%
Operating Margin		 26.73% 31.02% 25.78% -1.13% -6.84% -526.37% -44.47% 55.17% 9.06% 11.74%
EBIT Margin		 26.73% 31.02% 25.78% -1.13% -6.84% -526.45% -44.54% 55.17% 9.06% 11.74%
Profit (Net Income) Margin		 6.40% 6.86% 23.94% -6.59% -13.85% -497.33% -54.78% 40.14% -2.09% 0.55%
Tax Burden Percent		 65.55% 61.33% 174.79% 75.15% 90.91% 91.67% 98.40% 82.78% 275.86% 29.33%
Interest Burden Percent		 36.51% 36.06% 53.12% 776.74% 222.67% 103.06% 125.00% 87.88% -8.36% 16.03%
Effective Tax Rate		 34.45% 38.67% -74.79% 0.00% 0.00% 0.00% 0.00% 17.22% 0.00% 70.67%
Return on Invested Capital (ROIC)		 0.00% 10.14% 12.22% -0.24% -1.43% -52.56% -7.43% 24.55% 3.99% 2.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -1.32% 0.49% -4.28% -7.51% -96.25% -20.90% 16.71% -13.30% -3.38%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -1.72% 0.47% -3.18% -5.99% -69.91% -15.10% 10.22% -5.89% -1.74%
Return on Equity (ROE)		 0.00% 8.41% 12.69% -3.42% -7.42% -122.47% -22.53% 34.78% -1.90% 0.56%
Cash Return on Invested Capital (CROIC)		 0.00% -189.86% 5.11% 3.42% 6.14% 8.55% -3.84% 21.95% 5.76% 3.88%
Operating Return on Assets (OROA)		 0.00% 6.38% 5.49% -0.27% -1.62% -53.10% -6.12% 16.64% 3.22% 4.45%
Return on Assets (ROA)		 0.00% 1.41% 5.10% -1.56% -3.28% -50.16% -7.53% 12.11% -0.74% 0.21%
Return on Common Equity (ROCE)		 0.00% 8.41% 12.69% -3.42% -7.42% -75.33% 3.98% -7.12% 0.28% 0.21%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.21% 10.75% -3.54% -7.81% 0.00% 65.87% -395.17% 8.65% 0.57%
Net Operating Profit after Tax (NOPAT)		 54 62 154 -3.01 -17 -469 -45 149 24 14
NOPAT Margin		 17.52% 19.02% 45.06% -0.79% -4.79% -368.46% -31.13% 45.67% 6.35% 3.44%
Net Nonoperating Expense Percent (NNEP)		 0.00% 11.46% 11.73% 4.04% 6.08% 43.69% 13.47% 7.84% 17.29% 5.67%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 39.09% 7.83% 1.74%
Cost of Revenue to Revenue		 27.22% 26.07% 27.80% 29.45% 33.31% 45.21% 39.24% 35.75% 35.95% 0.00%
SG&A Expenses to Revenue		 30.39% 30.55% 35.67% 31.99% 36.96% 93.09% 98.28% 44.49% 43.97% 42.73%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 46.05% 42.91% 46.42% 71.68% 73.54% 581.16% 105.50% 9.08% 55.04% 88.26%
Earnings before Interest and Taxes (EBIT)		 82 100 88 -4.30 -25 -671 -65 180 35 47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 126 146 136 44 29 -621 -16 241 83 79
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.82 1.23 1.16 0.00 0.00 0.00 0.00 2.53
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 4.07 2.28 2.06 3.03 1.91 0.73 0.97 2.44
Price to Earnings (P/E)		 0.00 0.00 16.98 0.00 0.00 0.00 0.00 2.58 0.00 0.00
Dividend Yield		 0.00% 0.00% 1.09% 2.42% 2.85% 5.55% 0.00% 0.00% 0.00% 0.62%
Earnings Yield		 0.00% 0.00% 5.89% 0.00% 0.00% 0.00% 0.00% 38.83% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 1.48 1.13 1.09 1.63 1.67 1.44 1.77 1.99
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 5.66 3.73 3.52 7.93 6.85 2.71 2.79 2.97
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 14.22 32.11 44.29 0.00 0.00 3.67 12.92 14.89
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 21.93 0.00 0.00 0.00 0.00 4.92 30.78 25.27
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 12.55 0.00 0.00 0.00 0.00 5.94 43.98 86.14
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 17.44 13.66 18.75 0.00 11.08 5.05 26.51 25.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 30.01 32.41 17.08 13.22 0.00 6.65 30.44 50.91
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 1.33 0.73 0.80 0.84 1.32 1.65 0.94 1.00 1.04
Long-Term Debt to Equity		 0.00 1.31 0.72 0.74 0.81 1.31 1.63 0.94 0.99 1.03
Financial Leverage		 0.00 1.30 0.95 0.74 0.80 0.73 0.72 0.61 0.44 0.51
Leverage Ratio		 0.00 2.98 2.49 2.19 2.26 2.44 2.99 2.87 2.55 2.66
Compound Leverage Factor		 0.00 1.07 1.32 17.01 5.04 2.52 3.74 2.52 -0.21 0.43
Debt to Total Capital		 0.00% 57.09% 42.13% 44.59% 45.54% 56.91% 62.28% 48.51% 49.89% 51.07%
Short-Term Debt to Total Capital		 0.00% 0.72% 0.43% 3.58% 1.34% 0.62% 0.69% 0.00% 0.52% 0.53%
Long-Term Debt to Total Capital		 0.00% 56.38% 41.70% 41.01% 44.21% 56.29% 61.59% 48.51% 49.37% 50.53%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 43.51% 52.31% 55.37% 61.56% 0.00%
Common Equity to Total Capital		 0.00% 42.91% 57.87% 55.41% 54.46% -0.42% -14.59% -3.88% -11.46% 48.93%
Debt to EBITDA		 0.00 4.82 4.08 12.89 18.66 -0.84 -32.90 1.72 4.87 5.07
Net Debt to EBITDA		 0.00 4.72 4.00 12.43 18.32 -0.36 -18.18 0.73 2.40 2.62
Long-Term Debt to EBITDA		 0.00 4.76 4.04 11.86 18.11 -0.83 -32.54 1.72 4.82 5.02
Debt to NOPAT		 0.00 11.40 3.60 -189.34 -30.97 -1.11 -11.41 2.78 16.59 29.33
Net Debt to NOPAT		 0.00 11.16 3.53 -182.52 -30.41 -0.48 -6.30 1.17 8.18 15.14
Long-Term Debt to NOPAT		 0.00 11.26 3.56 -174.15 -30.06 -1.10 -11.28 2.78 16.41 29.03
Altman Z-Score		 0.00 0.00 1.31 0.72 0.56 -2.28 -0.75 0.35 0.04 0.62
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 38.49% 117.64% 120.49% 114.88% 62.88%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 0.46 0.42 0.38 0.41 3.05 1.51 1.49 1.35 1.27
Quick Ratio		 0.00 0.35 0.33 0.31 0.30 2.82 1.45 1.41 1.26 1.15
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -1,153 64 44 74 76 -23 133 35 23
Operating Cash Flow to CapEx		 8,780.00% 3,875.00% 12,311.11% 12,987.50% 4,237.50% -4,122.22% 6,000.00% 9,727.78% 6,716.67% 3,600.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -17.96 1.56 1.50 2.46 3.71 -1.47 5.43 0.77 0.49
Operating Cash Flow to Interest Expense		 1.69 1.45 2.68 3.57 2.24 -1.80 5.66 7.15 0.88 0.98
Operating Cash Flow Less CapEx to Interest Expense		 1.67 1.41 2.66 3.54 2.18 -1.84 5.57 7.07 0.87 0.95
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.21 0.21 0.24 0.24 0.10 0.14 0.30 0.36 0.38
Accounts Receivable Turnover		 0.00 5.62 5.68 6.07 5.88 2.81 3.77 5.37 4.78 4.76
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 85.18 89.92 101.52 91.37 31.46 38.29 110.47 206.92 241.70
Accounts Payable Turnover		 0.00 2.99 3.57 4.04 4.56 2.16 1.44 2.19 2.63 0.00
Days Sales Outstanding (DSO)		 0.00 64.95 64.25 60.11 62.10 130.07 96.71 67.93 76.33 76.74
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 121.96 102.20 90.35 80.01 168.88 253.77 166.68 138.86 0.00
Cash Conversion Cycle (CCC)		 0.00 -57.01 -37.95 -30.24 -17.92 -38.81 -157.07 -98.75 -62.54 76.74
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 1,215 1,305 1,258 1,166 620 598 614 603 594
Invested Capital Turnover		 0.00 0.53 0.27 0.30 0.30 0.14 0.24 0.54 0.63 0.67
Increase / (Decrease) in Invested Capital		 0.00 1,215 90 -47 -92 -546 -22 16 -11 -9.50
Enterprise Value (EV)		 0.00 0.00 1,932 1,419 1,271 1,010 997 884 1,068 1,183
Market Capitalization		 0.00 0.00 1,389 870 745 386 278 237 372 975
Book Value per Share		 $0.00 $8.53 $10.54 $9.68 $8.96 ($0.05) ($1.73) ($0.49) ($1.47) $1.90
Tangible Book Value per Share		 $0.00 ($15.26) ($10.77) ($10.43) ($10.00) ($9.56) ($12.43) ($11.59) ($13.06) ($1.69)
Total Capital		 0.00 1,230 1,315 1,278 1,176 916 830 853 808 789
Total Debt		 0.00 702 554 570 535 521 517 414 403 403
Total Long-Term Debt		 0.00 693 549 524 520 515 511 414 399 399
Net Debt		 0.00 687 543 549 526 226 285 175 199 208
Capital Expenditures (CapEx)		 1.00 2.40 0.90 0.80 1.60 0.90 1.50 1.80 0.60 1.30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -119 -135 -140 -130 -53 -127 -130 -119 -125
Debt-free Net Working Capital (DFNWC)		 0.00 -104 -124 -120 -120 242 104 110 85 70
Net Working Capital (NWC)		 0.00 -113 -130 -166 -136 237 98 110 81 66
Net Nonoperating Expense (NNE)		 34 39 72 22 33 164 34 18 32 12
Net Nonoperating Obligations (NNO)		 0.00 687 543 549 526 226 285 175 199 208
Total Depreciation and Amortization (D&A)		 44 45 48 49 53 50 49 61 48 33
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -36.82% -39.51% -36.88% -35.88% -41.52% -87.35% -39.74% -31.14% -31.34%
Debt-free Net Working Capital to Revenue		 0.00% -32.22% -36.32% -31.49% -33.22% 190.27% 71.55% 33.63% 22.20% 17.50%
Net Working Capital to Revenue		 0.00% -34.94% -37.99% -43.50% -37.57% 185.79% 67.63% 33.63% 21.11% 16.45%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.32 $0.36 $1.19 ($0.34) ($0.70) $0.00 ($1.59) $0.46 ($0.78) ($0.07)
Adjusted Weighted Average Basic Shares Outstanding		 61.85M 61.86M 68.91M 72.89M 71.72M 0.00 71.31M 69.00M 63.96M 156.59M
Adjusted Diluted Earnings per Share		 $0.31 $0.35 $1.13 ($0.34) ($0.70) $0.00 ($1.59) $0.46 ($0.78) ($0.07)
Adjusted Weighted Average Diluted Shares Outstanding		 62.52M 63.29M 72.12M 72.89M 71.72M 0.00 71.31M 69.15M 63.96M 156.59M
Adjusted Basic & Diluted Earnings per Share		 $0.32 $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		 0.00 0.00 72.78M 71.84M 71.38M 0.00 70.35M 67.88M 63.03M 200.05M
Normalized Net Operating Profit after Tax (NOPAT)		 60 62 62 70 43 6.72 -17 155 24 38
Normalized NOPAT Margin		 19.43% 19.02% 18.05% 18.39% 11.91% 5.27% -11.74% 47.68% 6.38% 9.50%
Pre Tax Income Margin		 9.76% 11.18% 13.70% -8.77% -15.24% -542.54% -55.67% 48.48% -0.76% 1.88%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 1.58 1.56 2.13 -0.15 -0.82 -32.56 -4.08 7.34 0.76 0.98
NOPAT to Interest Expense		 1.03 0.96 3.73 -0.10 -0.57 -22.79 -2.85 6.08 0.53 0.29
EBIT Less CapEx to Interest Expense		 1.56 1.53 2.11 -0.18 -0.87 -32.60 -4.17 7.27 0.75 0.95
NOPAT Less CapEx to Interest Expense		 1.01 0.92 3.71 -0.13 -0.62 -22.83 -2.94 6.00 0.52 0.26
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 18.58% -83.67% -42.60% -0.85% 0.00% 0.00% -215.00% 668.18%
Augmented Payout Ratio		 0.00% 0.00% 26.41% -160.96% -59.20% -0.99% -15.56% 7.95% -426.25% 1,295.45%

Quarterly Metrics And Ratios for Emerald

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -18.43% 127.74% 24.16% 21.15% 16.19% 8.44% 9.08% -0.58% 0.14% 5.22% 10.72%
EBITDA Growth		 2,535.19% 711.11% -9.47% -41.71% -93.89% -29.00% 6.21% 17.89% -59.77% -7.07% 32.00%
EBIT Growth		 1,891.55% 509.23% -13.02% -116.18% -100.86% -24.06% 45.51% 681.82% -327.27% 2.97% 47.33%
NOPAT Growth		 2,065.41% 775.97% -39.76% 67.65% -100.72% -201.59% 51.46% 740.00% -370.00% 130.04% 43.54%
Net Income Growth		 1,133.33% 351.69% -55.90% -1,057.14% -88.49% -179.02% 54.93% 65.43% -203.74% 128.81% 39.09%
EPS Growth		 264.00% 159.26% -200.00% -93.33% -100.00% -381.25% 100.00% 89.66% 0.00% 102.22% 0.00%
Operating Cash Flow Growth		 1,498.96% -143.95% -73.03% -40.16% -94.46% 166.10% -17.98% 34.25% 7.06% 32.05% 72.60%
Free Cash Flow Firm Growth		 -32.20% -13.80% -154.05% 97.21% -199.60% -236.71% 271.43% 622.86% 134.17% 192.38% 30.56%
Invested Capital Growth		 5.29% 2.64% 4.18% 0.23% 12.14% -1.76% -0.62% -1.04% -4.26% -1.57% -0.43%
Revenue Q/Q Growth		 -12.61% 50.00% 30.66% -29.27% -16.19% 40.00% 31.43% -35.53% -15.58% 47.11% 38.30%
EBITDA Q/Q Growth		 574.41% -69.22% -30.14% -59.80% -29.27% 257.47% 4.50% -55.38% -75.86% 725.71% 48.44%
EBIT Q/Q Growth		 1,770.59% -79.09% -37.22% -106.59% 0.00% 1,936.36% 20.30% -73.66% -173.44% 542.55% 72.12%
NOPAT Q/Q Growth		 4,614.65% -68.51% -60.43% -105.75% 0.00% -4,363.78% 159.00% -75.70% -173.44% 385.34% 181.87%
Net Income Q/Q Growth		 13,385.71% -75.91% -68.30% -214.08% 232.10% -265.42% 161.45% -125.45% -296.43% 145.95% 200.00%
EPS Q/Q Growth		 373.33% -60.98% -125.00% -625.00% 100.00% 0.00% 100.00% 0.00% -66.67% 120.00% 700.00%
Operating Cash Flow Q/Q Growth		 1,158.20% -115.37% 137.71% -17.98% 16.44% 83.53% -53.21% 34.25% -7.14% 126.37% -38.84%
Free Cash Flow Firm Q/Q Growth		 192.18% -78.44% -187.11% 83.88% -3,190.48% 70.41% 209.23% -50.84% 115.03% -20.00% 54.39%
Invested Capital Q/Q Growth		 -9.45% 8.98% 2.34% -0.76% 1.31% -4.53% 3.53% -1.18% -1.98% -1.85% 4.73%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 63.62% 36.32% 100.00% 100.00% 100.00% -35.57% 64.39% 100.00% 100.00% 144.48% 100.00%
EBITDA Margin		 228.04% 46.79% 25.02% 14.22% 12.00% 30.64% 24.36% 16.86% 4.82% 27.06% 29.05%
Operating Margin		 204.01% 28.31% 13.74% -1.16% -1.38% 19.61% 18.22% 7.44% -6.47% 19.48% 24.24%
EBIT Margin		 203.85% 28.42% 13.65% -1.27% -1.52% 19.90% 18.22% 7.44% -6.47% 19.48% 24.24%
Profit (Net Income) Margin		 149.04% 23.93% 5.81% -9.36% 14.76% -17.44% 8.25% -3.26% -15.29% 4.78% 10.36%
Tax Burden Percent		 76.73% 116.06% 72.45% 64.80% -92.24% -155.26% 75.86% 80.00% 75.00% 45.13% 73.91%
Interest Burden Percent		 95.28% 72.56% 58.68% 1,136.36% 1,054.55% 56.44% 59.67% -54.69% 314.89% 54.33% 57.82%
Effective Tax Rate		 23.27% -16.06% 27.55% 0.00% 0.00% 257.02% 24.14% 0.00% 0.00% 54.87% 26.09%
Return on Invested Capital (ROIC)		 77.91% 17.67% 5.65% -0.47% -0.61% -19.36% 8.69% 3.30% -2.88% 5.86% 11.87%
ROIC Less NNEP Spread (ROIC-NNEP)		 75.32% 14.03% 3.49% -3.48% 5.91% -12.11% 5.09% -0.27% -6.63% 3.75% 6.87%
Return on Net Nonoperating Assets (RNNOA)		 36.90% 8.59% 2.15% -2.28% 2.45% -5.36% 2.50% -0.13% -3.37% 1.93% 3.83%
Return on Equity (ROE)		 114.81% 26.25% 7.81% -2.75% 1.84% -24.72% 11.19% 3.17% -6.25% 7.78% 15.70%
Cash Return on Invested Capital (CROIC)		 15.64% 21.95% 18.91% 22.38% 32.92% 5.76% -15.47% 1.79% -15.96% 3.88% 4.87%
Operating Return on Assets (OROA)		 48.87% 8.57% 4.31% -0.42% -0.49% 7.08% 6.58% 2.74% -2.38% 7.39% 8.85%
Return on Assets (ROA)		 35.73% 7.22% 1.83% -3.12% 4.75% -6.20% 2.98% -1.20% -5.62% 1.81% 3.78%
Return on Common Equity (ROCE)		 -23.29% -5.38% -1.68% 0.70% -0.24% 3.68% -1.89% 1.30% -2.48% 2.89% 5.91%
Return on Equity Simple (ROE_SIMPLE)		 -215.84% 0.00% -239.29% -169.48% -48.86% 0.00% 4.74% 0.25% -5.32% 0.00% 1.66%
Net Operating Profit after Tax (NOPAT)		 98 31 12 -0.70 -0.70 -31 18 4.48 -3.29 9.39 26
NOPAT Margin		 156.54% 32.86% 9.95% -0.81% -0.97% -30.78% 13.82% 5.21% -4.53% 8.79% 17.92%
Net Nonoperating Expense Percent (NNEP)		 2.59% 3.63% 2.16% 3.00% -6.52% -7.25% 3.60% 3.57% 3.75% 2.11% 5.01%
Return On Investment Capital (ROIC_SIMPLE)		 - 8.08% - - - -10.07% - - - 1.19% 2.94%
Cost of Revenue to Revenue		 36.38% 63.68% 0.00% 0.00% 0.00% 135.57% 35.61% 0.00% 0.00% -44.48% 0.00%
SG&A Expenses to Revenue		 78.04% 18.59% 39.90% 48.32% 57.38% 35.57% 41.60% 45.93% 56.20% 32.40% 36.63%
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		 -140.38% 8.01% 86.26% 101.16% 101.38% -54.98% 46.18% 92.56% 106.47% 125.00% 75.76%
Earnings before Interest and Taxes (EBIT)		 127 27 17 -1.10 -1.10 20 24 6.40 -4.70 21 36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 142 44 31 12 8.70 31 33 15 3.50 29 43
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.84 2.60 2.53 2.01
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.85 0.73 0.72 0.70 0.76 0.97 1.09 2.94 2.59 2.44 1.90
Price to Earnings (P/E)		 3.79 2.58 3.07 3.48 0.00 0.00 0.00 0.00 0.00 0.00 174.71
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.30% 0.62% 1.15%
Earnings Yield		 26.40% 38.83% 32.61% 28.75% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.57%
Enterprise Value to Invested Capital (EV/IC)		 1.50 1.44 1.48 1.52 1.55 1.77 1.83 2.21 2.04 1.99 1.63
Enterprise Value to Revenue (EV/Rev)		 3.08 2.71 2.66 2.60 2.62 2.79 2.90 3.47 3.13 2.97 2.46
Enterprise Value to EBITDA (EV/EBITDA)		 4.16 3.67 3.92 4.14 10.28 12.92 13.51 15.74 15.09 14.89 11.31
Enterprise Value to EBIT (EV/EBIT)		 5.74 4.92 5.25 5.60 23.87 30.78 27.03 27.43 26.66 25.27 17.43
Enterprise Value to NOPAT (EV/NOPAT)		 7.38 5.94 6.57 6.73 3.70 43.98 0.00 297.45 0.00 86.14 36.73
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.34 5.05 6.17 6.49 891.80 26.51 29.54 33.16 29.46 25.27 19.50
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.81 6.65 7.99 6.80 4.99 30.44 0.00 123.15 0.00 50.91 33.46
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.23 0.94 0.96 0.95 0.94 1.00 0.99 0.99 1.03 1.04 1.29
Long-Term Debt to Equity		 1.22 0.94 0.96 0.94 0.93 0.99 0.98 0.98 1.02 1.03 1.28
Financial Leverage		 0.49 0.61 0.62 0.65 0.41 0.44 0.49 0.49 0.51 0.51 0.56
Leverage Ratio		 3.09 2.87 2.91 2.91 2.76 2.55 2.60 2.56 2.61 2.66 2.83
Compound Leverage Factor		 2.95 2.08 1.71 33.01 29.08 1.44 1.55 -1.40 8.22 1.45 1.63
Debt to Total Capital		 55.22% 48.51% 48.97% 48.66% 48.43% 49.89% 49.65% 49.70% 50.74% 51.07% 56.37%
Short-Term Debt to Total Capital		 0.61% 0.00% 0.00% 0.51% 0.50% 0.52% 0.52% 0.52% 0.53% 0.53% 0.43%
Long-Term Debt to Total Capital		 54.60% 48.51% 48.97% 48.15% 47.92% 49.37% 49.14% 49.19% 50.21% 50.53% 55.94%
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		 49.74% 55.37% 57.05% 59.49% 59.47% 61.56% 61.52% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -4.96% -3.88% -6.02% -8.15% -7.89% -11.46% -11.18% 50.30% 49.26% 48.93% 43.63%
Debt to EBITDA		 2.53 1.72 1.74 1.76 4.22 4.87 4.76 4.64 4.94 5.07 5.64
Net Debt to EBITDA		 0.73 0.73 0.83 0.87 2.12 2.40 2.55 2.41 2.62 2.62 2.56
Long-Term Debt to EBITDA		 2.50 1.72 1.74 1.74 4.18 4.82 4.71 4.59 4.88 5.02 5.60
Debt to NOPAT		 4.49 2.78 2.92 2.86 1.52 16.59 -4.00 87.71 -3.21 29.33 18.31
Net Debt to NOPAT		 1.29 1.17 1.39 1.41 0.76 8.18 -2.14 45.64 -1.70 15.14 8.31
Long-Term Debt to NOPAT		 4.44 2.78 2.92 2.83 1.50 16.41 -3.95 86.79 -3.17 29.03 18.17
Altman Z-Score		 0.13 -0.11 -0.10 -0.17 -0.11 0.00 0.08 0.69 0.48 0.54 0.45
Noncontrolling Interest Sharing Ratio		 120.29% 120.49% 121.50% 125.54% 113.22% 114.88% 116.86% 59.17% 60.33% 62.88% 62.35%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.54 1.49 1.45 1.39 1.42 1.35 1.32 1.34 1.27 1.27 1.59
Quick Ratio		 1.48 1.41 1.40 1.32 1.20 1.26 1.25 1.23 1.12 1.15 1.53
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 69 15 -13 -2.10 -69 -20 22 11 24 19 29
Operating Cash Flow to CapEx		 38,375.00% -7,866.67% 2,966.67% 3,650.00% 0.00% 15,600.00% 2,433.33% 4,900.00% 9,100.00% 2,942.86% 6,300.00%
Free Cash Flow to Firm to Interest Expense		 10.20 1.66 -1.63 -0.15 -5.71 -1.73 1.85 0.92 1.92 1.66 1.68
Operating Cash Flow to Interest Expense		 22.57 -2.62 1.11 0.53 0.70 1.32 0.60 0.82 0.74 1.81 0.72
Operating Cash Flow Less CapEx to Interest Expense		 22.51 -2.66 1.08 0.52 0.70 1.31 0.58 0.80 0.73 1.75 0.71
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.24 0.30 0.32 0.33 0.32 0.36 0.36 0.37 0.37 0.38 0.37
Accounts Receivable Turnover		 4.49 5.37 3.66 4.24 4.65 4.78 3.46 4.23 4.77 4.76 3.38
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		 70.10 110.47 109.28 119.61 131.54 206.92 218.83 231.41 231.47 241.70 250.36
Accounts Payable Turnover		 1.22 2.19 1.43 1.41 1.07 2.63 3.20 3.76 4.00 0.00 0.00
Days Sales Outstanding (DSO)		 81.24 67.93 99.68 86.00 78.57 76.33 105.59 86.33 76.52 76.74 108.15
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)		 298.98 166.68 255.90 258.12 340.50 138.86 114.17 97.12 91.20 0.00 0.00
Cash Conversion Cycle (CCC)		 -217.74 -98.75 -156.22 -172.12 -261.93 -62.54 -8.58 -10.78 -14.68 76.74 108.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 564 614 629 624 632 603 625 617 605 594 622
Invested Capital Turnover		 0.50 0.54 0.57 0.59 0.63 0.63 0.63 0.63 0.64 0.67 0.66
Increase / (Decrease) in Invested Capital		 28 16 25 1.40 68 -11 -3.90 -6.50 -27 -9.50 -2.70
Enterprise Value (EV)		 843 884 931 948 981 1,068 1,143 1,366 1,231 1,183 1,016
Market Capitalization		 233 237 252 257 283 372 428 1,156 1,018 975 786
Book Value per Share		 ($0.67) ($0.49) ($0.75) ($1.07) ($1.04) ($1.47) ($1.44) $2.00 $1.92 $1.90 $1.96
Tangible Book Value per Share		 ($11.69) ($11.59) ($11.83) ($12.88) ($12.76) ($13.06) ($13.19) ($1.63) ($1.69) ($1.69) ($1.83)
Total Capital		 930 853 846 828 832 808 811 810 794 789 899
Total Debt		 513 414 414 403 403 403 403 403 403 403 507
Total Long-Term Debt		 508 414 414 399 399 399 399 399 399 399 503
Net Debt		 147 175 197 198 203 199 216 210 214 208 230
Capital Expenditures (CapEx)		 0.40 0.30 0.30 0.20 0.00 0.10 0.30 0.20 0.10 0.70 0.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -196 -130 -115 -112 -99 -119 -104 -111 -119 -125 -119
Debt-free Net Working Capital (DFNWC)		 170 110 103 93 101 85 83 82 70 70 157
Net Working Capital (NWC)		 164 110 103 89 97 81 79 78 66 66 154
Net Nonoperating Expense (NNE)		 4.68 8.36 5.07 7.40 -11 -14 7.43 7.28 7.81 4.29 11
Net Nonoperating Obligations (NNO)		 147 175 197 198 203 199 216 210 214 208 230
Total Depreciation and Amortization (D&A)		 15 17 14 13 9.80 11 8.20 8.10 8.20 8.10 7.10
Debt-free, Cash-free Net Working Capital to Revenue		 -71.73% -39.74% -32.77% -30.56% -26.49% -31.14% -26.30% -28.16% -30.22% -31.34% -28.90%
Debt-free Net Working Capital to Revenue		 62.18% 33.63% 29.37% 25.55% 26.94% 22.20% 21.12% 20.95% 17.79% 17.50% 38.10%
Net Working Capital to Revenue		 60.10% 33.63% 29.37% 24.40% 25.82% 21.11% 20.06% 19.88% 16.72% 16.45% 37.16%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.42 $0.15 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08
Adjusted Weighted Average Basic Shares Outstanding		 68.43M 69.00M 67.28M 62.87M 63.59M 63.96M 63.04M 155.92M 203.89M 156.59M 200.60M
Adjusted Diluted Earnings per Share		 $0.41 $0.16 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08
Adjusted Weighted Average Diluted Shares Outstanding		 68.64M 69.15M 67.28M 62.87M 63.59M 63.96M 65.21M 155.92M 203.89M 156.59M 200.84M
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		 67.61M 67.88M 62.87M 62.88M 62.89M 63.03M 203.84M 203.93M 202.98M 200.05M 198.86M
Normalized Net Operating Profit after Tax (NOPAT)		 98 19 12 -0.70 -0.70 14 18 4.48 1.12 15 26
Normalized NOPAT Margin		 156.54% 19.82% 9.95% -0.81% -0.97% 13.72% 13.82% 5.21% 1.54% 13.63% 17.92%
Pre Tax Income Margin		 194.23% 20.62% 8.01% -14.45% -16.00% 11.23% 10.87% -4.07% -20.39% 10.58% 14.01%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 18.71 2.96 2.09 -0.08 -0.09 1.71 2.01 0.53 -0.38 1.82 2.06
NOPAT to Interest Expense		 14.36 3.42 1.52 -0.05 -0.06 -2.65 1.52 0.37 -0.27 0.82 1.52
EBIT Less CapEx to Interest Expense		 18.65 2.92 2.05 -0.09 -0.09 1.70 1.98 0.52 -0.39 1.76 2.05
NOPAT Less CapEx to Interest Expense		 14.31 3.38 1.48 -0.07 -0.06 -2.66 1.50 0.36 -0.28 0.76 1.51
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 26.79% -215.00% -600.00% 2,580.00% -97.60% 668.18% 140.00%
Augmented Payout Ratio		 11.96% 7.95% 21.67% 20.10% 80.06% -426.25% -641.86% 2,760.00% -123.56% 1,295.45% 460.00%

Key Financial Trends

Emerald Holding (NYSE:EEX) reported robust top‐line growth and margin expansion in Q1 2025, driving higher profitability and free cash flow. The company continues to invest in acquisitions and maintains solid liquidity, but leverage remains elevated and its financial health measures warrant close monitoring.

  • Revenue grew 10.7% year-over-year in Q1 2025 to $147.7 million, marking the strongest quarterly top‐line increase in over a year.
  • Operating margin expanded to 24.2% in Q1 2025, up from 19.5% in Q4 2024, reflecting improving cost control and operating leverage.
  • Net Operating Profit After Tax (NOPAT) rose 43.5% year-over-year to $26.5 million in Q1 2025, driving higher core profitability.
  • Free Cash Flow to Firm (FCFF) increased 54.4% year-over-year to $29.2 million in Q1 2025, supporting debt reduction and strategic investments.
  • Q1 2025 acquisitions totaled $21.2 million, underscoring the company’s growth‐by‐acquisition strategy.
  • The current ratio stood at 1.59 in Q1 2025, indicating adequate short‐term liquidity to cover current liabilities.
  • The company issued a modest $0.1 million of common equity in Q1 2025, having largely funded operations through cash flow and debt.
  • Net debt remained high at $229.8 million in Q1 2025, with a net debt/EBITDA ratio of 2.56x, reflecting significant leverage.
  • Altman Z-Score declined to 0.45 in Q1 2025, below the 1.8 “distress” threshold, signaling potential financial stress if the trend persists.
  • The Cash Conversion Cycle extended to 108 days in Q1 2025 (from 76 days in Q4 2024), tying up more working capital in receivables.
06/20/25 12:48 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Emerald's Financials

When does Emerald's financial year end?

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

How has Emerald's net income changed over the last 9 years?

Emerald's net income appears to be on an upward trend, with a most recent value of $2.20 million in 2024, falling from $19.60 million in 2015. The previous period was -$8 million in 2023. Check out Emerald's forecast to explore projected trends and price targets.

What is Emerald's operating income?
Emerald's total operating income in 2024 was $46.80 million, based on the following breakdown:
  • Total Gross Profit: $398.80 million
  • Total Operating Expenses: $352 million
How has Emerald's revenue changed over the last 9 years?

Over the last 9 years, Emerald's total revenue changed from $306.40 million in 2015 to $398.80 million in 2024, a change of 30.2%.

How much debt does Emerald have?

Emerald's total liabilities were at $662.80 million at the end of 2024, a 2.1% increase from 2023, and a 36.6% decrease since 2016.

How much cash does Emerald have?

In the past 8 years, Emerald's cash and equivalents has ranged from $9.60 million in 2019 to $295.30 million in 2020, and is currently $194.80 million as of their latest financial filing in 2024.

How has Emerald's book value per share changed over the last 9 years?

Over the last 9 years, Emerald's book value per share changed from 0.00 in 2015 to 1.90 in 2024, a change of 190.1%.


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This page (NYSE:EEX) was last updated on 6/20/2025 by MarketBeat.com Staff
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