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Emerald (EEX) Financials

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$5.31 +0.35 (+7.06%)
Closing price 08/22/2025 03:59 PM Eastern
Extended Trading
$5.28 -0.03 (-0.56%)
As of 08/22/2025 04:10 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.
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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
12 -3.00 -19 0.00 -29 0.30 -4.80 -11 5.10 15 -1.40
Consolidated Net Income / (Loss)
22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15 -1.40
Net Income / (Loss) Continuing Operations
22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15 -1.40
Total Pre-Tax Income
19 9.80 -13 -12 11 15 -3.50 -15 11 21 0.60
Total Operating Income
27 17 -1.00 -1.00 20 24 6.40 -4.70 21 36 10
Total Gross Profit
34 122 87 73 -36 86 53 73 154 148 65
Total Revenue
94 122 87 73 102 133 86 73 107 148 106
Operating Revenue
94 122 87 73 102 133 86 73 107 148 106
Total Cost of Revenue
60 0.00 0.00 0.00 138 48 33 0.00 -48 0.00 41
Operating Cost of Revenue
- - - - - 48 33 - - - 41
Total Operating Expenses
7.50 106 88 74 -56 62 47 77 134 112 55
Selling, General & Admin Expense
17 49 42 42 36 56 40 41 35 54 47
Depreciation Expense
17 14 13 8.80 9.80 7.10 7.00 7.10 7.10 6.40 7.60
Other Operating Expenses / (Income)
-26 43 33 23 -102 -1.00 0.00 23 91 51 0.00
Impairment Charge
- - - 0.00 - 0.00 0.00 6.30 - 0.00 0.00
Total Other Income / (Expense), net
-7.20 -7.00 -12 -11 -8.30 -9.80 -9.90 -10 -9.50 -15 -9.60
Interest Expense
9.00 8.00 14 12 12 12 12 12 11 17 11
Interest & Investment Income
1.70 1.10 2.30 1.60 3.20 2.30 2.10 2.20 1.90 2.30 1.30
Other Income / (Expense), net
0.10 -0.10 -0.10 -0.10 0.30 0.00 0.00 0.00 - 0.00 0.00
Income Tax Expense
-3.10 2.70 -4.40 -22 29 3.50 -0.70 -3.70 6.20 5.40 2.00
Preferred Stock Dividends Declared
10 10 10 11 11 11 2.00 0.00 - 0.00 0.00
Basic Earnings per Share
$0.15 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08 ($0.01)
Weighted Average Basic Shares Outstanding
69.00M 67.28M 62.87M 63.59M 63.96M 63.04M 155.92M 203.89M 156.59M 200.60M 198.65M
Diluted Earnings per Share
$0.16 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08 ($0.01)
Weighted Average Diluted Shares Outstanding
69.15M 67.28M 62.87M 63.59M 63.96M 65.21M 155.92M 203.89M 156.59M 200.84M 198.65M
Weighted Average Basic & Diluted Shares Outstanding
67.88M 62.87M 62.88M 62.89M 63.03M 203.84M 203.93M 202.98M 200.05M 198.86M 197.97M

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Net Change in Cash & Equivalents
-127 -22 -13 -4.40 3.90 -17 6.40 -4.30 5.90 82 -120
Net Cash From Operating Activities
-24 8.90 7.30 8.50 16 7.30 9.80 9.10 21 13 16
Net Cash From Continuing Operating Activities
-24 8.90 7.30 8.50 16 7.30 9.80 9.10 21 13 16
Net Income / (Loss) Continuing Operations
22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15 -1.40
Consolidated Net Income / (Loss)
22 7.10 -8.10 11 -18 11 -2.80 -11 5.10 15 -1.40
Depreciation Expense
17 14 13 8.80 9.80 7.10 7.00 7.10 7.10 6.40 7.60
Amortization Expense
0.70 0.40 0.50 1.00 1.10 1.10 1.10 1.10 1.00 0.70 0.30
Non-Cash Adjustments To Reconcile Net Income
-20 3.10 4.20 0.90 3.60 4.80 -0.10 7.90 2.30 6.60 4.70
Changes in Operating Assets and Liabilities, net
-43 -15 -2.20 -13 19 -17 4.60 4.10 5.10 -16 4.70
Net Cash From Investing Activities
-2.80 -13 -2.70 -3.00 -2.10 -14 -2.80 -5.90 -2.20 -21 -127
Net Cash From Continuing Investing Activities
-2.80 -13 -2.70 -3.00 -2.10 -14 -2.80 -5.90 -2.20 -21 -127
Purchase of Property, Plant & Equipment
-0.30 -0.30 -0.20 - -0.10 -0.30 -0.20 -0.10 -0.70 -0.20 -0.10
Acquisitions
-2.50 -13 -2.50 -3.00 -2.00 -14 -3.60 -5.80 -1.50 -21 -127
Net Cash From Financing Activities
-101 -18 -17 -9.90 -9.60 -11 -0.60 -7.50 -13 91 -10
Net Cash From Continuing Financing Activities
-101 -18 -17 -9.90 -9.60 -11 -0.60 -7.50 -13 91 -10
Repayment of Debt
-100 -0.60 -240 -1.40 -1.10 -1.10 -1.00 -1.00 -1.10 -171 -0.40
Repurchase of Common Equity
-0.20 -17 - - - -1.80 - -3.60 -8.40 -8.80 -6.90
Payment of Dividends
- 0.00 - -8.60 -8.60 -8.60 - -3.10 -3.00 -3.00 -3.00
Issuance of Common Equity
- 0.00 - 0.10 0.10 0.90 0.40 0.20 - 0.10 0.10

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
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
Accumulated Other Comprehensive Income / (Loss)
- - - - - - - - 0.00

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 Q2 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 6/30/2025
Total Assets
1,115 1,251 1,101 1,073 1,081 1,080 1,063 1,060 1,183 1,202
Total Current Assets
329 468 333 315 328 326 311 312 414 279
Cash & Equivalents
182 366 217 205 200 187 193 189 277 156
Accounts Receivable
80 83 105 92 79 123 94 86 122 102
Prepaid Expenses
18 19 11 18 49 17 24 37 15 21
Plant, Property, & Equipment, net
4.20 4.00 2.00 1.90 1.70 1.60 1.50 1.70 1.70 1.70
Total Noncurrent Assets
781 779 766 757 751 752 750 746 768 921
Goodwill
538 546 554 554 554 566 568 573 602 727
Intangible Assets
227 217 198 188 183 175 171 162 156 185
Other Noncurrent Operating Assets
17 17 13 15 14 12 11 10 10 10
Total Liabilities & Shareholders' Equity
1,115 1,251 1,101 1,073 1,081 1,080 1,063 1,060 1,183 1,202
Total Liabilities
787 835 669 648 652 672 655 669 791 813
Total Current Liabilities
257 303 230 226 232 247 233 247 260 265
Short-Term Debt
5.70 5.70 - 4.20 4.20 4.20 4.20 4.20 3.90 5.20
Accounts Payable
66 65 55 50 46 61 48 46 61 50
Current Deferred Revenue
144 167 162 162 176 175 176 190 185 200
Current Deferred & Payable Income Tax Liabilities
- 28 2.30 1.10 0.00 1.90 0.00 0.00 1.90 1.70
Other Current Liabilities
42 38 11 7.60 5.30 4.90 5.10 5.80 8.10 8.30
Total Noncurrent Liabilities
530 531 439 422 420 425 422 422 531 548
Long-Term Debt
509 508 414 399 399 399 399 399 503 502
Noncurrent Deferred & Payable Income Tax Liabilities
1.70 2.00 2.80 2.60 2.40 5.50 5.70 5.70 5.40 13
Other Noncurrent Operating Liabilities
7.50 22 22 21 19 20 18 18 23 34
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
-125 -46 -51 -68 -66 -91 408 391 392 389
Total Preferred & Common Equity
-125 -46 -51 -68 -66 -91 408 391 392 389
Total Common Equity
-125 -46 -51 -68 -66 -91 408 391 392 389
Common Stock
635 620 586 578 569 551 1,052 1,046 1,027 1,020
Retained Earnings
-760 -667 -637 -645 -634 -641 -644 -655 -635 -636
Accumulated Other Comprehensive Income / (Loss)
- - - - - - - - - 5.50

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
127.74% 24.16% 21.15% 16.19% 8.44% 9.08% -0.58% 0.14% 5.22% 10.72% 22.67%
EBITDA Growth
711.11% -9.47% -41.71% -93.89% -29.00% 6.21% 17.89% -59.77% -7.07% 32.00% 24.83%
EBIT Growth
509.23% -13.02% -116.18% -100.86% -24.06% 45.51% 681.82% -327.27% 2.97% 47.33% 59.38%
NOPAT Growth
775.97% -39.76% 67.65% -100.72% -201.59% 51.46% 740.00% -370.00% 130.04% 43.54% -631.25%
Net Income Growth
351.69% -55.90% -1,057.14% -88.49% -179.02% 54.93% 65.43% -203.74% 128.81% 39.09% 50.00%
EPS Growth
159.26% -200.00% -93.33% -100.00% -381.25% 100.00% 89.66% 0.00% 102.22% 0.00% 66.67%
Operating Cash Flow Growth
-143.95% -73.03% -40.16% -94.46% 166.10% -17.98% 34.25% 7.06% 32.05% 72.60% 62.24%
Free Cash Flow Firm Growth
-13.80% -154.05% 97.21% -199.60% -236.71% 271.43% 622.86% 134.17% 192.38% 30.56% -1,433.33%
Invested Capital Growth
2.64% 4.18% 0.23% 12.14% -1.76% -0.62% -1.04% -4.26% -1.57% -0.43% 19.86%
Revenue Q/Q Growth
50.00% 30.66% -29.27% -16.19% 40.00% 31.43% -35.53% -15.58% 47.11% 38.30% -28.57%
EBITDA Q/Q Growth
-69.22% -30.14% -59.80% -29.27% 257.47% 4.50% -55.38% -75.86% 725.71% 48.44% -57.81%
EBIT Q/Q Growth
-79.09% -37.22% -106.59% 0.00% 1,936.36% 20.30% -73.66% -173.44% 542.55% 72.12% -71.51%
NOPAT Q/Q Growth
-68.51% -60.43% -105.75% 0.00% -4,363.78% 159.00% -75.70% -173.44% 385.34% 181.87% -189.94%
Net Income Q/Q Growth
-75.91% -68.30% -214.08% 232.10% -265.42% 161.45% -125.45% -296.43% 145.95% 200.00% -109.15%
EPS Q/Q Growth
-60.98% -125.00% -625.00% 100.00% 0.00% 100.00% 0.00% -66.67% 120.00% 700.00% -112.50%
Operating Cash Flow Q/Q Growth
-115.37% 137.71% -17.98% 16.44% 83.53% -53.21% 34.25% -7.14% 126.37% -38.84% 26.19%
Free Cash Flow Firm Q/Q Growth
-78.44% -187.11% 83.88% -3,190.48% 70.41% 209.23% -50.84% 115.03% -20.00% 54.39% -602.04%
Invested Capital Q/Q Growth
8.98% 2.34% -0.76% 1.31% -4.53% 3.53% -1.18% -1.98% -1.85% 4.73% 18.96%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
36.32% 100.00% 100.00% 100.00% -35.57% 64.39% 100.00% 100.00% 144.48% 100.00% 61.52%
EBITDA Margin
46.79% 25.02% 14.22% 12.00% 30.64% 24.36% 16.86% 4.82% 27.06% 29.05% 17.16%
Operating Margin
28.31% 13.74% -1.16% -1.38% 19.61% 18.22% 7.44% -6.47% 19.48% 24.24% 9.67%
EBIT Margin
28.42% 13.65% -1.27% -1.52% 19.90% 18.22% 7.44% -6.47% 19.48% 24.24% 9.67%
Profit (Net Income) Margin
23.93% 5.81% -9.36% 14.76% -17.44% 8.25% -3.26% -15.29% 4.78% 10.36% -1.33%
Tax Burden Percent
116.06% 72.45% 64.80% -92.24% -155.26% 75.86% 80.00% 75.00% 45.13% 73.91% -233.33%
Interest Burden Percent
72.56% 58.68% 1,136.36% 1,054.55% 56.44% 59.67% -54.69% 314.89% 54.33% 57.82% 5.88%
Effective Tax Rate
-16.06% 27.55% 0.00% 0.00% 257.02% 24.14% 0.00% 0.00% 54.87% 26.09% 333.33%
Return on Invested Capital (ROIC)
17.67% 5.65% -0.47% -0.61% -19.36% 8.69% 3.30% -2.88% 5.86% 11.87% -14.38%
ROIC Less NNEP Spread (ROIC-NNEP)
14.03% 3.49% -3.48% 5.91% -12.11% 5.09% -0.27% -6.63% 3.75% 6.87% -6.38%
Return on Net Nonoperating Assets (RNNOA)
8.59% 2.15% -2.28% 2.45% -5.36% 2.50% -0.13% -3.37% 1.93% 3.83% -4.49%
Return on Equity (ROE)
26.25% 7.81% -2.75% 1.84% -24.72% 11.19% 3.17% -6.25% 7.78% 15.70% -18.87%
Cash Return on Invested Capital (CROIC)
21.95% 18.91% 22.38% 32.92% 5.76% -15.47% 1.79% -15.96% 3.88% 4.87% -14.01%
Operating Return on Assets (OROA)
8.57% 4.31% -0.42% -0.49% 7.08% 6.58% 2.74% -2.38% 7.39% 8.85% 3.69%
Return on Assets (ROA)
7.22% 1.83% -3.12% 4.75% -6.20% 2.98% -1.20% -5.62% 1.81% 3.78% -0.51%
Return on Common Equity (ROCE)
-5.38% -1.68% 0.70% -0.24% 3.68% -1.89% 1.30% -2.48% 2.89% 5.91% -18.87%
Return on Equity Simple (ROE_SIMPLE)
0.00% -239.29% -169.48% -48.86% 0.00% 4.74% 0.25% -5.32% 0.00% 1.66% 0.00%
Net Operating Profit after Tax (NOPAT)
31 12 -0.70 -0.70 -31 18 4.48 -3.29 9.39 26 -24
NOPAT Margin
32.86% 9.95% -0.81% -0.97% -30.78% 13.82% 5.21% -4.53% 8.79% 17.92% -22.56%
Net Nonoperating Expense Percent (NNEP)
3.63% 2.16% 3.00% -6.52% -7.25% 3.60% 3.57% 3.75% 2.11% 5.01% -8.00%
Return On Investment Capital (ROIC_SIMPLE)
8.08% - - - -10.07% - - - 1.19% 2.94% -2.66%
Cost of Revenue to Revenue
63.68% 0.00% 0.00% 0.00% 135.57% 35.61% 0.00% 0.00% -44.48% 0.00% 38.48%
SG&A Expenses to Revenue
18.59% 39.90% 48.32% 57.38% 35.57% 41.60% 45.93% 56.20% 32.40% 36.63% 44.64%
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
8.01% 86.26% 101.16% 101.38% -54.98% 46.18% 92.56% 106.47% 125.00% 75.76% 51.85%
Earnings before Interest and Taxes (EBIT)
27 17 -1.10 -1.10 20 24 6.40 -4.70 21 36 10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
44 31 12 8.70 31 33 15 3.50 29 43 18
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.00 0.00 0.00 0.00 0.00 0.00 2.84 2.60 2.53 2.01 2.48
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)
0.73 0.72 0.70 0.76 0.97 1.09 2.94 2.59 2.44 1.90 2.23
Price to Earnings (P/E)
2.58 3.07 3.48 0.00 0.00 0.00 0.00 0.00 0.00 174.71 122.08
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.30% 0.62% 1.15% 1.24%
Earnings Yield
38.83% 32.61% 28.75% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.57% 0.82%
Enterprise Value to Invested Capital (EV/IC)
1.44 1.48 1.52 1.55 1.77 1.83 2.21 2.04 1.99 1.63 1.78
Enterprise Value to Revenue (EV/Rev)
2.71 2.66 2.60 2.62 2.79 2.90 3.47 3.13 2.97 2.46 3.04
Enterprise Value to EBITDA (EV/EBITDA)
3.67 3.92 4.14 10.28 12.92 13.51 15.74 15.09 14.89 11.31 14.08
Enterprise Value to EBIT (EV/EBIT)
4.92 5.25 5.60 23.87 30.78 27.03 27.43 26.66 25.27 17.43 21.17
Enterprise Value to NOPAT (EV/NOPAT)
5.94 6.57 6.73 3.70 43.98 0.00 297.45 0.00 86.14 36.73 47.71
Enterprise Value to Operating Cash Flow (EV/OCF)
5.05 6.17 6.49 891.80 26.51 29.54 33.16 29.46 25.27 19.50 22.59
Enterprise Value to Free Cash Flow (EV/FCFF)
6.65 7.99 6.80 4.99 30.44 0.00 123.15 0.00 50.91 33.46 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.94 0.96 0.95 0.94 1.00 0.99 0.99 1.03 1.04 1.29 1.30
Long-Term Debt to Equity
0.94 0.96 0.94 0.93 0.99 0.98 0.98 1.02 1.03 1.28 1.29
Financial Leverage
0.61 0.62 0.65 0.41 0.44 0.49 0.49 0.51 0.51 0.56 0.70
Leverage Ratio
2.87 2.91 2.91 2.76 2.55 2.60 2.56 2.61 2.66 2.83 2.84
Compound Leverage Factor
2.08 1.71 33.01 29.08 1.44 1.55 -1.40 8.22 1.45 1.63 0.17
Debt to Total Capital
48.51% 48.97% 48.66% 48.43% 49.89% 49.65% 49.70% 50.74% 51.07% 56.37% 56.55%
Short-Term Debt to Total Capital
0.00% 0.00% 0.51% 0.50% 0.52% 0.52% 0.52% 0.53% 0.53% 0.43% 0.58%
Long-Term Debt to Total Capital
48.51% 48.97% 48.15% 47.92% 49.37% 49.14% 49.19% 50.21% 50.53% 55.94% 55.97%
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
55.37% 57.05% 59.49% 59.47% 61.56% 61.52% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
-3.88% -6.02% -8.15% -7.89% -11.46% -11.18% 50.30% 49.26% 48.93% 43.63% 43.45%
Debt to EBITDA
1.72 1.74 1.76 4.22 4.87 4.76 4.64 4.94 5.07 5.64 5.43
Net Debt to EBITDA
0.73 0.83 0.87 2.12 2.40 2.55 2.41 2.62 2.62 2.56 3.75
Long-Term Debt to EBITDA
1.72 1.74 1.74 4.18 4.82 4.71 4.59 4.88 5.02 5.60 5.37
Debt to NOPAT
2.78 2.92 2.86 1.52 16.59 -4.00 87.71 -3.21 29.33 18.31 18.39
Net Debt to NOPAT
1.17 1.39 1.41 0.76 8.18 -2.14 45.64 -1.70 15.14 8.31 12.71
Long-Term Debt to NOPAT
2.78 2.92 2.83 1.50 16.41 -3.95 86.79 -3.17 29.03 18.17 18.20
Altman Z-Score
-0.11 -0.10 -0.17 -0.11 0.00 0.08 0.69 0.48 0.54 0.45 0.37
Noncontrolling Interest Sharing Ratio
120.49% 121.50% 125.54% 113.22% 114.88% 116.86% 59.17% 60.33% 62.88% 62.35% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.49 1.45 1.39 1.42 1.35 1.32 1.34 1.27 1.27 1.59 1.05
Quick Ratio
1.41 1.40 1.32 1.20 1.26 1.25 1.23 1.12 1.15 1.53 0.98
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
15 -13 -2.10 -69 -20 22 11 24 19 29 -146
Operating Cash Flow to CapEx
-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% 15,900.00%
Free Cash Flow to Firm to Interest Expense
1.66 -1.63 -0.15 -5.71 -1.73 1.85 0.92 1.92 1.66 1.68 -13.43
Operating Cash Flow to Interest Expense
-2.62 1.11 0.53 0.70 1.32 0.60 0.82 0.74 1.81 0.72 1.46
Operating Cash Flow Less CapEx to Interest Expense
-2.66 1.08 0.52 0.70 1.31 0.58 0.80 0.73 1.75 0.71 1.45
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.30 0.32 0.33 0.32 0.36 0.36 0.37 0.37 0.38 0.37 0.38
Accounts Receivable Turnover
5.37 3.66 4.24 4.65 4.78 3.46 4.23 4.77 4.76 3.38 4.42
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
110.47 109.28 119.61 131.54 206.92 218.83 231.41 231.47 241.70 250.36 270.38
Accounts Payable Turnover
2.19 1.43 1.41 1.07 2.63 3.20 3.76 4.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
67.93 99.68 86.00 78.57 76.33 105.59 86.33 76.52 76.74 108.15 82.64
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)
166.68 255.90 258.12 340.50 138.86 114.17 97.12 91.20 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
-98.75 -156.22 -172.12 -261.93 -62.54 -8.58 -10.78 -14.68 76.74 108.15 82.64
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
614 629 624 632 603 625 617 605 594 622 740
Invested Capital Turnover
0.54 0.57 0.59 0.63 0.63 0.63 0.63 0.64 0.67 0.66 0.64
Increase / (Decrease) in Invested Capital
16 25 1.40 68 -11 -3.90 -6.50 -27 -9.50 -2.70 123
Enterprise Value (EV)
884 931 948 981 1,068 1,143 1,366 1,231 1,183 1,016 1,315
Market Capitalization
237 252 257 283 372 428 1,156 1,018 975 786 964
Book Value per Share
($0.49) ($0.75) ($1.07) ($1.04) ($1.47) ($1.44) $2.00 $1.92 $1.90 $1.96 $1.96
Tangible Book Value per Share
($11.59) ($11.83) ($12.88) ($12.76) ($13.06) ($13.19) ($1.63) ($1.69) ($1.69) ($1.83) ($2.62)
Total Capital
853 846 828 832 808 811 810 794 789 899 896
Total Debt
414 414 403 403 403 403 403 403 403 507 507
Total Long-Term Debt
414 414 399 399 399 399 399 399 399 503 502
Net Debt
175 197 198 203 199 216 210 214 208 230 350
Capital Expenditures (CapEx)
0.30 0.30 0.20 0.00 0.10 0.30 0.20 0.10 0.70 0.20 0.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-130 -115 -112 -99 -119 -104 -111 -119 -125 -119 -137
Debt-free Net Working Capital (DFNWC)
110 103 93 101 85 83 82 70 70 157 20
Net Working Capital (NWC)
110 103 89 97 81 79 78 66 66 154 14
Net Nonoperating Expense (NNE)
8.36 5.07 7.40 -11 -14 7.43 7.28 7.81 4.29 11 -22
Net Nonoperating Obligations (NNO)
175 197 198 203 199 216 210 214 208 230 350
Total Depreciation and Amortization (D&A)
17 14 13 9.80 11 8.20 8.10 8.20 8.10 7.10 7.90
Debt-free, Cash-free Net Working Capital to Revenue
-39.74% -32.77% -30.56% -26.49% -31.14% -26.30% -28.16% -30.22% -31.34% -28.90% -31.65%
Debt-free Net Working Capital to Revenue
33.63% 29.37% 25.55% 26.94% 22.20% 21.12% 20.95% 17.79% 17.50% 38.10% 4.51%
Net Working Capital to Revenue
33.63% 29.37% 24.40% 25.82% 21.11% 20.06% 19.88% 16.72% 16.45% 37.16% 3.31%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.15 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08 ($0.01)
Adjusted Weighted Average Basic Shares Outstanding
69.00M 67.28M 62.87M 63.59M 63.96M 63.04M 155.92M 203.89M 156.59M 200.60M 198.65M
Adjusted Diluted Earnings per Share
$0.16 ($0.04) ($0.29) $0.00 ($0.45) $0.00 ($0.03) ($0.05) $0.01 $0.08 ($0.01)
Adjusted Weighted Average Diluted Shares Outstanding
69.15M 67.28M 62.87M 63.59M 63.96M 65.21M 155.92M 203.89M 156.59M 200.84M 198.65M
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
67.88M 62.87M 62.88M 62.89M 63.03M 203.84M 203.93M 202.98M 200.05M 198.86M 197.97M
Normalized Net Operating Profit after Tax (NOPAT)
19 12 -0.70 -0.70 14 18 4.48 1.12 15 26 7.14
Normalized NOPAT Margin
19.82% 9.95% -0.81% -0.97% 13.72% 13.82% 5.21% 1.54% 13.63% 17.92% 6.77%
Pre Tax Income Margin
20.62% 8.01% -14.45% -16.00% 11.23% 10.87% -4.07% -20.39% 10.58% 14.01% 0.57%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
2.96 2.09 -0.08 -0.09 1.71 2.01 0.53 -0.38 1.82 2.06 0.94
NOPAT to Interest Expense
3.42 1.52 -0.05 -0.06 -2.65 1.52 0.37 -0.27 0.82 1.52 -2.18
EBIT Less CapEx to Interest Expense
2.92 2.05 -0.09 -0.09 1.70 1.98 0.52 -0.39 1.76 2.05 0.93
NOPAT Less CapEx to Interest Expense
3.38 1.48 -0.07 -0.06 -2.66 1.50 0.36 -0.28 0.76 1.51 -2.19
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 26.79% -215.00% -600.00% 2,580.00% -97.60% 668.18% 140.00% 153.16%
Augmented Payout Ratio
7.95% 21.67% 20.10% 80.06% -426.25% -641.86% 2,760.00% -123.56% 1,295.45% 460.00% 503.80%

Key Financial Trends

Emerald Holding, Inc. (NYSE: EEX) has exhibited mixed financial performance over the past two years, with notable fluctuations in revenue, net income, cash flow, and balance sheet strength. Below is an analysis of key trends from 2022 through the second quarter of 2025.

  • Revenue Growth: Operating revenue increased from about $71.4 million in Q2 2022 to over $105 million by Q2 2025, reflecting growth in core business activities.
  • Gross Profit Stability: Gross profit remained positive and significant in most periods, for example $64.9 million in Q2 2025 and consistently strong margins in earlier quarters.
  • Operating Cash Flow Strength: Net cash from operating activities was strong and positive, such as $15.9 million in Q2 2025 and $20.6 million in Q4 2024, indicating solid operational cash generation despite profits fluctuating.
  • Goodwill and Intangible Assets Growth: Emerald's goodwill increased to $726.7 million by Q2 2025, indicating expansion through acquisitions, supported by intangible assets of $184.5 million, reflecting strategic asset building.
  • Substantial Equity Base: Total common equity was sizable at $389.4 million in Q2 2025, showing a substantial capital cushion, although affected by retained earnings deficits.
  • Net Income Volatility: The company posted net losses in several quarters (e.g., -$1.4 million in Q2 2025) but also net profits (e.g., $15.3 million in Q1 2025), reflecting volatility in profitability.
  • Dividend Payments and Share Repurchases: Emerald consistently paid dividends (~$3 million per quarter) and engaged in share buybacks (e.g., $6.9 million in Q2 2025), which may impact liquidity but return capital to shareholders.
  • Debt Repayments and Issuances: The company repaid and issued debt across quarters, such as a $400,000 repayment in Q2 2025 and $275 million debt issuance in Q1 2025, indicating active debt management strategies.
  • Q2 2025 Net Loss: Despite positive operating cash flow, Emerald reported a consolidated net loss of $1.4 million in Q2 2025, dragged by interest expenses and taxes, impacting earnings per share (EPS: -$0.01).
  • High Interest Expense: Interest expenses remained high, such as $10.9 million in Q2 2025, frequently exceeding interest income, pressuring net income and contributing to losses in some quarters.
  • Large Acquisition Costs: Significant cash outflows for acquisitions, like $126.6 million in Q2 2025 and $21.2 million in Q1 2025, may strain liquidity and increase goodwill risk if acquisitions underperform.
  • Retained Earnings Deficit: Retained earnings are heavily negative (-$636.2 million in Q2 2025), which signals cumulative losses or dividend distribution beyond earnings, weakening shareholders' equity over time.
  • Significant Liabilities: Total liabilities remain high at $812.7 million in Q2 2025 with $501.6 million in long-term debt, a substantial leverage position that could limit financial flexibility.

Summary: Emerald Holding demonstrates growth in revenues and strong operational cash flow, bolstered by strategic acquisitions. However, profitability remains volatile with recent quarterly losses and high interest expenses. The balance sheet shows considerable goodwill and debt burdens, alongside negative retained earnings. Investors should monitor the company's ability to integrate acquisitions effectively, manage debt levels, and return to consistent profitability.

08/25/25 01:53 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Emerald's Financials

When does Emerald's fiscal year end?

According to the most recent income statement we have on file, Emerald's financial year ends in December. Their financial 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. See Emerald's forecast for analyst expectations on what’s next for the company.

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%.



This page (NYSE:EEX) was last updated on 8/25/2025 by MarketBeat.com Staff
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