What is STUB's operating income?

STUB's total operating income in 2025 was -$1.34 billion, based on the following breakdown: Total Gross Profit: $1.43 billion Total Operating Expenses: $2.78 billion

STUB (STUB) Financials

$6.81 -0.13 (-1.87%)

Closing price 03:58 PM Eastern

Extended Trading

$6.83 +0.02 (+0.35%)

As of 06:41 PM Eastern

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Annual Income Statements for STUB

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

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	352	-55	-1,992
Consolidated Net Income / (Loss)	405	-2.80	-1,906
Net Income / (Loss) Continuing Operations	405	-2.80	-1,906
Total Pre-Tax Income	86	37	-1,545
Total Operating Income	253	138	-1,344
Total Gross Profit	1,136	1,437	1,431
Total Revenue	1,368	1,771	1,745
Operating Revenue	1,368	1,771	1,745
Total Cost of Revenue	232	334	314
Operating Cost of Revenue	232	334	314
Total Operating Expenses	883	1,298	2,775
Selling, General & Admin Expense	342	446	1,778
Marketing Expense	518	828	972
Depreciation Expense	23	25	26
Total Other Income / (Expense), net	-168	-101	-201
Interest Expense	156	188	159
Interest & Investment Income	23	41	42
Other Income / (Expense), net	-34	46	-85
Income Tax Expense	-320	40	361
Basic Earnings per Share	$1.16	($0.18)	($6.25)
Weighted Average Basic Shares Outstanding	302.07M	304.36M	318.57M
Diluted Earnings per Share	$1.14	($0.18)	($6.27)
Weighted Average Diluted Shares Outstanding	307.82M	304.36M	319.23M
Weighted Average Basic & Diluted Shares Outstanding	-	-	356.72M

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

Metric	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-46	-36	-76	-1,331	65	-0.04
Consolidated Net Income / (Loss)	-33	-22	-54	-1,295	48	15
Net Income / (Loss) Continuing Operations	-33	-22	-54	-1,295	48	6.63
Total Pre-Tax Income	-50	-31	-71	-1,401	45	12
Total Operating Income	12	27	25	-1,368	26	19
Total Gross Profit	354	335	355	368	380	468
Total Revenue	434	398	430	468	446	573
Operating Revenue	434	398	430	468	446	573
Total Cost of Revenue	80	62	75	101	66	105
Operating Cost of Revenue	80	62	75	101	66	105
Total Operating Expenses	342	308	330	1,736	354	449
Selling, General & Admin Expense	115	83	88	1,448	121	165
Marketing Expense	221	219	235	281	226	274
Depreciation Expense	6.17	6.34	6.41	6.41	7.89	9.82
Total Other Income / (Expense), net	-62	-58	-96	-33	19	-15
Interest Expense	48	42	44	51	17	24
Interest & Investment Income	11	8.30	10	13	11	12
Other Income / (Expense), net	-25	-23	-63	5.24	26	-3.36
Income Tax Expense	-17	-8.49	-18	-106	-2.83	-2.38
Basic Earnings per Share	($0.15)	($0.12)	($0.25)	($4.27)	$0.09	$0.00
Weighted Average Basic Shares Outstanding	304.43M	304.55M	304.73M	311.63M	359.36M	378.71M
Diluted Earnings per Share	($0.15)	($0.12)	($0.25)	($4.27)	$0.06	$0.00
Weighted Average Diluted Shares Outstanding	304.43M	304.55M	304.73M	312.96M	378.31M	378.71M
Weighted Average Basic & Diluted Shares Outstanding	-	-	-	345.54M	375.44M	382.09M

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

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	396	208	230
Net Cash From Operating Activities	307	261	193
Net Cash From Continuing Operating Activities	307	261	193
Net Income / (Loss) Continuing Operations	405	-2.80	-1,906
Consolidated Net Income / (Loss)	405	-2.80	-1,906
Depreciation Expense	1.64	2.25	2.54
Amortization Expense	27	24	-0.26
Non-Cash Adjustments To Reconcile Net Income	195	20	1,688
Changes in Operating Assets and Liabilities, net	-321	218	408
Net Cash From Investing Activities	-5.44	-6.38	-34
Net Cash From Continuing Investing Activities	-5.44	-6.38	-34
Purchase of Property, Plant & Equipment	-3.73	-4.29	-33
Acquisitions	-1.71	-2.09	-1.46
Net Cash From Financing Activities	94	-47	72
Net Cash From Continuing Financing Activities	94	-47	72
Repayment of Debt	-60	-509	-910
Repurchase of Common Equity	-1.09	-5.96	-13
Issuance of Debt	40	443	0.00
Issuance of Preferred Equity	115	24	305
Issuance of Common Equity	0.50	1.12	758
Other Financing Activities, net	0.00	0.00	-69
Cash Interest Paid	207	234	194
Cash Income Taxes Paid	9.05	5.33	19

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

Metric	Q4 2024	Q1 2025	Q2 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-159	150	79	-151	284	177
Net Cash From Operating Activities	-149	158	19	11	298	322
Net Cash From Continuing Operating Activities	-149	158	19	11	298	322
Net Income / (Loss) Continuing Operations	54	-22	-54	-535	48	15
Consolidated Net Income / (Loss)	54	-22	-54	-535	48	15
Depreciation Expense	0.59	0.60	0.64	0.71	2.22	4.19
Amortization Expense	6.05	5.92	6.20	-0.21	-0.49	-2.02
Non-Cash Adjustments To Reconcile Net Income	-298	231	37	18	277	265
Changes in Operating Assets and Liabilities, net	88	-57	30	528	-28	40
Net Cash From Investing Activities	-1.18	-7.21	-9.60	-9.17	-7.84	-12
Net Cash From Continuing Investing Activities	-1.18	-7.21	-9.60	-9.17	-7.84	-12
Purchase of Property, Plant & Equipment	-0.86	-6.74	-9.14	-8.91	-7.80	-12
Net Cash From Financing Activities	-8.21	-5.85	74	-153	-4.63	-134
Net Cash From Continuing Financing Activities	-8.21	-5.85	74	-153	-4.63	-134
Repayment of Debt	-4.88	-4.88	-4.88	-150	0.00	-100
Repurchase of Common Equity	-3.33	-1.00	-1.85	-1.93	-2.06	-0.35
Issuance of Common Equity	-	0.03	0.02	0.10	0.03	0.11
Other Financing Activities, net	-	0.00	-	-0.92	-2.61	-34
Cash Interest Paid	56	53	53	35	31	30

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

Metric	2024	2025
Period end date	12/31/2024	12/31/2025
Total Assets	5,094	5,054
Total Current Assets	1,051	1,296
Cash & Equivalents	1,001	1,242
Accounts Receivable	5.47	6.91
Inventories, net	16	9.23
Prepaid Expenses	29	38
Plant, Property, & Equipment, net	6.51	73
Total Noncurrent Assets	4,036	3,685
Goodwill	2,687	2,687
Intangible Assets	925	903
Noncurrent Deferred & Refundable Income Taxes	248	2.08
Other Noncurrent Operating Assets	176	93
Total Liabilities & Shareholders' Equity	5,094	5,054
Total Liabilities	3,716	3,112
Total Current Liabilities	1,108	1,251
Accounts Payable	113	71
Accrued Expenses	269	334
Other Current Liabilities	707	846
Total Noncurrent Liabilities	2,608	1,861
Long-Term Debt	2,312	1,507
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	93
Other Noncurrent Operating Liabilities	296	261
Commitments & Contingencies	0.00	0.00
Redeemable Noncontrolling Interest	497	758
Total Equity & Noncontrolling Interests	881	1,184
Total Preferred & Common Equity	881	1,184
Total Common Equity	881	1,184
Common Stock	2,256	4,523
Retained Earnings	-1,505	-3,411
Accumulated Other Comprehensive Income / (Loss)	129	71

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

Metric	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2025	3/31/2026	6/30/2026
Total Assets	5,601	5,354	5,559
Total Current Assets	1,440	1,623	1,785
Cash & Equivalents	1,392	1,526	1,693
Accounts Receivable	6.21	9.62	14
Inventories, net	2.00	8.82	4.97
Prepaid Expenses	39	78	73
Plant, Property, & Equipment, net	58	87	122
Total Noncurrent Assets	4,102	3,644	3,651
Goodwill	2,687	2,687	2,687
Intangible Assets	909	897	892
Noncurrent Deferred & Refundable Income Taxes	401	1.86	2.21
Other Noncurrent Operating Assets	106	58	70
Total Liabilities & Shareholders' Equity	5,601	5,354	5,559
Total Liabilities	3,150	3,336	3,481
Total Current Liabilities	1,266	1,472	1,709
Accounts Payable	67	64	53
Accrued Expenses	334	297	350
Other Current Liabilities	866	1,112	1,307
Total Noncurrent Liabilities	1,884	1,863	1,772
Long-Term Debt	1,653	1,496	1,396
Noncurrent Deferred & Payable Income Tax Liabilities	-	98	100
Other Noncurrent Operating Liabilities	231	269	275
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	758	454	454
Total Equity & Noncontrolling Interests	1,693	1,564	1,623
Total Preferred & Common Equity	1,693	1,564	1,623
Total Common Equity	1,693	1,564	1,623
Common Stock	4,486	4,872	4,932
Retained Earnings	-2,875	-3,363	-3,348
Accumulated Other Comprehensive Income / (Loss)	82	55	39

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

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	345,539,975.00
DEI Adjusted Shares Outstanding	0.00	0.00	345,539,975.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-5.77
Growth Metrics	-	-	-
Profitability Metrics	-	-	-
Net Operating Profit after Tax (NOPAT)	1,199	-10	-941
Return On Investment Capital (ROIC_SIMPLE)	-	-0.32%	-34.97%
Earnings before Interest and Taxes (EBIT)	219	184	-1,429
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	248	211	-1,427
Valuation Ratios	-	-	-
Leverage & Solvency	-	-	-
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-2,719	-439
Efficiency Ratios	-	-	-
Capital & Investment Metrics	-	-	-
Invested Capital	0.00	2,708	2,207
Increase / (Decrease) in Invested Capital	0.00	2,708	-501
Book Value per Share	$0.00	$2.89	$3.43
Tangible Book Value per Share	$0.00	($8.97)	($6.96)
Total Capital	0.00	3,709	3,449
Total Debt	0.00	2,332	1,507
Total Long-Term Debt	0.00	2,312	1,507
Net Debt	0.00	1,331	265
Capital Expenditures (CapEx)	3.73	4.29	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-1,038	-1,197
Debt-free Net Working Capital (DFNWC)	0.00	-37	44
Net Working Capital (NWC)	0.00	-57	44
Net Nonoperating Expense (NNE)	794	-7.57	965
Net Nonoperating Obligations (NNO)	0.00	1,331	265
Total Depreciation and Amortization (D&A)	29	26	2.27
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($6.25)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	318.57M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($6.27)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	319.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	356.72M
Normalized Net Operating Profit after Tax (NOPAT)	177	97	-941
Debt Service Ratios	-	-	-
Payout Ratios	-	-	-

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

Metric	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	0.00	0.00	0.00	0.00	356,724,119.00	375,437,301.00
DEI Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	356,724,119.00	375,437,301.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	0.18	0.00
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	7.92%	12.18%	33.18%
EBITDA Growth	0.00%	0.00%	0.00%	-18,856.62%	438.09%	158.75%
EBIT Growth	0.00%	0.00%	0.00%	-10,129.26%	1,402.49%	142.45%
NOPAT Growth	0.00%	0.00%	0.00%	-11,364.52%	46.09%	32.47%
Net Income Growth	0.00%	0.00%	0.00%	-3,821.63%	316.58%	127.14%
EPS Growth	0.00%	0.00%	0.00%	-2,746.67%	150.00%	100.00%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	0.00%	88.49%	1,565.94%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	0.00%	0.00%	8.22%	0.00%	0.00%	28.48%
EBITDA Q/Q Growth	0.00%	0.00%	-411.61%	0.00%	0.00%	-65.98%
EBIT Q/Q Growth	0.00%	0.00%	-1,196.59%	0.00%	0.00%	-69.02%
NOPAT Q/Q Growth	0.00%	0.00%	-6.64%	0.00%	0.00%	-15.35%
Net Income Q/Q Growth	0.00%	0.00%	-142.66%	0.00%	0.00%	-69.60%
EPS Q/Q Growth	0.00%	0.00%	-108.33%	0.00%	0.00%	-100.00%
Operating Cash Flow Q/Q Growth	0.00%	205.94%	-87.80%	0.00%	2,580.46%	7.86%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	10.34%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-10.41%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	81.66%	84.29%	82.54%	78.53%	85.24%	81.75%
EBITDA Margin	-1.65%	2.51%	-7.22%	-289.79%	12.03%	3.19%
Operating Margin	2.80%	6.75%	5.82%	-292.28%	5.79%	3.40%
EBIT Margin	-3.07%	0.87%	-8.81%	-291.16%	11.65%	2.81%
Profit (Net Income) Margin	-7.61%	-5.58%	-12.51%	-276.56%	10.77%	2.55%
Tax Burden Percent	66.25%	72.31%	75.37%	92.42%	106.26%	119.42%
Interest Burden Percent	373.96%	-887.13%	188.35%	102.78%	87.02%	75.99%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	-6.26%	-19.42%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	11.10%	8.82%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-126.18%	14.63%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	1.88%	-2.09%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	12.98%	6.73%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	3.90%	0.98%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	3.61%	0.89%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	10.06%	5.26%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	8.50	19	18	-958	27	23
NOPAT Margin	1.96%	4.72%	4.08%	-204.59%	6.15%	4.05%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	258.74%	137.28%	-5.81%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-28.63%	0.90%	0.77%
Cost of Revenue to Revenue	18.34%	15.71%	17.46%	21.47%	14.76%	18.25%
SG&A Expenses to Revenue	26.50%	20.89%	20.56%	309.38%	27.04%	28.81%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	78.86%	77.54%	76.72%	370.81%	79.45%	78.35%
Earnings before Interest and Taxes (EBIT)	-13	3.46	-38	-1,363	52	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-7.16	9.98	-31	-1,357	54	18
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	3.11	1.51	3.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	1.32	2.52
Price to Earnings (P/E)	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%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	2.32	1.40	2.83
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	1.55	2.60
Enterprise Value to EBITDA (EV/EBITDA)	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
Enterprise Value to NOPAT (EV/NOPAT)	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	8.37	7.92
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.67	0.74	0.67
Long-Term Debt to Equity	0.00	0.00	0.00	0.67	0.74	0.67
Financial Leverage	0.00	0.00	0.00	0.11	-0.01	-0.14
Leverage Ratio	0.00	0.00	0.00	2.29	2.65	2.68
Compound Leverage Factor	0.00	0.00	0.00	2.35	2.31	2.03
Debt to Total Capital	0.00%	0.00%	0.00%	40.28%	42.58%	40.19%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	40.28%	42.58%	40.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	18.47%	12.93%	13.08%
Common Equity to Total Capital	0.00%	0.00%	0.00%	41.25%	44.49%	46.73%
Debt to EBITDA	0.00	0.00	0.00	0.00	-1.08	-1.05
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.02	0.22
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-1.08	-1.05
Debt to NOPAT	0.00	0.00	0.00	0.00	-1.59	-1.48
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.03	0.31
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-1.59	-1.48
Altman Z-Score	0.00	0.00	0.00	0.00	-0.05	0.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	22.52%	21.87%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	1.14	1.10	1.04
Quick Ratio	0.00	0.00	0.00	1.10	1.04	1.00
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	0.00	-3,669	-1,960	-1,758
Operating Cash Flow to CapEx	0.00%	2,350.37%	211.45%	0.00%	3,826.83%	2,637.97%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-72.21	-113.53	-73.01
Operating Cash Flow to Interest Expense	0.00	3.73	0.44	0.00	17.28	13.37
Operating Cash Flow Less CapEx to Interest Expense	0.00	3.57	0.23	0.00	16.83	12.86
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.34	0.35
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	186.54	138.85
Inventory Turnover	0.00	0.00	0.00	0.00	35.98	69.82
Fixed Asset Turnover	0.00	0.00	0.00	0.00	20.54	15.82
Accounts Payable Turnover	0.00	0.00	0.00	0.00	4.96	6.58
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	1.96	2.63
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	10.14	5.23
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	73.57	55.50
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	-61.47	-47.64
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	0.00	0.00	2,711	1,988	1,781
Invested Capital Turnover	0.00	0.00	0.00	0.00	1.80	2.17
Increase / (Decrease) in Invested Capital	0.00	0.00	0.00	2,711	1,988	1,781
Enterprise Value (EV)	0.00	0.00	0.00	6,289	2,785	5,032
Market Capitalization	800	800	800	5,270	2,361	4,874
Book Value per Share	$0.00	$0.00	$0.00	$5.43	$4.38	$4.32
Tangible Book Value per Share	$0.00	$0.00	$0.00	($6.10)	($5.66)	($5.21)
Total Capital	0.00	0.00	0.00	4,104	3,514	3,474
Total Debt	0.00	0.00	0.00	1,653	1,496	1,396
Total Long-Term Debt	0.00	0.00	0.00	1,653	1,496	1,396
Net Debt	0.00	0.00	0.00	260	-30	-297
Capital Expenditures (CapEx)	0.00	6.74	9.14	0.00	7.80	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	0.00	-1,219	-1,376	-1,617
Debt-free Net Working Capital (DFNWC)	0.00	0.00	0.00	174	150	76
Net Working Capital (NWC)	0.00	0.00	0.00	174	150	76
Net Nonoperating Expense (NNE)	42	41	71	337	-21	8.63
Net Nonoperating Obligations (NNO)	0.00	0.00	0.00	260	-30	-297
Total Depreciation and Amortization (D&A)	6.17	6.52	6.83	6.41	1.72	2.17
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	-76.71%	-83.52%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	8.39%	3.92%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	8.39%	3.92%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($4.27)	$0.09	$0.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	311.63M	359.36M	378.71M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($4.27)	$0.06	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	312.96M	378.31M	378.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	345.54M	375.44M	382.09M
Normalized Net Operating Profit after Tax (NOPAT)	8.50	19	18	-958	18	14
Normalized NOPAT Margin	1.96%	4.72%	4.08%	-204.59%	4.05%	2.38%
Pre Tax Income Margin	-11.49%	-7.72%	-16.60%	-299.25%	10.14%	2.13%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-0.28	0.08	-0.86	-26.82	3.01	0.67
NOPAT to Interest Expense	0.18	0.44	0.40	-18.85	1.59	0.97
EBIT Less CapEx to Interest Expense	0.00	-0.08	-1.07	0.00	2.56	0.16
NOPAT Less CapEx to Interest Expense	0.00	0.28	0.19	0.00	1.14	0.46
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-0.76%	-0.71%

Financials Breakdown Chart

Key Financial Trends

StubHub Holdings (NYSE: STUB) showed a much stronger start to 2026, with a sharp rebound in profitability and cash generation compared with the prior year’s weak quarters. Revenue grew modestly, operating leverage improved dramatically, and the balance sheet ended the quarter with a large cash position. That said, the business still carries substantial debt and remains highly influenced by big swings in marketing, other income/expense, and financing items.

Q1 2026 revenue rose to $446.0 million, up from $397.6 million in Q1 2025, showing continued top-line growth.
Gross profit expanded to $380.2 million in Q1 2026, with gross margin improving to about 85%, indicating strong unit economics.
Operating income jumped to $25.8 million in Q1 2026 from $26.8 million in Q1 2025, and importantly from a deep loss in Q3 2025, suggesting a major recovery in core earnings power.
Net income improved to $48.0 million in Q1 2026 versus a $22.2 million loss in Q1 2025, a clear year-over-year turnaround.
Operating cash flow surged to $298.4 million in Q1 2026, up from $158.3 million in Q1 2025, which is a strong sign that earnings are being converted into cash.
Cash & equivalents totaled $1.53 billion at March 31, 2026, giving the company significant liquidity.
Shareholders’ equity increased to $1.56 billion, up from $1.69 billion at Q3 2025, supported by the quarter’s strong earnings and cash generation.
Q1 2026 diluted EPS was $0.06, improving from a loss of $0.12 in Q1 2025, but still modest relative to revenue size.
Capital spending remained light at $7.8 million in Q1 2026, consistent with an asset-light model.
Long-term debt remained high at $1.50 billion on the Q1 2026 balance sheet, which keeps leverage a key risk.
Marketing expense remained very large at $225.9 million in Q1 2026, showing that customer acquisition and brand support still consume a significant portion of revenue.
Interest expense remains meaningful, with $17.3 million recorded in Q1 2026 and $31.0 million in cash interest paid, which pressures bottom-line results.
Results have been volatile quarter to quarter: Q3 2025 saw a steep operating loss of $1.37 billion, highlighting that StubHub’s earnings can swing widely.
Other current liabilities were still large at $1.11 billion, suggesting the company has substantial short-term obligations to manage.

Overall: StubHub’s Q1 2026 numbers look materially better than the prior year, with stronger revenue, much better operating performance, and robust cash flow. The main question for investors is whether this improvement is sustainable, since the company still carries a sizable debt load and has a history of uneven quarterly results.

08/20/26 08:43 PM ETAI Generated. May Contain Errors.

STUB Financials - Frequently Asked Questions

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

STUB's net income appears to be on an upward trend, with a most recent value of -$1.91 billion in 2025, falling from $405.20 million in 2023. The previous period was -$2.80 million in 2024. See STUB's forecast for analyst expectations on what's next for the company.

STUB's total operating income in 2025 was -$1.34 billion, based on the following breakdown:

Total Gross Profit: $1.43 billion
Total Operating Expenses: $2.78 billion

Over the last 2 years, STUB's total revenue changed from $1.37 billion in 2023 to $1.75 billion in 2025, a change of 27.6%.

STUB's total liabilities were at $3.11 billion at the end of 2025, a 16.2% decrease from 2024, and a 16.2% decrease since 2024.

In the past 1 years, STUB's cash and equivalents has ranged from $1.00 billion in 2024 to $1.24 billion in 2025, and is currently $1.24 billion as of their latest financial filing in 2025.

Over the last 2 years, STUB's book value per share changed from 0.00 in 2023 to 3.43 in 2025, a change of 342.5%.

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Financial statements for NYSE:STUB last updated on 8/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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STUB (STUB) Financials

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STUB (STUB) Financials

Annual Income Statements for STUB

Quarterly Income Statements for STUB

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Quarterly Cash Flow Statements for STUB

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Quarterly Balance Sheets for STUB

Annual Metrics And Ratios for STUB

Quarterly Metrics And Ratios for STUB

Financials Breakdown Chart

Key Financial Trends

STUB Financials - Frequently Asked Questions

When does STUB's fiscal year end?

How has STUB's net income changed over the last 2 years?

What is STUB's operating income?

How has STUB's revenue changed over the last 2 years?

How much debt does STUB have?

How much cash does STUB have?

How has STUB's book value per share changed over the last 2 years?

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