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Blue Star Foods (BSFC) Financials

Blue Star Foods logo
$0.11 0.00 (0.00%)
As of 11/12/2026 10:33 AM Eastern
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Annual Income Statements for Blue Star Foods

Annual Income Statements for Blue Star Foods

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.39 -4.54 -10 -4.56 -2.63 -13 -4.47 -12 -3.58
Consolidated Net Income / (Loss)		 0.74 -4.54 -5.02 -4.44 -2.61 -13 -4.47 -12 -3.58
Net Income / (Loss) Continuing Operations		 0.37 -2.28 -5.03 -4.44 -2.61 -13 -4.47 -12 -3.58
Total Pre-Tax Income 		0.37 -2.28 -5.02 -4.44 -3.10 -13 -4.48 -13 -4.06
Total Operating Income		 1.34 -1.27 -3.95 -1.80 -2.78 -12 -4.23 -10 -2.34
Total Gross Profit		 5.70 4.94 3.22 1.49 1.99 -0.65 0.16 -1.29 1.17
Total Revenue		 37 32 24 14 9.97 13 6.12 3.59 2.89
Operating Revenue		 37 32 24 14 9.97 13 6.12 3.59 2.89
Total Cost of Revenue		 31 27 21 13 7.98 13 5.97 5.42 2.27
Operating Cost of Revenue		 31 27 21 13 7.98 13 5.97 5.42 2.27
Total Operating Expenses		 4.36 6.21 7.17 3.29 4.78 11 4.39 8.29 2.96
Selling, General & Admin Expense		 2.50 2.84 3.06 1.74 2.19 2.55 2.53 7.15 1.86
Depreciation Expense		 - - 0.22 0.27 0.38 0.58 0.00 0.01 0.03
Other Operating Expenses / (Income)		 1.86 3.36 3.90 1.29 1.83 2.03 1.86 1.13 1.07
Total Other Income / (Expense), net		 -0.97 -1.01 -1.07 -2.63 -0.32 -1.74 -0.25 -2.42 -1.72
Interest Expense		 0.97 1.01 1.07 0.87 0.32 1.68 1.77 2.06 0.45
Other Income / (Expense), net		 - - 0.00 -1.76 0.00 -0.06 1.52 -0.35 -1.27
Other Gains / (Losses), net		 - - - - 0.50 0.15 0.01 0.05 0.48
Basic Earnings per Share		 $0.03 ($0.15) ($0.31) ($0.25) ($0.12) ($0.52) ($43.99) ($4.15) ($0.10)
Weighted Average Basic Shares Outstanding		 15M 15.15M 16.20M 18.26M 21.71M 25.16M 0.00 3.01M 37.42M
Diluted Earnings per Share		 $0.03 ($0.15) ($0.31) ($0.25) - ($0.52) ($43.99) ($4.15) ($0.10)
Weighted Average Diluted Shares Outstanding		 15M 15.15M 16.20M 18.26M 21.71M 25.16M 101.65K 3.01M 37.42M

Quarterly Income Statements for Blue Star Foods

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -0.62 -1.28 -2.03 -3.05 -6.12 -1.20 -0.65 -0.48 -1.25 -0.74 -0.07
Consolidated Net Income / (Loss)		 -0.62 -1.28 -2.03 -3.05 -6.12 -1.20 -0.65 -0.48 -1.25 -0.74 -0.07
Net Income / (Loss) Continuing Operations		 -0.62 -1.28 -2.03 -3.05 -6.12 -1.20 -0.65 -0.48 -1.25 -0.74 -0.07
Total Pre-Tax Income 		-0.61 -1.28 -2.08 -3.05 -6.12 -1.17 -0.65 -0.55 -1.69 -0.69 -0.12
Total Operating Income		 -1.47 -1.03 -0.88 -2.64 -5.56 -0.97 -0.49 -0.41 -0.46 -0.52 -0.15
Total Gross Profit		 -0.18 -0.04 0.05 -0.29 -1.01 0.09 0.25 0.43 0.40 0.01 0.30
Total Revenue		 1.01 1.06 0.64 0.26 1.64 0.96 1.17 0.46 0.30 0.25 0.53
Operating Revenue		 1.01 1.06 0.64 0.26 1.64 0.96 1.17 0.46 0.30 0.25 0.53
Total Cost of Revenue		 1.19 1.10 0.59 0.55 3.18 1.01 1.06 0.17 0.17 0.38 0.37
Operating Cost of Revenue		 1.19 1.10 0.59 0.55 3.18 1.01 1.06 0.17 0.17 0.38 0.37
Total Operating Expenses		 1.28 0.99 0.93 2.35 4.03 0.93 0.61 0.70 0.58 0.39 0.31
Selling, General & Admin Expense		 0.75 0.69 0.63 2.08 3.75 0.65 0.27 0.46 0.48 0.20 0.12
Depreciation Expense		 -0.03 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01
Other Operating Expenses / (Income)		 0.56 0.30 0.29 0.27 0.27 0.27 0.33 0.24 0.09 0.18 0.18
Total Other Income / (Expense), net		 0.86 -0.25 -1.20 -0.41 -0.56 -0.19 -0.16 -0.14 -1.23 -0.17 0.04
Interest Expense		 0.30 0.34 0.87 0.44 0.42 0.21 0.17 0.16 -0.09 0.03 0.02
Other Income / (Expense), net		 1.16 0.08 -0.33 0.03 -0.14 0.01 0.02 0.02 -1.32 -0.14 0.06
Other Gains / (Losses), net		 -0.01 0.00 0.05 0.00 0.00 -0.03 -0.00 0.07 0.44 -0.05 0.05
Basic Earnings per Share		 $0.00 ($2.42) ($1.68) $1.11 ($1.16) ($0.08) ($0.04) ($0.03) $0.05 $0.00 $0.00
Weighted Average Basic Shares Outstanding		 0.00 527.75K 1.21M 2.75M 3.01M 14.45M 16.64M 18.09M 37.42M 145.31M 145.31M
Diluted Earnings per Share		 $0.00 ($2.42) ($1.68) $1.11 ($1.16) ($0.08) ($0.04) ($0.03) $0.05 $0.00 $0.00
Weighted Average Diluted Shares Outstanding		 101.65K 527.75K 1.21M 2.75M 3.01M 14.45M 16.64M 18.09M 37.42M 145.31M 145.31M
Weighted Average Basic & Diluted Shares Outstanding		 0.00 52.66M 2.51M 7.93M 0.00 - 17.56M 41.80M 0.00 - 171.88M

Annual Cash Flow Statements for Blue Star Foods

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -0.19 0.29 -0.15 0.20 0.82 -1.15 0.01 0.30 -0.31
Net Cash From Operating Activities		 -3.08 3.64 1.58 4.58 -4.83 -3.62 -3.53 -6.20 -0.67
Net Cash From Continuing Operating Activities		 -3.08 3.64 1.58 4.65 -4.83 -3.62 -3.53 -6.20 -0.67
Net Income / (Loss) Continuing Operations		 0.34 -2.28 -5.02 -4.44 -2.61 -13 -4.47 -12 -3.58
Consolidated Net Income / (Loss)		 0.34 -2.28 -5.02 -4.44 -2.61 -13 -4.47 -12 -3.58
Depreciation Expense		 0.06 0.06 0.07 0.03 0.10 0.23 0.00 0.01 0.03
Amortization Expense		 0.17 0.16 0.15 0.23 0.28 1.73 0.87 1.23 0.17
Non-Cash Adjustments To Reconcile Net Income		 -0.09 1.72 2.81 2.49 1.21 7.46 -0.68 4.00 0.85
Changes in Operating Assets and Liabilities, net		 -3.56 3.97 3.57 6.33 -3.82 0.16 0.75 1.04 1.86
Net Cash From Investing Activities		 -0.03 -0.03 -0.27 0.34 -0.77 -0.70 -0.16 -0.10 -0.01
Net Cash From Continuing Investing Activities		 -0.03 -0.03 -0.27 0.34 -0.77 -0.70 -0.16 -0.10 -0.01
Purchase of Property, Plant & Equipment		 -0.03 -0.03 -0.01 -0.06 0.00 -0.30 -0.16 -0.10 -0.01
Net Cash From Financing Activities		 2.86 -3.29 -1.51 -4.80 6.48 3.08 3.68 6.42 0.44
Net Cash From Continuing Financing Activities		 2.86 -3.29 -1.51 -4.80 6.48 3.08 3.68 6.42 0.44
Repayment of Debt		 -37 -37 -24 -12 -12 -14 -6.97 -2.22 -0.55
Issuance of Debt		 40 33 23 6.82 11 17 4.25 2.48 0.97
Issuance of Common Equity		 0.00 0.73 0.02 0.01 6.60 0.00 6.48 6.16 0.02
Effect of Exchange Rate Changes		 0.06 -0.04 0.05 - -0.06 0.09 0.03 0.18 -0.07
Cash Interest Paid		 0.97 1.00 1.07 0.73 0.54 0.31 0.96 0.51 0.23

Quarterly Cash Flow Statements for Blue Star Foods

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -0.46 -0.00 0.05 -0.00 0.25 -0.30 0.02 0.04 -0.07 0.00 -0.01
Net Cash From Operating Activities		 -0.42 -0.68 -1.96 -1.65 -1.91 -0.39 0.20 -0.18 -0.30 -0.05 -0.05
Net Cash From Continuing Operating Activities		 -0.42 -0.68 -1.96 -1.65 -1.91 -0.39 0.20 -0.18 -0.30 -0.05 -0.05
Net Income / (Loss) Continuing Operations		 -0.62 -1.28 -2.03 -3.05 -6.12 -1.20 -0.65 -0.48 -1.25 -0.74 -0.07
Consolidated Net Income / (Loss)		 -0.62 -1.28 -2.03 -3.05 -6.12 -1.20 -0.65 -0.48 -1.25 -0.74 -0.07
Depreciation Expense		 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01
Non-Cash Adjustments To Reconcile Net Income		 -0.53 0.13 0.47 0.30 3.10 0.00 0.08 -0.52 1.29 0.25 -0.22
Changes in Operating Assets and Liabilities, net		 0.62 0.36 -1.06 0.83 0.92 0.70 0.71 0.85 -0.40 0.43 0.23
Net Cash From Financing Activities		 0.01 0.62 2.03 1.70 2.07 0.08 -0.07 0.19 0.24 0.07 -0.02
Net Cash From Continuing Financing Activities		 0.01 0.62 2.03 1.70 2.07 0.08 -0.07 0.19 0.24 0.07 -0.02
Repayment of Debt		 -0.22 -0.36 -0.51 -0.93 -0.43 0.06 -0.07 -0.03 0.04 0.02 -0.02
Effect of Exchange Rate Changes		 -0.03 0.08 0.02 -0.02 0.10 0.02 -0.11 0.03 -0.01 -0.02 0.06
Cash Interest Paid		 0.21 0.23 0.08 0.19 - 0.03 0.09 0.03 0.09 0.00 0.01

Annual Balance Sheets for Blue Star Foods

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 18 13 16 7.82 16 8.68 6.36 2.55 1.39
Total Current Assets		 18 13 12 4.73 9.63 6.52 4.10 2.23 1.16
Cash & Equivalents		 0.03 0.01 0.15 0.06 1.16 0.01 0.02 0.33 0.01
Accounts Receivable		 4.68 4.59 3.36 2.38 2.65 1.03 0.63 0.35 0.15
Inventories, net		 13 8.13 7.98 1.83 2.12 4.81 2.61 0.45 0.40
Other Current Assets		 0.10 0.09 0.24 0.18 3.70 0.67 0.83 1.11 0.59
Plant, Property, & Equipment, net		 0.15 0.11 0.06 0.02 1.90 0.12 0.30 0.12 0.11
Total Noncurrent Assets		 0.31 0.22 3.90 3.07 4.41 2.04 1.96 0.20 0.12
Other Noncurrent Operating Assets		 0.31 0.22 1.33 0.21 0.20 1.60 1.53 0.20 0.12
Total Liabilities & Shareholders' Equity		 18 13 16 7.82 16 8.68 6.36 2.55 1.39
Total Liabilities		 19 14 16 7.84 7.04 9.92 3.77 2.75 3.74
Total Current Liabilities		 19 14 15 7.26 6.79 9.53 3.20 2.64 3.69
Short-Term Debt		 15 11 11 2.97 2.84 5.35 0.42 0.73 0.42
Accounts Payable		 4.41 3.16 3.53 1.61 1.79 2.40 0.66 0.31 0.54
Accrued Expenses		 - - - - - - - 0.68 0.36
Current Employee Benefit Liabilities		 - - - - - - - 0.00 0.48
Other Current Liabilities		 - 0.00 0.14 2.68 2.05 1.74 1.87 0.88 1.90
Total Noncurrent Liabilities		 0.03 0.00 1.70 0.58 0.25 0.39 0.57 0.10 0.05
Long-Term Debt		 0.03 - - 0.00 0.03 0.00 0.48 0.05 0.04
Other Noncurrent Operating Liabilities		 - 0.00 1.09 0.07 0.04 0.39 0.09 0.05 0.01
Total Equity & Noncontrolling Interests		 -1.25 -0.82 -0.52 -0.02 8.91 -1.25 2.59 -0.19 -2.36
Total Preferred & Common Equity		 -0.94 -0.45 -0.16 -0.02 8.91 -1.25 2.59 -0.19 -2.36
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -0.83 -0.38 -0.04 -0.02 8.91 -1.25 2.59 -0.19 -2.36
Common Stock		 0.56 3.41 8.79 13 25 28 37 46 48
Retained Earnings		 -1.49 -3.85 -8.95 -14 -16 -29 -34 -46 -50
Treasury Stock		 - - - - - 0.00 -0.08 -0.08 -0.08
Accumulated Other Comprehensive Income / (Loss)		 0.11 0.07 0.12 0.00 -0.05 -0.24 -0.18 0.01 -0.07
Other Equity Adjustments		 - - - - - - - 0.00 -0.00

Quarterly Balance Sheets for Blue Star Foods

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

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 6.86 8.10 7.84 2.05 1.47 1.27 1.34 1.29
Total Current Assets		 4.54 5.77 5.45 1.75 1.20 1.03 1.13 1.09
Cash & Equivalents		 0.02 0.07 0.07 0.02 0.05 0.08 0.02 0.01
Accounts Receivable		 0.91 0.60 1.32 0.46 0.45 0.23 0.18 0.12
Inventories, net		 2.28 2.64 2.37 0.34 0.25 0.12 0.36 0.39
Other Current Assets		 1.33 2.46 1.70 0.93 0.46 0.60 0.57 0.56
Plant, Property, & Equipment, net		 0.32 0.36 0.39 0.13 0.12 0.11 0.10 0.09
Total Noncurrent Assets		 1.99 1.98 1.99 0.17 0.15 0.13 0.11 0.11
Other Noncurrent Operating Assets		 1.56 1.54 1.56 0.17 0.15 0.13 0.11 0.11
Total Liabilities & Shareholders' Equity		 6.86 8.10 7.84 2.05 1.47 1.27 1.34 1.29
Total Liabilities		 4.28 3.49 3.11 2.69 2.84 2.97 4.31 4.26
Total Current Liabilities		 3.67 3.23 2.92 2.44 2.76 2.70 4.26 4.23
Short-Term Debt		 0.51 0.93 0.99 0.59 0.72 0.65 0.42 0.41
Accounts Payable		 1.06 0.84 0.84 0.96 0.60 0.49 0.90 0.77
Accrued Expenses		 - - - - 0.28 0.32 0.43 0.58
Current Employee Benefit Liabilities		 - - - - 0.27 0.41 0.48 0.48
Other Current Liabilities		 1.87 1.36 1.06 0.86 0.85 0.83 2.03 1.98
Total Noncurrent Liabilities		 0.61 0.26 0.19 0.25 0.08 0.28 0.04 0.04
Long-Term Debt		 0.53 0.19 0.13 0.21 0.05 0.26 0.04 0.03
Other Noncurrent Operating Liabilities		 0.08 0.07 0.06 0.04 0.03 0.02 0.00 0.00
Total Equity & Noncontrolling Interests		 2.58 4.61 4.73 -0.64 -1.37 -1.70 -2.97 -2.97
Total Preferred & Common Equity		 2.58 4.61 4.73 -0.64 -1.37 -1.70 -2.97 -2.97
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2.58 4.61 4.73 -0.64 -1.37 -1.70 -2.97 -2.97
Common Stock		 38 42 43 47 47 47 48 48
Retained Earnings		 -35 -37 -38 -47 -48 -49 -51 -51
Treasury Stock		 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08
Accumulated Other Comprehensive Income / (Loss)		 -0.10 -0.08 -0.10 0.02 -0.09 -0.06 -0.09 -0.03
Other Equity Adjustments		 - - - - - - -0.00 -0.00

Annual Metrics And Ratios for Blue Star Foods

This table displays calculated financial ratios and metrics derived from Blue Star Foods' official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 16,015,000.00 16,090,424.00 18,715,531.00 24,575,806.00 25,538,844.00 14,450,350.00 7,934,270.00 41,804,278.00
DEI Adjusted Shares Outstanding		 0.00 16,015,000.00 16,090,424.00 18,715,531.00 24,575,806.00 25,538,844.00 14,450,350.00 7,934,270.00 41,804,278.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.28 -0.63 -0.24 -0.11 -0.52 -0.31 -1.57 -0.09
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% -12.95% -25.92% -40.78% -29.32% 28.01% -52.03% -41.32% -19.55%
EBITDA Growth		 0.00% -166.09% -258.99% 11.75% 27.35% -305.07% 81.06% -402.00% 62.99%
EBIT Growth		 0.00% -194.48% -211.74% 9.76% 21.96% -319.27% 76.76% -286.00% 65.50%
NOPAT Growth		 0.00% -166.14% -211.74% 54.38% -54.35% -317.22% 63.56% -139.01% 76.88%
Net Income Growth		 0.00% -715.65% -10.67% 11.63% 41.29% -406.45% 66.11% -179.06% 71.29%
EPS Growth		 0.00% -600.00% -106.67% 19.35% 0.00% 0.00% 66.11% 90.57% 97.59%
Operating Cash Flow Growth		 0.00% 218.39% -56.69% 190.11% -205.63% 25.12% 2.44% -75.49% 89.11%
Free Cash Flow Firm Growth		 0.00% 0.00% -223.13% 278.62% -250.24% 85.25% -65.42% -64.88% 113.82%
Invested Capital Growth		 0.00% -27.57% 8.19% -71.00% 244.97% -62.13% -15.05% -92.40% -822.58%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 3.43% -14.59% 21.29% -31.73%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -74.20% 74.22% -135.60% 52.60%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -70.93% 69.00% -106.37% 52.05%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -70.09% 53.15% -68.04% 68.57%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -70.09% 58.65% -78.69% 57.61%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -70.09% 58.65% 72.46% 92.37%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 54.32% -33.96% -31.71% 70.44%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -168.72% 57.83% -62.65%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -61.20% 332.69% -95.42% -118.42%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 15.42% 15.35% 13.51% 10.54% 19.99% -5.11% 2.58% -35.87% 40.49%
EBITDA Margin		 4.26% -3.24% -15.69% -23.38% -24.03% -76.04% -30.03% -256.86% -118.17%
Operating Margin		 3.63% -3.94% -16.59% -12.78% -27.91% -90.97% -69.10% -281.46% -80.88%
EBIT Margin		 3.63% -3.94% -16.59% -25.28% -27.91% -91.41% -44.29% -291.32% -124.92%
Profit (Net Income) Margin		 1.99% -14.11% -21.07% -31.45% -26.12% -103.35% -73.01% -347.21% -123.90%
Tax Burden Percent		 197.79% 199.26% 100.00% 100.00% 83.93% 98.84% 99.72% 99.59% 88.25%
Interest Burden Percent		 27.77% 179.58% 127.04% 124.40% 111.51% 114.38% 165.33% 119.68% 112.38%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 9.74% -7.47% -26.64% -18.13% -27.97% -109.19% -78.33% -378.79% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.72% -35.74% -47.03% -62.03% -54.01% -249.31% -126.88% -1,187.17% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -68.58% 445.44% 776.58% 1,663.35% -30.66% -235.27% -584.53% -659.69% 0.00%
Return on Equity (ROE)		 -58.84% 437.97% 749.94% 1,645.22% -58.63% -344.46% -662.85% -1,038.48% 281.18%
Cash Return on Invested Capital (CROIC)		 0.00% 24.51% -34.51% 91.94% -138.08% -19.06% -62.06% -207.03% 0.00%
Operating Return on Assets (OROA)		 7.36% -7.99% -27.05% -30.27% -23.42% -94.79% -36.07% -234.82% -183.31%
Return on Assets (ROA)		 4.04% -28.60% -34.36% -37.66% -21.92% -107.17% -59.46% -279.88% -181.82%
Return on Common Equity (ROCE)		 -38.92% 255.15% 236.39% 192.71% -58.63% -344.46% -662.85% -1,038.48% 281.19%
Return on Equity Simple (ROE_SIMPLE)		 -78.81% 1,015.64% 3,105.88% 0.00% -29.25% 1,059.22% -172.32% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.34 -0.89 -2.77 -1.26 -1.95 -8.13 -2.96 -7.08 -1.64
NOPAT Margin		 3.63% -2.76% -11.61% -8.95% -19.54% -63.68% -48.37% -197.02% -56.62%
Net Nonoperating Expense Percent (NNEP)		 4.03% 28.26% 20.39% 43.90% 26.04% 140.12% 48.56% 808.38% 430.18%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -84.67% -1,198.37% 86.46%
Cost of Revenue to Revenue		 84.58% 84.65% 86.49% 89.46% 80.01% 105.11% 97.42% 150.79% 78.60%
SG&A Expenses to Revenue		 6.75% 8.84% 12.84% 12.30% 21.96% 19.95% 41.27% 199.00% 64.17%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 11.79% 19.29% 30.10% 23.32% 47.90% 85.86% 71.68% 230.67% 102.27%
Earnings before Interest and Taxes (EBIT)		 1.34 -1.27 -3.95 -3.57 -2.78 -12 -2.71 -10 -3.61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.58 -1.04 -3.74 -3.30 -2.40 -9.71 -1.84 -9.23 -3.42
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 3.59 0.00 0.80 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 6.22 0.00 0.80 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 3.21 0.80 0.34 0.28 0.03
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 3.12 3.80 0.85 5.49 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 3.38 1.22 0.48 0.40 0.18
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.98
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 -12.05 -13.60 -20.98 -150.76 0.32 -4.29 0.35 -4.08 -0.20
Long-Term Debt to Equity		 -0.03 0.00 0.00 0.00 0.00 0.00 0.19 -0.28 -0.02
Financial Leverage		 -12.00 -12.46 -16.51 -26.82 0.57 0.94 4.61 0.56 -0.36
Leverage Ratio		 -14.57 -15.31 -21.82 -43.69 2.67 3.21 11.15 3.71 -1.55
Compound Leverage Factor		 -4.04 -27.50 -27.72 -54.35 2.98 3.68 18.43 4.44 -1.74
Debt to Total Capital		 109.05% 107.94% 105.01% 100.67% 24.40% 130.39% 25.83% 132.44% -24.47%
Short-Term Debt to Total Capital		 108.81% 107.94% 105.01% 100.67% 24.13% 130.39% 12.08% 123.50% -22.17%
Long-Term Debt to Total Capital		 0.24% 0.00% 0.00% 0.00% 0.27% 0.00% 13.76% 8.95% -2.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.01%
Noncontrolling Interests to Total Capital		 -3.07% -4.27% -4.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -5.99% -3.67% -0.42% -0.67% 75.60% -30.39% 74.17% -32.44% 124.47%
Debt to EBITDA		 9.58 -10.70 -2.92 -0.90 -1.20 -0.55 -0.49 -0.08 -0.14
Net Debt to EBITDA		 9.54 -10.37 -2.86 -0.80 -0.72 -0.55 -0.48 -0.05 -0.13
Long-Term Debt to EBITDA		 0.02 0.00 0.00 0.00 -0.01 0.00 -0.26 -0.01 -0.01
Debt to NOPAT		 11.24 -12.56 -3.94 -2.36 -1.48 -0.66 -0.31 -0.11 -0.28
Net Debt to NOPAT		 11.20 -12.17 -3.87 -2.09 -0.88 -0.66 -0.30 -0.06 -0.27
Long-Term Debt to NOPAT		 0.03 0.00 0.00 0.00 -0.02 0.00 -0.16 -0.01 -0.03
Altman Z-Score		 0.00 0.00 0.00 0.00 1.57 -7.50 -7.38 -37.46 -59.06
Noncontrolling Interest Sharing Ratio		 33.86% 41.74% 68.48% 88.29% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.91 0.92 0.81 0.65 1.42 0.68 1.28 0.84 0.31
Quick Ratio		 0.24 0.32 0.24 0.34 0.56 0.11 0.20 0.26 0.04
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 2.91 -3.58 6.40 -9.62 -1.42 -2.35 -3.87 0.53
Operating Cash Flow to CapEx		 -9,184.39% 13,649.18% 17,450.37% 0.00% 0.00% -1,219.30% -2,212.07% -6,090.17% -6,804.13%
Free Cash Flow to Firm to Interest Expense		 0.00 2.88 -3.35 7.36 -30.01 -0.85 -1.32 -1.88 1.20
Operating Cash Flow to Interest Expense		 -3.17 3.61 1.48 5.26 -15.08 -2.16 -1.99 -3.01 -1.51
Operating Cash Flow Less CapEx to Interest Expense		 -3.21 3.58 1.47 5.66 -15.02 -2.33 -2.08 -3.06 -1.53
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 2.03 2.03 1.63 1.20 0.84 1.04 0.81 0.81 1.47
Accounts Receivable Turnover		 7.90 6.94 6.00 4.92 3.96 6.93 7.37 7.34 11.64
Inventory Turnover		 2.41 2.58 2.56 2.57 4.04 3.87 1.61 3.55 5.33
Fixed Asset Turnover		 252.24 251.63 278.58 344.30 10.36 12.61 28.87 16.84 25.25
Accounts Payable Turnover		 7.09 7.20 6.17 4.92 4.69 6.40 3.90 11.19 5.37
Days Sales Outstanding (DSO)		 46.18 52.57 60.86 74.23 92.16 52.69 49.51 49.73 31.35
Days Inventory Outstanding (DIO)		 151.27 141.29 142.66 141.93 90.39 94.22 226.86 102.92 68.47
Days Payable Outstanding (DPO)		 51.49 50.71 59.19 74.25 77.80 57.06 93.68 32.62 67.91
Cash Conversion Cycle (CCC)		 145.96 143.15 144.33 141.91 104.75 89.84 182.70 120.04 31.91
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 14 9.98 11 3.13 11 4.09 3.47 0.26 -1.91
Invested Capital Turnover		 2.68 2.71 2.29 2.03 1.43 1.71 1.62 1.92 -3.52
Increase / (Decrease) in Invested Capital		 0.00 -3.80 0.82 -7.66 7.67 -6.71 -0.62 -3.21 -2.17
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 34 16 2.96 1.45 0.52
Market Capitalization		 0.00 0.00 0.00 0.00 32 10 2.08 0.99 0.08
Book Value per Share		 ($0.06) ($0.03) $0.00 $0.00 $0.45 ($0.05) $0.18 ($0.02) ($0.06)
Tangible Book Value per Share		 ($0.06) ($0.03) ($0.16) ($0.14) $0.26 ($0.05) $0.18 ($0.02) ($0.06)
Total Capital		 14 10 10 2.95 12 4.10 3.50 0.59 -1.89
Total Debt		 15 11 11 2.97 2.87 5.35 0.90 0.78 0.46
Total Long-Term Debt		 0.03 0.00 0.00 0.00 0.03 0.00 0.48 0.05 0.04
Net Debt		 15 11 11 2.64 1.72 5.34 0.88 0.46 0.45
Capital Expenditures (CapEx)		 0.03 0.03 0.01 -0.35 -0.02 0.30 0.16 0.10 0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 13 9.65 7.92 0.11 4.53 2.32 1.30 -0.01 -2.12
Debt-free Net Working Capital (DFNWC)		 13 10.00 8.11 0.45 5.68 2.33 1.32 0.32 -2.11
Net Working Capital (NWC)		 -1.68 -1.15 -2.79 -2.53 2.84 -3.01 0.90 -0.41 -2.53
Net Nonoperating Expense (NNE)		 0.61 3.65 2.25 3.17 0.66 5.07 1.51 5.40 1.95
Net Nonoperating Obligations (NNO)		 15 11 11 3.15 1.89 5.34 0.88 0.46 0.45
Total Depreciation and Amortization (D&A)		 0.23 0.23 0.22 0.27 0.39 1.96 0.87 1.24 0.20
Debt-free, Cash-free Net Working Capital to Revenue		 36.04% 30.00% 33.23% 0.77% 45.39% 18.19% 21.19% -0.23% -73.42%
Debt-free Net Working Capital to Revenue		 36.20% 31.08% 34.05% 3.16% 56.98% 18.26% 21.58% 8.86% -72.92%
Net Working Capital to Revenue		 -4.54% -3.57% -11.69% -17.91% 28.47% -23.60% 14.68% -11.44% -87.43%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($310.00) ($250.00) ($120.00) ($520.00) ($44.00) ($4.15) ($0.10)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 16.20K 18.26K 24.96K 25.16K 101.65K 3.01M 37.42M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($310.00) ($250.00) ($120.00) $0.00 ($44.00) ($4.15) ($0.10)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 16.20K 18.26K 24.96K 0.00 101.65K 3.01M 37.42M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($120.00) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 18.26K 21.71K 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 0.94 -0.89 -2.77 -1.26 -1.69 -4.07 -2.96 -7.08 -1.64
Normalized NOPAT Margin		 2.54% -2.76% -11.61% -8.95% -16.91% -31.89% -48.37% -197.02% -56.62%
Pre Tax Income Margin		 1.01% -7.08% -21.07% -31.45% -31.12% -104.56% -73.22% -348.66% -140.39%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 1.38 -1.26 -3.70 -4.10 -8.68 -6.95 -1.53 -5.08 -8.08
NOPAT to Interest Expense		 1.38 -0.88 -2.59 -1.45 -6.08 -4.84 -1.67 -3.44 -3.66
EBIT Less CapEx to Interest Expense		 1.35 -1.28 -3.71 -3.69 -8.63 -7.13 -1.62 -5.13 -8.10
NOPAT Less CapEx to Interest Expense		 1.35 -0.91 -2.60 -1.05 -6.03 -5.02 -1.76 -3.49 -3.68
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.71% 0.00% 0.00%

Quarterly Metrics And Ratios for Blue Star Foods

This table displays calculated financial ratios and metrics derived from Blue Star Foods' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 14,450,350.00 14,450,350.00 52,659,795.00 2,511,458.00 7,934,270.00 7,934,270.00 16,254,721.00 17,561,862.00 41,804,278.00 41,804,278.00 163,880,101.00
DEI Adjusted Shares Outstanding		 14,450,350.00 14,450,350.00 52,659,795.00 2,511,458.00 7,934,270.00 7,934,270.00 16,254,721.00 17,561,862.00 41,804,278.00 41,804,278.00 163,880,101.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.04 -0.09 -0.04 -1.21 -0.77 -0.15 -0.04 -0.03 -0.03 -0.02 0.00
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -50.90% -44.20% -61.64% -83.37% 62.53% -9.31% 84.62% 77.94% -81.94% -73.95% -54.59%
EBITDA Growth		 96.36% 37.14% 40.07% -494.94% -2,653.19% -3.10% 24.20% 81.81% 68.79% 24.98% 78.08%
EBIT Growth		 95.14% 40.83% -4.25% -833.19% -1,750.75% -1.22% 60.51% 84.93% 68.74% 31.40% 79.73%
NOPAT Growth		 76.61% -8.25% 17.91% -256.92% -279.46% 5.55% 44.10% 84.38% 91.72% 46.47% 68.70%
Net Income Growth		 91.06% 34.43% -40.09% -583.60% -882.51% 6.22% 67.95% 84.22% 79.57% 38.72% 90.01%
EPS Growth		 91.06% 34.43% 94.52% 953.85% 0.00% 96.69% 97.62% -102.70% 104.31% 100.00% 100.00%
Operating Cash Flow Growth		 -187.85% 51.67% -1,077.10% -6.99% -356.42% 42.27% 110.43% 88.84% 84.17% 87.60% -123.14%
Free Cash Flow Firm Growth		 -117.66% -95.91% -143.26% -173.88% -66.19% 680.42% 213.95% 193.22% 371.12% -17.24% -69.89%
Invested Capital Growth		 -15.05% -23.02% 436.97% 617.98% -92.40% -96.12% -111.29% -115.15% -822.58% -1,909.01% -297.51%
Revenue Q/Q Growth		 -35.40% 5.01% -40.06% -59.09% 531.20% -41.41% 22.02% -60.57% -35.95% -15.47% 112.75%
EBITDA Q/Q Growth		 -133.77% -315.12% 34.44% -329.73% -135.43% 84.46% 51.80% -3.10% -304.08% 62.64% 85.92%
EBIT Q/Q Growth		 -186.64% -206.88% -27.99% -115.46% -118.71% 83.22% 50.07% 17.75% -353.61% 63.17% 85.24%
NOPAT Q/Q Growth		 -97.97% 29.82% 14.10% -199.06% -110.47% 82.53% 49.16% 16.42% -11.53% -12.97% 70.28%
Net Income Q/Q Growth		 -39.67% -105.48% -58.96% -49.85% -100.74% 80.39% 45.68% 26.21% -159.85% 41.17% 91.14%
EPS Q/Q Growth		 -39.67% -105.48% 30.58% 166.07% -204.50% 93.10% 50.00% 25.00% 266.67% -100.00% 0.00%
Operating Cash Flow Q/Q Growth		 72.80% -62.45% -188.14% 15.96% -16.02% 79.45% 152.05% -189.98% -64.54% 83.91% 2.87%
Free Cash Flow Firm Q/Q Growth		 -104.45% 186.77% -1,566.78% -30.39% 89.99% 507.49% 114.17% 6.67% -70.88% 24.39% -22.07%
Invested Capital Q/Q Growth		 332.69% 3.59% 57.25% 1.87% -95.42% -47.13% -557.79% -36.69% -118.42% -32.36% -0.59%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -18.09% -3.74% 7.48% -112.15% -61.32% 9.54% 21.55% 92.55% 134.61% 3.50% 55.80%
EBITDA Margin		 -19.85% -78.47% -85.82% -901.47% -336.23% -89.20% -35.23% -92.13% -581.24% -256.91% -17.00%
Operating Margin		 -145.27% -97.09% -139.13% -1,017.10% -339.15% -101.12% -42.13% -89.30% -155.49% -207.82% -29.03%
EBIT Margin		 -30.55% -89.29% -190.65% -1,004.08% -347.91% -99.65% -40.78% -85.05% -602.36% -262.46% -18.20%
Profit (Net Income) Margin		 -61.72% -120.78% -320.27% -1,173.14% -373.09% -124.89% -55.60% -104.05% -422.13% -293.82% -12.23%
Tax Burden Percent		 102.06% 99.88% 97.69% 100.00% 99.96% 102.96% 100.29% 87.53% 73.76% 106.67% 55.29%
Interest Burden Percent		 197.92% 135.42% 171.97% 116.84% 107.28% 121.73% 135.97% 139.76% 95.01% 104.95% 121.53%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -164.66% -86.82% -123.73% -642.31% -456.42% -132.34% -47.37% -108.22% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -151.68% -108.26% -257.57% -818.35% -789.64% -190.10% -81.93% -128.80% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -698.77% -184.92% -118.44% -213.88% -438.79% -176.52% -44.67% -79.46% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -863.43% -271.75% -242.18% -856.19% -895.21% -308.86% -92.03% -187.69% 281.18% 172.93% 116.69%
Cash Return on Invested Capital (CROIC)		 -62.06% -46.92% -223.07% -279.40% -207.03% -191.56% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -24.88% -63.35% -107.50% -394.64% -280.44% -78.20% -34.34% -79.06% -883.91% -337.88% -20.33%
Return on Assets (ROA)		 -50.26% -85.68% -180.59% -461.08% -300.74% -98.00% -46.82% -96.72% -619.44% -378.25% -13.66%
Return on Common Equity (ROCE)		 -863.43% -271.75% -242.18% -856.19% -895.21% -308.86% -92.03% -187.69% 281.19% 172.93% 116.69%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -147.48% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.03 -0.72 -0.62 -1.85 -3.89 -0.68 -0.35 -0.29 -0.32 -0.36 -0.11
NOPAT Margin		 -101.69% -67.96% -97.39% -711.97% -237.40% -70.78% -29.49% -62.51% -108.84% -145.48% -20.32%
Net Nonoperating Expense Percent (NNEP)		 -12.97% 21.44% 133.84% 176.04% 333.22% 57.76% 34.56% 20.57% 205.09% 60.83% -7.43%
Return On Investment Capital (ROIC_SIMPLE)		 -29.32% -19.88% -10.79% -31.68% -658.83% -418.18% 58.30% 36.55% 17.02% 14.52% 4.28%
Cost of Revenue to Revenue		 118.09% 103.74% 92.52% 212.15% 194.03% 104.83% 90.22% 37.31% 58.62% 151.65% 70.13%
SG&A Expenses to Revenue		 74.54% 64.74% 99.87% 799.83% 228.95% 67.50% 22.89% 98.87% 162.63% 80.54% 22.97%
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		 127.18% 93.35% 145.95% 903.79% 245.56% 96.29% 51.91% 151.99% 196.88% 156.17% 58.91%
Earnings before Interest and Taxes (EBIT)		 -0.31 -0.95 -1.21 -2.61 -5.70 -0.96 -0.48 -0.39 -1.78 -0.66 -0.10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.20 -0.83 -0.54 -2.34 -5.51 -0.86 -0.41 -0.43 -1.72 -0.64 -0.09
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.80 0.51 0.46 3.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.80 0.51 0.46 3.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.34 0.25 0.49 5.70 0.28 0.11 0.24 0.08 0.03 0.02 0.10
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.85 0.65 0.56 3.11 5.49 8.41 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.48 0.44 0.74 6.05 0.40 0.34 0.42 0.28 0.18 0.22 0.38
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.82 0.98 0.36 0.71
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.35 0.41 0.24 0.24 -4.08 -1.26 -0.57 -0.53 -0.20 -0.16 -0.15
Long-Term Debt to Equity		 0.19 0.21 0.04 0.03 -0.28 -0.33 -0.04 -0.15 -0.02 -0.01 -0.01
Financial Leverage		 4.61 1.71 0.46 0.26 0.56 0.93 0.55 0.62 -0.36 -0.34 -0.27
Leverage Ratio		 11.15 4.88 3.29 2.90 3.71 4.60 2.95 3.01 -1.55 -0.94 -0.64
Compound Leverage Factor		 22.06 6.60 5.66 3.38 3.98 5.59 4.01 4.21 -1.47 -0.99 -0.77
Debt to Total Capital		 25.83% 28.86% 19.51% 19.06% 132.44% 492.09% -130.26% -114.99% -24.47% -18.36% -17.57%
Short-Term Debt to Total Capital		 12.08% 14.14% 16.22% 16.89% 123.50% 364.15% -122.08% -82.32% -22.17% -16.72% -16.20%
Long-Term Debt to Total Capital		 13.76% 14.72% 3.29% 2.18% 8.95% 127.95% -8.18% -32.67% -2.30% -1.63% -1.37%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.01% -0.01% -0.01%
Noncontrolling Interests 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%
Common Equity to Total Capital		 74.17% 71.14% 80.49% 80.94% -32.44% -392.09% 230.26% 214.99% 124.47% 118.36% 117.57%
Debt to EBITDA		 -0.49 -0.78 -1.14 -0.28 -0.08 -0.09 -0.08 -0.13 -0.14 -0.14 -0.15
Net Debt to EBITDA		 -0.48 -0.76 -1.06 -0.27 -0.05 -0.08 -0.08 -0.11 -0.13 -0.14 -0.15
Long-Term Debt to EBITDA		 -0.26 -0.40 -0.19 -0.03 -0.01 -0.02 -0.01 -0.04 -0.01 -0.01 -0.01
Debt to NOPAT		 -0.31 -0.35 -0.39 -0.26 -0.11 -0.11 -0.11 -0.17 -0.28 -0.35 -0.41
Net Debt to NOPAT		 -0.30 -0.34 -0.36 -0.25 -0.06 -0.11 -0.11 -0.16 -0.27 -0.34 -0.40
Long-Term Debt to NOPAT		 -0.16 -0.18 -0.07 -0.03 -0.01 -0.03 -0.01 -0.05 -0.03 -0.03 -0.03
Altman Z-Score		 -6.14 -6.47 -5.58 -3.88 -31.31 -32.57 -45.18 -52.61 -54.70 -55.76 -57.03
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.28 1.24 1.78 1.86 0.84 0.72 0.44 0.38 0.31 0.26 0.26
Quick Ratio		 0.20 0.25 0.21 0.47 0.26 0.20 0.18 0.12 0.04 0.05 0.03
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.41 0.36 -5.22 -6.81 -0.68 2.78 5.95 6.35 1.85 2.30 1.79
Operating Cash Flow to CapEx		 -1,546.81% -2,937.56% -5,653.95% -4,529.09% -25,188.08% -3,959.55% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -1.36 1.06 -6.00 -15.51 -1.64 13.36 34.63 40.62 0.00 70.72 85.91
Operating Cash Flow to Interest Expense		 -1.39 -2.03 -2.25 -3.75 -4.60 -1.89 1.19 -1.18 0.00 -1.50 -2.27
Operating Cash Flow Less CapEx to Interest Expense		 -1.48 -2.10 -2.29 -3.83 -4.62 -1.93 1.19 -1.18 0.00 -1.50 -2.27
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.81 0.71 0.56 0.39 0.81 0.78 0.84 0.93 1.47 1.29 1.12
Accounts Receivable Turnover		 7.37 4.86 7.89 3.51 7.34 5.12 7.64 5.48 11.64 6.83 5.34
Inventory Turnover		 1.61 1.88 1.54 1.57 3.55 4.06 4.02 3.82 5.33 4.71 2.99
Fixed Asset Turnover		 28.87 23.08 17.22 8.96 16.84 15.52 16.84 16.70 25.25 19.28 14.46
Accounts Payable Turnover		 3.90 4.89 4.28 4.96 11.19 5.26 8.06 7.14 5.37 1.76 1.40
Days Sales Outstanding (DSO)		 49.51 75.09 46.24 103.94 49.73 71.34 47.75 66.55 31.35 53.42 68.29
Days Inventory Outstanding (DIO)		 226.86 193.97 236.62 231.88 102.92 89.87 90.88 95.52 68.47 77.47 121.97
Days Payable Outstanding (DPO)		 93.68 74.59 85.27 73.66 32.62 69.36 45.31 51.15 67.91 207.14 260.54
Cash Conversion Cycle (CCC)		 182.70 194.48 197.58 262.16 120.04 91.85 93.32 110.92 31.91 -76.25 -70.28
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3.47 3.60 5.66 5.77 0.26 0.14 -0.64 -0.87 -1.91 -2.52 -2.54
Invested Capital Turnover		 1.62 1.28 1.27 0.90 1.92 1.87 1.61 1.73 -3.52 -1.83 -0.97
Increase / (Decrease) in Invested Capital		 -0.62 -1.08 4.61 4.96 -3.21 -3.46 -6.30 -6.64 -2.17 -2.66 -1.90
Enterprise Value (EV)		 2.96 2.35 3.15 18 1.45 1.17 1.71 1.17 0.52 0.49 0.58
Market Capitalization		 2.08 1.32 2.11 17 0.99 0.40 0.98 0.35 0.08 0.04 0.15
Book Value per Share		 $0.18 $0.18 $0.09 $1.88 ($0.02) ($0.08) ($0.08) ($0.10) ($0.06) ($0.07) ($0.02)
Tangible Book Value per Share		 $0.18 $0.18 $0.09 $1.88 ($0.02) ($0.08) ($0.08) ($0.10) ($0.06) ($0.07) ($0.02)
Total Capital		 3.50 3.62 5.73 5.84 0.59 0.16 -0.59 -0.79 -1.89 -2.51 -2.53
Total Debt		 0.90 1.05 1.12 1.11 0.78 0.80 0.77 0.91 0.46 0.46 0.44
Total Long-Term Debt		 0.48 0.53 0.19 0.13 0.05 0.21 0.05 0.26 0.04 0.04 0.03
Net Debt		 0.88 1.02 1.05 1.04 0.46 0.78 0.73 0.83 0.45 0.44 0.43
Capital Expenditures (CapEx)		 0.03 0.02 0.03 0.04 0.01 0.01 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1.30 1.36 3.39 3.44 -0.01 -0.12 -0.88 -1.10 -2.12 -2.73 -2.74
Debt-free Net Working Capital (DFNWC)		 1.32 1.38 3.46 3.51 0.32 -0.10 -0.83 -1.01 -2.11 -2.72 -2.73
Net Working Capital (NWC)		 0.90 0.87 2.53 2.53 -0.41 -0.69 -1.55 -1.66 -2.53 -3.13 -3.14
Net Nonoperating Expense (NNE)		 -0.40 0.56 1.42 1.20 2.22 0.52 0.31 0.19 0.93 0.37 -0.04
Net Nonoperating Obligations (NNO)		 0.88 1.02 1.05 1.04 0.46 0.78 0.73 0.83 0.45 0.44 0.43
Total Depreciation and Amortization (D&A)		 0.11 0.11 0.67 0.27 0.19 0.10 0.06 -0.03 0.06 0.01 0.01
Debt-free, Cash-free Net Working Capital to Revenue		 21.19% 25.73% 79.51% 116.13% -0.23% -3.38% -21.72% -25.89% -73.42% -125.29% -177.69%
Debt-free Net Working Capital to Revenue		 21.58% 26.15% 81.22% 118.58% 8.86% -2.72% -20.58% -23.94% -72.92% -124.51% -176.97%
Net Working Capital to Revenue		 14.68% 16.46% 59.42% 85.31% -11.44% -19.66% -38.53% -39.31% -87.43% -143.74% -203.56%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.00) ($1.52) ($0.48) ($1.16) ($0.08) ($0.04) ($0.03) $0.05 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 0.00 527.75K 1.21M 2.75M 3.01M 14.45M 16.64M 18.09M 37.42M 145.31M 145.31M
Adjusted Diluted Earnings per Share		 $0.00 ($2.00) ($1.52) ($0.48) ($1.16) ($0.08) ($0.04) ($0.03) $0.05 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 2.03K 527.75K 1.21M 2.75M 3.01M 14.45M 16.64M 18.09M 37.42M 145.31M 145.31M
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		 0.00 1.05M 2.51M 7.93M 0.00 0.00 17.56M 41.80M 0.00 0.00 171.88M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.03 -0.72 -0.62 -1.85 -3.89 -0.68 -0.35 -0.29 -0.32 -0.36 -0.11
Normalized NOPAT Margin		 -101.69% -67.96% -97.39% -711.97% -237.40% -70.78% -29.49% -62.51% -108.84% -145.48% -20.32%
Pre Tax Income Margin		 -60.47% -120.92% -327.85% -1,173.14% -373.23% -121.31% -55.44% -118.87% -572.29% -275.46% -22.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.02 -2.82 -1.39 -5.94 -13.74 -4.60 -2.78 -2.51 0.00 -20.19 -4.64
NOPAT to Interest Expense		 -3.40 -2.15 -0.71 -4.21 -9.38 -3.27 -2.01 -1.85 0.00 -11.19 -5.18
EBIT Less CapEx to Interest Expense		 -1.11 -2.89 -1.43 -6.02 -13.76 -4.65 -2.78 -2.51 0.00 -20.19 -4.64
NOPAT Less CapEx to Interest Expense		 -3.49 -2.22 -0.75 -4.29 -9.39 -3.32 -2.01 -1.85 0.00 -11.19 -5.18
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -1.71% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Blue Star Foods’ Q2 2026 results showed a sequential rebound in revenue and a smaller net loss, but the company’s financial position remains strained. The quarter’s revenue of $532,417 was more than double Q1’s $250,259, while the reported net loss narrowed to $65,125 from $735,313. Revenue was still about 55% lower than in Q2 2025, however, and the company continued to use cash in operations.

Liquidity is a central concern. At June 30, 2026, Blue Star Foods reported just $11,119 in cash, compared with $4.23 million in current liabilities. Current assets of $1.09 million were also well below current liabilities, and shareholders’ equity remained negative at approximately $2.97 million. The balance sheet and cash flow data indicate limited room to absorb further operating losses without additional financing or other changes.

  • Revenue recovered from Q1: Q2 revenue rose about 113% quarter over quarter, to $532,417 from $250,259. The increase is encouraging, although revenue remained below the $1.17 million reported for Q2 2025.
  • Net loss narrowed: The reported Q2 net loss of $65,125 was substantially smaller than Q1’s $735,313 loss and Q2 2025’s $651,818 loss. This is a notable improvement, but the company has not returned to profitability.
  • Some reported income-statement figures do not reconcile: In Q2 2026, revenue less cost of revenue implies gross profit of about $159,000, while the statement reports $297,065. The reported gross profit, operating expenses and operating income also do not reconcile arithmetically, so those figures should be interpreted cautiously.
  • Revenue remains below the year-ago level: Q2 2026 revenue was about 55% lower than Q2 2025’s $1.17 million. The recent sequential increase therefore follows a much lower quarter and does not yet establish a sustained recovery.
  • Operating cash flow remained negative: Blue Star Foods used $47,275 in operating cash in Q2 2026, following a $48,670 outflow in Q1. Operating cash flow was also negative in each of the supplied 2024 and 2025 quarters, including a $302,484 outflow in Q4 2025.
  • Very limited liquidity: Q2 cash of $11,119 was only a small fraction of current liabilities of $4.23 million. Current assets of $1.09 million covered about 26% of current liabilities, pointing to significant near-term funding pressure.
  • Liabilities exceed assets and equity is negative: Total liabilities were $4.26 million against total assets of $1.29 million, leaving reported shareholders’ equity at negative $2.97 million. Equity was also negative in the supplied 2025 and 2026 balance sheets.
  • Reported share counts increased sharply: Weighted-average basic shares were 145.3 million in Q1 and Q2 2026, versus 37.4 million in Q4 2025. This may indicate substantial dilution, though investors should also check whether corporate actions or reporting adjustments affected the comparison.
11/13/26 11:11 AM ETAI Generated. May Contain Errors.

Blue Star Foods Financials - Frequently Asked Questions

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

Blue Star Foods' net income appears to be on a downward trend, with a most recent value of -$3.58 million in 2025, compared with $737.03 thousand in 2017. The previous period was -$12.48 million in 2024.

Blue Star Foods' total operating income in 2025 was -$2.34 million, based on the following breakdown:
  • Total Gross Profit: $1.17 million
  • Total Operating Expenses: $2.96 million

Over the last 8 years, Blue Star Foods' total revenue changed from $36.95 million in 2017 to $2.89 million in 2025, a change of -92.2%.

In the past 9 quarters, Blue Star Foods' cash and equivalents has ranged from $11.12 thousand in Q2 2026 to $82.77 thousand in Q3 2025, and is currently $11.12 thousand as of their latest financial filing in Q2 2026.

Blue Star Foods had total debt of $463.25 thousand at the end of 2025, a 40.8% decrease from 2024, and a 96.9% decrease since 2017.

Over the last 8 years, Blue Star Foods' book value per share changed from -0.06 in 2017 to -0.06 in 2025, a change of -2.2%.


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Financial statements for OTCMKTS:BSFC last updated on 11/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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