Capstone Holding Corp. CAPS
Capstone Holding Corp. ("Capstone," "we," "us," or the "Company") is a national, technology-enabled building products distribution and installation platform. Through our three operating subsidiaries — Instone (a trade name of TotalStone, LLC (dba "Instone")), Canadian Stone Industries (operated through Fraser Canyon Holdings Inc. and its subsidiaries, collectively "CSI"), and Carolina Stone (operated through Carolina Stone Holdings, LLC and its subsidiary, Carolina Stone Distributors, LLC) — we distribute and install thin veneer stone, natural stone, manufactured stone, and related masonry and hardscape products for residential and commercial construction markets across 38 U.S. states and two Canadian provinces.'
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $46.9M | $45.8M | $48.6M | — | -$2.0M | $0 | — | — | — | — |
| Cost of revenue | $36.1M | $35.3M | $38.7M | — | — | — | — | — | — | — |
| Gross profit | $10.8M | $9.6M | $9.6M | — | — | — | — | — | — | — |
| R&D | — | — | — | — | $52.0K | — | — | — | — | $1.0K |
| SG&A | $14.4M | $10.2M | $10.9M | — | $554.0K | $641.0K | $543.0K | $1.8M | $1.5M | $1.2M |
| Total operating expenses | — | — | — | — | $2.2M | $1.7M | $1.6M | $2.9M | $4.5M | $4.3M |
| Operating income | -$11.0M | -$638.0K | -$1.3M | — | $181.0K | $1.7M | — | — | — | — |
| Interest expense | $3.9M | $1.5M | $1.7M | — | — | — | — | — | — | — |
| Pre-tax income | -$14.1M | -$2.1M | -$3.6M | — | $432.0K | $1.8M | -$1.7M | -$3.0M | -$4.6M | -$4.1M |
| Income tax | $7.2M | $442.0K | $234.0K | — | $52.0K | $36.0K | $56.0K | $192.0K | $400.0K | $21.0K |
| Net income | -$21.2M | -$2.6M | -$3.8M | — | $380.0K | $1.8M | -$663.0K | -$2.8M | -$4.2M | -$3.9M |
| EPS, basic | -4.12 | -34.87 | -36.39 | — | — | — | — | — | — | — |
| EPS, diluted | — | -34.87 | -36.39 | — | -0.01 | -0.04 | 0.02 | 0.07 | 0.10 | 0.10 |
| Shares, diluted (wtd. avg.) | $5.3M | $157.6K | $157.6K | — | — | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $727.0K | $11.0K | $52.0K | $23.0K | $1.3M | $1.3M | $698.0K | $1.0M | $2.2M | $6.3M |
| Receivables | $4.9M | $2.8M | $2.6M | — | — | — | — | — | — | — |
| Inventory | $17.1M | $9.6M | $13.8M | — | — | — | — | — | — | — |
| Total current assets | $23.0M | $12.8M | $17.1M | — | $1.4M | $1.4M | $829.0K | $1.3M | $2.7M | $6.5M |
| Property, plant and equipment | $2.1M | $1.6M | $1.8M | — | $0 | $0 | $0 | $0 | $0 | $3.0K |
| Goodwill | $18.5M | $23.3M | $23.3M | — | — | — | — | — | — | — |
| Other intangibles | $1.8M | $48.0K | — | — | $39.0K | $196.0K | $353.0K | $509.0K | $666.0K | $823.0K |
| Total assets | $51.4M | $47.2M | $52.7M | — | $1.5M | $1.6M | $1.2M | $1.8M | $3.4M | $7.3M |
| Accounts payable | — | $3.3M | $2.6M | — | $245.0K | $197.0K | $249.0K | $254.0K | $124.0K | $88.0K |
| Short-term debt | $3.7M | $1.9M | $3.6M | — | — | — | — | — | — | — |
| Total current liabilities | $22.9M | $12.6M | $16.0M | — | $246.0K | $199.0K | $304.0K | $261.0K | $282.0K | $100.0K |
| Long-term debt | $9.3M | $6.3M | $5.1M | — | $2.5M | $2.2M | $1.0M | — | — | — |
| Total liabilities | $38.9M | $20.7M | $23.6M | — | — | — | — | — | — | — |
| Retained earnings | -$218.0M | -$196.1M | -$190.6M | — | -$191.8M | -$191.4M | -$189.6M | -$189.0M | -$186.2M | -$182.0M |
| Total equity | $12.5M | -$3.1M | $2.4M | $8.2M | -$1.2M | -$879.0K | -$122.0K | $506.0K | $3.1M | $7.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.4M | $3.8M | $1.6M | — | $66.0K | -$1.6M | -$1.3M | -$2.2M | -$4.1M | -$4.0M |
| Depreciation and amortisation | $391.0K | $310.0K | — | — | — | — | $179.0K | $157.0K | $0 | $173.0K |
| Stock-based compensation | — | — | — | — | $15.0K | $0 | $35.0K | $174.0K | $53.0K | $34.0K |
| Capital expenditure | $122.0K | $120.0K | $208.0K | — | — | — | — | — | — | $0 |
| Investing cash flow | -$6.9M | -$120.0K | -$208.0K | — | $0 | $0 | $0 | $0 | $0 | $4.0K |
| Financing cash flow | $12.1M | -$3.7M | -$1.4M | — | $0 | $2.1M | $946.0K | $1.0M | $0 | $0 |
| Buybacks | — | — | — | — | — | — | — | — | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-012687.
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