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SWK Holdings Corp

SWKHL Clue Score45
United States Fiscal year ends December CIK 0001089907
$25.10 +0.08% Close, 9 Oct 2026
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Price $25.10 +1.97% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 4 Oct 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue22.4Net income28.9EPS, diluted2.22Fiscal year 2017Revenue37.5 +67.5%Net income3.0 −89.5%EPS, diluted0.23 −89.6%Fiscal year 2018Revenue26.0 −30.7%Net income6.2 +103.3%EPS, diluted0.47 +104.3%Fiscal year 2019Revenue30.7 +18.3%Net income23.8 +284.6%EPS, diluted1.85 +293.6%Fiscal year 2020Revenue36.7 +19.4%Net income5.2 −78.2%EPS, diluted0.40 −78.4%Fiscal year 2021Revenue56.2 +53.0%Net income25.9 +398.4%EPS, diluted2.02 +405.0%Fiscal year 2022Revenue41.5 −26.1%Net income13.5 −48.0%EPS, diluted1.05 −48.0%Fiscal year 2023Revenue1.2 −97.1%Operating income14.7Net income15.9 +17.8%EPS, diluted1.25 +19.0%Fiscal year 2024Revenue3.6 +200.8%Operating income11.6Net income13.5 −15.1%EPS, diluted1.09 −12.8%Fiscal year 2025Revenue2.2 −40.5%Operating income20.3Net income−2.5 −118.8%EPS, diluted−0.21 −119.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 22.4 37.5 26.0 30.7 36.7 56.2 41.5 1.2 3.6 2.2
Growth +67.5% −30.7% +18.3% +19.4% +53.0% −26.1% −97.1% +200.8% −40.5%
Operating income n/a n/a n/a n/a n/a n/a n/a 14.7 11.6 20.3
Net income 28.9 3.0 6.2 23.8 5.2 25.9 13.5 15.9 13.5 −2.5
Growth −89.5% +103.3% +284.6% −78.2% +398.4% −48.0% +17.8% −15.1% −118.8%
EPS, diluted 2.22 0.23 0.47 1.85 0.40 2.02 1.05 1.25 1.09 −0.21
Growth −89.6% +104.3% +293.6% −78.4% +405.0% −48.0% +19.0% −12.8% −119.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Net margin129.1%Fiscal year 2017Net margin8.1%Fiscal year 2018Net margin23.8%Fiscal year 2019Net margin77.5%Free cash flow margin60.1%Fiscal year 2020Net margin14.2%Free cash flow margin41.8%Fiscal year 2021Net margin46.2%Free cash flow margin59.2%Fiscal year 2022Net margin32.5%Free cash flow margin19.1%Fiscal year 2023Operating margin1,218.8%Net margin1,321.7%Free cash flow margin1,197.3%Fiscal year 2024Operating margin320.4%Net margin373.0%Free cash flow margin633.6%Fiscal year 2025Operating margin941.7%Net margin−117.6%Free cash flow margin1,243.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a n/a n/a n/a n/a n/a 1,218.8% 320.4% 941.7%
Net margin 129.1% 8.1% 23.8% 77.5% 14.2% 46.2% 32.5% 1,321.7% 373.0% −117.6%
Free cash flow margin n/a n/a n/a 60.1% 41.8% 59.2% 19.1% 1,197.3% 633.6% 1,243.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow9.6Fiscal year 2017Operating cash flow19.5Fiscal year 2018Operating cash flow19.6Buybacks−1.4Fiscal year 2019Operating cash flow18.5Capital expenditure−0.0Free cash flow18.5Buybacks−0.9Fiscal year 2020Operating cash flow19.3Capital expenditure−3.9Free cash flow15.3 −17.1%Buybacks−2.0Fiscal year 2021Operating cash flow34.3Capital expenditure−1.1Free cash flow33.2 +116.7%Fiscal year 2022Operating cash flow8.2Capital expenditure−0.3Free cash flow7.9 −76.2%Buybacks−1.1Fiscal year 2023Operating cash flow14.9Capital expenditure−0.5Free cash flow14.4 +82.1%Buybacks−6.3Fiscal year 2024Operating cash flow23.0Capital expenditure−0.1Free cash flow22.9 +59.2%Buybacks−6.0Fiscal year 2025Operating cash flow27.3Capital expenditure−0.5Free cash flow26.8 +16.9%Buybacks−3.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 9.6 19.5 19.6 18.5 19.3 34.3 8.2 14.9 23.0 27.3
Capital expenditure n/a n/a n/a −0.0 −3.9 −1.1 −0.3 −0.5 −0.1 −0.5
Free cash flow n/a n/a n/a 18.5 15.3 33.2 7.9 14.4 22.9 26.8
Growth −17.1% +116.7% −76.2% +82.1% +59.2% +16.9%
Buybacks n/a n/a −1.4 −0.9 −2.0 n/a −1.1 −6.3 −6.0 −3.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash32.2Shareholders’ equity204.3Fiscal year 2017Cash30.6Shareholders’ equity208.0Fiscal year 2018Cash20.2Shareholders’ equity213.1Fiscal year 2019Cash11.2Shareholders’ equity236.5Fiscal year 2020Cash3.0Shareholders’ equity240.5Fiscal year 2021Cash42.9Shareholders’ equity267.2Fiscal year 2022Cash6.2Shareholders’ equity279.9Fiscal year 2023Cash4.5Total debt33.0Net cash (debt)−28.5Shareholders’ equity280.3Debt to equity0.12Fiscal year 2024Cash5.9Total debt33.0Net cash (debt)−27.0Shareholders’ equity288.7Debt to equity0.11Fiscal year 2025Cash42.8Total debt33.0Net cash (debt)9.8Shareholders’ equity235.1Debt to equity0.14
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 32.2 30.6 20.2 11.2 3.0 42.9 6.2 4.5 5.9 42.8
Total debt n/a n/a n/a n/a n/a n/a n/a 33.0 33.0 33.0
Net cash (debt) n/a n/a n/a n/a n/a n/a n/a −28.5 −27.0 9.8
Shareholders’ equity 204.3 208.0 213.1 236.5 240.5 267.2 279.9 280.3 288.7 235.1
Debt to equity n/a n/a n/a n/a n/a n/a n/a 0.12 0.11 0.14

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
22.4 37.5 26.0 30.7 36.7 56.2 41.5 1.2 3.6 2.2
Growth +67.5% −30.7% +18.3% +19.4% +53.0% −26.1% −97.1% +200.8% −40.5%
n/a n/a n/a 1.2 4.3 7.3 7.0 3.4 2.2 1.6
2.8 4.1 4.9 7.4 10.5 13.6 13.0 11.2 11.5 14.8
n/a n/a n/a n/a n/a n/a n/a 14.7 11.6 20.3
Growth −20.9% +75.0%
10.4 24.0 6.2 16.8 3.7 33.0 9.5 14.6 18.4 20.1
−21.6 15.8 0.0 −7.0 −1.5 7.1 −4.0 −1.3 4.9 22.6
28.9 3.0 6.2 23.8 5.2 25.9 13.5 15.9 13.5 −2.5
Growth −89.5% +103.3% +284.6% −78.2% +398.4% −48.0% +17.8% −15.1% −118.8%
Per share
2.22 0.23 0.47 1.85 0.40 2.03 1.05 1.26 1.09 −0.21
2.22 0.23 0.47 1.85 0.40 2.02 1.05 1.25 1.09 −0.21
Growth −89.6% +104.3% +293.6% −78.4% +405.0% −48.0% +19.0% −12.8% −119.3%
13.0 13.0 13.1 12.9 12.9 12.8 12.8 12.7 12.4 12.2
13.0 13.0 13.1 12.9 12.9 12.8 12.9 12.7 12.4 12.2
Growth +0.2% +0.1% −1.1% −0.4% −0.2% +0.4% −1.4% −2.5% −1.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 43.3% a year over five years.
  • The diluted share count fell 5.4% in five years, so buybacks did some of the work per share.
  • A net loss in 1 of 10 years on file.