Grayscale Ethereum Mini Trust (ETH) 10-Year Financial Performance & Capital Metrics

ETH • • Banking & Credit

Financial ServicesCrypto Asset ManagementCryptocurrency Investment ProductsEthereum Investment Trusts

AboutWhile an investment in the Shares is not a direct investment in Ether, the Shares are designed to provide investors with a cost-effective and convenient way to gain investment exposure to Ether.Show more

Net Interest Income $0
Total Revenue $615M -4.9%
Net Income $52M -19.1%
Return on Equity 10.69% -20.1%
Net Interest Margin 0%
Efficiency Ratio 50.4% +3.3%
ROA 6.96% -18.7%
Equity / Assets 65.43% +0.9%
Book Value per Share 18.81 +99.8%
Tangible BV/Share 17.05 +99.8%
Debt/Equity 0.26 -3.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 42.1%
✓Efficient operations: 50.4% efficiency ratio
✓Well capitalized: 65.4% equity/assets
✓Good 3Y average ROE of 16.1%
✓Share count reduced 50.0% through buybacks
✓Diversified revenue: 100.0% from non-interest income

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-2.03%

5Y0.83%

3Y-9.08%

TTM-

Profit (Net Income) CAGR

10Y3.34%

5Y42.12%

3Y-20.65%

TTM-10.92%

EPS CAGR

10Y4.7%

5Y42.67%

3Y-20.83%

TTM-18.36%

ROCE

10Y Avg15.28%

5Y Avg18.61%

3Y Avg16.14%

Latest10.55%

Peer Comparison

Ethereum Investment Trusts

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ETHGrayscale Ethereum Mini Trust	770.76M	30.29	15.07	-4.89%	8.39%	9.96%	0.01%	0.26

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Net Interest Income+	0	0	0	0	0	0	0	0	0	0
NII Growth %	-	-	-	-	-	-	-	-	-	-
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	224K	226K	0	0
Interest Expense	1.62M	1.22M	325K	87K	455K	481K	0	0	0	0
Loan Loss Provision	350.35M	342.44M	350.5M	337.11M	266.25M	291.58M	333.06M	311.01M	253.16M	242.53M
Non-Interest Income+	794.2M	763.38M	766.78M	746.68M	589.84M	685.17M	817.54M	791.16M	646.22M	614.65M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	794.2M	763.38M	766.78M	746.68M	589.84M	685.17M	817.76M	791.38M	646.22M	614.65M
Revenue Growth %	0.05%	-0.04%	0%	-0.03%	-0.21%	0.16%	0.19%	-0.03%	-0.18%	-0.05%
Non-Interest Expense	353.06M	361.77M	367.1M	375.21M	308.24M	315.8M	346.36M	339.12M	315.15M	309.79M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	89.18M	57.95M	48.87M	52.61M	11.63M	79.7M	133.79M	133.48M	77.99M	61.99M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.35%	-0.35%	-0.16%	0.08%	-0.78%	5.86%	0.68%	-0%	-0.42%	-0.21%
Pretax Income+	87.96M	56.99M	49.07M	33.86M	14.19M	76.41M	138.12M	141.03M	85.45M	69.02M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	31.32M	20.8M	12.7M	8.16M	5.29M	16.41M	34.84M	35.22M	21.63M	17.42M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	56.64M	36.19M	36.37M	25.7M	8.9M	60.01M	103.28M	105.81M	63.82M	51.6M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.52%	-0.36%	0%	-0.29%	-0.65%	5.74%	0.72%	0.02%	-0.4%	-0.19%
Net Income (Continuing)	56.64M	36.19M	36.37M	25.7M	8.9M	60.01M	103.28M	105.81M	63.82M	51.6M
EPS (Diluted)+	2.00	1.29	1.32	0.96	0.34	2.37	4.05	4.13	2.49	2.01
EPS Growth %	0.57%	-0.35%	0.02%	-0.27%	-0.65%	5.97%	0.71%	0.02%	-0.4%	-0.19%
EPS (Basic)	2.00	1.29	1.32	0.96	0.34	2.37	4.05	4.13	2.50	2.01
Diluted Shares Outstanding	56.65M	55.92M	55.25M	53.5M	52.14M	50.7M	51.04M	51.21M	51.29M	25.63M

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	52.66M	57.7M	22.36M	20.82M	72.28M	104.6M	109.92M	62.13M	69.71M	76.18M
Short Term Investments	0	0	0	0	0	0	1000K	1000K	1000K	0
Total Investments+	0	0	0	-2.11M	-137K	-1.08M	11.2M	110.58M	126.09M	60.03M
Investments Growth %	-1%	-	-	-	0.94%	-6.87%	11.39%	8.87%	0.14%	-0.52%
Long-Term Investments	0	0	0	-2.11M	-137K	-1.08M	0	0	34.77M	60.03M
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	25.4M	25.4M	25.39M	25.39M	25.39M	25.39M	25.39M	25.39M	25.39M	25.39M
Intangible Assets	19.73M	19.73M	19.74M	19.74M	19.74M	19.74M	19.74M	19.74M	19.74M	19.74M
PP&E (Net)	273.62M	270.2M	267.9M	245.25M	346.02M	340.18M	324.31M	338.03M	329.5M	319.41M
Other Assets	10.46M	9.8M	2.98M	3.69M	1.69M	2.66M	3.71M	2.84M	2.01M	2.23M
Total Current Assets	248.2M	243.1M	214.43M	216.29M	229.95M	295.28M	346.75M	359.45M	332.68M	309.93M
Total Non-Current Assets	329.2M	325.12M	316.01M	294.06M	392.84M	387.97M	373.15M	386M	412.23M	427.17M
Total Assets+	577.41M	568.22M	530.43M	510.35M	622.79M	683.25M	719.89M	745.45M	744.92M	737.1M
Asset Growth %	-0.05%	-0.02%	-0.07%	-0.04%	0.22%	0.1%	0.05%	0.04%	-0%	-0.01%
Return on Assets (ROA)	0.1%	0.06%	0.07%	0.05%	0.02%	0.09%	0.15%	0.14%	0.09%	0.07%
Accounts Payable	15.44M	16.96M	33.29M	34.17M	25.59M	37.79M	37.37M	28.57M	0	0
Total Debt+	41.84M	14.34M	1.1M	516K	152.23M	98.7M	90.08M	104.5M	128.28M	123.67M
Net Debt	-10.82M	-43.36M	-21.27M	-20.31M	79.96M	-5.9M	-19.83M	42.38M	58.57M	47.49M
Long-Term Debt	38.84M	11.61M	1.1M	516K	152.23M	98.7M	90.08M	104.5M	100.9M	96.26M
Short-Term Debt	3M	2.73M	584K	550K	27.37M	27.39M	0	0	27.39M	27.4M
Other Liabilities	23.02M	29.27M	24.21M	23.08M	3.52M	9.23M	6.84M	6.84M	4.37M	3.66M
Total Current Liabilities	123.35M	126.44M	121.26M	122.83M	138.98M	223.9M	215.64M	163.1M	153.7M	152.85M
Total Non-Current Liabilities	61.86M	40.88M	25.3M	23.6M	155.75M	107.92M	96.93M	111.35M	108.31M	101.98M
Total Liabilities	185.21M	167.33M	146.56M	146.42M	294.73M	331.83M	312.57M	274.45M	262M	254.83M
Total Equity+	392.2M	400.9M	383.87M	363.93M	328.06M	351.42M	407.32M	471.01M	482.92M	482.27M
Equity Growth %	0.06%	0.02%	-0.04%	-0.05%	-0.1%	0.07%	0.16%	0.16%	0.03%	-0%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.15%	0.09%	0.09%	0.07%	0.03%	0.18%	0.27%	0.24%	0.13%	0.11%
Book Value per Share	6.92	7.17	6.95	6.80	6.29	6.93	7.98	9.20	9.42	18.81
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	489K	490K	490K	491K	491K	492K	494K	494K	495K	496K
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	646.32M	661.98M	669.01M	647.71M	638.63M	655.35M	710.37M	769.82M	783.37M	784.88M
Accumulated OCI	-4.85M	-4.13M	-6.17M	-5.65M	-8.44M	-5.93M	-6.46M	-2.79M	-4.19M	-5.69M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	58.37M	78.63M	42.5M	55.25M	52.7M	129.91M	69.36M	100.66M	80.19M	61.7K
Operating CF Growth %	0.06%	0.35%	-0.46%	0.3%	-0.05%	1.47%	-0.47%	0.45%	-0.2%	-1%
Net Income	56.64M	36.19M	36.37M	25.7M	8.9M	60.01M	103.28M	105.81M	63.82M	51.6K
Depreciation & Amortization	19.35M	20.11M	19.83M	19.53M	16.86M	16.39M	15.99M	15.61M	15.96M	15.5K
Deferred Taxes	671K	3.51M	-106K	-3.51M	2.52M	3.01M	0	0	-205K	0
Other Non-Cash Items	-6.4M	7.67M	119K	10.69M	27.08M	111.5M	14.57M	-27.32M	-822K	-5.4K
Working Capital Changes	-13.58M	13.39M	-14.78M	-789K	-474K	-59.25M	-65.62M	5.27M	0	0
Cash from Investing+	-12.53M	-16.87M	-18.24M	-9.5M	-4.62M	-7.12M	-13.97M	-101.52M	-19.99M	-2.4K
Purchase of Investments	22.97M	0	0	0	0	0	0	0	-134.91M	8.9K
Sale/Maturity of Investments	1000K	0	0	0	0	0	0	0	1000K	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-165K	-676K	-6.29M	-534K	-1.35M	0	0	0	0	0
Other Investing	10.61M	1.45M	531K	154K	12.44M	4.91M	-584K	-87.64M	49K	0
Cash from Financing+	-69.11M	-57.34M	-66.89M	-47.34M	3.7M	-90.99M	-49M	-47.59M	-52.33M	-52.6K
Dividends Paid	-16.65M	-20.03M	-29.51M	-46.99M	-21.47M	-43.29M	-48.26M	-46.36M	-50.27M	-50.1K
Share Repurchases	-19.35M	-10.25M	-23.12M	-46K	-24.32M	-75K	-843K	-812K	0	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	0
Other Financing	-52.47M	-37.31M	-37.38M	-348K	25.17M	-47.7M	-743K	-1.23M	-2.06M	-2.5K
Net Change in Cash+	-23.52M	12.37M	-42.67M	-1.54M	51.45M	32.32M	6.28M	-48.25M	7.59M	0
Exchange Rate Effect	-252K	135K	-32K	52K	-325K	513K	-110K	201K	-279K	0
Cash at Beginning	76.18M	52.66M	65.03M	22.36M	20.82M	72.28M	104.6M	110.87M	62.62M	0
Cash at End	52.66M	65.03M	22.36M	20.82M	72.28M	104.6M	110.87M	62.62M	70.22M	0
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	35.24M	60.99M	30.01M	46.13M	36.99M	117.88M	55.97M	86.78M	70.59M	50.4K
FCF Growth %	-0%	0.73%	-0.51%	0.54%	-0.2%	2.19%	-0.53%	0.55%	-0.19%	-1%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	14.85%	9.13%	9.27%	6.87%	2.57%	17.66%	27.22%	24.09%	13.38%	10.69%
Return on Assets (ROA)	9.57%	6.32%	6.62%	4.94%	1.57%	9.19%	14.72%	14.44%	8.56%	6.96%
Net Interest Margin	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Efficiency Ratio	44.45%	47.39%	47.87%	50.25%	52.26%	46.09%	42.35%	42.85%	48.77%	50.4%
Equity / Assets	67.92%	70.55%	72.37%	71.31%	52.68%	51.43%	56.58%	63.18%	64.83%	65.43%
Book Value / Share	6.92	7.17	6.95	6.8	6.29	6.93	7.98	9.2	9.42	18.81
Dividend Payout	29.39%	55.34%	81.13%	182.85%	241.22%	72.14%	46.72%	43.81%	78.77%	0.1%

Revenue by Segment

	2025
Upholstery Furniture	300.81M
Upholstery Furniture Growth	-
Case Goods Furniture	175.53M
Case Goods Furniture Growth	-
Accent	116.76M
Accent Growth	-
Manufactured Product, Other	21.55M
Manufactured Product, Other Growth	-

Revenue by Geography

	2025
Wholesale	359.06M
Wholesale Growth	-

Frequently Asked Questions

Valuation & Price

Grayscale Ethereum Mini Trust (ETH) has a price-to-earnings (P/E) ratio of 15.1x. This is roughly in line with market averages.

Growth & Financials

Grayscale Ethereum Mini Trust (ETH) saw revenue decline by 4.9% over the past year.

Yes, Grayscale Ethereum Mini Trust (ETH) is profitable, generating $47.3M in net income for fiscal year 2025 (8.4% net margin).

Dividend & Returns

Grayscale Ethereum Mini Trust (ETH) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

Grayscale Ethereum Mini Trust (ETH) has a return on equity (ROE) of 10.7%. This is reasonable for most industries.

Industry Metrics

Grayscale Ethereum Mini Trust (ETH) has a net interest margin (NIM) of N/A. NIM has been under pressure due to interest rate environment.

Grayscale Ethereum Mini Trust (ETH) has an efficiency ratio of 50.4%. This is excellent, indicating strong cost control.

← Back to Screener

US Stock Screener

...