Financial stability is increasingly precarious, evidenced by a current ratio that plummeted from 10.07 in 2025Q3 to 0.33 in 2025Q4, alongside a staggering $592.0 billion deficit in retained earnings.
| Cash & Short Term Investments | 8.02B | 4.59M | 1.98M | 6.97M | 8.22M | 2.11M | 83.4K | 118.44M | 117.02M |
| Cash & Due from Banks | 8.02B | 4.59M | 1.98M | 6.97M | 8.22M | 2.11M | 83.4K | 567.22K | 428.39K |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 118.17M | 116.59M |
| Total Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 118.17M | 116.59M |
| Investments Growth % | - | - | - | - | - | - | -100% | 1.35% | - |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivables | 0 | 0 | 279.04K | 310.02K | 80.78K | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 0 | 7.62M | 1.62M | 10.72M | 51.51M | 51.52M | 51.08M | 403.53K | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 36.99M | 36.9M | 36.42M | 0 | 0 |
| Intangible Assets | 0 | 7.62M | 1.62M | 10.72M | 14.52M | 14.62M | 14.66M | 403.53K | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 54.31K | 22.12K | 0 |
| Other Assets | 292.73B | 0 | 0 | -15.66M | -9.71M | -9.71M | -4.98M | 17.59K | 116.59M |
| Total Current Assets | 13.57B | 5.14M | 3.64M | 8.93M | 11.2M | 4.01M | 748.29K | 1.02M | 470.34K |
| Total Non-Current Assets | 292.73B | 7.62M | 1.62M | 10.72M | 51.51M | 51.52M | 51.14M | 443.24K | 116.59M |
| Total Assets | 306.3B | 12.76M | 5.26M | 19.65M | 62.71M | 55.53M | 51.88M | 1.46M | 117.06M |
| Asset Growth % | 2399705.01% | 142.67% | -73.23% | -68.67% | 12.93% | 7.03% | 3455.64% | -98.75% | - |
| Return on Assets (ROA) | -294.16% | -68.45% | -160.06% | -94.04% | -34.38% | -20.26% | -95.21% | -24.46% | 0.11% |
| Accounts Payable | 1.56B | 1.93M | 1.89M | 1.8M | 586.61K | 8.53M | 4.1M | 212.65K | 0 |
| Total Debt | 251M | 154.5K | 1.05M | 1.34M | 1.96M | 3.78M | 3.53M | 369.03K | 0 |
| Net Debt | -7.77B | -4.43M | -921.74K | -5.63M | -6.27M | 1.67M | 3.44M | -567.22K | -428.39K |
| Long-Term Debt | 0 | 6.62K | 19.94K | 31.19K | 48.16K | 113.76K | 0 | 0 | 0 |
| Short-Term Debt | 251M | 147.89K | 1.03M | 1.31M | 1.91M | 3.67M | 3.53M | 369.03K | 0 |
| Other Liabilities | 25.95B | 0 | 0 | 31.19B | 0 | 43.09K | 0 | 4.03M | 4.03M |
| Total Current Liabilities | 40.93B | 3.5M | 5.06M | 5.66M | 19.7M | 21.42M | 9.64M | 9.14M | 208.13K |
| Total Non-Current Liabilities | 25.95B | 6.62K | 324.59K | 2.65M | 3.69M | 3.83M | 3.67M | 4.03M | 4.03M |
| Total Liabilities | 66.88B | 3.51M | 5.39M | 8.31M | 23.39M | 25.25M | 13.31M | 9.14M | 4.23M |
| Total Equity | 239.42B | 9.25M | -127.73K | 11.34M | 39.32M | 30.29M | 38.57M | -7.68M | 5M |
| Equity Growth % | 2587668.08% | 7343.16% | -101.13% | -71.15% | 29.83% | -21.48% | 602.43% | -253.54% | - |
| Equity / Assets (Capital Ratio) | 78.17% | 72.49% | -2.43% | 57.73% | 62.7% | 54.54% | 74.34% | -526.1% | 4.27% |
| Return on Equity (ROE) | -376.33% | -135.21% | -355.47% | -152.87% | -58.4% | -31.61% | -164.39% | - | 2.48% |
| Book Value per Share | 2932.25 | 101.07 | -3.37 | 1134.39 | 4765.81 | 6340.14 | 6641.00 | -1919.24 | 1250.00 |
| Tangible BV per Share | 2932.25 | 17.81 | -46.09 | 62.21 | -1477.38 | -4444.53 | -2154.09 | -2020.12 | 1250.00 |
| Common Stock | 2M | 318 | 54 | 375 | 3.4K | 2.62K | 1.38K | 410 | 420 |
| Additional Paid-in Capital | 0 | 153.69M | 130.12M | 121.64M | 107.18M | 78.01M | 75.89M | 3.84M | 0 |
| Retained Earnings | -592.04B | -141.52M | -127.34M | -107.41M | -68.68M | -48.36M | -37.47M | 1.16M | 120.66K |
| Accumulated OCI | -2.99B | -2.92M | -2.9M | -2.89M | 817.44K | 636.89K | 152.8K | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 100 | 0 | 0 | 0 | 0 | 0 | 108.87M | 107.83M |
Unsustainable Capital Consumption
According to recent SEC filings, Ethzilla Corp.'s total assets surged to $306.3 billion in 2025Q4 from $1.0 billion in 2025Q3, a dramatic expansion that appears driven by accounting adjustments rather than organic growth, warranting extreme caution regarding the underlying quality of the company's reported financial position.
The massive jump in asset valuation suggests a fundamental change in how the company accounts for its digital asset holdings or treasury management. Investors should monitor whether this expansion represents actual economic value or merely a reclassification of volatile assets that could be subject to rapid impairment.
As reported in financial statements, the company's current ratio plummeted to 0.33 in 2025Q4, down from 10.07 in the previous quarter, indicating a severe deterioration in the firm's ability to cover short-term obligations despite the headline $8.0 billion cash position reported in the most recent period.
This sharp decline in the current ratio suggests that current liabilities have grown significantly faster than liquid assets, potentially indicating that the company's cash is either restricted or committed to long-term obligations. The discrepancy between the cash balance and the liquidity ratio warrants further investigation into the accessibility of these funds.
Based on Ethzilla Corp.'s reported figures, retained earnings have reached a staggering deficit of $592.0 billion as of 2025Q4, reflecting a profound and persistent destruction of shareholder value that appears to be accelerating despite the company's recent strategic pivot toward Ethereum-based treasury management and gaming.
The accumulation of such a massive deficit in retained earnings suggests that the company's operational losses are not merely transitional but systemic. Investors should consider whether the current equity base is sustainable or if further dilution may be required to support the company's ongoing, high-burn business model.
Analysis of the balance sheet reveals that while the company reports $8.0 billion in cash, the lack of clarity regarding the composition of these assets suggests they may include illiquid digital tokens or staked positions that do not provide the operational flexibility typically associated with cash equivalents.
The reliance on digital assets as a primary treasury component introduces significant market risk that is not captured by traditional liquidity metrics. If these assets are subject to lock-up periods or regulatory volatility, the company's actual ability to meet its operational expenses may be significantly lower than the headline cash figure implies.
Quick answers to the most common questions about buying ETHZ stock.
As of 2025, Ethzilla Corp. (ETHZ) had total assets of $306.30B including $13.57B in current assets.
Ethzilla Corp. (ETHZ) carries total debt of $251.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ethzilla Corp. (ETHZ) has total shareholders' equity (book value) of $239.42B ($2932.25 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ethzilla Corp. (ETHZ) reported a current ratio of 0.33x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.