Nuwellis, Inc. (NUWE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Nuwellis, Inc. (NUWE) stock price & volume — 10-year historical chart
Nuwellis, Inc. (NUWE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Nuwellis, Inc. (NUWE) competitors in Renal, dialysis, and blood purification — business model, growth, and fundamentals comparison
Nuwellis, Inc. (NUWE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Nuwellis, Inc. (NUWE) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 3.55M | 5M | 5.51M | 7.44M | 7.92M | 8.54M | 8.86M | 8.74M | 8.27M |
| Revenue Growth % | 175.64% | 40.67% | 10.26% | 35.02% | 6.45% | 7.85% | 3.76% | -1.4% | -5.38% |
| Cost of Goods Sold | 2.76M | 3.67M | 2.66M | 3.38M | 3.43M | 3.79M | 3.88M | 2.91M | 3.15M |
| COGS % of Revenue | 77.77% | 73.43% | 48.27% | 45.48% | 43.3% | 44.34% | 43.78% | 33.34% | 38.04% |
| Gross Profit | 790K▲ 0% | 1.33M▲ 68.1% | 2.85M▲ 114.7% | 4.06M▲ 42.3% | 4.49M▲ 10.7% | 4.75M▲ 5.9% | 4.98M▲ 4.8% | 5.83M▲ 16.9% | 5.12M▼ 12.0% |
| Gross Margin % | 22.23% | 26.57% | 51.73% | 54.52% | 56.7% | 55.66% | 56.22% | 66.66% | 61.96% |
| Gross Profit Growth % | 37.15% | 68.1% | 114.68% | 42.3% | 10.7% | 5.88% | 4.79% | 16.92% | -12.05% |
| Operating Expenses | 11.65M | 18.36M | 20.96M | 21.09M | 24.02M | 21.93M | 22.61M | 16.81M | 16.23M |
| OpEx % of Revenue | 327.92% | 367.43% | 380.28% | 283.36% | 303.21% | 256.65% | 255.11% | 192.38% | 196.25% |
| Selling, General & Admin | 10.17M | 15.31M | 16.29M | 17.42M | 19.04M | 17.58M | 17.19M | 0 | 13.52M |
| SG&A % of Revenue | 286.24% | 306.34% | 295.5% | 234.07% | 240.36% | 205.83% | 193.94% | - | 163.46% |
| Research & Development | 1.48M | 3.05M | 4.67M | 3.67M | 4.98M | 4.34M | 5.42M | 3.21M | 2.71M |
| R&D % of Revenue | 41.68% | 61.08% | 84.78% | 49.29% | 62.85% | 50.83% | 61.17% | 36.72% | 32.79% |
| Other Operating Expenses | 28K | 10K | 0 | -1K | 0 | 75K | 0 | 13.61M | 0 |
| Operating Income | -14.81M▲ 0% | -17.04M▼ 15.0% | -18.11M▼ 6.3% | -17.03M▲ 6.0% | -19.53M▼ 14.7% | -17.17M▲ 12.1% | -17.63M▼ 2.7% | -10.99M▲ 37.7% | -11.11M▼ 1.1% |
| Operating Margin % | -416.89% | -340.86% | -328.54% | -228.84% | -246.51% | -201% | -198.89% | -125.72% | -134.29% |
| Operating Income Growth % | 5.43% | -15.01% | -6.28% | 5.95% | -14.67% | 12.06% | -2.67% | 37.67% | -1.07% |
| EBITDA | -14.04M | -16.8M | -17.87M | -16.65M | -19.04M | -16.8M | -17.27M | -10.68M | -10.69M |
| EBITDA Margin % | -395.24% | -336.21% | -324.21% | -223.79% | -240.35% | -196.64% | -194.81% | -122.17% | -129.25% |
| EBITDA Growth % | 6.16% | -19.66% | -6.33% | 6.8% | -14.33% | 11.76% | -2.79% | 38.16% | -0.1% |
| D&A (Non-Cash Add-back) | 769K | 232K | 239K | 376K | 488K | 372K | 362K | 310K | 417K |
| EBIT | -10.86M | -17.04M | -18.11M | -17.03M | -19.55M | -5.27M | -16.72M | -10.84M | -11.11M |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | -9.25M | -3.48M | -5.61M | -10.55M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.54M | 0 | 0 | 0 | 0 | 9.25M | 3.48M | 5.61M | 10.55M |
| Other Income/Expense | 1.44M | 10K | 0 | 1.2M | -19K | 2.65M | -2.57M | -172K | -6.41M |
| Pretax Income | -13.38M▲ 0% | -17.03M▼ 27.3% | -18.11M▼ 6.3% | -15.83M▲ 12.6% | -19.55M▼ 23.5% | -14.52M▲ 25.7% | -20.2M▼ 39.2% | -11.16M▲ 44.8% | -17.52M▼ 57.0% |
| Pretax Margin % | -376.47% | -340.66% | -328.54% | -212.7% | -246.75% | -169.92% | -227.9% | -127.69% | -211.8% |
| Income Tax | 6K | 6K | 8K | 9K | 9K | 9K | 8K | 5K | 5K |
| Effective Tax Rate % | -0.04% | -0.04% | -0.04% | -0.06% | -0.05% | -0.06% | -0.04% | -0.04% | -0.03% |
| Net Income | -13.38M▲ 0% | -17.03M▼ 27.3% | -18.11M▼ 6.4% | -15.84M▲ 12.6% | -19.55M▼ 23.5% | -14.53M▲ 25.7% | -20.21M▼ 39.1% | -11.16M▲ 44.8% | -17.52M▼ 56.9% |
| Net Margin % | -376.64% | -340.78% | -328.69% | -212.82% | -246.86% | -170.02% | -227.99% | -127.75% | -211.81% |
| Net Income Growth % | 15.26% | -27.28% | -6.35% | 12.58% | -23.48% | 25.72% | -39.13% | 44.75% | -56.89% |
| Net Income (Continuing) | -13.38M | -17.03M | -18.11M | -15.84M | -19.55M | -14.53M | -20.21M | -11.16M | -17.52M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -999999.00▲ 0% | -999999.00▲ 0.0% | -411681.82▲ 58.8% | -20276.57▲ 95.1% | -10004.09▲ 50.7% | -2921.95▲ 70.8% | -360.07▲ 87.7% | -8.00▲ 97.8% | -25.39▼ 217.4% |
| EPS Growth % | 15.26% | 4.54% | 90.33% | 95.07% | 50.66% | 70.79% | 87.68% | 97.78% | -217.38% |
| EPS (Basic) | -999999.00 | -999999.00 | -411681.82 | -20276.57 | -10004.09 | -2921.95 | -360.07 | -8.00 | -25.39 |
| Diluted Shares Outstanding | 3 | 4 | 44 | 781 | 1.96K | 4.97K | 56.13K | 1.33M | 6.9M |
| Basic Shares Outstanding | 3 | 4 | 44 | 781 | 1.96K | 4.97K | 56.13K | 1.33M | 6.9M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Nuwellis, Inc. (NUWE) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 17.86M | 8.13M | 4.04M | 18.54M | 28.13M | 22.77M | 8.21M | 8.86M | 5.19M |
| Cash & Short-Term Investments | 15.6M | 5.48M | 1.28M | 14.44M | 24.2M | 18.31M | 3.8M | 5.09M | 1.08M |
| Cash Only | 15.6M | 5.48M | 1.28M | 14.44M | 8.74M | 17.74M | 3.8M | 5.09M | 1.08M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 15.46M | 569K | 0 | 0 | 0 |
| Accounts Receivable | 545K | 786K | 799K | 905K | 750K | 1.41M | 1.95M | 1.73M | 1.49M |
| Days Sales Outstanding | 55.99 | 57.4 | 52.92 | 44.39 | 34.56 | 60.07 | 80.34 | 72.12 | 65.89 |
| Inventory | 1.59M | 1.66M | 1.8M | 2.96M | 2.84M | 2.66M | 2M | 1.72M | 1.91M |
| Days Inventory Outstanding | 209.78 | 164.9 | 246.58 | 318.94 | 302.54 | 256.41 | 187.81 | 215.19 | 221.6 |
| Other Current Assets | 136K | 203K | -1 | 237K | 0 | 396K | 461K | 0 | 698K |
| Total Non-Current Assets | 591K | 649K | 1.57M | 1.48M | 2.29M | 1.9M | 1.56M | 1.01M | 932K |
| Property, Plant & Equipment | 570K | 536K | 1.43M | 1.46M | 2.27M | 1.88M | 1.44M | 988K | 661K |
| Fixed Asset Turnover | 6.23x | 9.32x | 3.85x | 5.11x | 3.49x | 4.54x | 6.15x | 8.85x | 12.51x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 21K | 113K | 133K | 21K | 21K | 21K | 120K | 21K | 271K |
| Total Assets | 18.45M▲ 0% | 8.78M▼ 52.4% | 5.6M▼ 36.2% | 20.01M▲ 257.2% | 30.42M▲ 52.0% | 24.67M▼ 18.9% | 9.77M▼ 60.4% | 9.86M▲ 1.0% | 6.12M▼ 38.0% |
| Asset Turnover | 0.19x | 0.57x | 0.98x | 0.37x | 0.26x | 0.35x | 0.91x | 0.89x | 1.35x |
| Asset Growth % | 147.02% | -52.45% | -36.17% | 257.23% | 51.99% | -18.88% | -60.4% | 0.96% | -37.98% |
| Total Current Liabilities | 2.09M | 2.84M | 3.35M | 3.58M | 3.31M | 4.69M | 3.17M | 2.56M | 3.03M |
| Accounts Payable | 862K | 1.13M | 1.49M | 1.1M | 1.41M | 2.25M | 2.38M | 1.64M | 2.23M |
| Days Payables Outstanding | 113.87 | 112.68 | 204.18 | 118.32 | 150.47 | 216.32 | 223.83 | 205.42 | 258.26 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 261K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 208K | 1.71M | 85K | 66K | 36K | 58K | 576K | 41K | 545K |
| Current Ratio | 8.54x | 2.86x | 1.20x | 5.17x | 8.50x | 4.86x | 2.59x | 3.46x | 1.71x |
| Quick Ratio | 7.78x | 2.28x | 0.67x | 4.35x | 7.65x | 4.29x | 1.96x | 2.79x | 1.08x |
| Cash Conversion Cycle | 151.89 | 109.61 | 95.32 | 245.01 | 186.63 | 100.16 | 44.32 | 81.89 | 29.23 |
| Total Non-Current Liabilities | 126K | 1.13M | 261K | 109K | 1.16M | 7.63M | 3.39M | 775K | 456K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 67K |
| Capital Lease Obligations | 0 | 0 | 261K | 109K | 984K | 760K | 544K | 307K | 67K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 126K | 0 | 0 | 0 | 179K | 6.87M | 2.84M | 468K | 389K |
| Total Liabilities | 2.22M | 2.84M | 3.61M | 3.69M | 4.47M | 12.32M | 6.56M | 3.33M | 3.49M |
| Total Debt | 0 | 0 | 447K | 339K | 1.18M | 984K | 760K | 545K | 328K |
| Net Debt | -15.6M | -5.48M | -832K | -14.1M | -7.57M | -16.75M | -3.04M | -4.55M | -757K |
| Debt / Equity | - | - | 0.22x | 0.02x | 0.05x | 0.08x | 0.24x | 0.08x | 0.13x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -5.82x | - | - | - | - | -1.86x | -5.06x | -1.96x | -1.05x |
| Total Equity | 16.24M▲ 0% | 5.94M▼ 63.4% | 1.99M▼ 66.5% | 16.32M▲ 720.0% | 25.95M▲ 59.0% | 12.36M▼ 52.4% | 3.21M▼ 74.0% | 6.53M▲ 103.4% | 2.62M▼ 59.8% |
| Equity Growth % | 824.19% | -63.44% | -66.48% | 720% | 59.01% | -52.38% | -74.01% | 103.36% | -59.82% |
| Book Value per Share | 999999.00 | 999999.00 | 45227.27 | 20893.73 | 13258.56 | 2485.82 | 57.21 | 4.92 | 0.38 |
| Total Shareholders' Equity | 16.24M | 5.94M | 1.99M | 16.32M | 25.95M | 12.36M | 3.21M | 6.53M | 2.62M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 0 | 0 |
| Retained Earnings | -182.36M | -199.39M | -217.5M | -233.34M | -252.89M | -267.42M | -287.63M | -298.79M | -316.31M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.23M | 1.22M | 1.21M | -7K | -35K | 38K | -31K | -47K | 8K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nuwellis, Inc. (NUWE) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -11.92M | -14.56M | -16.37M | -16.57M | -17.84M | -15.15M | -17.94M | -9.59M | -10.81M |
| Operating CF Margin % | -335.49% | -291.32% | -296.99% | -222.71% | -225.26% | -177.33% | -202.36% | -109.74% | -130.71% |
| Operating CF Growth % | 26.84% | -22.15% | -12.41% | -1.25% | -7.67% | 15.1% | -18.4% | 46.53% | -12.71% |
| Net Income | -13.38M | -17.03M | -18.11M | -15.84M | -19.55M | -14.53M | -20.21M | -11.16M | -17.52M |
| Depreciation & Amortization | 769K | 232K | 239K | 376K | 488K | 372K | 362K | 310K | 417K |
| Stock-Based Compensation | 499K | 2.09M | 1.51M | 1.35M | 1.31M | 862K | 670K | 478K | 127K |
| Deferred Taxes | 0 | 0 | -2.05M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.54M | 2.32M | 2.05M | -1.16M | 13K | -2.46M | 2.66M | 1.09M | 6.42M |
| Working Capital Changes | -2.35M | 153K | -4K | -1.3M | -104K | 598K | -1.42M | -305K | -253K |
| Change in Receivables | -263K | -241K | -13K | -106K | 155K | -656K | -545K | 224K | 234K |
| Change in Inventory | -911K | -70K | -343K | -1.42M | -143K | 140K | 697K | 279K | -192K |
| Change in Payables | -1.18M | 545K | 334K | 115K | 0 | 0 | -1.5M | 0 | 406K |
| Cash from Investing | -259K | -198K | -490K | -267K | -15.72M | 14.73M | 330K | -60K | -90K |
| Capital Expenditures | -259K | -198K | -490K | -298K | -219K | -122K | -149K | -60K | -90K |
| CapEx % of Revenue | 7.29% | 3.96% | 8.89% | 4% | 2.76% | 1.43% | 1.68% | 0.69% | 1.09% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 31K | 0 | 0 | -99K | 0 | 0 |
| Cash from Financing | 26.45M | 4.65M | 12.66M | 30.02M | 27.87M | 9.42M | 3.68M | 10.96M | 6.94M |
| Debt Issued (Net) | 0 | 0 | 0 | -20K | -26K | -26K | -28K | 0 | 0 |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 1.99M | 0 | 0 | 4.12M | 1K | 0 | 120K | 2.53M | 0 |
| Net Change in Cash | 14.27M▲ 0% | -10.12M▼ 170.9% | -4.2M▲ 58.5% | 13.16M▲ 413.2% | -5.7M▼ 143.3% | 8.99M▲ 257.9% | -13.94M▼ 254.9% | 1.29M▲ 109.3% | -3.9M▼ 401.5% |
| Free Cash Flow | -12.18M▲ 0% | -14.76M▼ 21.2% | -16.86M▼ 14.2% | -16.87M▼ 0.1% | -18.06M▼ 7.1% | -15.27M▲ 15.5% | -18.18M▼ 19.1% | -9.65M▲ 46.9% | -10.9M▼ 12.9% |
| FCF Margin % | -342.78% | -295.28% | -305.88% | -226.72% | -228.03% | -178.75% | -205.16% | -110.42% | -131.8% |
| FCF Growth % | 25.78% | -21.18% | -14.22% | -0.08% | -7.07% | 15.45% | -19.08% | 46.93% | -12.94% |
| FCF per Share | -999999.00 | -999999.00 | -383113.64 | -21600.51 | -9229.43 | -3072.02 | -324.01 | -7.27 | -1.58 |
| FCF Conversion (FCF/Net Income) | 0.89x | 0.85x | 0.90x | 1.05x | 0.91x | 1.04x | 0.89x | 0.86x | 0.62x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 6K | 2K | 4K | 10K | 11K | 9K | 12K | 7K | 0 |
Nuwellis, Inc. (NUWE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -226.77% | -148.73% | -153.62% | -457.08% | -173% | -92.53% | -75.84% | -259.62% | -229.24% | -382.72% |
| Return on Invested Capital (ROIC) | -2706.57% | -2062.95% | -2325.2% | -1682.71% | -756.13% | -142.17% | -184.16% | -7732.46% | -766.25% | -433.04% |
| Gross Margin | 44.69% | 22.23% | 26.57% | 51.73% | 54.52% | 56.7% | 55.66% | 56.22% | 66.66% | 61.96% |
| Net Margin | -1225.14% | -376.64% | -340.78% | -328.69% | -212.82% | -246.86% | -170.02% | -227.99% | -127.75% | -211.81% |
| Debt / Equity | - | - | - | 0.22x | 0.02x | 0.05x | 0.08x | 0.24x | 0.08x | 0.13x |
| Interest Coverage | -31.08x | -5.82x | - | - | - | - | -1.86x | -5.06x | -1.96x | -1.05x |
| FCF Conversion | 1.03x | 0.89x | 0.85x | 0.90x | 1.05x | 0.91x | 1.04x | 0.89x | 0.86x | 0.62x |
| Revenue Growth | 2084.75% | 175.64% | 40.67% | 10.26% | 35.02% | 6.45% | 7.85% | 3.76% | -1.4% | -5.38% |
Nuwellis, Inc. (NUWE) stock FAQ — growth, dividends, profitability & financials explained
Nuwellis, Inc. (NUWE) reported $8.3M in revenue for fiscal year 2025. This represents a 35195% increase from $0.0M in 2004.
Nuwellis, Inc. (NUWE) saw revenue decline by 5.4% over the past year.
Nuwellis, Inc. (NUWE) reported a net loss of $17.5M for fiscal year 2025.
Nuwellis, Inc. (NUWE) has a return on equity (ROE) of -382.7%. Negative ROE indicates the company is unprofitable.
Nuwellis, Inc. (NUWE) had negative free cash flow of $10.9M in fiscal year 2025, likely due to heavy capital investments.
Nuwellis, Inc. (NUWE) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates