The company's capital structure remains under existential pressure, with total assets contracting by over 75% from the 2023Q4 peak of $67.9 million to $15.7 million in 2026Q1.
| Cash & Short Term Investments | 15.21M | 6.78M | 2.34M | 4.91M | 8.39M | 5.5M | 3M |
| Cash & Due from Banks | 5.9M | 6.78M | 2.34M | 4.91M | 8.39M | 5.5M | 3M |
| Short Term Investments | 1.42M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 3.88M | 4.03M | 4.98M | 393.85K | 5.94M | 1.46M | 1.32M |
| Investments Growth % | 807.04% | -18.99% | 1163.52% | -93.37% | 306.13% | 10.8% | - |
| Long-Term Investments | 8.37M | 4.03M | 4.98M | 393.85K | 5.94M | 1.46M | 1.32M |
| Accounts Receivables | 1.27M | 1.56M | 1.12M | 2.23M | 1.43M | 530.45K | 247.86K |
| Goodwill & Intangibles | 0 | 0 | 0 | 9.78M | 29.89M | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 6.06M | 19.27M | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 3.72M | 10.62M | 0 | 0 |
| PP&E (Net) | 508.1K | 547.19K | 706.68K | 944.08K | 1.07M | 6.35K | 2.35K |
| Other Assets | 346.15K | 429.84K | 3M | 82.66K | 730.29K | 0 | 0 |
| Total Current Assets | 12.38M | 12.2M | 4.54M | 12.83M | 10.23M | 6.04M | 3.25M |
| Total Non-Current Assets | 3.31M | 5.01M | 8.68M | 55.03M | 89.22M | 1.47M | 1.32M |
| Total Assets | 15.69M | 17.21M | 13.22M | 67.86M | 99.45M | 7.52M | 4.57M |
| Asset Growth % | -4.82% | 30.18% | -80.52% | -31.77% | 1222.39% | 64.39% | - |
| Return on Assets (ROA) | -23.71% | -14.21% | -119.19% | -20.66% | -65.68% | 54.35% | 111.81% |
| Accounts Payable | 1.04M | 361.19K | 216.33K | 794.71K | 2.65M | 43.63K | 108.53K |
| Total Debt | 666.67K | 710.51K | 11.88M | 15.02M | 58.59M | 0 | 0 |
| Net Debt | -5.23M | -6.07M | 9.53M | 10.11M | 50.2M | -5.5M | -3M |
| Long-Term Debt | 0 | 0 | 10.75M | 11M | 31.59M | 0 | 0 |
| Short-Term Debt | 185.9K | 0 | 255.76K | 3.01M | 25.99M | 0 | 0 |
| Other Liabilities | 1.63M | 1.94M | 8.74M | 12.96M | 12.17M | 0 | 0 |
| Total Current Liabilities | 6.85M | 6.5M | 5.3M | 7.85M | 49.57M | 181.5K | 220.95K |
| Total Non-Current Liabilities | 2.11M | 2.47M | 20.2M | 25.65M | 44.77M | 0 | 0 |
| Total Liabilities | 8.96M | 8.97M | 25.51M | 33.51M | 94.34M | 181.5K | 220.95K |
| Total Equity | 6.73M | 8.24M | -12.29M | 34.36M | 5.11M | 7.34M | 4.35M |
| Equity Growth % | 78.05% | 167.02% | -135.77% | 571.9% | -30.33% | 68.56% | - |
| Equity / Assets (Capital Ratio) | 42.87% | 47.86% | -92.96% | 50.63% | 5.14% | 97.59% | 95.17% |
| Return on Equity (ROE) | -303.81% | -26.24% | -437.93% | -87.56% | -564.21% | 56.22% | 117.48% |
| Book Value per Share | 1.54 | 2.82 | -4.43 | 16.14 | 5.39 | 7.84 | 4.65 |
| Tangible BV per Share | 1.54 | 2.82 | -4.43 | 11.54 | -26.09 | 7.84 | 4.65 |
| Common Stock | 451 | 428 | 278 | 273 | 2.37K | 0 | 0 |
| Additional Paid-in Capital | 131.42M | 131.15M | 108.47M | 105.92M | 44.81M | 0 | 0 |
| Retained Earnings | -124.7M | -122.92M | -120.76M | -71.57M | -39.7M | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 3 | 3 | 0 | 0 | 1 | 0 | 0 |
Liquidity and solvency insolvency
As reported in recent financial filings, SHFS has seen its total assets shrink from a peak of $67.9 million in 2023Q4 to just $15.7 million by 2026Q1, indicating a rapid and concerning erosion of the firm's underlying balance sheet capacity and market presence.
The precipitous decline in total assets suggests that the company is struggling to retain its core deposit base or maintain the scale necessary for its specialized compliance model. This contraction appears to be systemic rather than cyclical, as the firm has failed to replace departing assets with new, high-quality loan originations.
Based on the 2026Q1 financial data, the sudden emergence of a $1.1 million provision for loan losses, following multiple quarters of zero provisioning, suggests that the firm is finally recognizing latent credit deterioration within its specialized cannabis-related loan portfolio.
This shift in provisioning strategy implies that the credit quality of the loan book may be significantly worse than previously disclosed. Investors should monitor whether this provision is a one-time adjustment or the beginning of a sustained cycle of charge-offs that could further impair the company's thin equity base.
According to the company's balance sheet, the equity position has been severely compromised, with the firm reporting negative equity in several quarters during 2025, highlighting a precarious capital structure that leaves little room for error in the face of ongoing operational losses.
The volatility in the equity-to-assets ratio, which reached a negative 3.00 in 2025Q2, underscores the extreme fragility of the firm's capital position. Without a significant infusion of capital or a rapid return to profitability, the company may face severe limitations in its ability to meet regulatory capital requirements.
As indicated by the latest quarterly figures, cash and bank balances have dwindled to $5.9 million in 2026Q1, down from higher levels in previous periods, which raises significant concerns regarding the firm's ability to fund its ongoing compliance operations and meet short-term obligations.
The reliance on a shrinking cash pile to cover persistent operating losses suggests that the firm is approaching a liquidity crunch. The lack of a robust, liquid securities portfolio further limits the company's ability to generate contingent funding, leaving it highly vulnerable to any further revenue shocks.
Quick answers to the most common questions about buying SHFS stock.
As of 2025, SHF Holdings, Inc. (SHFS) had total assets of $17.2M including $12.2M in current assets.
SHF Holdings, Inc. (SHFS) carries total debt of $0.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SHF Holdings, Inc. (SHFS) has total shareholders' equity (book value) of $8.2M ($2.82 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SHF Holdings, Inc. (SHFS) reported a current ratio of 1.88x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.