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Stablecoin Development Corp key statistics and ratios

In fiscal 2024, Stablecoin Development Corp had an operating margin of -75.4% and a current ratio of 0.68. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 2024LTMSept 2025
Gross margin———0.1%—53.9%71.2%79.3%84.7%88.0%73.7%60.0%63.8%54.0%58.2%66.3%—
Operating margin17.5%−46.3%−39.2%−119.8%−475.9%<−999%−482.5%−92.3%−40.1%−62.9%−142.4%−64.7%−86.8%−100.1%−39.2%−75.4%−84.3%
Net margin17.2%−44.2%−46.1%−101.4%−493.0%<−999%−433.1%−110.5%−40.6%−52.3%−146.4%−111.1%−57.1%−73.6%−92.2%−73.8%33.2%
Free-cash-flow margin−15.2%18.7%−29.6%−96.3%−402.9%<−999%−426.4%−99.4%−35.7%−44.9%−120.4%−47.8%−90.6%−47.0%−39.7%−76.7%−76.8%
Return on equity20.2%−36.1%−51.3%−60.1%−142.2%———−152.7%−173.4%—−166.1%−51.8%−102.4%−139.0%——
Return on assets—−27.8%−32.3%−39.9%−92.0%−131.1%−300.8%−128.6%−58.2%−67.3%−93.9%−83.4%−29.7%−52.5%−75.8%−116.0%93.9%
Asset turnover—0.630.700.390.190.090.691.161.431.290.640.750.520.710.821.572.83
Current ratio—5.055.135.764.082.080.983.351.812.241.655.033.832.661.670.682.00
Debt to equity0.0%1.0%0.0%0.0%0.0%0.0%—0.0%0.0%0.0%314.8%0.0%1.0%0.0%34.3%—0.0%
Effective tax rate0.3%————————————————
R&D as % of revenue46.8%88.3%89.9%133.8%382.9%899.7%130.7%11.5%2.2%2.1%2.8%2.9%0.4%1.2%0.3%0.4%—
SG&A as % of revenue———86.2%194.8%752.8%412.9%——————————
Capital spending as % of revenue4.7%2.1%1.1%2.1%4.3%6.5%2.8%1.3%1.3%0.4%0.3%0.3%0.5%0.8%0.2%0.1%0.0%
Free cash flow ÷ net income−88.2%———————————————−231.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

28 /100

Weak moat

How hard Stablecoin Development's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -58.5% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 68.9%, moving by 10.8 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -88.0%; its worst year was -161.0%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -77.8% of revenue.

  • Discipline 11 / 20

    The diluted share count rose 0.4% over five years; stock-based pay has been a median 6.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (33 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

More: Diversified Financial Services stocks compared, Financials sector, rankings of US companies

Figures from Stablecoin Development Corp's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Stablecoin Development Corp.