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Capstone Holding Corp.

CAPS

Capstone Holding Corp. • NASDAQ
$0.91 ▲ 6.44% (+0.06)
Market Cap $4.94 M
52w High $16.18
52w Low $0.73
Dividend Yield 0%
P/E -0.11
Volume 84.79K
Outstanding Shares 5.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $13.654M ▲ $4.022M ▲ $-2.014M ▼ -14.75% ▼ $-0.35 ▼ $-1.302M ▼
Q2-2025 $12.852M ▲ $3.39M ▲ $-700K ▲ -5.447% ▲ $-0.13 ▲ $-146K ▲
Q1-2025 $7.899M ▼ $2.753M ▲ $-1.728M ▼ -21.876% ▼ $-46.88 ▼ $-1.312M ▼
Q4-2024 $10.313M ▼ $2.417M ▼ $-1.103M ▼ -10.695% ▼ $-7.2 ▼ $-101K ▼
Q3-2024 $12.318M $2.58M $34K 0.276% $-6.33 $506K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $730K ▼ $58.483M ▲ $31.326M ▲ $27.157M ▲
Q2-2025 $773K ▼ $51.885M ▼ $25.611M ▲ $26.274M ▼
Q1-2025 $1.744M ▲ $52.208M ▲ $25.236M ▼ $26.972M ▲
Q4-2024 $11K ▼ $47.221M ▼ $50.279M ▼ $-3.058M ▼
Q3-2024 $13K $51.534M $53.457M $-1.923M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.014M ▼ $0 ▲ $-2.439M ▼ $2.396M ▲ $-43K ▲ $0 ▲
Q2-2025 $-700K ▲ $-1.706M ▲ $-2K ▼ $737K ▼ $-971K ▼ $-1.708M ▲
Q1-2025 $-1.728M ▼ $-2.286M ▼ $0 ▲ $4.019M ▲ $1.733M ▲ $-2.286M ▼
Q4-2024 $-1.103M ▼ $2.845M ▲ $-19K ▼ $-2.828M ▼ $-2K ▼ $2.826M ▲
Q3-2024 $34K $2.29M $-18K $-2.26M $13K $2.272M

Five-Year Company Overview

Income Statement

Income Statement Capstone’s reported revenue is still very small and has not changed much over the past several years, suggesting an early or transition stage business rather than a mature operator. Gross profit is positive but thin, and operating income is essentially breakeven, which means the core operations are not yet generating meaningful earnings. Net income hovers around zero and the per‑share figures swing wildly, likely because of past share structure changes rather than real shifts in underlying performance. Overall, the income statement points to a company still in the “building the platform” phase, with scale and profitability yet to be proven in the historical numbers shown.

Balance Sheet

Balance Sheet The balance sheet is modest in size, with a small asset base and only a limited cushion of equity. Debt is present but not overwhelming relative to total assets, which indicates some use of leverage but not an obviously distressed profile from this snapshot alone. The tiny equity line suggests the company does not have a thick capital buffer, so its ability to absorb shocks or fund large expansions purely from its own balance sheet looks limited. In short, Capstone appears financially lean, which can be efficient but also leaves less room for error.

Cash Flow

Cash Flow Reported operating cash flow and free cash flow are essentially flat and negligible, which indicates the business has not yet shown strong cash‑generating power in recent years. With no recorded capital spending in this data, growth and acquisitions are likely being funded through other means rather than through reinvestment of large internally generated cash flows. This pattern is typical of a small, roll‑up style company that is still assembling its platform rather than running at full scale. It also means the company’s progress depends heavily on continued access to external capital and on eventually converting its strategy into steady, recurring cash generation.

Competitive Edge

Competitive Edge Capstone is positioning itself as a consolidator in a very fragmented building materials distribution market, especially in stone and masonry. Its strategy relies on building scale across many regions, which can create better purchasing power, more efficient logistics, and stronger relationships with larger customers than smaller local competitors can offer. The company’s portfolio of proprietary brands and value‑added services, such as marketing and logistics support for dealers, helps differentiate it from generic distributors and makes it harder for partners to switch. The flip side is execution risk: success depends on integrating many small acquisitions smoothly and maintaining service quality in a cyclical construction market.

Innovation and R&D

Innovation and R&D Innovation at Capstone is focused less on pure technology and more on how the business is organized and what products it offers. By consolidating distributors, building exclusive brands, and improving logistics and service, the company is trying to innovate in its business model rather than invent new materials. Its proprietary stone and veneer systems, which are designed to be easier and faster to install, address practical pain points for contractors and dealers, potentially supporting better pricing power and loyalty. Future innovation seems likely to come from expanding this exclusive product set and refining its distribution platform, rather than from heavy laboratory‑style research and development.

Summary

Overall, the numbers presented show a very small, lean company with minimal profits and no demonstrated cash‑flow engine yet, while the narrative describes an ambitious roll‑up strategy in a fragmented industry. The core appeal of the story lies in scale, acquisitions, and proprietary brands that could, if well executed, turn a regional distributor into a national platform with stronger margins. At the same time, the thin equity base, minimal historical cash generation, and dependence on continued acquisition activity highlight meaningful execution and financing risks. The key question for observers is whether Capstone can successfully convert its strategic plan and recent acquisitions into durable, growing earnings and cash flow over time, rather than relying mainly on the promise of future scale.

NEWS

November 24, 2025 · 9:00 AM UTC

Industry Research Signals Strong Demand Cycle Ahead as Capstone Enters 2026 with Expanded Scale and Margin Strength

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November 19, 2025 · 7:30 AM UTC

Capstone Releases Q3 Investor Presentation and Transcript Highlighting Strong Growth and Acquisition Momentum

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November 17, 2025 · 10:55 AM UTC

Capstone Reports Record Q3 Results With 46% EBITDA Growth and New Acquisition Momentum

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November 13, 2025 · 7:30 AM UTC

Capstone Expands Stone Distribution Platform Amid Strong Market Tailwinds

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November 10, 2025 · 1:21 PM UTC

NOVEMBER HARVARD CAPS / HARRIS POLL: 75% OF VOTERS OPPOSE GOVERNMENT SHUTDOWN, UP 5 PTS. FROM SEPTEMBER, WHILE CONGRESSIONAL APPROVAL FALLS TO LOWEST IN MORE THAN ONE YEAR

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