A Business at a Glance
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SWK Holdings Corp
SWKH
SWK Holdings Corp (SWKH) has a current P/E ratio of 9.5, compared to its historical median P/E of 12.5. The stock is currently considered Fair based on its historical valuation range.
SWK Holdings Corp (SWKH) has a 5-year average return on invested capital (ROIC) of 4.8%. This is below average and may indicate limited pricing power.
SWK Holdings Corp (SWKH) has a market capitalization of $201M. It is classified as a small-cap stock.
Yes, SWK Holdings Corp (SWKH) pays a dividend with a trailing twelve-month yield of 24.39%. The company also returns capital through share buybacks, with a buyback yield of 1.52%.
Based on historical P/E analysis, SWK Holdings Corp (SWKH) appears fair. The current P/E of 9.5 is 24% below its historical median of 12.5. The estimated fair value CAGR (P/E method) is 13.3%.
SWK Holdings Corp (SWKH) operates in the Miscellaneous Business Credit Institution industry, within the Financials sector.
SWK Holdings Corp (SWKH) reported annual revenue of $41 million in its most recent fiscal year, based on SEC EDGAR filings.
SWK Holdings Corporation (the “Company,” “we,” or “us”) was incorporated in July 1996 in California and reincorporated in Delaware in September 1999. In July 2012, we commenced a strategy of building a specialty finance and asset management business. In August 2019, we commenced a complementary strategy of building a pharmaceutical development, manufacturing and intellectual property licensing business. Our operations comprise two reportable segments: “Finance Receivables” and “Pharmaceutical Development.” We evaluate and invest in a broad range of healthcare related companies and products with innovative intellectual property, including the biotechnology, medical device, medical diagnostics and related tools, animal health and pharmaceutical industries (collectively, “life sciences”). We allocate capital to each segment in order to generate income through the sales of life science products by third parties and related earned income sources. We are headquartered in Dallas, Texas.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 41M | 41M | 45M | 38M | 41M | 56M |
| Net Income | -2.5M | -2.5M | 13M | 16M | 13M | 26M |
| EPS | $-0.21 | $-0.21 | $1.09 | $1.25 | $1.05 | $2.02 |
| Free Cash Flow | 27M | 27M | 23M | 14M | 7.9M | 33M |
| ROIC | -1.1% | -0.9% | 4.2% | 5.4% | 4.9% | 10.2% |
| Gross Margin | - | - | - | - | - | 90.0% |
| Debt/Equity | 0.14 | 0.14 | 0.14 | 0.16 | 0.01 | 0.00 |
| Dividends/Share | $4.07 | $4.00 | $0.00 | - | - | - |
| Operating Income | 20M | 20M | 12M | 15M | 9.5M | 2.0M |
| Operating Margin | 48.9% | 48.9% | 25.8% | 38.8% | 22.9% | 3.5% |
| ROE | -1.1% | -1.0% | 4.7% | 5.7% | 4.9% | 10.2% |
| Shares Outstanding | 12M | 12M | 12M | 13M | 13M | 13M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 17M | 23M | 22M | 37M | 26M | 31M | 37M | 56M | 41M | 38M | 45M | 41M | 41M |
| Gross Margin | N/A | 25.5% | 56.5% | 77.3% | 46.0% | 92.8% | 87.6% | 90.0% | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | 1.2M | 4.3M | 7.3M | 7.0M | 3.4M | 2.2M | 1.6M | 1.6M |
| SG&A | 3.3M | 3.4M | 2.8M | 4.1M | 4.9M | 7.4M | 11M | 14M | 13M | 11M | 11M | 15M | 15M |
| EBIT | 14M | -1.1M | 10M | 24M | 6.2M | 2.2M | -1.1M | 2.0M | 9.5M | 15M | 12M | 20M | 20M |
| Op. Margin | 81.2% | -4.6% | 46.5% | 64.0% | 24.0% | 7.2% | -3.1% | 3.5% | 22.9% | 38.8% | 25.8% | 48.9% | 48.9% |
| Net Income | 21M | -7.4M | 29M | 3.0M | 6.2M | 23M | 5.2M | 26M | 13M | 16M | 13M | -2.5M | -2.5M |
| Net Margin | 119.3% | -31.4% | 129.1% | 8.1% | 23.8% | 73.7% | 14.2% | 46.2% | 32.5% | 42.1% | 30.0% | -6.1% | -6.1% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.4M | 0 | 559K | 559K |
| Returns on Capital | |||||||||||||
| ROIC | 7.5% | -0.6% | 5.0% | 6.9% | 2.9% | 10.1% | 2.2% | 10.2% | 4.9% | 5.4% | 4.2% | -0.9% | -1.1% |
| ROE | N/A | N/A | N/A | N/A | N/A | 10.1% | 2.2% | 10.2% | 4.9% | 5.7% | 4.7% | -1.0% | -1.1% |
| ROA | 16.6% | -4.0% | 14.8% | 1.5% | 2.9% | 9.6% | 2.0% | 9.3% | 4.6% | 5.0% | 4.0% | -0.8% | -0.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 5.1M | 11M | 9.6M | 19M | 20M | 19M | 19M | 34M | 8.2M | 15M | 23M | 27M | 27M |
| Free Cash Flow | 5.1M | 11M | 9.6M | 19M | 20M | 18M | 15M | 33M | 7.9M | 14M | 23M | 27M | 27M |
| Owner Earnings | 4.3M | 11M | 9.3M | 19M | 19M | 13M | 6.4M | 29M | 5.1M | 12M | 21M | 26M | 26M |
| CapEx | 1K | 50K | 0 | 0 | 0 | 48K | 3.9M | 1.1M | 297K | 496K | 138K | 512K | 512K |
| Maint. CapEx | 3K | 10K | 0 | 0 | 47K | 5.0M | 12M | 4.1M | 2.6M | 2.6M | 1.4M | 40K | 40K |
| Growth CapEx | 0 | 40K | N/A | N/A | N/A | 0 | 0 | 0 | 0 | 0 | 0 | 472K | 472K |
| D&A | 3K | 10K | 0 | 0 | 47K | 5.0M | 12M | 4.1M | 2.6M | 2.6M | 1.4M | 40K | 40K |
| CapEx/OCF | 0.0% | 0.4% | N/A | N/A | N/A | 0.3% | 20.4% | N/A | 3.6% | 3.3% | 0.6% | N/A | 1.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 49M | 49M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 24.4% |
| Share Buybacks | 0 | 0 | 0 | 0 | 1.4M | 883K | 2.0M | 0 | 1.1M | 6.3M | 6.0M | 3.1M | 3.1M |
| Buyback Yield | N/A | N/A | 0.0% | N/A | 1.5% | 0.7% | 1.5% | 0.0% | 0.0% | 3.8% | 4.1% | 0.0% | 1.5% |
| Stock-Based Comp | 844K | 640K | 363K | 300K | 267K | 530K | 728K | 1.2M | 500K | 509K | 944K | 1.2M | 1.2M |
| Debt Repayment | 0 | 0 | 0 | 0 | 469K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -62M | N/A | N/A | N/A | -759K | 8.4M | 17M | -43M | -3.8M | 41M | 33M | -9.8M | -9.8M |
| Cash & Equiv. | 59M | 47M | 32M | 31M | 20M | 11M | 3.0M | 43M | 6.2M | 4.5M | 5.9M | 43M | 43M |
| Long-Term Debt | 1K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 33M | 33M | 33M | 33M |
| Debt/Equity | N/A | N/A | N/A | N/A | N/A | 0.08 | 0.08 | 0.00 | 0.01 | 0.16 | 0.14 | 0.14 | 0.14 |
| Interest Coverage | 24.4 | -2.9 | N/A | N/A | 39.0 | 6.5 | -2.5 | 5.3 | 27.9 | 7.9 | 2.5 | 4.2 | 4.2 |
| Equity | N/A | N/A | N/A | N/A | N/A | 237M | 241M | 267M | 280M | 280M | 289M | 235M | 235M |
| Total Assets | 188M | 180M | 209M | 210M | 216M | 254M | 274M | 283M | 300M | 334M | 332M | 272M | 272M |
| Total Liabilities | N/A | N/A | N/A | N/A | N/A | 18M | 33M | 15M | 20M | 54M | 44M | 37M | 37M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | 25M | 13M | 10.0M | 8.2M | 6.5M | 0 | N/A | N/A |
| Retained Earnings | -4.3B | -4.3B | -4.2B | -4.2B | -4.2B | -4.2B | -4.2B | -4.2B | -4.2B | -4.1B | -4.1B | -4.2B | -4.2B |
| Working Capital | N/A | N/A | 0 | N/A | N/A | 13M | -8.7M | 0 | 4.0M | 7.9M | 15M | 0 | 0 |
| Current Assets | N/A | N/A | 0 | N/A | N/A | 16M | 6.7M | 0 | 10M | 12M | 20M | 0 | 0 |
| Current Liabilities | 864K | 788K | 0 | 1.8M | 2.6M | 3.1M | 15M | 0 | 6.3M | 3.9M | 5.6M | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 15.86 | -0.57 | 2.22 | 0.23 | 0.47 | 1.85 | 0.40 | 2.02 | 1.05 | 1.25 | 1.09 | -0.21 | -0.21 |
| Owner EPS | 3.27 | 0.82 | 0.71 | 1.45 | 1.47 | 1.07 | 0.50 | 2.26 | 0.40 | 0.93 | 1.67 | 2.16 | 2.16 |
| Book Value | N/A | N/A | N/A | N/A | N/A | 19.30 | 18.49 | 20.82 | 21.79 | 22.06 | 23.33 | 19.49 | 19.49 |
| Cash Flow/Share | 3.91 | 0.87 | 0.74 | 1.47 | 1.49 | 1.51 | 1.48 | 2.67 | 0.64 | 1.17 | 1.86 | 2.26 | -0.21 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 4.00 | 4.07 |
| Shares Out. | 1.3M | 12.9M | 13.0M | 13.2M | 13.2M | 12.3M | 13.0M | 12.8M | 12.8M | 12.7M | 12.4M | 12.1M | 12.1M |
| Valuation | |||||||||||||
| P/E Ratio | 3.0 | N/A | N/A | 34.9 | 14.9 | 5.0 | 26.3 | N/A | 12.5 | 10.4 | 10.9 | N/A | -79.4 |
| P/FCF | 2.0 | 7.4 | N/A | 4.3 | 3.7 | 4.8 | 7.1 | N/A | 16.9 | 9.1 | 5.1 | N/A | 7.5 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13.0 | 14.9 | N/A | 9.4 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | 0.5 | 0.6 | N/A | 601.2 | 0.6 | 0.5 | N/A | 0.9 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | 3.3 | 3.5 | N/A | N/A | N/A | N/A | N/A | 4.9 |
| FCF Yield | 8.2% | 10.6% | N/A | 18.3% | 21.3% | 15.6% | 11.2% | N/A | 0.0% | 8.8% | 15.5% | N/A | 13.3% |
| Market Cap | 63M | 105M | 0 | 106M | 92M | 119M | 137M | 0 | 168.3B | 164M | 148M | 0 | 201M |
| Avg. Price | 7.11 | 8.48 | 0.00 | 6.29 | 5.97 | 6.30 | 7.75 | 0.00 | 10.77 | 9.98 | 9.89 | 0.00 | 16.68 |
| Year-End Price | 7.65 | 6.43 | 0.00 | 6.37 | 5.55 | 7.30 | 8.34 | 0.00 | 10.41 | 10.25 | 9.37 | 0.00 | 16.68 |
SWK Holdings Corp passes 4 of 9 quality checks, suggesting mixed fundamentals.
SWK Holdings Corp trades at 9.5x trailing earnings, compared to its 15-year median P/E of 12.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 8.7x vs a median of 5.1x. The company's 5-year average ROIC is 4.8% with a gross margin of 90.0%. Total shareholder yield (dividends + buybacks) is 25.9%. At current prices, the estimated annualized return to fair value is +6.6%.
SWK Holdings Corp (SWKH) has a net profit margin of -6.1%. The company is currently unprofitable.
SWK Holdings Corp (SWKH) generated $27 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SWK Holdings Corp (SWKH) has a debt-to-equity ratio of 0.14. This indicates a conservatively financed balance sheet.
SWK Holdings Corp (SWKH) reported earnings per share (EPS) of $-0.21 in its most recent fiscal year.
SWK Holdings Corp (SWKH) has a return on equity (ROE) of -1.0%. A negative ROE may indicate losses or negative equity.
SWK Holdings Corp (SWKH) has a 5-year average gross margin of 90.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for SWK Holdings Corp (SWKH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SWK Holdings Corp (SWKH) has a book value per share of $19.49, based on its most recent annual SEC filing.
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