WisdomTree (WT) financial statements
WisdomTree reported revenue of $494M in fiscal 2025, up 9.5% a year over 9 years.
Net income was $109M and the operating margin 35.3%, against 29.0% in 2016.
Free cash flow was $145M, and the company returned $17M in dividends and $103M in net buybacks.
The diluted share count rose 7% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from WisdomTree's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $219M | $228M | $274M | — | — | $304M | $301M | $349M | $428M | $494M |
| Cost of revenue | $41M | $42M | $57M | — | — | — | — | — | — | — |
| Gross profit | $178M | $186M | $217M | — | — | — | — | — | — | — |
| Selling, general and admin | — | — | — | — | — | — | $65M | $71M | $84M | $89M |
| Operating income | $63M | $49M | $61M | $54M | $55M | $89M | $60M | $87M | $137M | $174M |
| Interest expense | — | — | $8M | $11M | $10M | $12M | $15M | $15M | $19M | $30M |
| Pre-tax income | $56M | $58M | $51M | $121,000 | -$35M | $57M | $40M | $119M | $95M | $142M |
| Income tax | $29M | $31M | $14M | $11M | $433,000 | $7M | -$11M | $16M | $29M | $33M |
| Net income | $26M | $27M | $37M | -$10M | -$36M | $50M | $51M | $103M | $67M | $109M |
| EPS (diluted) | $0.19 | $0.20 | $0.23 | -$0.08 | -$0.25 | $0.31 | $0.31 | $0.64 | $0.33 | $0.75 |
| Diluted shares | 136M | 136M | 158M | 152M | 149M | 161M | 159M | 170M | 159M | 145M |
| Gross margin | 81.2% | 81.5% | 79.3% | — | — | — | — | — | — | — |
| Operating margin | 29.0% | 21.5% | 22.4% | — | — | 29.3% | 19.9% | 25.1% | 32.1% | 35.3% |
| Net margin | 11.9% | 11.9% | 13.4% | — | — | 16.4% | 16.8% | 29.4% | 15.6% | 22.1% |
Balance sheet
Fiscal years, from WisdomTree's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $93M | $54M | $78M | $75M | $73M | $141M | $132M | $129M | $39M | $39M |
| Receivables | $18M | $21M | $26M | $27M | $29M | $32M | $31M | $35M | $45M | $64M |
| Total current assets | $177M | $154M | $118M | $123M | $142M | $304M | $294M | $230M | $318M | $492M |
| Property, plant and equipment | $12M | $11M | $9M | $8M | $8M | $557,000 | $544,000 | $427,000 | $336,000 | $431,000 |
| Goodwill | $2M | $2M | $86M | $86M | $86M | $86M | $86M | $87M | $87M | $229M |
| Total assets | $250M | $255M | $938M | $935M | $897M | $1.0B | $1.0B | $944M | $1.0B | $1.5B |
| Total current liabilities | $44M | $57M | $63M | $79M | $74M | $84M | $148M | $103M | $109M | $282M |
| Total liabilities | $48M | $62M | $447M | $465M | $498M | $636M | $596M | $402M | $634M | $1.1B |
| Shareholders' equity | $201M | $193M | $358M | $337M | $266M | $269M | $306M | $409M | $400M | $414M |
| Net debt | -$93M | -$54M | -$78M | -$75M | -$73M | -$141M | -$132M | -$129M | -$39M | -$39M |
Cash flow
Fiscal years, from WisdomTree's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $55M | $49M | $37M | $57M | $47M | $75M | $55M | $86M | $113M | $148M |
| Capital spending | $1M | $295,000 | $71,000 | $47,000 | $472,000 | $293,000 | $220,000 | $2M | $2M | $3M |
| Free cash flow | $54M | $48M | $37M | $57M | $47M | $75M | $55M | $83M | $111M | $145M |
| Stock-based compensation | $15M | $15M | $13M | $12M | $12M | $10M | $10M | $16M | $21M | $22M |
| Dividends paid | $44M | $44M | $19M | $20M | $20M | $19M | $19M | $20M | $19M | $17M |
| Share buybacks (net) | -$39M | -$8M | -$3M | -$2M | -$31M | -$35M | -$3M | -$4M | -$63M | -$103M |
| Net borrowing | — | — | $200M | -$21M | -$179M | $0 | $0 | — | — | — |
| Free cash flow margin | 24.6% | 21.1% | 13.6% | — | — | 24.7% | 18.2% | 23.9% | 25.9% | 29.3% |
| Dividends per share | $0.32 | $0.32 | $0.12 | $0.13 | $0.14 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 |
Questions
What was WisdomTree's revenue in 2025?
$494M in fiscal 2025, from its 10-K filing.
How much free cash flow does WisdomTree generate?
$145M in fiscal 2025 (operating cash flow minus capital spending).
From WisdomTree's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.