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Twenty One Capital (XXI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Twenty One Capital
NYSE•Consumer Defensive•Education & Training Services
$5.81+0.24(0.04%)Market closed
Market Cap
$1.20B
P/B
0.6x

Twenty One Capital, Inc. engages in the Bitcoin-related business. The company is involved in actively accumulating Bitcoin; and managing its Bitcoin holdings. It also develops educational materials and branded content for institutional and retail investor Bitcoin literacy. Twenty One Capital, Inc. is based in Austin, Texas.

D

How this company scores

WeakMetricSide Score: 29/100

Grade capped at D — Interest coverage below 1× (-6.7x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (12/25); weakest: Profitability (3/25).

Profitability3/25
Growth8/25
Balance Sheet & Red Flags12/25
Cash & Earnings Quality6/25
Strengths
Low leverage
Grade capped at D
  • Interest coverage below 1× (-6.7x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/B · 0.6x5y range 0.1x – 0.7x
P/B 0.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume
Market Cap $1.20B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$0
Q. Revenue
$0
TTM EBITDA
$-35.64M
TTM Op. Income
$-35.86M
Q. Op. Income
$-10.73M
TTM Net Income
$-1.49B
Q. Net Income
$-413.54M
EPS
$-0.74
3Q
Shares Out.
$215.74M

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
N/A
Op. Margin
-1073006100.0%
Net Margin
-41353927300.0%

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
N/A
P/B Ratio
0.6x
P/S of 0.0x and P/B of 0.6x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$2.66B
2Q
Cash
$106.13M
2Q
Long-Term Debt
$484.54M
2Q
Book Value
$2.18B
2Q
D/E Ratio
0.2
2Q
Debt/EBITDA
N/A
With $2.66B in assets and $484.54M in long-term debt, D/E is 0.2and book value is $2.18B — a conservative capital structure with a cushion to weather downturns. Across the last 3 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-7.93M
2Q
TTM Free Cash Flow
$-727.14M
FCF Margin
N/A
FCF / Net Income
0.5
TTM FCF of $-727.14M on $-7.93M in operating cash flow. The FCF / Net Income ratio of 0.5x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 0% — a weakening trend.

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Cash Burn

Watch

FCF turned negative in 3 of the last 4 quarters — occasional cash consumption.

Share Dilution

Red Flag

Shares outstanding increased 21573601000.0% — significant dilution, likely from stock compensation or capital raises.