Companies: 10,795·Total market cap: $144.5T
Soluna Holdings, Inc.

Soluna Holdings, Inc.

SLNHNASDAQTechnology● Active
$1.37
+$0.03(+2.24%)
Market Cap$216113875
P/E Ratio—
52W High$5.14
52W Low$0.42
Free Cash FlowFinancialsRevenue

Soluna Holdings, Inc. (SLNH) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

SLNH · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was −$37.2M for FY2025 (fiscal year ending 2025-12-31), down 101.7% year-over-year The FCF margin was -125.2%.

FY2025 Free Cash Flow−$37.2M▼ -101.7% YoY
Trailing 12M (TTM)−$50.0Mtrailing 4 quarters sum
FCF Margin-125.2%−$37.2M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
slnh free cash flow history · slnh free cash flow chart · slnh free cash flow growth rate · slnh free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$37.2M▼ 101.7%-125.2%
FY2024−$18.4M▼ 17.1%-48.5%
FY2023−$15.8M▲ +77.3%-74.8%
FY2022−$69.5M▼ 34.4%-243.5%
FY2021−$51.7M▼ 6430.0%-360.5%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
slnh free cash flow 2025 · slnh free cash flow 2024 · slnh free cash flow 2023 · slnh operating cash flow

FCF valuation metrics

Soluna Holdings, Inc. (SLNH) reported negative free cash flow of −$0.04B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)
N/A
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
N/A
TTM FCF ÷ Shares Outstanding
Price / FCF
N/A
Share Price ÷ FCF per Share
EV / FCF (TTM)
N/A
Enterprise Value basis
!

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
slnh price to free cash flow · slnh free cash flow yield · slnh free cash flow per share · slnh price to cash flow ratio

Cash flow statement summary

For FY2025, Soluna Holdings, Inc. generated −$9.1M in operating cash flow and spent 28M in capital expenditures, yielding −$37.2M in free cash flow.

Operating Activities
−$9.1M
Cash from core business operations
2025-12-31
Investing Activities
−$31.9M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
+$119.4M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF (−$9.1M) − |CapEx| (28M) = FCF (−$37.2M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
slnh cash flow statement · slnh cash flow statement 2025 · slnh operating cash flow · slnh cash flow from operations

Free cash flow vs peers (Technology)

#CompanyFree Cash FlowYoY
#1
Soluna Holdings, Inc.
Soluna Holdings, Inc.YOU
SLNH
−$37.2M-101.7%
#2
Taiwan Semiconductor Manufacturing Company Limited
Taiwan Semiconductor Manufacturing Company Limited
TSM
$1.10T+26.1%#3
Apple Inc.
Apple Inc.
AAPL
$98.77B-9.2%#4
NVIDIA Corporation
NVIDIA Corporation
NVDA
$96.68B+58.9%#5
Microsoft Corporation
Microsoft Corporation
MSFT
$71.61B-3.3%#6
Broadcom Inc.
Broadcom Inc.
AVGO
$26.91B+38.6%
Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Soluna Holdings, Inc. (SLNH) reported free cash flow of −$37.2M for FY2025 (fiscal year ending 2025-12-31), down 101.7% year-over-year. The FCF margin was -125.2%.

Based on available data, Soluna Holdings, Inc. has maintained positive free cash flow for at least 7 fiscal year(s). FCF peaked at $1.9M in FY2018.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

SLNH free cash flow · 8 questions

Soluna Holdings, Inc. free cash flow was −$37.2M for FY2025, down 101.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$50.0M.

SLNH free cash flowSLNH FCFSLNH FCF 2025SLNH free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Soluna Holdings, Inc. · Soluna Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026