What is Upexi's debt-to-equity?

Upexi (UPXI) reported debt-to-equity of 4.4× in Q4 2025.

How has Upexi's debt-to-equity changed year-over-year?

Upexi's debt-to-equity increased by 674.5% year-over-year, from 0.6× to 4.4×.

What is the long-term trend for Upexi's debt-to-equity?

Over 4 years (2021 to 2025), Upexi's debt-to-equity has grown at a 85.8% compound annual growth rate (CAGR), from 0× to 0.2×.

What does debt-to-equity mean?

Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

Upexi UPXI Debt-to-equity

Debt-to-equity at other companies

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0.5×0.0×

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0.2×0.0×

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12.5×+12.5×

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0.3×+0.2×

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Asset EntitiesASST

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Other financials

Income statement

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Revenue$4.6M+44.2%

Gross profit$4.4M+179%

Operating income-$106.8M-2,877%

Net income-$109.3M-2,754%

EPS (diluted)-$1.67+41.8%

Balance sheet

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Cash & equivalents$3.5M+1,412%

Total debt$242.5M+12,119%

Total equity-$51.9M-2,905%

Total assets$200.4M+1,230%

Cash flow

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Operating cash flow-$4.8M-513%

CapEx$11.7K-61.7%

Free cash flow-$4.8M-492%

Valuation

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Market cap$59.22M-50.6%

Enterprise value$298.19M+116%

P/S2.3×-5.3×

Profitability

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Gross margin87%+32.6pp

Operating margin-839.8%-1,002pp

Net margin-874%-1,071pp

FCF margin-83.2%—

Returns & leverage

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Return on equity-468.5%-935pp

Current ratio1.7×+1.4×

Where this comes from

Calculated from Upexi’s reported figures.

total debt/total stockholders equity=4.4×

Based on the most recent quarter.

The official record: Upexi’s 10-Q, filed February 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upexi's debt-to-equity?: Upexi (UPXI) reported debt-to-equity of 4.4× in Q4 2025.
How has Upexi's debt-to-equity changed year-over-year?: Upexi's debt-to-equity increased by 674.5% year-over-year, from 0.6× to 4.4×.
What is the long-term trend for Upexi's debt-to-equity?: Over 4 years (2021 to 2025), Upexi's debt-to-equity has grown at a 85.8% compound annual growth rate (CAGR), from 0× to 0.2×.
What does debt-to-equity mean?: Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.