FBTC Financials Fidelity Wise Origin Bitcoin Fund
3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | — | -$1.6B | — | — | — | — | $0 |
| 2024 | — | $6.9B | — | — | — | — | $0 |
| 2023 | — | $0 | — | — | — | — | $0 |
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | — | -$3.7B | — | — | — | — | $0 |
| Dec '25 | — | -$5.5B | — | — | — | — | $0 |
| Sep '25 | — | $1.4B | — | — | — | — | $0 |
| Jun '25 | — | $4.8B | — | — | — | — | $0 |
| Mar '25 | — | -$2.2B | — | — | — | — | $0 |
| Dec '24 | — | $5.5B | — | — | — | — | $0 |
| Sep '24 | — | $41M | — | — | — | — | $0 |
| Jun '24 | — | -$1.2B | — | — | — | — | $0 |
| Mar '24 | — | $2.6B | — | — | — | — | $0 |
Valuation over time
How the market has priced FBTC against its own fundamentals since 2024-01 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 2.5× (Dec '24) to 2.4× (Nov '25).
Frequently asked questions
Is FBTC growing its revenue and profit?
See the revenue and net-income charts above for Fidelity Wise Origin Bitcoin Fund's multi-year trend.
How much debt does FBTC have?
As of FY2025, Fidelity Wise Origin Bitcoin Fund reported — of total debt against $0 of cash.
What is FBTC's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is FBTC's P/E ratio?
As of Jun '26, Fidelity Wise Origin Bitcoin Fund traded at a price-to-earnings ratio of about 2.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.