Grayscale Ethereum Mini Trust ETF (ETH) Earnings History
Elite Compounder23 years of earnings data (2003–2025) · 5-year EPS CAGR exceeds 18% — top-tier earnings quality
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Grayscale Ethereum Mini Trust ETF (ETH) Earnings Overview
As of July 7, 2026, Grayscale Ethereum Mini Trust ETF (ETH) reported trailing twelve-month net income of $40M, reflecting -19.3% year-over-year growth. The company earned $1.58 per diluted share over the past four quarters, with a net profit margin of 8.4%.
Looking at the long-term picture, ETH's 5-year EPS compound annual growth rate (CAGR) stands at +42.7%, indicating exceptional earnings growth. The company achieved its highest annual net income of $106M in fiscal 2023.
Grayscale Ethereum Mini Trust ETF maintains positive profitability with a gross margin of 60.5%, operating margin of 10.1%, and net margin of 8.4%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including COIN ($801M net income, 17.6% margin), MSTR (-$12.36B net income, -844.8% margin), MARA (-$2.04B net income, -144.6% margin), ETH has room to improve margins relative to the peer group. Compare ETH vs COIN →
ETH Earnings vs Peers
Earnings metrics vs comparable public companies
ETH Historical Earnings Data (2003–2025)
23 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $52M | -19.1% | $62M | $2.01 | 8.4% | 10.1% |
| 2024 | $64M | -39.7% | $78M | $2.49 | 9.9% | 12.1% |
| 2023 | $106M | +2.4% | $133M | $4.13 | 13.4% | 16.9% |
| 2022 | $103M | +72.1% | $134M | $4.05 | 12.6% | 16.4% |
| 2021 | $60M | +574.2% | $80M | $2.37 | 8.8% | 11.6% |
| 2020 | $9M | -65.4% | $12M | $0.34 | 1.5% | 2.0% |
| 2019 | $26M | -29.3% | $53M | $0.96 | 3.4% | 7.0% |
| 2018 | $36M | +0.5% | $49M | $1.32 | 4.7% | 6.4% |
| 2017 | $36M | -36.1% | $58M | $1.29 | 4.7% | 7.6% |
| 2016 | $57M | +52.5% | $89M | $2.00 | 7.1% | 11.2% |
| 2015 | $37M | -13.5% | $66M | $1.27 | 4.9% | 8.7% |
| 2014 | $43M | +32.2% | $70M | $1.47 | 5.7% | 9.3% |
| 2013 | $32M | -34.6% | $60M | $1.11 | 4.5% | 8.3% |
| 2012 | $50M | +69.9% | $50M | $1.71 | 6.8% | 6.8% |
| 2011 | $29M | +166.0% | $33M | $1.01 | 4.3% | 4.9% |
| 2010 | -$44M | +15.9% | -$9M | $-1.53 | -7.5% | -1.6% |
| 2009 | -$53M | -190.7% | -$6M | $-1.83 | -7.8% | -0.9% |
| 2008 | $58M | -16.1% | $103M | $1.97 | 5.9% | 10.5% |
| 2007 | $69M | -19.2% | $125M | $2.15 | 6.9% | 12.4% |
| 2006 | $86M | +8.0% | $147M | $2.51 | 8.0% | 13.8% |
| 2005 | $79M | -1.2% | $129M | $2.19 | 8.4% | 13.6% |
| 2004 | $80M | +6.6% | $140M | $2.10 | 8.4% | 14.7% |
| 2003 | $75M | - | $134M | $1.95 | 8.3% | 14.7% |
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ETH — Frequently Asked Questions
Quick answers to the most common questions about buying ETH stock.
What is ETH earnings per share (EPS)?
ETH trailing twelve-month (TTM) diluted EPS is $1.58, reflecting -19.3% year-over-year growth. The 5-year EPS CAGR is +42.7%. Complete EPS history from 2003 to 2025 is available in the table on this page.
What is Grayscale Ethereum Mini Trust ETF's net income?
Grayscale Ethereum Mini Trust ETF (ETH) trailing twelve-month net income is $40M as of 2025. Earnings declined -19.3% year-over-year. Grayscale Ethereum Mini Trust ETF has been profitable for 15 consecutive years.
Is ETH profitable?
Yes, ETH is profitable with a TTM net income of $40M and a net profit margin of +8.4%. Grayscale Ethereum Mini Trust ETF has generated profits for 15 consecutive years.
What is ETH's earnings growth rate?
ETH compound annual EPS growth rates (CAGR): 1-Year: -19.3%, 3-Year: -20.8%, 5-Year: +42.7%, 10-Year: +4.7%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2003 to 2025.
What are ETH's profit margins?
Grayscale Ethereum Mini Trust ETF net profit margin is +8.4%, operating margin is +10.1%, and gross margin is +60.5%. Margins are within a typical range for the sector. Return on Equity is +10.7%.
Is ETH growing earnings?
ETH earnings are declining — EPS fell -19.3% year-over-year. TTM net income dropped to $40M. This contrasts with the 5-year CAGR of +42.7%.
What was ETH's best earnings year?
Grayscale Ethereum Mini Trust ETF's highest annual net income on record is $106M, achieved in fiscal year 2023. Earnings history on this page spans 2003 to 2025 and includes all annual and quarterly figures.
What were ETH's earnings last quarter?
ETH's most recent reported quarter was Q3 2026. Net income was $6M with diluted EPS of $0.23. For a full breakdown of all quarters, see the quarterly earnings table on this page.