QRHC Quest Resource Holding Corp

Overview and Growth

Quest Resource Holding Corp generated $250.22M of revenue in fiscal 2025, with net loss of $15.38M and an operating cash inflow of $9.56M. At $250.22M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 13.3% below fiscal 2024 revenue of $288.53M, marking a top-line contraction. The company reported diluted EPS of -$0.73, adding a shareholder-level measure to the absolute income figures considered below. The company employed $145.55M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 1.72x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $42.54M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 17.0%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced a $6.16M operating loss before non-operating and tax effects. Relative to revenue, the operating deficit measured 2.5%, showing the shortfall after operating costs. The company ended the period with a net loss of $15.38M, extending the operating result through all remaining items. The net loss equaled 6.1% of revenue, showing the bottom-line deficit relative to the company’s sales base. The pretax result was a loss of $15.37M, establishing the deficit before tax effects. The pretax loss equaled 6.1% of revenue, measuring the pre-tax deficit against sales. Income tax expense totaled $16.00K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 38.0%, placing the bottom-line deficit against shareholder capital. The loss-to-assets relationship was 10.6%, placing the bottom-line deficit against the company’s resource base.

Liquidity and Capital Structure

Total assets were $145.55M, supported by $105.04M of liabilities and $40.51M of shareholder equity. The near-term balance sheet paired $51.20M of current assets with $39.53M of current liabilities at the reporting date. Current assets covered current liabilities by 1.3x, leaving a positive buffer for near-term obligations. The company held $1.01M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 2.6% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $65.01M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 1.6x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 44.7%, comparing borrowing with the total asset balance. Liabilities represented 72.2% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 0.7%, comparing reported cash and equivalents with the full positive asset balance. Compared with $175.65M in fiscal 2024, the current asset base moved 17.1% and finished lower. Against $54.16M of equity in fiscal 2024, the current book-equity balance moved 25.2% and ended lower. The reported cash balance changed 156.1% from $396.00K in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported $9.56M of operating cash flow, a cash inflow that shows the cash generated by operations. The cash-flow statement records $251.00K of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 2.6% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $9.31M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 3.7%, showing how much sales converted into cash after investment. Free cash flow equaled 6.4% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.