Rafael Holdings, Inc.

Rafael Holdings exhibits a capital structure with a current ratio of 3.44, indicating strong liquidity, supported by $37.78 million in cash and equivalents as of January 31, 2026. The company's price-to-book ratio of 1.04 and price-to-tangible-book ratio of 1.04 suggest that the market values the company close to its book value, with no debt-to-equity leverage. Profitability metrics are negative, with a return on equity of -20.5% and return on assets of -16.34%, reflecting significant operational losses. The company reported a net loss of $16.23 million for the six months ended January 31, 2026, with operating income of -$16.80 million. These figures fall below the industry median for profitability, indicating underperformance relative to peers. The company's revenue is concentrated in a few segments, with the majority derived from product revenue and rental services. The six months ended January 31, 2026, saw total revenue of $451,000, with no significant geographic diversification disclosed in the financial statements. Growth trajectory is negative, with a year-over-year revenue decline. The six months ended January 31, 2026, reported $451,000 in revenue, compared to $205,000 in the same period in 2025. The outlook for the current fiscal year indicates continued challenges, with no significant revenue growth expected. Risk factors include medium dilution potential, with source documents mentioning dilution or offering risk. The company's liquidity risk is low, but the negative operating cash flow of -$14.33 million and free cash flow of -$14.33 million for the six months ended January 31, 2026, suggest ongoing cash flow challenges. Recent events include the filing of unaudited consolidated financial statements for Q2 2026, which show continued operational losses and cash flow outflows. The company also reported cash and equivalents of $37.78 million as of January 31, 2026, down from $45.54 million as of October 31, 2025.