Detailed financial statements for Roman DBDR Acquisition Corp. II (DRDB): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Roman DBDR Acquisition Corp. II (DRDB) functions as a special purpose acquisition company (SPAC), formed with the explicit goal of identifying and executing a business combination with another entity. This could involve various forms of strategic integration, such as a merger, an acquisition of assets or shares, or a corporate reorganization. The firm was established on July 25, 2024, and its principal headquarters are situated in Boca Raton, Florida.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $10.67, DRDB trades at a P/E of 60.72 and an ROE of 2.27%. Market capitalisation stands at $245M.
Balance sheet quality for DRDB: current ratio of 0.4, net debt of $16978. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of -$1.3M represents -17% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Revenue | 0 | 0 |
| Cost of Revenue | 0 | 0 |
| Gross Profit | 0 | 0 |
| Research & Development | 0 | 0 |
| Selling, General & Admin | $206935 | $2.3M |
| Operating Expenses | $206935 | $2.3M |
| Operating Income | -$207000 | -$2.3M |
| EBITDA | $223461 | -$2.3M |
| Interest Expense | 0 | 0 |
| Pre-tax Income | $223461 | $7.7M |
| Income Tax | 0 | 0 |
| Net Income | $223461 | $7.7M |
| EPS | $0.01 | $0.34 |
| EPS (Diluted) | $0.01 | $0.34 |
| Shares Outstanding (Diluted) | $27.7M | $22.8M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 |
| Operating Income | -$513304 | -$1.0M | -$1.9M | -$437531 |
| EBITDA | -$513304 | -$3.4M | -$1.9M | -$437531 |
| Net Income | $2.1M | $1.4M | -$235067 | $2.2M |
| EPS | $0.07 | $0.04 | $-0.01 | $0.07 |
| EPS (Diluted) | $0.07 | $0.04 | $-0.01 | $0.07 |
Balance Sheet (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Cash & Equivalents | $1.3M | $183022 |
| Short-term Investments | 0 | 0 |
| Receivables | 0 | $9270 |
| Inventory | 0 | 0 |
| Total Current Assets | $1.4M | $317712 |
| Property, Plant & Equipment | 0 | 0 |
| Goodwill | 0 | 0 |
| Intangible Assets | 0 | 0 |
| Total Assets | $202.8M | $241.5M |
| Accounts Payable | 0 | 0 |
| Short-term Debt | 0 | 0 |
| Total Current Liabilities | $301815 | $895805 |
| Long-term Debt | 0 | $200000 |
| Total Liabilities | $301815 | $1.1M |
| Retained Earnings | $223461 | -$778860 |
| Total Equity | $202.5M | $240.4M |
| Total Debt | 0 | $200000 |
| Net Debt | -$1.3M | $16978 |
| Working Capital | $1.1M | -$578093 |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $323684 | $183022 | $53490 | $66238 |
| Total Assets | $239.3M | $241.5M | $243.1M | $245.6M |
| Total Liabilities | $275574 | $1.1M | $2.9M | $3.3M |
| Total Equity | $239.1M | $240.4M | $240.2M | $242.4M |
| Total Debt | 0 | $200000 | $480000 | $580000 |
Cash Flow (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Net Income | $536 | $7.7M |
| Depreciation & Amortization | 0 | 0 |
| Stock-based Compensation | 0 | 0 |
| Change in Working Capital | -$540 | $963730 |
| Operating Cash Flow | -$411797 | -$1.3M |
| Capital Expenditure | -$3 | 0 |
| Acquisitions | 0 | 0 |
| Stock Repurchased | 0 | 0 |
| Dividends Paid | 0 | 0 |
| Free Cash Flow | -$411800 | -$1.3M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | -$295138 | -$340662 | -$409532 | -$87252 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$295138 | -$340660 | -$409530 | -$87250 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | 0 | 0 | 0 |
Growth & Margins (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Net Income Growth (YoY) | +3362.5% | |
| EPS Growth (YoY) | +4097.5% | |
| Shares Change (YoY) | -17.7% | |
| FCF Growth (YoY) | -213.0% | |
| Effective Tax Rate | 0.0% | 0.0% |
Per-Share Data (10y)
| Year | 2024 | 2025 |
|---|---|---|
| FCF Per Share | $-0.01 | $-0.06 |
| Dividends Per Share | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $27.7M | $22.8M |
What to look at in Financial Services
Asset managers, brokers, fintech, exchanges. They are not banks — look at AUM, fees and FCF quality.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — Good asset managers have >30% margins thanks to scalability
- ROE — Quality financial services have a consistent ROE >15%
- FCF / Net Income — Earnings quality — >90% expected in capital-light businesses
- Debt / Equity — Fintech and brokers with high D/E are time bombs in crises
- P/E vs own 5y — Asset managers have stable multiples in well-known ranges
- Dividend yield + buybacks — These businesses return a lot of capital — look at total yield (div + buybacks)
Profitability
| Return on Equity | 2.27% |
| Return on Invested Capital | -1.58% |
| Return on Assets | 2.22% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 0.06 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 130.04 |
Key Ratios (10y)
| Year | 2024 | 2025 |
|---|---|---|
| P/E | 1223.46 | 30.68 |
| P/B | 1.35 | 0.99 |
| P/S | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% |
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Explore sector: Financial Services · Financial - Conglomerates
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