XXI

Twenty One Capital

Fundamental data last updated:April 13, 2026

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company profile

SECTOR

Financial Services

industry

Shell Companies

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/21/26

Business Summary

As a shell company, XXI Twenty One Capital’s model is centered on capital structure positioning rather than operating cash flow generation. It typically raises capital, maintains a clean listing, and seeks mergers, acquisitions, or reverse takeovers to create value. The moat, such as it is, lies in access to public markets, liquidity, and deal-making flexibility rather than proprietary products or recurring revenue streams. Cash generation ultimately depends on successfully identifying and executing a transaction that injects profitable operations into the corporate structure.

 


Analyze XXI on TradingView

VALUATION

P/E

-

Market Cap ($M USD)

$2,311

Forward P/E

-

PEG

-

PRICE TO SALES

-

PRICE TO BOOK

0.7

EV / EBITDA

-12.3

5-Year Average P/E

Free Cash Flow Yield

DCF Value

Graham Number

Price to FCF

EV to FCF

Earnings Yield

FCF Yield

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

-$3.68

Next Year EPS Growth Estimate

-

Next Year Revenue Growth Estimate

-

Return on Equity (ROE)

-6.30%

FREE CASH FLOW

Operating Margin

-

Debt-to-Equity

0.1

Piotroski F-Score

-

Altman Z-Score

2.8

Return on Invested Capital (ROIC)

-5.50%

Current Ratio

47.6

Quick Ratio

Net Debt to EBITDA

Interest Coverage

Gross Profit margin

FCF PER SHARE

REVENUE PER SHARE

Analyze XXI on TradingView

Gainseekers Quantitative Analysis

Summary

This is a balance sheet-driven stub trading at 0.7x book with deeply negative earnings and no visible growth metrics, which immediately frames it as a liquidation or optionality play rather than an operating business. EPS of -12.3 and expected EPS of -3.68 next year confirm continued losses, while a -6.30% operating margin and -5.50% ROIC show capital destruction, not value creation. The Altman Z-Score of 2.8 suggests it is not in immediate distress but also not comfortably safe, sitting in the gray zone. With no Forward P/E and no growth metrics, the market is not pricing growth at all—this is a discounted asset shell, and any upside depends on balance sheet value realization rather than operating performance.

AI Exposure / Tech Reliance

As a shell company in Financial Services, its adaptability to AI depends entirely on whatever operating asset or acquisition it ultimately controls. The current structure offers flexibility but no embedded technological edge. In its present form, it has no demonstrated AI leverage—only optionality.

The Bull Case

A deep value investor could argue that 0.7x price-to-book combined with a massive 47.6 current ratio creates a strong asset cushion and significant liquidity buffer. The balance sheet appears heavily liquid, which reduces near-term solvency risk despite ongoing losses. The Altman Z-Score of 2.8 reinforces that bankruptcy risk is not acute, and the negligible 0.1 yield with a 0% five-year average dividend suggests capital is not being drained by shareholder payouts. While ROIC is -5.50% and operating margin is -6.30%, a restructuring, asset sale, or reverse merger could dramatically alter returns, making this a classic asymmetric optionality setup for investors willing to underwrite management execution risk.

The Bear Case

The company is currently destroying capital, with -12.3 EPS and negative forward earnings expectations, meaning there is no earnings floor supporting valuation. Operating margin of -6.30% and ROIC of -5.50% confirm the absence of an economic engine, and without a listed PEG ratio, Forward P/E, Debt/Equity, Short % of Float, or institutional ownership data, visibility into growth expectations and capital structure risk is limited. The Altman Z-Score of 2.8 is mediocre, not fortress-level, and losses are expected to continue next year. This is not a GARP story—it is a speculative asset stub dependent on a future transaction rather than current fundamentals.

Market Sentiment & Smart Money

Short Interest %

2.20%

Analyst Consensus

-

Average Analyst Price Target

-

Institutional Ownership %

32.60%

1-Year Beta

2.73

Insider Buying % (6 Mo)

62.30%%

Distance to 52-Week High

53.30%

Distance to 52-Week Low

118.90%

EARNINGS SURPRISE %

50-DAY SMA

200-DAY SMA

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.