Usbc
USBC on NYSEAmerican. Usbc sells digital banking and blockchain financial services to businesses and people. Market value $210m.
Figures from the annual report for the year ended 30 September 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: -293 cents. Above 10 is good.
What you pay for each dollar of net assets: $4.60.
Profit per $100 you pay: $-10.36.
Quality score: 16 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$0.55 a share, 90% above its 1-year low
Over the past year the price has ranged from $0.29 to $1.29.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $0 | $4m | $0 | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.05bn | 0.10bn | 0.01bn | 0.39bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 785% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| June 2024 | -$4m |
| September 2024 | -$4m |
| December 2024 | -$5m |
| March 2025 | -$4m |
| June 2025 | -$2m |
| September 2025 | -$12m |
| March 2026 | -$26m |
| June 2026 | -$21m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 March 2026
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
None of the long-term investors we follow own it. 25 funds in all.
Largest holders overall
- Crcm LP$173,817
- Vanguard Capital Management$85,140Added
- Geode Capital Management$68,469Cut
- Vontobel Holding$59,674
- Vanguard Fiduciary Trust$45,485Added
- State Street$29,078New
- Jane Street Group$23,546Added
- Northern Trust$22,473New
- Virtu Financial$17,000New
- TWO Sigma Securities$11,651New
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- Robert Gregory KiddInsider or founderat least 92.1%−1.0 pts(filed with 1 related holder)Since 19 September 2025
What they said
Item 4 of the Schedule 13D is hereby supplemented as follows: On September 19, 2025, Goldeneye entered into a Registration Rights Agreement (the "Registration Rights Agreement") with the Issuer and certain other signatories thereto, pursuant to which, among other things, the…
Read the filing - Todd BaszuckiPassive investor14.0%Since 18 February 2025
- Clayton A StruvePassive investorSold down below 5%Since 6 August 2025
- Ronald P. EricksonPassive investorSold down below 5%Since 6 August 2025
| Holder | Stake | Since | |
|---|---|---|---|
Robert Gregory Kidd Insider or founder | at least 92.1%−1.0 pts (filed with 1 related holder) | 19 September 2025 | What they saidItem 4 of the Schedule 13D is hereby supplemented as follows: On September 19, 2025, Goldeneye entered into a Registration Rights Agreement (the "Registration Rights Agreement") with the Issuer and certain other signatories thereto, pursuant to which, among other things, the… Read the filing |
Todd Baszucki Passive investor | 14.0% | 18 February 2025 | |
Clayton A Struve Passive investor | Sold down below 5% | 6 August 2025 | |
Ronald P. Erickson Passive investor | Sold down below 5% | 6 August 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.