FULO FULLNET COMMUNICATIONS INC

Overview and Growth

Fiscal 2023 results for FULLNET COMMUNICATIONS INC combined $4.19M of revenue with net income of $532.14K and an operating cash inflow of $690.29K. Revenue of $4.19M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 1.8% below fiscal 2022 revenue of $4.27M, marking a top-line contraction. The diluted weighted-average share count was 19.65M, linking total earnings with the per-share result received by shareholders. Total assets stood at $3.40M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 1.23x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $3.14M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 74.9% of revenue, showing how much of the top line remained after direct costs. Operating income was $512.17K, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 12.2%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $532.14K, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 12.7% margin after operating costs and the remaining recognized items. Reported EBITDA totaled $528.77K, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. The reported income-tax provision was $127.69K, the amount recognized between pretax income and the final net-income result. Net income equaled 32.8% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 15.6% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Current net income of $532.14K was below fiscal 2022 net income of $672.24K, showing the direction of the bottom-line change.

Liquidity and Capital Structure

The company held $3.40M of assets against $1.78M of liabilities and $1.62M of equity, revealing how the asset base was financed. Current assets were $3.17M against $1.78M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 1.78x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $3.13M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 175.8%, excluding receivables and other current assets. The equity-to-assets relationship was 47.7%, placing book capital against the total resource base. Relative to total assets, liabilities measured 52.3%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 92.0%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 7.1% from $3.18M in fiscal 2022, leaving current total assets higher year over year. Against $1.40M of equity in fiscal 2022, the current book-equity balance moved 15.7% and ended higher. The reported cash balance changed 13.7% from $2.75M in fiscal 2022, ending higher year over year.

Cash Flow and Earnings Quality

The company reported $690.29K of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.3x of net income, showing how strongly accounting earnings converted into cash from operations. After capital spending, free cash flow was $690.29K, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 16.5%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 20.3%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2023. Analysis generated Oct 21, 2026.