21Shares Dogecoin ETF Common Shares of Beneficial Interest (TDOG)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-and-Buffett style investor, I look for productive assets with durable cash flows and a margin of safety. TDOG is not an operating business; the Trust simply holds Dogecoin. That changes the analysis. In fiscal Q3 2026, the quarter ended 2026-06-30, the filed figures show net income of -$848,081. In fiscal Q2 2026, the quarter ended 2026-03-31, net income was -$636,693. No revenue is reported. I cannot compute meaningful P/E, P/B, ROE, ROCE, or dividend yield from these filings, and FairStock's score is N/A. At the $16.12 close on 2026-10-16, market cap is only $15.8M, with a 52-week range of $13.82-$25.59. The Lynch category is none because there are only zero years of filed results and the rule needs three. The trust's clear mandate is to hold Dogecoin, sponsored by 21Shares U.S. LLC, a subsidiary of 21co Holdings whose ultimate parent is FalconX. That gives a structure, but not an economic moat: Dogecoin is a commodity-like crypto asset, and the trust's results depend on its price and investor flows rather than pricing power or recurring earnings. Financial health and growth trajectory are therefore hard to judge from the provided data; recent filings show losses, and no revenue or return metrics are available. Without earnings or asset-value data, I cannot call the shares cheap, fair, or expensive versus fundamentals. This is a speculative claim on Dogecoin, not a compounding business, and it falls outside my usual circle of productive investments.

In plain English: This is an exchange-traded fund whose main job is to hold Dogecoin, a cryptocurrency. It has no normal business revenue, and recent filings show net losses of about $848,000 in fiscal Q3 2026 and $637,000 in fiscal Q2 2026. With no earnings or long track record to compare, the share price cannot be called cheap or expensive from the given numbers; it mainly follows the price of Dogecoin.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer