Stablecoin Development (SDEV) Operating Leases (2019 - 2026)
Stablecoin Development (SDEV) reported Operating Leases of $166,000 for Q1 2026, down 74.0% from $638,000 a year earlier and down 42.2% from the prior quarter.
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Analysis
Stablecoin Development (SDEV) Operating Leases (2019 - 2026) Analysis & Trends
At the end of FY2025, Stablecoin Development posted Operating Leases of $287,000, down 59.5% from FY2024.
- Operating Leases has declined for three consecutive years, though with a five-year compound annual growth rate of 27.0% (FY2020 to FY2025).
- By year, Operating Leases came in at $709,000 in FY2024 (-36.0%), $1.11 million in FY2023 (-30.2%), $1.59 million in FY2022 (+545.5%) and $246,000 in FY2021 (+182.8%).
- The Q1 2026 figure ranks as the lowest quarterly Operating Leases since Q3 2021.
- Year over year, Operating Leases has now declined in each of the last 13 quarters, with an average decline of 46.2% over the last eight quarters.
- The high point for year-over-year Operating Leases in five years was Q4 2022 (growth of 545.5%); the low point was Q3 2021 (a decline of 99.5%).
- Per Business Quant data, the three quarters before Q1 2026 came in at $287,000 (Q4 2025), $405,000 (Q3 2025) and $522,000 (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | BlackRock | 176.11 Bn | 122.24 Bn | - |
| 2 | Spdr Gold Trust | 136.78 Bn | -421.23 Bn | - |
| 3 | Blackstone | 88.59 Bn | 78.57 Bn | - |
| 4 | Brookfield | 83.82 Bn | -99.50 Bn | - |
| 5 | Kkr | 79.95 Bn | 99.27 Mn | - |
| 6 | Brookfield Asset Management | 73.57 Bn | 68.38 Bn | - |
| 7 | Apollo Global Management | 66.33 Bn | -16.46 Bn | 10.56 Bn |
| 8 | Wheaton Precious Metals | 59.86 Bn | 55.29 Bn | 687.86 Mn |
| 9 | Franco Nevada | 46.63 Bn | 43.99 Bn | 451.00 Mn |
| 10 | Stablecoin Development | 27.90 Mn | -7.74 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 166,000.00 |
| Dec 31, 2025 | 287,000.00 |
| Sep 30, 2025 | 405,000.00 |
| Jun 30, 2025 | 522,000.00 |
| Mar 31, 2025 | 638,000.00 |
| Dec 31, 2024 | 709,000.00 |
| Sep 30, 2024 | 821,000.00 |
| Jun 30, 2024 | 932,000.00 |
| Mar 31, 2024 | 1.04 Mn |
| Dec 31, 2023 | 1.11 Mn |
| Sep 30, 2023 | 1.24 Mn |
| Jun 30, 2023 | 1.38 Mn |
| Mar 31, 2023 | 1.51 Mn |
| Dec 31, 2022 | 1.59 Mn |
| Sep 30, 2022 | 1.71 Mn |
| Jun 30, 2022 | 1.80 Mn |
| Mar 31, 2022 | 1.92 Mn |
| Dec 31, 2021 | 246,000.00 |
| Sep 30, 2021 | 1,000.00 |
| Jun 30, 2021 | 5,000.00 |
API Access
Stablecoin Development Operating Leases API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-leases&ticker=SDEV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "ticker": "SDEV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-leases&ticker=SDEV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();