System1 (SST) Invested Capital (2020 - 2026)
System1's Invested Capital came in at $238.79 million for Q2 2026, down 24.6% from $316.78 million a year earlier and down 8.0% from the prior quarter.
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Analysis
System1 (SST) Invested Capital (2020 - 2026) Analysis & Trends
For FY2025, System1's Invested Capital was $335.58 million, down 5.9% from FY2024.
- Invested Capital has declined in each of the last three years.
- Going back by year, Invested Capital was $356.52 million in FY2024 (-31.3%), $518.82 million in FY2023 (-41.4%), $885.2 million in FY2022 (+183.3%) and $312.51 million in FY2021.
- The Q2 2026 figure represents the lowest quarterly Invested Capital since Q3 2021.
- Year-over-year, Invested Capital has declined for 14 consecutive quarters, with an average decline of 24.1% over the last eight quarters.
- The fastest year-over-year change in Invested Capital over five years came in Q4 2022 (growth of 183.3%), and the weakest in Q2 2024 (a decline of 49.1%).
- Business Quant data shows SST's Invested Capital at $259.44 million (Q1 2026), $335.58 million (Q4 2025) and $301.92 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,180.92 Bn | 3,938.44 Bn | 73.85 Bn | 738.65 Bn |
| 2 | Meta Platforms | 1,847.76 Bn | 1,550.28 Bn | 49.47 Bn | 344.89 Bn |
| 3 | Netflix | 289.73 Bn | 249.92 Bn | 6.52 Bn | 44.46 Bn |
| 4 | Alibaba Group Holding | 249.81 Bn | 67.68 Bn | 15.11 Bn | 187.69 Bn |
| 5 | Shopify | 192.08 Bn | 169.26 Bn | 1.71 Bn | - |
| 6 | Uber Technologies | 139.76 Bn | 111.74 Bn | 6.38 Bn | 40.94 Bn |
| 7 | Booking Holdings | 122.41 Bn | 55.46 Bn | - | 9.40 Bn |
| 8 | PDD Holdings | 110.94 Bn | -140.99 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 100.32 Bn | 57.56 Bn | 1.86 Bn | - |
| 10 | System1 | 26.68 Mn | -233.14 Mn | 24.27 Mn | 238.79 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 238.79 Mn |
| Mar 31, 2026 | 259.44 Mn |
| Dec 31, 2025 | 335.58 Mn |
| Sep 30, 2025 | 301.92 Mn |
| Jun 30, 2025 | 316.78 Mn |
| Mar 31, 2025 | 335.09 Mn |
| Dec 31, 2024 | 356.52 Mn |
| Sep 30, 2024 | 378.42 Mn |
| Jun 30, 2024 | 408.89 Mn |
| Mar 31, 2024 | 445.19 Mn |
| Dec 31, 2023 | 518.82 Mn |
| Sep 30, 2023 | 643.41 Mn |
| Jun 30, 2023 | 803.44 Mn |
| Mar 31, 2023 | 844.74 Mn |
| Dec 31, 2022 | 885.20 Mn |
| Sep 30, 2022 | 934.68 Mn |
| Jun 30, 2022 | 1.24 Bn |
| Mar 31, 2022 | 1.25 Bn |
| Dec 31, 2021 | 312.51 Mn |
| Sep 30, 2021 | -56.92 Mn |
API Access
System1 Invested Capital 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=invested-capital&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "SST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();