Baird Medical Investment Holdings Ltd BDMD
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.98
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $22.5M | $37.0M | $31.5M | $35.1M | — |
| Cost of revenue | $3.7M | $4.4M | $4.2M | $7.1M | — |
| Gross profit | $18.9M | $32.7M | $27.2M | $28.0M | — |
| R&D | $20.1M | $6.2M | $4.3M | $3.9M | — |
| SG&A | $14.1M | $7.1M | $8.5M | $7.0M | — |
| Total operating expenses | $44.5M | $17.3M | $15.4M | $14.4M | — |
| Operating income | -$25.6M | $15.3M | $11.9M | $13.6M | — |
| Interest expense | $737.4K | $576.4K | $284.3K | $299.3K | — |
| Pre-tax income | -$26.4M | $14.1M | $12.4M | $14.5M | — |
| Income tax | $1.2M | $1.5M | $1.7M | $1.7M | — |
| Net income | -$27.3M | $12.5M | $10.5M | $12.8M | — |
| EPS, basic | -0.98 | 0.57 | 0.51 | 0.49 | — |
| EPS, diluted | -0.98 | 0.57 | 0.51 | 0.49 | — |
| Shares, diluted (wtd. avg.) | 27.8M | 21.8M | 20.6M | 25.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $178.3K | $3.0M | $1.5M | $1.7M | $3.0M |
| Receivables | $42.5M | $46.6M | $31.1M | — | — |
| Inventory | $1.1M | $1.3M | $1.1M | — | — |
| Total current assets | $55.0M | $61.4M | $40.1M | — | — |
| Property, plant and equipment | $6.4M | $7.1M | $6.1M | — | — |
| Goodwill | $60.3K | $57.8K | $59.4K | — | — |
| Other intangibles | $8.6K | $16.5K | $25.5K | — | — |
| Total assets | $69.7M | $78.0M | $56.7M | — | — |
| Accounts payable | $1.8M | $1.3M | $550.2K | — | — |
| Short-term debt | $2.6M | $867.8K | $817.5K | — | — |
| Total current liabilities | $32.4M | $34.6M | $19.0M | — | — |
| Long-term debt | $6.1M | $3.4M | $1.6M | — | — |
| Total liabilities | $38.5M | $38.2M | $21.0M | — | — |
| Retained earnings | -$515.4K | $26.8M | $14.4M | — | — |
| Total equity | $31.4M | $39.7M | $35.7M | $25.8M | $14.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$1.3M | -$6.3M | -$1.0M | $486.0K | — |
| Depreciation and amortisation | $1.1M | $1.1M | $991.8K | $862.6K | — |
| Stock-based compensation | $17.5M | — | — | — | — |
| Capital expenditure | $42.3K | $2.9M | $2.6M | $5.9M | — |
| Investing cash flow | -$42.3K | -$2.5M | -$2.7M | -$5.9M | — |
| Financing cash flow | -$1.4M | $10.3M | $3.5M | $4.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-087081.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $35.1M | $31.5M | $37.0M | $22.5M |
| Gross profit | — | $28.0M | $27.2M | $32.7M | $18.9M |
| Net income | — | $12.8M | $10.5M | $12.5M | -$27.3M |
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