Greenland Technologies Holding Corp. GTEC
Holding Corporation (the "Company" or "Greenland") designs, develops, manufactures and sells components and products
for the global material handling industries.
in the PRC, Greenland offers transmission products, which are key components for forklift trucks used in manufacturing and logistic applications,
such as factories, workshops, warehouses, fulfilment centers, shipyards, and seaports. Forklifts play an important role in the logistic
Last close
0.95
2026-09-04
Market cap
$19.6M
2026-03-31 share count
52-week range
0.47 - 1.61
Valuation FY2025 figures against the last close
P/S0.2x
P/E3.1x
P/FCF1.3x
EV/EBITDA2.0x
Dividend yield11.3%
Diluted EPS0.31
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $90.7M | $83.9M | $90.3M | $90.8M | $98.8M | $66.9M | $52.4M | $60.2M | — |
| Cost of revenue | $1.1M | $1.3M | $1.2M | $71.0M | $79.2M | $54.1M | $40.0M | $46.1M | — |
| Gross profit | $28.4M | $22.5M | $24.6M | $19.8M | $19.6M | $12.8M | $12.4M | $14.1M | — |
| R&D | $3.9M | $2.9M | $5.4M | $5.8M | $5.5M | $2.4M | $2.4M | $2.5M | — |
| SG&A | $15.3M | $4.9M | $6.1M | $5.5M | $3.9M | $2.1M | $2.2M | $1.6M | — |
| Total operating expenses | $20.9M | $9.9M | $13.8M | $13.9M | $11.3M | $6.1M | $5.8M | $5.4M | — |
| Operating income | $7.5M | $12.6M | $10.8M | $6.0M | $8.3M | $6.7M | $6.6M | $8.7M | — |
| Interest expense | $111.7K | $84.2K | $250.4K | $403.0K | $587.3K | $930.6K | $1.3M | $1.6M | — |
| Pre-tax income | $12.1M | $16.7M | -$23.3M | $4.5M | $9.1M | $8.6M | $5.9M | $8.0M | — |
| Income tax | $3.5M | $1.5M | $1.7M | $699.7K | $1.8M | $2.3M | $847.4K | $1.4M | — |
| Net income | $4.9M | $14.1M | -$15.9M | $745.6K | $6.3M | $6.8M | $4.5M | $6.6M | — |
| EPS, basic | 0.31 | 1.03 | -1.20 | 0.06 | 0.58 | 0.67 | — | — | — |
| EPS, diluted | 0.31 | 1.03 | -1.20 | 0.06 | 0.58 | 0.67 | 0.56 | 0.79 | — |
| Shares, diluted (wtd. avg.) | $16.1M | $13.6M | $13.2M | $11.9M | $10.8M | $10.0M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.8M | $6.7M | $28.2M | $19.7M | $11.1M | $9.4M | $5.7M | $9.0M | $11.9M |
| Short-term investments | $24.5M | $18.5M | $2.8M | $7.8M | $2.1M | — | — | — | — |
| Receivables | $17.3M | $15.8M | $16.5M | $14.3M | $15.9M | $12.4M | $12.0M | $10.2M | — |
| Inventory | $24.4M | $23.4M | $24.6M | $23.1M | $25.8M | $15.4M | $10.0M | $12.4M | — |
| Total current assets | $95.3M | $92.6M | $99.8M | $125.9M | $139.3M | $107.6M | $80.2M | $48.2M | — |
| Property, plant and equipment | $11.9M | $13.1M | $13.7M | $15.6M | $19.0M | $20.1M | $20.6M | $22.1M | — |
| Goodwill | — | — | — | — | $3.9K | $3.9K | $3.9K | $4.0K | — |
| Other intangibles | $68.7K | $90.0K | $189.6K | — | — | — | — | — | — |
| Total assets | $115.8M | $115.6M | $130.5M | $155.1M | $162.6M | $132.0M | $106.5M | $111.4M | — |
| Accounts payable | $25.6M | $23.1M | $25.3M | $24.8M | $29.1M | $22.0M | $14.7M | $15.0M | — |
| Short-term debt | — | — | $3.0M | $9.0M | $197.9K | $797.2K | $2.7M | $19.6M | — |
| Total current liabilities | $48.3M | $57.5M | $72.5M | $66.2M | $85.5M | $78.8M | $56.0M | $63.2M | — |
| Long-term debt | — | — | — | — | $197.9K | $166.3K | $1.3M | — | — |
| Total liabilities | $49.5M | $62.3M | $79.8M | $75.7M | $87.7M | $81.3M | $59.5M | $1.0M | — |
| Retained earnings | $37.5M | $32.6M | $18.5M | $34.4M | $33.7M | $26.7M | $19.9M | $15.9M | — |
| Total equity | $72.9M | $60.2M | $50.7M | $79.4M | $62.3M | $50.7M | $39.6M | $39.6M | $35.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $15.6M | $13.3M | $2.4M | $7.3M | -$5.8M | $2.7M | $8.0M | $3.1M | — |
| Depreciation and amortisation | $2.2M | $2.1M | $2.0M | $2.4M | $2.5M | $2.4M | $2.3M | $1.6M | — |
| Stock-based compensation | $5.5M | — | — | — | — | — | — | — | — |
| Capital expenditure | $525.7K | $2.0M | $735.5K | — | — | — | $1.3M | $6.7M | — |
| Investing cash flow | -$919.6K | -$1.9M | $1.1M | $33.7K | -$639.0K | -$822.8K | -$1.6M | -$6.0M | — |
| Financing cash flow | -$15.6M | -$30.9M | $2.9M | -$4.3M | $14.5M | $2.3M | -$9.6M | -$157.9K | — |
| Dividends paid | $2.2M | $5.9M | $703.6K | — | — | — | $159.6K | — | — |
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 0001213900-26-032928.
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