HIGHWAY HOLDINGS LTD HIHO
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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-0.33
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $57.0K | $7.4M | $6.3M | $10.2M | $12.4M | $9.2M | $12.6M | $14.3M | $19.2M | $19.6M |
| Cost of revenue | $3.4M | $4.9M | $4.6M | $7.1M | $8.6M | $6.5M | $8.4M | $10.7M | $12.4M | $14.0M |
| Gross profit | $1.4M | $2.5M | $1.7M | $3.1M | $3.8M | $2.7M | $4.2M | $3.6M | $6.7M | $5.6M |
| SG&A | $3.5M | $3.0M | $2.5M | $3.6M | $3.2M | $3.3M | $3.4M | $4.3M | $4.8M | $4.8M |
| Operating income | -$2.3M | -$535.0K | -$1.6M | -$477.0K | $567.0K | -$616.0K | $747.0K | -$755.0K | $1.9M | $761.0K |
| Interest expense | $7.0K | $8.0K | $8.0K | — | — | — | — | — | — | — |
| Pre-tax income | -$2.0M | $147.0K | -$1.1M | -$313.0K | $568.0K | -$600.0K | $896.0K | -$694.0K | $2.1M | $761.0K |
| Income tax | $486.0K | $38.0K | $161.0K | $20.0K | $101.0K | $146.0K | $209.0K | $26.0K | $512.0K | $236.0K |
| Net income | -$1.5M | $106.0K | -$959.0K | -$294.0K | $443.0K | -$461.0K | $686.0K | -$630.0K | $1.6M | $527.0K |
| EPS, basic | -0.33 | 0.02 | -0.22 | -0.07 | 0.11 | -0.12 | 0.18 | -0.17 | 0.41 | 0.14 |
| EPS, diluted | -0.33 | 0.02 | -0.22 | -0.07 | 0.11 | -0.12 | 0.18 | -0.17 | 0.41 | 0.14 |
| Shares, diluted (wtd. avg.) | 4.6M | 4.4M | 4.4M | 4.1M | 4.2M | 4.0M | 3.9M | 3.8M | 3.8M | 3.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.4M | $6.0M | $6.6M | $7.0M | $6.0M | $7.8M | $8.8M | $8.8M | $11.3M | $10.0M |
| Short-term investments | — | — | — | — | — | — | $1.1M | $2.0M | $1.9M | $1.9M |
| Receivables | $1.0M | $1.0M | $1.3M | $1.9M | $2.3M | $973.0K | $2.0M | $2.3M | $2.2M | $3.4M |
| Inventory | $1.5M | $1.1M | $1.6M | $1.4M | $2.4M | $2.2M | $2.0M | $1.5M | $2.9M | $2.3M |
| Total current assets | $7.1M | $8.6M | $9.6M | $10.7M | $12.3M | $11.5M | $13.2M | $13.4M | $17.2M | $16.4M |
| Property, plant and equipment | $389.0K | $94.0K | — | $401.0K | $643.0K | $833.0K | $878.0K | $886.0K | $770.0K | $954.0K |
| Goodwill | $260.0K | — | — | — | — | — | — | — | $77.0K | $77.0K |
| Other intangibles | $532.0K | — | — | — | — | — | — | — | — | — |
| Total assets | $11.0M | $9.6M | $11.3M | $13.9M | $14.9M | $15.5M | $18.2M | $15.2M | $18.1M | $17.6M |
| Accounts payable | $437.0K | $613.0K | $935.0K | $928.0K | $828.0K | $653.0K | $997.0K | $1.2M | $900.0K | $2.4M |
| Short-term debt | $162.0K | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $3.2M | $3.1M | $3.8M | $4.1M | $5.2M | $4.0M | $5.0M | $5.1M | $6.3M | $6.2M |
| Long-term debt | $407.0K | — | — | — | — | — | — | — | — | — |
| Total liabilities | $5.6M | $3.3M | $4.7M | $5.7M | $5.6M | $5.7M | $7.3M | $5.1M | $6.3M | $6.2M |
| Retained earnings | -$7.0M | -$5.4M | -$5.0M | -$3.4M | -$2.3M | -$2.0M | -$865.0K | -$1.2M | $347.0K | $13.0K |
| Total equity | $4.9M | $6.3M | $6.6M | $8.2M | $9.3M | $9.8M | $10.9M | $10.1M | $11.8M | $11.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.4M | -$360.0K | $415.0K | $809.0K | -$164.0K | -$104.0K | $442.0K | -$437.0K | $2.4M | $2.2M |
| Depreciation and amortisation | $31.0K | $9.0K | $159.0K | $209.0K | $162.0K | $159.0K | $145.0K | $261.0K | $319.0K | $266.0K |
| Capital expenditure | $103.0K | $101.0K | $118.0K | $92.0K | $134.0K | $88.0K | $91.0K | $695.0K | $271.0K | $197.0K |
| Investing cash flow | -$109.0K | $232.0K | -$102.0K | $991.0K | -$1.2M | -$78.0K | -$64.0K | -$736.0K | -$142.0K | -$197.0K |
| Financing cash flow | -$25.0K | -$492.0K | -$557.0K | -$920.0K | -$549.0K | -$902.0K | -$297.0K | -$1.2M | -$1.0M | -$1.1M |
| Dividends paid | — | $492.0K | $616.0K | $1.0M | $569.0K | $981.0K | $297.0K | $1.2M | $1.0M | $1.1M |
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 0001213900-26-077959.
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 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.6M | $19.2M | $14.3M | $12.6M | $9.2M | $12.4M | $10.2M | $6.3M | $7.4M | $57.0K |
| Gross profit | $5.6M | $6.7M | $3.6M | $4.2M | $2.7M | $3.8M | $3.1M | $1.7M | $2.5M | $1.4M |
| Net income | $527.0K | $1.6M | -$630.0K | $686.0K | -$461.0K | $443.0K | -$294.0K | -$959.0K | $106.0K | -$1.5M |
Others in SIC 3490
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|---|---|---|---|---|
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| CR | Crane Co | $10.57B | 29.2x | 8.2% |
| MWA | Mueller Water Products, Inc. | $3.48B | 18.2x | 8.7% |
| CXT | Crane NXT, Co. | $3.27B | 22.8x | 11.4% |
| HLIO | HELIOS TECHNOLOGIES, INC. | $2.18B | 45.6x | 4.1% |
| AIOS | AIOS Tech Inc. | — | — | -98.5% |
| ZKIN | ZK International Group Co., Ltd. | — | — | 50.0% |