Huadi International Group Co., Ltd. HUDI
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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-0.10
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $62.9M | $74.3M | $84.3M | $76.4M | $3.2M | $1.4M | — | — | — |
| Cost of revenue | $56.1M | $67.0M | $72.0M | $65.2M | $70.2M | $48.5M | $50.9M | $47.1M | — |
| Gross profit | $6.8M | $7.3M | $12.4M | $11.1M | $11.3M | $10.7M | $14.6M | $13.2M | — |
| R&D | $2.2M | $2.2M | $2.6M | $2.3M | $2.1M | $2.1M | $1.8M | $1.4M | — |
| SG&A | $7.8M | $6.8M | $7.3M | $6.5M | $6.7M | $3.9M | $4.5M | $3.3M | — |
| Total operating expenses | $9.7M | $8.9M | $9.2M | $8.8M | $8.7M | $6.1M | $6.2M | $5.0M | — |
| Operating income | -$2.9M | -$1.6M | $3.1M | $2.4M | $2.6M | $4.6M | $8.4M | $8.2M | — |
| Interest expense | — | — | $296.3K | $1.6M | $2.1M | $2.2M | $2.1M | $2.1M | — |
| Pre-tax income | -$1.9M | -$156.2K | $3.5M | $2.1M | $2.5M | $3.6M | $6.5M | $6.6M | — |
| Income tax | $494.8K | $298.6K | $220.9K | $173.0K | $89.0K | $218.9K | $1.0M | $1.3M | — |
| Net income | -$1.4M | $137.4K | $3.3M | $1.9M | $2.5M | $3.4M | $5.4M | $5.2M | — |
| EPS, basic | -0.10 | 0.01 | 0.23 | 0.15 | 0.21 | 0.34 | 0.54 | 0.52 | — |
| EPS, diluted | -0.10 | 0.01 | 0.23 | 0.15 | 0.21 | 0.34 | 0.54 | 0.52 | — |
| Shares, diluted (wtd. avg.) | 14.3M | 14.3M | 14.1M | 13.2M | 12.1M | 10.0M | 10.0M | 10.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.5M | $18.1M | $20.2M | $14.5M | $16.7M | $1.7M | $3.0M | $5.2M | $3.8M |
| Receivables | $24.8M | $18.7M | $22.6M | $19.7M | $21.3M | $15.5M | $14.5M | — | — |
| Inventory | $24.1M | $23.3M | $26.7M | $24.9M | $22.7M | $20.8M | $17.8M | — | — |
| Total current assets | $70.3M | $77.5M | $80.2M | $64.4M | $77.1M | $47.3M | $47.9M | — | — |
| Property, plant and equipment | $15.3M | $8.0M | $5.4M | $6.0M | $7.2M | $6.7M | $6.5M | — | — |
| Other intangibles | — | — | — | $1.1M | $1.2M | $1.2M | $1.2M | — | — |
| Total assets | $109.5M | $103.6M | $103.0M | $84.6M | $100.2M | $69.1M | $68.8M | — | — |
| Accounts payable | $2.7M | $1.9M | $3.4M | $2.4M | $1.7M | $1.9M | $1.1M | — | — |
| Short-term debt | $43.5K | $1.2M | $43.9K | $11.9M | $33.5M | $31.2M | $31.5M | — | — |
| Total current liabilities | $24.3M | $23.8M | $22.6M | $25.7M | $48.8M | — | — | — | — |
| Long-term debt | $8.0M | — | $5.4M | $9.3M | — | — | — | — | — |
| Total liabilities | $33.7M | $25.3M | $28.3M | $35.0M | $48.8M | $43.3M | $47.6M | — | — |
| Retained earnings | $6.3M | $7.7M | $6.7M | $3.8M | $2.1M | -$159.2K | -$3.5M | — | — |
| Total equity | $75.5M | $78.0M | $74.7M | $49.6M | $51.5M | $25.8M | $21.2M | $16.6M | $12.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.5M | $13.0M | -$2.4M | $8.0M | -$5.6M | $3.2M | $2.3M | $1.2M | — |
| Depreciation and amortisation | $614.6K | $685.7K | $657.1K | $792.9K | $735.3K | $723.6K | $617.6K | $691.7K | — |
| Stock-based compensation | $29.4K | $49.0K | $59.6K | — | — | — | — | — | — |
| Capital expenditure | $1.5M | $308.6K | $157.6K | $206.2K | $917.5K | $665.0K | $912.7K | $527.8K | — |
| Investing cash flow | -$15.0M | -$3.1M | -$3.6M | -$206.2K | -$897.3K | $59.8K | -$912.7K | -$527.8K | — |
| Financing cash flow | $10.8M | -$8.8M | $11.6M | -$9.7M | $21.3M | -$4.7M | -$3.5M | $943.5K | — |
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 0001213900-26-010177.
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 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $1.4M | $3.2M | $76.4M | $84.3M | $74.3M | $62.9M |
| Gross profit | — | $13.2M | $14.6M | $10.7M | $11.3M | $11.1M | $12.4M | $7.3M | $6.8M |
| Net income | — | $5.2M | $5.4M | $3.4M | $2.5M | $1.9M | $3.3M | $137.4K | -$1.4M |
Others in SIC 3317
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ATI | ATI INC | $21.36B | 55.0x | 5.2% |
| NWPX | NWPX Infrastructure, Inc. | $937.9M | 27.3x | 6.8% |
| LUD | Luda Technology Group Ltd | — | — | -25.3% |