Erayak Power Solution Group Inc. RAYA
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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
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Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $22.9M | $30.3M | $20.3M | $26.9M | $18.6M | $14.1M | — |
| Cost of revenue | $18.0M | $26.3M | $15.3M | $20.3M | $12.9M | $10.3M | — |
| Gross profit | $4.9M | $4.0M | $5.0M | $6.6M | $5.7M | $3.8M | — |
| R&D | $1.6M | $1.7M | $1.2M | $932.3K | $986.9K | $605.1K | — |
| SG&A | $4.0M | $2.3M | $2.0M | $929.5K | $690.6K | $544.6K | — |
| Total operating expenses | $6.5M | $5.6M | $4.3M | $2.6M | $2.2M | $1.5M | — |
| Operating income | -$1.6M | -$1.6M | $741.2K | $4.1M | $3.5M | $2.3M | — |
| Interest expense | $48.0K | $139.4K | $402.7K | $473.1K | $417.6K | $246.0K | — |
| Pre-tax income | -$1.4M | -$1.2M | $1.4M | $3.9M | $3.7M | $2.6M | — |
| Income tax | $28.9K | $66.3K | $193.2K | $437.8K | $301.9K | $385.7K | — |
| Net income | -$1.4M | -$1.1M | $1.2M | $3.5M | $3.4M | $2.2M | — |
| EPS, basic | -27.28 | -98.34 | 223.43 | 0.38 | 2.40 | 221.34 | — |
| Shares, diluted (wtd. avg.) | $51.0K | $11.3K | $5.5K | $9.1M | $1.4M | $10.0K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $436.8K | $1.3M | $5.9M | $7.1M | — | — | — |
| Short-term investments | $4.5M | $0 | — | — | — | — | — |
| Receivables | $13.6M | $12.0M | $6.3M | $10.0M | $1.8M | — | — |
| Inventory | $9.7M | $8.8M | $7.1M | $6.2M | $3.9M | — | — |
| Total current assets | $43.4M | $33.1M | $22.1M | $28.2M | $13.5M | — | — |
| Property, plant and equipment | $7.1M | $2.2M | $1.9M | $1.7M | $1.1M | — | — |
| Other intangibles | $2.7M | $62.0K | $31.9K | $8.8K | $11.1K | — | — |
| Total assets | $59.4M | $46.0M | $35.3M | $37.6M | $23.5M | — | — |
| Accounts payable | $6.1M | $8.3M | $5.7M | $4.7M | $4.2M | — | — |
| Short-term debt | $778.1K | $161.5K | $225.4K | $4.3M | $5.8M | — | — |
| Total current liabilities | $20.8M | $15.5M | $13.2M | $18.0M | $11.9M | — | — |
| Long-term debt | $3.4M | $3.9M | $1.9M | $217.5K | $4.7M | — | — |
| Total liabilities | $24.2M | $19.4M | $15.1M | $18.3M | $16.6M | — | — |
| Total equity | $35.3M | $26.6M | $20.2M | $19.3M | $6.9M | $3.4M | $969.5K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.2M | -$15.9M | $6.7M | -$4.2M | $4.6M | -$7.9M | — |
| Depreciation and amortisation | $574.1K | $431.9K | $388.0K | $269.8K | $215.1K | $46.7K | — |
| Capital expenditure | $5.2M | $517.8K | $684.2K | $694.8K | $244.0K | $176.6K | — |
| Investing cash flow | -$12.4M | -$971.8K | -$1.4M | -$4.9M | -$244.2K | -$186.0K | — |
| Financing cash flow | $14.3M | $12.4M | -$6.4M | $11.3M | -$3.4M | $10.9M | — |
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 0001185185-26-002809.
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