Ebang International Holdings Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Ebang International Holdings Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
319
109
19
51.5
32.3
4.86
5.87
6.54
Cost of revenue
295
140
21.9
22.2
16.9
21.6
4.68
6.14
Gross profit
24.4
-30.6
-2.9
29.2
15.4
-16.7
1.19
0.39
Research and development
43.5
13.4
8.46
6.56
5.15
7.4
5.43
4.09
Selling and marketing
0.01
0.01
0
0
General and administrative
51.4
18.9
22.8
25.8
40.7
29
30.5
22.7
Operating expenses
55.5
20.1
23.7
27.2
63.4
36.9
31.6
25.7
Operating income
-31.1
-50.6
-26.6
2.03
-48
-53.6
-30.4
-25.3
Interest expense
0.92
2.04
0.73
0
Interest income
0.45
0.22
0.8
1.78
4.36
11.9
11.4
8.51
Other non-operating income
20.1
9.98
3.79
0.36
2.16
14.6
9.46
10.8
Pre-tax income
-10.9
-40.7
-22.9
2.39
-45.8
-39.1
-20.9
-14.5
Income tax
0.9
0.4
9.25
-0.38
-0.07
-1.03
-0.04
-0.32
Income from continuing operations
-41.1
-32.1
2.77
Net income to minority interests
0.49
1.33
-1.44
-1.66
-1.87
-1.26
-0.62
-0.07
Net income
-12.3
-42.4
-32.1
4.43
-43.9
-36.8
-20.3
-14.1
EBITDA
-26.3
-41.8
-19.5
8.29
-37.3
-50.1
-27.8
-22.7
EPS, basic
-10.87
-11.48
-7.55
0.75
-7.03
-5.86
-3.22
-2.24
EPS, diluted
-10.87
-11.48
-7.55
0.75
-7.03
-5.86
-3.22
-2.24
Shares, basic (weighted)
1.12
3.7
4.06
5.92
6.25
6.28
6.28
6.28
Shares, diluted (weighted)
1.12
3.7
4.06
5.93
6.25
6.28
6.28
6.28
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
19.5
3.46
13.7
240
251
242
214
200
Short-term investments
40.8
35.4
5.84
0.5
4.91
6.17
Receivables
8.13
7.21
9.87
3.33
0.95
1.59
1.1
Inventory
13.1
3.85
7.14
0.44
0.2
0.6
3.64
Other current assets
0.22
1.13
4.99
6.71
5.69
5.68
3.76
Total current assets
28.8
68.6
299
269
250
231
216
Property, plant and equipment
13.2
29.1
33.3
36.5
33.2
29.9
29.8
Lease right-of-use assets
1.28
0.9
2.13
5.34
6.12
3.35
3.61
Goodwill
2.3
1.28
Intangible assets
3.78
23.1
22.5
6.89
2.33
3.34
2.2
Other non-current assets
4.92
0.54
0.71
1.42
1.79
5.76
2.64
Total assets
82.6
144
386
344
298
276
257
Accounts payable
11.8
2.76
3.39
1.46
0.29
0.29
0.44
Deferred revenue
0.07
1.01
0.07
0.06
Total current liabilities
39
34.3
14.7
15.5
12
11.9
7.91
Long-term debt
0.12
2
5.76
Lease liabilities
0.36
0.12
1.71
5.76
4.88
2.88
3.43
Other non-current liabilities
0.38
0.36
Total liabilities
57
34.4
16.9
22.4
16.9
15.4
11.7
Total debt
0.77
2
5.76
Paid-in capital
23.9
138
394
398
397
396
396
Retained earnings
-7.91
-38.6
-34.2
-78.1
-115
-135
-149
Other comprehensive income
-9.07
-7.65
-6.9
-11.7
-13.9
-12.9
-13.8
Shareholders' equity
67.8
25.6
110
369
319
280
260
244
Minority interests
7.59
6.7
2.86
1.48
0.77
0.81
Total equity
67.8
25.6
110
369
322
281
260
245
Total liabilities and equity
82.6
144
386
344
298
276
257
Shares outstanding
3.7
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-11.8
-41.1
-32.1
2.77
-45.8
-38
-20.9
-14.2
Depreciation and amortization
4.8
8.86
7.15
6.26
10.7
3.52
2.6
2.55
Stock-based compensation
0.71
3.9
-0.15
-1.01
0.36
Deferred income tax
-9.67
-0.13
8.63
-2.85
-0.08
-1.03
-0.04
-0.32
Change in receivables
-7.05
13.3
-1.35
0.33
2.88
2.61
0.05
0.26
Change in inventory
-83.7
49.2
9.73
-5.39
-0.19
-0.12
-0.19
-2.75
Change in payables
13.6
-31.5
-9.23
0.56
-1.79
Cash from operations
-108
-13.3
-15.5
-15.8
5.15
-11.5
-17.6
-9.05
Capital expenditures
-5.94
-5.83
-10.8
-6.15
-3.8
-0.99
-0.22
-4.5
Acquisitions
-5.86
-0.32
Purchases of investments
-79.9
-472
-28.6
-36.3
-17.1
Sales and maturities of investments
39.1
474
55.1
5.69
31.6
16.1
Cash from investing
-6.28
-5.81
-63.2
-6.51
5.75
2.63
-9.89
-5.37
Debt issued
13.2
7.07
0.77
Debt repaid
-8.33
-4.87
-0.77
Stock issued
0.59
114
255
Cash from financing
14
8.55
92.1
248
Exchange rate effect
0.88
0.39
-0.41
-0.41
0.43
Net change in cash
-114
-13.7
8.35
227
11.3
-9.31
-27.9
-14
Free cash flow
-114
-19.1
-26.4
-22
1.35
-12.5
-17.8
-13.5
Interest paid
0.48
1.32
1.49
0
Income taxes paid
11.8
8.12
0.29
0
0.01
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $2.06 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
6.0%
Gross profit / revenue.
Operating margin
-387.0%
Operating income / revenue.
EBITDA margin
-347.9%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-221.6%
Pre-tax income / revenue.
Net margin
-215.6%
Net income / revenue.
FCF margin
-207.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-138.4%
Cash from operations / revenue.
Return on equity (ROE)
-5.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-5.3%
Net income / average total assets.
Return on invested capital (ROIC)
-44.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
62.6%
Research and development expense / revenue.
Stock-based pay / revenue
5.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
68.8%
Capital expenditures / revenue.
D&A / revenue
39.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
11.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-41.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-19.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-66.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-70.5%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-5.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-8.5%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
17.3%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-6.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-9.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
12.2%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
0.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
9.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
27.3x
Current assets / current liabilities.
Quick ratio
26.2x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
26.1x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.24
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$2.24
Net income per basic share, as reported (split-adjusted).
Revenue per share
$1.04
Revenue / diluted weighted shares.
FCF per share
-$2.16
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.44
Cash from operations / diluted weighted shares.
Book value per share
$38.89
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
2.06x
Market cap / revenue.
P/B
0.06x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.06x
Market cap / tangible book value, when positive.
FCF yield
-100.5%
Free cash flow / market cap.
Earnings yield
-104.5%
Net income / market cap (the inverse of P/E).
What was Ebang International Holdings Inc.'s revenue in fiscal 2025?
Ebang International Holdings Inc. reported revenue of $6.5M for fiscal 2025, 11.4% higher than the year before.
Was Ebang International Holdings Inc. profitable in fiscal 2025?
No. It reported a net loss of $14.1M.
How much free cash flow did Ebang International Holdings Inc. generate in fiscal 2025?
Cash from operations of $9.0M minus capital expenditures of $4.5M left free cash flow of -$13.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.