Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Happy City Holdings Ltd 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
FY2023
FY2025
FY2025
Revenue
6.75
8.3
6.8
Cost of revenue
5.98
6.03
5.94
Gross profit
0.77
2.26
0.86
Selling and marketing
0.46
0.15
0.16
Operating expenses
1.76
0.95
3.13
Operating income
-0.99
1.31
-2.27
Interest expense
0.17
0.18
0.23
Other non-operating income
-0.03
0
-0.18
Pre-tax income
-1.02
1.32
-2.45
Income tax
0.06
-0
-0.02
Net income
-1.09
1.32
-2.43
EBITDA
-0.58
1.89
-1.67
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
0.18
2.94
3.37
Short-term investments
0.32
Receivables
0.04
0.03
Inventory
0.04
0.04
Other current assets
0.13
0.4
Total current assets
3.14
4.15
Property, plant and equipment
1.86
2.08
Lease right-of-use assets
1.23
1.02
Total assets
6.97
8.02
Accounts payable
0.27
0.27
Short-term debt
3.48
3.16
Total current liabilities
5.53
4.99
Lease liabilities
0.61
0.56
Total liabilities
6.37
5.81
Total debt
3.48
3.16
Paid-in capital
4.01
Retained earnings
-0.15
-2.57
Other comprehensive income
-0
0.02
Shareholders' equity
-1.46
0.6
2.21
Total equity
-1.46
0.6
2.21
Total liabilities and equity
6.97
8.02
Cash flow statement
FY2023
FY2025
FY2025
Net income
-1.09
1.32
-2.43
Depreciation and amortization
0.41
0.57
0.61
Deferred income tax
0.06
-0.02
-0.04
Change in receivables
0.01
-0.01
0
Change in inventory
0.01
-0
0
Change in payables
0.07
0.05
0.01
Cash from operations
-0.68
1.27
-1.27
Capital expenditures
-0.01
-0.77
-0.91
Purchases of investments
-0.31
Cash from investing
-0.01
-0.77
-1.22
Stock issued
0.75
Cash from financing
0.39
2.26
2.9
Exchange rate effect
-0.01
0
0.02
Net change in cash
-0.29
2.75
0.41
Free cash flow
-0.69
0.49
-2.18
Interest paid
0.06
0.11
0.11
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $3.96 on September 11, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
12.6%
Gross profit / revenue.
Operating margin
-33.4%
Operating income / revenue.
EBITDA margin
-24.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-36.1%
Pre-tax income / revenue.
Net margin
-35.7%
Net income / revenue.
FCF margin
-32.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-18.6%
Cash from operations / revenue.
Return on equity (ROE)
-173.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-32.4%
Net income / average total assets.
Return on invested capital (ROIC)
-114.4%
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%.
Capex / revenue
13.4%
Capital expenditures / revenue.
D&A / revenue
8.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-18.0%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-62.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-273.5%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-188.4%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-284.1%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-200.2%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-541.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
266.5%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
15.0%
Total assets vs the same period a year earlier. Only from a positive base.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.83x
Current assets / current liabilities.
Quick ratio
0.74x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.74x
(Cash + short-term investments) / current liabilities.
Debt / equity
1.43x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
39.4%
Total debt / total assets.
Liabilities / assets
72.5%
Total liabilities / total assets.
Net debt
-$527.0K
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
What was Happy City Holdings Ltd's revenue in fiscal 2025?
Happy City Holdings Ltd reported revenue of $6.8M for fiscal 2025, 18% lower than the year before.
Was Happy City Holdings Ltd profitable in fiscal 2025?
No. It reported a net loss of $2.4M.
How much free cash flow did Happy City Holdings Ltd generate in fiscal 2025?
Cash from operations of $1.3M minus capital expenditures of $908.2K left free cash flow of -$2.2M.
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.