HF Foods Group Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data HF Foods Group 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

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	296	291	388	567	797	1,170	1,148	1,202	1,228
Cost of revenue	252	241	324	466	645	965	944	996	1,021
Gross profit	43.9	49.6	64.2	101	152	206	204	205	208
Selling, general and administrative	32.9	41	56	106	122	195	195	198	202
Operating income	11	8.53	8.23	-344	29.5	10.6	8.97	-39.1	-33
Interest expense			1.75	4.32	4.09	7.46	11.5	11.4	11.5
Interest income	0.02	0.49	0.42	0
Other non-operating income	-0.31	0.32	-0.31	-4.15	-2.16	-10.6	1.09	-2.82	1.06
Pre-tax income	10.7	8.84	7.92	-348	27.3	0	-2.62	-46.1	-45.3
Income tax	0.62	2.49	2.44	-4.73	4.5	-0.23	0.04	1.97	-5.97
Net income to minority interests	0.43	0.07	0.51	0.29	0.68	-0.23	-0.49	0.41	-0.47
Net income	9.65	6.29	4.97	-344	22.1	0.46	-2.17	-48.5	-38.8
EBITDA	13	10.7	13.4	-325	48.6	35.5	34.9	-12.5	-4.62
EPS, basic	0.39	0.25	0.18	-6.59	0.43	0.01	-0.04	-0.92	-0.73
EPS, diluted	0.39	0.25	0.18	-6.59	0.43	0.01	-0.04	-0.92	-0.73
Shares, basic (weighted)	24.4	25.7	27.1	52.1	51.9	53.8	53.9	52.6	52.9
Shares, diluted (weighted)	24.4	25.7	27.1	52.1	52.1	53.9	53.9	52.6	52.9

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	6.09	5.49	14.5	9.58	14.8	24.3	15.2	14.5	8.64
Receivables	14.7	14.4	50	24.9	36.3	44.2
Inventory	22.7	22.2	77.5	58.5	103	120	106	97.8	107
Other current assets	0.55	1.23	4.37	4.61	5.56	2.94	2.21	1.46	2.57
Total current assets	49.9	59	151	99	160	198	179	178	194
Property, plant and equipment	21.7	22.7	37.5	143	146	140	133	150	163
Lease right-of-use assets			17.2	1.46	11.7	14.2	12.7	13.9	26
Goodwill			407	68.5	80.3	85.1	85.1	38.8	0
Intangible assets			187	176	195	194	178	162	151
Long-term investments			2.3	2.38
Other non-current assets	1.44	0.24	0.37	0.69	2.03	3.23	6.53	5.68	4.45
Total assets	80.7	82.5	803	491	597	638	597	550	542
Accounts payable	17.3	17.5	39.7	27.3	57.7	55.5
Accrued liabilities	0.99	2.15	2.61	8.85	12.1	19.6	17.3	18	15
Deferred revenue	1.35	0.17	0				1.39	3.08	0.55
Short-term debt	1.37	1.46	2.73	5.64	5.56	6.27	5.45	5.41	6.68
Total current liabilities	39	33.6	110	79.7	155	164	143	145	165
Long-term debt	14.2	13.1	18.5	88	81.8	115	109	103	99.4
Lease liabilities			12.8	1	9.25	10.6	9.41	10.1	23
Other non-current liabilities						5.47	6.89	0.73	1.66
Total liabilities	53.8	48	195	227	302	341	309	309	338
Total debt	15.6	14.6	21.3	93.7	87.4	122	114	109	106
Paid-in capital	21.5	22.9	600	588	597	598	603	604	606
Retained earnings	4.26	10.4	15.8	-328	-306	-307	-309	-357	-396
Treasury stock			-12	0		0	-7.75	-7.75	-7.75
Shareholders' equity	25.8	33.4	603	259	291	292	287	239	202
Minority interests	1.09	1.1	4.25	4.37	4.04	4.44	1.32	2	1.54
Total equity	26.9	34.1	607	264	294	296	288	241	204
Total liabilities and equity	80.7	82.5	803	491	597	638	597	550	542
Shares outstanding	24.4	27.1	52.1	51.9	53.7	53.8	52.2	52.7	53

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	10.1	6.35	5.48	-343	22.8	0.24	-2.66	-48.1	-39.3
Depreciation and amortization	2	2.13	5.14	18.9	19.1	24.9	25.9	26.7	28.4
Stock-based compensation			0	0	0.64	1.26	3.35	2.09	1.76
Deferred income tax	-0.13	0.64	-0.25	-5.92	-6.87	-5.01	-5.42	0.36	-5.58
Change in receivables	-0.8	0.2	-4.85	23.5	-11	-8.58	-4.04	-6.42	-11.2
Change in inventory	0.85	0.49	1.1	19	-19.4	-3.76	14.7	7.84	-8.85
Change in payables	0.22	0.2	-2.53	-11.9	13	15.2	-3.9	-1.03	23.7
Cash from operations	15.3	12	4.81	45.7	17.5	35.4	-1.65	22.6	25.5
Capital expenditures	-2.26	-3.08	-4.84	-0.66	-2.21	-6.29	-3.51	-12.5	-18.9
Acquisitions			0	-94	0	0
Cash from investing	-5.47	-6.37	2.78	-94.4	-41.1	-50.8	-1.51	-12.5	-20.4
Debt issued	2.58	2.25	8.38	75.6	0	46	0	0	4.2
Debt repaid	-1.88	-3.12	-6.34	-6.59	-6.6	-11.3	-7.59	-5.47	-6.86
Cash from financing	-9.69	-6.18	1.47	43.8	28.8	24.9	-5.9	-10.9	-10.9
Net change in cash	0.13	-0.6	9.05	-4.96	5.21	9.5	-9.06	-0.77	-5.83
Free cash flow	13	8.88	-0.03	45	15.3	29.1	-5.16	10.1	6.56
Interest paid	1.27	1.34	1.52	4.12	3.18	6.23	10.4	11.6	11.4
Income taxes paid	0.29	2.07	2.68	0.8	9.53	8.66	4.04	2.51	0.36

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.59 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	16.6%	Gross profit / revenue.
Operating margin	-2.8%	Operating income / revenue.
EBITDA margin	-1.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-3.2%	Pre-tax income / revenue.
Net margin	-2.8%	Net income / revenue.
FCF margin	-0.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.3%	Cash from operations / revenue.
Return on equity (ROE)	-16.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.2%	Net income / average total assets.
Return on invested capital (ROIC)	-9.4%	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%.
SG&A / revenue	16.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.6%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	0.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	12.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-10.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-11.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-35.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-39.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-32.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-15.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-11.5%	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	-4.9%	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	-1.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.3%	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	2.0%	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	0.8%	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	-0.6%	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	0.3%	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	1.11x	Current assets / current liabilities.
Quick ratio	0.10x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.10x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.49x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	18.1%	Total debt / total assets.
Liabilities / assets	62.7%	Total liabilities / total assets.
Net debt	$82.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-2.92x	Operating income / interest expense.
Working capital	$20.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	25.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$63.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	2.25x	Revenue / average total assets.
Fixed asset turnover	6.99x	Revenue / average property, plant and equipment.
Inventory turnover	9.08x	Cost of revenue / average inventory.
Days inventory	40 days	365 x average inventory / cost of revenue.
Capex / operating cash flow	111.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.64	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.
Revenue per share	$23.21	Revenue / diluted weighted shares.
FCF per share	-$0.06	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.54	Cash from operations / diluted weighted shares.
Book value per share	$3.84	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.17	Tangible book value / shares outstanding.
Cash per share	$0.34	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$85.7M	Share price x shares outstanding.
Enterprise value	$168.2M	Market cap + total debt - cash - short-term investments.
P/S	0.07x	Market cap / revenue.
P/B	0.41x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.36x	Market cap / tangible book value, when positive.
P/OCF	2.95x	Market cap / cash from operations, when positive.
EV/Sales	0.13x	Enterprise value / revenue.
FCF yield	-4.0%	Free cash flow / market cap.
Earnings yield	-40.4%	Net income / market cap (the inverse of P/E).

What was HF Foods Group Inc.'s revenue in fiscal 2025?

HF Foods Group Inc. reported revenue of $1.23B for fiscal 2025, 2.2% higher than the year before.

Was HF Foods Group Inc. profitable in fiscal 2025?

No. It reported a net loss of $38.8M.

How much free cash flow did HF Foods Group Inc. generate in fiscal 2025?

Cash from operations of $25.5M minus capital expenditures of $18.9M left free cash flow of $6.6M.

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.

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