Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data HWH International 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
FY2022
FY2023
FY2024
FY2024
FY2025
Revenue
0.83
1.25
0.87
Cost of revenue
0.33
0.65
0.41
Gross profit
0.5
0.6
0.46
General and administrative
0.59
1.12
2.91
2.81
3.53
Operating expenses
0.69
1.24
3.4
3.19
3.65
Interest expense
0.07
0.05
Interest income
0.99
2.22
Other non-operating income
0.99
2.22
2.25
-0.18
0.58
Pre-tax income
0.3
0.97
-0.66
-2.77
-2.61
Income tax
0.19
0.42
0.42
0.05
Net income to minority interests
0
-0.02
-0.03
Net income
0.11
0.55
-1.08
-2.75
-2.63
EPS, basic
-0.76
-0.40
EPS, diluted
-0.76
-0.40
Shares, basic (weighted)
3.61
6.56
Shares, diluted (weighted)
3.61
6.56
Balance sheet
FY2022
FY2023
FY2024
FY2024
FY2025
Cash and equivalents
1.17
0.59
1.16
4.34
2.09
Short-term investments
0.01
0.08
Inventory
0
0
0
Other current assets
0.01
0.12
0.11
4.11
0
Total current assets
1.19
0.7
1.34
5.47
2.97
Property, plant and equipment
0.13
0.03
0.02
Lease right-of-use assets
0.6
0.55
0.09
Goodwill
0
0.12
Long-term investments
0
0
Other non-current assets
0
Total assets
89.3
22
23.7
6.41
4.57
Accounts payable
0.38
0.63
0.17
0.48
0.31
Total current liabilities
0.38
0.84
6.02
3.31
1.28
Long-term debt
0.47
Lease liabilities
0.18
0.22
0.01
Total liabilities
3.4
3.86
27.3
3.53
1.88
Paid-in capital
0.16
9.34
12.5
Retained earnings
-2.03
-2.36
-3.57
-6.32
-8.95
Other comprehensive income
-0.2
-0.26
-0.9
Shareholders' equity
-2.03
-2.36
-3.61
2.77
2.62
Minority interests
0.01
0.11
0.07
Total equity
-2.03
-2.36
-3.6
2.88
2.68
Total liabilities and equity
89.3
22
23.7
6.41
4.57
Shares outstanding
0
5.59
7.48
Cash flow statement
FY2022
FY2023
FY2024
FY2024
FY2025
Net income
0.11
0.55
-1.08
-2.77
-2.66
Depreciation and amortization
0.06
0.05
0.02
Stock-based compensation
1.58
Deferred income tax
0.19
0.42
Change in receivables
0.19
0.01
0.01
Change in inventory
0
0
0
Change in payables
0.37
0.26
Cash from operations
-0.51
-1.52
-2.6
-1.82
-1.75
Capital expenditures
-0.01
-0.03
-0.02
Purchases of investments
-0.01
-0.09
Cash from investing
-87.1
69.1
68.4
20.5
-1.19
Stock issued
3.59
1.41
Share buybacks
-68.4
-68.4
-21.1
Cash from financing
88.8
-68.1
-67.5
-15.6
0.93
Net change in cash
1.12
-0.59
-1.63
3.04
-2
Free cash flow
-2.61
-1.85
-1.77
Interest paid
0
0
Income taxes paid
0.05
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 $2.68 on September 21, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
86.1%
Gross profit / revenue.
Pre-tax margin
-682.1%
Pre-tax income / revenue.
Net margin
-657.6%
Net income / revenue.
FCF margin
-245.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-240.3%
Cash from operations / revenue.
Return on equity (ROE)
-93.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-56.8%
Net income / average total assets.
Capex / revenue
4.8%
Capital expenditures / revenue.
D&A / revenue
4.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-30.8%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-23.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-5.3%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-28.7%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
81.9%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.82x
Current assets / current liabilities.
Quick ratio
0.99x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.99x
(Cash + short-term investments) / current liabilities.
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
$0.05
Revenue / diluted weighted shares.
FCF per share
-$0.13
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.12
Cash from operations / diluted weighted shares.
Book value per share
$0.35
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
204x
Market cap / revenue.
P/B
29.1x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
29.1x
Market cap / tangible book value, when positive.
EV/Sales
200x
Enterprise value / revenue.
FCF yield
-1.2%
Free cash flow / market cap.
Earnings yield
-3.2%
Net income / market cap (the inverse of P/E).
What was HWH International Inc.'s revenue in fiscal 2025?
HWH International Inc. reported revenue of $866.9K for fiscal 2025, 30.8% lower than the year before.
Was HWH International Inc. profitable in fiscal 2025?
No. It reported a net loss of $2.6M.
How much free cash flow did HWH International Inc. generate in fiscal 2025?
Cash from operations of $1.8M minus capital expenditures of $19.5K left free cash flow of -$1.8M.
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.