Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data MaxsMaking 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
FY2023
FY2025
FY2025
Revenue
26.3
21.4
29.2
Cost of revenue
22
17.5
26.6
Gross profit
4.21
3.97
2.62
Research and development
0.74
0.56
0.65
Selling and marketing
0.49
0.61
0.46
General and administrative
0.57
0.6
1.4
Operating expenses
1.8
1.77
2.51
Operating income
2.41
2.2
0.1
Interest expense
0.07
0.15
0.16
Interest income
0
0
0
Pre-tax income
2.29
2.15
0.09
Income tax
0.31
0.27
0.07
Net income to minority interests
0.07
0.07
0.02
Net income
1.91
1.81
0
EBITDA
2.43
2.23
0.13
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
0.13
0.18
0.12
Receivables
6.19
9.88
Inventory
2.63
6.5
Other current assets
7.45
5
Total current assets
16.5
21.5
Property, plant and equipment
0.12
0.15
Lease right-of-use assets
0.09
0.07
Intangible assets
0.01
0.01
Total assets
17.7
21.8
Accounts payable
2.13
3.24
Deferred revenue
0.51
0.45
Short-term debt
2.79
0.02
Total current liabilities
7.35
6.89
Long-term debt
2.06
2.28
Lease liabilities
0.06
Total liabilities
9.41
9.23
Total debt
2.06
2.3
Paid-in capital
1.71
5.97
Retained earnings
5.81
5.73
Other comprehensive income
-0.42
-0.37
Shareholders' equity
7.95
12.3
Minority interests
0.31
0.33
Total equity
5.56
8.27
12.6
Total liabilities and equity
17.7
21.8
Cash flow statement
FY2023
FY2025
FY2025
Net income
1.98
1.88
0.02
Depreciation and amortization
0.02
0.03
0.03
Deferred income tax
-0.02
-0.04
Change in receivables
1.9
0.17
-3.79
Change in inventory
0.06
-0.41
-3.82
Change in payables
-4.28
1.09
1.09
Cash from operations
-0.6
-3.04
-5.29
Capital expenditures
-0.07
-0.02
-0.06
Cash from investing
0.74
-0.02
-0.06
Stock issued
5.59
Cash from financing
-0.33
3.1
5.3
Exchange rate effect
0
0
-0.01
Net change in cash
-0.19
0.04
-0.05
Free cash flow
-0.67
-3.06
-5.34
Interest paid
0.07
0.15
0.16
Income taxes paid
0.22
0.01
0.02
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $13.00 on July 7, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
9.0%
Gross profit / revenue.
Operating margin
0.4%
Operating income / revenue.
EBITDA margin
0.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
0.3%
Pre-tax income / revenue.
Net margin
0.0%
Net income / revenue.
FCF margin
-18.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-18.1%
Cash from operations / revenue.
Effective tax rate
78.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
0.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
0.0%
Net income / average total assets.
Return on invested capital (ROIC)
0.7%
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
2.2%
Research and development expense / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
0.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
36.3%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-34.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-95.3%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-94.0%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-99.9%
Net income vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
54.5%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
23.6%
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
3.13x
Current assets / current liabilities.
Quick ratio
1.45x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.02x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.19x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
10.5%
Total debt / total assets.
Liabilities / assets
42.3%
Total liabilities / total assets.
Net debt
$2.2M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
16.2x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Days inventory + days sales outstanding - days payables.
FCF conversion
-263,703.0%
Free cash flow / net income, when net income is positive.
What was MaxsMaking Inc.'s revenue in fiscal 2025?
MaxsMaking Inc. reported revenue of $29.2M for fiscal 2025, 36.3% higher than the year before.
Was MaxsMaking Inc. profitable in fiscal 2025?
Yes. Net income was $2.0K, a net margin of 0%.
How much free cash flow did MaxsMaking Inc. generate in fiscal 2025?
Cash from operations of $5.3M minus capital expenditures of $56.9K left free cash flow of -$5.3M.
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.