Mingteng International Corp Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Mingteng International Corp 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	FY2023	FY2024	FY2025
Revenue	8.03	8.23	10.1	11.7
Cost of revenue	4.11	4.9	7.05	9.04
Gross profit	3.91	3.32	3.07	2.63
Research and development	0.49	0.63	0.63	0.78
General and administrative	0.93	0.8	7.4	2.1
Operating expenses	1.55	1.58	8.18	3.05
Operating income	2.36	1.74	-5.11	-0.42
Interest expense	0.05	0.06	0.04	0.04
Interest income	0	0	0	0
Other non-operating income	0.1	0.11	-0.49	-1.32
Pre-tax income	2.46	1.85	-5.6	-1.75
Income tax	0.33	0.34	0.08	0.04
Net income	2.13	1.51	-5.68	-1.79
EBITDA	2.63	2.15	-4.6	0.16
EPS, basic	78.72	54.92	-194.28
EPS, diluted	78.72	54.92	-194.28
Shares, basic (weighted)	0.03	0.03	0.03
Shares, diluted (weighted)	0.03	0.03	0.03

Balance sheet

	FY2023	FY2023	FY2024	FY2025
Cash and equivalents	1.79	1.06	2.08	1.45
Short-term investments				0.18
Receivables	2.43	3.52	4.17	4.96
Inventory	1.06	1.22	1.18	1.56
Total current assets	6.32	6.66	8.64	9.86
Property, plant and equipment	2.65	3.34	3.86	4.9
Lease right-of-use assets	0.55		0.04	1.12
Intangible assets			0.07	0.04
Long-term investments			1.36
Other non-current assets				15.3
Total assets	10.1	10.7	14	31.3
Accounts payable	0.72	1.05	1.28	3.61
Deferred revenue		0.4	0.52	0.11
Total current liabilities	3.93	3.02	5.27	8.3
Long-term debt	0.07
Lease liabilities			0.02	0.73
Total liabilities	3.99	3.27	5.51	9.2
Paid-in capital	0.9	0.9	7.62	22.8
Retained earnings	4.96	6.47	0.79	-1
Other comprehensive income	-0.25	-0.38	-0.42	-0.24
Shareholders' equity	6.07	7.45	8.45	22.1
Total equity	6.07	7.45	8.45	22.1
Total liabilities and equity	10.1	10.7	14	31.3
Shares outstanding	0.03	5	0.03

Cash flow statement

	FY2023	FY2023	FY2024	FY2025
Net income	2.13	1.51	-5.68	-1.79
Depreciation and amortization	0.27	0.4	0.52	0.58
Stock-based compensation			4.41	0.75
Deferred income tax	-0	0.25	-0.02	-0.05
Change in receivables	-0.49	-1.13	-0.71	-0.73
Change in inventory	0.19	-0.18	-0.04	-0.43
Change in payables	0.22	0.35	0.08	1.54
Cash from operations	2.85	1.3	0.29	-0.1
Capital expenditures	-1.44	-0.76	-0.95	-1.01
Purchases of investments				-2
Cash from investing	-1.43	-0.76	-3.43	-16.1
Stock issued				15.2
Dividends paid	-0.35
Cash from financing	0.17	-1.25	4.15	15.5
Exchange rate effect	-0.1	-0.03	0.01	0.03
Net change in cash	1.49	-0.74	1.02	-0.63
Free cash flow	1.41	0.54	-0.65	-1.11
Interest paid	0.1	0.06	0.04	0.04
Income taxes paid	0.05	0.21	0.11	0.17

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.02 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	22.5%	Gross profit / revenue.
Operating margin	-3.6%	Operating income / revenue.
EBITDA margin	1.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-15.0%	Pre-tax income / revenue.
Net margin	-15.3%	Net income / revenue.
FCF margin	-9.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-0.9%	Cash from operations / revenue.
Return on equity (ROE)	-11.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-7.9%	Net income / average total assets.
Return on invested capital (ROIC)	-2.5%	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	6.7%	Research and development expense / revenue.
Stock-based pay / revenue	6.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.6%	Capital expenditures / revenue.
D&A / revenue	5.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	15.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	13.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	-14.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-12.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 3y	-60.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-135.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	160.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	53.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	123.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	45.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.19x	Current assets / current liabilities.
Quick ratio	0.79x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.20x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	29.4%	Total liabilities / total assets.
Interest coverage	-10.9x	Operating income / interest expense.
Working capital	$1.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$22.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.52x	Revenue / average total assets.
Fixed asset turnover	2.67x	Revenue / average property, plant and equipment.
Inventory turnover	6.59x	Cost of revenue / average inventory.
Days inventory	55 days	365 x average inventory / cost of revenue.
Receivables turnover	2.55x	Revenue / average receivables.
Days sales outstanding	143 days	365 x average receivables / revenue.
Days payables	99 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	100 days	Days inventory + days sales outstanding - days payables.

Valuation

Metric	Value	How it is calculated
Market cap	$7.8M	Share price x shares outstanding.
Enterprise value	$6.2M	Market cap + total debt - cash - short-term investments.
P/S	0.67x	Market cap / revenue.
P/B	0.35x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.35x	Market cap / tangible book value, when positive.
EV/Sales	0.53x	Enterprise value / revenue.
EV/EBITDA	38.7x	Enterprise value / EBITDA, when both are positive.
FCF yield	-14.2%	Free cash flow / market cap.
Earnings yield	-22.9%	Net income / market cap (the inverse of P/E).

What was Mingteng International Corp Inc.'s revenue in fiscal 2025?

Mingteng International Corp Inc. reported revenue of $11.7M for fiscal 2025, 15.3% higher than the year before.

Was Mingteng International Corp Inc. profitable in fiscal 2025?

No. It reported a net loss of $1.8M.

How much free cash flow did Mingteng International Corp Inc. generate in fiscal 2025?

Cash from operations of $104.1K minus capital expenditures of $1.0M left free cash flow of -$1.1M.

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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