Anbio Biotechnology financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Anbio Biotechnology 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	FY2024	FY2024	FY2025
Revenue	23.5	6.71	8.19	8.65
Cost of revenue	11	3.35	2.3	1.1
Gross profit	12.6	3.36	5.89	7.54
Research and development	0.2	0.13	0.45	0.2
Selling, general and administrative	2.17	1.27	3.44	1.57
Operating expenses	2.37	1.4	3.89	1.78
Operating income	10.2	1.96	2	5.77
Interest expense	0.01
Interest income	0.04	0.17	0.34	0.14
Other non-operating income	-0.18	0.29	0.38	0.64
Pre-tax income	10	2.25	2.37	6.4
Income tax		0	0	0
Net income	10	2.25	2.37	6.4
EPS, basic	100,112.00	0.11	0.06	0.15
EPS, diluted	100,112.00	0.11	0.06	0.15
Shares, basic (weighted)	0	21.4	42.3	43.7
Shares, diluted (weighted)	0	21.4	42.3	43.7

Balance sheet

	FY2022	FY2024	FY2024	FY2025
Cash and equivalents	7.1	9.69	11.8	7.77
Short-term investments			0	4.13
Receivables		1.88	1.06	3.66
Other current assets		0.4	5.68	14.1
Total current assets		15.7	18.5	30.2
Total assets		15.8	18.9	30.2
Accounts payable		0.83	1.63	0
Total current liabilities		0.99	1.73	0.09
Total liabilities		0.99	1.73	0.09
Paid-in capital		0	0	6.56
Retained earnings		14.8	17.2	23.6
Shareholders' equity	12.5	14.8	17.2	30.2
Total equity	12.5	14.8	17.2	30.2
Total liabilities and equity		15.8	18.9	30.2

Cash flow statement

	FY2022	FY2024	FY2024	FY2025
Net income	10	2.25	2.37	6.4
Change in receivables	0.72	-1.88	0.82	-2.59
Change in inventory	-0.35	0.35
Change in payables	-0.48	-0.58	0.8	-1.63
Cash from operations	4.45	0.9	2.08	-6.74
Purchases of investments	-16.1	-18.5	-35.5	-19.4
Sales and maturities of investments	14.6	20.3	35.8
Cash from investing	-1.53	1.73	0.34	-4.2
Stock issued		0	0	7.23
Cash from financing		-0.04	-0.34	6.95
Net change in cash	2.92	2.59	2.07	-3.99

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $6.30 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	87.2%	Gross profit / revenue.
Operating margin	66.7%	Operating income / revenue.
Pre-tax margin	74.1%	Pre-tax income / revenue.
Net margin	74.1%	Net income / revenue.
Operating cash flow margin	-77.9%	Cash from operations / revenue.
Effective tax rate	0.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	27.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	26.0%	Net income / average total assets.
Return on invested capital (ROIC)	41.5%	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	2.3%	Research and development expense / revenue.
SG&A / revenue	18.2%	Selling, general and administrative expense / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-28.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	28.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-15.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	189.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-17.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	169.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-13.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	162.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-98.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-423.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	75.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	33.9%	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	59.8%	Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y	3.3%	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	7,487.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	344x	Current assets / current liabilities.
Quick ratio	177x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	135x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	0.3%	Total liabilities / total assets.
Working capital	$30.2M	Current assets - current liabilities.
Tangible book value	$30.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.35x	Revenue / average total assets.
Receivables turnover	3.66x	Revenue / average receivables.
Days sales outstanding	100 days	365 x average receivables / revenue.
Days payables	269 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.15	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.
EPS, basic	$0.15	Net income per basic share, as reported (split-adjusted).
Revenue per share	$0.20	Revenue / diluted weighted shares.
Operating cash flow per share	-$0.15	Cash from operations / diluted weighted shares.
Book value per share	$0.69	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.69	Tangible book value / shares outstanding.
Cash per share	$0.27	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$906.5M	Share price x shares outstanding.
Enterprise value	$894.6M	Market cap + total debt - cash - short-term investments.
P/E	142x	Market cap / net income. Only when net income is positive.
P/S	105x	Market cap / revenue.
P/B	30.1x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	30.1x	Market cap / tangible book value, when positive.
EV/Sales	103x	Enterprise value / revenue.
EV/EBIT	155x	Enterprise value / operating income, when both are positive.
Earnings yield	0.7%	Net income / market cap (the inverse of P/E).

What was Anbio Biotechnology's revenue in fiscal 2025?

Anbio Biotechnology reported revenue of $8.6M for fiscal 2025, 5.6% higher than the year before.

Was Anbio Biotechnology profitable in fiscal 2025?

Yes. Net income was $6.4M, a net margin of 74.1%.

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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