Oriental Culture Holding LTD financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Oriental Culture Holding LTD 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

	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	13.4	17.4	37.6	17.8	1.58	0.62	1.89
Cost of revenue	1.33	2.64	2.43	1	0.41	0.18	0.27
Gross profit	12.1	14.8	35.2	16.8	1.17	0.44	1.62
Research and development						0.11
Selling, general and administrative	0.55	4.24	15.6	7.67
Selling and marketing	0.55		15.6	7.67	0.62	0.21	0.33
General and administrative	2.04	6.94	8.1	6.28	4.66	3.33	4.59
Operating expenses	3.14	13.2	24.3	14.2	5.51	3.64	5.46
Operating income	8.98	1.65	10.9	2.59	-4.34	-3.2	-3.84
Interest income			0.2	0.23	0.37	0.76	0.67
Other non-operating income	0.11	0.4	0.56	0.65	0.75	0.76	-0.12
Pre-tax income	8.77	2.05	11.4	3.24	-3.58	-2.43	-3.97
Income tax				0	0.01	0	-0.11
Net income	9.09	2.05	11.4	3.24	-3.6	-2.43	-3.86
EBITDA	9.09	1.77	11.3	3.24	-3.73	-2.71	-3.64
EPS, basic	2,112.00	428.93	1,848.00	509.93	-556.29	-121.44	-107.26
EPS, diluted	1,914.00	428.93	1,848.00	509.93	-556.29	-121.44	-107.26
Shares, basic (weighted)	0	0	0.01	0.01	0.01	0.02	0.04
Shares, diluted (weighted)	0	0	0.01	0.01	0.01	0.02	0.04

Balance sheet

	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	9.18	21.3	29.4	17.2	17.7	17.1	32.3
Short-term investments	1.75	1.06	3.75		3.25	5.29	3.02
Receivables	1.26	0.4	0.05	0		0	0.38
Inventory						1.23	0.57
Other current assets	0.03	0.2	1.39	4.44	0.13	1.07	0.3
Total current assets	12.2	39	36.1	42.2	37.9	41.9	56.9
Property, plant and equipment	0.46	0.37	9.9	9.42	9.17	8.65	8.51
Lease right-of-use assets		0.03	0.03	0.03	0.01
Intangible assets	0.74	0.57	1.12	0.82	0.53	1.55	0.01
Long-term investments		0.54	0.55	0.93	0.92	0.9	0.92
Other non-current assets	2.02	1.71	4.82	1.78	1.57	2.45	1.07
Total assets	14.7	41.1	50.8	53.4	48.6	53	66.5
Accounts payable	0.33	1.23	1.63	2.96	2.57	2.42	1.03
Deferred revenue	0.18	0.24	0.7	0.45	0.18	0.08	0
Total current liabilities	1.61	7.54	3.65	3.76	3.08	3.13	1.89
Lease liabilities				0.01
Total liabilities	1.61	7.54	3.65	3.77	3.08	3.13	1.89
Paid-in capital	1.61	18.9	21.9	22.3	22.4	29.7	47.5
Retained earnings	11.6	13.6	25.1	28.3	24.7	22.3	18.4
Treasury stock	-0	-0	-0	-0	-0	-0	-0
Other comprehensive income	-0.22	0.92	1.1	-1.18	-1.74	-2.22	-1.47
Shareholders' equity	13.1	33.6	47.2	49.6	45.5	49.9	64.6
Total equity	13.1	33.6	47.2	49.6	45.5	49.9	64.6
Total liabilities and equity	14.7	41.1	50.8	53.4	48.6	53	66.5
Shares outstanding	0	0.01	0.03	0.01	4.27	0.03	0.15

Cash flow statement

	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	9.09	2.05	11.4	3.24	-3.6	-2.43	-3.86
Depreciation and amortization	0.11	0.12	0.4	0.65	0.61	0.49	0.2
Stock-based compensation				0.46	0.09	0.57	3.79
Deferred income tax							-0.14
Change in receivables	-0.36	0.78	0.25	-0	0	-0	-0.91
Change in inventory						-1.24	0.68
Change in payables	0.32	4.39	-3.25	1.52
Cash from operations	9.56	6.61	9.02	-1.21	3.62	-4.01	0.08
Capital expenditures	-0.27	-0.01	-9.6	-0.71	-0.19	-0.06
Acquisitions		-12.6	13.2
Purchases of investments	-4.16	-24.4	-44.9	-0.45	-14.6	-45.6	-143
Cash from investing	-1.44	-11.8	-2.81	0.61	-0.51	-11.6	-5.17
Stock issued		18.1	2	1			14.1
Dividends paid		-4	-4		-4
Cash from financing	-0.85	18.1	2	1	0.6	7	13.8
Exchange rate effect	-0.1	0.48	-0.13	-0.81	-0.27	-0.32	0.12
Net change in cash	7.17	13.3	8.09	-0.41	3.44	-8.88	8.78
Free cash flow	9.29	6.6	-0.57	-1.92	3.43	-4.07
Income taxes paid					-0.19

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.49 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	85.7%	Gross profit / revenue.
Operating margin	-203.5%	Operating income / revenue.
EBITDA margin	-192.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-210.1%	Pre-tax income / revenue.
Net margin	-204.3%	Net income / revenue.
Operating cash flow margin	4.1%	Cash from operations / revenue.
Return on equity (ROE)	-6.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.5%	Net income / average total assets.
Return on invested capital (ROIC)	-9.3%	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%.
Stock-based pay / revenue	200.7%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	10.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	203.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-52.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-35.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	267.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-54.2%	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	-35.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-58.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	29.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.2%	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	14.0%	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	25.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.6%	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	10.1%	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	79.5%	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	78.0%	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	50.0%	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	30.1x	Current assets / current liabilities.
Quick ratio	18.9x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	18.7x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	2.8%	Total liabilities / total assets.
Working capital	$55.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$64.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.03x	Revenue / average total assets.
Fixed asset turnover	0.22x	Revenue / average property, plant and equipment.
Inventory turnover	0.30x	Cost of revenue / average inventory.
Days inventory	1,212 days	365 x average inventory / cost of revenue.
Receivables turnover	10.0x	Revenue / average receivables.
Days sales outstanding	36 days	365 x average receivables / revenue.
Days payables	2,322 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-1,073 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$107.26	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	-$107.26	Net income per basic share, as reported (split-adjusted).
Revenue per share	$52.51	Revenue / diluted weighted shares.
Operating cash flow per share	$2.14	Cash from operations / diluted weighted shares.
Book value per share	$433.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$433.89	Tangible book value / shares outstanding.
Cash per share	$237.24	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.9M	Share price x shares outstanding.
Enterprise value	-$32.5M	Market cap + total debt - cash - short-term investments.
P/S	1.53x	Market cap / revenue.
P/B	0.04x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.04x	Market cap / tangible book value, when positive.
P/OCF	37.5x	Market cap / cash from operations, when positive.
Earnings yield	-133.6%	Net income / market cap (the inverse of P/E).

What was Oriental Culture Holding LTD's revenue in fiscal 2025?

Oriental Culture Holding LTD reported revenue of $1.9M for fiscal 2025, 203.3% higher than the year before.

Was Oriental Culture Holding LTD profitable in fiscal 2025?

No. It reported a net loss of $3.9M.

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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