Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data PN Smart Energy 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
FY2023
FY2025
FY2025
Revenue
50.8
49.9
63.3
Cost of revenue
42.2
43.3
57
Gross profit
8.62
6.53
6.3
Research and development
0.61
1.87
1.68
Selling and marketing
2.46
1.81
2.34
General and administrative
2.83
1.73
4.82
Operating expenses
5.9
5.41
8.85
Operating income
2.72
1.12
-2.55
Interest expense
0.09
0.2
0.21
Interest income
0.04
0.05
0.06
Other non-operating income
-0.16
0.15
0.37
Pre-tax income
2.56
1.28
-2.18
Income tax
0.75
0.11
0.04
Net income to minority interests
0.71
0.69
0.48
Net income
1.1
0.47
-2.7
EBITDA
2.98
1.44
-2.17
EPS, basic
0.04
0.02
-0.10
EPS, diluted
0.04
0.02
-0.10
Shares, basic (weighted)
25
25
26.2
Shares, diluted (weighted)
25
25
26.2
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
5.93
5.17
9.34
Short-term investments
0.03
Receivables
10.7
9.05
Inventory
2.6
4.28
Other current assets
4.46
5.11
Total current assets
25.4
34.6
Property, plant and equipment
0.54
0.83
Lease right-of-use assets
0.1
1.64
Intangible assets
1.74
1.51
Total assets
32
45.5
Accounts payable
1.32
4.31
Deferred revenue
4.35
7.5
Total current liabilities
12.8
21.7
Lease liabilities
1.25
Total liabilities
13.2
23
Paid-in capital
2.03
8.46
Retained earnings
14.3
11.4
Other comprehensive income
0.11
-0.13
Shareholders' equity
16.4
19.9
Minority interests
2.34
2.59
Total equity
17
18.8
22.5
Total liabilities and equity
32
45.5
Cash flow statement
FY2023
FY2025
FY2025
Net income
1.81
1.17
-2.21
Depreciation and amortization
0.26
0.32
0.38
Deferred income tax
-0.03
Change in receivables
-5.98
-4.16
0.78
Change in inventory
4.9
1.55
-1.73
Cash from operations
0.55
1.6
2.87
Capital expenditures
-0.3
-0.24
-0.47
Purchases of investments
-4.03
Cash from investing
-2.27
-4.43
-4.8
Debt issued
2.45
5.13
1.73
Debt repaid
-1.28
-4.81
-2.45
Cash from financing
3.52
1.87
8.2
Exchange rate effect
-0.17
0.21
0.04
Net change in cash
1.63
-0.76
6.31
Free cash flow
0.25
1.36
2.41
Interest paid
0.09
0.2
0.12
Income taxes paid
0.04
0.03
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $2.83 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
10.0%
Gross profit / revenue.
Operating margin
-4.0%
Operating income / revenue.
EBITDA margin
-3.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-3.4%
Pre-tax income / revenue.
Net margin
-4.3%
Net income / revenue.
FCF margin
3.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
4.5%
Cash from operations / revenue.
Return on equity (ROE)
-14.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-7.0%
Net income / average total assets.
Return on invested capital (ROIC)
-18.5%
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
2.7%
Research and development expense / revenue.
Capex / revenue
0.7%
Capital expenditures / revenue.
D&A / revenue
0.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
27.0%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-3.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-327.3%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-250.4%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-672.4%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-600.0%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
79.9%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
77.4%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
21.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
42.4%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
4.6%
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
1.59x
Current assets / current liabilities.
Quick ratio
0.85x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.43x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Capex / operating cash flow
16.2%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.10
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
-$0.10
Net income per basic share, as reported (split-adjusted).
Revenue per share
$2.42
Revenue / diluted weighted shares.
FCF per share
$0.09
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.11
Cash from operations / diluted weighted shares.
Book value per share
$0.76
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.66x
Market cap / revenue.
P/B
2.10x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.27x
Market cap / tangible book value, when positive.
P/FCF
17.3x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
14.5x
Market cap / cash from operations, when positive.
EV/Sales
0.51x
Enterprise value / revenue.
EV/FCF
13.4x
Enterprise value / free cash flow, when both are positive.
FCF yield
5.8%
Free cash flow / market cap.
Earnings yield
-6.5%
Net income / market cap (the inverse of P/E).
What was PN Smart Energy Ltd's revenue in fiscal 2025?
PN Smart Energy Ltd reported revenue of $63.3M for fiscal 2025, 27% higher than the year before.
Was PN Smart Energy Ltd profitable in fiscal 2025?
No. It reported a net loss of $2.7M.
How much free cash flow did PN Smart Energy Ltd generate in fiscal 2025?
Cash from operations of $2.9M minus capital expenditures of $465.4K left free cash flow of $2.4M.
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.