Ridgetech Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Ridgetech 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

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	117	133	164	149	155	120	132
Cost of revenue	91.8	133	164	149	119	116	127
Gross profit	25.5	29.2	36.5	3.6	4.88	3.84	4.75
Selling and marketing	0.26	0.31	0.36	0.49	0	0	0.8
General and administrative	8.11	6.96	8.19	5.14	3.35	3.34	3.58
Operating expenses	32.5	38.1	39.2	16.8	4.28	4.87	6.62
Operating income	-7	-8.84	-2.69	-13.2	0.6	-1.04	-1.87
Interest expense	0.7	0.46	0.26	-0.03	-0.2	-0.09	0.07
Interest income					0.2	0.09	0.46
Other non-operating income	-0.2	0.18	0.46	0.09	-1.42	0.08	0.52
Pre-tax income	-6.44	-8.34	-2.1	-15.4	-0.83	-0.95	-1.35
Income tax	0.02	0.03	1.1	0.39	-0.04	0.5	-0.1
Income from continuing operations				21.1
Net income to minority interests		-0.26	-0.01	-0	-0	0.01
Net income	-5.81	-8.12	-3.19	-21.1	-4.23	10.2	-1.25
EBITDA	-4.92	-7.09	-1.44	-12.4	1.39	0.1	-1.5
EPS, basic	-6,466.00	-7,155.00	-2,754.00	-6,223.00	-439.78	275.87	-17.21
EPS, diluted	-6,467.00	-7,155.00	-2,754.00	-6,223.00	-439.78	275.87	-17.21
Shares, basic (weighted)	0	0	0	0	0.01	0.04	0.07
Shares, diluted (weighted)	0	0	0	0	0.01	0.04	0.07

Balance sheet

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	31	22	18.5	18.8	2.3	12.8	17.9
Receivables		13.4	16.7	14.1	6.01	27.8	32.5
Inventory		17	16	15.3	9.08	9.76	8.26
Other current assets		1.56	0.92	0.62	0.57	0.75	0.29
Total current assets		72.2	75.4	64.5	69.7	59.7	64.6
Property, plant and equipment		6.55	5.92	5.1	0.01	0.01	0.01
Lease right-of-use assets		16.8	13.7	13.9	13.8
Goodwill						1.46	1.46
Intangible assets		3.53	3.55	3.2	1.28	3.3	3
Long-term investments		3.98	4.51	1.77	1.2
Other non-current assets		0.86	0.82	0.79	0.68
Total assets		106	106	91	95.1	64.5	69
Accounts payable		29.9	27.3	27	30.6	19.7	22.8
Accrued liabilities		0.5	0.56	0.76	0.2	0.2	0.21
Short-term debt		0.76			0.28
Total current liabilities		64.9	74.4	66.5	74.4	34.4	27.9
Long-term debt		1.89
Lease liabilities		15.1	9.2	7.77	6.4
Total liabilities		81.9	83.6	74.3	80.8	34.8	28.3
Total debt		1.89
Paid-in capital		66.5	66.5	84	86.4	93.1	104
Retained earnings		-44.9	-48.1	-69.3	-73.5	-63.3	-64.6
Other comprehensive income		2.82	4.35	1.74	1.01	-0.2	1.31
Shareholders' equity		25.7	24.1	18	15.6	29.6
Minority interests		-1.34	-1.35	-1.35	-1.35
Total equity	18.8	24.4	22.7	16.7	14.3	29.6	40.8
Total liabilities and equity		106	106	91	95.1	64.5	69
Shares outstanding		0	0.02	0.01	1.74	0.04	0.89

Cash flow statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-6.46	-8.38	-3.2	-21.1	-4.23	10.2	-1.25
Depreciation and amortization	2.08	1.75	1.26	0.72	0.79	1.14	0.36
Stock-based compensation	0.03	3.94		10.4
Deferred income tax						-0.03	-0.08
Change in receivables	-1.57	-3.31	-2.66	-2.53	-1.8	10	-3.46
Change in inventory	0.98	-3.62	1.52	-0.52	-1.7	0.41	1.95
Cash from operations	-6.91	-0.06	-5.39	-3.28	-3.16	1.25	-1.39
Capital expenditures	-0.66	-0.13	-0.09	-0.12	-0.33	-0.16	-0
Acquisitions						4.83
Cash from investing	-4.84	-2	-0.31	-0.32	-2.04	-18.1	-0
Stock issued				7.33	2.59	7.63	10.9
Cash from financing	19	3.08	4.84	2.37	8	1.51	-0.03
Exchange rate effect	-1.03	2.67	1.52	-2.54	-1.51	1.05	0.8
Net change in cash	6.24	3.69	0.67	-3.77	1.3	-14.3	-0.63
Free cash flow	-7.56	-0.19	-5.48	-3.4	-3.49	1.09	-1.39
Interest paid	0.11	0.46	0.26	0.06	0.01	0.01	0.07
Income taxes paid	0.02	0.04	0	0.06	0.15	0.14	0.06

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $0.83 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	3.6%	Gross profit / revenue.
Operating margin	-1.4%	Operating income / revenue.
EBITDA margin	-1.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-1.0%	Pre-tax income / revenue.
Net margin	-0.9%	Net income / revenue.
FCF margin	-1.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-1.1%	Cash from operations / revenue.
Return on assets (ROA)	-1.9%	Net income / average total assets.
Capex / revenue	0.0%	Capital expenditures / revenue.
D&A / revenue	0.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-0.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	23.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	9.7%	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	-30.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-1,574.0%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-112.3%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-106.2%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-211.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-227.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	7.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-8.8%	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	-8.3%	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	96.6%	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	177.6%	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	129.8%	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	2.31x	Current assets / current liabilities.
Quick ratio	1.81x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.64x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	40.9%	Total liabilities / total assets.
Interest coverage	-27.8x	Operating income / interest expense.
Working capital	$36.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	6.5%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.98x	Revenue / average total assets.
Fixed asset turnover	18,038x	Revenue / average property, plant and equipment.
Inventory turnover	14.1x	Cost of revenue / average inventory.
Days inventory	26 days	365 x average inventory / cost of revenue.
Receivables turnover	4.39x	Revenue / average receivables.
Days sales outstanding	83 days	365 x average receivables / revenue.
Days payables	61 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	48 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$17.21	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	-$17.21	Net income per basic share, as reported (split-adjusted).
Revenue per share	$1,819.00	Revenue / diluted weighted shares.
FCF per share	-$19.19	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$19.18	Cash from operations / diluted weighted shares.
Cash per share	$20.18	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.0M	Share price x shares outstanding.
Enterprise value	-$14.9M	Market cap + total debt - cash - short-term investments.
P/S	0.02x	Market cap / revenue.
FCF yield	-46.3%	Free cash flow / market cap.
Earnings yield	-41.5%	Net income / market cap (the inverse of P/E).

What was Ridgetech Inc.'s revenue in fiscal 2026?

Ridgetech Inc. reported revenue of $132.2M for fiscal 2026, 10.2% higher than the year before.

Was Ridgetech Inc. profitable in fiscal 2026?

No. It reported a net loss of $1.3M.

How much free cash flow did Ridgetech Inc. generate in fiscal 2026?

Cash from operations of $1.4M minus capital expenditures of $449.0 left free cash flow of -$1.4M.

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.

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