Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Origin Agritech 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
FY2016
FY2017
FY2018
FY2019
FY2020
FY2020
FY2022
FY2023
FY2024
FY2025
Revenue
50.2
0
1.88
13.4
7.71
7.16
7.41
13
16.2
12.8
Cost of revenue
38.8
0
1.02
15.3
7.2
5.18
5.13
10.6
13.9
11.9
Gross profit
11.4
0
0.86
-1.86
0.52
1.98
2.28
2.4
2.29
0.9
Research and development
6.59
5.83
3.94
1.93
0.6
0.31
1.05
1.04
1.45
1.84
Selling and marketing
5.7
0
0.06
0.59
0.71
0.86
1.03
1.16
0.9
0.98
General and administrative
9.31
5.26
4.67
3.96
8.53
11.3
2.02
1.98
5.13
5.65
Operating expenses
20.6
10.3
6.02
Operating income
-9.18
Interest expense
2.13
1.36
3.31
0.68
0.85
1.32
1.16
Interest income
0.02
0.22
0
0
Other non-operating income
-0.98
2.3
2.22
9.71
8.14
0.32
Pre-tax income
-11.3
-11.5
-22.2
-9.46
-15
-19.6
0.33
8.75
2.67
-8.2
Income tax
0.22
0
0
0.06
0.03
-0
0.02
0.01
-0.04
Net income to minority interests
-1.69
-4.61
0.13
-0.51
-2.58
-5.48
1.21
1.02
-0.29
-0.65
Net income
-9.82
-11.4
-22.3
-9.02
-12.5
-14.1
-0.88
7.71
2.96
-7.51
EBITDA
-4.51
EPS, basic
-0.43
-0.49
-7.29
-2.16
-2.49
-2.51
-0.15
1.18
0.46
-1.00
EPS, diluted
-0.43
-0.49
-7.29
-2.16
-2.49
-2.51
-0.15
1.17
0.46
-1.00
Shares, basic (weighted)
2.76
2.81
3.06
4.18
5.03
5.62
5.77
6.55
6.46
7.49
Shares, diluted (weighted)
2.76
2.81
3.06
4.18
5.03
5.62
5.77
6.56
6.47
7.49
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2020
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
8.21
0.47
0.29
0.45
3.3
2.37
2.49
3.3
1.2
2.23
Receivables
0.07
0
0.21
0.46
0.04
0.09
0.12
0.58
0.49
Inventory
55.1
0.18
11.9
4.03
1.99
0.64
0.3
1.82
1.84
2.03
Other current assets
0.71
0.2
0.03
0.22
0.05
0.52
1.83
1.7
0.11
0.1
Total current assets
71.6
13.4
31.2
9.78
9.46
8.96
11.5
19.7
14.2
9.3
Property, plant and equipment
47
21.8
25.1
21.1
17
7.51
6.53
2.94
4.04
4.06
Lease right-of-use assets
0.33
0.29
0.22
0.11
0.05
0.52
Goodwill
1.79
Intangible assets
4.6
2.09
2.41
1.83
1.44
0.29
0.25
0.45
0.46
Long-term investments
2.8
2.82
2.38
2.31
1.52
0.71
0.24
9.28
Other non-current assets
0.36
0.63
0.18
0.34
0.02
0.01
0
0.68
0
Total assets
132
48.8
62.5
36.9
37.4
18.4
19.1
33.2
18.8
14.2
Accounts payable
0.66
0.22
1.16
1.38
1.41
1.41
1.43
0.69
1.21
1.7
Deferred revenue
1.05
11.2
6.59
Short-term debt
4.05
5.35
11.4
11.1
21.2
19.4
0.71
1.12
Total current liabilities
92
20.2
62.8
35
26
44.2
41.3
43.7
26.3
21
Long-term debt
3
8.55
0
20.2
2
0.86
0.83
1.48
Lease liabilities
0.39
0.39
0.21
0.02
0.01
0.33
Other non-current liabilities
4.07
3.39
2.42
Total liabilities
99.1
31.8
65.9
39.1
50
47
43.5
44.5
27.1
22.8
Total debt
7.05
13.9
11.4
11.1
20.2
21.2
21.4
0.86
1.54
1.48
Paid-in capital
61.6
62.1
62.3
69.9
75.6
83.2
77.7
79.8
82.6
89.8
Retained earnings
-27.3
-38.9
-59.9
-67
-82.1
-100
-92.5
-83.8
-82.9
-89.3
Treasury stock
-5.61
-3.43
-2.79
-2.71
-1.52
-0.95
-0.86
-0.85
-0.88
-0.63
Other comprehensive income
-1.67
-2.84
-3.22
-3.36
-3.29
-3.58
-3.21
-3.2
-3.26
-3.24
Shareholders' equity
27
16.9
-3.59
-3.21
-11.3
-21.7
-18.9
-8
-4.47
-3.29
Minority interests
5.74
0.07
0.2
1.02
-1.22
-6.93
-5.46
-3.32
-3.9
-5.37
Total equity
32.7
17
-3.4
-2.19
-12.6
-28.6
-24.3
-11.3
-8.36
-8.66
Total liabilities and equity
132
48.8
62.5
36.9
37.4
18.4
19.1
33.2
18.8
14.2
Shares outstanding
22.9
2.86
3.2
4.8
4.8
6.32
6.56
6.56
11.9
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2020
FY2022
FY2023
FY2024
FY2025
Net income
-11.5
-16
-22.2
-9.02
-15.1
-19.6
0.33
8.73
2.67
-8.16
Depreciation and amortization
4.68
4.17
2.39
1.76
1.56
1.28
0.55
0.56
0.4
0.45
Stock-based compensation
1.32
0.81
0.63
1.74
1.93
1.69
0.15
0.16
0.75
3.25
Deferred income tax
0
0
0
Change in receivables
0.2
0.01
0
-0.21
-0.27
0.47
-0.05
0.23
-0.52
-0.02
Change in inventory
7.63
-3.24
1.9
6.71
1.01
0.22
0.29
-1.52
-0.02
-0.93
Cash from operations
7.17
-18.1
-1.46
-8.76
-0.82
-3.87
0.47
-0.76
-2.14
-3.22
Capital expenditures
-2.35
-0.4
-0.43
0
0
-0.11
-0.09
-1.24
-0.71
-1.58
Cash from investing
-0.97
4.45
6.92
1.33
-6.2
-0.19
-0.16
-1.56
-0.71
-1.93
Debt issued
0.91
18.1
0
20.2
0
Debt repaid
-3.59
-5.19
-2.96
0
-11.5
0
Stock issued
0.08
0
7.58
2.38
2.65
1.55
2.73
0.09
5.38
Dividends paid
-0.34
-0.03
-0.07
-0.15
Cash from financing
-7.31
7.08
-5.14
7.58
9.68
3.06
-0.05
3.19
0.64
6.24
Exchange rate effect
-0.62
-1.15
-0.5
Net change in cash
-1.11
-6.57
0.32
0.15
2.65
-1
0.26
0.87
-2.21
1.09
Free cash flow
4.82
-18.5
-1.89
-8.76
-0.82
-3.98
0.38
-2
-2.85
-4.79
Interest paid
2.13
2.18
0.71
0.68
0.05
0
0
0
0.15
0.37
Income taxes paid
0.22
0.19
0
0
0
0
0
0
0.01
0.01
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.91 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
7.0%
Gross profit / revenue.
Pre-tax margin
-63.8%
Pre-tax income / revenue.
Net margin
-58.4%
Net income / revenue.
FCF margin
-37.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-25.0%
Cash from operations / revenue.
Return on assets (ROA)
-45.6%
Net income / average total assets.
R&D / revenue
14.3%
Research and development expense / revenue.
Stock-based pay / revenue
25.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
12.3%
Capital expenditures / revenue.
D&A / revenue
3.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-20.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
20.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
10.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-60.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-26.7%
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
11.8%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
-354.0%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-317.4%
EPS vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-24.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-9.6%
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
-17.7%
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
15.9%
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
9.1%
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
8.3%
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
0.44x
Current assets / current liabilities.
Quick ratio
0.13x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.11x
(Cash + short-term investments) / current liabilities.
Debt / assets
10.4%
Total debt / total assets.
Liabilities / assets
161.1%
Total liabilities / total assets.
Net debt
-$758.0K
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.00
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
-$1.00
Net income per basic share, as reported (split-adjusted).
Revenue per share
$1.72
Revenue / diluted weighted shares.
FCF per share
-$0.64
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.43
Cash from operations / diluted weighted shares.
Book value per share
-$0.28
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.86x
Market cap / revenue.
EV/Sales
0.80x
Enterprise value / revenue.
FCF yield
-43.4%
Free cash flow / market cap.
Earnings yield
-67.9%
Net income / market cap (the inverse of P/E).
Dividend yield
1.4%
Dividends paid over the period / market cap.
Shareholder yield
1.4%
(Dividends paid + share buybacks) / market cap.
What was Origin Agritech LTD's revenue in fiscal 2025?
Origin Agritech LTD reported revenue of $12.8M for fiscal 2025, 20.6% lower than the year before.
Was Origin Agritech LTD profitable in fiscal 2025?
No. It reported a net loss of $7.5M.
How much free cash flow did Origin Agritech LTD generate in fiscal 2025?
Cash from operations of $3.2M minus capital expenditures of $1.6M left free cash flow of -$4.8M.
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.