TIAN RUIXIANG HOLDINGS LTD financial statements

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

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	3.09	2	3.25	2.79	1.35	1.24	3.22
Selling and marketing	1.03	0.8	1.56	2.52	1.76	2.44	3.37
Operating expenses	1.63	1.9	2.69	5.04	6.42	4.26	7.86
Operating income	1.46	0.1	0.56	-2.25	-5.07	-3.02	-4.65
Interest expense	0.02	0.02	0	0
Interest income	0.01	0.28	0.09	0.32	0.43	0.73	0.7
Other non-operating income	0.03	0.31	0.2	0.33	0.41	0.72	0.7
Pre-tax income	1.49	0.41	0.76	-1.92	-4.66	-2.29	-3.94
Income tax	0.37	0.24	0.13	0.02	0.02	0.16	0.04
Net income to minority interests	0	0	-0	-0	-0	-0	-0
Net income	1.12	0.18	0.63	-1.94	-4.68	-2.45	-3.99
EBITDA	1.49	0.14	0.59	-2.23	-5.05	-3.01	-4.52
EPS, basic	5.33	0.97	3.15	-5.65	-9.03	-3.87	-2.42
EPS, diluted	5.33	0.97	3.15	-5.65	-9.03	-3.87	-2.42
Shares, basic (weighted)	0.21	0.21	0.2	0.34	0.52	0.63	1.65
Shares, diluted (weighted)	0.21	0.21	0.2	0.34	0.52	0.63	1.65

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	6.71	6.24	6.14	30	0	0	0.3
Short-term investments				0	26.2	26.8	28.1
Receivables		0.17	1.25	0.32	0.05	0.02	1.41
Other current assets		0.06	0.04	0.47	0.17	0.11	0.09
Total current assets		8.09	9.56	31.6	34.9	27.6	39.9
Property, plant and equipment		0.02	0.02	0.01	0.01	0.01	0
Lease right-of-use assets		0.12	0.32	0.76	0.14	0.05	0.05
Intangible assets		0.17	0.16	0.15	0	0	0
Other non-current assets			0.01	0.19	0.02	0
Total assets		8.41	10.1	40.4	35	35.5	40
Accrued liabilities		0.07	0.13	0.1	0.42	0.73
Total current liabilities		0.79	1.29	1.12	1.49	3.06	5.92
Lease liabilities		0.04	0.12	0.24	0.05	0	0.03
Total liabilities		0.83	1.42	1.36	1.55	3.06	6.09
Paid-in capital		7.69	7.7	39.8	42.7	44.1	48.8
Retained earnings		0.3	0.88	-1.09	-5.8	-8.3	-12.3
Treasury stock				0	0	0
Shareholders' equity		7.58	8.64	39	33.5	32.4	33.9
Minority interests	0	0	0	0	0	0	0
Total equity	7.47	7.58	8.64	39	33.5	32.4	33.9
Total liabilities and equity		8.41	10.1	40.4	35	35.5	40
Shares outstanding		0.21	1

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	1.12	0.18	0.63	-1.94	-4.68	-2.45	-3.99
Depreciation and amortization	0.03	0.03	0.03	0.03	0.02	0	0.12
Change in receivables	-0.17	0.09	-1.02	0.97	0.25	0.03	-1.38
Cash from operations	1.37	0.23	-0.05	-1.36	-0.2	0.99	0.9
Capital expenditures	-0.01	-0.01	-0	-0	-0	0	0
Purchases of investments			0	0	-29	-27.8	-28.1
Cash from investing	-0.01	0.04	-0	-7.5	-28.9	-0.99	-1.82
Debt issued	0.71	0	0		0	0	1.12
Debt repaid	-0.32	-0.37	0	0
Cash from financing	6.49	-0.87	-0.48	32.6	0	-0	1.19
Net change in cash	7.38	-0.66	-0.04	23.9	-30.1	-0	0.3
Free cash flow	1.36	0.22	-0.05	-1.37	-0.2	0.99	0.9
Interest paid	0.01	0.03	0	0	0	0	0
Income taxes paid	0.17	0.28	0	0	0	0	0

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $0.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-144.3%	Operating income / revenue.
EBITDA margin	-140.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-122.5%	Pre-tax income / revenue.
Net margin	-123.8%	Net income / revenue.
FCF margin	27.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	27.9%	Cash from operations / revenue.
Return on equity (ROE)	-12.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-10.6%	Net income / average total assets.
Return on invested capital (ROIC)	-11.1%	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%.
Capex / revenue	0.0%	Capital expenditures / revenue.
D&A / revenue	3.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	158.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-9.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	31.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-9.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	32.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	4.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-4.6%	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	34.9%	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	12.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.3%	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	36.6%	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	160.0%	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	68.5%	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	51.5%	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	6.74x	Current assets / current liabilities.
Quick ratio	5.03x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	4.80x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	15.2%	Total liabilities / total assets.
Working capital	$34.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$33.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.09x	Revenue / average total assets.
Fixed asset turnover	573x	Revenue / average property, plant and equipment.
Receivables turnover	4.50x	Revenue / average receivables.
Days sales outstanding	81 days	365 x average receivables / revenue.
Capex / operating cash flow	0.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.42	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	-$2.42	Net income per basic share, as reported (split-adjusted).
Revenue per share	$1.96	Revenue / diluted weighted shares.
FCF per share	$0.55	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.55	Cash from operations / diluted weighted shares.
Book value per share	$20.58	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.58	Tangible book value / shares outstanding.
Cash per share	$17.24	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$500.0	Share price x shares outstanding.
Enterprise value	-$28.4M	Market cap + total debt - cash - short-term investments.
P/S	0.00x	Market cap / revenue.
P/B	0.00x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.00x	Market cap / tangible book value, when positive.
P/FCF	0.00x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	0.00x	Market cap / cash from operations, when positive.
FCF yield	179,579.0%	Free cash flow / market cap.
Earnings yield	-797,385.0%	Net income / market cap (the inverse of P/E).

What was TIAN RUIXIANG HOLDINGS LTD's revenue in fiscal 2024?

TIAN RUIXIANG HOLDINGS LTD reported revenue of $3.2M for fiscal 2024, 158.7% higher than the year before.

Was TIAN RUIXIANG HOLDINGS LTD profitable in fiscal 2024?

No. It reported a net loss of $4.0M.

How much free cash flow did TIAN RUIXIANG HOLDINGS LTD generate in fiscal 2024?

Cash from operations of $897.9K minus capital expenditures of $0.0 left free cash flow of $897.9K.

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.

Open interactive statements, quarterly figures and charts

Back to TIAN RUIXIANG HOLDINGS LTD