Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Tungray Technologies 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
FY2021
FY2023
FY2023
FY2024
FY2025
Revenue
17.5
16.3
14.4
12.8
15.6
Cost of revenue
8.21
7.07
7.65
7.21
8.45
Gross profit
9.26
9.27
6.71
5.6
7.17
Research and development
0.67
0.83
0.79
1.06
0.98
General and administrative
3.32
4.54
4.4
4.59
5.48
Operating expenses
4.38
5.98
5.61
6.25
7.41
Operating income
4.88
3.28
1.1
-0.66
-0.24
Interest expense
0.14
0.21
0.07
0.11
0.07
Other non-operating income
0.13
0.19
0.19
0.36
0.2
Pre-tax income
5.01
3.47
1.29
-0.29
-0.04
Income tax
0.71
-0.63
0.54
0.28
0.13
Net income to minority interests
-0
-0.01
-0.1
-0.09
-0.16
Net income
4.3
2.85
0.76
-0.57
-0.17
EBITDA
5.09
3.46
1.35
-0.29
0.15
EPS, basic
0.29
0.19
0.06
EPS, diluted
0.29
0.19
0.06
Shares, basic (weighted)
15
15
15
Shares, diluted (weighted)
15
15
15
Balance sheet
FY2021
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
11.3
13.1
10.8
8.97
6.62
Receivables
0.1
0.32
2.39
3.48
Inventory
1.4
2.28
2.21
3.35
Other current assets
0.03
0
3.82
3
Total current assets
17.9
18.5
19.8
18.7
Property, plant and equipment
6.45
6.33
6.17
7.13
Lease right-of-use assets
0.67
0.71
1.41
1.13
Intangible assets
0.03
0
0.06
0.24
Long-term investments
0.22
0.21
0.21
2.27
Total assets
26
27.1
29.9
29.5
Accounts payable
1.1
1.05
1.36
1.86
Accrued liabilities
0.99
1.29
1.45
1.91
Deferred revenue
1.85
4.01
6.12
3.15
Total current liabilities
8.33
9.03
10.6
9.65
Lease liabilities
0.01
0.69
0.55
Other non-current liabilities
2.86
2.3
Total liabilities
11.2
11.3
12.6
11.5
Paid-in capital
0.33
0.33
3.14
3.1
Retained earnings
14.7
15.5
15.1
15
Other comprehensive income
-0.4
-0.28
-1.01
-0.02
Shareholders' equity
14.8
15.7
17.3
18
Minority interests
-0.01
-0.11
-0.16
-0.33
Total equity
12.2
14.8
15.7
17.4
18.4
Total liabilities and equity
26
27.1
29.9
29.5
Cash flow statement
FY2021
FY2023
FY2023
FY2024
FY2025
Net income
4.3
2.84
0.76
-0.57
-0.17
Depreciation and amortization
0.21
0.17
0.25
0.37
0.39
Deferred income tax
-0.03
-0.01
0.07
0
0
Change in receivables
-0.87
-0.65
-1.37
1.02
-0.98
Change in inventory
-0.51
0.3
-0.91
-0.12
-1.04
Change in payables
0.55
-0.39
-0.03
0.35
0.44
Cash from operations
5.99
3.64
0.45
-0.81
-3.05
Capital expenditures
-0.21
-0.15
-0.04
-0.45
-0.8
Cash from investing
-1.01
-0.1
-0.08
-2.78
-1.64
Dividends paid
-1.65
-1.28
-0.52
Cash from financing
-0.01
-1.4
-2.81
2.79
1.31
Net change in cash
5.24
1.79
-2.33
-1.33
-2.83
Free cash flow
5.78
3.49
0.41
-1.26
-3.85
Interest paid
0.19
0.16
0.09
0.07
0.07
Income taxes paid
0.27
0.39
0.66
0.75
0.18
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.38 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
45.9%
Gross profit / revenue.
Operating margin
-1.5%
Operating income / revenue.
EBITDA margin
0.9%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-0.3%
Pre-tax income / revenue.
Net margin
-1.1%
Net income / revenue.
FCF margin
-24.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-19.5%
Cash from operations / revenue.
Return on equity (ROE)
-1.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-0.6%
Net income / average total assets.
Return on invested capital (ROIC)
-1.9%
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
6.2%
Research and development expense / revenue.
Capex / revenue
5.1%
Capital expenditures / revenue.
D&A / revenue
2.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
22.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-1.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
28.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-8.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 3y
-65.2%
Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 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
6.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-1.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
4.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.94x
Current assets / current liabilities.
Quick ratio
1.05x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.69x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Valuation
Metric
Value
How it is calculated
Market cap
$22.6M
Share price x shares outstanding.
Enterprise value
$16.0M
Market cap + total debt - cash - short-term investments.
P/S
1.45x
Market cap / revenue.
P/B
1.25x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.27x
Market cap / tangible book value, when positive.
EV/Sales
1.02x
Enterprise value / revenue.
EV/EBITDA
110x
Enterprise value / EBITDA, when both are positive.
FCF yield
-17.0%
Free cash flow / market cap.
Earnings yield
-0.8%
Net income / market cap (the inverse of P/E).
What was Tungray Technologies Inc's revenue in fiscal 2025?
Tungray Technologies Inc reported revenue of $15.6M for fiscal 2025, 22% higher than the year before.
Was Tungray Technologies Inc profitable in fiscal 2025?
No. It reported a net loss of $170.3K.
How much free cash flow did Tungray Technologies Inc generate in fiscal 2025?
Cash from operations of $3.0M minus capital expenditures of $799.3K left free cash flow of -$3.8M.
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.