Viomi Technology Co., Ltd financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Viomi Technology Co., 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	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	373	668	893	832	469	351	290	347
Cost of revenue	268	512	727	644	362	271	215	259
Gross profit	104	155	166	188	107	80.2	75.2	87.9
Research and development	18.1	29.4	40.7	48.9	43.5	31.4	19.6	23.7
Selling and marketing	55.2	76	91.5	118	89.2	56.6	28.9	39.7
General and administrative	19.7	10.5	10.6	15.3	17.6	11.5	9.7	12.3
Operating expenses	93	116	143	182	150	99.5	58.2	75.7
Operating income							21.4	18.4
Other non-operating income								-0.07
Pre-tax income	13	48.7	33.4	14.8	-38.3	-12.3	22.1	22.1
Income tax	3.5	6.49	6.64	0.9	2.64	0.24	2.32	1.81
Income from continuing operations	11.7	44.7	28.2	10.1	-40.2	-16.8	19.8	20.3
Net income to minority interests	-0	0.24	0.17	0.05	-1.03	-0.66	-0.15	0.04
Net income	9.51	42	26.6	13.9	-39.9	-11.9	8.69	20.3
EBITDA							25.4	24.4
EPS, basic	0.10	0.20	0.13	0.07	-0.19	-0.06	0.04	0.10
EPS, diluted	0.09	0.19	0.12	0.06	-0.19	-0.06	0.04	0.10
Shares, basic (weighted)	71.8	208	209	210	208	206	205	204
Shares, diluted (weighted)	79.6	216	216	221	210	208	207	211

Balance sheet

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	137	140	77.3	92.1	107	69.3	141	115
Short-term investments	24.6	45.4	107	130	28.6	9.91	9.93	11.8
Receivables	16.2	45.4	65.5	47.4	35
Inventory	33.7	60	67.3	90.4	72.8	62.3	15.4	18.1
Other current assets	6.82	8.95	13.4	24.5	26.6	26.3	9.78	22.5
Total current assets	277	418	449	462	362	322	297	280
Property, plant and equipment	1.64	9.67	11.1	22.9	34.3	48.3	43.2	43.7
Lease right-of-use assets		2.84	3.15	2.89	2.12	0.7	0.46	0.24
Intangible assets	0.03	0.63	1.18	1.91	1.98	1.54	1.17	0.89
Long-term investments						3.36	1.04	1.85
Total assets	280	434	487	514	418	388	354	342
Accounts payable	79.8	150	153	168	122	93.9	106	74.1
Deferred revenue	12.6	14.8	17.3	15.6	17.2	18.5	1.58	1.45
Short-term debt		13.8			2.93	3.95	4.01	3.58
Total current liabilities	124	235	250	250	192	178	143	108
Long-term debt				2.53	16.6	18.1	10.4	7.39
Lease liabilities		1.92	1.79	1.19	0.99	0.38	0.24	0.06
Total liabilities	124	237	253	255	211	199	156	123
Total debt				2.53	19.5	22.1	14.4	11
Paid-in capital	174	171	196	210	197	191	188
Retained earnings	-13.9	28.1	55.6	70.6	25.3	12.6	21
Treasury stock			-8.37	-10.5	-10.8	-11.4	-11.7
Other comprehensive income	-4.33	-2.75	-9.1	-11.5	-3.53	-2.02	0.31
Shareholders' equity	155	197	234	259	208	190	198	218
Minority interests	0.44	0.81	0.5	0.55	-0.52	-0.6	0.73	0.8
Total equity	156	197	235	259	207	189	199	219
Total liabilities and equity	280	434	487	514	418	388	354	342

Cash flow statement

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	9.5	42.2	26.7	13.9	-41	-12.6	8.54	20.3
Depreciation and amortization	0.33	3.39	8.32	11.3	12.8	9.14	3.97	6.02
Stock-based compensation	17	6.2	11.1	7.44	2.84	0.01	2.25	2.01
Deferred income tax	-0.32	-1.01	-0.23	-3.31	3.28	0.24	-0.65	0.2
Change in receivables	-15.6
Change in inventory	-26.5	-29	-6.73	-22.8	5.98	4.08	7.54	-2.14
Cash from operations	32.3	35.3	28.4	48.5	-41.2	-14.5	98.1	22.1
Capital expenditures	-1.96	-8.06	-7.28	-15.6	-28.4	-15.5	-3.92	-5.89
Purchases of investments	-34.7	-117	-499	-282	-50.5	-15.6	-12	-30.8
Cash from investing	-22.1	-38.6	-66.4	-41.6	45.6	-28	-22.6	-33.3
Debt issued							8.02	5.88
Debt repaid							-8.22	-11.4
Stock issued		0.16	1.01	2.03	0.43	0	0.02	0.05
Share buybacks			-8.37	-1.89	-1.17	-0.91	-0.59	-2.53
Dividends paid		-6.69	0
Cash from financing	88	6.97	-22.4	2.69	16.5	16.3	-4.75	-15.1
Exchange rate effect	2.11	1.16	-5.22	-1.99
Net change in cash	100	4.76	-65.6	7.54	27.6	-24.9	72.8	-28.1
Free cash flow	30.4	27.2	21.1	32.9	-69.6	-30.1	94.2	16.2
Interest paid	0.11	0.14	0.01				0.79	0.85
Income taxes paid	4.02	4.01	4.2	5.41	3.31	0.03	0.31	2.95

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.35 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	25.3%	Gross profit / revenue.
Operating margin	5.3%	Operating income / revenue.
EBITDA margin	7.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.4%	Pre-tax income / revenue.
Net margin	5.8%	Net income / revenue.
FCF margin	4.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.4%	Cash from operations / revenue.
Effective tax rate	8.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.8%	Net income / average total assets.
Return on invested capital (ROIC)	18.2%	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	6.8%	Research and development expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.7%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	19.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-9.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-17.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	17.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.3%	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	-11.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-14.2%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-3.9%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	133.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	-5.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	150.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-3.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-77.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-4.9%	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	-82.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-5.1%	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	10.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.7%	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	-1.4%	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	-3.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-6.5%	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	-6.8%	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	2.0%	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	0.1%	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	-0.4%	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	2.60x	Current assets / current liabilities.
Quick ratio	1.18x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.18x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.05x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	3.2%	Total debt / total assets.
Liabilities / assets	35.9%	Total liabilities / total assets.
Net debt	-$116.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-4.76x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$172.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$217.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.00x	Revenue / average total assets.
Fixed asset turnover	7.99x	Revenue / average property, plant and equipment.
Inventory turnover	15.5x	Cost of revenue / average inventory.
Days inventory	24 days	365 x average inventory / cost of revenue.
Days payables	127 days	365 x average accounts payable / cost of revenue.
FCF conversion	80.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	26.6%	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	$1.65	Revenue / diluted weighted shares.
FCF per share	$0.08	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.10	Cash from operations / diluted weighted shares.
Book value per share	$1.04	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.03	Tangible book value / shares outstanding.
Cash per share	$0.60	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	15.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$84.3M	Share price x shares outstanding.
Enterprise value	-$31.9M	Market cap + total debt - cash - short-term investments.
P/E	4.16x	Market cap / net income. Only when net income is positive.
P/S	0.24x	Market cap / revenue.
P/B	0.39x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.39x	Market cap / tangible book value, when positive.
P/FCF	5.20x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.81x	Market cap / cash from operations, when positive.
FCF yield	19.2%	Free cash flow / market cap.
Earnings yield	24.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.0%	(Dividends paid + share buybacks) / market cap.

What was Viomi Technology Co., Ltd's revenue in fiscal 2025?

Viomi Technology Co., Ltd reported revenue of $347.2M for fiscal 2025, 19.6% higher than the year before.

Was Viomi Technology Co., Ltd profitable in fiscal 2025?

Yes. Net income was $20.3M, a net margin of 5.8%.

How much free cash flow did Viomi Technology Co., Ltd generate in fiscal 2025?

Cash from operations of $22.1M minus capital expenditures of $5.9M left free cash flow of $16.2M.

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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