Yueda Digital Holding financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Yueda Digital Holding 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	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	16.6	24.3	24.8	26.2	23.5	9.19	2.77	0.93	0.39	28.2
Cost of revenue	49	59	32.6	33.6	19.6	12.7	3.11	1.38	0.31	28.9
Gross profit	-32.5	-35.2	-8.08	-7.57	3.85	-3.58	-0.44	-0.53	0.04	-0.72
Research and development		0.69	1.11	1.16	0.72	0.37	0.04	0.53	1.76	44.3
Selling and marketing	12.1	12.7	7.49	4.45	2.53	1.98	1.41	0.56
General and administrative	44.4	62.8	31.5	20.2	9.81	7.87	5.48	2.73	6.56
Operating expenses	57.3	144	40.7	25.8	13.1	10.2	6.93	0.53	1.76	44.3
Operating income	-89.8	-179	-48.8	-33.4	-9.22	-13.8	-7.37	-0.53	-1.76	-45.1
Other non-operating income	5.05	0.26	-44.5	0.16	5.43	-5.29	1.4	0.01	-0.57	-33.9
Pre-tax income	-84.8	-179	-93.3	-33.2	-3.79	-19.1	-5.97	-0.52	-2.33	-78.9
Income tax	4.48	0.63	0.15	0.69	-10.2	0.28	0.02	0
Income from continuing operations	-65.6	-156					-5.98	-0.52	-2.33	-78.9
Net income to minority interests	-23.6	-22.7	-3.32	-2.43	-1.08	-0.45	1.02	0.38	0	0
Net income	-65.6	-156	-90.1	-31.5	7.53	-17.3	-13.3	-0.57	-13.7	-28.1
EBITDA	-77.4	-167	-47.2	-32.4	-7.88	-9.84	-4.53	0.43	-1.73	-35.9
EPS, basic	-2,009.00	-4,830.00	-2,782.00	-965.96	231.83	-383.15	-165.87	-8.73	-121.89	-19.26
EPS, diluted	-2,009.00	-4,830.00	-2,782.00	-965.96	231.83	-383.15	-165.87	-8.73	-121.89	-19.26
Shares, basic (weighted)	0.03	0.03	0.03	0.03	0.03	0.05	0.08	0.07	0.11	1.46
Shares, diluted (weighted)	0.03	0.03	0.03	0.03	0.03	0.05	0.08	0.07	0.11	1.46

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	118	15.4	15.5	0.96	0.28	1.3	2.5	0.15	0	1
Receivables	9.78	11	7.94	8.42	10.4	2.26	1.42	0.02
Other current assets	68.9	59.8	41.1	28.8	32.6	31.5	60.4	25	4.11	1.13
Total current assets	205	98.6	66.4	38.9	58.6	36.6	69.8	29.9	26	211
Property, plant and equipment	61	15.4	13.5	13.4	12.9	19.3	10.9	10.2	24.3	90.9
Lease right-of-use assets			0	1.52	0.68	0.02	0.02	0
Intangible assets	1.68	0	0
Long-term investments	83.9	102	46.3	43	42.5	39.6	34.1	32
Other non-current assets	6.77	2.21	0
Total assets	381	225	130	97.7	115	96	115	72.2	60.2	312
Accounts payable	40.4	48.5	39.1	35.5	22.2	18.4	15.8	11.6	11.4	0.33
Accrued liabilities	2.85	2.25	1.72	1.44	1.91	1.83	1.74	1.55	0.03
Deferred revenue	1.76	0	2	2.81	2.59	3.43	7.75	7.29	7.27
Short-term debt		0	6.11	0.14	5.67	15.2	12.8	0
Total current liabilities	90.2	75.8	113	114	114	105	102	84.4	78.6	0.33
Long-term debt		0	2.76	2.59	2.61	0
Lease liabilities			0	0.54	0	0.01	0.01	0
Other non-current liabilities	0.84	0.4	0				0	8.84
Total liabilities	115	101	115	117	116	105	102	93.3	82.2	0.33
Total debt		0	2.76	2.59	2.61	0
Paid-in capital	287	287	285	285	289	299	333	299	312	652
Retained earnings	-15.8	-172	-262	-294	-286	-305	-318	-319	-332	-361
Treasury stock	-2.35	-2.35	-2.35	-2.35	-2.35	-1.15	-1.15	-1.15	-1.52	-1.52
Other comprehensive income	-0.29	35.5	31.3	31.7	31.3	31.7	32	32.9	33.4
Shareholders' equity	269	148	51.4	20.5	31.6	24.5	45.8	11.8	10.9	312
Minority interests	-2.14	-24	-37	-39.4	-33	-33.4	-32.4	-32.9	-32.9
Total equity	267	124	14.4	-19	-1.36	-8.93	13.4	-21.1	-22	312
Total liabilities and equity	381	225	130	97.7	115	96	115	72.2	60.2	312
Shares outstanding	0.03	0.03	0.03	0.03	1.54	0.05	0.09	4.47	0.14

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-89.2	-179	-93.4	-33.9	6.45	-17.8	-12.3	-0.19	-13.6	-28.1
Depreciation and amortization	12.5	11.5	1.56	1.02	1.33	3.95	2.84	0.96	0.03	9.2
Stock-based compensation	0.77	0.34	0.05	0.16	0.19	0.19	0.06	0.01	0.52	0.93
Deferred income tax	4.43	0	0	0	0	0	0
Change in receivables	-3.25	-1.87	1.36	-0.61	-1.72	7.88	0.74	1.34	0.02
Change in payables	6.73	4.49	7.75	1.87	1.08	-3.85	-2.59	-4.17	-0.16
Cash from operations	-104	-58.6	-19.8	-14.9	-5.56	-4.98	0.61	-1.82	22.7	7.05
Capital expenditures	-21.6	-7.17	-3.62	-2.81	-2.81	0	0	0	-24.3
Cash from investing	131	-47.2	20.1	4.44	4.44	0	0	0	-29.2	-1.5
Debt issued	0	0	2.87	0	0	0	2.45	0
Debt repaid	0	0	0	-0.15	-0.15	-2.61	0	0
Stock issued	1.33	0	0						5.7	29.1
Dividends paid	0	0
Cash from financing	11.1	0.87	-1.7	-4.32	19.2	-9.43	1.21	-1.22	6.16	29.1
Exchange rate effect	-7.52	5.79	-1.56	0.22	0.69	0.37	-0.7	0.51	0.29	-33.8
Net change in cash	30.6	-99.1	-2.93	-14.6	14.7	-14	1.13	-2.53	-0.06	0.89
Free cash flow	-125	-65.7	-23.4	-17.7	-8.36	-4.98	0.61	-1.82	-1.56
Interest paid	0	0	2.44	0.51	0.33	0.78	0.84	0
Income taxes paid	27.7	1.6	1.67	0.19	0.02	0.07	0.01	0

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.89 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	-2.5%	Gross profit / revenue.
Operating margin	-160.1%	Operating income / revenue.
EBITDA margin	-127.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-280.4%	Pre-tax income / revenue.
Net margin	-99.7%	Net income / revenue.
Operating cash flow margin	25.1%	Cash from operations / revenue.
Return on equity (ROE)	-17.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-15.1%	Net income / average total assets.
Return on invested capital (ROIC)	-22.1%	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%.
R&D / revenue	157.5%	Research and development expense / revenue.
Stock-based pay / revenue	3.3%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	32.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7,193.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	116.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2,035.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-69.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	125.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	2,752.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	89.5%	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	58.0%	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	418.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	39.4%	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	22.1%	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	1,200.0%	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	162.6%	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	114.0%	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	639x	Current assets / current liabilities.
Quick ratio	3.02x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.02x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	0.1%	Total liabilities / total assets.
Working capital	$211.1M	Current assets - current liabilities.
Tangible book value	$311.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.15x	Revenue / average total assets.
Fixed asset turnover	0.49x	Revenue / average property, plant and equipment.
Days payables	74 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$19.26	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	-$19.26	Net income per basic share, as reported (split-adjusted).
Revenue per share	$19.33	Revenue / diluted weighted shares.
Operating cash flow per share	$4.84	Cash from operations / diluted weighted shares.
Book value per share	$213.95	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$213.95	Tangible book value / shares outstanding.
Cash per share	$0.69	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$4.9M	Share price x shares outstanding.
Enterprise value	$3.9M	Market cap + total debt - cash - short-term investments.
P/S	0.17x	Market cap / revenue.
P/B	0.02x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.02x	Market cap / tangible book value, when positive.
P/OCF	0.70x	Market cap / cash from operations, when positive.
EV/Sales	0.14x	Enterprise value / revenue.
Earnings yield	-571.4%	Net income / market cap (the inverse of P/E).

What was Yueda Digital Holding's revenue in fiscal 2025?

Yueda Digital Holding reported revenue of $28.2M for fiscal 2025, 7,193% higher than the year before.

Was Yueda Digital Holding profitable in fiscal 2025?

No. It reported a net loss of $28.1M.

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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