Jin Medical International Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Jin Medical International 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

	FY2021	FY2023	FY2023	FY2024	FY2025
Revenue	20.8	19.2	19.8	23.5	20.7
Cost of revenue	14.4	13	13	14	14.6
Gross profit	6.36	6.2	6.78	9.5	6.04
Research and development	1.57	1.89	1.54	1.5	1.56
General and administrative	1.67	1.77	1.92	3.26	2.53
Operating expenses	3.73	4.07	3.92	5.86	5.44
Operating income	2.63	2.13	2.87	3.64	0.61
Interest income	0.06	0.18	0.18	0.47	0.79
Other non-operating income		0.61	0.35	0.54	0.99
Pre-tax income	2.88	2.74	3.22	4.18	1.6
Income tax	0.25	0.04	0.34	0.76	0.21
Net income to minority interests				-0.26	0.19
Net income	2.63	2.71	2.88	3.68	1.19
EBITDA	2.98	2.49	3.09	3.88	0.85
EPS, basic	0.02	0.02	0.02	0.02	0.01
EPS, diluted	0.02	0.02	0.02	0.02	0.01
Shares, basic (weighted)	135	135	145	156	157
Shares, diluted (weighted)	135	135	145	156	157

Balance sheet

	FY2021	FY2023	FY2023	FY2024	FY2025
Cash and equivalents	3.67	4.79	6.93	8.14	7.46
Short-term investments		2.28	9.77	18.6	22.2
Receivables		3.83	3.28	5.91	5.81
Inventory		6.72	5.05	5.17	4.92
Other current assets		0.99	0.89	2.33	3.68
Total current assets		18.9	31.1	42.8	44.1
Property, plant and equipment		1.63	1.48	1.46	7.9
Lease right-of-use assets		0.16	0.15	0.26	0.09
Intangible assets			0.15	1.15	1.1
Total assets		20.9	32.9	45.8	53.4
Accounts payable		4.11	3.39	3.01	3.26
Deferred revenue				0.67	0.5
Short-term debt			4.11	11.3	18.8
Total current liabilities		5.7	8.92	17.2	23.8
Lease liabilities				0.1
Total liabilities		5.7	8.92	17.2	23.8
Paid-in capital		0.08	6.44	6.75	6.75
Retained earnings		14.4	16.9	20	20.9
Other comprehensive income		-0.91	-1.4	-0.56	-0.92
Shareholders' equity		15.2	24	28.8	29.6
Minority interests				-0.26	-0.07
Total equity	14	15.2	24	28.6	29.6
Total liabilities and equity		20.9	32.9	45.8	53.4
Shares outstanding		135	156	156	157

Cash flow statement

	FY2021	FY2023	FY2023	FY2024	FY2025
Net income	2.63	2.71	2.88	3.42	1.38
Depreciation and amortization	0.35	0.36	0.23	0.24	0.24
Deferred income tax	-0	-0.09	0.09	0.04	-0.02
Change in receivables	0.16	0.24	0.35	-2.39	1.28
Change in inventory	0.46	-0.5	1.56	0.08	0.17
Change in payables	-0.37	-0.81	-0.65	-0.5	0.29
Cash from operations	5.84	1.58	3.11	-1.21	2.9
Capital expenditures	-0.04	-0.04	-0.11	-0.14	-6.63
Acquisitions					-0.5
Purchases of investments	-4.96	-5.65	-12.1	-21.1	-9.7
Cash from investing	-1.07	-0.12	-7.73	-9.51	-10.8
Stock issued			0.34	0.31
Cash from financing	-2.87	0.12	6.91	11.7	7.35
Exchange rate effect		-0.46	-0.15	0.27	-0.14
Net change in cash	2.01	1.12	2.14	1.21	-0.67
Free cash flow	5.8	1.54	2.99	-1.35	-3.73
Interest paid	0.3	0.05	0.01	0.24	0.41
Income taxes paid		0.05	0.14	0.21	0.56

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.91 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	29.2%	Gross profit / revenue.
Operating margin	2.9%	Operating income / revenue.
EBITDA margin	4.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.7%	Pre-tax income / revenue.
Net margin	5.8%	Net income / revenue.
FCF margin	-18.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	14.0%	Cash from operations / revenue.
Effective tax rate	13.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.4%	Net income / average total assets.
Return on invested capital (ROIC)	2.5%	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	7.5%	Research and development expense / revenue.
Capex / revenue	32.0%	Capital expenditures / revenue.
D&A / revenue	1.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-12.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	-36.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-0.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	-83.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-34.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-78.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-30.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-67.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-23.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-50.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-20.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	22.5%	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	2.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	24.8%	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	16.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	36.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	0.0%	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	5.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.86x	Current assets / current liabilities.
Quick ratio	1.49x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.25x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	44.6%	Total liabilities / total assets.
Working capital	$20.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$28.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.42x	Revenue / average total assets.
Fixed asset turnover	4.42x	Revenue / average property, plant and equipment.
Inventory turnover	2.90x	Cost of revenue / average inventory.
Days inventory	126 days	365 x average inventory / cost of revenue.
Receivables turnover	3.53x	Revenue / average receivables.
Days sales outstanding	103 days	365 x average receivables / revenue.
Days payables	78 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	151 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-312.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	228.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.01	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	$0.01	Net income per basic share, as reported (split-adjusted).
Revenue per share	$0.13	Revenue / diluted weighted shares.
FCF per share	-$0.02	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.02	Cash from operations / diluted weighted shares.
Book value per share	$0.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.18	Tangible book value / shares outstanding.
Cash per share	$0.19	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$149.8M	Share price x shares outstanding.
Enterprise value	$120.2M	Market cap + total debt - cash - short-term investments.
P/E	126x	Market cap / net income. Only when net income is positive.
P/S	7.24x	Market cap / revenue.
P/B	5.05x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.25x	Market cap / tangible book value, when positive.
P/OCF	51.6x	Market cap / cash from operations, when positive.
EV/Sales	5.81x	Enterprise value / revenue.
EV/EBIT	198x	Enterprise value / operating income, when both are positive.
EV/EBITDA	141x	Enterprise value / EBITDA, when both are positive.
FCF yield	-2.5%	Free cash flow / market cap.
Earnings yield	0.8%	Net income / market cap (the inverse of P/E).

What was Jin Medical International Ltd.'s revenue in fiscal 2025?

Jin Medical International Ltd. reported revenue of $20.7M for fiscal 2025, 12% lower than the year before.

Was Jin Medical International Ltd. profitable in fiscal 2025?

Yes. Net income was $1.2M, a net margin of 5.8%.

How much free cash flow did Jin Medical International Ltd. generate in fiscal 2025?

Cash from operations of $2.9M minus capital expenditures of $6.6M left free cash flow of -$3.7M.

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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