Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data Zhengye Biotechnology Holding 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
FY2024
FY2025
Revenue
25.5
16.6
Cost of revenue
13
13.2
Gross profit
12.5
3.41
Research and development
1.75
2.58
Selling and marketing
5.65
6.28
General and administrative
3.09
4.43
Operating expenses
10.3
13.5
Operating income
2.25
-10.1
Interest expense
0.55
0.49
Interest income
0.03
0.01
Other non-operating income
-0.28
-0.2
Pre-tax income
1.97
-10.3
Income tax
0.13
1.59
Net income to minority interests
0.3
-1.89
Net income
1.55
-9.98
EBITDA
5.56
-6.38
EPS, basic
0.03
EPS, diluted
0.03
Shares, basic (weighted)
45.7
47.3
Shares, diluted (weighted)
45.7
47.3
Balance sheet
FY2024
FY2025
Cash and equivalents
2.55
7.2
Short-term investments
0.2
0.22
Receivables
8.16
2.64
Inventory
7.98
5.6
Other current assets
3.67
Total current assets
24.3
19.7
Property, plant and equipment
35
33.9
Lease right-of-use assets
0.07
Intangible assets
2.03
6.73
Total assets
67.6
62.4
Accounts payable
5.89
6.3
Deferred revenue
0.48
0.68
Short-term debt
0.99
0.1
Total current liabilities
18.6
17.2
Long-term debt
0.66
Lease liabilities
0.05
Total liabilities
19.3
18.6
Total debt
1.64
1.37
Paid-in capital
27.8
34.4
Retained earnings
6.6
-3.1
Other comprehensive income
-0.28
Shareholders' equity
38.9
35.7
Minority interests
9.4
8.13
Total equity
48.3
43.9
Total liabilities and equity
67.6
62.4
Shares outstanding
45.7
Cash flow statement
FY2024
FY2025
Net income
1.85
-11.9
Depreciation and amortization
3.31
3.7
Deferred income tax
0.13
1.59
Change in receivables
2.24
5.68
Change in inventory
-0.81
0.89
Change in payables
-0.06
Cash from operations
5.62
1.91
Capital expenditures
-1.86
-0.14
Cash from investing
-3.79
-1.81
Debt issued
12.3
10.1
Debt repaid
-12.7
-11.8
Dividends paid
-2.2
Cash from financing
-3.03
4.62
Exchange rate effect
0.02
-0.19
Net change in cash
-1.2
4.54
Free cash flow
3.76
1.77
Interest paid
0.55
0.48
Income taxes paid
0.02
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.31 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
20.5%
Gross profit / revenue.
Operating margin
-60.6%
Operating income / revenue.
EBITDA margin
-38.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-61.8%
Pre-tax income / revenue.
Net margin
-60.0%
Net income / revenue.
FCF margin
10.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
11.5%
Cash from operations / revenue.
Return on equity (ROE)
-26.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-15.4%
Net income / average total assets.
Return on invested capital (ROIC)
-23.5%
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
15.5%
Research and development expense / revenue.
Capex / revenue
0.9%
Capital expenditures / revenue.
D&A / revenue
22.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-34.8%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-72.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-547.8%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-214.7%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-744.0%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-66.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-53.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-8.2%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-7.6%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
3.7%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.14x
Current assets / current liabilities.
Quick ratio
0.58x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.43x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.04x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
2.2%
Total debt / total assets.
Liabilities / assets
29.7%
Total liabilities / total assets.
Net debt
-$6.1M
Total debt - cash - short-term investments. Negative means more cash than debt.
Market cap + total debt - cash - short-term investments.
P/S
3.72x
Market cap / revenue.
P/B
1.73x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.13x
Market cap / tangible book value, when positive.
P/FCF
35.0x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
32.4x
Market cap / cash from operations, when positive.
EV/Sales
3.35x
Enterprise value / revenue.
EV/FCF
31.6x
Enterprise value / free cash flow, when both are positive.
FCF yield
2.9%
Free cash flow / market cap.
Earnings yield
-16.1%
Net income / market cap (the inverse of P/E).
What was Zhengye Biotechnology Holding Ltd's revenue in fiscal 2025?
Zhengye Biotechnology Holding Ltd reported revenue of $16.6M for fiscal 2025, 34.8% lower than the year before.
Was Zhengye Biotechnology Holding Ltd profitable in fiscal 2025?
No. It reported a net loss of $10.0M.
How much free cash flow did Zhengye Biotechnology Holding Ltd generate in fiscal 2025?
Cash from operations of $1.9M minus capital expenditures of $144.0K left free cash flow of $1.8M.
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.