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Dogness (International) vs Multi Ways: revenue, profit, margins and growth compared

Dogness (International) brought in $20.7M of revenue in fiscal 2025, Multi Ways $44.8M in fiscal 2025. Revenue changed by +39.5% at Dogness (International) and +44.1% at Multi Ways on the year before, so Multi Ways grew faster. Dogness (International) kept -24.6% of its revenue as net profit, Multi Ways -1.0%. Free cash flow was -$453.1K at Dogness (International) and $6.2M at Multi Ways.

Side by side, latest fiscal year

DOGZMWG
Fiscal year endedFY2025 (June 30, 2025)FY2025 (December 31, 2025)
Revenue$20.7M$44.8M
Revenue growth+39.5%+44.1%
Net income-$5.1M-$433K
Net margin-24.6%-1.0%
Free cash flow-$453.1K$6.2M
Free cash flow margin-2.2%13.7%
Earnings per share (diluted)-$0.38-$0.11
Cash$12.8M$1.9M
Debtn/an/a
Price to earningsn/an/a
Market value$13.2M$6.5M
Dividend yieldn/an/a
Rank by revenue in sector#826 of 955 · Consumer discretionary#776 of 955 · Consumer discretionary

Over the years

Revenue
DOGZ FY2018: $30.1MDOGZ FY2019: $26.2MDOGZ FY2020: $19.2MDOGZ FY2021: $24.3MDOGZ FY2022: $27.1MDOGZ FY2023: $17.6MDOGZ FY2024: $14.8MDOGZ FY2025: $20.7MMWG FY2020: $29.9MMWG FY2022: $33.4MMWG FY2022: $38.4MMWG FY2023: $36MMWG FY2024: $31.1MMWG FY2025: $44.8MFY18FY19FY20FY21FY22FY23FY24FY25
DOGZ $20.7MMWG $44.8M
Net income
DOGZ FY2018: $4.6MDOGZ FY2019: $1.4MDOGZ FY2020: -$8.4MDOGZ FY2021: $1.5MDOGZ FY2022: $3.2MDOGZ FY2023: -$7.2MDOGZ FY2024: -$6.1MDOGZ FY2025: -$5.1MMWG FY2020: $1.3MMWG FY2022: $1.8MMWG FY2022: $978KMWG FY2023: $1.8MMWG FY2024: -$2.9MMWG FY2025: -$433KFY18FY19FY20FY21FY22FY23FY24FY25
DOGZ -$5.1MMWG -$433K
Net margin
DOGZ FY2018: 15.3%DOGZ FY2019: 5.4%DOGZ FY2020: -44.0%DOGZ FY2021: 6.2%DOGZ FY2022: 11.9%DOGZ FY2023: -40.9%DOGZ FY2024: -40.8%DOGZ FY2025: -24.6%MWG FY2020: 4.4%MWG FY2022: 5.4%MWG FY2022: 2.5%MWG FY2023: 5.0%MWG FY2024: -9.2%MWG FY2025: -1.0%FY18FY19FY20FY21FY22FY23FY24FY25
DOGZ -24.6%MWG -1.0%
Revenue growth
DOGZ FY2019: -13.0%DOGZ FY2020: -26.9%DOGZ FY2021: +26.9%DOGZ FY2022: +11.4%DOGZ FY2023: -35.1%DOGZ FY2024: -15.6%DOGZ FY2025: +39.5%MWG FY2022: +11.8%MWG FY2022: +14.8%MWG FY2023: -6.1%MWG FY2024: -13.7%MWG FY2025: +44.1%FY19FY20FY21FY22FY23FY24FY25
DOGZ +39.5%MWG +44.1%
Free cash flow
DOGZ FY2018: -$7.5MDOGZ FY2019: -$4.4MDOGZ FY2020: -$3MDOGZ FY2021: $3MDOGZ FY2022: -$9.1MDOGZ FY2023: -$10.4MDOGZ FY2024: -$2.7MDOGZ FY2025: -$453.1KMWG FY2020: $1MMWG FY2022: $93KMWG FY2023: -$1.9MMWG FY2024: -$13.5MMWG FY2025: $6.2MFY18FY19FY20FY21FY22FY23FY24FY25
DOGZ -$453.1KMWG $6.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Dogness (International) and Multi Ways

Which is bigger by revenue, Dogness (International) or Multi Ways?

Multi Ways is bigger by revenue: $44.8M in fiscal 2025, against $20.7M for Dogness (International) in fiscal 2025.

Which keeps more of its revenue as profit, Dogness (International) or Multi Ways?

Dogness (International) had a net margin of -24.6% in fiscal 2025; Multi Ways had -1.0% in fiscal 2025.

Which grew revenue faster, Dogness (International) or Multi Ways?

In their latest fiscal years revenue changed by +39.5% at Dogness (International) and +44.1% at Multi Ways.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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