Alset Inc. (AEI) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AEI SEC filings page.
Alset Inc. (AEI) reported $4.3M in revenue over the twelve months to Jun 30, 2026, down 73.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Alset operates with an equity-heavy balance sheet, but FY2025 shows revenue volatility can quickly reopen operating cash needs.
The earnings-to-cash relationship changed sharply across periods: FY2023 and FY2024 reported net losses alongside positive operating cash flow, whereas FY2025 combined a net loss of$47.4M with operating cash flow of-$5.9M . That shift matters because the latest loss is no longer merely an accounting outcome; operations themselves consumed cash.
FY2025 asset base was
The balance sheet is equity-heavy: debt-to-equity was 0.1x and current ratio 7.5x, so near-term funding is not primarily debt-driven. But FY2025 operating cash flow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Alset Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Alset Inc. held $25.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $5.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Alset Inc. scores 67/100 among other emerging companies.
Alset Inc. had 39M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Alset Inc. scores 10/100 among other emerging companies.
Not available for Alset Inc., and counted as zero in the overall score.
Alset Inc. reported revenue of $4.5M in fiscal year 2025, against $21.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Alset Inc. scores 4/100 among other emerging companies.
Not available for Alset Inc., and counted as zero in the overall score.
Alset Inc.'s cash, cash equivalents and investments came to $25.2M at the end of fiscal year 2025, against $6.9M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Alset Inc. scores 85/100 among other emerging companies.
Alset Inc. scores -0.68, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($27.5M) relative to total liabilities ($6.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Alset Inc. passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Alset Inc. reported a net loss of $47.4M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Alset Inc. reported an operating loss of $15.2M against $55K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Alset Inc. generated $989K in revenue in Q2 2026. This represents a decrease of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 0.8%.
Alset Inc. reported -$5.3M in net income in Q2 2026. This represents an increase of 35.9% from the same quarter a year earlier. Against the prior quarter it is down 16.6%.
Alset Inc. earned -$0.14 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 16.7%.
Not reported for Q2 2026.
Cash & Balance Sheet
Alset Inc. recorded an outflow of $7.8M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 187.2% from the same quarter a year earlier. Against the prior quarter it is down 418.2%.
Alset Inc. held $12.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Alset Inc.'s gross margin was 8.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 19.6 percentage points.
Alset Inc.'s ROE was -4.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Alset Inc. invested $81K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 3.2% from the same quarter a year earlier. Against the prior quarter it is up 1078.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
AEI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $989K-10.0% | $981K-8.2% | $1.3M-85.4% | $999K-79.9% | $1.1M-2.5% | $1.1M-82.4% | $8.9M+778.8% | $5.0M+401.0% |
| Cost of Revenue | $905K-11.5% | $706K-9.2% | $666K-84.7% | $756K-74.4% | $1.0M+23.1% | $778K-83.3% | $4.3M+177.2% | $2.9M+407.7% |
| Gross Profit | $84K+8.9% | $275K-5.4% | $639K-86.1% | $242K-87.9% | $77K-74.1% | $291K-79.6% | $4.6M+936.1% | $2.0M+391.5% |
| SG&A Expenses | $1.9M-32.9% | $2.9M-18.6% | $6.4M+148.3% | $2.3M+1.6% | $2.8M-0.8% | $3.6M+10.6% | $2.6M+6.8% | $2.2M-10.9% |
| Operating Income | -$1.8M+34.9% | -$2.7M+32.5% | -$5.9M-406.0% | -$2.6M-167.6% | -$2.8M+1.9% | -$3.9M-73.5% | $1.9M+150.4% | -$964K+53.6% |
| EBITDA | N/A | -$2.4M+34.9% | N/A | -$2.3M-223.3% | N/A | -$3.7M-82.9% | $2.2M+162.2% | -$700K+61.5% |
| Interest Expense | $3K-89.5% | $10K-80.1% | -$63K-490.8% | $34K+261.1% | $32K-65.9% | $51K+167.3% | -$11K | $10K-90.3% |
| Income Tax | $24K | N/A | N/A | $5K | N/A | $43K | N/A | N/A |
| Net Income | -$5.3M+35.9% | -$4.5M+45.7% | -$32.4M-1491.5% | $1.5M-11.9% | -$8.2M-563.5% | -$8.3M-23.1% | $2.3M+107.0% | $1.7M+110.7% |
| EPS (Basic) | -$0.14+80.3% | -$0.12+84.6% | -$1.41-664.0% | $0.05-73.7% | -$0.71-446.2% | -$0.78-6.8% | $0.25+106.8% | $0.19+111.0% |
| EPS (Diluted) | -$0.14 | -$0.12 | -$1.41 | $0.05 | -$0.71 | -$0.78-6.8% | $0.25+106.8% | $0.19+111.0% |
| Diluted Shares (Avg) | 39M | 39M | N/A | 33M | 12M | 11M+15.9% | N/A | 9M0.0% |
Not reported in any period shown, so not listed: R&D Expenses.
AEI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $124.9M+45.3% | $131.7M+45.6% | $136.6M+41.2% | $169.1M+71.2% | $86.0M-8.0% | $90.5M-6.5% | $96.8M-23.4% | $98.8M-37.1% |
| Current Assets | $30.2M-31.4% | $35.3M-34.7% | $44.8M-25.1% | $44.8M-21.6% | $44.0M-8.2% | $54.1M+12.3% | $59.8M+7.8% | $57.1M-34.9% |
| Cash & Equivalents | $12.3M-51.8% | $21.5M-14.7% | $25.2M-7.6% | $25.5M+52.6% | $25.6M+35.1% | $25.2M+6.2% | $27.2M+1.2% | $16.7M-40.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $9K-12.2% | $8K+57.4% | $6K+26.5% | $24K+671.4% | $10K+62.4% | $5K-23.7% | $5K-11.7% | $3K-89.1% |
| Accounts Receivable | $56K-29.7% | $56K-38.8% | $57K-24.6% | $63K-32.1% | $80K+0.7% | $91K+6.5% | $76K-2.4% | $93K+28.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.8M-40.7% | $4.0M-29.5% | $6.9M+5.5% | $4.7M-12.6% | $4.7M-17.8% | $5.7M-15.2% | $6.6M-82.8% | $5.4M-33.9% |
| Current Liabilities | $2.5M-38.1% | $3.2M-32.9% | $5.9M+8.3% | $4.2M+25.5% | $4.1M+9.4% | $4.8M+3.9% | $5.5M-32.5% | $3.4M-48.2% |
| Non-Current Liabilities | $290K-56.5% | $754K-9.8% | $991K-8.8% | $481K-76.2% | $667K-67.3% | $836K-58.9% | $1.1M-96.4% | $2.0M+22.6% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $116K-20.1% | $123K-21.5% | $138K-13.4% |
| Total Equity | $114.5M+57.2% | $119.4M+56.4% | $121.1M+48.9% | $155.7M+84.9% | $72.8M-8.3% | $76.4M-6.5% | $81.3M-7.8% | $84.2M-29.5% |
| Retained Earnings | -$309.1M-15.1% | -$303.8M-16.8% | -$299.3M-18.8% | -$266.9M-5.0% | -$268.4M-4.9% | -$260.2M-2.2% | -$251.9M-1.6% | -$254.2M-18.6% |
Not reported in any period shown, so not listed: Goodwill.
AEI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.7M-193.3% | -$1.5M+60.3% | -$436K-103.1% | $883K+131.0% | -$2.6M+40.3% | -$3.8M-148.9% | $13.9M+1890.2% | -$2.9M-437.4% |
| Depreciation & Amortization | N/A | $269K0.0% | N/A | $317K+20.1% | N/A | $269K+1.8% | $283K+4.0% | $264K+1.8% |
| Stock-Based Compensation | $0-100.0% | $0 | N/A | $0 | $840K | $0 | N/A | $0 |
| Capital Expenditures | $81K-3.2% | $7K-88.8% | -$30K-13.6% | $61K+90.1% | $84K+150.2% | $61K+2855.8% | $35K+699.9% | $32K+147.2% |
| Free Cash Flow | -$7.8M-187.2% | -$1.5M+60.8% | -$466K-103.4% | $822K+128.5% | -$2.7M+38.9% | -$3.8M-152.6% | $13.9M+1875.7% | -$2.9M-446.5% |
| Investing Cash Flow | -$1.0M-149.0% | -$2.7M-475.8% | $1.6M+232.0% | -$1.1M-16.8% | $2.1M-90.0% | -$462K+73.8% | -$1.2M+10.2% | -$909K-543.7% |
| Financing Cash Flow | -$502K-6868.2% | -$6K-100.3% | -$898K-1751.8% | -$328K-1625.0% | -$7K+100.0% | $2.3M+1071.5% | -$48K+78.1% | -$19K-126.4% |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
AEI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.5%+1.5pp | 28.1%+0.8pp | 48.9%-2.5pp | 24.3%-16.3pp | 7.0%-19.4pp | 27.2%+3.8pp | 51.4%+105.5pp | 40.5%-0.8pp |
| Operating Margin | -181.4% | -270.4% | -451.0% | -258.2% | -250.7% | -368.1% | 21.5% | -19.4% |
| Net Margin | -533.4% | -461.1% | -2481.1% | 151.4% | -748.1% | -780.1% | 26.0% | 34.6% |
| Return on Equity | -4.6%+6.7pp | -3.8%+7.1pp | -26.7%-29.6pp | 1.0%-1.1pp | -11.3%-9.7pp | -10.9%-2.6pp | 2.9%+40.6pp | 2.0%+15.4pp |
| Return on Assets | -4.2%+5.3pp | -3.4%+5.8pp | -23.7%-26.1pp | 0.9%-0.8pp | -9.6%-8.2pp | -9.2%-2.2pp | 2.4%+28.7pp | 1.7%+11.9pp |
| Current Ratio | 11.97+1.2x | 10.92-0.3x | 7.55-3.4x | 10.59-6.4x | 10.81-2.1x | 11.22+0.8x | 10.91+4.1x | 16.94+3.4x |
| Debt-to-Equity | 0.020.0x | 0.030.0x | 0.06+0.1x | 0.030.0x | 0.07+0.1x | 0.000.0x | 0.000.0x | 0.000.0x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.01-0.1x | 0.010.0x | 0.010.0x | 0.01-0.1x | 0.09+0.1x | 0.050.0x |
| FCF Margin | -785.1% | -152.7% | -35.8% | 82.3%+140.5pp | -245.9% | -357.3% | 155.1% | -58.2%-142.3pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Alset Inc. AEI | FY2025 | $4.5M | -$47.4M | N/A | $27.5M | 28/100 |
| AMREP Corporation AXR | FY2026 | $52.8M | $10.4M | 19.7% | $110.3M | 50/100 |
| Logistic Properties of the Americas LPA | FY2025 | $50.1M | $16.1M | 32.1% | $90.7M | 31/100 |
| Belpointe PREP, LLC OZ | FY2025 | $9.2M | -$40.0M | N/A | $150.3M | 24/100 |
| JFB Construction Holdings JFB | FY2025 | $30.5M | -$5.3M | -17.3% | $100.0M | 55/100 |
Where Alset Inc. Ranks
Frequently Asked Questions
What is Alset Inc.'s annual revenue?
Alset Inc. (AEI) reported $4.5M in total revenue for fiscal year 2025. This represents a -78.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Alset Inc.'s revenue growing?
Alset Inc. (AEI) revenue declined by 78.8% year-over-year, from $21.1M to $4.5M in fiscal year 2025.
Is Alset Inc. profitable?
No, Alset Inc. (AEI) reported a net income of -$47.4M in fiscal year 2025.
What is Alset Inc.'s EBITDA?
Alset Inc. (AEI) had EBITDA of -$14.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Alset Inc.'s gross margin?
Alset Inc. (AEI) had a gross margin of 27.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Alset Inc.'s return on equity (ROE)?
Alset Inc. (AEI) has a return on equity of -39.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Alset Inc.'s free cash flow?
Alset Inc. (AEI) recorded an outflow of $6.1M in free cash flow during fiscal year 2025. This represents a -220.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Alset Inc.'s operating cash flow?
Alset Inc. (AEI) recorded an outflow of $5.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Alset Inc.'s total assets?
Alset Inc. (AEI) had $136.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Alset Inc.'s capital expenditures?
Alset Inc. (AEI) invested $175K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Alset Inc.'s current ratio?
Alset Inc. (AEI) had a current ratio of 7.55 as of fiscal year 2025, which is generally considered healthy.
What is Alset Inc.'s debt-to-equity ratio?
Alset Inc. (AEI) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Alset Inc.'s return on assets (ROA)?
Alset Inc. (AEI) had a return on assets of -34.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Alset Inc.'s P/E ratio?
Alset Inc. (AEI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $27.5M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Alset Inc.'s price-to-sales ratio?
Alset Inc. (AEI) trades at 6.4x sales, its market capitalization divided by revenue of $4.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $27.5M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Alset Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Alset Inc. (AEI) held $25.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.9M over that year. Dividing the one by the other, the reported balance equals about 51 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Alset Inc.'s Altman Z-Score?
Alset Inc. (AEI) has an Altman Z-Score of -0.68, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Alset Inc.'s Piotroski F-Score?
Alset Inc. (AEI) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Alset Inc.'s earnings high quality?
Alset Inc. (AEI) reported a net loss of $47.4M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Alset Inc. cover its interest payments?
Alset Inc. (AEI) reported an operating loss of $15.2M against $55K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Alset Inc.?
Alset Inc. (AEI) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.