Baird Medical Investment Holdings Ltd (BDMD) 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 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2025, filed Jul 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BDMD SEC filings page.
Baird Medical Investment Holdings Ltd (BDMD) reported $22.5M in revenue for fiscal year 2025, down 39.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
The business retained high product margins, but FY2025’s revenue drop and spending surge turned profits into losses.
Revenue fell to$22.5M from$37.0M in FY2025, while gross margin remained structurally high. That points to the break occurring below gross profit: operating margin swung from41.4% to-113.7% as R&D and SG&A expanded.
R&D spending rose to
Despite the net loss, operating cash flow was
Financial Health Signals
Scored against operating 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 Baird Medical Investment Holdings Ltd'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.
Baird Medical Investment Holdings Ltd's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 6/100.
Baird Medical Investment Holdings Ltd's revenue declined 39.2% year-over-year, from $37.0M to $22.5M. This contraction results in a growth score of 6/100.
Baird Medical Investment Holdings Ltd carries a low D/E ratio of 0.19, meaning only $0.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.
Baird Medical Investment Holdings Ltd's current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
Baird Medical Investment Holdings Ltd's operations used $1.3M of cash, and capex of $42K added to the outflow, for a free cash flow shortfall of $1.4M. This results in a cash flow score of 10/100.
Baird Medical Investment Holdings Ltd posts a -87.0% return on equity (ROE), meaning it loses $87 for every $100 of shareholders' equity. This results in a returns score of 9/100. This is down from 31.4% the prior year.
Baird Medical Investment Holdings Ltd scores -0.13, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($24.7M) relative to total liabilities ($38.5M). 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.
Baird Medical Investment Holdings Ltd passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Baird Medical Investment Holdings Ltd reported a net loss of $27.3M while operations used $1.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Baird Medical Investment Holdings Ltd reported an operating loss of $25.6M against $354K 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
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Baird Medical Investment Holdings Ltd held $178K in cash against $6.1M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
BDMD 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BDMD 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 | Q4'2510-K | Q2'2510-Q | Q4'2410-K | Q4'2310-K |
|---|---|---|---|---|
| Total Assets | $69.7M-10.6% | $77.0M | $78.0M+37.5% | $56.7M |
| Current Assets | $55.0M-10.5% | $60.7M | $61.4M+53.2% | $40.1M |
| Cash & Equivalents | $178K-94.0% | $2.2M | $3.0M+96.6% | $1.5M |
| Short-Term Investments | $0 | $0 | $0 | $0 |
| Inventory | $1.1M-16.3% | $1.4M | $1.3M+13.5% | $1.1M |
| Accounts Receivable | $42.5M-8.7% | $40.8M | $46.6M+49.8% | $31.1M |
| Long-Term Investments | $0 | $0 | $0 | $0 |
| Goodwill | $60K+4.4% | $59K | $58K-2.7% | $59K |
| Total Liabilities | $38.5M+0.7% | $41.4M | $38.2M+81.9% | $21.0M |
| Current Liabilities | $32.4M-6.5% | $35.5M | $34.6M+82.5% | $19.0M |
| Non-Current Liabilities | $6.1M+70.8% | $5.9M | $3.6M+76.7% | $2.0M |
| Long-Term Debt | $6.1M+76.8% | $5.8M | $3.4M+113.3% | $1.6M |
| Total Equity | $31.4M-20.9% | $35.6M | $39.7M+10.9% | $35.8M |
| Retained Earnings | -$515K-101.9% | $15.5M | $26.8M+85.9% | $14.4M |
BDMD 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.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
BDMD 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, 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 |
|---|---|---|---|---|---|---|
| Baird Medical Investment Holdings Ltd BDMD | FY2025 | $22.5M | -$27.3M | N/A | $24.7M | 26/100 |
| InspireMD, Inc. NSPR | FY2025 | $9.0M | -$48.8M | N/A | $24.4M | 49/100 |
| Apyx Medical Corporation APYX | FY2025 | $52.8M | -$11.2M | -21.2% | $109.1M | 43/100 |
| IceCure Medical Ltd. ICCM | FY2025 | $3.4M | -$15.1M | N/A | $5.1M | 47/100 |
| Xtant Medical Holdings, Inc. XTNT | FY2025 | $133.9M | $5K | 0.0% | $45.7M | 60/100 |
Where Baird Medical Investment Holdings Ltd Ranks
Frequently Asked Questions
What is Baird Medical Investment Holdings Ltd's annual revenue?
Baird Medical Investment Holdings Ltd (BDMD) reported $22.5M in total revenue for fiscal year 2025. This represents a -39.2% 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 Baird Medical Investment Holdings Ltd's revenue growing?
Baird Medical Investment Holdings Ltd (BDMD) revenue declined by 39.2% year-over-year, from $37.0M to $22.5M in fiscal year 2025.
Is Baird Medical Investment Holdings Ltd profitable?
No, Baird Medical Investment Holdings Ltd (BDMD) reported a net income of -$27.3M in fiscal year 2025.
What is Baird Medical Investment Holdings Ltd's EBITDA?
Baird Medical Investment Holdings Ltd (BDMD) had EBITDA of -$24.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Baird Medical Investment Holdings Ltd have?
As of fiscal year 2025, Baird Medical Investment Holdings Ltd (BDMD) had $178K in cash and equivalents against $6.1M in long-term debt.
What is Baird Medical Investment Holdings Ltd's gross margin?
Baird Medical Investment Holdings Ltd (BDMD) had a gross margin of 83.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Baird Medical Investment Holdings Ltd's return on equity (ROE)?
Baird Medical Investment Holdings Ltd (BDMD) has a return on equity of -87.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Baird Medical Investment Holdings Ltd's free cash flow?
Baird Medical Investment Holdings Ltd (BDMD) recorded an outflow of $1.4M in free cash flow during fiscal year 2025. This represents a 84.9% 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 Baird Medical Investment Holdings Ltd's operating cash flow?
Baird Medical Investment Holdings Ltd (BDMD) recorded an outflow of $1.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Baird Medical Investment Holdings Ltd's total assets?
Baird Medical Investment Holdings Ltd (BDMD) had $69.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Baird Medical Investment Holdings Ltd's capital expenditures?
Baird Medical Investment Holdings Ltd (BDMD) invested $42K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Baird Medical Investment Holdings Ltd spend on research and development?
Baird Medical Investment Holdings Ltd (BDMD) invested $20.1M in research and development during fiscal year 2025.
What is Baird Medical Investment Holdings Ltd's current ratio?
Baird Medical Investment Holdings Ltd (BDMD) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.
What is Baird Medical Investment Holdings Ltd's debt-to-equity ratio?
Baird Medical Investment Holdings Ltd (BDMD) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Baird Medical Investment Holdings Ltd's return on assets (ROA)?
Baird Medical Investment Holdings Ltd (BDMD) had a return on assets of -39.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Baird Medical Investment Holdings Ltd's P/E ratio?
Baird Medical Investment Holdings Ltd (BDMD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $24.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Baird Medical Investment Holdings Ltd's price-to-sales ratio?
Baird Medical Investment Holdings Ltd (BDMD) trades at 1.1x sales, its market capitalization divided by revenue of $22.5M revenue, FY2025. The market capitalization is $24.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Baird Medical Investment Holdings Ltd's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Baird Medical Investment Holdings Ltd (BDMD) held $178K in cash, cash equivalents and investments, and reported an operating cash outflow of $1.3M over that year. Dividing the one by the other, the reported balance equals about 2 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 Baird Medical Investment Holdings Ltd's Altman Z-Score?
Baird Medical Investment Holdings Ltd (BDMD) has an Altman Z-Score of -0.13, 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 Baird Medical Investment Holdings Ltd's Piotroski F-Score?
Baird Medical Investment Holdings Ltd (BDMD) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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 Baird Medical Investment Holdings Ltd's earnings high quality?
Baird Medical Investment Holdings Ltd (BDMD) reported a net loss of $27.3M while operations used $1.3M 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 Baird Medical Investment Holdings Ltd cover its interest payments?
Baird Medical Investment Holdings Ltd (BDMD) reported an operating loss of $25.6M against $354K 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 Baird Medical Investment Holdings Ltd?
Baird Medical Investment Holdings Ltd (BDMD) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.