CN Energy Group (CNEY) 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 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F/A for FY2025, filed Sep 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CNEY SEC filings page.
CN Energy Group Inc. (CNEY) reported $35.6M in revenue for fiscal year 2025, down 30.2% from the prior fiscal year. 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).
FY2025 shows a shrinking, low-margin operation whose investments and cash needs were funded outside day-to-day operations.
The gap between accounting loss and operating cash flow is unusually wide: FY2025 recorded a net loss of$11.1M but operating cash flow of-$1.97M . That smaller cash outflow coincided with accounts receivable falling from$11.8M in FY2024 to$1.65M in FY2025, suggesting collections helped cash even though reported profitability remained weak.
Revenue fell
The balance sheet is lightly liability-funded: liabilities were
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. 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 CN Energy Group 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.
CN Energy Group Inc. held $41.0M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $2.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and CN Energy Group Inc. scores 98/100 among other emerging companies.
CN Energy Group Inc. had 5M 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 CN Energy Group Inc. scores 21/100 among other emerging companies.
CN Energy Group Inc. spent $1K on research and development in fiscal year 2025, which was 0.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and CN Energy Group Inc. scores 1/100 among other emerging companies.
CN Energy Group Inc. reported revenue of $35.6M in fiscal year 2025, against $51.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and CN Energy Group Inc. scores 18/100 among other emerging companies.
CN Energy Group Inc.'s operations used $2.0M of cash in fiscal year 2025, against $2.4M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and CN Energy Group Inc. scores 88/100 among other emerging companies.
CN Energy Group Inc.'s cash, cash equivalents and investments came to $41.0M at the end of fiscal year 2025, against $5.3M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and CN Energy Group Inc. scores 93/100 among other emerging companies.
CN Energy Group Inc. scores 0.61, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $27.9M against total assets of $107.3M. 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.
CN Energy Group Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
CN Energy Group Inc. reported a net loss of $11.1M while operations used $2.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
CN Energy Group Inc. reported an operating loss of $11.0M against $168K 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
CN Energy Group Inc. generated $35.6M in revenue in fiscal year 2025. This represents a decrease of 30.2% from the prior year.
CN Energy Group Inc.'s EBITDA was -$10.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior year is not meaningful, because that figure was zero or negative.
CN Energy Group Inc. reported a net loss of $11.1M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
CN Energy Group Inc. earned -$21.46 per diluted share (EPS) in fiscal year 2025.
Cash & Balance Sheet
CN Energy Group Inc. recorded an outflow of $2.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
CN Energy Group Inc. held $391K in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Margins & Returns
CN Energy Group Inc.'s gross margin was 1.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.2 percentage points from the prior year.
CN Energy Group Inc.'s operating margin was -30.9% in fiscal year 2025, reflecting core business profitability. This is down 6.3 percentage points from the prior year.
CN Energy Group Inc.'s net profit margin was -31.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.8 percentage points from the prior year.
CN Energy Group Inc.'s ROE was -10.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.6 percentage points from the prior year.
Capital Allocation
CN Energy Group Inc. invested $1K in research and development in fiscal year 2025. This represents a decrease of 99.1% from the prior year.
CN Energy Group Inc. reported no capital expenditure in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Not reported for fiscal year 2025.
CNEY 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Revenue | $35.6M-30.2% | $51.0M-12.0% | $57.9M+44.0% | $40.2M+102.6% | $19.8M+59.1% | $12.5M+14.5% | $10.9M |
| Cost of Revenue | $34.9M-31.7% | $51.1M-10.5% | $57.1M+56.2% | $36.6M+112.2% | $17.2M+89.0% | $9.1M+15.1% | $7.9M |
| Gross Profit | $648Kn/m | -$181K-123.0% | $789K-78.3% | $3.6M+39.2% | $2.6M-22.1% | $3.4M+13.0% | $3.0M |
| R&D Expenses | $1K-99.1% | $135K-86.3% | $989K-4.2% | $1.0M+167.8% | $386K+34.2% | $287K-51.6% | $594K |
| SG&A Expenses | $2.7M-14.9% | $3.2M-44.7% | $5.8M+169.1% | $2.1M+30.4% | $1.6M+54.3% | $1.1M-10.3% | $1.2M |
| Operating Income | -$11.0Mn/m | -$12.5Mn/m | -$6.2M-1443.6% | $460K-21.2% | $583K-70.9% | $2.0M+68.7% | $1.2M |
| EBITDA | -$10.4Mn/m | -$10.9Mn/m | -$4.6M-346.2% | $1.9M+10.5% | $1.7M-42.4% | $2.9M+37.1% | $2.1M |
| Interest Expense | $168K-28.1% | $234Kn/m | $0-100.0% | $157Kn/m | $0-100.0% | $28K+322.6% | $7K |
| Income Tax | $378n/m | -$9Kn/m | -$222Kn/m | -$314Kn/m | -$437K-357.1% | $170K0.0% | $170K |
| Net Income | -$11.1Mn/m | -$14.0Mn/m | -$5.6M-352.3% | $2.2M+72.0% | $1.3M-44.7% | $2.3M+40.6% | $1.7M |
| EPS (Basic) | -$21.46 | -$103.27 | -$78.01 | $3.09+20.7% | $2.56 | $0.23+35.3% | $0.17 |
| EPS (Diluted) | -$21.46 | -$103.27 | -$78.01 | $3.09+20.7% | $2.56 | $0.23+35.3% | $0.17 |
| Diluted Shares (Avg) | 2M | 274,481 | 90,683 | 721,993+42.5% | 506,584 | 10M0.0% | 10M |
CNEY 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Total Assets | $107.3M+9.1% | $98.4M-22.1% | $126.2M+32.9% | $94.9M+37.7% | $69.0M+119.3% | $31.4M | N/A |
| Current Assets | $65.8M+6.9% | $61.5M-15.1% | $72.4M-2.4% | $74.2M+51.8% | $48.9M+232.6% | $14.7M | N/A |
| Cash & Equivalents | $391K+23.1% | $317K+62.3% | $196K-98.9% | $18.0M+9360.6% | $191K-87.9% | $1.6M+0.6% | $1.6M |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Inventory | $3.6M+9.4% | $3.3M+25.4% | $2.7M+238.6% | $784K-29.8% | $1.1M-60.3% | $2.8M | N/A |
| Accounts Receivable | $1.7M-86.0% | $11.8M-59.4% | $29.0M+54.6% | $18.8M+51.6% | $12.4M+41.8% | $8.7M | N/A |
| Long-Term Investments | $40.6Mn/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Total Liabilities | $5.3M+268.4% | $1.5M-93.6% | $22.6M-27.4% | $31.2M+395.8% | $6.3M-24.5% | $8.3M | N/A |
| Current Liabilities | $4.7M+226.2% | $1.5M-93.5% | $22.4M-26.3% | $30.5M+439.8% | $5.6M-26.7% | $7.7M | N/A |
| Non-Current Liabilities | $611Kn/m | $0-100.0% | $190K-72.8% | $698K+8.9% | $641K+3.2% | $621K | N/A |
| Long-Term Debt | N/A | $0-100.0% | $34K-91.9% | $422K+1814.1% | $22K | N/A | N/A |
| Total Equity | $102.0M+5.2% | $96.9M-6.4% | $103.6M+62.4% | $63.8M+1.8% | $62.7M+171.1% | $23.1M+28.5% | $18.0M |
| Retained Earnings | -$27.9Mn/m | -$16.7Mn/m | -$3.2M-233.0% | $2.4M+512.2% | $395K+52.0% | $260K | N/A |
Not reported in any period shown, so not listed: Goodwill.
CNEY 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.0Mn/m | -$2.4Mn/m | -$30.2Mn/m | -$7.5Mn/m | -$11.6Mn/m | -$1.8M-1556.4% | $125K |
| Depreciation & Amortization | $617K-61.5% | $1.6M+0.1% | $1.6M+14.3% | $1.4M+27.3% | $1.1M+20.0% | $916K-2.8% | $943K |
| Capital Expenditures | $0n/m | $0-100.0% | $683K-72.6% | $2.5M+473.4% | $435K+2859.5% | $15K-98.3% | $887K |
| Free Cash Flow | -$2.0Mn/m | -$2.4Mn/m | -$30.8Mn/m | -$10.0Mn/m | -$12.0Mn/m | -$1.8Mn/m | -$762K |
| Investing Cash Flow | -$10.4M-763.1% | $1.6Mn/m | -$1.5M-166.9% | $2.2Mn/m | -$27.9Mn/m | -$876Kn/m | -$1.2M |
| Financing Cash Flow | $12.4M+1244.5% | $926K-93.1% | $13.4M-46.1% | $24.9M-34.4% | $38.0M+1349.2% | $2.6M+232.0% | $790K |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
CNEY 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Gross Margin | 1.8%+2.2pp | -0.4%-1.7pp | 1.4%-7.7pp | 9.1%-4.1pp | 13.2%-13.7pp | 26.9%-0.4pp | 27.3% |
| Operating Margin | -30.9%-6.3pp | -24.5%-13.8pp | -10.7%-11.8pp | 1.1%-1.8pp | 2.9%-13.1pp | 16.1%+5.1pp | 10.9% |
| Net Margin | -31.3%-3.8pp | -27.6%-17.8pp | -9.7%-15.3pp | 5.5%-1.0pp | 6.5%-12.3pp | 18.8%+3.5pp | 15.3% |
| Return on Equity | -10.9%+3.6pp | -14.5%-9.1pp | -5.4%-8.9pp | 3.5%+1.4pp | 2.1%-8.1pp | 10.1%+0.9pp | 9.3% |
| Return on Assets | -10.4%+3.9pp | -14.3%-9.8pp | -4.5%-6.8pp | 2.4%+0.5pp | 1.9%-5.6pp | 7.5% | N/A |
| Current Ratio | 13.90-28.5x | 42.41+39.2x | 3.23+0.8x | 2.44-6.2x | 8.66+6.8x | 1.91 | N/A |
| Debt-to-Equity | N/A | 0.000.0x | 0.000.0x | 0.010.0x | 0.00 | N/A | N/A |
| Liabilities-to-Equity | 0.050.0x | 0.01-0.2x | 0.22-0.3x | 0.49+0.4x | 0.10-0.3x | 0.36 | N/A |
| Asset Turnover | 0.33-0.2x | 0.52+0.1x | 0.460.0x | 0.42+0.1x | 0.29-0.1x | 0.40 | N/A |
| FCF Margin | -5.5%-0.9pp | -4.7%+48.6pp | -53.3%-28.4pp | -24.9%+35.7pp | -60.6%-45.9pp | -14.7%-7.7pp | -7.0% |
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 |
|---|---|---|---|---|---|---|
| CN Energy Group Inc. CNEY | FY2025 | $35.6M | -$11.1M | -31.3% | $2.6M | 53/100 |
| BOLT PROJECTS HLDGS INC BSLK | FY2024 | $1.4M | N/A | N/A | N/A | — |
| Bon Natural Life Limited BON | FY2025 | $18.7M | -$2.0M | -10.7% | $9.4M | 38/100 |
| BioNexus Gene Lab Corp BGLC | FY2025 | $7.4M | -$3.0M | -40.2% | $3.5M | 43/100 |
| SenesTech, Inc. SNES | FY2025 | $2.2M | -$6.4M | N/A | $4.6M | 63/100 |
| 5E Advanced Materials, Inc. FEAM | FY2026 | N/A | -$42.9M | N/A | $95.4M | — |
Where CN Energy Group Inc. Ranks
Frequently Asked Questions
What is CN Energy Group Inc.'s annual revenue?
CN Energy Group Inc. (CNEY) reported $35.6M in total revenue for fiscal year 2025. This represents a -30.2% 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 CN Energy Group Inc.'s revenue growing?
CN Energy Group Inc. (CNEY) revenue declined by 30.2% year-over-year, from $51.0M to $35.6M in fiscal year 2025.
Is CN Energy Group Inc. profitable?
No, CN Energy Group Inc. (CNEY) reported a net loss of $11.1M in fiscal year 2025, with a net profit margin of -31.3%.
What is CN Energy Group Inc.'s EBITDA?
CN Energy Group Inc. (CNEY) had EBITDA of -$10.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is CN Energy Group Inc.'s gross margin?
CN Energy Group Inc. (CNEY) had a gross margin of 1.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is CN Energy Group Inc.'s operating margin?
CN Energy Group Inc. (CNEY) had an operating margin of -30.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CN Energy Group Inc.'s net profit margin?
CN Energy Group Inc. (CNEY) had a net profit margin of -31.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is CN Energy Group Inc.'s return on equity (ROE)?
CN Energy Group Inc. (CNEY) has a return on equity of -10.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CN Energy Group Inc.'s free cash flow?
CN Energy Group Inc. (CNEY) recorded an outflow of $2.0M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 CN Energy Group Inc.'s operating cash flow?
CN Energy Group Inc. (CNEY) recorded an outflow of $2.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are CN Energy Group Inc.'s total assets?
CN Energy Group Inc. (CNEY) had $107.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are CN Energy Group Inc.'s capital expenditures?
CN Energy Group Inc. (CNEY) reported no capital expenditure during fiscal year 2025.
How much does CN Energy Group Inc. spend on research and development?
CN Energy Group Inc. (CNEY) invested $1K in research and development during fiscal year 2025.
What is CN Energy Group Inc.'s current ratio?
CN Energy Group Inc. (CNEY) had a current ratio of 13.90 as of fiscal year 2025, which is generally considered healthy.
What is CN Energy Group Inc.'s liabilities-to-equity ratio?
CN Energy Group Inc. (CNEY) had a liabilities-to-equity ratio of 0.05 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is CN Energy Group Inc.'s return on assets (ROA)?
CN Energy Group Inc. (CNEY) had a return on assets of -10.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CN Energy Group Inc.'s P/E ratio?
CN Energy Group Inc. (CNEY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.6M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CN Energy Group Inc.'s price-to-sales ratio?
CN Energy Group Inc. (CNEY) trades at 0.1x sales, its market capitalization divided by $35.6M revenue, FY2025. The market capitalization is $2.6M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CN Energy Group Inc.'s Altman Z-Score?
CN Energy Group Inc. (CNEY) has an Altman Z-Score of 0.61, 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 CN Energy Group Inc.'s Piotroski F-Score?
CN Energy Group Inc. (CNEY) has a Piotroski F-Score of 4 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 CN Energy Group Inc.'s earnings high quality?
CN Energy Group Inc. (CNEY) reported a net loss of $11.1M while operations used $2.0M 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 CN Energy Group Inc. cover its interest payments?
CN Energy Group Inc. (CNEY) reported an operating loss of $11.0M against $168K 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 CN Energy Group Inc.?
CN Energy Group Inc. (CNEY) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average 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.