GreenPower Mtr Co Inc Financials

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2024 Currency USD FYE March

This page shows GreenPower Mtr Co Inc (GP) financial statements, including the 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).

Rhea AI GP FY2024 2026-04-22

GreenPower's cash recovery in FY2024 came mostly from a working-capital release, not from a self-funding operating model.

Operating cash burn moved from -$14.8M in FY2023 to -$1.1M in FY2024, a sharp improvement without a matching earnings recovery. Because net loss still widened to -$18.3M and inventory remained high at $32.0M, the better cash result looks like a working-capital unwind rather than a cleaner profit engine.

The balance sheet looks liquid on paper: current ratio was 1.7x, yet cash was only $1.2M. With inventory still at $32.0M, much of that cushion is stock, not spendable liquidity, which makes working capital less protective than the ratio alone suggests.

Equity erosion is now the cleaner balance-sheet story, with equity falling to $11.6M from $27.7M in FY2024. Long-term debt at $4.0M is modest, but financing cash inflow of $2.3M shows the company still leaned on outside capital after operations and investment.

Financial Health Signals

Financial health score pending refresh

We are recalculating GreenPower Mtr Co Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

2/8

GreenPower Mtr Co Inc passes 2 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), both operating efficiency signals pass.

Earnings Quality Low Quality

0.06x

For every $1 of reported earnings, GreenPower Mtr Co Inc generates $0.06 in operating cash flow (-$1.1M OCF vs -$18.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$39.3M

YoY-1.1%

5Y CAGR+45.2%

GreenPower Mtr Co Inc generated $39.3M in revenue in fiscal year 2024. This represents a decrease of 1.1% from the prior year.

EBITDA

N/A

Net Income

-$18.3M

YoY-21.9%

GreenPower Mtr Co Inc reported -$18.3M in net income in fiscal year 2024. This represents a decrease of 21.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$1.5M

YoY+90.1%

GreenPower Mtr Co Inc generated -$1.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 90.1% from the prior year.

Cash & Debt

$1.2M

YoY+91.7%

5Y CAGR+42.1%

GreenPower Mtr Co Inc held $1.2M in cash against $4.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

25M

YoY+1.1%

GreenPower Mtr Co Inc had 25M shares outstanding in fiscal year 2024. This represents an increase of 1.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-46.7%

YoY-8.8pp

5Y CAGR+28.0pp

GreenPower Mtr Co Inc's net profit margin was -46.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.8 percentage points from the prior year.

Return on Equity

-158.6%

YoY-104.2pp

GreenPower Mtr Co Inc's ROE was -158.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 104.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$362K

YoY+1.6%

5Y CAGR+24.7%

GreenPower Mtr Co Inc invested $362K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1.6% from the prior year.

GP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$39.3M-1.1%	$39.7M+130.3%	$17.2M+29.7%	$13.3M-7.7%	$14.4M+136.7%	$6.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$377K+64.1%	$230K+1154.0%	$18K-53.5%	$39K-30.3%	$57K+124.7%	$25K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$18.3M-21.9%	-$15.0M-0.2%	-$15.0M-91.5%	-$7.8M-52.3%	-$5.1M-13.2%	-$4.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$7.2M+35.0%	$5.3M+78.4%	$3.0M-41.2%	$5.1M-37.6%	$8.2M-3.3%	$8.4M-52.0%	$17.6M	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$113K+35.0%	$84K-2.9%	$86K-3.7%	$90K-3.6%	$93K-2.9%	$96K-2.3%	$98K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$4.7M-0.8%	-$4.7M+12.7%	-$5.4M+18.7%	-$6.6M-42.9%	-$4.6M-9.0%	-$4.3M-51.4%	-$2.8M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$45.2M-28.8%	$63.5M+28.1%	$49.6M+25.2%	$39.6M+200.0%	$13.2M+10.9%	$11.9M
Current Assets	$36.9M-31.9%	$54.2M+25.7%	$43.1M+30.8%	$32.9M+305.5%	$8.1M+17.2%	$6.9M
Cash & Equivalents	$1.2M+91.7%	$600K-91.3%	$6.9M-54.7%	$15.2M+3267.5%	$452K+127.0%	$199K
Inventory	$32.0M-23.1%	$41.6M+29.0%	$32.3M+158.8%	$12.5M+89.1%	$6.6M+27.8%	$5.2M
Accounts Receivable	$1.3M-87.3%	$10.4M+256.8%	$2.9M-34.4%	$4.4M+371.2%	$944K-32.3%	$1.4M
Goodwill	N/A	$251K	N/A	N/A	N/A	N/A
Total Liabilities	$33.6M-6.2%	$35.9M+135.6%	$15.2M+339.1%	$3.5M-75.9%	$14.4M+19.9%	$12.0M
Current Liabilities	$21.3M-19.7%	$26.5M+130.2%	$11.5M+439.9%	$2.1M-71.1%	$7.4M+4.2%	$7.1M
Long-Term Debt	$4.0M-12.4%	$4.6M	$0-100.0%	$121K-68.8%	$387K-26.1%	$523K
Total Equity	$11.6M-58.2%	$27.7M-19.6%	$34.4M-4.9%	$36.2M+3176.9%	-$1.2M-1272.0%	-$86K
Retained Earnings	-$79.0M-30.0%	-$60.8M-31.1%	-$46.4M-46.6%	-$31.6M-32.6%	-$23.9M-27.5%	-$18.7M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$37.4M-5.1%	$39.4M-9.4%	$43.5M-3.8%	$45.2M-9.9%	$50.2M	N/A	N/A	$63.5M
Current Assets	$31.6M-4.7%	$33.2M-9.6%	$36.7M-0.3%	$36.9M-12.1%	$41.9M	N/A	N/A	$54.2M
Cash & Equivalents	$621K+431.3%	$117K-77.9%	$528K-54.1%	$1.2M-70.9%	$4.0M+99.3%	$2.0M+36.8%	$1.5M+141.9%	$600K
Inventory	$28.2M-11.2%	$31.7M-5.9%	$33.7M+5.4%	$32.0M-2.7%	$32.9M	N/A	N/A	$41.6M
Accounts Receivable	$1.0M-9.6%	$1.1M-10.0%	$1.3M-4.2%	$1.3M-66.3%	$3.9M	N/A	N/A	$10.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$251K
Total Liabilities	$35.2M0.0%	$35.2M+1.0%	$34.9M+3.7%	$33.6M+4.7%	$32.1M	N/A	N/A	$35.9M
Current Liabilities	$18.8M-18.7%	$23.1M+1.3%	$22.8M+7.2%	$21.3M-5.5%	$22.5M	N/A	N/A	$26.5M
Long-Term Debt	$3.7M-2.3%	$3.8M-2.9%	$3.9M-2.0%	$4.0M-2.8%	$4.1M	N/A	N/A	$4.6M
Total Equity	$2.1M-48.5%	$4.2M-51.7%	$8.6M-25.6%	$11.6M-35.9%	$18.1M-19.2%	$22.3M-14.7%	$26.2M-5.3%	$27.7M
Retained Earnings	-$93.6M-5.2%	-$89.0M-5.5%	-$84.3M-6.7%	-$79.0M-9.1%	-$72.5M	N/A	N/A	-$60.8M

GP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$1.1M+92.3%	-$14.8M+27.5%	-$20.3M-24.1%	-$16.4M-220.6%	-$5.1M+13.5%	-$5.9M
Capital Expenditures	$362K+1.6%	$356K-33.6%	$536K+52.0%	$353K+117.9%	$162K+34.8%	$120K
Free Cash Flow	-$1.5M+90.1%	-$15.1M+27.6%	-$20.9M-24.7%	-$16.7M-217.4%	-$5.3M+12.6%	-$6.0M
Investing Cash Flow	-$762K-351.2%	$303K+156.6%	-$536K-52.0%	-$353K-117.9%	-$162K-190.1%	$180K
Financing Cash Flow	$2.3M-71.6%	$8.2M-35.3%	$12.7M-59.8%	$31.5M+472.9%	$5.5M+10.9%	$5.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$1.1M+20.4%	-$1.3M+58.6%	-$3.2M+34.8%	-$4.9M-454.0%	$1.4M+126.0%	-$5.4M-169.0%	$7.8M+479.6%	-$2.0M
Capital Expenditures	$4K-87.7%	$30K-33.6%	$46K-34.7%	$70K-53.8%	$152K+41.9%	$107K+236.0%	$32K-76.1%	$134K
Free Cash Flow	-$1.1M+21.9%	-$1.4M+58.2%	-$3.3M+34.8%	-$5.0M-503.2%	$1.2M+122.7%	-$5.5M-170.7%	$7.7M+454.8%	-$2.2M
Investing Cash Flow	-$4K+87.7%	-$30K+33.6%	-$46K+34.7%	-$70K+87.3%	-$552K-415.1%	-$107K-236.0%	-$32K+76.1%	-$134K
Financing Cash Flow	$1.4M+61.0%	$892K-66.2%	$2.6M+47.6%	$1.8M+36.7%	$1.3M-78.5%	$6.1M+188.8%	-$6.9M-457.9%	$1.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-46.7%-8.8pp	-37.9%+49.2pp	-87.1%-28.1pp	-59.0%-23.2pp	-35.7%+39.0pp	-74.7%
Return on Equity	-158.6%-104.2pp	-54.4%-10.7pp	-43.6%-22.0pp	-21.7%	N/A	N/A
Return on Assets	-40.6%-16.9pp	-23.7%+6.6pp	-30.3%-10.5pp	-19.8%+19.2pp	-39.0%-0.8pp	-38.1%
Current Ratio	1.73-0.3	2.04-1.7	3.74-11.7	15.45+14.3	1.10+0.1	0.98
Debt-to-Equity	0.35+0.2	0.17+0.2	0.000.0	0.00+0.3	-0.33+5.8	-6.11
FCF Margin	-3.8%+34.3pp	-38.1%+83.1pp	-121.1%+4.9pp	-126.0%-89.4pp	-36.6%+62.6pp	-99.2%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-65.6%+22.3pp	-87.9%+91.9pp	-179.8%-49.6pp	-130.2%-73.3pp	-56.9%-6.5pp	-50.4%-34.5pp	-16.0%	N/A
Return on Equity	-221.6%-108.5pp	-113.2%-50.5pp	-62.7%-5.3pp	-57.3%-31.6pp	-25.7%-6.7pp	-19.1%-8.3pp	-10.7%	N/A
Return on Assets	-12.7%-0.7pp	-11.9%+0.5pp	-12.4%+2.3pp	-14.7%-5.4pp	-9.3%	N/A	N/A	N/A
Current Ratio	1.68+0.2	1.44-0.2	1.61-0.1	1.73-0.1	1.86	N/A	N/A	2.04
Debt-to-Equity	1.74+0.8	0.92+0.5	0.46+0.1	0.35+0.1	0.23	N/A	N/A	0.17
FCF Margin	-14.7%+10.7pp	-25.4%+83.3pp	-108.7%-10.6pp	-98.1%-113.3pp	15.2%+79.9pp	-64.7%-108.7pp	44.0%	N/A

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Frequently Asked Questions

What is GreenPower Mtr Co Inc's annual revenue?

GreenPower Mtr Co Inc (GP) reported $39.3M in total revenue for fiscal year 2024. This represents a -1.1% 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 GreenPower Mtr Co Inc's revenue growing?

GreenPower Mtr Co Inc (GP) revenue declined by 1.1% year-over-year, from $39.7M to $39.3M in fiscal year 2024.

Is GreenPower Mtr Co Inc profitable?

No, GreenPower Mtr Co Inc (GP) reported a net income of -$18.3M in fiscal year 2024, with a net profit margin of -46.7%.

How much debt does GreenPower Mtr Co Inc have?

As of fiscal year 2024, GreenPower Mtr Co Inc (GP) had $1.2M in cash and equivalents against $4.0M in long-term debt.

What is GreenPower Mtr Co Inc's net profit margin?

GreenPower Mtr Co Inc (GP) had a net profit margin of -46.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is GreenPower Mtr Co Inc's return on equity (ROE)?

GreenPower Mtr Co Inc (GP) has a return on equity of -158.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is GreenPower Mtr Co Inc's free cash flow?

GreenPower Mtr Co Inc (GP) generated -$1.5M in free cash flow during fiscal year 2024. This represents a 90.1% 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 GreenPower Mtr Co Inc's operating cash flow?

GreenPower Mtr Co Inc (GP) generated -$1.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are GreenPower Mtr Co Inc's total assets?

GreenPower Mtr Co Inc (GP) had $45.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are GreenPower Mtr Co Inc's capital expenditures?

GreenPower Mtr Co Inc (GP) invested $362K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does GreenPower Mtr Co Inc have outstanding?

GreenPower Mtr Co Inc (GP) had 25M shares outstanding as of fiscal year 2024.

What is GreenPower Mtr Co Inc's current ratio?

GreenPower Mtr Co Inc (GP) had a current ratio of 1.73 as of fiscal year 2024, which is generally considered healthy.

What is GreenPower Mtr Co Inc's debt-to-equity ratio?

GreenPower Mtr Co Inc (GP) had a debt-to-equity ratio of 0.35 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is GreenPower Mtr Co Inc's return on assets (ROA)?

GreenPower Mtr Co Inc (GP) had a return on assets of -40.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is GreenPower Mtr Co Inc's cash runway?

Based on fiscal year 2024 data, GreenPower Mtr Co Inc (GP) had $1.2M in cash against an annual operating cash burn of $1.1M. This gives an estimated cash runway of approximately 12 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is GreenPower Mtr Co Inc's Piotroski F-Score?

GreenPower Mtr Co Inc (GP) has a Piotroski F-Score of 2 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 GreenPower Mtr Co Inc's earnings high quality?

GreenPower Mtr Co Inc (GP) has an earnings quality ratio of 0.06x, considered low quality (accrual-driven). 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.