Gulf Resource Financials
This page shows Gulf Resource (GURE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Gulf Resource has an operating margin of -277.8%, meaning the company retains $-278 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -39.6% the prior year.
Gulf Resource's revenue declined 74.5% year-over-year, from $30.0M to $7.7M. This contraction results in a growth score of 0/100.
Gulf Resource carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Gulf Resource's current ratio of 0.98 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.
While Gulf Resource generated $675K in operating cash flow, capex of $60.5M consumed most of it, leaving -$59.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Gulf Resource passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Gulf Resource generates $-0.01 in operating cash flow ($675K OCF vs -$58.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Gulf Resource earns $-231.6 in operating income for every $1 of interest expense (-$21.3M vs $92K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Gulf Resource generated $7.7M in revenue in fiscal year 2024. This represents a decrease of 74.5% from the prior year.
Gulf Resource's EBITDA was -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 121.5% from the prior year.
Gulf Resource generated -$59.9M in free cash flow in fiscal year 2024, representing cash available after capex.
Gulf Resource reported -$58.9M in net income in fiscal year 2024. This represents an increase of 4.6% from the prior year.
Gulf Resource held $10.1M in cash against $0 in long-term debt as of fiscal year 2024.
Gulf Resource had 11M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Gulf Resource's operating margin was -277.8% in fiscal year 2024, reflecting core business profitability. This is down 238.2 percentage points from the prior year.
Gulf Resource's net profit margin was -769.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 563.6 percentage points from the prior year.
Gulf Resource invested $60.5M in capex in fiscal year 2024, funding long-term assets and infrastructure.
GURE Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.0M+8.4% | $8.3M+420.0% | $1.6M-7.2% | $1.7M-22.9% | $2.2M-5.9% | $2.4M+82.3% | $1.3M-81.0% | $6.9M |
| Cost of Revenue | $21.9M-3.0% | $22.6M+20.5% | $18.7M | $0-100.0% | $2.4M-53.0% | $5.1M+141.2% | $2.1M-72.2% | $7.6M |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $31K-4.8% | $33K+5.8% | $31K-12.2% | $35K+5.6% | $33K-39.1% | $54K+207.8% | $18K-31.8% | $26K |
| SG&A Expenses | $786K-21.0% | $995K-28.4% | $1.4M-51.4% | $2.9M+185.4% | $1.0M+45.3% | $690K-3.8% | $717K-63.7% | $2.0M |
| Operating Income | -$334K+55.5% | -$751K+83.7% | -$4.6M+26.7% | -$6.3M-37.2% | -$4.6M+11.0% | -$5.1M+2.3% | -$5.3M+33.1% | -$7.9M |
| Interest Expense | $18K-16.1% | $22K-0.2% | $22K+3.1% | $21K-0.6% | $21K-14.6% | $25K-0.1% | $25K+3.9% | $24K |
| Income Tax | $1.7M-10.4% | $1.9M | $0-100.0% | $5.2M+573.9% | -$1.1M+8.6% | -$1.2M+4.9% | -$1.3M-128.8% | $4.4M |
| Net Income | -$35.7M-4509.1% | -$774K+83.3% | -$4.6M+74.8% | -$18.4M-425.4% | -$3.5M+89.4% | -$33.1M-729.1% | -$4.0M+93.2% | -$58.8M |
| EPS (Diluted) | $0.13 | $0.14+27.3% | $0.11 | N/A | $0.21+1150.0% | $-0.02+96.2% | $-0.52 | N/A |
GURE Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $131.9M-19.9% | $164.6M-0.7% | $165.7M-2.2% | $169.5M-12.6% | $193.9M0.0% | $193.9M-12.6% | $221.8M-2.1% | $226.7M |
| Current Assets | $15.7M-22.7% | $20.3M+15.0% | $17.6M+1.1% | $17.5M-17.9% | $21.3M+2.2% | $20.8M-75.6% | $85.1M-1.1% | $86.1M |
| Cash & Equivalents | $5.8M-24.8% | $7.7M-9.2% | $8.5M-15.4% | $10.1M-10.3% | $11.2M+8.4% | $10.4M-85.3% | $70.8M-2.0% | $72.2M |
| Inventory | $483K-6.3% | $515K+13.2% | $455K+44.3% | $315K-26.3% | $428K+3.4% | $414K-34.8% | $634K+9.9% | $577K |
| Accounts Receivable | $3.4M+8.6% | $3.2M+49.0% | $2.1M+274.5% | $565K-52.4% | $1.2M-31.6% | $1.7M-67.0% | $5.3M+8.1% | $4.9M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $29.4M |
| Total Liabilities | $24.4M+9.1% | $22.4M-3.1% | $23.1M-10.1% | $25.7M-5.9% | $27.4M+1.3% | $27.0M+28.8% | $21.0M-2.1% | $21.4M |
| Current Liabilities | $17.1M+15.7% | $14.8M-3.1% | $15.3M-14.0% | $17.7M-7.7% | $19.2M+1.0% | $19.0M+55.1% | $12.3M-2.6% | $12.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $107.5M-24.4% | $142.2M-0.3% | $142.6M-0.8% | $143.7M-13.7% | $166.5M-0.2% | $166.9M-16.9% | $200.9M-2.1% | $205.2M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GURE Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.7M+1300.4% | -$559K+64.6% | -$1.6M-263.1% | $969K+86.7% | $519K+0.1% | $518K+139.0% | -$1.3M+96.9% | -$42.6M |
| Capital Expenditures | $6.4M | $0-100.0% | $40K | $0 | $0-100.0% | $9.0M+255.0% | $2.5M-85.4% | $17.3M |
| Free Cash Flow | $3.0M-71.3% | $10.3M-19.5% | $12.8M+1219.6% | $969K+86.7% | $519K+103.4% | -$15.5M-454.3% | -$2.8M-112.7% | $22.0M |
| Investing Cash Flow | -$6.5M-2192.2% | -$282K+19.5% | -$351K-1287.2% | -$25K | $0+100.0% | -$9.0M-255.0% | -$2.5M+90.6% | -$26.9M |
| Financing Cash Flow | $0+100.0% | -$305K | $0-100.0% | $15K | $0 | N/A | N/A | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
GURE Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | 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 | -3.7%+5.3pp | -9.0%+278.3pp | -287.3%+76.3pp | -363.7%-159.3pp | -204.3%+11.6pp | -216.0%+187.2pp | -403.2%-288.5pp | -114.7% |
| Net Margin | -394.3%-385.1pp | -9.3%+279.3pp | -288.5%+773.3pp | -1061.8%-906.0pp | -155.8%+1233.0pp | -1388.8%-1083.4pp | -305.4%+550.1pp | -855.6% |
| Return on Equity | 1.6%-0.2pp | 1.9%+0.4pp | 1.5%-0.4pp | 1.9%-0.9pp | 2.8%+0.9pp | 1.9%+1.2pp | 0.7% | N/A |
| Return on Assets | -27.0%-26.6pp | -0.5%+2.3pp | -2.8%+8.0pp | -10.8%-9.0pp | -1.8%+15.3pp | -17.1%-15.3pp | -1.8%+24.1pp | -25.9% |
| Current Ratio | 0.92-0.5 | 1.37+0.2 | 1.16+0.2 | 0.98-0.1 | 1.11+0.0 | 1.09-5.8 | 6.94+0.1 | 6.84 |
| Debt-to-Equity | 0.23+0.1 | 0.160.0 | 0.16-0.0 | 0.18+0.0 | 0.160.0 | 0.16+0.1 | 0.100.0 | 0.10 |
| FCF Margin | 9.5%-22.9pp | 32.4%-17.6pp | 49.9%-6.1pp | 56.0%+32.9pp | 23.1%+280.7pp | -257.5%+6980.8pp | -7238.4%-7891.6pp | 653.3% |
Note: The current ratio is below 1.0 (0.98), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Gulf Resource's annual revenue?
Gulf Resource (GURE) reported $7.7M in total revenue for fiscal year 2024. This represents a -74.5% 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 Gulf Resource's revenue growing?
Gulf Resource (GURE) revenue declined by 74.5% year-over-year, from $30.0M to $7.7M in fiscal year 2024.
Is Gulf Resource profitable?
No, Gulf Resource (GURE) reported a net income of -$58.9M in fiscal year 2024, with a net profit margin of -769.3%.
What is Gulf Resource's EBITDA?
Gulf Resource (GURE) had EBITDA of -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Gulf Resource's operating margin?
Gulf Resource (GURE) had an operating margin of -277.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Gulf Resource's net profit margin?
Gulf Resource (GURE) had a net profit margin of -769.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Gulf Resource's free cash flow?
Gulf Resource (GURE) generated -$59.9M in free cash flow during fiscal year 2024. 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 Gulf Resource's operating cash flow?
Gulf Resource (GURE) generated $675K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Gulf Resource's total assets?
Gulf Resource (GURE) had $169.5M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Gulf Resource's capital expenditures?
Gulf Resource (GURE) invested $60.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Gulf Resource have outstanding?
Gulf Resource (GURE) had 11M shares outstanding as of fiscal year 2024.
What is Gulf Resource's current ratio?
Gulf Resource (GURE) had a current ratio of 0.98 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Gulf Resource's debt-to-equity ratio?
Gulf Resource (GURE) had a debt-to-equity ratio of 0.18 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Gulf Resource's return on assets (ROA)?
Gulf Resource (GURE) had a return on assets of -34.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Gulf Resource's Piotroski F-Score?
Gulf Resource (GURE) has a Piotroski F-Score of 3 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Gulf Resource's earnings high quality?
Gulf Resource (GURE) has an earnings quality ratio of -0.01x, considered mixed quality. 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 Gulf Resource cover its interest payments?
Gulf Resource (GURE) has an interest coverage ratio of -231.6x, meaning it can struggle to cover its interest obligations. 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 Gulf Resource?
Gulf Resource (GURE) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.