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).
Liquidity is tightening faster than leverage as capital spending keeps outrunning a shrinking operating base.
The non-obvious shift is from solvency comfort to near-term funding strain: FY2024 liabilities were only$25.7M against assets of$169.5M , so this is not a debt-loaded balance sheet. Current assets no longer covered current liabilities because capital spending of$60.5M dwarfed operating cash flow of$675K , meaning liquidity was consumed mainly by self-funded investment during an operating slump rather than by lenders or interest costs.
Revenue collapse created brutal operating deleverage: sales fell from
The reported loss overstates the immediate cash drain from operations because FY2024 operating cash flow was still
Financial Health Signals
Scored against emerging companies for FY2024. 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 Gulf Resource'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.
Gulf Resource passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 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
Earnings & Revenue
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 reported -$58.9M in net income in fiscal year 2024. This represents an increase of 4.6% from the prior year.
Cash & Balance Sheet
Gulf Resource generated -$59.9M in free cash flow in fiscal year 2024, representing cash available after capex.
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.
Margins & Returns
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's ROE was -41.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 10.9 percentage points from the prior year.
Capital Allocation
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 | Q4'24 | 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 | N/A | N/A | N/A | N/A | N/A | $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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | N/A | N/A | $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) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GURE Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | 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 | N/A | N/A |
| 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 | Q4'24 | 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 | N/A | N/A | N/A | $0 | $0 | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | $969K+86.7% | $519K | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | -$25K | $0 | N/A | N/A | N/A |
| Financing Cash Flow | $0 | N/A | N/A | $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 | N/A | N/A | N/A | N/A | N/A | N/A |
GURE Financial Ratios
| 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 | -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 | -33.2%-32.6pp | -0.5%+2.7pp | -3.3%+9.5pp | -12.8%-10.7pp | -2.1%+17.7pp | -19.8%-17.8pp | -2.0%+26.6pp | -28.6% |
| 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 | N/A | N/A | N/A | 56.0%+32.9pp | 23.1% | N/A | N/A | N/A |
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 return on equity (ROE)?
Gulf Resource (GURE) has a return on equity of -41.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
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.
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 7 computable signals; 2 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 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 35 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.