Happy City Holdings (HCHL) Financials
Newest figures come from the 20-F for FY2025, filed Jan 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HCHL SEC filings page.
Happy City Holdings Limited (HCHL) reported $6.8M in revenue for fiscal year 2025, down 18.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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 (20-F and 6-K reports).
The business can swing from profit to loss without a comparable sales collapse, leaving FY2025 weaker in margins and internally generated cash.
Revenue in FY2025 was almost back to FY2023 levels, while gross margin fell to12.6% from27.3% ; the earnings swing therefore reflects sharply different economics, not simply a smaller sales base. The parallel shift from FY2024 positive operating cash flow to FY2025 negative operating cash flow shows that the margin deterioration also reached cash generation.
Debt-to-equity fell to 1.4x in FY2025 from 5.8x in FY2024. Yet the current ratio was only 0.8x, so balance-sheet repair improved long-term leverage without restoring short-term coverage.
FY2025 financing cash flow was positive
Financial Health Signals
Scored against operating 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 Happy City Holdings Limited'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.
Happy City Holdings Limited has an operating margin of -33.5%, meaning the company loses $33 on every $100 of revenue. This results in a profitability score of 16/100. This is down from 15.8% the prior year.
Happy City Holdings Limited's revenue declined 18.0% year-over-year, from $8.3M to $6.8M. This contraction results in a growth score of 32/100.
Happy City Holdings Limited has a moderate D/E ratio of 1.43. This balance of debt and equity financing earns a leverage score of 38/100.
Happy City Holdings Limited's current ratio of 0.83 is below the typical benchmark, resulting in a score of 13/100. However, the company holds substantial cash reserves (67% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Happy City Holdings Limited's operations used $1.3M of cash, and capex of $908K added to the outflow, for a free cash flow shortfall of $2.2M. This results in a cash flow score of 10/100.
Happy City Holdings Limited posts a -110.1% return on equity (ROE), meaning it loses $110 for every $100 of shareholders' equity. This results in a returns score of 11/100. This is down from 219.2% the prior year.
Happy City Holdings Limited passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Happy City Holdings Limited reported a net loss of $2.4M while operations used $1.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Happy City Holdings Limited reported an operating loss of $2.3M against $229K 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
Happy City Holdings Limited generated $6.8M in revenue in fiscal year 2025. This represents a decrease of 18.0% from the prior year.
Happy City Holdings Limited's EBITDA was -$1.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 188.4% from the prior year.
Happy City Holdings Limited reported a net loss of $2.4M in fiscal year 2025. This represents a decrease of 284.1% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Happy City Holdings Limited recorded an outflow of $2.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 541.0% from the prior year.
Happy City Holdings Limited held $3.4M in cash against $3.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Happy City Holdings Limited's gross margin was 12.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 14.7 percentage points from the prior year.
Happy City Holdings Limited's operating margin was -33.5% in fiscal year 2025, reflecting core business profitability. This is down 49.3 percentage points from the prior year.
Happy City Holdings Limited's net profit margin was -35.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 51.6 percentage points from the prior year.
Happy City Holdings Limited's ROE was -110.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 329.3 percentage points from the prior year.
Capital Allocation
Happy City Holdings Limited invested $908K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 17.7% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
HCHL 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 | FY2420-F | FY2320-F |
|---|---|---|---|
| Revenue | $6.8M-18.0% | $8.3M+22.8% | $6.8M |
| Cost of Revenue | $5.9M-1.5% | $6.0M+0.8% | $6.0M |
| Gross Profit | $857K-62.1% | $2.3M+193.8% | $770K |
| Operating Income | -$2.3M-273.5% | $1.3Mn/m | -$992K |
| EBITDA | -$1.7M-188.4% | $1.9Mn/m | -$581K |
| Interest Expense | $229K+25.5% | $182K+9.1% | $167K |
| Income Tax | -$24Kn/m | -$4K-106.4% | $61K |
| Net Income | -$2.4M-284.1% | $1.3Mn/m | -$1.1M |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
HCHL 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 | FY2420-F | FY2320-F |
|---|---|---|---|
| Total Assets | $8.0M+15.0% | $7.0M | N/A |
| Current Assets | $4.2M+32.5% | $3.1M | N/A |
| Cash & Equivalents | $3.4M+14.8% | $2.9M+1489.3% | $185K |
| Short-Term Investments | $317Kn/m | $0n/m | $0 |
| Inventory | $35K-7.8% | $38K | N/A |
| Accounts Receivable | $32K-10.4% | $35K | N/A |
| Long-Term Investments | N/A | $0n/m | $0 |
| Total Liabilities | $5.8M-8.8% | $6.4M | N/A |
| Current Liabilities | $5.0M-9.8% | $5.5M | N/A |
| Non-Current Liabilities | $820K-2.1% | $838K | N/A |
| Long-Term Debt | $3.2M-9.2% | $3.5M | N/A |
| Total Equity | $2.2M+266.5% | $602Kn/m | -$1.5M |
| Retained Earnings | -$2.6Mn/m | -$145K | N/A |
Not reported in any period shown, so not listed: Goodwill.
HCHL 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 | FY2420-F | FY2320-F |
|---|---|---|---|
| Operating Cash Flow | -$1.3M-200.2% | $1.3Mn/m | -$676K |
| Depreciation & Amortization | $607K+5.7% | $575K+39.8% | $411K |
| Capital Expenditures | $908K+17.7% | $772K+7984.4% | $10K |
| Free Cash Flow | -$2.2M-541.0% | $493Kn/m | -$686K |
| Investing Cash Flow | -$1.2Mn/m | -$772Kn/m | -$10K |
| Financing Cash Flow | $2.9M+28.3% | $2.3M+475.7% | $392K |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
HCHL 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 | FY2420-F | FY2320-F |
|---|---|---|---|
| Gross Margin | 12.6%-14.7pp | 27.3%+15.9pp | 11.4% |
| Operating Margin | -33.5%-49.3pp | 15.8%+30.5pp | -14.7% |
| Net Margin | -35.7%-51.6pp | 15.9%+32.0pp | -16.1% |
| Return on Equity | -110.1%-329.3pp | 219.2% | N/A |
| Return on Assets | -30.3%-49.2pp | 18.9% | N/A |
| Current Ratio | 0.83+0.3x | 0.57 | N/A |
| Debt-to-Equity | 1.43-4.3x | 5.78 | N/A |
| Liabilities-to-Equity | 2.63-7.9x | 10.58 | N/A |
| Asset Turnover | 0.85-0.3x | 1.19 | N/A |
| FCF Margin | -32.0%-37.9pp | 5.9%+16.1pp | -10.2% |
Note: The current ratio is below 1.0 (0.83), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Happy City Holdings Limited HCHL | FY2025 | $6.8M | -$2.4M | -35.7% | N/A | 20/100 |
| MasterBeef Group MB | FY2025 | $59.0M | -$6.7M | -11.4% | $62.8M | 31/100 |
| CCH Holdings Ltd CCHH | FY2025 | $9.6M | -$2.7M | -28.0% | $14.5M | 31/100 |
| Darden Restaurants, Inc. DRI | FY2026 | $13.2B | $1.2B | 9.1% | $25.9B | 57/100 |
| Flanigan's Enterprises Inc BDL | FY2025 | $205.2M | $5.0M | 2.5% | $113.2M | 58/100 |
| TH International Limited THCH | FY2025 | $188.2M | -$62.1M | -33.0% | $44.9M | 53/100 |
Where Happy City Holdings Limited Ranks
Frequently Asked Questions
Happy City Holdings Limited (HCHL) reported $6.8M in total revenue for fiscal year 2025. This represents a -18.0% 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.
Happy City Holdings Limited (HCHL) revenue declined by 18.0% year-over-year, from $8.3M to $6.8M in fiscal year 2025.
No, Happy City Holdings Limited (HCHL) reported a net loss of $2.4M in fiscal year 2025, with a net profit margin of -35.7%.
Happy City Holdings Limited (HCHL) had EBITDA of -$1.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Happy City Holdings Limited (HCHL) had $3.4M in cash and equivalents against $3.2M in long-term debt.
Happy City Holdings Limited (HCHL) had a gross margin of 12.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Happy City Holdings Limited (HCHL) had an operating margin of -33.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Happy City Holdings Limited (HCHL) had a net profit margin of -35.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Happy City Holdings Limited (HCHL) has a return on equity of -110.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Happy City Holdings Limited (HCHL) recorded an outflow of $2.2M in free cash flow during fiscal year 2025. This represents a -541.0% 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.
Happy City Holdings Limited (HCHL) recorded an outflow of $1.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Happy City Holdings Limited (HCHL) had $8.0M in total assets as of fiscal year 2025, including both current and long-term assets.
Happy City Holdings Limited (HCHL) invested $908K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Happy City Holdings Limited (HCHL) had a current ratio of 0.83 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Happy City Holdings Limited (HCHL) had a debt-to-equity ratio of 1.43 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Happy City Holdings Limited (HCHL) had a liabilities-to-equity ratio of 2.63 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.
Happy City Holdings Limited (HCHL) had a return on assets of -30.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Happy City Holdings Limited (HCHL) has a Piotroski F-Score of 3 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.
Happy City Holdings Limited (HCHL) reported a net loss of $2.4M 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.
Happy City Holdings Limited (HCHL) reported an operating loss of $2.3M against $229K 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.
Happy City Holdings Limited (HCHL) scores 20 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average 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.