What is Hongchang International's earnings per share (EPS)?

Hongchang International (HCIL) reported diluted earnings per share of $0.00 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Hongchang International Financials

HCIL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Hongchang International (HCIL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 HCIL FY2024 2026-04-22

Asset buildout still outruns operating scale, leaving the business externally financed despite slightly better unit economics in FY2024.

FY2023’s balance-sheet expansion was financed externally: capex of $40.6M was almost fully matched by financing inflow of $40.9M. In FY2024, cash generation reversed as operating cash flow fell to -$7.3M and the current ratio compressed to 1.2x, showing the larger asset base is still consuming liquidity rather than funding itself.

With revenue of $2.9M against assets of $57.5M, the company is running a very low asset-turnover model, so the key operating question is asset utilization rather than headline sales growth. The improvement in gross margin helps, but it has not yet translated into a self-supporting operating structure.

FY2024’s net loss of -$472K understates the strain on the business because free cash flow was -$11.4M, meaning losses came with continued reinvestment and working-capital use rather than mostly non-cash charges. That makes liquidity management more informative than accounting earnings alone.

Financial Health Signals

Financial Profile 38/100

Based on FY2024 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Hongchang International'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.

Profitability

Hongchang International has an operating margin of -13.4%, meaning the company retains $-13 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 up from -17.5% the prior year.

Growth

100

Hongchang International's revenue grew 7.1% year-over-year to $2.9M, a solid pace of expansion. This earns a growth score of 100/100.

Leverage

Hongchang International carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Hongchang International's current ratio of 1.21 is below the typical benchmark, resulting in a score of 19/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Hongchang International generated -$7.3M in operating cash flow, capex of $4.0M consumed most of it, leaving -$11.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Hongchang International generates a -1.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 9/100. This is down from -0.9% the prior year.

Piotroski F-Score Weak

2/9

Hongchang International passes 2 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

15.53x

For every $1 of reported earnings, Hongchang International generates $15.53 in operating cash flow (-$7.3M OCF vs -$472K 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

$2.9M

YoY+7.1%

5Y CAGR+77.3%

10Y CAGR-8.0%

Hongchang International generated $2.9M in revenue in fiscal year 2024. This represents an increase of 7.1% from the prior year.

EBITDA

-$293K

YoY+23.2%

Hongchang International's EBITDA was -$293K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 23.2% from the prior year.

Net Income

-$472K

YoY-24.7%

Hongchang International reported -$472K in net income in fiscal year 2024. This represents a decrease of 24.7% from the prior year.

EPS (Diluted)

$0.00

Hongchang International earned $0.00 per diluted share (EPS) in fiscal year 2024.

Cash & Balance Sheet

Free Cash Flow

-$11.4M

YoY+71.5%

Hongchang International generated -$11.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 71.5% from the prior year.

Cash & Debt

$241K

YoY-73.1%

5Y CAGR+20.3%

10Y CAGR-8.9%

Hongchang International held $241K in cash against $6.6M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

519M

YoY+0.0%

5Y CAGR-12.9%

Hongchang International had 519M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

6.3%

YoY+3.8pp

5Y CAGR-42.6pp

10Y CAGR-19.8pp

Hongchang International's gross margin was 6.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 3.8 percentage points from the prior year.

Operating Margin

-13.4%

YoY+4.2pp

5Y CAGR+315.4pp

10Y CAGR-5.6pp

Hongchang International's operating margin was -13.4% in fiscal year 2024, reflecting core business profitability. This is up 4.2 percentage points from the prior year.

Net Margin

-16.5%

YoY-2.3pp

5Y CAGR+281.9pp

10Y CAGR-8.9pp

Hongchang International's net profit margin was -16.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 2.3 percentage points from the prior year.

Return on Equity

-1.2%

YoY-0.3pp

10Y CAGR+12.3pp

Hongchang International's ROE was -1.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$4.0M

YoY-90.1%

10Y CAGR+82.8%

Hongchang International invested $4.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 90.1% from the prior year.

HCIL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.9M+7.1%	$2.7M+3289.1%	$79K-18.2%	$96K-56.7%	$223K+36.1%	$164K
Cost of Revenue	$2.7M+3.0%	$2.6M+9417.7%	$27K-9.7%	$30K-74.4%	$119K+41.8%	$84K
Gross Profit	$182K+161.9%	$69K+34.5%	$52K-22.1%	$66K-36.5%	$104K+30.1%	$80K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$561K+4.0%	$539K+124.5%	$240K	N/A	N/A	N/A
Operating Income	-$383K+18.4%	-$470K-95.7%	-$240K-47.4%	-$163K+41.6%	-$279K+48.2%	-$538K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$22K+66.2%	-$66K	N/A	N/A	N/A	N/A
Net Income	-$472K-24.7%	-$379K-57.8%	-$240K-47.2%	-$163K+70.3%	-$548K-12.3%	-$488K
EPS (Diluted)	$0.00	$0.00	$0.00	$0.00	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$4.0M+15.8%	$3.5M-9.7%	$3.8M-44.3%	$6.9M+14768.3%	$46K-94.3%	$821K-58.6%	$2.0M+10787.2%	$18K
Cost of Revenue	$3.3M+15.2%	$2.9M-11.4%	$3.2M-36.5%	$5.1M+32381.3%	$16K-98.0%	$770K-59.1%	$1.9M+10092.0%	$18K
Gross Profit	$719K+18.4%	$607K-1.1%	$614K-66.1%	$1.8M+5797.6%	$31K-38.7%	$50K-49.2%	$99K+36259.3%	-$273
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$377K+7.0%	$352K+361.9%	$76K-60.3%	$192K-18.2%	$235K+131.2%	$101K-17.2%	$123K+20.2%	$102K
Operating Income	$341K+35.1%	$252K-53.1%	$537K-66.8%	$1.6M+884.3%	-$207K-292.2%	-$53K-119.4%	-$24K+76.5%	-$102K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$23K-45.8%	$43K+43.6%	$30K-80.5%	$153K+1523.8%	-$11K-97.8%	-$5K-639.6%	-$733+86.5%	-$5K
Net Income	$304K+53.5%	$198K-60.3%	$500K-66.7%	$1.5M+585.1%	-$309K-406.7%	-$61K+5.8%	-$65K+32.9%	-$97K
EPS (Diluted)	$0.00	$0.00	$0.00	$0.00+100.0%	$-0.00	$0.00	$0.00	$0.00

HCIL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$57.5M+14.4%	$50.2M+60.8%	$31.2M+33291.7%	$94K-51.9%	$194K-77.2%	$852K
Current Assets	$8.1M+105.2%	$4.0M+4671.1%	$83K+122.1%	$37K-37.7%	$60K-90.8%	$649K
Cash & Equivalents	$241K-73.1%	$896K+28417.4%	$3K-27.3%	$4K-21.2%	$5K-94.3%	$96K
Inventory	N/A	$14K	N/A	N/A	N/A	$422K
Accounts Receivable	$53K-92.9%	$743K	N/A	N/A	$1K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$18.7M+92.0%	$9.7M-69.3%	$31.7M+10918.3%	$287K-81.9%	$1.6M-1.9%	$1.6M
Current Liabilities	$6.7M+534.2%	$1.1M-95.8%	$25.3M	N/A	N/A	$1.4M
Long-Term Debt	$6.6M	N/A	N/A	N/A	N/A	N/A
Total Equity	$38.8M-4.2%	$40.5M+9771.0%	-$419K-116.1%	-$194K+86.1%	-$1.4M-95.0%	-$716K
Retained Earnings	-$1.3M-59.0%	-$813K-87.3%	-$434K+97.8%	-$19.6M-0.8%	-$19.5M-2.9%	-$18.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$65.9M+6.7%	$61.7M+4.8%	$58.9M-1.0%	$59.5M+3.6%	$57.5M-7.5%	$62.1M+10.5%	$56.2M+5.2%	$53.5M
Current Assets	$8.2M+51.2%	$5.4M+64.2%	$3.3M-16.1%	$3.9M-51.6%	$8.1M+85.8%	$4.4M-13.4%	$5.1M+148.3%	$2.0M
Cash & Equivalents	$552K+1598.9%	$32K-35.1%	$50K-89.9%	$493K+105.0%	$241K-21.6%	$307K-3.3%	$317K-64.5%	$895K
Inventory	$50K+25.6%	$39K+34.3%	$29K-18.9%	$36K	N/A	$1.9M+4.2%	$1.8M+1085687.2%	$164
Accounts Receivable	$5.9M+65.0%	$3.5M+154.7%	$1.4M-38.9%	$2.3M+4239.6%	$53K-82.0%	$291K-71.8%	$1.0M+23527.6%	$4K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$22.2M+15.9%	$19.1M+13.8%	$16.8M-8.9%	$18.5M-1.2%	$18.7M-12.7%	$21.4M+26.5%	$16.9M+21.9%	$13.9M
Current Liabilities	$9.7M+42.4%	$6.8M+42.1%	$4.8M-25.8%	$6.4M-3.6%	$6.7M+1133.6%	$542K-37.4%	$866K+149.5%	$347K
Long-Term Debt	$6.9M+1.0%	$6.8M+4.2%	$6.5M-0.5%	$6.6M-0.1%	$6.6M+1.8%	$6.4M+9.0%	$5.9M-0.6%	$6.0M
Total Equity	$42.3M+2.1%	$41.4M+0.8%	$41.1M+2.1%	$40.3M+3.9%	$38.8M-4.6%	$40.7M+3.5%	$39.3M-0.8%	$39.6M
Retained Earnings	$389K+22.7%	$317K+14.0%	$278K+977.8%	-$32K+97.5%	-$1.3M-24.8%	-$1.0M-6.3%	-$974K-7.1%	-$909K

HCIL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$7.3M-1077.7%	$751K+432.4%	-$226K-60.0%	-$141K-546.0%	-$22K+96.0%	-$547K
Capital Expenditures	$4.0M-90.1%	$40.6M	N/A	N/A	N/A	N/A
Free Cash Flow	-$11.4M+71.5%	-$39.8M	N/A	N/A	N/A	N/A
Investing Cash Flow	-$3.5M+91.6%	-$41.7M-2579.6%	-$1.6M	N/A	N/A	N/A
Financing Cash Flow	$10.2M-75.1%	$40.9M+2197.6%	$1.8M+997.2%	$162K+362.2%	$35K-94.1%	$595K
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	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$316K-230.8%	-$96K+58.4%	-$230K-108.2%	$2.8M+159.8%	-$4.7M-1239.0%	$409K+113.2%	-$3.1M-31944.0%	$10K
Capital Expenditures	$305K-26.6%	$416K+206.9%	$136K-2.8%	$139K+102.0%	-$6.8M-247.1%	$4.6M+6056.0%	$75K	N/A
Free Cash Flow	-$621K-21.4%	-$512K-40.0%	-$365K-113.8%	$2.6M+123.0%	-$11.5M-171.4%	-$4.2M-33.6%	-$3.2M	N/A
Investing Cash Flow	-$305K+26.6%	-$416K-206.9%	-$136K-112.6%	$1.1M-82.8%	$6.3M+234.9%	-$4.6M-6053.0%	-$75K+98.5%	-$5.0M
Financing Cash Flow	$1.1M+127.6%	$495K+719.3%	-$80K+97.7%	-$3.4M-105.1%	-$1.7M-139.4%	$4.2M+60.0%	$2.6M-47.9%	$5.1M
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

HCIL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	6.3%+3.8pp	2.6%-62.7pp	65.3%-3.3pp	68.6%+21.8pp	46.8%-2.2pp	48.9%
Operating Margin	-13.4%+4.2pp	-17.5%+286.4pp	-304.0%-135.2pp	-168.8%-43.6pp	-125.2%+203.6pp	-328.8%
Net Margin	-16.5%-2.3pp	-14.2%+289.8pp	-304.0%-135.0pp	-169.0%+77.3pp	-246.3%+52.1pp	-298.4%
Return on Equity	-1.2%-0.3pp	-0.9%	N/A	N/A	N/A	N/A
Return on Assets	-0.8%-0.1pp	-0.8%+0.0pp	-0.8%+173.5pp	-174.3%+108.0pp	-282.3%-225.0pp	-57.3%
Current Ratio	1.21-2.5	3.75+3.8	0.00	N/A	N/A	0.45
Debt-to-Equity	0.17-0.1	0.24+75.9	-75.61-74.1	-1.48-0.3	-1.14+1.1	-2.26
FCF Margin	-396.2%+1092.9pp	-1489.1%	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	17.9%+0.4pp	17.5%+1.5pp	16.0%-10.3pp	26.3%-40.0pp	66.3%+60.1pp	6.1%+1.1pp	5.0%+6.5pp	-1.5%
Operating Margin	8.5%+1.2pp	7.3%-6.7pp	14.0%-9.5pp	23.5%+469.0pp	-445.5%-439.1pp	-6.4%-5.2pp	-1.2%+560.8pp	-562.0%
Net Margin	7.6%+1.9pp	5.7%-7.3pp	13.0%-8.8pp	21.8%+688.7pp	-666.9%-659.5pp	-7.4%-4.2pp	-3.3%+527.2pp	-530.5%
Return on Equity	0.7%+0.2pp	0.5%-0.7pp	1.2%-2.5pp	3.7%+4.5pp	-0.8%-0.7pp	-0.1%+0.0pp	-0.2%+0.1pp	-0.2%
Return on Assets	0.5%+0.1pp	0.3%-0.5pp	0.9%-1.7pp	2.5%+3.1pp	-0.5%-0.4pp	-0.1%+0.0pp	-0.1%+0.1pp	-0.2%
Current Ratio	0.85+0.0	0.80+0.1	0.69+0.1	0.61-0.6	1.21-6.8	8.06+2.2	5.83-0.0	5.86
Debt-to-Equity	0.160.0	0.160.0	0.160.0	0.160.0	0.17+0.0	0.160.0	0.150.0	0.15
FCF Margin	-15.5%-0.7pp	-14.7%-5.2pp	-9.5%-47.9pp	38.4%+24818.5pp	-24780.1%-24263.9pp	-516.2%-356.2pp	-159.9%	N/A

Frequently Asked Questions

What is Hongchang International's annual revenue?

Hongchang International (HCIL) reported $2.9M in total revenue for fiscal year 2024. This represents a 7.1% 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 Hongchang International's revenue growing?

Hongchang International (HCIL) revenue grew by 7.1% year-over-year, from $2.7M to $2.9M in fiscal year 2024.

Is Hongchang International profitable?

No, Hongchang International (HCIL) reported a net income of -$472K in fiscal year 2024, with a net profit margin of -16.5%.

What is Hongchang International's EBITDA?

Hongchang International (HCIL) had EBITDA of -$293K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Hongchang International have?

As of fiscal year 2024, Hongchang International (HCIL) had $241K in cash and equivalents against $6.6M in long-term debt.

What is Hongchang International's gross margin?

Hongchang International (HCIL) had a gross margin of 6.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Hongchang International's operating margin?

Hongchang International (HCIL) had an operating margin of -13.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Hongchang International's net profit margin?

Hongchang International (HCIL) had a net profit margin of -16.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Hongchang International's return on equity (ROE)?

Hongchang International (HCIL) has a return on equity of -1.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Hongchang International's free cash flow?

Hongchang International (HCIL) generated -$11.4M in free cash flow during fiscal year 2024. This represents a 71.5% 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 Hongchang International's operating cash flow?

Hongchang International (HCIL) generated -$7.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Hongchang International's total assets?

Hongchang International (HCIL) had $57.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Hongchang International's capital expenditures?

Hongchang International (HCIL) invested $4.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Hongchang International have outstanding?

Hongchang International (HCIL) had 519M shares outstanding as of fiscal year 2024.

What is Hongchang International's current ratio?

Hongchang International (HCIL) had a current ratio of 1.21 as of fiscal year 2024, which is considered adequate.

What is Hongchang International's debt-to-equity ratio?

Hongchang International (HCIL) had a debt-to-equity ratio of 0.17 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Hongchang International's return on assets (ROA)?

Hongchang International (HCIL) had a return on assets of -0.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Hongchang International's cash runway?

Based on fiscal year 2024 data, Hongchang International (HCIL) had $241K in cash against an annual operating cash burn of $7.3M. This gives an estimated cash runway of approximately 0 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 Hongchang International's Piotroski F-Score?

Hongchang International (HCIL) has a Piotroski F-Score of 2 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Hongchang International's earnings high quality?

Hongchang International (HCIL) has an earnings quality ratio of 15.53x, 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.

How financially healthy is Hongchang International?

Hongchang International (HCIL) scores 38 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.