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

HWH International (HWH) reported diluted earnings per share of $-0.40 for fiscal year 2025. 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.

HWH International Financials

HWH

Source SEC Filings (10-K/10-Q) Updated Mar 25, 2026 Currency USD FYE March

This page shows HWH International (HWH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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

Earnings Quality Low Quality

0.67x

For every $1 of reported earnings, HWH International generates $0.67 in operating cash flow (-$1.8M OCF vs -$2.6M 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

$867K

YoY-30.8%

HWH International generated $867K in revenue in fiscal year 2025. This represents a decrease of 30.8% from the prior year.

EBITDA

N/A

Net Income

-$2.6M

YoY-1.5%

HWH International reported -$2.6M in net income in fiscal year 2025. This represents a decrease of 1.5% from the prior year.

EPS (Diluted)

$-0.40

HWH International earned $-0.40 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$1.8M

YoY-4.7%

HWH International generated -$1.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 4.7% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

YoY+33.7%

HWH International had 7M shares outstanding in fiscal year 2025. This represents an increase of 33.7% from the prior year.

Margins & Returns

Gross Margin

53.0%

YoY+5.0pp

HWH International's gross margin was 53.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 5.0 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-303.4%

YoY-96.8pp

HWH International's net profit margin was -303.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 96.8 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

$21.1M

YoY+0.0%

HWH International spent $21.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 0.0% from the prior year.

Capital Expenditures

$19K

YoY-36.0%

HWH International invested $19K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 36.0% from the prior year.

HWH Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	$867K-30.8%	$1.3M+50.9%	$831K	N/A
Cost of Revenue	$407K-37.5%	$652K+94.6%	$335K	N/A
Gross Profit	$460K-23.6%	$602K+21.4%	$496K	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$3.5M+33.4%	$2.6M-9.0%	$2.9M+393.3%	$590K
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	$52K-27.5%	$72K	N/A	N/A
Income Tax	$47K	N/A	$415K+122.2%	$187K
Net Income	-$2.6M-1.5%	-$2.6M-139.8%	-$1.1M-1051.6%	$114K
EPS (Diluted)	$-0.40	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$207K-33.4%	$310K+5.1%	$295K+2.8%	$287K-16.9%	$346K+3.2%	$335K+17.0%	$286K+37.7%	$208K
Cost of Revenue	$83K-48.5%	$162K+9.4%	$148K-14.8%	$173K-6.7%	$186K+9.2%	$170K+38.4%	$123K+26.6%	$97K
Gross Profit	$124K-17.0%	$149K+0.9%	$148K+29.7%	$114K-28.8%	$160K-3.1%	$165K+1.0%	$163K+47.3%	$111K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$325K-33.5%	$489K-26.4%	$664K+77.0%	$375K-23.0%	$487K-25.6%	$655K-42.0%	$1.1M+10.7%	$1.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$32K+8.8%	$30K-41.1%	$50K+198.4%	$17K-9.0%	$18K-1.3%	$19K+3.1%	$18K	N/A
Income Tax	$5K	N/A	$43K	N/A	N/A	N/A	N/A	$40K
Net Income	-$291K-449.0%	$83K+114.8%	-$565K-78.0%	-$317K+42.1%	-$548K-41.4%	-$388K+71.0%	-$1.3M-29.9%	-$1.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HWH Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	N/A	$6.4M-73.0%	$23.7M-73.4%	$89.3M
Current Assets	N/A	$5.5M+309.2%	$1.3M+12.0%	$1.2M
Cash & Equivalents	N/A	$4.3M+274.5%	$1.2M-1.1%	$1.2M
Inventory	N/A	$2K-20.4%	$2K	N/A
Accounts Receivable	N/A	$18K-38.7%	$29K+215.4%	$9K
Goodwill	N/A	$0	N/A	N/A
Total Liabilities	N/A	$3.6M-86.7%	$27.3M-70.1%	$91.3M
Current Liabilities	N/A	$3.3M-45.0%	$6.0M+1500.0%	$377K
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	N/A	$2.8M+176.6%	-$3.6M-77.5%	-$2.0M
Retained Earnings	N/A	-$6.3M-77.1%	-$3.6M-75.5%	-$2.0M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$5.2M-51.1%	$10.6M+62.3%	$6.5M+1.9%	$6.4M+119.5%	$2.9M-4.8%	$3.1M+19.9%	$2.6M-89.2%	$23.7M
Current Assets	$3.9M-58.0%	$9.2M+55.4%	$5.9M+7.9%	$5.5M+212.8%	$1.8M-11.4%	$2.0M+27.6%	$1.5M+15.7%	$1.3M
Cash & Equivalents	$2.9M-22.3%	$3.7M-10.7%	$4.2M-3.8%	$4.3M+421.6%	$832K+1.3%	$821K-15.7%	$975K-15.9%	$1.2M
Inventory	$1K-82.5%	$6K+146.4%	$3K+64.2%	$2K-16.9%	$2K+29.7%	$1K-59.4%	$4K+82.0%	$2K
Accounts Receivable	$8K-66.1%	$23K-34.6%	$35K+100.1%	$18K-50.0%	$35K+36.3%	$26K-11.8%	$29K+1.9%	$29K
Goodwill	$122K+58.1%	$77K	N/A	$0	N/A	N/A	$324K	N/A
Total Liabilities	$2.3M-68.2%	$7.4M+151.1%	$2.9M-19.4%	$3.6M+10.6%	$3.3M-50.7%	$6.7M+17.4%	$5.7M-79.2%	$27.3M
Current Liabilities	$2.3M-68.5%	$7.1M+168.6%	$2.7M-19.7%	$3.3M+72.3%	$1.9M-64.6%	$5.4M+21.3%	$4.5M-25.8%	$6.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.8M-12.0%	$3.2M-10.2%	$3.6M+30.0%	$2.8M+837.6%	-$375K+89.6%	-$3.6M-15.3%	-$3.1M+13.2%	-$3.6M
Retained Earnings	-$7.0M-4.3%	-$6.7M+2.5%	-$6.9M-8.9%	-$6.3M-25.4%	-$5.0M-12.2%	-$4.5M-9.5%	-$4.1M-15.0%	-$3.6M

HWH Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	-$1.8M-5.4%	-$1.7M+36.2%	-$2.6M-405.8%	-$514K
Capital Expenditures	$19K-36.0%	$30K+108.5%	$15K	N/A
Free Cash Flow	-$1.8M-4.7%	-$1.7M+35.4%	-$2.6M	N/A
Investing Cash Flow	-$1.2M-105.8%	$20.5M-70.1%	$68.4M+178.5%	-$87.1M
Financing Cash Flow	$935K+105.9%	-$15.8M+76.6%	-$67.5M-176.0%	$88.8M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	$21.1M0.0%	$21.1M-69.1%	$68.4M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$200K-842.9%	$27K+104.8%	-$555K-117.0%	-$256K+6.9%	-$275K+44.0%	-$491K+23.1%	-$638K-71.6%	-$372K
Capital Expenditures	$18K	N/A	N/A	$291-86.0%	$2K-92.0%	$26K+1152.5%	$2K+75.7%	$1K
Free Cash Flow	-$218K	N/A	N/A	-$256K+7.5%	-$277K+46.4%	-$517K+19.3%	-$640K-71.7%	-$373K
Investing Cash Flow	-$274K+38.0%	-$442K-47.2%	-$300K-88076.5%	$341+100.3%	-$103K-100.5%	$20.8M+8354.3%	-$252K+59.4%	-$621K
Financing Cash Flow	$624K+907.1%	-$77K-111.8%	$656K-82.0%	$3.6M+983.7%	$337K+101.6%	-$20.5M-2832.4%	$750K+84.2%	$407K
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	$1	$0	N/A	N/A	$0

HWH Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	53.0%+5.0pp	48.0%-11.7pp	59.7%	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	-303.4%-96.8pp	-206.7%-76.6pp	-130.1%	N/A
Return on Equity	N/A	-93.7%	N/A	N/A
Return on Assets	N/A	-40.4%-35.9pp	-4.6%-4.7pp	0.1%
Current Ratio	N/A	1.65+1.4	0.22-3.0	3.17
Debt-to-Equity	N/A	1.32+8.9	-7.57+37.4	-44.94
FCF Margin	-204.1%-69.3pp	-134.8%+180.0pp	-314.9%	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	59.8%+11.8pp	48.0%-2.0pp	50.0%+10.4pp	39.6%-6.6pp	46.3%-3.0pp	49.3%-7.8pp	57.1%+3.7pp	53.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-140.7%-167.6pp	26.9%+218.3pp	-191.4%-80.8pp	-110.6%+48.1pp	-158.7%-42.9pp	-115.8%+351.4pp	-467.3%+28.1pp	-495.3%
Return on Equity	-10.3%-12.8pp	2.6%+18.3pp	-15.7%-4.2pp	-11.5%	N/A	N/A	N/A	N/A
Return on Assets	-5.6%-6.4pp	0.8%+9.4pp	-8.6%-3.7pp	-5.0%+13.8pp	-18.8%-6.1pp	-12.6%+39.6pp	-52.3%-47.9pp	-4.3%
Current Ratio	1.71+0.4	1.28-0.9	2.22+0.6	1.65+0.7	0.91+0.5	0.36+0.0	0.35+0.1	0.22
Debt-to-Equity	0.83-1.5	2.29+1.5	0.82-0.5	1.32+10.1	-8.79-6.9	-1.85-0.0	-1.82+5.8	-7.57
FCF Margin	-105.4%	N/A	N/A	-89.3%-9.0pp	-80.2%+74.1pp	-154.3%+69.5pp	-223.8%-44.3pp	-179.5%

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Frequently Asked Questions

What is HWH International's annual revenue?

HWH International (HWH) reported $867K in total revenue for fiscal year 2025. This represents a -30.8% 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 HWH International's revenue growing?

HWH International (HWH) revenue declined by 30.8% year-over-year, from $1.3M to $867K in fiscal year 2025.

Is HWH International profitable?

No, HWH International (HWH) reported a net income of -$2.6M in fiscal year 2025, with a net profit margin of -303.4%.

What is HWH International's gross margin?

HWH International (HWH) had a gross margin of 53.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is HWH International's net profit margin?

HWH International (HWH) had a net profit margin of -303.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is HWH International's free cash flow?

HWH International (HWH) generated -$1.8M in free cash flow during fiscal year 2025. This represents a -4.7% 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 HWH International's operating cash flow?

HWH International (HWH) generated -$1.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are HWH International's capital expenditures?

HWH International (HWH) invested $19K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does HWH International buy back shares?

Yes, HWH International (HWH) spent $21.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does HWH International have outstanding?

HWH International (HWH) had 7M shares outstanding as of fiscal year 2025.

Are HWH International's earnings high quality?

HWH International (HWH) has an earnings quality ratio of 0.67x, 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.