Intchains Group (ICG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ICG SEC filings page.
Intchains Group Limited (ICG) reported $31.6M in revenue for fiscal year 2025, down 18.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
FY2025 shows a sharp reversal: revenue shrank while costs surged, turning prior profitability into a cash-consuming operation.
Revenue fell18.2% while cost of revenue rose63.9% , so the deterioration reflects a cost-structure squeeze rather than volume alone. That squeeze left gross margin at7.2% while R&D still consumed35.0% of revenue, pushing the company back into operating losses.
FY2024's net income of
Despite the losses, FY2025 liabilities were only
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 Intchains Group 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.
Intchains Group Limited has an operating margin of -47.4%, meaning the company loses $47 on every $100 of revenue. This results in a profitability score of 6/100. This is down from 1.1% the prior year.
Intchains Group Limited's revenue declined 18.2% year-over-year, from $38.6M to $31.6M. This contraction results in a growth score of 96/100.
With a current ratio of 14.10, Intchains Group Limited holds $14.10 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 99/100.
Intchains Group Limited's operations used $13.3M of cash, and capex of $674K added to the outflow, for a free cash flow shortfall of $14.0M. This results in a cash flow score of 6/100.
Intchains Group Limited posts a -4.9% return on equity (ROE), meaning it loses $5 for every $100 of shareholders' equity. This results in a returns score of 20/100. This is down from 5.1% the prior year.
Intchains Group Limited scores 9.48, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $82.3M against total liabilities of $6.2M. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Intchains Group Limited passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Intchains Group Limited reported a net loss of $6.8M while operations used $13.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Intchains Group Limited generated $31.6M in revenue in fiscal year 2025. This represents a decrease of 18.2% from the prior year.
Intchains Group Limited's EBITDA was -$14.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1479.4% from the prior year.
Intchains Group Limited reported a net loss of $6.8M in fiscal year 2025. This represents a decrease of 196.3% from the prior year.
Intchains Group Limited earned -$0.06 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 194.7% from the prior year.
Cash & Balance Sheet
Intchains Group Limited recorded an outflow of $14.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
Intchains Group Limited held $31.7M in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Margins & Returns
Intchains Group Limited's gross margin was 7.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 46.5 percentage points from the prior year.
Intchains Group Limited's operating margin was -47.4% in fiscal year 2025, reflecting core business profitability. This is down 48.4 percentage points from the prior year.
Intchains Group Limited's net profit margin was -21.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 39.8 percentage points from the prior year.
Intchains Group Limited's ROE was -4.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.0 percentage points from the prior year.
Capital Allocation
Intchains Group Limited invested $11.1M in research and development in fiscal year 2025. This represents a decrease of 26.3% from the prior year.
Intchains Group Limited invested $674K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 51.2% from the prior year.
Not reported for fiscal year 2025.
ICG 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 | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Revenue | $31.6M-18.2% | $38.6M+233.3% | $11.6M-83.1% | $68.7M-30.7% | $99.1M+1084.8% | $8.4M |
| Cost of Revenue | $29.3M+63.9% | $17.9M+73.5% | $10.3M-18.3% | $12.6M-29.4% | $17.9M+400.1% | $3.6M |
| Gross Profit | $2.3M-89.0% | $20.7M+1521.3% | $1.3M-97.7% | $56.1M-31.0% | $81.3M+1595.7% | $4.8M |
| R&D Expenses | $11.1M-26.3% | $15.0M+151.6% | $6.0M-15.1% | $7.0M-15.9% | $8.3M+142.1% | $3.4M |
| SG&A Expenses | $6.2M+16.7% | $5.3M+18.6% | $4.5M+97.3% | $2.3M-17.1% | $2.7M+447.5% | $499K |
| Operating Income | -$15.0M-3808.7% | $404Kn/m | -$9.2M-119.6% | $46.8M-33.3% | $70.2M+8175.0% | $848K |
| EBITDA | -$14.1M-1479.4% | $1.0Mn/m | -$8.6M-118.3% | $47.0M-33.1% | $70.3M+7681.9% | $903K |
| Interest Expense | N/A | N/A | N/A | $11K-65.8% | $31K+20.1% | $26K |
| Income Tax | -$5.2Mn/m | -$181Kn/m | -$1.2M-171.7% | $1.7Mn/m | $0n/m | $0 |
| Net Income | -$6.8M-196.3% | $7.1Mn/m | -$3.8M-107.3% | $51.5M-27.1% | $70.6M+5488.8% | $1.3M |
| EPS (Basic) | -$0.06-194.7% | $0.06n/m | -$0.03-107.1% | $0.44-37.4% | $0.70+5590.2% | $0.01 |
| EPS (Diluted) | -$0.06-194.7% | $0.06n/m | -$0.03-107.1% | $0.44-37.4% | $0.70+5590.2% | $0.01 |
| Diluted Shares (Avg) | 121M+0.7% | 120M+0.5% | 119M+1.5% | 118M+16.6% | 101M+0.9% | 100M |
ICG 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 | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Total Assets | $145.8M-2.3% | $149.3M+8.2% | $137.9M-0.2% | $138.2M+44.1% | $95.9M | N/A |
| Current Assets | $86.2M-12.7% | $98.8M-9.8% | $109.5M-9.2% | $120.6M+26.6% | $95.3M | N/A |
| Cash & Equivalents | $31.7M-28.2% | $44.1M-46.4% | $82.4M-20.2% | $103.3M+31.0% | $78.8M | N/A |
| Short-Term Investments | $38.3M+40.6% | $27.2M+87.2% | $14.5Mn/m | $0n/m | $0 | N/A |
| Inventory | $7.5M-44.8% | $13.5M | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0-100.0% | $2.8M0.0% | $2.8Mn/m | $0n/m | $0 | N/A |
| Total Liabilities | $6.2M-40.8% | $10.5M+157.1% | $4.1M+43.8% | $2.8M-45.1% | $5.2M | N/A |
| Current Liabilities | $6.1M-41.6% | $10.5M+164.0% | $4.0M+42.5% | $2.8M-43.9% | $5.0M | N/A |
| Non-Current Liabilities | $80Kn/m | $0-100.0% | $107K+120.0% | $49K-75.5% | $199K | N/A |
| Total Equity | $139.6M+0.6% | $138.8M+3.7% | $133.9M-1.1% | $135.4M+49.1% | $90.8M+1632.0% | $5.2M |
| Retained Earnings | $102.2M-2.2% | $104.4M+3.9% | $100.6M-6.5% | $107.5M+75.6% | $61.2M | N/A |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill, Long-Term Debt.
ICG 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 | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.3Mn/m | -$18.9Mn/m | -$663K-101.4% | $47.4M-23.7% | $62.1M+2497.7% | $2.4M |
| Depreciation & Amortization | $884K+43.1% | $617K+14.5% | $539K+105.9% | $262K+201.9% | $87K+58.2% | $55K |
| Stock-Based Compensation | $1.2M+0.6% | $1.2M+151.3% | $489Kn/m | $0n/m | $0 | N/A |
| Capital Expenditures | $674K-51.2% | $1.4M-79.1% | $6.6M+1033.9% | $583K+109.7% | $278K+622.0% | $38K |
| Free Cash Flow | -$14.0Mn/m | -$20.3Mn/m | -$7.3M-115.5% | $46.8M-24.3% | $61.8M+2528.4% | $2.4M |
| Investing Cash Flow | -$1.8Mn/m | -$17.3Mn/m | -$24.6Mn/m | -$16.9Mn/m | -$278Kn/m | -$38K |
| Financing Cash Flow | $1.1Mn/m | $0-100.0% | $7.2Mn/m | $0-100.0% | $14.0M+36264.5% | $38K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ICG 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 | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Gross Margin | 7.2%-46.5pp | 53.7%+42.7pp | 11.0%-70.6pp | 81.6%-0.3pp | 82.0%+24.7pp | 57.3% |
| Operating Margin | -47.4%-48.4pp | 1.1%+80.1pp | -79.0%-147.1pp | 68.1%-2.7pp | 70.8%+60.7pp | 10.1% |
| Net Margin | -21.5%-39.8pp | 18.3%+50.9pp | -32.6%-107.6pp | 75.0%+3.7pp | 71.2%+56.1pp | 15.1% |
| Return on Equity | -4.9%-10.0pp | 5.1%+7.9pp | -2.8%-40.9pp | 38.0%-39.8pp | 77.8%+53.7pp | 24.1% |
| Return on Assets | -4.7%-9.4pp | 4.7%+7.5pp | -2.7%-40.0pp | 37.3%-36.4pp | 73.6% | N/A |
| Current Ratio | 14.10+4.7x | 9.43-18.2x | 27.61-15.7x | 43.34+24.1x | 19.22 | N/A |
| Liabilities-to-Equity | 0.040.0x | 0.080.0x | 0.030.0x | 0.020.0x | 0.06 | N/A |
| Asset Turnover | 0.220.0x | 0.26+0.2x | 0.08-0.4x | 0.50-0.5x | 1.03 | N/A |
| FCF Margin | -44.2%+8.4pp | -52.6%+10.1pp | -62.8%-130.9pp | 68.1%+5.8pp | 62.3%+34.2pp | 28.1% |
Not reported in any period shown, so not listed: Debt-to-Equity.
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 |
|---|---|---|---|---|---|---|
| Intchains Group Limited ICG | FY2025 | $31.6M | -$6.8M | -21.5% | $82.3M | 52/100 |
| QTREX Quantum Ltd. QTEX | FY2025 | $289K | -$13.2M | N/A | $67.7M | — |
| Canaan Inc. CAN | FY2025 | $529.7M | -$210.3M | -39.7% | $151.4M | 48/100 |
| Planet Image International Limited YIBO | FY2025 | $155.2M | -$8.3M | -5.3% | $65.2M | 41/100 |
| Transact Technologies Inc TACT | FY2025 | $51.5M | -$1.2M | -2.4% | $54.4M | 60/100 |
| One Stop Systems, Inc. OSS | FY2025 | $32.2M | $5.1M | 15.8% | $116.7M | 36/100 |
Where Intchains Group Limited Ranks
Frequently Asked Questions
Intchains Group Limited (ICG) reported $31.6M in total revenue for fiscal year 2025. This represents a -18.2% 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.
Intchains Group Limited (ICG) revenue declined by 18.2% year-over-year, from $38.6M to $31.6M in fiscal year 2025.
No, Intchains Group Limited (ICG) reported a net loss of $6.8M in fiscal year 2025, with a net profit margin of -21.5%.
Intchains Group Limited (ICG) had EBITDA of -$14.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Intchains Group Limited (ICG) had a gross margin of 7.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Intchains Group Limited (ICG) had an operating margin of -47.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Intchains Group Limited (ICG) had a net profit margin of -21.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Intchains Group Limited (ICG) has a return on equity of -4.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Intchains Group Limited (ICG) recorded an outflow of $14.0M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Intchains Group Limited (ICG) recorded an outflow of $13.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Intchains Group Limited (ICG) had $145.8M in total assets as of fiscal year 2025, including both current and long-term assets.
Intchains Group Limited (ICG) invested $674K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Intchains Group Limited (ICG) invested $11.1M in research and development during fiscal year 2025.
Intchains Group Limited (ICG) had a current ratio of 14.10 as of fiscal year 2025, which is generally considered healthy.
Intchains Group Limited (ICG) had a liabilities-to-equity ratio of 0.04 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. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Intchains Group Limited (ICG) had a return on assets of -4.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Intchains Group Limited (ICG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $82.3M as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Intchains Group Limited (ICG) trades at 2.6x sales, its market capitalization divided by $31.6M revenue, FY2025. The market capitalization is $82.3M as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
At the end of fiscal year 2025, Intchains Group Limited (ICG) held $70.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $13.3M over that year. Dividing the one by the other, the reported balance equals about 63 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Intchains Group Limited (ICG) has an Altman Z-Score of 9.48, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Intchains Group Limited (ICG) has a Piotroski F-Score of 1 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.
Intchains Group Limited (ICG) reported a net loss of $6.8M while operations used $13.3M 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.
Intchains Group Limited (ICG) scores 52 out of 100 on our Financial Health Score, indicating moderate 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.