What is Kaixin Holdings's earnings per share (EPS)?

Kaixin Holdings (KXIN) reported diluted earnings per share of $-24.20 for fiscal year 2025. This represents a 96.9% change compared to the previous fiscal year. 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.

Kaixin Holdings Financials

KXIN

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

This page shows Kaixin Holdings (KXIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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 KXIN FY2025 2026-04-22

Kaixin’s recent filings show a collapsed sales base alongside persistent corporate overhead and a short-term liquidity squeeze.

From FY2023 to FY2025, revenue fell from $31.5M to $129K, showing the operating platform is now far smaller than the overhead built around it. Yet FY2025 SG&A still reached $31.6M while operating cash burn was only -$2.6M, so the very large reported loss appears to come more from accounting charges and structural overhead than from equivalent cash leaving the business.

The balance sheet looks illiquid more than overleveraged: FY2025 cash was only $859K and the current ratio was 0.1x, so near-term obligations are not well covered by current resources. But total liabilities were $11.1M against equity of $21.9M, which points to a funding mismatch rather than a debt load overwhelming the company on paper.

Cash has drained from $7.1M to $859K across the valid annual history shown. Financing cash flow was positive in each recent year, which suggests the business has been leaning on external funding to bridge routine cash needs instead of rebuilding liquidity through operations, helping explain why liquidity keeps thinning.

Financial Health Signals

Financial Profile 16/100

Based on FY2025 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 Kaixin Holdings'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

Kaixin Holdings has an operating margin of -24489.9%, meaning the company retains $-24490 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.

Leverage

Kaixin Holdings carries a low D/E ratio of 0.51, meaning only $0.51 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Kaixin Holdings's current ratio of 0.11 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

Kaixin Holdings generates a -245.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -311.0% the prior year.

Piotroski F-Score Weak

2/9

Kaixin Holdings passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.05x

For every $1 of reported earnings, Kaixin Holdings generates $0.05 in operating cash flow (-$2.6M OCF vs -$53.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-4513.1x

Kaixin Holdings earns $-4513.1 in operating income for every $1 of interest expense (-$31.6M vs $7K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$129K

5Y CAGR-36.1%

Kaixin Holdings generated $129K in revenue in fiscal year 2025.

EBITDA

-$27.7M

YoY-82.3%

Kaixin Holdings's EBITDA was -$27.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 82.3% from the prior year.

Net Income

-$53.9M

YoY-31.6%

Kaixin Holdings reported -$53.9M in net income in fiscal year 2025. This represents a decrease of 31.6% from the prior year.

EPS (Diluted)

$-24.20

YoY+96.9%

Kaixin Holdings earned $-24.20 per diluted share (EPS) in fiscal year 2025. This represents an increase of 96.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$859K

YoY-64.0%

5Y CAGR+7.2%

Kaixin Holdings held $859K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

100.0%

5Y CAGR+17.1pp

Kaixin Holdings's gross margin was 100.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.

Operating Margin

-24489.9%

5Y CAGR-24467.0pp

Kaixin Holdings's operating margin was -24489.9% in fiscal year 2025, reflecting core business profitability.

Net Margin

-41788.4%

5Y CAGR-41774.6pp

Kaixin Holdings's net profit margin was -41788.4% in fiscal year 2025, showing the share of revenue converted to profit.

Return on Equity

-245.8%

YoY+65.2pp

5Y CAGR-243.2pp

Kaixin Holdings's ROE was -245.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 65.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

KXIN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$129K	N/A	$31.5M-61.9%	$82.8M-67.4%	$253.8M+20930.7%	$1.2M
Cost of Revenue	N/A	N/A	$31.2M-62.0%	$82.2M-66.9%	$248.6M+20495.1%	$1.2M
Gross Profit	$129K	N/A	$342K-47.1%	$646K-87.7%	$5.3M+425.7%	$1.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	$757K
SG&A Expenses	$31.6M+74.0%	$18.2M+0.9%	$18.0M-61.3%	$46.5M+6.3%	$43.7M+16403.4%	$265K
Operating Income	-$31.6M-65.0%	-$19.1M+8.8%	-$21.0M+56.2%	-$47.9M+73.7%	-$182.6M-66064.1%	-$276K
Interest Expense	$7K-98.0%	$342K-34.9%	$525K-49.2%	$1.0M+322.0%	$245K+24400.0%	$1K
Income Tax	-$2.7M-193.6%	-$931K-308.3%	-$228K-408.1%	$74K+110.2%	-$729K	$0
Net Income	-$53.9M-31.6%	-$41.0M+23.5%	-$53.6M+36.8%	-$84.7M+56.9%	-$196.6M-118321.1%	-$166K
EPS (Diluted)	$-24.20+96.9%	$-781.64	$-4213.21	$-380.86-1377.9%	$-25.77-1171263.6%	$-0.00

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q1'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$464K
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$464K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$726K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

KXIN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$33.0M+34.0%	$24.6M-63.6%	$67.6M+21.5%	$55.7M-24.9%	$74.2M+1024.8%	$6.6M
Current Assets	$1.0M-65.6%	$3.0M-29.2%	$4.2M-90.1%	$42.3M-28.2%	$58.9M+3262.1%	$1.8M
Cash & Equivalents	$859K-64.0%	$2.4M+14.5%	$2.1M-70.6%	$7.1M+34.9%	$5.3M+767.1%	$607K
Inventory	$66K+127.6%	$29K-55.4%	$65K+109.7%	$31K-92.3%	$404K	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$21.2M	N/A	$38.2M	$0	N/A	$0
Total Liabilities	$11.1M-3.3%	$11.5M-38.4%	$18.6M-7.7%	$20.2M-44.1%	$36.1M+8290.9%	$430K
Current Liabilities	$9.0M-0.9%	$9.0M-40.1%	$15.1M-23.9%	$19.9M-32.4%	$29.4M+6733.3%	$430K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$21.9M+66.5%	$13.2M-71.1%	$45.6M+45.6%	$31.3M+5.6%	$29.7M+381.3%	$6.2M
Retained Earnings	-$431.4M-14.3%	-$377.5M-12.2%	-$336.6M-18.9%	-$283.0M-42.7%	-$198.3M-11409.1%	-$1.7M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q1'19
Total Assets	$33.0M+34.0%	$24.6M-63.6%	$67.6M+21.5%	$55.7M-24.9%	$74.2M+1024.8%	$6.6M-87.9%	$54.4M-74.6%	$213.9M
Current Assets	$1.0M-65.6%	$3.0M-29.2%	$4.2M-90.1%	$42.3M-28.2%	$58.9M+3262.1%	$1.8M-96.6%	$52.0M+36468.5%	$142K
Cash & Equivalents	$859K-64.0%	$2.4M+14.5%	$2.1M-70.6%	$7.1M+34.9%	$5.3M+767.1%	$607K-81.0%	$3.2M+5809.6%	$54K
Inventory	$66K+127.6%	$29K-55.4%	$65K+109.7%	$31K-92.3%	$404K	N/A	$21.0M	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$219K	N/A
Goodwill	$21.2M	N/A	$38.2M	$0	N/A	$0	N/A	N/A
Total Liabilities	$11.1M-3.3%	$11.5M-38.4%	$18.6M-7.7%	$20.2M-44.1%	$36.1M+8290.9%	$430K-99.2%	$51.9M-75.2%	$208.9M
Current Liabilities	$9.0M-0.9%	$9.0M-40.1%	$15.1M-23.9%	$19.9M-32.4%	$29.4M+6733.3%	$430K-99.2%	$51.0M+1216.9%	$3.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$21.9M+66.5%	$13.2M-71.1%	$45.6M+45.6%	$31.3M+5.6%	$29.7M+381.3%	$6.2M+234.9%	-$4.6M-191.4%	$5.0M
Retained Earnings	-$431.4M-14.3%	-$377.5M-12.2%	-$336.6M-18.9%	-$283.0M-42.7%	-$198.3M-11409.1%	-$1.7M+99.1%	-$192.2M-5903.6%	$3.3M

KXIN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$2.6M+14.5%	-$3.0M-43.3%	-$2.1M+11.9%	-$2.4M-13.8%	-$2.1M-85.3%	-$1.1M
Capital Expenditures	N/A	$18K-95.5%	$396K+571.2%	$59K	N/A	N/A
Free Cash Flow	N/A	-$3.0M-21.3%	-$2.5M-2.1%	-$2.5M	N/A	N/A
Investing Cash Flow	N/A	-$26K+99.2%	-$3.1M-1909.0%	-$156K-103.7%	$4.3M+1571.4%	-$290K
Financing Cash Flow	$1.0M-76.9%	$4.5M+344.3%	$1.0M-81.2%	$5.4M+170.3%	$2.0M-6.2%	$2.1M
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	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q1'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$1.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$2.1M
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.2M
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

KXIN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	100.0%	N/A	1.1%+0.3pp	0.8%-1.3pp	2.1%-80.8pp	82.8%
Operating Margin	-24489.9%	N/A	-66.5%-8.7pp	-57.9%+14.1pp	-71.9%-49.1pp	-22.9%
Net Margin	-41788.4%	N/A	-169.8%-67.6pp	-102.3%-24.8pp	-77.4%-63.7pp	-13.8%
Return on Equity	-245.8%+65.2pp	-311.0%-193.5pp	-117.5%+153.0pp	-270.5%+392.2pp	-662.7%-660.0pp	-2.7%
Return on Assets	-163.3%+3.0pp	-166.3%-87.1pp	-79.2%+72.9pp	-152.1%+112.9pp	-265.1%-262.6pp	-2.5%
Current Ratio	0.11-0.2	0.33+0.1	0.28-1.9	2.13+0.1	2.01-2.1	4.08
Debt-to-Equity	0.51-0.4	0.87+0.5	0.41-0.2	0.64-0.6	1.22+1.1	0.07
FCF Margin	N/A	N/A	-7.9%-5.0pp	-3.0%	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q1'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	14.5%
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.3%
Current Ratio	0.11-0.2	0.33+0.1	0.28-1.9	2.13+0.1	2.01-2.1	4.08+3.1	1.02+1.0	0.04
Debt-to-Equity	0.51-0.4	0.87+0.5	0.41-0.2	0.64-0.6	1.22+1.1	0.07+11.4	-11.35-53.1	41.77
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.11), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Kaixin Holdings's annual revenue?

Kaixin Holdings (KXIN) reported $129K in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Kaixin Holdings profitable?

No, Kaixin Holdings (KXIN) reported a net income of -$53.9M in fiscal year 2025, with a net profit margin of -41788.4%.

What is Kaixin Holdings's EBITDA?

Kaixin Holdings (KXIN) had EBITDA of -$27.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Kaixin Holdings's gross margin?

Kaixin Holdings (KXIN) had a gross margin of 100.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Kaixin Holdings's operating margin?

Kaixin Holdings (KXIN) had an operating margin of -24489.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Kaixin Holdings's net profit margin?

Kaixin Holdings (KXIN) had a net profit margin of -41788.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Kaixin Holdings's return on equity (ROE)?

Kaixin Holdings (KXIN) has a return on equity of -245.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kaixin Holdings's operating cash flow?

Kaixin Holdings (KXIN) generated -$2.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Kaixin Holdings's total assets?

Kaixin Holdings (KXIN) had $33.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What is Kaixin Holdings's current ratio?

Kaixin Holdings (KXIN) had a current ratio of 0.11 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Kaixin Holdings's debt-to-equity ratio?

Kaixin Holdings (KXIN) had a debt-to-equity ratio of 0.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kaixin Holdings's return on assets (ROA)?

Kaixin Holdings (KXIN) had a return on assets of -163.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kaixin Holdings's cash runway?

Based on fiscal year 2025 data, Kaixin Holdings (KXIN) had $859K in cash against an annual operating cash burn of $2.6M. This gives an estimated cash runway of approximately 4 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 Kaixin Holdings's Piotroski F-Score?

Kaixin Holdings (KXIN) 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 Kaixin Holdings's earnings high quality?

Kaixin Holdings (KXIN) has an earnings quality ratio of 0.05x, 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.

Can Kaixin Holdings cover its interest payments?

Kaixin Holdings (KXIN) has an interest coverage ratio of -4513.1x, 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 Kaixin Holdings?

Kaixin Holdings (KXIN) scores 16 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.