Multi Ways Holdings Ltd Financials
This page shows Multi Ways Holdings Ltd (MWG) financial statements, including the 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 (10-K and 10-Q reports).
Inventory-heavy working capital has overtaken gross-margin improvement, leaving operations dependent on cash raised rather than cash earned.
FY2024’s gross margin widened to31.3% from24.0% in FY2023, even though the company still reported an operating loss. With operating cash flow at-$12.9M and inventory at$45.1M , the economic pressure appears to sit below gross profit—in overhead and cash tied up before stock turns into collected sales.
The balance sheet looks liquid at first glance because the current ratio was 1.5x, but most current assets were goods on hand rather than ready cash. That makes liquidity more conditional than the ratio suggests: only
The business became more externally financed in FY2024, with financing cash inflow of
Financial Health Signals
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 Multi Ways Holdings Ltd'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.
Multi Ways Holdings Ltd has an operating margin of 1.7%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 16/100, suggesting thin profitability after operating expenses. This is up from -6.2% the prior year.
Multi Ways Holdings Ltd's revenue surged 44.1% year-over-year to $44.8M, reflecting rapid business expansion. This strong growth earns a score of 52/100.
Multi Ways Holdings Ltd carries a low D/E ratio of 1.73, meaning only $1.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.
Multi Ways Holdings Ltd's current ratio of 1.57 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Multi Ways Holdings Ltd's free cash flow margin of 13.7% results in a low score of 7/100. Capital expenditures of $202K absorb a large share of operating cash flow.
Multi Ways Holdings Ltd generates a -1.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 3/100. This is up from -14.2% the prior year.
Multi Ways Holdings Ltd scores 1.25, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Multi Ways Holdings Ltd passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Multi Ways Holdings Ltd generates $-14.67 in operating cash flow ($6.4M OCF vs -$433K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Multi Ways Holdings Ltd earns $0.5 in operating income for every $1 of interest expense ($772K vs $1.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Multi Ways Holdings Ltd generated $44.8M in revenue in fiscal year 2025. This represents an increase of 44.1% from the prior year.
Multi Ways Holdings Ltd's EBITDA was $1.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 177.4% from the prior year.
Multi Ways Holdings Ltd reported -$433K in net income in fiscal year 2025. This represents an increase of 84.8% from the prior year.
Multi Ways Holdings Ltd earned $-0.11 per diluted share (EPS) in fiscal year 2025. This represents an increase of 87.8% from the prior year.
Cash & Balance Sheet
Multi Ways Holdings Ltd generated $6.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 145.5% from the prior year.
Multi Ways Holdings Ltd held $1.9M in cash against $0 in long-term debt as of fiscal year 2025.
Multi Ways Holdings Ltd had 41M shares outstanding in fiscal year 2025. This represents an increase of 24.0% from the prior year.
Margins & Returns
Multi Ways Holdings Ltd's gross margin was 24.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 6.5 percentage points from the prior year.
Multi Ways Holdings Ltd's operating margin was 1.7% in fiscal year 2025, reflecting core business profitability. This is up 8.0 percentage points from the prior year.
Multi Ways Holdings Ltd's net profit margin was -1.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 8.2 percentage points from the prior year.
Multi Ways Holdings Ltd's ROE was -1.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.3 percentage points from the prior year.
Capital Allocation
Multi Ways Holdings Ltd invested $202K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 66.2% from the prior year.
MWG Income Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A |
MWG Balance Sheet
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Total Assets | $61.9M-11.0% | $69.6M+20.0% | $58.0M+9.9% | $52.8M-3.3% | $54.6M |
| Current Assets | $57.0M-12.3% | $65.0M+24.1% | $52.4M+18.9% | $44.1M-2.3% | $45.1M |
| Cash & Equivalents | $1.9M-41.9% | $3.3M-53.9% | $7.1M+605.2% | $1.0M-34.6% | $1.5M |
| Inventory | $42.4M-6.0% | $45.1M+22.9% | $36.7M+16.7% | $31.4M-4.4% | $32.9M |
| Accounts Receivable | $7.0M+13.5% | $6.2M+15.7% | $5.3M-33.4% | $8.0M+40.9% | $5.7M |
| Goodwill | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $39.3M-20.6% | $49.5M+36.8% | $36.2M-22.2% | $46.5M-5.6% | $49.3M |
| Current Liabilities | $36.3M-19.0% | $44.8M+42.3% | $31.5M-23.6% | $41.2M+1.3% | $40.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $22.7M+12.8% | $20.1M-8.0% | $21.8M+245.8% | $6.3M+17.8% | $5.4M |
| Retained Earnings | -$263K-254.7% | $170K-94.4% | $3.0M+144.9% | $1.2M+380.5% | $257K |
MWG Cash Flow Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A |
MWG Financial Ratios
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 1.57+0.1 | 1.45-0.2 | 1.66+0.6 | 1.07-0.0 | 1.11 |
| Debt-to-Equity | 1.73-0.7 | 2.46+0.8 | 1.66-5.7 | 7.36-1.8 | 9.19 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Multi Ways Holdings Ltd's annual revenue?
Multi Ways Holdings Ltd (MWG) reported $44.8M in total revenue for fiscal year 2025. This represents a 44.1% 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 Multi Ways Holdings Ltd's revenue growing?
Multi Ways Holdings Ltd (MWG) revenue grew by 44.1% year-over-year, from $31.1M to $44.8M in fiscal year 2025.
Is Multi Ways Holdings Ltd profitable?
No, Multi Ways Holdings Ltd (MWG) reported a net income of -$433K in fiscal year 2025, with a net profit margin of -1.0%.
What is Multi Ways Holdings Ltd's EBITDA?
Multi Ways Holdings Ltd (MWG) had EBITDA of $1.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Multi Ways Holdings Ltd's gross margin?
Multi Ways Holdings Ltd (MWG) had a gross margin of 24.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Multi Ways Holdings Ltd's operating margin?
Multi Ways Holdings Ltd (MWG) had an operating margin of 1.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Multi Ways Holdings Ltd's net profit margin?
Multi Ways Holdings Ltd (MWG) had a net profit margin of -1.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Multi Ways Holdings Ltd's return on equity (ROE)?
Multi Ways Holdings Ltd (MWG) has a return on equity of -1.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Multi Ways Holdings Ltd's free cash flow?
Multi Ways Holdings Ltd (MWG) generated $6.2M in free cash flow during fiscal year 2025. This represents a 145.5% 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 Multi Ways Holdings Ltd's operating cash flow?
Multi Ways Holdings Ltd (MWG) generated $6.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Multi Ways Holdings Ltd's total assets?
Multi Ways Holdings Ltd (MWG) had $61.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Multi Ways Holdings Ltd's capital expenditures?
Multi Ways Holdings Ltd (MWG) invested $202K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Multi Ways Holdings Ltd's current ratio?
Multi Ways Holdings Ltd (MWG) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.
What is Multi Ways Holdings Ltd's debt-to-equity ratio?
Multi Ways Holdings Ltd (MWG) had a debt-to-equity ratio of 1.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Multi Ways Holdings Ltd's return on assets (ROA)?
Multi Ways Holdings Ltd (MWG) had a return on assets of -0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Multi Ways Holdings Ltd's Altman Z-Score?
Multi Ways Holdings Ltd (MWG) has an Altman Z-Score of 1.25, placing it in the Distress Zone (elevated 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.
What is Multi Ways Holdings Ltd's Piotroski F-Score?
Multi Ways Holdings Ltd (MWG) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 Multi Ways Holdings Ltd's earnings high quality?
Multi Ways Holdings Ltd (MWG) has an earnings quality ratio of -14.67x, considered mixed quality. 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 Multi Ways Holdings Ltd cover its interest payments?
Multi Ways Holdings Ltd (MWG) has an interest coverage ratio of 0.5x, 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 Multi Ways Holdings Ltd?
Multi Ways Holdings Ltd (MWG) scores 29 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.