Ping An Biomedical Financials
This page shows Ping An Biomedical (PASW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
A thin gross spread and receivable-heavy working capital make this business rely on external financing instead of internally generated cash.
With only2.8% gross margin, the company produced just$133K of gross profit, leaving ordinary overhead to drive most of the operating loss rather than a financing or tax issue. Cash conversion was less weak than earnings because operating cash outflow of-$903K was smaller than the net loss of-$1.8M , but the business still depended on external financing to keep operating.
The current ratio of 2.8x looks comfortable, but that liquidity is not sitting in cash.
A 0.5x debt-to-equity ratio suggests the balance sheet is not dominated by leverage, so financing strain is coming more from operating losses than from creditors.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Ping An Biomedical'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.
Ping An Biomedical has an operating margin of -43.0%, meaning the company retains $-43 of operating profit per $100 of revenue. This below-average margin results in a low score of 12/100, suggesting thin profitability after operating expenses.
Ping An Biomedical has a moderate D/E ratio of 0.51. This balance of debt and equity financing earns a leverage score of 59/100.
With a current ratio of 2.76, Ping An Biomedical holds $2.76 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 73/100.
Ping An Biomedical generates a -28.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100.
Ping An Biomedical scores 3.18, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($16.9M) relative to total liabilities ($3.3M). 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.
For every $1 of reported earnings, Ping An Biomedical generates $0.50 in operating cash flow (-$903K OCF vs -$1.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Ping An Biomedical earns $-47.9 in operating income for every $1 of interest expense (-$2.1M vs $43K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Ping An Biomedical generated $4.8M in revenue in fiscal year 2025.
Ping An Biomedical's EBITDA was -$2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Ping An Biomedical reported -$1.8M in net income in fiscal year 2025.
Cash & Balance Sheet
Ping An Biomedical held $165K in cash against $0 in long-term debt as of fiscal year 2025.
Ping An Biomedical had 21M shares outstanding in fiscal year 2025.
Margins & Returns
Ping An Biomedical's gross margin was 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Ping An Biomedical's operating margin was -43.0% in fiscal year 2025, reflecting core business profitability.
Ping An Biomedical's net profit margin was -37.6% in fiscal year 2025, showing the share of revenue converted to profit.
Ping An Biomedical's ROE was -28.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
PASW Income Statement
| Metric | Q4'25 | Q2'25 |
|---|---|---|
| Revenue | N/A | N/A |
| Cost of Revenue | N/A | N/A |
| Gross Profit | N/A | N/A |
| R&D Expenses | N/A | N/A |
| SG&A Expenses | N/A | N/A |
| Operating Income | N/A | N/A |
| Interest Expense | N/A | N/A |
| Income Tax | N/A | N/A |
| Net Income | N/A | N/A |
| EPS (Diluted) | N/A | N/A |
PASW Balance Sheet
| Metric | Q4'25 | Q2'25 |
|---|---|---|
| Total Assets | $9.6M+43.4% | $6.7M |
| Current Assets | $8.9M+40.9% | $6.3M |
| Cash & Equivalents | $165K+990.0% | $15K |
| Inventory | $62K+240.4% | $18K |
| Accounts Receivable | $2.4M-42.5% | $4.1M |
| Goodwill | N/A | N/A |
| Total Liabilities | $3.3M-60.9% | $8.3M |
| Current Liabilities | $3.2M-60.8% | $8.3M |
| Long-Term Debt | N/A | N/A |
| Total Equity | $6.4M+492.6% | -$1.6M |
| Retained Earnings | -$3.0M-72.3% | -$1.7M |
PASW Cash Flow Statement
| Metric | Q4'25 | Q2'25 |
|---|---|---|
| Operating Cash Flow | N/A | N/A |
| Capital Expenditures | N/A | N/A |
| Free Cash Flow | N/A | N/A |
| Investing Cash Flow | N/A | N/A |
| Financing Cash Flow | N/A | N/A |
| Dividends Paid | N/A | N/A |
| Share Buybacks | N/A | N/A |
PASW Financial Ratios
| Metric | Q4'25 | Q2'25 |
|---|---|---|
| Gross Margin | N/A | N/A |
| Operating Margin | N/A | N/A |
| Net Margin | N/A | N/A |
| Return on Equity | N/A | N/A |
| Return on Assets | N/A | N/A |
| Current Ratio | 2.76+2.0 | 0.77 |
| Debt-to-Equity | 0.51 | N/A |
| FCF Margin | N/A | N/A |
Frequently Asked Questions
What is Ping An Biomedical's annual revenue?
Ping An Biomedical (PASW) reported $4.8M 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 Ping An Biomedical profitable?
No, Ping An Biomedical (PASW) reported a net income of -$1.8M in fiscal year 2025, with a net profit margin of -37.6%.
What is Ping An Biomedical's EBITDA?
Ping An Biomedical (PASW) had EBITDA of -$2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ping An Biomedical's gross margin?
Ping An Biomedical (PASW) had a gross margin of 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ping An Biomedical's operating margin?
Ping An Biomedical (PASW) had an operating margin of -43.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ping An Biomedical's net profit margin?
Ping An Biomedical (PASW) had a net profit margin of -37.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ping An Biomedical's return on equity (ROE)?
Ping An Biomedical (PASW) has a return on equity of -28.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ping An Biomedical's operating cash flow?
Ping An Biomedical (PASW) generated -$903K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ping An Biomedical's total assets?
Ping An Biomedical (PASW) had $9.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Ping An Biomedical's current ratio?
Ping An Biomedical (PASW) had a current ratio of 2.76 as of fiscal year 2025, which is generally considered healthy.
What is Ping An Biomedical's debt-to-equity ratio?
Ping An Biomedical (PASW) 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 Ping An Biomedical's return on assets (ROA)?
Ping An Biomedical (PASW) had a return on assets of -18.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ping An Biomedical's cash runway?
Based on fiscal year 2025 data, Ping An Biomedical (PASW) had $165K in cash against an annual operating cash burn of $903K. This gives an estimated cash runway of approximately 2 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 Ping An Biomedical's Altman Z-Score?
Ping An Biomedical (PASW) has an Altman Z-Score of 3.18, 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.
Are Ping An Biomedical's earnings high quality?
Ping An Biomedical (PASW) has an earnings quality ratio of 0.50x, 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 Ping An Biomedical cover its interest payments?
Ping An Biomedical (PASW) has an interest coverage ratio of -47.9x, 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 Ping An Biomedical?
Ping An Biomedical (PASW) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite 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.