Ping An Biomedical Co., Ltd. (PASW) 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 Oct 28, 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 Jan 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PASW SEC filings page.
Ping An Biomedical Co., Ltd. (PASW) reported $4.8M in revenue for fiscal year 2025, down 61.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
FY2025’s revenue collapse exposed a cost structure that stayed heavy, while financing reshaped the balance sheet more than operations did.
Revenue fell61.6% in FY2025 while SG&A rose17.3% , showing that expenses did not contract with the business. Gross margin narrowed to2.8% , while operating margin fell to-43.0% ; the damage therefore extended well beyond weaker sales into the cost structure.
The current ratio rose from 0.8x in FY2024 to 2.8x in FY2025, but operating cash flow reversed from
FY2025’s net loss was
Financial Health Signals
Scored against emerging 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: here 5 of 6, with the others left out rather than counted as zero. 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 Co., 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.
Ping An Biomedical Co., Ltd. held $165K in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $903K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Ping An Biomedical Co., Ltd. scores 10/100 among other emerging companies.
Ping An Biomedical Co., Ltd. had 21M shares outstanding at the end of fiscal year 2025, against 18M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ping An Biomedical Co., Ltd. scores 43/100 among other emerging companies.
Not available for Ping An Biomedical Co., Ltd., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
Ping An Biomedical Co., Ltd. reported revenue of $4.8M in fiscal year 2025, against $12.5M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Ping An Biomedical Co., Ltd. scores 12/100 among other emerging companies.
Ping An Biomedical Co., Ltd.'s operations used $903K of cash in fiscal year 2025, against $2.1M generated in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Ping An Biomedical Co., Ltd. scores 42/100 among other emerging companies.
Ping An Biomedical Co., Ltd.'s cash, cash equivalents and investments came to $165K at the end of fiscal year 2025, against $3.3M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Ping An Biomedical Co., Ltd. scores 11/100 among other emerging companies.
Ping An Biomedical Co., Ltd. scores 2.96, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $15.7M against total liabilities of $3.3M. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ping An Biomedical Co., Ltd. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ping An Biomedical Co., Ltd. reported a net loss of $1.8M while operations used $903K of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ping An Biomedical Co., Ltd. reported an operating loss of $2.1M against $43K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ping An Biomedical Co., Ltd. generated $4.8M in revenue in fiscal year 2025. This represents a decrease of 61.6% from the prior year.
Ping An Biomedical Co., Ltd.'s EBITDA was -$2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 176765.4% from the prior year.
Ping An Biomedical Co., Ltd. reported a net loss of $1.8M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Ping An Biomedical Co., Ltd. earned -$0.10 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
Ping An Biomedical Co., Ltd. held $165K in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Ping An Biomedical Co., Ltd.'s gross margin was 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.4 percentage points from the prior year.
Ping An Biomedical Co., Ltd.'s operating margin was -43.0% in fiscal year 2025, reflecting core business profitability. This is down 43.0 percentage points from the prior year.
Ping An Biomedical Co., Ltd.'s net profit margin was -37.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 36.1 percentage points from the prior year.
Ping An Biomedical Co., Ltd.'s ROE was -28.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
PASW 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 |
|---|---|---|---|
| Revenue | $4.8M-61.6% | $12.5M+10.3% | $11.3M |
| Cost of Revenue | $4.7M-60.2% | $11.7M+9.1% | $10.7M |
| Gross Profit | $133K-82.7% | $772K+32.8% | $581K |
| SG&A Expenses | $886K+17.3% | $755K+53.1% | $493K |
| Operating Income | -$2.1Mn/m | -$291-100.3% | $84K |
| EBITDA | -$2.1M-176765.4% | $1K-98.7% | $88K |
| Interest Expense | $43K-57.1% | $101K-57.9% | $239K |
| Income Tax | $261Kn/m | -$86Kn/m | -$142K |
| Net Income | -$1.8Mn/m | -$183Kn/m | -$136K |
| EPS (Basic) | -$0.10n/m | -$0.01n/m | -$0.01 |
| EPS (Diluted) | -$0.10n/m | -$0.01n/m | -$0.01 |
| Diluted Shares (Avg) | 18M+2.7% | 18M0.0% | 18M |
Not reported in any period shown, so not listed: R&D Expenses.
PASW 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 |
|---|---|---|---|
| Total Assets | $9.6M+18.6% | $8.1M | N/A |
| Current Assets | $8.9M+17.8% | $7.6M | N/A |
| Cash & Equivalents | $165K+782.8% | $19K-77.0% | $81K |
| Short-Term Investments | $0n/m | $0n/m | $0 |
| Inventory | $62K+242.2% | $18K | N/A |
| Accounts Receivable | $2.4M-58.7% | $5.8M | N/A |
| Long-Term Investments | $0n/m | $0n/m | $0 |
| Total Liabilities | $3.3M-64.3% | $9.1M | N/A |
| Current Liabilities | $3.2M-64.2% | $9.1M | N/A |
| Non-Current Liabilities | $13K-79.6% | $66K | N/A |
| Total Equity | $6.4Mn/m | -$1.0Mn/m | -$803K |
| Retained Earnings | -$3.0Mn/m | -$1.2M | N/A |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
PASW 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.
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
PASW 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 |
|---|---|---|---|
| Gross Margin | 2.8%-3.4pp | 6.2%+1.0pp | 5.1% |
| Operating Margin | -43.0%-43.0pp | 0.0%-0.7pp | 0.7% |
| Net Margin | -37.6%-36.1pp | -1.5%-0.3pp | -1.2% |
| Return on Equity | -28.4% | N/A | N/A |
| Return on Assets | -18.8%-16.5pp | -2.3% | N/A |
| Current Ratio | 2.76+1.9x | 0.84 | N/A |
| Liabilities-to-Equity | 0.51 | N/A | N/A |
| Asset Turnover | 0.50-1.0x | 1.54 | N/A |
Not reported in any period shown, so not listed: Debt-to-Equity, FCF Margin.
Where Ping An Biomedical Co., Ltd. Ranks
Frequently Asked Questions
What is Ping An Biomedical Co., Ltd.'s annual revenue?
Ping An Biomedical Co., Ltd. (PASW) reported $4.8M in total revenue for fiscal year 2025. This represents a -61.6% 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 Ping An Biomedical Co., Ltd.'s revenue growing?
Ping An Biomedical Co., Ltd. (PASW) revenue declined by 61.6% year-over-year, from $12.5M to $4.8M in fiscal year 2025.
Is Ping An Biomedical Co., Ltd. profitable?
No, Ping An Biomedical Co., Ltd. (PASW) reported a net loss of $1.8M in fiscal year 2025, with a net profit margin of -37.6%.
What is Ping An Biomedical Co., Ltd.'s EBITDA?
Ping An Biomedical Co., Ltd. (PASW) had EBITDA of -$2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ping An Biomedical Co., Ltd.'s gross margin?
Ping An Biomedical Co., Ltd. (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 Co., Ltd.'s operating margin?
Ping An Biomedical Co., Ltd. (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 Co., Ltd.'s net profit margin?
Ping An Biomedical Co., Ltd. (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 Co., Ltd.'s return on equity (ROE)?
Ping An Biomedical Co., Ltd. (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 Co., Ltd.'s operating cash flow?
Ping An Biomedical Co., Ltd. (PASW) recorded an outflow of $903K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ping An Biomedical Co., Ltd.'s total assets?
Ping An Biomedical Co., Ltd. (PASW) had $9.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Ping An Biomedical Co., Ltd.'s current ratio?
Ping An Biomedical Co., Ltd. (PASW) had a current ratio of 2.76 as of fiscal year 2025, which is generally considered healthy.
What is Ping An Biomedical Co., Ltd.'s liabilities-to-equity ratio?
Ping An Biomedical Co., Ltd. (PASW) had a liabilities-to-equity ratio of 0.51 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.
What is Ping An Biomedical Co., Ltd.'s return on assets (ROA)?
Ping An Biomedical Co., Ltd. (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 Co., Ltd.'s P/E ratio?
Ping An Biomedical Co., Ltd. (PASW) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $15.7M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ping An Biomedical Co., Ltd.'s price-to-sales ratio?
Ping An Biomedical Co., Ltd. (PASW) trades at 3.3x sales, its market capitalization divided by $4.8M revenue, FY2025. The market capitalization is $15.7M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Ping An Biomedical Co., Ltd.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Ping An Biomedical Co., Ltd. (PASW) held $165K in cash, cash equivalents and investments, and reported an operating cash outflow of $903K over that year. Dividing the one by the other, the reported balance equals about 2 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.
What is Ping An Biomedical Co., Ltd.'s Altman Z-Score?
Ping An Biomedical Co., Ltd. (PASW) has an Altman Z-Score of 2.96, placing it in the Grey Zone (moderate 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 Ping An Biomedical Co., Ltd.'s Piotroski F-Score?
Ping An Biomedical Co., Ltd. (PASW) has a Piotroski F-Score of 2 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.
Are Ping An Biomedical Co., Ltd.'s earnings high quality?
Ping An Biomedical Co., Ltd. (PASW) reported a net loss of $1.8M while operations used $903K 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.
Can Ping An Biomedical Co., Ltd. cover its interest payments?
Ping An Biomedical Co., Ltd. (PASW) reported an operating loss of $2.1M against $43K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Co., Ltd.?
Ping An Biomedical Co., Ltd. (PASW) scores 24 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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. For Ping An Biomedical Co., Ltd. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.