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Planet Green Financials

PLAG
FY2025 annual
Revenue $3.0M -35.2% YoY
Net Income -$27.0M -268.1% YoY
EPS (Diluted) -$2.21 YoY not available
Free Cash Flow -$1.8M -321.0% YoY
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Planet Green (PLAG) reported $3.0M in revenue for fiscal year 2025, down 35.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 PLAG FY2025

Shrinking sales now collide with an overhead base that overwhelms gross profit, leaving financing to sustain a depleted balance sheet.

From FY2024 to FY2025, revenue fell 35.2% while SG&A rose 475.9%, so the business’s overhead—not gross-profit generation—drove the widening loss. Gross margin also compressed from 11.8% to 3.3%, indicating that weaker unit economics compounded the overhead shock rather than merely reflecting a temporary expense spike.

A 0.6x current ratio against $13.5M of current liabilities indicates short-term obligations exceed readily available current resources, while cash itself is only $16K. Financing provided $1.7M in FY2025 while operating cash flow was -$1.8M, meaning external funding roughly covered the year’s operating cash need rather than supporting expansion.

FY2024’s positive free cash flow of $812K did not establish a durable cash-conversion pattern: FY2025 returned to -$1.8M as operating losses deepened. Capital expenditures were just $5K in FY2025, so the cash drain came overwhelmingly from day-to-day operations, not from rebuilding the asset base. The company is shrinking while consuming cash, rather than investing heavily to create capacity.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&DIntensity Revenue Progress BurnTrend BalanceSheet 18 / 100
Financial Health Score 18/100
Scored as: Emerging companies peer group

Scored against emerging 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 Planet Green'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.

Cash Runway
1
Dilution
22
R&D Intensity
6
Revenue Progress
4
Burn Trend
75
Balance Sheet
1
Altman Z-Score Distress
-26.59

Planet Green scores -26.59, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($11.1M) relative to total liabilities ($13.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
2/8

Planet Green 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, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing
N/A

Planet Green reported a net loss of $27.0M while operations used $1.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk
N/A

Planet Green reported an operating loss of $17.6M against $156K 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

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Earnings & Revenue

Revenue
$3.0M
YoY-35.2%
5Y CAGR-3.5%
10Y CAGR-31.9%

Planet Green generated $3.0M in revenue in fiscal year 2025. This represents a decrease of 35.2% from the prior year.

EBITDA
-$16.7M
YoY-610.9%

Planet Green's EBITDA was -$16.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 610.9% from the prior year.

Net Income
-$27.0M
YoY-268.1%

Planet Green reported -$27.0M in net income in fiscal year 2025. This represents a decrease of 268.1% from the prior year.

EPS (Diluted)
-$2.21

Planet Green earned -$2.21 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
-$1.8M
YoY-321.0%

Planet Green recorded an outflow of $1.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 321.0% from the prior year.

Cash & Debt
$16K
YoY-67.5%
5Y CAGR-65.9%
10Y CAGR-50.3%

Planet Green held $16K in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding
14M

Planet Green had 14M shares outstanding in fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin
3.3%
YoY-8.5pp
5Y CAGR-31.6pp
10Y CAGR-15.1pp

Planet Green's gross margin was 3.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 8.5 percentage points from the prior year.

Operating Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending
$70K
YoY+23.0%

Planet Green invested $70K in research and development in fiscal year 2025. This represents an increase of 23.0% from the prior year.

Capital Expenditures
$5K
YoY+302.3%

Planet Green invested $5K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 302.3% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

PLAG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PLAG annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Revenue$9.3M$3.0M-35.2%$4.7M-73.4%$17.7M-60.5%$44.8M+18.5%$37.8M+937.9%$3.6M+228.9%$1.1M-83.8%$6.8M+33.6%$5.1M-93.6%$79.7M-43.4%$140.7M-35.3%$217.6M+1.1%$215.3M-10.2%$239.7M+12.4%$213.2M
Cost of Revenue$3.3M$2.9M-29.0%$4.1M-74.3%$16.1M-60.2%$40.4M+880.3%$4.1M+73.9%$2.4M+410.3%$464K-92.9%$6.5M+19.4%$5.5M-92.1%$69.2M-39.7%$114.7M-36.1%$179.6M+4.3%$172.1M-8.7%$188.6M+12.1%$168.2M
Gross Profit$1.6M$101K-81.8%$555K-65.0%$1.6M-63.6%$4.4M+13.1%$3.8M+203.1%$1.3M+97.6%$642K+110.8%$305K+185.8%-$355K-103.4%$10.5M-59.6%$26.0M-31.6%$38.0M-12.1%$43.2M-15.5%$51.1M+13.5%$45.0M
R&D Expenses$47K$70K+23.0%$57K+3.9%$55K-86.4%$403K-50.2%$808KN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
SG&A Expenses$18.1M$17.6M+476.0%$3.1M-61.7%$8.0M+13.3%$7.1M-2.3%$7.2M+85.3%$3.9M+330.6%$905K+3.5%$875K-97.8%$40.6M-0.6%$40.8M+620.1%$5.7M-46.8%$10.7M+47.3%$7.2M-3.7%$7.5M+14.0%$6.6M
Operating Income-$17.3M-$17.6M-583.8%-$2.6M+60.7%-$6.6M-24.5%-$5.3M+15.4%-$6.2M-123.7%-$2.8M-820.3%-$303K+48.2%-$584K+98.6%-$41.4M-13.5%-$36.4M-370.7%$13.5M-14.1%$15.7M-38.4%$25.4M-20.2%$31.9M+14.1%$27.9M
Interest Expense$180K$156K+120.5%$71K+557.1%$11K-98.3%$634K+123.4%$284K+1112.1%$23K+140.7%$10K+74707.7%$13-100.0%$4.1M-10.8%$4.6M-12.9%$5.2M-37.2%$8.3M+62.0%$5.2M+27.8%$4.0M+57.4%$2.6M
Income TaxN/A$11KN/A$35K-97.6%$1.5M+2513.2%$56KN/AN/A$164K+2.0%$161K-91.5%$1.9M-43.5%$3.4M+8.8%$3.1M-44.6%$5.6M-28.0%$7.7M+13.5%$6.8M
Net Income-$26.0M-$27.0M-268.1%-$7.3M+64.8%-$20.8M+19.2%-$25.8M-158.3%-$10.0M+9.6%-$11.1M-475.0%$2.9M-82.5%$16.8M+121.5%-$78.3M+42.6%-$136.4M-4976.5%-$2.7M-161.0%$4.4M-75.1%$17.7M-18.6%$21.7M+3.1%$21.1M
EPS (Diluted)-$2.21-$0.35-$0.29-$0.43-$0.39-$1.09-34.6%-$0.81-111.7%$6.91-$5.61-$3.55-5171.4%$0.07-36.4%$0.11-77.1%$0.48-18.6%$0.59+3.5%$0.57

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

PLAG Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PLAG annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Total Assets$11.3M-55.4%$25.4M-40.4%$42.6M-29.8%$60.7M-29.4%$86.0M+291.5%$22.0M-15.2%$25.9M+50.5%$17.2M-74.9%$68.5M-53.8%$148.3M-51.7%$307.1M-8.8%$336.5M+11.1%$303.0M+21.0%$250.4M+14.5%$218.7M
Current Assets$7.9M-47.1%$14.9M-33.4%$22.4M+61.6%$13.8M-49.3%$27.3M+102.0%$13.5M-25.6%$18.2M+21.1%$15.0M-11.5%$16.9M-74.6%$66.8M-64.6%$188.6M-6.6%$201.9M+8.9%$185.4M+15.8%$160.2M+24.7%$128.4M
Cash & Equivalents$16K-67.5%$48K-82.1%$270K+189.1%$93K-87.5%$751K-78.0%$3.4M-53.0%$7.3M+42965.7%$17K-81.1%$89K-79.1%$426K-97.5%$17.1M-27.6%$23.7M-30.0%$33.9M+4.7%$32.3M+86.4%$17.4M
Inventory$599K-29.6%$852K-40.2%$1.4M-65.7%$4.2M-46.9%$7.8M+247.1%$2.3M+16.1%$1.9M$0-100.0%$10.6M-10.5%$11.8M-58.1%$28.3M-45.3%$51.6M+23.1%$42.0M+10.2%$38.1M+10.8%$34.3M
Accounts Receivable$134K+138.7%$56K-98.1%$3.0M-0.5%$3.0M-21.5%$3.8M+357.2%$835K+1153.0%$67K-99.0%$6.5M+794.4%$730K-77.6%$3.3M-91.1%$36.7M-37.6%$58.8M+8.8%$54.1M+11.0%$48.7M+17.5%$41.5M
Goodwill$7K-99.9%$4.7M0.0%$4.7M0.0%$4.7M-74.0%$18.2M+676.9%$2.3MN/AN/AN/AN/A$3.2M-68.8%$10.3M$0N/AN/A
Total Liabilities$13.5M-1.6%$13.7M-40.8%$23.2M+15.2%$20.1M-42.1%$34.8M+850.0%$3.7M-29.1%$5.2M-48.0%$9.9M-87.5%$79.3M-3.5%$82.2M-22.9%$106.6M-16.0%$126.8M-57.8%$300.6M+331.5%$69.7M+12.8%$61.7M
Current Liabilities$13.5M+1.4%$13.3M-42.5%$23.2M+18.3%$19.6M-43.1%$34.4M+847.7%$3.6M-24.3%$4.8M-51.7%$9.9M-87.5%$79.3M-3.3%$82.0M-14.6%$96.0M+4.9%$91.5M+98.7%$46.0M+8.1%$42.6M-7.7%$46.2M
Long-Term DebtN/A$411K-89.2%$3.8M+1227.5%$287K-24.5%$380K+1112.7%$31KN/AN/AN/A$0-100.0%$9.5M-70.7%$32.6M-28.9%$45.8M+260.9%$12.7M$0
Total Equity-$2.2M-118.6%$11.7M-39.8%$19.4M-52.1%$40.6M-20.8%$51.3M+179.9%$18.3M-11.7%$20.7M+184.5%$7.3M+167.5%-$10.8M-118.4%$58.8M-70.7%$200.5M-4.4%$209.8M+8444.8%$2.5M-98.6%$180.7M+15.1%$156.9M
Retained Earnings-$175.0M-18.2%-$148.1M-5.2%-$140.7M-17.4%-$119.9M-27.4%-$94.1M-11.6%-$84.3M-15.1%-$73.3M+7.3%-$79.0M+20.7%-$99.6M-173.7%-$36.4M-136.4%$100.0M+1.0%$99.0M-0.2%$99.3M+18.0%$84.1M+27.5%$65.9M

PLAG Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PLAG annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Operating Cash Flow-$237K-$1.8M-320.0%$812K+115.4%-$5.3M+41.4%-$9.0M-1635.2%-$519K+85.2%-$3.5M+35.4%-$5.4M+61.7%-$14.2M-3829.9%-$360K+98.8%-$29.8M-262.9%$18.3M+60.6%$11.4M+234.8%-$8.4M-194.3%$9.0M+518.3%-$2.1M
Capital ExpendituresN/A$5K+302.3%$1K-95.5%$26KN/A$1.4M+100.3%$696K+20.2%$579K+17.9%$491K+56.2%$314K$0-100.0%$1.9M-36.2%$3.0M-83.3%$18.0M+495.2%$3.0M-79.1%$14.5M
Free Cash FlowN/A-$1.8M-321.0%$811K+115.3%-$5.3MN/A-$1.9M+54.4%-$4.2M+30.1%-$6.0M+59.0%-$14.6M-2071.6%-$674K+97.7%-$29.8M-281.9%$16.4M+95.4%$8.4M+131.6%-$26.5M-546.9%$5.9M+135.7%-$16.6M
Investing Cash Flow-$14K-$4K-2381.1%$190-100.0%$2.5M+164.1%-$3.9M+67.4%-$11.8M-1285.3%-$853K-65.2%-$516K-4.9%-$492K-165.6%$751K-91.6%$8.9M+197.9%-$9.1M+18.5%-$11.2M+46.8%-$21.0M-526.5%-$3.3M+79.4%-$16.2M
Financing Cash Flow$48K$1.7M+307.6%-$838K-129.0%$2.9M-73.4%$10.8M+21.4%$8.9M+3646.6%$238K-98.2%$13.2M-14.8%$15.5M+2154.4%-$754K-124.8%$3.0M+120.7%-$14.7M-302.1%-$3.7M-112.6%$29.0M+248.2%$8.3M-51.1%$17.0M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

PLAG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

PLAG annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Gross Margin3.3%-8.5pp11.8%+2.8pp9.0%-0.7pp9.7%-0.5pp10.2%-24.7pp34.9%-23.2pp58.0%+53.6pp4.5%+11.4pp-7.0%-20.1pp13.2%-5.3pp18.5%+1.0pp17.4%-2.6pp20.1%-1.3pp21.3%+0.2pp21.1%
Operating Margin-580.3%-55.0%-17.8pp-37.2%-25.4pp-11.8%+4.7pp-16.5%+60.1pp-76.6%-49.2pp-27.4%-18.8pp-8.6%-809.3%-45.7%-55.3pp9.6%+2.4pp7.2%-4.6pp11.8%-1.5pp13.3%+0.2pp13.1%
Net Margin-887.2%-156.2%-118.0%-57.7%-31.2pp-26.5%-303.7%266.4%246.5%-1532.4%-171.2%-1.9%-3.9pp2.0%-6.2pp8.2%-0.9pp9.1%-0.8pp9.9%
Return on EquityN/A-62.7%+44.5pp-107.2%-43.6pp-63.6%-44.1pp-19.5%+40.9pp-60.4%-74.6pp14.2%-216.7pp230.9%N/A-232.0%-230.7pp-1.3%-3.4pp2.1%-718.4pp720.5%+708.5pp12.0%-1.4pp13.4%
Return on Assets-238.0%-209.2pp-28.8%+20.1pp-48.9%-6.4pp-42.5%-30.9pp-11.6%+38.7pp-50.3%-61.7pp11.4%-86.4pp97.8%+212.1pp-114.3%-22.4pp-92.0%-91.1pp-0.9%-2.2pp1.3%-4.5pp5.8%-2.8pp8.7%-1.0pp9.6%
Current Ratio0.58-0.5x1.12+0.2x0.97+0.3x0.71-0.1x0.79-2.9x3.73-0.1x3.79+2.3x1.51+1.3x0.21-0.6x0.82-1.1x1.96-0.2x2.21-1.8x4.03+0.3x3.76+1.0x2.78
Debt-to-EquityN/A0.04-0.2x0.20+0.2x0.010.0x0.010.0x0.00-0.2x0.25-1.1x1.36N/A0.000.0x0.05-0.1x0.16-18.5x18.67+18.6x0.07+0.1x0.00
FCF Margin-58.9%-76.2pp17.3%+47.3pp-30.1%N/A-5.1%-115.3%-542.1%-214.4%-13.2%+24.2pp-37.4%-49.0pp11.6%+7.8pp3.9%+16.2pp-12.3%-14.8pp2.5%+10.3pp-7.8%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Note: Shareholder equity is negative (-$2.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.58), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Planet Green's annual revenue?

Planet Green (PLAG) reported $3.0M in total revenue for fiscal year 2025. This represents a -35.2% 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.

How fast is Planet Green's revenue growing?

Planet Green (PLAG) revenue declined by 35.2% year-over-year, from $4.7M to $3.0M in fiscal year 2025.

Is Planet Green profitable?

No, Planet Green (PLAG) reported a net income of -$27.0M in fiscal year 2025.

Planet Green (PLAG) reported diluted earnings per share of -$2.21 for fiscal year 2025. 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.

Planet Green (PLAG) had EBITDA of -$16.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Planet Green (PLAG) had a gross margin of 3.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Planet Green (PLAG) recorded an outflow of $1.8M in free cash flow during fiscal year 2025. This represents a -321.0% 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.

Planet Green (PLAG) recorded an outflow of $1.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Planet Green (PLAG) had $11.3M in total assets as of fiscal year 2025, including both current and long-term assets.

Planet Green (PLAG) invested $5K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Planet Green (PLAG) invested $70K in research and development during fiscal year 2025.

Planet Green (PLAG) had 14M shares outstanding as of fiscal year 2025.

Planet Green (PLAG) had a current ratio of 0.58 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Planet Green (PLAG) had a return on assets of -238.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Planet Green (PLAG) had $16K in cash against an annual operating cash burn of $1.8M. This gives an estimated cash runway of approximately 0 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.

Planet Green (PLAG) has negative shareholder equity of -$2.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

Planet Green (PLAG) has an Altman Z-Score of -26.59, 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.

Planet Green (PLAG) 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.

Planet Green (PLAG) reported a net loss of $27.0M while operations used $1.8M 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.

Planet Green (PLAG) reported an operating loss of $17.6M against $156K 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.

Planet Green (PLAG) scores 18 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite 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. 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.

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