Powell Max Limited Financials

PMAX

Source SEC Filings (10-K/10-Q) Updated Apr 30, 2026 Currency USD FYE April

This page shows Powell Max Limited (PMAX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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 PMAX FY2024 2026-04-30

External financing is supporting ongoing cash burn, while low long-term debt masks a balance sheet dominated by short-term obligations.

Cash on hand of $5.4M looks sturdier than operations alone would support, because a financing inflow of $6.6M more than covered negative operating cash flow of -$1.5M and free cash flow of -$1.7M. The business is therefore liquid today, but that liquidity was supplied externally rather than created by converting revenue into cash.

Long-term leverage is minimal at just $131K, yet current liabilities of $5.2M make up nearly all liabilities of $5.3M. That combination says the balance sheet is not debt-heavy in the usual sense; its main constraint is short-cycle obligations that must be managed with cash and working capital.

Loss intensity is heavy relative to the capital base: a net loss of -$2.3M on $4.7M of revenue produced a -49.6% net margin, and the same loss drove -85.0% ROE on only $2.7M of equity. Small equity means weak operating results translate into a much larger swing at the shareholder level.

Financial Health Signals

Financial Profile 36/100

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 Powell Max Limited'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.

Growth

Powell Max Limited's revenue surged 30.4% year-over-year to $6.1M, reflecting rapid business expansion. This strong growth earns a score of 84/100.

Leverage

100

Powell Max Limited carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Powell Max Limited's current ratio of 1.80 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Powell Max Limited generated -$1.1M in operating cash flow, capex of $3K consumed most of it, leaving -$1.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Powell Max Limited generates a -94.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -85.0% the prior year.

Piotroski F-Score Weak

3/9

Powell Max Limited passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.37x

For every $1 of reported earnings, Powell Max Limited generates $0.37 in operating cash flow (-$1.1M OCF vs -$3.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.1M

YoY+30.4%

Powell Max Limited generated $6.1M in revenue in fiscal year 2025. This represents an increase of 30.4% from the prior year.

EBITDA

N/A

Net Income

-$3.0M

YoY-29.7%

Powell Max Limited reported -$3.0M in net income in fiscal year 2025. This represents a decrease of 29.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$1.1M

YoY+32.2%

Powell Max Limited generated -$1.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 32.2% from the prior year.

Cash & Debt

$5.4M

YoY-0.2%

Powell Max Limited held $5.4M in cash against $236K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

264,991

Powell Max Limited had 264,991 shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-49.3%

YoY+0.3pp

Powell Max Limited's net profit margin was -49.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.

Return on Equity

-94.3%

YoY-9.3pp

Powell Max Limited's ROE was -94.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$3K

YoY-98.6%

Powell Max Limited invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 98.6% from the prior year.

PMAX Income Statement

Metric	FY25	FY24
Revenue	$6.1M+30.4%	$4.7M
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	$35K+27.1%	$27K
Income Tax	N/A	N/A
Net Income	-$3.0M-29.7%	-$2.3M
EPS (Diluted)	N/A	N/A

Metric	Q3'25
Revenue	N/A
Cost of Revenue	N/A
Gross Profit	N/A
R&D Expenses	N/A
SG&A Expenses	N/A
Operating Income	N/A
Interest Expense	N/A
Income Tax	N/A
Net Income	N/A
EPS (Diluted)	N/A

PMAX Balance Sheet

Metric	FY25	FY24
Total Assets	$5.4M-32.4%	$8.1M
Current Assets	$3.6M-52.2%	$7.5M
Cash & Equivalents	$5.4M-0.2%	$5.4M
Inventory	N/A	N/A
Accounts Receivable	$1.6M-23.5%	$2.1M
Goodwill	$1.1M	N/A
Total Liabilities	$2.2M-57.8%	$5.3M
Current Liabilities	$2.0M-61.5%	$5.2M
Long-Term Debt	$236K+80.8%	$131K
Total Equity	$3.2M+16.9%	$2.7M
Retained Earnings	-$7.4M-69.3%	-$4.3M

Metric	Q3'25
Total Assets	$8.1M
Current Assets	$7.5M
Cash & Equivalents	$5.4M
Inventory	N/A
Accounts Receivable	$2.1M
Goodwill	N/A
Total Liabilities	$5.3M
Current Liabilities	$5.2M
Long-Term Debt	$131K
Total Equity	$2.7M
Retained Earnings	-$4.3M

PMAX Cash Flow Statement

Metric	FY25	FY24
Operating Cash Flow	-$1.1M+23.5%	-$1.5M
Capital Expenditures	$3K-98.6%	$192K
Free Cash Flow	-$1.1M+32.2%	-$1.7M
Investing Cash Flow	-$3.6M-2221.1%	-$155K
Financing Cash Flow	$179K-97.3%	$6.6M
Dividends Paid	N/A	N/A
Share Buybacks	N/A	N/A

Metric	Q3'25
Operating Cash Flow	N/A
Capital Expenditures	N/A
Free Cash Flow	N/A
Investing Cash Flow	N/A
Financing Cash Flow	N/A
Dividends Paid	N/A
Share Buybacks	N/A

PMAX Financial Ratios

Metric	FY25	FY24
Gross Margin	N/A	N/A
Operating Margin	N/A	N/A
Net Margin	-49.3%+0.3pp	-49.6%
Return on Equity	-94.3%-9.3pp	-85.0%
Return on Assets	-55.5%-26.6pp	-28.9%
Current Ratio	1.80+0.4	1.45
Debt-to-Equity	0.07+0.0	0.05
FCF Margin	-18.4%+17.0pp	-35.4%

Metric	Q3'25
Gross Margin	N/A
Operating Margin	N/A
Net Margin	N/A
Return on Equity	N/A
Return on Assets	N/A
Current Ratio	1.45
Debt-to-Equity	0.05
FCF Margin	N/A

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Frequently Asked Questions

What is Powell Max Limited's annual revenue?

Powell Max Limited (PMAX) reported $6.1M in total revenue for fiscal year 2025. This represents a 30.4% 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 Powell Max Limited's revenue growing?

Powell Max Limited (PMAX) revenue grew by 30.4% year-over-year, from $4.7M to $6.1M in fiscal year 2025.

Is Powell Max Limited profitable?

No, Powell Max Limited (PMAX) reported a net income of -$3.0M in fiscal year 2025, with a net profit margin of -49.3%.

How much debt does Powell Max Limited have?

As of fiscal year 2025, Powell Max Limited (PMAX) had $5.4M in cash and equivalents against $236K in long-term debt.

What is Powell Max Limited's net profit margin?

Powell Max Limited (PMAX) had a net profit margin of -49.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Powell Max Limited's return on equity (ROE)?

Powell Max Limited (PMAX) has a return on equity of -94.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Powell Max Limited's free cash flow?

Powell Max Limited (PMAX) generated -$1.1M in free cash flow during fiscal year 2025. This represents a 32.2% 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 Powell Max Limited's operating cash flow?

Powell Max Limited (PMAX) generated -$1.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Powell Max Limited's total assets?

Powell Max Limited (PMAX) had $5.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Powell Max Limited's capital expenditures?

Powell Max Limited (PMAX) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Powell Max Limited have outstanding?

Powell Max Limited (PMAX) had 264,991 shares outstanding as of fiscal year 2025.

What is Powell Max Limited's current ratio?

Powell Max Limited (PMAX) had a current ratio of 1.80 as of fiscal year 2025, which is generally considered healthy.

What is Powell Max Limited's debt-to-equity ratio?

Powell Max Limited (PMAX) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Powell Max Limited's return on assets (ROA)?

Powell Max Limited (PMAX) had a return on assets of -55.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Powell Max Limited's cash runway?

Based on fiscal year 2025 data, Powell Max Limited (PMAX) had $5.4M in cash against an annual operating cash burn of $1.1M. This gives an estimated cash runway of approximately 58 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 Powell Max Limited's Piotroski F-Score?

Powell Max Limited (PMAX) has a Piotroski F-Score of 3 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 Powell Max Limited's earnings high quality?

Powell Max Limited (PMAX) has an earnings quality ratio of 0.37x, 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.

How financially healthy is Powell Max Limited?

Powell Max Limited (PMAX) scores 36 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.