Cordyceps Sunshine Biotech Holdings Co Ltd Financials

RAJAF

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 RAJAF FY2024 2026-05-15

Positive operating cash flow is being consumed by heavy reinvestment, while thin liquidity leaves little room for missteps.

FY2024 produced operating cash flow of $312K despite a net loss of -$226K, showing that reported earnings were pulled down by large non-cash charges rather than a full cash collapse. That pattern was already visible in FY2023, and with depreciation and amortization at $407K against capex of $349K, the business looks asset-heavy: cash comes in from operations, then gets recycled into maintaining the asset base.

Revenue reached $1.25M but gross margin fell to 42.6%, so the extra sales did not create more operating room before overhead. Because FY2023 margins were much richer, the swing suggests margin mix is unstable rather than naturally improving with size.

The balance sheet carries negative equity of -$376K and a current ratio of 0.1x, which means near-term obligations dwarf liquid resources. With cash at only $37K, day-to-day flexibility appears to depend more on continued operating inflow and liability management than on a stored cash cushion.

Financial Health Signals

Financial health score pending refresh

We are recalculating Cordyceps Sunshine Biotech Holdings Co Ltd's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Safe

116.71

Cordyceps Sunshine Biotech Holdings Co Ltd scores 116.71, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.0B) relative to total liabilities ($5.2M). 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.

Piotroski F-Score Partial

4/8

Cordyceps Sunshine Biotech Holdings Co Ltd passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.23x

For every $1 of reported earnings, Cordyceps Sunshine Biotech Holdings Co Ltd generates $0.23 in operating cash flow (-$36K OCF vs -$155K 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

$1.2M

YoY-0.6%

Cordyceps Sunshine Biotech Holdings Co Ltd generated $1.2M in revenue in fiscal year 2025. This represents a decrease of 0.6% from the prior year.

EBITDA

-$6K

YoY-102.6%

Cordyceps Sunshine Biotech Holdings Co Ltd's EBITDA was -$6K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 102.6% from the prior year.

Net Income

-$155K

YoY+31.6%

Cordyceps Sunshine Biotech Holdings Co Ltd reported -$155K in net income in fiscal year 2025. This represents an increase of 31.6% from the prior year.

EPS (Diluted)

$0.00

Cordyceps Sunshine Biotech Holdings Co Ltd earned $0.00 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$3K

YoY-91.4%

Cordyceps Sunshine Biotech Holdings Co Ltd held $3K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

111M

YoY+0.0%

Cordyceps Sunshine Biotech Holdings Co Ltd had 111M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

61.1%

YoY-11.2pp

Cordyceps Sunshine Biotech Holdings Co Ltd's gross margin was 61.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 11.2 percentage points from the prior year.

Operating Margin

-11.3%

YoY+3.3pp

Cordyceps Sunshine Biotech Holdings Co Ltd's operating margin was -11.3% in fiscal year 2025, reflecting core business profitability. This is up 3.3 percentage points from the prior year.

Net Margin

-12.4%

YoY+5.6pp

Cordyceps Sunshine Biotech Holdings Co Ltd's net profit margin was -12.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.6 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

RAJAF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$1.2M-0.6%	$1.3M+42.0%	$883K+1555.7%	$53K-93.9%	$879K
Cost of Revenue	$485K+39.7%	$347K+198.8%	$116K+744.9%	$14K-98.7%	$1.1M
Gross Profit	$761K-16.1%	$906K+18.3%	$766K+1837.4%	$40K+122.4%	-$176K
R&D Expenses	N/A	N/A	N/A	$118K+372.8%	$25K
SG&A Expenses	N/A	N/A	$539K+60.2%	$336K+256.4%	$94K
Operating Income	-$141K+23.3%	-$184K-180.7%	$228K+154.9%	-$415K-247.7%	-$119K
Interest Expense	N/A	N/A	$27K-63.0%	$72K+481.1%	$12K
Income Tax	N/A	$35K+62.4%	$22K+2618.4%	$792+125.6%	$351
Net Income	-$155K+31.6%	-$226K-130.1%	$752K+204.4%	-$720K-46.7%	-$491K
EPS (Diluted)	$0.00	$0.00-100.0%	$0.01+200.0%	$-0.01+99.8%	$-4.91

Metric	Q4'25	Q4'24	Q4'23	Q3'23	Q4'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RAJAF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$4.7M+0.7%	$4.6M+37.9%	$3.4M+59.2%	$2.1M-35.5%	$3.3M
Current Assets	$998K+65.8%	$602K+83.9%	$327K-34.8%	$502K-55.6%	$1.1M
Cash & Equivalents	$3K-91.4%	$37K+61.4%	$23K+248.6%	$7K-93.4%	$100K
Inventory	$674K	N/A	N/A	$314K-34.7%	$480K
Accounts Receivable	N/A	$305	N/A	$150K-58.2%	$358K
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.2M+3.9%	$5.0M+42.7%	$3.5M+14.6%	$3.1M-13.6%	$3.5M
Current Liabilities	$5.2M+4.1%	$5.0M+68.1%	$3.0M+17.7%	$2.5M-13.7%	$2.9M
Long-Term Debt	N/A	N/A	$431K+4.1%	$414K	N/A
Total Equity	-$535K-42.3%	-$376K-147.4%	-$152K+84.0%	-$951K-244.9%	-$276K
Retained Earnings	-$854K-22.1%	-$699K-47.8%	-$473K+61.4%	-$1.2M-142.7%	-$504K

Metric	Q4'25	Q4'24	Q4'23	Q3'23	Q4'22	Q4'21	Q4'20
Total Assets	$4.7M+0.7%	$4.6M+37.9%	$3.4M+86.4%	$1.8M-14.6%	$2.1M-35.5%	$3.3M+15.5%	$2.8M
Current Assets	$998K+65.8%	$602K+83.9%	$327K+527.6%	$52K-89.6%	$502K-55.6%	$1.1M+19.2%	$949K
Cash & Equivalents	$3K-91.4%	$37K+61.4%	$23K+36.6%	$17K+155.1%	$7K-93.4%	$100K+33806.1%	$294
Inventory	$674K	N/A	N/A	$4K-98.6%	$314K-34.7%	$480K-29.9%	$685K
Accounts Receivable	N/A	$305	N/A	N/A	$150K-58.2%	$358K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.2M+3.9%	$5.0M+42.7%	$3.5M+76.9%	$2.0M-35.2%	$3.1M-13.6%	$3.5M+24.7%	$2.8M
Current Liabilities	$5.2M+4.1%	$5.0M+68.1%	$3.0M+102.4%	$1.5M-41.9%	$2.5M-13.7%	$2.9M+21.1%	$2.4M
Long-Term Debt	N/A	N/A	$431K+325.4%	$101K-75.5%	$414K	N/A	N/A
Total Equity	-$535K-42.3%	-$376K-147.4%	-$152K+17.0%	-$183K+80.8%	-$951K-244.9%	-$276K-2052.8%	-$13K
Retained Earnings	-$854K-22.1%	-$699K-47.8%	-$473K+0.9%	-$477K+61.0%	-$1.2M-142.7%	-$504K-3643.6%	-$13K

RAJAF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$36K-111.5%	$312K-13.3%	$360K+211.9%	-$321K+12.0%	-$365K
Capital Expenditures	N/A	$349K+9.3%	$319K+67160.4%	$475-99.5%	$100K
Free Cash Flow	N/A	-$37K-192.5%	$40K+112.5%	-$322K+30.8%	-$465K
Investing Cash Flow	N/A	-$306K+4.4%	-$320K-67230.5%	-$475+99.6%	-$111K
Financing Cash Flow	N/A	N/A	-$32K-113.1%	$246K-57.2%	$575K
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q3'23	Q4'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	-$1.2M	N/A	-$111K	N/A	N/A
Capital Expenditures	N/A	N/A	-$1.2M	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	-$2.5M	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	$1.2M	N/A	-$1K	N/A	N/A
Financing Cash Flow	N/A	N/A	$48K	N/A	$7K	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RAJAF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	61.1%-11.2pp	72.3%-14.5pp	86.8%+12.6pp	74.2%+94.3pp	-20.0%
Operating Margin	-11.3%+3.3pp	-14.7%-40.5pp	25.8%+804.6pp	-778.8%-765.2pp	-13.6%
Net Margin	-12.4%+5.6pp	-18.1%-103.2pp	85.2%+1436.1pp	-1350.9%-1295.1pp	-55.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	-3.3%+1.6pp	-4.9%-27.3pp	22.4%+56.6pp	-34.2%-19.2pp	-15.0%
Current Ratio	0.19+0.1	0.12+0.0	0.11-0.1	0.20-0.2	0.39
Debt-to-Equity	-9.71+3.6	-13.31-10.5	-2.84-2.4	-0.44+12.4	-12.83
FCF Margin	N/A	-3.0%-7.5pp	4.6%+608.4pp	-603.8%-550.9pp	-52.9%

Metric	Q4'25	Q4'24	Q4'23	Q3'23	Q4'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	0.19+0.1	0.12+0.0	0.11+0.1	0.04-0.2	0.20-0.2	0.390.0	0.39
Debt-to-Equity	-9.71+3.6	-13.31-10.5	-2.84-2.3	-0.55-0.1	-0.44+12.4	-12.83+208.7	-221.55
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$535K), 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 (0.19), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is Cordyceps Sunshine Biotech Holdings Co Ltd's annual revenue?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) reported $1.2M in total revenue for fiscal year 2025. This represents a -0.6% 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 Cordyceps Sunshine Biotech Holdings Co Ltd's revenue growing?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) revenue declined by 0.6% year-over-year, from $1.3M to $1.2M in fiscal year 2025.

Is Cordyceps Sunshine Biotech Holdings Co Ltd profitable?

No, Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) reported a net income of -$155K in fiscal year 2025, with a net profit margin of -12.4%.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's EBITDA?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had EBITDA of -$6K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's gross margin?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had a gross margin of 61.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's operating margin?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had an operating margin of -11.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's net profit margin?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had a net profit margin of -12.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's operating cash flow?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) generated -$36K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Cordyceps Sunshine Biotech Holdings Co Ltd's total assets?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had $4.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Cordyceps Sunshine Biotech Holdings Co Ltd have outstanding?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had 111M shares outstanding as of fiscal year 2025.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's current ratio?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had a current ratio of 0.19 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's debt-to-equity ratio?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had a debt-to-equity ratio of -9.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's return on assets (ROA)?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had a return on assets of -3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's cash runway?

Based on fiscal year 2025 data, Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) had $3K in cash against an annual operating cash burn of $36K. This gives an estimated cash runway of approximately 1 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.

Why is Cordyceps Sunshine Biotech Holdings Co Ltd's debt-to-equity ratio negative or unusual?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) has negative shareholder equity of -$535K as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's Altman Z-Score?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) has an Altman Z-Score of 116.71, 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.

What is Cordyceps Sunshine Biotech Holdings Co Ltd's Piotroski F-Score?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) has a Piotroski F-Score of 4 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 Cordyceps Sunshine Biotech Holdings Co Ltd's earnings high quality?

Cordyceps Sunshine Biotech Holdings Co Ltd (RAJAF) has an earnings quality ratio of 0.23x, 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.