Raytech Holding Limited (RAY) Financials
Newest figures come from the 20-F for FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RAY SEC filings page.
Raytech Holding Limited (RAY) reported $18.2M in revenue for fiscal year 2026, up 79.8% 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).
Revenue accelerated in FY2026, but profits did not convert to cash as receivables and financing expanded the balance sheet.
The clearest change is weaker earnings quality: in FY2024, operating cash flow of$2.0M exceeded net income of$1.3M . By FY2026, net income reached$2.1M while operating cash flow turned negative at-$1.9M , indicating that reported profit was not translating into cash during the latest expansion.
Operating profitability compressed from
The balance sheet became more working-capital intensive: accounts receivable rose from
Financial Health Signals
Scored against operating companies for FY2026. 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 Raytech Holding 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.
Raytech Holding Limited has an operating margin of 12.6%, meaning the company retains $13 of operating profit per $100 of revenue. This strong profitability earns a score of 73/100, reflecting efficient cost management and pricing power. This is up from 9.7% the prior year.
Raytech Holding Limited's revenue surged 79.8% year-over-year to $18.2M, reflecting rapid business expansion. This strong growth earns a score of 94/100.
Raytech Holding Limited has a moderate D/E ratio of 0.67. This balance of debt and equity financing earns a leverage score of 55/100.
With a current ratio of 2.36, Raytech Holding Limited holds $2.36 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 68/100.
Not available for Raytech Holding Limited, and counted as zero in the overall score.
Raytech Holding Limited earns a strong 12.9% return on equity (ROE), meaning it generates $13 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 73/100. This is up from 10.7% the prior year.
Raytech Holding Limited scores 2.73, placing it in the grey zone between 1.81 and 2.99. 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.
Raytech Holding Limited passes 2 of 7 computable financial strength tests (2 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.
For every $1 of reported earnings, Raytech Holding Limited used $0.87 of operating cash (-$1.9M OCF vs $2.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Raytech Holding Limited earns $74.07 in operating income for every $1 of interest expense ($2.3M vs $31K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2026.
Cash & Balance Sheet
Raytech Holding Limited held $10.0M in cash as of Q4 2026; long-term debt is not reported for that period.
Not reported for Q4 2026.
Not reported for Q4 2026.
Margins & Returns
None of these metrics is reported for Q4 2026.
Capital Allocation
None of these metrics is reported for Q4 2026.
RAY 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
RAY 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 | Q4'2620-F | Q4'2520-F | Q2'2510-Q | Q4'2410-K |
|---|---|---|---|---|
| Total Assets | $27.6M+125.9% | $12.2M+64.3% | $12.3M | $7.4M |
| Current Assets | $21.5M+76.3% | $12.2M+80.6% | $12.3M | $6.8M |
| Cash & Equivalents | $10.0M-8.7% | $10.9M+137.8% | $10.4M | $4.6M |
| Short-Term Investments | $0 | $0 | $0 | $0 |
| Inventory | N/A | $242K+1.9% | N/A | $237K |
| Accounts Receivable | $8.6M+725.8% | $1.0M-43.7% | $1.7M | $1.9M |
| Long-Term Investments | $0 | $0 | $0 | $0 |
| Goodwill | $5.6M | N/A | N/A | N/A |
| Total Liabilities | $11.0M+378.7% | $2.3M-33.3% | $2.9M | $3.5M |
| Current Liabilities | $9.1M+295.8% | $2.3M-33.3% | $2.9M | $3.5M |
| Non-Current Liabilities | $1.9M | $0 | $0 | $0 |
| Total Equity | $16.5M+67.0% | $9.9M+149.1% | $9.4M | $4.0M |
| Retained Earnings | $7.1M+41.4% | $5.0M+27.4% | $4.6M | $4.0M |
Not reported in any period shown, so not listed: Long-Term Debt.
RAY 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: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
RAY 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Raytech Holding Limited RAY | FY2026 | $18.2M | $2.1M | 11.7% | $16.4M | 61/100 |
| United-Guardian, Inc. UG | FY2025 | $10.5M | $2.1M | 20.0% | $31.5M | 76/100 |
| Park Ha Biological Technology Co., Ltd. PHH | FY2025 | $2.5M | -$24.4M | N/A | $13.0M | 43/100 |
| Tantech Holdings Ltd. TANH | FY2025 | $38.4M | -$31.0M | -80.9% | $8.6M | 36/100 |
| Grove Collaborative Holdings, Inc. GROV | FY2025 | $173.7M | -$11.7M | -6.7% | $42.4M | 35/100 |
| Big Tree Cloud Holdings Limited DSY | FY2025 | $2.6M | -$32.5M | N/A | $15.7M | 8/100 |
Where Raytech Holding Limited Ranks
Frequently Asked Questions
What is Raytech Holding Limited's annual revenue?
Raytech Holding Limited (RAY) reported $18.2M in total revenue for fiscal year 2026. This represents a 79.8% 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 Raytech Holding Limited's revenue growing?
Raytech Holding Limited (RAY) revenue grew by 79.8% year-over-year, from $10.1M to $18.2M in fiscal year 2026.
Is Raytech Holding Limited profitable?
Yes, Raytech Holding Limited (RAY) reported a net income of $2.1M in fiscal year 2026, with a net profit margin of 11.7%.
What is Raytech Holding Limited's operating margin?
Raytech Holding Limited (RAY) had an operating margin of 12.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Raytech Holding Limited's net profit margin?
Raytech Holding Limited (RAY) had a net profit margin of 11.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Raytech Holding Limited's return on equity (ROE)?
Raytech Holding Limited (RAY) has a return on equity of 12.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Raytech Holding Limited's operating cash flow?
Raytech Holding Limited (RAY) recorded an outflow of $1.9M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
What are Raytech Holding Limited's total assets?
Raytech Holding Limited (RAY) had $27.6M in total assets as of fiscal year 2026, including both current and long-term assets.
What is Raytech Holding Limited's current ratio?
Raytech Holding Limited (RAY) had a current ratio of 2.36 as of fiscal year 2026, which is generally considered healthy.
What is Raytech Holding Limited's debt-to-equity ratio?
Raytech Holding Limited (RAY) had a debt-to-equity ratio of 0.67 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Raytech Holding Limited's return on assets (ROA)?
Raytech Holding Limited (RAY) had a return on assets of 7.7% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Raytech Holding Limited's Altman Z-Score?
Raytech Holding Limited (RAY) has an Altman Z-Score of 2.73, 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 Raytech Holding Limited's Piotroski F-Score?
Raytech Holding Limited (RAY) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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 Raytech Holding Limited's earnings high quality?
For every $1 of reported earnings, Raytech Holding Limited (RAY) used $0.87 of operating cash (-$1.9M OCF vs $2.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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 Raytech Holding Limited cover its interest payments?
Raytech Holding Limited (RAY) has an interest coverage ratio of 74.07x, meaning it can comfortably 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 Raytech Holding Limited?
Raytech Holding Limited (RAY) scores 61 out of 100 on our Financial Health Score, indicating moderate 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.