Erayak Power Sol Financials
This page shows Erayak Power Sol (RAYA) 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Erayak Power Sol has an operating margin of -5.2%, meaning the company retains $-5 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 3.7% the prior year.
Erayak Power Sol's revenue surged 49.1% year-over-year to $30.3M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Erayak Power Sol carries a low D/E ratio of 0.15, meaning only $0.15 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.
With a current ratio of 2.13, Erayak Power Sol holds $2.13 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.
While Erayak Power Sol generated -$15.9M in operating cash flow, capex of $518K consumed most of it, leaving -$16.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Erayak Power Sol passes 2 of 9 financial strength tests. No profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Erayak Power Sol generates $14.23 in operating cash flow (-$15.9M OCF vs -$1.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Erayak Power Sol earns $-11.2 in operating income for every $1 of interest expense (-$1.6M vs $139K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Erayak Power Sol generated $30.3M in revenue in fiscal year 2024. This represents an increase of 49.1% from the prior year.
Erayak Power Sol's EBITDA was -$1.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 199.9% from the prior year.
Erayak Power Sol generated -$16.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 371.2% from the prior year.
Erayak Power Sol reported -$1.1M in net income in fiscal year 2024. This represents a decrease of 191.6% from the prior year.
Erayak Power Sol held $1.3M in cash against $3.9M in long-term debt as of fiscal year 2024.
Erayak Power Sol's gross margin was 13.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 11.5 percentage points from the prior year.
Erayak Power Sol's operating margin was -5.2% in fiscal year 2024, reflecting core business profitability. This is down 8.8 percentage points from the prior year.
Erayak Power Sol's net profit margin was -3.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9.7 percentage points from the prior year.
Erayak Power Sol invested $1.7M in research and development in fiscal year 2024. This represents an increase of 41.9% from the prior year.
Erayak Power Sol invested $518K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 24.3% from the prior year.
RAYA Income Statement
| Metric | Q2'25 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Revenue | 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 |
| Gross Profit | 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 |
| SG&A Expenses | 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 |
| Interest Expense | 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 |
| Net Income | 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 |
RAYA Balance Sheet
| Metric | Q2'25 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Total Assets | $49.2M+6.9% | $46.0M+30.5% | $35.3M+1.5% | $34.8M-7.6% | $37.6M+60.2% | $23.5M |
| Current Assets | $35.9M+8.5% | $33.1M+49.7% | $22.1M0.0% | $22.1M-21.8% | $28.2M+109.2% | $13.5M |
| Cash & Equivalents | $422K-68.1% | $1.3M-77.5% | $5.9M+1.8% | $5.8M-18.3% | $7.1M+36.6% | $5.2M |
| Inventory | $8.9M+0.8% | $8.8M+25.2% | $7.1M+3.0% | $6.9M+10.0% | $6.2M+59.6% | $3.9M |
| Accounts Receivable | $13.5M+11.8% | $12.0M+92.5% | $6.3M+5.8% | $5.9M-40.7% | $10.0M+468.0% | $1.8M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $22.8M+17.2% | $19.4M+28.9% | $15.1M-3.3% | $15.6M-14.6% | $18.3M+10.2% | $16.6M |
| Current Liabilities | $16.7M+7.8% | $15.5M+17.6% | $13.2M-12.8% | $15.2M-16.0% | $18.0M+52.0% | $11.9M |
| Long-Term Debt | $6.0M+54.6% | $3.9M+109.1% | $1.9M+322.5% | $443K+103.6% | $218K-95.4% | $4.7M |
| Total Equity | $26.4M-0.7% | $26.6M+31.6% | $20.2M+5.4% | $19.2M-1.0% | $19.3M+180.6% | $6.9M |
| Retained Earnings | N/A | $8.1M-11.5% | $9.2M | N/A | N/A | N/A |
RAYA Cash Flow Statement
| Metric | Q2'25 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | 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 |
RAYA Financial Ratios
| Metric | Q2'25 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Gross Margin | 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 |
| Net Margin | 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 |
| Return on Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 2.14+0.0 | 2.13+0.5 | 1.67+0.2 | 1.46-0.1 | 1.56+0.4 | 1.14 |
| Debt-to-Equity | 0.23+0.1 | 0.15+0.1 | 0.09+0.1 | 0.02+0.0 | 0.01-0.7 | 0.68 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Erayak Power Sol's annual revenue?
Erayak Power Sol (RAYA) reported $30.3M in total revenue for fiscal year 2024. This represents a 49.1% 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 Erayak Power Sol's revenue growing?
Erayak Power Sol (RAYA) revenue grew by 49.1% year-over-year, from $20.3M to $30.3M in fiscal year 2024.
Is Erayak Power Sol profitable?
No, Erayak Power Sol (RAYA) reported a net income of -$1.1M in fiscal year 2024, with a net profit margin of -3.7%.
What is Erayak Power Sol's EBITDA?
Erayak Power Sol (RAYA) had EBITDA of -$1.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Erayak Power Sol have?
As of fiscal year 2024, Erayak Power Sol (RAYA) had $1.3M in cash and equivalents against $3.9M in long-term debt.
What is Erayak Power Sol's gross margin?
Erayak Power Sol (RAYA) had a gross margin of 13.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Erayak Power Sol's operating margin?
Erayak Power Sol (RAYA) had an operating margin of -5.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Erayak Power Sol's net profit margin?
Erayak Power Sol (RAYA) had a net profit margin of -3.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Erayak Power Sol's free cash flow?
Erayak Power Sol (RAYA) generated -$16.4M in free cash flow during fiscal year 2024. This represents a -371.2% 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 Erayak Power Sol's operating cash flow?
Erayak Power Sol (RAYA) generated -$15.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Erayak Power Sol's total assets?
Erayak Power Sol (RAYA) had $46.0M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Erayak Power Sol's capital expenditures?
Erayak Power Sol (RAYA) invested $518K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Erayak Power Sol spend on research and development?
Erayak Power Sol (RAYA) invested $1.7M in research and development during fiscal year 2024.
What is Erayak Power Sol's current ratio?
Erayak Power Sol (RAYA) had a current ratio of 2.13 as of fiscal year 2024, which is generally considered healthy.
What is Erayak Power Sol's debt-to-equity ratio?
Erayak Power Sol (RAYA) had a debt-to-equity ratio of 0.15 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Erayak Power Sol's return on assets (ROA)?
Erayak Power Sol (RAYA) had a return on assets of -2.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Erayak Power Sol's cash runway?
Based on fiscal year 2024 data, Erayak Power Sol (RAYA) had $1.3M in cash against an annual operating cash burn of $15.9M. 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.
What is Erayak Power Sol's Piotroski F-Score?
Erayak Power Sol (RAYA) has a Piotroski F-Score of 2 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Erayak Power Sol's earnings high quality?
Erayak Power Sol (RAYA) has an earnings quality ratio of 14.23x, 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.
Can Erayak Power Sol cover its interest payments?
Erayak Power Sol (RAYA) has an interest coverage ratio of -11.2x, meaning it can struggle to 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 Erayak Power Sol?
Erayak Power Sol (RAYA) scores 53 out of 100 on our Financial Profile, indicating moderate 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.