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S&W Seed Co Financials

SANW
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2025 Currency USD FYE June

This page shows S&W Seed Co (SANW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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

Profitability Growth Leverage Liquidity Cash Flow Returns 19 / 100
Financial Profile 19/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

S&W Seed Co has an operating margin of -29.3%, meaning the company retains $-29 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 -24.4% the prior year.

Growth
4

S&W Seed Co's revenue declined 17.8% year-over-year, from $73.5M to $60.4M. This contraction results in a growth score of 4/100.

Leverage
98

S&W Seed Co carries a low D/E ratio of 0.22, meaning only $0.22 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
13

S&W Seed Co's current ratio of 0.92 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 13/100, which could limit financial flexibility.

Cash Flow
0

While S&W Seed Co generated -$5.6M in operating cash flow, capex of $1.5M consumed most of it, leaving -$7.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

S&W Seed Co generates a -76.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 20.9% the prior year.

Piotroski F-Score Weak
3/9

S&W Seed Co passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality
0.19x

For every $1 of reported earnings, S&W Seed Co generates $0.19 in operating cash flow (-$5.6M OCF vs -$30.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-3.2x

S&W Seed Co earns $-3.2 in operating income for every $1 of interest expense (-$17.7M vs $5.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$60.4M
YoY-17.8%
5Y CAGR-11.2%
10Y CAGR+1.6%

S&W Seed Co generated $60.4M in revenue in fiscal year 2024. This represents a decrease of 17.8% from the prior year.

EBITDA
-$13.4M
YoY-1.7%

S&W Seed Co's EBITDA was -$13.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.7% from the prior year.

Net Income
-$30.0M
YoY-308.4%

S&W Seed Co reported -$30.0M in net income in fiscal year 2024. This represents a decrease of 308.4% from the prior year.

EPS (Diluted)
$-13.21
YoY-307.1%

S&W Seed Co earned $-13.21 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 307.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$7.2M
YoY+63.8%

S&W Seed Co generated -$7.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 63.8% from the prior year.

Cash & Debt
$287K
YoY-91.6%
5Y CAGR-39.1%
10Y CAGR-13.1%

S&W Seed Co held $287K in cash against $8.4M in long-term debt as of fiscal year 2024.

Dividends Per Share
N/A
Shares Outstanding
2M
YoY+0.9%

S&W Seed Co had 2M shares outstanding in fiscal year 2024. This represents an increase of 0.9% from the prior year.

Margins & Returns

Gross Margin
26.2%
YoY+6.4pp
5Y CAGR-10.9pp
10Y CAGR+6.8pp

S&W Seed Co's gross margin was 26.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 6.4 percentage points from the prior year.

Operating Margin
-29.3%
YoY-4.9pp
5Y CAGR-24.7pp
10Y CAGR-31.3pp

S&W Seed Co's operating margin was -29.3% in fiscal year 2024, reflecting core business profitability. This is down 4.9 percentage points from the prior year.

Net Margin
-49.7%
YoY-69.3pp
5Y CAGR-41.2pp
10Y CAGR-50.4pp

S&W Seed Co's net profit margin was -49.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 69.3 percentage points from the prior year.

Return on Equity
-76.5%
YoY-97.4pp
5Y CAGR-67.2pp
10Y CAGR-77.2pp

S&W Seed Co's ROE was -76.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 97.4 percentage points from the prior year.

Capital Allocation

R&D Spending
$4.1M
YoY-22.4%
5Y CAGR-8.3%
10Y CAGR+17.1%

S&W Seed Co invested $4.1M in research and development in fiscal year 2024. This represents a decrease of 22.4% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$1.5M
YoY+80.1%
5Y CAGR+16.0%
10Y CAGR+13.5%

S&W Seed Co invested $1.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 80.1% from the prior year.

SANW Income Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Revenue $9.6M+88.2% $5.1M-38.9% $8.3M-74.1% $32.1M+242.2% $9.4M+13.4% $8.3M-23.2% $10.8M-53.3% $23.1M
Cost of Revenue $5.9M+86.2% $3.2M-54.2% $7.0M-71.9% $24.8M+251.3% $7.1M+49.4% $4.7M-41.1% $8.0M-60.2% $20.2M
Gross Profit $3.6M+91.5% $1.9M+40.9% $1.3M-81.6% $7.2M+214.3% $2.3M-34.7% $3.5M+29.6% $2.7M-4.5% $2.9M
R&D Expenses $735K-11.8% $833K+12.2% $742K-58.6% $1.8M+133.7% $767K+6.0% $724K-7.1% $779K-22.9% $1.0M
SG&A Expenses $3.0M-37.0% $4.7M+17.1% $4.0M-57.3% $9.4M+136.5% $4.0M-6.7% $4.2M+2.2% $4.2M-19.2% $5.1M
Operating Income -$663K+84.7% -$4.3M-2.6% -$4.2M+54.3% -$9.3M-185.8% -$3.2M-46.9% -$2.2M+26.3% -$3.0M+31.7% -$4.4M
Interest Expense $657K-20.9% $830K+9.0% $762K-75.6% $3.1M+321.4% $740K+3.9% $712K-24.9% $949K-16.9% $1.1M
Income Tax $4K+147.0% $2K+35.8% $1K-99.8% $505K+29262.2% $2K-6.2% $2K+114.9% -$12K-110.2% $120K
Net Income -$2.2M-34.6% -$1.7M+89.8% -$16.2M-34.0% -$12.1M-120.2% -$5.5M+15.0% -$6.5M-8.7% -$5.9M+17.5% -$7.2M
EPS (Diluted) $-1.04-44.4% $-0.72+89.9% $-7.11 N/A $-2.41+15.4% $-2.85-8.4% $-2.63 N/A

SANW Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Total Assets $69.6M-5.1% $73.3M-24.1% $96.6M-20.0% $120.7M-9.4% $133.2M-7.3% $143.7M-3.5% $148.8M-2.1% $152.0M
Current Assets $31.5M-8.0% $34.2M-26.6% $46.6M-26.5% $63.4M-7.7% $68.7M-10.9% $77.1M-6.2% $82.1M-2.3% $84.1M
Cash & Equivalents $354K-74.6% $1.4M+190.0% $480K+67.7% $287K+67.5% $171K-84.7% $1.1M+12.9% $987K-70.9% $3.4M
Inventory $16.9M-19.8% $21.0M-20.8% $26.5M+17.3% $22.6M-48.0% $43.5M-5.5% $46.0M+7.1% $42.9M-4.8% $45.1M
Accounts Receivable $11.4M+36.3% $8.4M-49.5% $16.6M+13.3% $14.6M-34.8% $22.5M+12.4% $20.0M-28.5% $27.9M+13.5% $24.6M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $36.6M-4.4% $38.3M-36.3% $60.2M-20.5% $75.7M-0.9% $76.4M-6.2% $81.4M+1.0% $80.6M+3.5% $77.9M
Current Liabilities $31.4M-5.3% $33.2M-39.6% $54.9M-20.7% $69.2M-0.6% $69.7M-6.4% $74.4M+1.4% $73.4M+3.0% $71.3M
Long-Term Debt $4.5M-0.7% $4.6M-0.8% $4.6M-45.5% $8.4M-2.7% $8.7M+0.7% $8.6M+7.6% $8.0M+1.2% $7.9M
Total Equity $26.8M-7.4% $29.0M-5.1% $30.5M-22.3% $39.3M-23.3% $51.2M-9.8% $56.8M-9.6% $62.8M-8.7% $68.8M
Retained Earnings -$142.6M-1.7% -$140.2M-1.3% -$138.4M-13.4% -$122.1M-11.1% -$109.9M-5.1% -$104.6M-6.7% -$98.0M-6.6% -$91.9M

SANW Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Operating Cash Flow -$3.0M-191.0% $3.3M+614.1% -$650K-1078.0% -$55K+99.3% -$8.3M-526.2% $2.0M+146.0% $795K+125.2% -$3.1M
Capital Expenditures $13K-77.4% $57K-58.7% $138K-89.0% $1.3M+2197.1% $55K-53.8% $118K+1.5% $116K+268.5% -$69K
Free Cash Flow -$3.1M-192.9% $3.3M+516.8% -$788K+39.8% -$1.3M+84.4% -$8.4M-556.5% $1.8M+170.8% $678K+121.1% -$3.2M
Investing Cash Flow -$13K+70.3% -$43K+50.3% -$87K-208.1% $81K-98.8% $6.8M+892.9% -$858K-484.5% -$147K-1418.0% $11K
Financing Cash Flow $4.5M+192.2% -$4.9M-621.4% $931K+864.1% $97K+104.8% -$2.0M-220.6% $1.7M+153.7% -$3.1M-157.6% $5.4M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $0 N/A N/A N/A $0 N/A N/A N/A

SANW Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Gross Margin 37.7%+0.7pp 37.1%+21.0pp 16.1%-6.5pp 22.6%-2.0pp 24.6%-18.1pp 42.8%+17.4pp 25.3%+13.0pp 12.4%
Operating Margin -6.9%+78.6pp -85.6%-34.6pp -50.9%-22.1pp -28.9%+5.7pp -34.6%-7.9pp -26.7%+1.1pp -27.8%-8.8pp -19.0%
Net Margin -23.4%+9.3pp -32.7%+162.6pp -195.3%-157.5pp -37.8%+20.9pp -58.7%+19.6pp -78.3%-23.0pp -55.3%-24.0pp -31.3%
Return on Equity -8.3%-2.6pp -5.7%+47.5pp -53.2%-22.3pp -30.9%-20.1pp -10.7%+0.7pp -11.4%-1.9pp -9.5%+1.0pp -10.5%
Return on Assets -3.2%-0.9pp -2.3%+14.5pp -16.8%-6.8pp -10.0%-5.9pp -4.1%+0.4pp -4.5%-0.5pp -4.0%+0.8pp -4.8%
Current Ratio 1.00-0.0 1.03+0.2 0.85-0.1 0.92-0.1 0.99-0.0 1.04-0.1 1.12-0.1 1.18
Debt-to-Equity 0.17+0.0 0.160.0 0.15-0.1 0.22+0.0 0.17+0.0 0.15+0.0 0.13+0.0 0.11
FCF Margin -32.0%-96.7pp 64.7%+74.2pp -9.5%-5.4pp -4.1%+85.4pp -89.5%-111.8pp 22.2%+15.9pp 6.3%+20.3pp -14.0%

Note: The current ratio is below 1.0 (0.92), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

S&W Seed Co (SANW) reported $60.4M in total revenue for fiscal year 2024. This represents a -17.8% 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.

S&W Seed Co (SANW) revenue declined by 17.8% year-over-year, from $73.5M to $60.4M in fiscal year 2024.

No, S&W Seed Co (SANW) reported a net income of -$30.0M in fiscal year 2024, with a net profit margin of -49.7%.

S&W Seed Co (SANW) reported diluted earnings per share of $-13.21 for fiscal year 2024. This represents a -307.1% change compared to the previous fiscal year. 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.

S&W Seed Co (SANW) had EBITDA of -$13.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2024, S&W Seed Co (SANW) had $287K in cash and equivalents against $8.4M in long-term debt.

S&W Seed Co (SANW) had a gross margin of 26.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

S&W Seed Co (SANW) had an operating margin of -29.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

S&W Seed Co (SANW) had a net profit margin of -49.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

S&W Seed Co (SANW) has a return on equity of -76.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

S&W Seed Co (SANW) generated -$7.2M in free cash flow during fiscal year 2024. This represents a 63.8% 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.

S&W Seed Co (SANW) generated -$5.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

S&W Seed Co (SANW) had $120.7M in total assets as of fiscal year 2024, including both current and long-term assets.

S&W Seed Co (SANW) invested $1.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

S&W Seed Co (SANW) invested $4.1M in research and development during fiscal year 2024.

S&W Seed Co (SANW) had 2M shares outstanding as of fiscal year 2024.

S&W Seed Co (SANW) had a current ratio of 0.92 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

S&W Seed Co (SANW) had a debt-to-equity ratio of 0.22 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

S&W Seed Co (SANW) had a return on assets of -24.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2024 data, S&W Seed Co (SANW) had $287K in cash against an annual operating cash burn of $5.6M. 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.

S&W Seed Co (SANW) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

S&W Seed Co (SANW) has an earnings quality ratio of 0.19x, 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.

S&W Seed Co (SANW) has an interest coverage ratio of -3.2x, 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.

S&W Seed Co (SANW) scores 19 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.

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