Origin Agritech Financials

SEED

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE September

Financial Health Signals

Piotroski F-Score Weak

2/9

Origin Agritech passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.43x

For every $1 of reported earnings, Origin Agritech generates $0.43 in operating cash flow (-$3.2M OCF vs -$7.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Origin Agritech (SEED) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

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Key Financial Metrics

Revenue

$12.8M

YoY-20.6%

5Y CAGR+10.8%

10Y CAGR-14.2%

Origin Agritech generated $12.8M in revenue in fiscal year 2025. This represents a decrease of 20.6% from the prior year.

EBITDA

N/A

Free Cash Flow

-$4.8M

YoY-68.0%

Origin Agritech generated -$4.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 68.0% from the prior year.

Net Income

-$7.5M

YoY-354.0%

Origin Agritech reported -$7.5M in net income in fiscal year 2025. This represents a decrease of 354.0% from the prior year.

EPS (Diluted)

$-1.00

YoY-317.4%

Origin Agritech earned $-1.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 317.4% from the prior year.

Cash & Debt

$2.2M

YoY+86.9%

5Y CAGR-7.5%

10Y CAGR-13.8%

Origin Agritech held $2.2M in cash against $1.5M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

12M

YoY+81.7%

5Y CAGR+16.9%

Origin Agritech had 12M shares outstanding in fiscal year 2025. This represents an increase of 81.7% from the prior year.

Gross Margin

7.0%

YoY-7.2pp

5Y CAGR+0.3pp

10Y CAGR-22.8pp

Origin Agritech's gross margin was 7.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 7.2 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-58.4%

YoY-76.7pp

5Y CAGR+103.9pp

10Y CAGR-54.8pp

Origin Agritech's net profit margin was -58.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 76.7 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$1.8M

YoY+27.0%

5Y CAGR+24.9%

10Y CAGR-13.3%

Origin Agritech invested $1.8M in research and development in fiscal year 2025. This represents an increase of 27.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.6M

YoY+122.3%

10Y CAGR-3.8%

Origin Agritech invested $1.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 122.3% from the prior year.

SEED Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$12.8M-20.6%	$16.2M+24.5%	$13.0M+75.5%	$7.4M+3.5%	$7.2M-7.2%	$7.7M
Cost of Revenue	$11.9M-14.0%	$13.9M+31.1%	$10.6M+106.7%	$5.1M-1.1%	$5.2M-28.0%	$7.2M
Gross Profit	$900K-60.8%	$2.3M-4.5%	$2.4M+5.3%	$2.3M+15.5%	$2.0M+282.8%	$516K
R&D Expenses	$1.8M+27.0%	$1.4M+39.3%	$1.0M-1.0%	$1.0M+243.3%	$305K-49.5%	$604K
SG&A Expenses	$5.7M+10.1%	$5.1M+159.0%	$2.0M-1.7%	$2.0M-82.2%	$11.3M+32.6%	$8.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	-$137K-111.8%	$1.2M-12.2%	$1.3M+55.1%	$851K
Income Tax	-$41K-555.6%	$9K-60.9%	$23K+1250.0%	-$2K-107.4%	$27K-56.5%	$62K
Net Income	-$7.5M-354.0%	$3.0M-61.7%	$7.7M+973.7%	-$882K+93.8%	-$14.1M-12.7%	-$12.5M
EPS (Diluted)	$-1.00-317.4%	$0.46-60.7%	$1.17+880.0%	$-0.15+94.0%	$-2.51	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Revenue	N/A	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	N/A
Gross Profit	N/A	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	N/A
SG&A Expenses	N/A	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	N/A
Interest Expense	N/A	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	N/A
Net Income	N/A	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	N/A

SEED Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$14.2M-24.6%	$18.8M-43.5%	$33.2M+73.5%	$19.1M+4.3%	$18.4M-51.0%	$37.4M
Current Assets	$9.3M-34.7%	$14.2M-27.9%	$19.7M+71.9%	$11.5M+28.1%	$9.0M-5.2%	$9.5M
Cash & Equivalents	$2.2M+86.9%	$1.2M-63.8%	$3.3M+32.7%	$2.5M+5.2%	$2.4M-28.3%	$3.3M
Inventory	$2.0M+10.6%	$1.8M+1.2%	$1.8M+511.4%	$297K-53.9%	$644K-67.7%	$2.0M
Accounts Receivable	$486K-15.5%	$575K+391.5%	$117K+34.5%	$87K+117.5%	$40K-91.2%	$457K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$17.4M-35.7%	$27.1M-39.1%	$44.5M+17.2%	$38.0M-5.1%	$40.0M-19.9%	$50.0M
Current Liabilities	$21.0M-20.1%	$26.3M-39.8%	$43.7M+5.8%	$41.3M-6.6%	$44.2M+69.9%	$26.0M
Long-Term Debt	$1.5M+77.8%	$830K-3.5%	$860K-57.1%	$2.0M	N/A	$20.2M
Total Equity	-$3.3M+26.4%	-$4.5M+44.1%	-$8.0M+57.6%	-$18.9M+13.1%	-$21.7M-91.4%	-$11.3M
Retained Earnings	-$89.3M-7.7%	-$82.9M+1.1%	-$83.8M+9.4%	-$92.5M+7.8%	-$100.3M-22.2%	-$82.1M

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Total Assets	$14.2M-24.6%	$18.8M-43.5%	$33.2M+73.5%	$19.1M+4.3%	$18.4M-51.0%	$37.4M+1.4%	$36.9M-41.0%	$62.5M
Current Assets	$9.3M-34.7%	$14.2M-27.9%	$19.7M+71.9%	$11.5M+28.1%	$9.0M-5.2%	$9.5M-3.4%	$9.8M-68.7%	$31.2M
Cash & Equivalents	$2.2M+86.9%	$1.2M-63.8%	$3.3M+32.7%	$2.5M+5.2%	$2.4M-28.3%	$3.3M+631.9%	$451K+56.1%	$289K
Inventory	$2.0M+10.6%	$1.8M+1.2%	$1.8M+511.4%	$297K-53.9%	$644K-67.7%	$2.0M-50.6%	$4.0M-66.1%	$11.9M
Accounts Receivable	$486K-15.5%	$575K+391.5%	$117K+34.5%	$87K+117.5%	$40K-91.2%	$457K+118.7%	$209K	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$17.4M-35.7%	$27.1M-39.1%	$44.5M+17.2%	$38.0M-5.1%	$40.0M-19.9%	$50.0M+27.8%	$39.1M-40.7%	$65.9M
Current Liabilities	$21.0M-20.1%	$26.3M-39.8%	$43.7M+5.8%	$41.3M-6.6%	$44.2M+69.9%	$26.0M-25.8%	$35.0M-44.2%	$62.8M
Long-Term Debt	$1.5M+77.8%	$830K-3.5%	$860K-57.1%	$2.0M	N/A	$20.2M	N/A	$0
Total Equity	-$3.3M+26.4%	-$4.5M+44.1%	-$8.0M+57.6%	-$18.9M+13.1%	-$21.7M-91.4%	-$11.3M-253.2%	-$3.2M+10.7%	-$3.6M
Retained Earnings	-$89.3M-7.7%	-$82.9M+1.1%	-$83.8M+9.4%	-$92.5M+7.8%	-$100.3M-22.2%	-$82.1M-22.5%	-$67.0M-12.0%	-$59.9M

SEED Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$3.2M-50.1%	-$2.1M-182.3%	-$759K-263.2%	$465K+112.0%	-$3.9M-369.4%	-$824K
Capital Expenditures	$1.6M+122.3%	$710K-42.8%	$1.2M+1310.2%	$88K-20.0%	$110K	$0
Free Cash Flow	-$4.8M-68.0%	-$2.9M-42.6%	-$2.0M-630.5%	$377K+109.5%	-$4.0M-382.8%	-$824K
Investing Cash Flow	-$1.9M-172.1%	-$710K+54.6%	-$1.6M-901.9%	-$156K+16.1%	-$186K+97.0%	-$6.2M
Financing Cash Flow	$6.2M+874.4%	$640K-80.0%	$3.2M+6893.6%	-$47K-101.5%	$3.1M-68.4%	$9.7M
Dividends Paid	$153K+118.6%	$70K+150.0%	$28K-91.8%	$343K	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Operating Cash Flow	N/A	N/A	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	N/A	N/A
Free Cash Flow	N/A	N/A	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	N/A	N/A
Financing Cash Flow	N/A	N/A	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	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SEED Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	7.0%-7.2pp	14.2%-4.3pp	18.5%-12.3pp	30.8%+3.2pp	27.6%+20.9pp	6.7%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-58.4%-76.7pp	18.3%-41.0pp	59.3%+71.2pp	-11.9%+185.3pp	-197.2%-34.8pp	-162.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-53.0%-68.7pp	15.7%-7.5pp	23.2%+27.8pp	-4.6%+72.3pp	-76.9%-43.4pp	-33.5%
Current Ratio	0.44-0.1	0.54+0.1	0.45+0.2	0.28+0.1	0.20-0.2	0.36
Debt-to-Equity	-0.45-0.3	-0.19-0.1	-0.110.0	-0.11+1.7	-1.85-0.1	-1.78
FCF Margin	-37.3%-19.7pp	-17.6%-2.2pp	-15.4%-20.5pp	5.1%+60.7pp	-55.6%-44.9pp	-10.7%

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Gross Margin	N/A	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	N/A
Net Margin	N/A	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	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	0.44-0.1	0.54+0.1	0.45+0.2	0.28+0.1	0.20-0.2	0.36+0.1	0.28-0.2	0.50
Debt-to-Equity	-0.45-0.3	-0.19-0.1	-0.110.0	-0.11+1.7	-1.85-0.1	-1.78+10.4	-12.19-12.2	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$3.3M), 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 (0.44), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Origin Agritech's annual revenue?

Origin Agritech (SEED) reported $12.8M in total revenue for fiscal year 2025. This represents a -20.6% 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 Origin Agritech's revenue growing?

Origin Agritech (SEED) revenue declined by 20.6% year-over-year, from $16.2M to $12.8M in fiscal year 2025.

Is Origin Agritech profitable?

No, Origin Agritech (SEED) reported a net income of -$7.5M in fiscal year 2025, with a net profit margin of -58.4%.

What is Origin Agritech's earnings per share (EPS)?

Origin Agritech (SEED) reported diluted earnings per share of $-1.00 for fiscal year 2025. This represents a -317.4% 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.

How much debt does Origin Agritech have?

As of fiscal year 2025, Origin Agritech (SEED) had $2.2M in cash and equivalents against $1.5M in long-term debt.

What is Origin Agritech's gross margin?

Origin Agritech (SEED) had a gross margin of 7.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Origin Agritech's net profit margin?

Origin Agritech (SEED) had a net profit margin of -58.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Origin Agritech's free cash flow?

Origin Agritech (SEED) generated -$4.8M in free cash flow during fiscal year 2025. This represents a -68.0% 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 Origin Agritech's operating cash flow?

Origin Agritech (SEED) generated -$3.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Origin Agritech's total assets?

Origin Agritech (SEED) had $14.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Origin Agritech's capital expenditures?

Origin Agritech (SEED) invested $1.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Origin Agritech spend on research and development?

Origin Agritech (SEED) invested $1.8M in research and development during fiscal year 2025.

How many shares does Origin Agritech have outstanding?

Origin Agritech (SEED) had 12M shares outstanding as of fiscal year 2025.

What is Origin Agritech's current ratio?

Origin Agritech (SEED) had a current ratio of 0.44 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Origin Agritech's debt-to-equity ratio?

Origin Agritech (SEED) had a debt-to-equity ratio of -0.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Origin Agritech's return on assets (ROA)?

Origin Agritech (SEED) had a return on assets of -53.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Origin Agritech's cash runway?

Based on fiscal year 2025 data, Origin Agritech (SEED) had $2.2M in cash against an annual operating cash burn of $3.2M. This gives an estimated cash runway of approximately 8 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 Origin Agritech's debt-to-equity ratio negative or unusual?

Origin Agritech (SEED) has negative shareholder equity of -$3.3M 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 Origin Agritech's Piotroski F-Score?

Origin Agritech (SEED) 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 Origin Agritech's earnings high quality?

Origin Agritech (SEED) has an earnings quality ratio of 0.43x, 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.