What is SHENGFENG DEV LTD's earnings per share (EPS)?

SHENGFENG DEV LTD (SFWL) reported diluted earnings per share of $0.14 for fiscal year 2025. 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.

SHENGFENG DEV LTD Financials

SFWL

Source SEC Filings (10-K/10-Q) Updated Mar 27, 2026 Currency USD FYE March

This page shows SHENGFENG DEV LTD (SFWL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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

Financial Profile 42/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

SHENGFENG DEV LTD has an operating margin of 3.0%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is up from 2.9% the prior year.

Growth

SHENGFENG DEV LTD's revenue grew 10.0% year-over-year to $554.8M, a solid pace of expansion. This earns a growth score of 50/100.

Leverage

SHENGFENG DEV LTD carries a low D/E ratio of 0.26, meaning only $0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

SHENGFENG DEV LTD's current ratio of 1.27 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.

Cash Flow

While SHENGFENG DEV LTD generated $16.1M in operating cash flow, capex of $19.0M consumed most of it, leaving -$2.9M in free cash flow. This results in a low score of 24/100, reflecting heavy capital investment rather than weak cash generation.

Returns

SHENGFENG DEV LTD's ROE of 9.0% shows moderate profitability relative to equity, earning a score of 31/100. This is down from 9.3% the prior year.

Altman Z-Score Grey Zone

2.34

SHENGFENG DEV LTD scores 2.34, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

5/9

SHENGFENG DEV LTD passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.35x

For every $1 of reported earnings, SHENGFENG DEV LTD generates $1.35 in operating cash flow ($16.1M OCF vs $11.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

6.2x

SHENGFENG DEV LTD earns $6.2 in operating income for every $1 of interest expense ($16.9M vs $2.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$554.8M

YoY+10.0%

5Y CAGR+14.1%

SHENGFENG DEV LTD generated $554.8M in revenue in fiscal year 2025. This represents an increase of 10.0% from the prior year.

EBITDA

$23.3M

YoY+10.9%

5Y CAGR+16.3%

SHENGFENG DEV LTD's EBITDA was $23.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.9% from the prior year.

Net Income

$11.9M

YoY+9.6%

5Y CAGR+14.6%

SHENGFENG DEV LTD reported $11.9M in net income in fiscal year 2025. This represents an increase of 9.6% from the prior year.

EPS (Diluted)

$0.14

5Y CAGR+11.8%

SHENGFENG DEV LTD earned $0.14 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$2.9M

YoY+80.1%

SHENGFENG DEV LTD generated -$2.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 80.1% from the prior year.

Cash & Debt

$35.3M

YoY+1.8%

5Y CAGR+4.9%

SHENGFENG DEV LTD held $35.3M in cash against $33.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

41M

SHENGFENG DEV LTD had 41M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

9.6%

YoY+0.4pp

5Y CAGR-2.9pp

SHENGFENG DEV LTD's gross margin was 9.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.

Operating Margin

3.0%

YoY+0.1pp

5Y CAGR+0.9pp

SHENGFENG DEV LTD's operating margin was 3.0% in fiscal year 2025, reflecting core business profitability. This is up 0.1 percentage points from the prior year.

Net Margin

2.1%

YoY-0.0pp

5Y CAGR+0.0pp

SHENGFENG DEV LTD's net profit margin was 2.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.0 percentage points from the prior year.

Return on Equity

9.0%

YoY-0.3pp

5Y CAGR+1.9pp

SHENGFENG DEV LTD's ROE was 9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$19.0M

YoY-35.6%

5Y CAGR+19.1%

SHENGFENG DEV LTD invested $19.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 35.6% from the prior year.

SFWL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$554.8M+10.0%	$504.2M+24.8%	$404.1M+9.1%	$370.3M+6.8%	$346.7M+20.6%	$287.5M
Cost of Revenue	$519.4M+13.4%	$457.9M+28.0%	$357.6M+8.8%	$328.8M+7.7%	$305.4M+21.4%	$251.5M
Gross Profit	$53.1M+14.7%	$46.3M-0.5%	$46.5M+12.0%	$41.5M+0.5%	$41.3M+14.9%	$36.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$30.2M+17.8%	$25.7M-1.0%	$25.9M+6.8%	$24.3M-3.1%	$25.0M+5.9%	$23.6M
Operating Income	$16.9M+15.1%	$14.7M+5.5%	$13.9M+41.2%	$9.8M+14.7%	$8.6M+38.4%	$6.2M
Interest Expense	$2.7M+38.7%	$2.0M+11.1%	$1.8M-20.3%	$2.2M-3.8%	$2.3M+16.3%	$2.0M
Income Tax	$2.0M+22.9%	$1.7M-28.2%	$2.3M+45.1%	$1.6M+5.4%	$1.5M-3.4%	$1.6M
Net Income	$11.9M+9.6%	$10.9M+5.7%	$10.3M+32.2%	$7.8M+17.2%	$6.6M+9.9%	$6.0M
EPS (Diluted)	$0.14	N/A	$0.13+30.0%	$0.10+11.1%	$0.09+12.5%	$0.08

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
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

SFWL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$347.0M+11.9%	$310.1M+16.7%	$265.8M+8.4%	$245.3M+0.4%	$244.2M	N/A
Current Assets	$216.6M+5.5%	$205.2M+37.6%	$149.1M+9.9%	$135.7M+11.5%	$121.7M	N/A
Cash & Equivalents	$35.3M+1.8%	$34.7M+29.7%	$26.7M+25.6%	$21.3M+12.5%	$18.9M-31.9%	$27.8M
Inventory	N/A	N/A	N/A	$9.4M+15.5%	$8.2M+7.2%	$7.6M
Accounts Receivable	$136.3M+7.0%	$127.3M+30.3%	$97.7M+9.6%	$89.1M+10.5%	$80.6M	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$208.1M+11.5%	$186.7M+21.6%	$153.5M+2.2%	$150.2M+1.3%	$148.3M	N/A
Current Liabilities	$170.6M+4.9%	$162.7M+19.3%	$136.4M+4.3%	$130.8M+4.3%	$125.4M	N/A
Long-Term Debt	$33.8M+106.4%	$16.4M-54.6%	$36.1M-24.2%	$47.7M+3.7%	$46.0M	N/A
Total Equity	$131.9M+12.6%	$117.1M+8.5%	$107.9M+18.3%	$91.2M-0.4%	$91.6M+8.5%	$84.4M
Retained Earnings	$47.0M+29.0%	$36.5M+36.6%	$26.7M+54.5%	$17.3M+72.2%	$10.0M	N/A

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
Total Assets	$296.4M-4.4%	$310.1M+17.6%	$263.8M-0.8%	$265.8M+15.7%	$229.8M-6.3%	$245.3M+0.4%	$244.2M
Current Assets	$190.0M-7.4%	$205.2M+28.9%	$159.2M+6.8%	$149.1M+14.1%	$130.7M-3.7%	$135.7M+11.5%	$121.7M
Cash & Equivalents	$14.3M-58.7%	$34.7M+210.2%	$11.2M-58.2%	$26.7M-8.1%	$29.1M+36.6%	$21.3M+12.5%	$18.9M
Inventory	N/A	N/A	N/A	N/A	$7.9M-16.5%	$9.4M+15.5%	$8.2M
Accounts Receivable	$124.6M-2.1%	$127.3M+18.7%	$107.3M+9.8%	$97.7M+28.9%	$75.8M-15.0%	$89.1M+10.5%	$80.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$166.3M-10.9%	$186.7M+27.7%	$146.2M-4.8%	$153.5M+24.1%	$123.7M-17.6%	$150.2M+1.3%	$148.3M
Current Liabilities	$144.1M-11.4%	$162.7M+33.2%	$122.2M-10.4%	$136.4M+25.7%	$108.5M-17.0%	$130.8M+4.3%	$125.4M
Long-Term Debt	$16.0M-2.1%	$16.4M+78.9%	$9.2M-74.6%	$36.1M	N/A	$47.7M+3.7%	$46.0M
Total Equity	$123.5M+5.4%	$117.1M+4.3%	$112.3M+4.0%	$107.9M+5.9%	$102.0M+11.8%	$91.2M-0.4%	$91.6M
Retained Earnings	$42.3M+16.1%	$36.5M+14.9%	$31.7M+18.9%	$26.7M+12.5%	$23.7M+37.3%	$17.3M+72.2%	$10.0M

SFWL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$16.1M+7.3%	$15.0M+6.2%	$14.1M+193.8%	$4.8M-76.4%	$20.4M+774.5%	$2.3M
Capital Expenditures	$19.0M-35.6%	$29.5M+173.3%	$10.8M+56.1%	$6.9M-69.4%	$22.6M+185.1%	$7.9M
Free Cash Flow	-$2.9M+80.1%	-$14.5M-530.8%	$3.4M+260.0%	-$2.1M+4.1%	-$2.2M+60.9%	-$5.6M
Investing Cash Flow	-$37.4M-14.7%	-$32.6M-73.4%	-$18.8M-180.3%	-$6.7M+75.7%	-$27.7M-253.8%	-$7.8M
Financing Cash Flow	$18.8M-35.3%	$29.1M+160.3%	$11.2M+36.7%	$8.2M+484.0%	-$2.1M-116.2%	$13.1M
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

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
Operating Cash Flow	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
Free Cash Flow	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
Financing Cash Flow	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
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SFWL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	9.6%+0.4pp	9.2%-2.3pp	11.5%+0.3pp	11.2%-0.7pp	11.9%-0.6pp	12.5%
Operating Margin	3.0%+0.1pp	2.9%-0.5pp	3.4%+0.8pp	2.7%+0.2pp	2.5%+0.3pp	2.2%
Net Margin	2.1%-0.0pp	2.2%-0.4pp	2.5%+0.4pp	2.1%+0.2pp	1.9%-0.2pp	2.1%
Return on Equity	9.0%-0.3pp	9.3%-0.3pp	9.5%+1.0pp	8.5%+1.3pp	7.2%+0.1pp	7.2%
Return on Assets	3.4%-0.1pp	3.5%-0.4pp	3.9%+0.7pp	3.2%+0.5pp	2.7%	N/A
Current Ratio	1.270.0	1.26+0.2	1.09+0.1	1.04+0.1	0.97	N/A
Debt-to-Equity	0.26+0.1	0.14-0.2	0.33-0.2	0.52+0.0	0.50	N/A
FCF Margin	-0.5%+2.4pp	-2.9%-3.7pp	0.8%+1.4pp	-0.6%+0.1pp	-0.6%+1.3pp	-1.9%

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
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	1.32+0.1	1.26-0.0	1.30+0.2	1.09-0.1	1.20+0.2	1.04+0.1	0.97
Debt-to-Equity	0.13-0.0	0.14+0.1	0.08-0.3	0.33-0.9	1.21+0.7	0.52+0.0	0.50
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is SHENGFENG DEV LTD's annual revenue?

SHENGFENG DEV LTD (SFWL) reported $554.8M in total revenue for fiscal year 2025. This represents a 10.0% 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 SHENGFENG DEV LTD's revenue growing?

SHENGFENG DEV LTD (SFWL) revenue grew by 10% year-over-year, from $504.2M to $554.8M in fiscal year 2025.

Is SHENGFENG DEV LTD profitable?

Yes, SHENGFENG DEV LTD (SFWL) reported a net income of $11.9M in fiscal year 2025, with a net profit margin of 2.1%.

What is SHENGFENG DEV LTD's EBITDA?

SHENGFENG DEV LTD (SFWL) had EBITDA of $23.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does SHENGFENG DEV LTD have?

As of fiscal year 2025, SHENGFENG DEV LTD (SFWL) had $35.3M in cash and equivalents against $33.8M in long-term debt.

What is SHENGFENG DEV LTD's gross margin?

SHENGFENG DEV LTD (SFWL) had a gross margin of 9.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is SHENGFENG DEV LTD's operating margin?

SHENGFENG DEV LTD (SFWL) had an operating margin of 3.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is SHENGFENG DEV LTD's net profit margin?

SHENGFENG DEV LTD (SFWL) had a net profit margin of 2.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is SHENGFENG DEV LTD's return on equity (ROE)?

SHENGFENG DEV LTD (SFWL) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is SHENGFENG DEV LTD's free cash flow?

SHENGFENG DEV LTD (SFWL) generated -$2.9M in free cash flow during fiscal year 2025. This represents a 80.1% 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 SHENGFENG DEV LTD's operating cash flow?

SHENGFENG DEV LTD (SFWL) generated $16.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are SHENGFENG DEV LTD's total assets?

SHENGFENG DEV LTD (SFWL) had $347.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are SHENGFENG DEV LTD's capital expenditures?

SHENGFENG DEV LTD (SFWL) invested $19.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does SHENGFENG DEV LTD have outstanding?

SHENGFENG DEV LTD (SFWL) had 41M shares outstanding as of fiscal year 2025.

What is SHENGFENG DEV LTD's current ratio?

SHENGFENG DEV LTD (SFWL) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.

What is SHENGFENG DEV LTD's debt-to-equity ratio?

SHENGFENG DEV LTD (SFWL) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SHENGFENG DEV LTD's return on assets (ROA)?

SHENGFENG DEV LTD (SFWL) had a return on assets of 3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SHENGFENG DEV LTD's Altman Z-Score?

SHENGFENG DEV LTD (SFWL) has an Altman Z-Score of 2.34, 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 SHENGFENG DEV LTD's Piotroski F-Score?

SHENGFENG DEV LTD (SFWL) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 SHENGFENG DEV LTD's earnings high quality?

SHENGFENG DEV LTD (SFWL) has an earnings quality ratio of 1.35x, considered cash-backed (high quality). 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 SHENGFENG DEV LTD cover its interest payments?

SHENGFENG DEV LTD (SFWL) has an interest coverage ratio of 6.2x, 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 SHENGFENG DEV LTD?

SHENGFENG DEV LTD (SFWL) scores 42 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.