Sincerty Applied Financials

SINC

FY2021 annual

Revenue $63K -87.0% YoY

Net Income -$61K -171.7% YoY

EPS (Diluted) Not reported for FY2021

Free Cash Flow $36K -84.9% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2022, ended Jun 30, 2022 Reported Aug 15, 2022 Currency USD FYE December

Sincerty Applied (SINC) reported $63K in revenue for fiscal year 2021, down 87.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).

Rhea AI SINC FY2021 2026-08-15

Revenue collapse stripped out scale, leaving a higher gross margin unable to cover the company’s remaining overhead.

From FY2019 to FY2021, revenue fell from $678K to $63K even though gross margin moved higher. Operating margin swung from 15.4% in FY2020 to -138.6% in FY2021, showing lost scale and weak fixed-cost absorption; this business only covers overhead when sales volume is materially higher.

FY2021 showed a net loss of -$61K yet operating cash flow of $36K, so cash and earnings moved in opposite directions. With reported capital spending at $0, free cash flow simply mirrored operating cash flow, pointing to non-earnings cash sources such as working-capital release rather than a self-funding operating engine.

The company’s liquidity pressure is short term: cash was only $1K and long-term debt was $0. Because current liabilities effectively matched total liabilities and the current ratio was 0.8x, the balance sheet looks like obligations clustering near the due date, with a thin equity cushion absorbing any operating setback.

Financial Health Signals

Financial health score not available

Sincerty Applied does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Distress

-7.23

Sincerty Applied scores -7.23, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($198K) relative to total liabilities ($662K). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Sincerty Applied passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

Sincerty Applied reported a net loss of $61K while generating $36K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Sincerty Applied reported an operating loss of $87K against $6K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$63K

YoY-87.0%

5Y CAGR-41.4%

Sincerty Applied generated $63K in revenue in fiscal year 2021. This represents a decrease of 87.0% from the prior year.

EBITDA

-$81K

YoY-202.8%

Sincerty Applied's EBITDA was -$81K in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 202.8% from the prior year.

Net Income

-$61K

YoY-171.7%

Sincerty Applied reported -$61K in net income in fiscal year 2021. This represents a decrease of 171.7% from the prior year.

EPS (Diluted)

Not reported for fiscal year 2021.

Cash & Balance Sheet

Free Cash Flow

$36K

YoY-84.9%

Sincerty Applied generated $36K in free cash flow in fiscal year 2021, representing cash available after capex. This represents a decrease of 84.9% from the prior year.

Cash & Debt

$1K

YoY-74.3%

5Y CAGR-49.6%

Sincerty Applied held $1K in cash against $0 in long-term debt as of fiscal year 2021, with $662K of liabilities due within a year.

Shares Outstanding

74M

YoY+48.7%

Sincerty Applied had 74M shares outstanding in fiscal year 2021. This represents an increase of 48.7% from the prior year.

Dividends Per Share

Not reported for fiscal year 2021.

Margins & Returns

Gross Margin

66.1%

YoY+40.7pp

5Y CAGR+36.0pp

Sincerty Applied's gross margin was 66.1% in fiscal year 2021, indicating the percentage of revenue retained after direct costs. This is up 40.7 percentage points from the prior year.

Net Margin

-97.4%

YoY-115.1pp

5Y CAGR-104.6pp

Sincerty Applied's net profit margin was -97.4% in fiscal year 2021, showing the share of revenue converted to profit. This is down 115.1 percentage points from the prior year.

Return on Equity

-120.6%

YoY-209.4pp

Sincerty Applied's ROE was -120.6% in fiscal year 2021, measuring profit generated per dollar of shareholder equity. This is down 209.4 percentage points from the prior year.

Operating Margin

Not shown for fiscal year 2021: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Capital Expenditures

Sincerty Applied reported no capital expenditure in fiscal year 2021.

R&D Spending

Not reported for fiscal year 2021.

Share Buybacks

Not reported for fiscal year 2021.

SINC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SINC quarterly income statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Revenue	$63K-87.0%	$483K-28.8%	$678K-56.5%	$1.6M-27.6%	$2.2M+135.2%	$915K+159.0%	$353K+27.8%	$276K+247.9%	$79K-26.3%	$108K
Cost of Revenue	$21K-94.1%	$360K-37.4%	$575K-61.0%	$1.5M-24.5%	$2.0M+205.1%	$639K	N/A	N/A	N/A	N/A
Gross Profit	$42K-66.0%	$122K+19.4%	$103K+19.9%	$86K-57.2%	$200K-27.3%	$275K	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	$33K-45.2%	$60K-81.3%	$320K+306.3%	$79K-52.4%	$165K
SG&A Expenses	$23K+274.7%	$6K-81.9%	$33K-74.3%	$129K+18.2%	$109K+187.1%	$38K-97.5%	$1.5M-28.7%	$2.2M+407.1%	$427K+47.1%	$290K
Operating Income	-$87K-217.5%	$74K+329.2%	-$32K+91.0%	-$362K+86.0%	-$2.6M-2097.6%	$130K+106.0%	-$2.2M+29.2%	-$3.0M-148.7%	-$1.2M-174.1%	-$446K
Interest Expense	$6K+6.6%	$6K-63.5%	$15K-93.6%	$240K+164.1%	$91K+217.6%	$29K-80.7%	$149K+372.9%	$31K+55.7%	$20K+28.5%	$16K
Income Tax	-$10K-127.2%	$37K+15313.7%	$241+100.3%	-$78K-40.1%	-$56K-322.6%	$25K	N/A	N/A	N/A	N/A
Net Income	-$61K-171.7%	$86K+831.9%	-$12K-101.5%	$762K+119.1%	-$4.0M-6193.7%	$65K+103.0%	-$2.2M+21.2%	-$2.8M-127.0%	-$1.2M-179.3%	-$440K

Metric	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20
Revenue	$2K-88.7%	$14K	N/A	$17K+16.8%	$15K-52.0%	$31K-63.2%	$84K-9.4%	$93K
Cost of Revenue	$7K	$0	N/A	N/A	-$22K-186.6%	$26K-27.4%	$36K-67.6%	$110K
Gross Profit	-$6K-141.1%	$14K	N/A	-$235	N/A	$5K-89.2%	$49K+398.0%	-$16K
SG&A Expenses	$10K+442.1%	$2K	N/A	$0-100.0%	$3K+1.5%	$3K+33.5%	$2K	$0
Operating Income	-$140K-1699.3%	$9K	N/A	-$42K-946.8%	-$4K-2559.1%	$164-99.6%	$42K+275.7%	-$24K
Interest Expense	$7K+420.6%	$1K	N/A	$1K-6.0%	$2K+0.6%	$2K+5.4%	$1K+3.1%	$1K
Income Tax	-$14K-592.3%	$3K	N/A	-$5K-229.3%	$4K+75.2%	$2K-85.4%	$15K+1025.0%	-$2K
Net Income	-$114K-1804.9%	$7K	N/A	-$28K-197.0%	-$9K-251.5%	$6K-85.4%	$42K+1026.4%	-$5K
EPS (Diluted)	$0.00	N/A	N/A	N/A	$0.00	N/A	N/A	N/A

Not reported in any period shown, so not listed: R&D Expenses.

SINC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SINC quarterly balance sheet

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Total Assets	$713K-9.2%	$785K+21.4%	$647K-42.8%	$1.1M+284.2%	$294K+129.0%	$128K-91.2%	$1.5M+5.8%	$1.4M+44.1%	$960K+852.3%	$101K
Current Assets	$518K-11.8%	$588K+41.7%	$415K+144.4%	$170K-8.3%	$185K+307.1%	$45K-93.1%	$661K+99.4%	$332K-65.3%	$954K+1976.2%	$46K
Cash & Equivalents	$1K-74.3%	$4K-81.6%	$23K-2.1%	$23K-63.5%	$64K+93.0%	$33K+167.1%	$12K-94.7%	$233K-73.9%	$892K+11431.2%	$8K
Inventory	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A	N/A	N/A
Accounts Receivable	$3K-96.1%	$68K-27.3%	$93K-35.9%	$145K+202.1%	$48K+311.7%	$12K-81.9%	$65K+43.4%	$45K+1455.7%	$3K-52.0%	$6K
Total Liabilities	$662K-3.9%	$689K+14.7%	$601K-46.6%	$1.1M-52.8%	$2.4M+537.7%	$374K-78.8%	$1.8M+70.4%	$1.0M+4.3%	$990K+81.4%	$545K
Current Liabilities	$662K+5.4%	$629K+22.2%	$514K+14.5%	$449K-80.8%	$2.3M+688.4%	$298K-40.1%	$497K-36.9%	$788K+75.8%	$448K+61.2%	$278K
Long-Term Debt	$0-100.0%	$60K-30.2%	$86K-22.0%	$111K+185.5%	$39K-49.2%	$76K-88.0%	$637K+592.9%	$92K-61.4%	$238K-11.1%	$268K
Total Equity	$51K-47.2%	$96K+108.6%	$46K+714.6%	$6K+100.3%	-$2.1M-751.7%	-$245K+17.7%	-$298K-169.7%	$428K+1348.2%	$30K+106.6%	-$445K
Retained Earnings	-$3.5M-1.8%	-$3.4M+2.4%	-$3.5M+1.2%	-$3.6M+16.6%	-$4.3M-1465.3%	-$272K+96.1%	-$7.0M-45.9%	-$4.8M-139.5%	-$2.0M-159.4%	-$772K

Metric	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20
Total Assets	$1.6M+117.2%	$729K+2.2%	$713K+0.4%	$710K-1.1%	$718K-4.9%	$755K-3.8%	$785K-1.8%	$800K
Current Assets	$1.4M+158.8%	$536K+3.4%	$518K-1.6%	$527K-1.3%	$534K-5.3%	$563K-4.1%	$588K-1.4%	$596K
Cash & Equivalents	$14K+368.4%	$3K+177.3%	$1K-81.1%	$6K+157.1%	$2K-61.4%	$6K+36.6%	$4K-7.3%	$5K
Accounts Receivable	$3K0.0%	$3K+1.5%	$3K0.0%	$3K-57.9%	$6K-85.3%	$42K-37.3%	$68K-59.7%	$168K
Total Liabilities	$831K+27.6%	$652K-1.6%	$662K+5.1%	$630K+2.4%	$616K-4.2%	$642K-6.8%	$689K-8.0%	$749K
Current Liabilities	$831K+27.6%	$652K-1.6%	$662K+10.6%	$599K+4.3%	$574K-2.9%	$591K-5.9%	$629K-8.2%	$685K
Long-Term Debt	$0	$0	$0-100.0%	$32K-23.4%	$42K-18.2%	$51K-15.7%	$60K-5.4%	$64K
Total Equity	$752K+875.9%	$77K+51.4%	$51K-36.3%	$80K-22.0%	$102K-9.3%	$113K+17.2%	$96K+88.6%	$51K
Retained Earnings	-$3.5M-1.9%	-$3.5M+0.2%	-$3.5M-0.9%	-$3.5M-0.8%	-$3.4M-0.3%	-$3.4M+0.2%	-$3.4M+1.2%	-$3.5M

Not reported in any period shown, so not listed: Inventory, Goodwill.

SINC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SINC quarterly cash flow statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Operating Cash Flow	$36K-84.9%	$237K+146.0%	$96K+115.1%	-$636K-928.7%	-$62K-379.5%	-$13K+99.3%	-$1.8M+1.0%	-$1.8M-96.7%	-$926K-1886.1%	-$47K
Capital Expenditures	$0	$0	$0	$0-100.0%	$5K+1615.8%	$304-96.9%	$10K+44.2%	$7K	$0-100.0%	$3K
Free Cash Flow	$36K-84.9%	$237K+146.0%	$96K+115.1%	-$636K-848.7%	-$67K-408.0%	-$13K+99.3%	-$1.8M+0.8%	-$1.8M-97.4%	-$926K-1775.2%	-$49K
Investing Cash Flow	$0	$0	$0	$0+100.0%	-$5K-1615.8%	-$304-102.9%	$10K+116.2%	-$64K-4563.0%	-$1K+98.8%	-$115K
Financing Cash Flow	-$47K+79.2%	-$226K-130.7%	-$98K-116.9%	$579K+216.0%	$183K+142.9%	$75K-96.6%	$2.2M+64.7%	$1.3M-27.1%	$1.8M+319.4%	$435K

Metric	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20
Operating Cash Flow	-$112K-3483.9%	-$3K	N/A	$9K-62.6%	$24K+305.1%	$6K-91.9%	$72K+313.0%	$17K
Capital Expenditures	N/A	N/A	N/A	$0	N/A	N/A	$0	$0
Free Cash Flow	N/A	N/A	N/A	$9K	N/A	N/A	$72K+313.0%	$17K
Investing Cash Flow	$0	$0	N/A	$0	$0	$0	$0	$0
Financing Cash Flow	$278K+1767.9%	-$17K	N/A	-$7K+69.8%	-$23K-81.8%	-$13K+84.6%	-$82K-77.9%	-$46K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SINC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

SINC quarterly financial ratios

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Gross Margin	66.1%+40.7pp	25.4%+10.2pp	15.2%+9.7pp	5.5%-3.8pp	9.3%-20.8pp	30.1%	N/A	N/A	N/A	N/A
Operating Margin	-138.5%	15.4%+20.2pp	-4.8%+18.4pp	-23.2%	-120.4%	14.2%	-610.2%	-1100.9%	-1540.2%	-414.3%
Net Margin	-97.4%-115.1pp	17.7%+19.5pp	-1.7%-50.6pp	48.9%	-185.5%	7.2%	-623.0%	-1010.8%	-1548.8%	-408.8%
Return on Equity	-120.6%-209.4pp	88.9%+114.2pp	-25.3%-13475.3pp	13450.0%	N/A	N/A	N/A	-653.1%+3512.7pp	-4165.7%	N/A
Return on Assets	-8.6%-19.5pp	10.9%+12.7pp	-1.8%-69.2pp	67.4%+1423.8pp	-1356.3%-1407.3pp	51.0%+201.4pp	-150.4%+51.6pp	-202.0%-73.8pp	-128.2%+308.8pp	-437.0%
Current Ratio	0.78-0.2x	0.94+0.1x	0.81+0.4x	0.38+0.3x	0.08-0.1x	0.15-1.2x	1.33+0.9x	0.42-1.7x	2.13+2.0x	0.17
Debt-to-Equity	0.00-0.6x	0.63-1.2x	1.87-17.7x	19.56	N/A	N/A	N/A	0.21-7.8x	8.06	N/A
FCF Margin	56.6%+7.6pp	49.0%+34.9pp	14.2%+55.0pp	-40.8%-37.7pp	-3.1%-1.7pp	-1.4%	-513.5%	-661.3%	-1165.3%	-45.8%

Metric	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20
Gross Margin	-362.8%	100.0%	N/A	-1.4%	N/A	17.0%-40.9pp	57.9%+75.5pp	-17.6%
Operating Margin	-8894.1%	63.0%	N/A	-242.0%	-27.0%-27.5pp	0.5%-49.0pp	49.5%+75.0pp	-25.5%
Net Margin	-7247.9%	48.2%	N/A	-157.8%	-62.1%-81.7pp	19.7%-29.9pp	49.6%+54.5pp	-4.9%
Return on Equity	-15.2%-23.8pp	8.7%	N/A	-34.5%-25.4pp	-9.1%-14.5pp	5.4%-38.1pp	43.6%+52.4pp	-8.9%
Return on Assets	-7.2%-8.1pp	0.9%	N/A	-3.9%-2.6pp	-1.3%-2.1pp	0.8%-4.5pp	5.3%+5.9pp	-0.6%
Current Ratio	1.67+0.8x	0.820.0x	0.78-0.1x	0.880.0x	0.930.0x	0.950.0x	0.94+0.1x	0.87
Debt-to-Equity	0.000.0x	0.000.0x	0.00-0.4x	0.400.0x	0.410.0x	0.45-0.2x	0.63-0.6x	1.25
FCF Margin	N/A	N/A	N/A	50.7%	N/A	N/A	84.9%+66.3pp	18.6%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin.

Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

C-Bond Systems Inc. CBNT

$239K

Interntn Zeolite IZCFF

$567K

Hydromer HYDI

$1.3M

Crown Electr CRKN

$9.4M

Danimer Scientific Inc DNMR

$5.3M

Where Sincerty Applied Ranks

Frequently Asked Questions

What is Sincerty Applied's annual revenue?

Sincerty Applied (SINC) reported $63K in total revenue for fiscal year 2021. This represents a -87.0% 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 Sincerty Applied's revenue growing?

Sincerty Applied (SINC) revenue declined by 87.0% year-over-year, from $483K to $63K in fiscal year 2021.

Is Sincerty Applied profitable?

No, Sincerty Applied (SINC) reported a net income of -$61K in fiscal year 2021, with a net profit margin of -97.4%.

What is Sincerty Applied's EBITDA?

Sincerty Applied (SINC) had EBITDA of -$81K in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Sincerty Applied have?

As of fiscal year 2021, Sincerty Applied (SINC) had $1K in cash and equivalents against $0 in long-term debt.

What is Sincerty Applied's gross margin?

Sincerty Applied (SINC) had a gross margin of 66.1% in fiscal year 2021, indicating the percentage of revenue retained after direct costs of goods sold.

What is Sincerty Applied's net profit margin?

Sincerty Applied (SINC) had a net profit margin of -97.4% in fiscal year 2021, representing the share of revenue converted into profit after all expenses.

What is Sincerty Applied's return on equity (ROE)?

Sincerty Applied (SINC) has a return on equity of -120.6% for fiscal year 2021, measuring how efficiently the company generates profit from shareholder equity.

What is Sincerty Applied's free cash flow?

Sincerty Applied (SINC) generated $36K in free cash flow during fiscal year 2021. This represents a -84.9% 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 Sincerty Applied's operating cash flow?

Sincerty Applied (SINC) generated $36K in operating cash flow during fiscal year 2021, representing cash generated from core business activities.

What are Sincerty Applied's total assets?

Sincerty Applied (SINC) had $713K in total assets as of fiscal year 2021, including both current and long-term assets.

What are Sincerty Applied's capital expenditures?

Sincerty Applied (SINC) reported no capital expenditure during fiscal year 2021.

How many shares does Sincerty Applied have outstanding?

Sincerty Applied (SINC) had 74M shares outstanding as of fiscal year 2021.

What is Sincerty Applied's current ratio?

Sincerty Applied (SINC) had a current ratio of 0.78 as of fiscal year 2021, which is below 1.0, which may suggest potential liquidity concerns.

What is Sincerty Applied's debt-to-equity ratio?

Sincerty Applied (SINC) had a debt-to-equity ratio of 0.00 as of fiscal year 2021, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sincerty Applied's return on assets (ROA)?

Sincerty Applied (SINC) had a return on assets of -8.6% for fiscal year 2021, measuring how efficiently the company uses its assets to generate profit.

What is Sincerty Applied's Altman Z-Score?

Sincerty Applied (SINC) has an Altman Z-Score of -7.23, placing it in the Distress Zone (elevated bankruptcy 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 Sincerty Applied's Piotroski F-Score?

Sincerty Applied (SINC) has a Piotroski F-Score of 4 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sincerty Applied's earnings high quality?

Sincerty Applied (SINC) reported a net loss of $61K while generating $36K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 Sincerty Applied cover its interest payments?

Sincerty Applied (SINC) reported an operating loss of $87K against $6K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.