Tungray Technologies (TRSG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 28, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TRSG SEC filings page.
Tungray Technologies Inc (TRSG) reported $15.6M in revenue for fiscal year 2025, up 22.0% from the prior fiscal year. This page shows its 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).
Revenue recovered in FY2025, but heavier overhead, inventory, and investment kept the business cash-negative and slightly unprofitable.
Revenue reached$15.6M in FY2025, while operating cash flow was-$3.0M , revealing weak cash conversion beneath the reported sales recovery. That mismatch coincided with inventory rising51.8% and capital spending rising77.4% , so the rebound was not yet translating into cash.
The margin structure improved: gross margin recovered to
The balance sheet became less liability-heavy: liabilities were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Tungray Technologies Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Tungray Technologies Inc has an operating margin of -1.6%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 30/100. This is up from -5.1% the prior year.
Tungray Technologies Inc's revenue surged 22.0% year-over-year to $15.6M, reflecting rapid business expansion. This strong growth earns a score of 46/100.
Tungray Technologies Inc's current ratio of 1.94 indicates adequate short-term liquidity, earning a score of 57/100. The company can meet its near-term obligations, though with limited headroom.
Tungray Technologies Inc's operations used $3.0M of cash, and capex of $799K added to the outflow, for a free cash flow shortfall of $3.8M. This results in a cash flow score of 10/100.
Tungray Technologies Inc posts a -0.9% return on equity (ROE), meaning it loses $1 for every $100 of shareholders' equity. This results in a returns score of 28/100. This is up from -3.3% the prior year.
Tungray Technologies Inc scores 2.58, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $19.1M against total liabilities of $11.5M. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Tungray Technologies Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.
Tungray Technologies Inc reported a net loss of $170K while operations used $3.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Tungray Technologies Inc reported an operating loss of $242K against $66K 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
Earnings & Revenue
Tungray Technologies Inc generated $15.6M in revenue in fiscal year 2025. This represents an increase of 22.0% from the prior year.
Tungray Technologies Inc's EBITDA was $173K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior year is not meaningful, because that figure was zero or negative.
Tungray Technologies Inc reported a net loss of $170K in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Tungray Technologies Inc recorded an outflow of $3.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
Tungray Technologies Inc held $6.6M in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Margins & Returns
Tungray Technologies Inc's gross margin was 45.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.2 percentage points from the prior year.
Tungray Technologies Inc's operating margin was -1.6% in fiscal year 2025, reflecting core business profitability. This is up 3.6 percentage points from the prior year.
Tungray Technologies Inc's net profit margin was -1.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.4 percentage points from the prior year.
Tungray Technologies Inc's ROE was -0.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.
Capital Allocation
Tungray Technologies Inc invested $975K in research and development in fiscal year 2025. This represents a decrease of 8.3% from the prior year.
Tungray Technologies Inc invested $799K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 77.4% from the prior year.
Not reported for fiscal year 2025.
TRSG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Revenue | $15.6M+22.0% | $12.8M-10.8% | $14.4M-12.1% | $16.3M-6.5% | $17.5M |
| Cost of Revenue | $8.5M+17.2% | $7.2M-5.7% | $7.7M+8.3% | $7.1M-13.9% | $8.2M |
| Gross Profit | $7.2M+28.1% | $5.6M-16.6% | $6.7M-27.6% | $9.3M+0.1% | $9.3M |
| R&D Expenses | $975K-8.3% | $1.1M+34.3% | $792K-4.5% | $829K+23.9% | $669K |
| SG&A Expenses | $6.4M+24.1% | $5.2M+7.7% | $4.8M-6.5% | $5.2M+39.0% | $3.7M |
| Operating Income | -$242Kn/m | -$656K-159.7% | $1.1M-66.5% | $3.3M-32.7% | $4.9M |
| EBITDA | $173Kn/m | -$280K-120.6% | $1.4M-60.9% | $3.5M-32.0% | $5.1M |
| Interest Expense | $66K-39.8% | $110K+64.7% | $67K-68.1% | $210K+51.4% | $138K |
| Income Tax | $131K-52.8% | $278K-48.3% | $538Kn/m | -$629K-188.6% | $709K |
| Net Income | -$170Kn/m | -$572K-175.5% | $757K-73.5% | $2.9M-33.7% | $4.3M |
| EPS (Basic) | N/A | N/A | $0.06-68.4% | $0.19-34.5% | $0.29 |
| EPS (Diluted) | N/A | N/A | $0.06-68.4% | $0.19-34.5% | $0.29 |
| Diluted Shares (Avg) | N/A | N/A | 15M0.0% | 15M0.0% | 15M |
TRSG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Total Assets | $29.5M-1.3% | $29.9M+10.6% | $27.1M+3.9% | $26.0M | N/A |
| Current Assets | $18.7M-5.4% | $19.8M+6.7% | $18.5M+3.7% | $17.9M | N/A |
| Cash & Equivalents | $6.6M-26.1% | $9.0M-17.0% | $10.8M-17.7% | $13.1M+15.8% | $11.3M |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Inventory | $3.4M+51.8% | $2.2M-3.4% | $2.3M+62.6% | $1.4M | N/A |
| Accounts Receivable | N/A | N/A | $320K+205.1% | $105K | N/A |
| Long-Term Investments | $2.3M+1006.3% | $205K-2.7% | $211K-2.9% | $217Kn/m | $0 |
| Total Liabilities | $11.5M-9.2% | $12.6M+11.6% | $11.3M+1.3% | $11.2M | N/A |
| Current Liabilities | $9.6M-9.0% | $10.6M+17.4% | $9.0M+8.5% | $8.3M | N/A |
| Non-Current Liabilities | $1.8M-10.4% | $2.0M-11.2% | $2.3M-19.6% | $2.9M | N/A |
| Total Equity | $18.0M+4.5% | $17.3M+9.8% | $15.7M+5.9% | $14.8M+21.4% | $12.2M |
| Retained Earnings | $15.0M-0.1% | $15.1M-3.1% | $15.5M+5.8% | $14.7M | N/A |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
TRSG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Operating Cash Flow | -$3.0Mn/m | -$812K-280.0% | $451K-87.6% | $3.6M-39.2% | $6.0M |
| Depreciation & Amortization | $415K+10.5% | $376K+42.7% | $263K+32.4% | $199K-18.0% | $242K |
| Capital Expenditures | $799K+77.4% | $451K+941.8% | $43K-70.3% | $146K-29.4% | $206K |
| Free Cash Flow | -$3.8Mn/m | -$1.3M-409.6% | $408K-88.3% | $3.5M-39.6% | $5.8M |
| Investing Cash Flow | -$1.6Mn/m | -$2.8Mn/m | -$82Kn/m | -$104Kn/m | -$1.0M |
| Financing Cash Flow | $1.3M-53.2% | $2.8Mn/m | -$2.8Mn/m | -$1.4Mn/m | -$13K |
| Dividends Paid | N/A | $517K-59.5% | $1.3M-22.9% | $1.7M | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.
TRSG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Gross Margin | 45.9%+2.2pp | 43.7%-3.0pp | 46.7%-10.0pp | 56.7%+3.7pp | 53.0% |
| Operating Margin | -1.6%+3.6pp | -5.1%-12.8pp | 7.7%-12.4pp | 20.1%-7.8pp | 27.9% |
| Net Margin | -1.1%+3.4pp | -4.5%-9.7pp | 5.3%-12.2pp | 17.5%-7.1pp | 24.6% |
| Return on Equity | -0.9%+2.4pp | -3.3%-8.1pp | 4.8%-14.4pp | 19.2%-16.0pp | 35.2% |
| Return on Assets | -0.6%+1.3pp | -1.9%-4.7pp | 2.8%-8.2pp | 10.9% | N/A |
| Current Ratio | 1.94+0.1x | 1.86-0.2x | 2.05-0.1x | 2.15 | N/A |
| Liabilities-to-Equity | 0.64-0.1x | 0.730.0x | 0.720.0x | 0.75 | N/A |
| Asset Turnover | 0.53+0.1x | 0.43-0.1x | 0.53-0.1x | 0.63 | N/A |
| FCF Margin | -24.6%-14.8pp | -9.9%-12.7pp | 2.8%-18.5pp | 21.4%-11.7pp | 33.1% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Tungray Technologies Inc TRSG | FY2025 | $15.6M | -$170K | -1.1% | $19.1M | 38/100 |
| Highway Holdings Ltd HIHO | FY2026 | $4.8M | -$1.5M | -31.7% | $3.3M | 53/100 |
| Ampco-Pittsburgh Corp. AP | FY2025 | $434.2M | -$66.1M | -15.2% | $171.1M | 28/100 |
| Techprecision Corporation TPCS | FY2026 | $31.6M | -$1.7M | -5.3% | $54.7M | 50/100 |
| Mingteng International Corporation Inc. MTEN | FY2025 | $11.7M | -$1.8M | -15.3% | $7.1M | 35/100 |
Where Tungray Technologies Inc Ranks
Frequently Asked Questions
What is Tungray Technologies Inc's annual revenue?
Tungray Technologies Inc (TRSG) reported $15.6M in total revenue for fiscal year 2025. This represents a 22.0% 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 Tungray Technologies Inc's revenue growing?
Tungray Technologies Inc (TRSG) revenue grew by 22.0% year-over-year, from $12.8M to $15.6M in fiscal year 2025.
Is Tungray Technologies Inc profitable?
No, Tungray Technologies Inc (TRSG) reported a net loss of $170K in fiscal year 2025, with a net profit margin of -1.1%.
What is Tungray Technologies Inc's EBITDA?
Tungray Technologies Inc (TRSG) had EBITDA of $173K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tungray Technologies Inc's gross margin?
Tungray Technologies Inc (TRSG) had a gross margin of 45.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Tungray Technologies Inc's operating margin?
Tungray Technologies Inc (TRSG) had an operating margin of -1.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Tungray Technologies Inc's net profit margin?
Tungray Technologies Inc (TRSG) had a net profit margin of -1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Tungray Technologies Inc's return on equity (ROE)?
Tungray Technologies Inc (TRSG) has a return on equity of -0.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tungray Technologies Inc's free cash flow?
Tungray Technologies Inc (TRSG) recorded an outflow of $3.8M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 Tungray Technologies Inc's operating cash flow?
Tungray Technologies Inc (TRSG) recorded an outflow of $3.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Tungray Technologies Inc's total assets?
Tungray Technologies Inc (TRSG) had $29.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tungray Technologies Inc's capital expenditures?
Tungray Technologies Inc (TRSG) invested $799K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tungray Technologies Inc spend on research and development?
Tungray Technologies Inc (TRSG) invested $975K in research and development during fiscal year 2025.
What is Tungray Technologies Inc's current ratio?
Tungray Technologies Inc (TRSG) had a current ratio of 1.94 as of fiscal year 2025, which is generally considered healthy.
What is Tungray Technologies Inc's liabilities-to-equity ratio?
Tungray Technologies Inc (TRSG) had a liabilities-to-equity ratio of 0.64 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is Tungray Technologies Inc's return on assets (ROA)?
Tungray Technologies Inc (TRSG) had a return on assets of -0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tungray Technologies Inc's P/E ratio?
Tungray Technologies Inc (TRSG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $19.1M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Tungray Technologies Inc's price-to-sales ratio?
Tungray Technologies Inc (TRSG) trades at 1.2x sales, its market capitalization divided by $15.6M revenue, FY2025. The market capitalization is $19.1M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Tungray Technologies Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Tungray Technologies Inc (TRSG) held $8.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $3.0M over that year. Dividing the one by the other, the reported balance equals about 35 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Tungray Technologies Inc's Altman Z-Score?
Tungray Technologies Inc (TRSG) has an Altman Z-Score of 2.58, 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 Tungray Technologies Inc's Piotroski F-Score?
Tungray Technologies Inc (TRSG) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Tungray Technologies Inc's earnings high quality?
Tungray Technologies Inc (TRSG) reported a net loss of $170K while operations used $3.0M of cash. With neither figure positive, 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 Tungray Technologies Inc cover its interest payments?
Tungray Technologies Inc (TRSG) reported an operating loss of $242K against $66K 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.
How financially healthy is Tungray Technologies Inc?
Tungray Technologies Inc (TRSG) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.