Wetouch Technology Inc Financials

WETH

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

Financial Health Signals

Financial Profile 63/100

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

Profitability

100

Wetouch Technology Inc has an operating margin of 22.0%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 31.9% the prior year.

Growth

Wetouch Technology Inc's revenue grew 6.5% year-over-year to $42.3M, a solid pace of expansion. This earns a growth score of 47/100.

Leverage

100

Wetouch Technology Inc carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 38.68, Wetouch Technology Inc holds $38.68 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

Wetouch Technology Inc's free cash flow margin of 1.9% results in a low score of 9/100. Capital expenditures of $272K absorb a large share of operating cash flow.

Returns

Wetouch Technology Inc generates a 4.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is down from 7.3% the prior year.

Altman Z-Score Safe

5.95

Wetouch Technology Inc scores 5.95, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($20.2M) relative to total liabilities ($3.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Weak

3/9

Wetouch Technology Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.18x

For every $1 of reported earnings, Wetouch Technology Inc generates $0.18 in operating cash flow ($1.1M OCF vs $6.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

8.0x

Wetouch Technology Inc earns $8.0 in operating income for every $1 of interest expense ($9.3M vs $1.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

This page shows Wetouch Technology Inc (WETH) 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).

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Key Financial Metrics

Revenue

$42.3M

YoY+6.5%

5Y CAGR+1.1%

Wetouch Technology Inc generated $42.3M in revenue in fiscal year 2024. This represents an increase of 6.5% from the prior year.

EBITDA

$9.3M

YoY-26.3%

5Y CAGR-12.4%

Wetouch Technology Inc's EBITDA was $9.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 26.3% from the prior year.

Free Cash Flow

$797K

YoY-92.4%

5Y CAGR-39.9%

Wetouch Technology Inc generated $797K in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 92.4% from the prior year.

Net Income

$6.0M

YoY-27.0%

5Y CAGR-15.2%

Wetouch Technology Inc reported $6.0M in net income in fiscal year 2024. This represents a decrease of 27.0% from the prior year.

EPS (Diluted)

$0.52

YoY-41.6%

Wetouch Technology Inc earned $0.52 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 41.6% from the prior year.

Cash & Debt

$103.8M

YoY+5.8%

5Y CAGR+48.7%

Wetouch Technology Inc held $103.8M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

12M

YoY+22.6%

Wetouch Technology Inc had 12M shares outstanding in fiscal year 2024. This represents an increase of 22.6% from the prior year.

Gross Margin

32.2%

YoY-11.1pp

5Y CAGR-17.2pp

Wetouch Technology Inc's gross margin was 32.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 11.1 percentage points from the prior year.

Operating Margin

22.0%

YoY-9.8pp

5Y CAGR-20.5pp

Wetouch Technology Inc's operating margin was 22.0% in fiscal year 2024, reflecting core business profitability. This is down 9.8 percentage points from the prior year.

Net Margin

14.3%

YoY-6.6pp

5Y CAGR-20.0pp

Wetouch Technology Inc's net profit margin was 14.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 6.6 percentage points from the prior year.

Return on Equity

4.8%

YoY-2.5pp

5Y CAGR-38.5pp

Wetouch Technology Inc's ROE was 4.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$272K

YoY-88.0%

5Y CAGR+122.3%

Wetouch Technology Inc invested $272K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 88.0% from the prior year.

WETH Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$42.3M+6.5%	$39.7M+4.7%	$37.9M-7.0%	$40.8M+30.1%	$31.3M-21.6%	$40.0M
Cost of Revenue	$28.7M+27.4%	$22.5M-5.7%	$23.9M+7.3%	$22.3M+41.4%	$15.7M-22.4%	$20.3M
Gross Profit	$13.6M-20.8%	$17.2M+22.3%	$14.1M-23.8%	$18.4M+18.1%	$15.6M-20.9%	$19.7M
R&D Expenses	N/A	$85K-0.8%	$85K-4.7%	$89K+14.7%	$78K-42.8%	$136K
SG&A Expenses	$3.5M-8.1%	$3.8M+204.8%	$1.3M-34.9%	$1.9M-16.6%	$2.3M-0.4%	$2.3M
Operating Income	$9.3M-26.3%	$12.7M+10.8%	$11.4M-9.6%	$12.6M+6.3%	$11.9M-30.1%	$17.0M
Interest Expense	$1.2M+363.7%	$252K+12.2%	$225K+719.3%	$27K-98.4%	$1.7M+10140.2%	$17K
Income Tax	$2.7M-34.9%	$4.1M+21.8%	$3.4M-24.0%	$4.4M+184.6%	$1.5M-43.1%	$2.7M
Net Income	$6.0M-27.0%	$8.3M-5.3%	$8.7M-49.8%	$17.4M+94.7%	$8.9M-34.9%	$13.7M
EPS (Diluted)	$0.52-41.6%	$0.89	$4.73	$0.55+77.4%	$0.31-36.7%	$0.49

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$12.2M-1.9%	$12.4M-18.8%	$15.3M+321.1%	$3.6M-70.3%	$12.2M-17.8%	$14.9M+526.6%	$2.4M-78.7%	$11.1M
Cost of Revenue	$8.2M-1.3%	$8.3M-13.9%	$9.6M+262.9%	$2.7M-63.9%	$7.4M-36.1%	$11.5M+412.1%	$2.3M-64.5%	$6.3M
Gross Profit	$4.0M-3.2%	$4.1M-27.1%	$5.6M+480.6%	$972K-80.0%	$4.9M+45.6%	$3.3M+2659.2%	$121K-97.5%	$4.8M
R&D Expenses	N/A	N/A	N/A	$44K+1.5%	$43K+1.1%	$43K+88.3%	$23K+10.3%	$21K
SG&A Expenses	$709K-22.4%	$914K-41.6%	$1.6M+7.8%	$1.5M+81.0%	$803K+51.3%	$531K-72.3%	$1.9M+831.2%	$206K
Operating Income	$3.1M+1.4%	$3.1M-22.4%	$4.0M+2129.6%	-$196K-105.3%	$3.7M+61.6%	$2.3M+213.5%	-$2.0M-147.4%	$4.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	$1.2M+2757.6%	$41K-70.7%	$140K
Income Tax	$636K-27.5%	$877K-40.4%	$1.5M+1874.0%	-$83K-107.5%	$1.1M+66.1%	$662K+2544.7%	-$27K-102.4%	$1.1M
Net Income	$2.5M+12.7%	$2.2M-12.5%	$2.6M+2232.0%	$110K-95.9%	$2.7M+383.4%	$559K+127.1%	-$2.1M-172.1%	$2.9M
EPS (Diluted)	$0.21+10.5%	$0.19-9.5%	$0.21+600.0%	$0.03-87.0%	$0.23+475.0%	$0.04+117.4%	$-0.23-179.3%	$0.29

WETH Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$128.0M+7.0%	$119.6M+63.7%	$73.1M+6.4%	$68.7M+45.9%	$47.1M+12.7%	$41.7M
Current Assets	$114.1M+6.9%	$106.8M+71.7%	$62.2M+9.4%	$56.8M+55.3%	$36.6M+18.5%	$30.9M
Cash & Equivalents	$103.8M+5.8%	$98.0M+91.3%	$51.3M+11.0%	$46.2M+92.6%	$24.0M+67.8%	$14.3M
Inventory	$112K-49.4%	$222K-47.5%	$423K+73.2%	$244K-39.2%	$402K+97.3%	$204K
Accounts Receivable	$7.5M+0.7%	$7.5M-17.7%	$9.1M+13.3%	$8.0M-33.0%	$11.9M-25.7%	$16.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.4M-48.9%	$6.7M+57.3%	$4.3M-2.3%	$4.4M+61.3%	$2.7M-73.1%	$10.1M
Current Liabilities	$3.0M-53.5%	$6.3M+58.0%	$4.0M+23.8%	$3.2M+42.4%	$2.3M-75.9%	$9.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$124.6M+10.3%	$112.9M+64.0%	$68.8M+7.0%	$64.3M+45.0%	$44.4M+40.1%	$31.7M
Retained Earnings	$74.6M+7.4%	$69.5M+11.4%	$62.4M+14.2%	$54.6M+39.2%	$39.2M+25.1%	$31.4M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$139.9M+2.1%	$137.0M+2.5%	$133.7M+4.4%	$128.0M+1.7%	$125.9M+2.2%	$123.1M+2.9%	$119.6M+0.2%	$119.4M
Current Assets	$125.2M+1.6%	$123.2M+2.8%	$119.8M+5.0%	$114.1M+0.8%	$113.2M+2.9%	$110.0M+3.0%	$106.8M-2.1%	$109.1M
Cash & Equivalents	$113.2M+2.5%	$110.5M+3.8%	$106.4M+2.6%	$103.8M+5.5%	$98.4M+3.8%	$94.8M-3.3%	$98.0M+4.4%	$93.9M
Inventory	$47K-67.8%	$146K-0.7%	$147K+30.5%	$112K-37.3%	$179K-3.0%	$185K-16.8%	$222K+8.9%	$204K
Accounts Receivable	$10.8M+0.7%	$10.7M-3.3%	$11.1M+47.9%	$7.5M-30.7%	$10.8M	N/A	$7.5M-46.5%	$13.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.7M-9.2%	$5.2M-10.0%	$5.8M+68.8%	$3.4M-0.4%	$3.4M+32.2%	$2.6M-61.2%	$6.7M-12.9%	$7.7M
Current Liabilities	$4.7M-6.5%	$5.0M-7.9%	$5.4M+84.5%	$3.0M-5.3%	$3.1M+39.2%	$2.2M-64.7%	$6.3M-13.5%	$7.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$135.2M+2.6%	$131.8M+3.1%	$127.9M+2.6%	$124.6M+1.7%	$122.5M+1.6%	$120.5M+6.7%	$112.9M+1.1%	$111.7M
Retained Earnings	$82.0M+3.2%	$79.4M+2.9%	$77.2M+3.4%	$74.6M+2.6%	$72.7M+3.9%	$70.0M+0.8%	$69.5M-4.4%	$72.7M

WETH Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$1.1M-91.6%	$12.7M+48.2%	$8.6M-38.9%	$14.1M+8.4%	$13.0M+27.5%	$10.2M
Capital Expenditures	$272K-88.0%	$2.3M	N/A	$11.7M	N/A	$5K
Free Cash Flow	$797K-92.4%	$10.5M	N/A	$2.4M	N/A	$10.2M
Investing Cash Flow	-$272K+88.0%	-$2.3M	N/A	$6.2M	N/A	-$5K
Financing Cash Flow	$7.6M-81.0%	$39.9M+6220.6%	-$653K-135.0%	$1.9M+139.6%	-$4.7M+65.2%	-$13.5M
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	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$3.8M+44.5%	$2.6M+29.3%	$2.0M+12.4%	$1.8M-53.3%	$3.9M+142.1%	-$9.2M-348.0%	$3.7M+65.2%	$2.2M
Capital Expenditures	N/A	N/A	N/A	$153K+4294.6%	$3K-96.9%	$111K	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	$1.7M-57.2%	$3.9M+141.6%	-$9.3M	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	-$153K-4294.6%	-$3K+96.9%	-$111K	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	-$435K-225.3%	$347K-95.4%	$7.5M	$0+100.0%	-$102K
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

WETH Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	32.2%-11.1pp	43.3%+6.3pp	37.0%-8.1pp	45.2%-4.6pp	49.8%+0.5pp	49.3%
Operating Margin	22.0%-9.8pp	31.9%+1.8pp	30.1%-0.9pp	30.9%-7.0pp	37.9%-4.6pp	42.5%
Net Margin	14.3%-6.6pp	20.8%-2.2pp	23.0%-19.6pp	42.6%+14.1pp	28.5%-5.8pp	34.3%
Return on Equity	4.8%-2.5pp	7.3%-5.4pp	12.7%-14.4pp	27.0%+6.9pp	20.1%-23.2pp	43.3%
Return on Assets	4.7%-2.2pp	6.9%-5.0pp	11.9%-13.4pp	25.3%+6.3pp	19.0%-13.9pp	32.9%
Current Ratio	38.68+21.8	16.84+1.3	15.49-2.0	17.54+1.5	16.07+12.8	3.27
Debt-to-Equity	0.03-0.0	0.060.0	0.060.0	0.070.0	0.06-0.3	0.32
FCF Margin	1.9%-24.5pp	26.4%	N/A	5.8%	N/A	25.4%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	32.7%-0.4pp	33.1%-3.8pp	36.9%+10.1pp	26.8%-13.0pp	39.7%+17.3pp	22.4%+17.3pp	5.1%-37.9pp	43.0%
Operating Margin	25.7%+0.8pp	24.8%-1.2pp	26.0%+31.4pp	-5.4%-35.8pp	30.4%+15.0pp	15.5%+101.0pp	-85.5%-124.0pp	38.5%
Net Margin	20.8%+2.7pp	18.1%+1.3pp	16.8%+13.7pp	3.0%-19.1pp	22.1%+18.3pp	3.8%+90.5pp	-86.8%-112.5pp	25.7%
Return on Equity	1.9%+0.2pp	1.7%-0.3pp	2.0%+1.9pp	0.1%-2.1pp	2.2%+1.8pp	0.5%	N/A	2.6%
Return on Assets	1.8%+0.2pp	1.6%-0.3pp	1.9%+1.8pp	0.1%-2.1pp	2.1%+1.7pp	0.4%+2.2pp	-1.7%-4.1pp	2.4%
Current Ratio	26.69+2.1	24.56+2.6	22.01-16.7	38.68+2.3	36.36-12.8	49.18+32.3	16.84+2.0	14.88
Debt-to-Equity	0.040.0	0.040.0	0.05+0.0	0.030.0	0.030.0	0.02-0.0	0.060.0	0.07
FCF Margin	N/A	N/A	N/A	45.8%+14.1pp	31.7%+94.4pp	-62.7%	N/A	N/A

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Frequently Asked Questions

What is Wetouch Technology Inc's annual revenue?

Wetouch Technology Inc (WETH) reported $42.3M in total revenue for fiscal year 2024. This represents a 6.5% 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 Wetouch Technology Inc's revenue growing?

Wetouch Technology Inc (WETH) revenue grew by 6.5% year-over-year, from $39.7M to $42.3M in fiscal year 2024.

Is Wetouch Technology Inc profitable?

Yes, Wetouch Technology Inc (WETH) reported a net income of $6.0M in fiscal year 2024, with a net profit margin of 14.3%.

What is Wetouch Technology Inc's earnings per share (EPS)?

Wetouch Technology Inc (WETH) reported diluted earnings per share of $0.52 for fiscal year 2024. This represents a -41.6% 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.

What is Wetouch Technology Inc's EBITDA?

Wetouch Technology Inc (WETH) had EBITDA of $9.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Wetouch Technology Inc's gross margin?

Wetouch Technology Inc (WETH) had a gross margin of 32.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Wetouch Technology Inc's operating margin?

Wetouch Technology Inc (WETH) had an operating margin of 22.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Wetouch Technology Inc's net profit margin?

Wetouch Technology Inc (WETH) had a net profit margin of 14.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Wetouch Technology Inc's return on equity (ROE)?

Wetouch Technology Inc (WETH) has a return on equity of 4.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Wetouch Technology Inc's free cash flow?

Wetouch Technology Inc (WETH) generated $797K in free cash flow during fiscal year 2024. This represents a -92.4% 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 Wetouch Technology Inc's operating cash flow?

Wetouch Technology Inc (WETH) generated $1.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Wetouch Technology Inc's total assets?

Wetouch Technology Inc (WETH) had $128.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Wetouch Technology Inc's capital expenditures?

Wetouch Technology Inc (WETH) invested $272K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Wetouch Technology Inc have outstanding?

Wetouch Technology Inc (WETH) had 12M shares outstanding as of fiscal year 2024.

What is Wetouch Technology Inc's current ratio?

Wetouch Technology Inc (WETH) had a current ratio of 38.68 as of fiscal year 2024, which is generally considered healthy.

What is Wetouch Technology Inc's debt-to-equity ratio?

Wetouch Technology Inc (WETH) had a debt-to-equity ratio of 0.03 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Wetouch Technology Inc's return on assets (ROA)?

Wetouch Technology Inc (WETH) had a return on assets of 4.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Wetouch Technology Inc's Altman Z-Score?

Wetouch Technology Inc (WETH) has an Altman Z-Score of 5.95, placing it in the Safe Zone (low 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 Wetouch Technology Inc's Piotroski F-Score?

Wetouch Technology Inc (WETH) 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.

Are Wetouch Technology Inc's earnings high quality?

Wetouch Technology Inc (WETH) has an earnings quality ratio of 0.18x, 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.

Can Wetouch Technology Inc cover its interest payments?

Wetouch Technology Inc (WETH) has an interest coverage ratio of 8.0x, 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 Wetouch Technology Inc?

Wetouch Technology Inc (WETH) scores 63 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.