Zhongchao Inc. (ZCMD) 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 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the F-1/A for FY2025, filed May 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ZCMD SEC filings page.
Zhongchao Inc. (ZCMD) reported $11.4M in revenue for fiscal year 2025, down 28.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Zhongchao's low-debt business saw earnings weaken sharply while cash flow stayed positive through working-capital movement.
Debt-to-equity was just 0.1x and the current ratio was 11.1x in FY2025, indicating that earnings deterioration was not accompanied by heavy balance-sheet leverage or near-term liquidity strain. Equity fell from$20.8M to$18.6M , leaving a smaller cushion even without debt escalation.
SG&A nearly doubled from
Operating cash flow was positive at
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Zhongchao 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.
Zhongchao Inc. held $15.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $845K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Zhongchao Inc. scores 86/100 among other emerging companies.
Not available for Zhongchao Inc., and counted as zero in the overall score.
Zhongchao Inc. spent $8K on research and development in fiscal year 2025, which was 0.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Zhongchao Inc. scores 2/100 among other emerging companies.
Zhongchao Inc. reported revenue of $11.4M in fiscal year 2025, against $15.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Zhongchao Inc. scores 16/100 among other emerging companies.
Not available for Zhongchao Inc., and counted as zero in the overall score.
Zhongchao Inc.'s cash, cash equivalents and investments came to $15.2M at the end of fiscal year 2025, against $1.5M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Zhongchao Inc. scores 96/100 among other emerging companies.
Zhongchao Inc. scores 1.96, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($6.2M) relative to total liabilities ($1.5M). 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.
Zhongchao Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Zhongchao Inc. reported a net loss of $6.3M while generating $845K 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.
Zhongchao Inc. reported an operating loss of $6.2M against $343K 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
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Zhongchao Inc. held $8.1M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
ZCMD 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
ZCMD 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 | Q4'25F-1/A | Q2'256-K | Q4'24F-1/A | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q4'2210-K | Q2'2210-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $24.1M-6.7% | $26.3M+9.5% | $25.9M+6.0% | $24.0M-21.3% | $24.4M-36.8% | $30.5M-21.0% | $38.6M+6.5% | $38.7M+5.2% |
| Current Assets | $17.0M-9.3% | $19.1M+14.4% | $18.7M0.0% | $16.7M-10.0% | $18.7M-17.6% | $18.6M-34.0% | $22.7M-16.7% | $28.1M-3.6% |
| Cash & Equivalents | $8.1M+3.3% | $8.9M+41.9% | $7.8M+3.9% | $6.3M-44.4% | $7.5M-34.5% | $11.3M-1.7% | $11.5M-17.2% | $11.5M-9.3% |
| Short-Term Investments | $5.8M+11.1% | $6.1M+3.0% | $5.2M-11.1% | $5.9M+534.7% | $5.9M+1037.7% | $936K+78.5% | $518K+75.0% | $524K-82.1% |
| Inventory | N/A | N/A | $586K-1.0% | $301K-41.4% | $592K+213.3% | $513K | $189K | N/A |
| Accounts Receivable | $2.8M-40.6% | $3.5M+25.7% | $4.7M+83.4% | $2.8M-17.9% | $2.6M-62.3% | $3.4M-65.2% | $6.8M-26.5% | $9.7M-7.1% |
| Long-Term Investments | $1.2M+12.9% | $1.2M | $1.1M | $0 | $0-100.0% | $0 | $1.2M-40.8% | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | $5.5M | $5.8M | N/A |
| Total Liabilities | $1.5M-10.7% | $2.6M-22.8% | $1.7M-48.7% | $3.3M-1.2% | $3.4M-39.6% | $3.4M-37.7% | $5.6M+51.2% | $5.4M+48.1% |
| Current Liabilities | $1.5M-0.2% | $2.3M-15.2% | $1.5M-42.9% | $2.8M+58.7% | $2.7M-35.7% | $1.7M-55.8% | $4.2M+16.1% | $3.9M+8.7% |
| Non-Current Liabilities | $22K-89.1% | $214K-61.1% | $203K-70.9% | $550K-65.9% | $700K-51.0% | $1.6M+11.6% | $1.4M+1170.1% | $1.4M+11224.6% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $1.8M-30.8% | N/A |
| Total Equity | $18.6M-10.6% | $20.3M+14.7% | $20.8M+15.7% | $17.7M-27.3% | $18.0M-39.8% | $24.3M-27.0% | $29.9M-8.1% | $33.3M+0.4% |
| Retained Earnings | -$14.2M-78.3% | -$8.9M-25.0% | -$8.0M-9.5% | -$7.1M-1090.7% | -$7.3M-276.2% | -$598K-108.2% | $4.1M-42.6% | $7.3M-12.8% |
ZCMD 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.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
ZCMD 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| Zhongchao Inc. ZCMD | FY2025 | $11.4M | -$6.3M | -55.5% | $6.2M | 33/100 |
| OneMedNet Corp ONMD | FY2025 | $1.4M | -$2.8M | N/A | $27.4M | 17/100 |
| Mangoceuticals, Inc. MGRX | FY2025 | $456K | -$20.6M | N/A | $7.3M | — |
| Healthcare Triangle, Inc. HCTI | FY2025 | $13.9M | -$9.5M | -68.2% | $5.6M | 30/100 |
| Heartbeam, Inc. BEAT | FY2025 | N/A | -$21.0M | N/A | $22.1M | — |
Where Zhongchao Inc. Ranks
Frequently Asked Questions
What is Zhongchao Inc.'s annual revenue?
Zhongchao Inc. (ZCMD) reported $11.4M in total revenue for fiscal year 2025. This represents a -28.3% 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 Zhongchao Inc.'s revenue growing?
Zhongchao Inc. (ZCMD) revenue declined by 28.3% year-over-year, from $15.9M to $11.4M in fiscal year 2025.
Is Zhongchao Inc. profitable?
No, Zhongchao Inc. (ZCMD) reported a net income of -$6.3M in fiscal year 2025, with a net profit margin of -55.5%.
What is Zhongchao Inc.'s EBITDA?
Zhongchao Inc. (ZCMD) had EBITDA of -$5.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Zhongchao Inc.'s gross margin?
Zhongchao Inc. (ZCMD) had a gross margin of 45.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Zhongchao Inc.'s operating margin?
Zhongchao Inc. (ZCMD) had an operating margin of -54.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Zhongchao Inc.'s net profit margin?
Zhongchao Inc. (ZCMD) had a net profit margin of -55.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Zhongchao Inc.'s return on equity (ROE)?
Zhongchao Inc. (ZCMD) has a return on equity of -33.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Zhongchao Inc.'s operating cash flow?
Zhongchao Inc. (ZCMD) generated $845K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Zhongchao Inc.'s total assets?
Zhongchao Inc. (ZCMD) had $24.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Zhongchao Inc. spend on research and development?
Zhongchao Inc. (ZCMD) invested $8K in research and development during fiscal year 2025.
What is Zhongchao Inc.'s current ratio?
Zhongchao Inc. (ZCMD) had a current ratio of 11.11 as of fiscal year 2025, which is generally considered healthy.
What is Zhongchao Inc.'s debt-to-equity ratio?
Zhongchao Inc. (ZCMD) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zhongchao Inc.'s return on assets (ROA)?
Zhongchao Inc. (ZCMD) had a return on assets of -26.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Zhongchao Inc.'s P/E ratio?
Zhongchao Inc. (ZCMD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $6.2M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zhongchao Inc.'s price-to-sales ratio?
Zhongchao Inc. (ZCMD) trades at 0.5x sales, its market capitalization divided by revenue of $11.4M revenue, FY2025. The market capitalization is $6.2M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zhongchao Inc.'s Altman Z-Score?
Zhongchao Inc. (ZCMD) has an Altman Z-Score of 1.96, 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 Zhongchao Inc.'s Piotroski F-Score?
Zhongchao Inc. (ZCMD) has a Piotroski F-Score of 2 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 Zhongchao Inc.'s earnings high quality?
Zhongchao Inc. (ZCMD) reported a net loss of $6.3M while generating $845K 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 Zhongchao Inc. cover its interest payments?
Zhongchao Inc. (ZCMD) reported an operating loss of $6.2M against $343K 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 Zhongchao Inc.?
Zhongchao Inc. (ZCMD) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.