Ebang International Holdings Inc.
EBON Nasdaq Security & Commodity Brokers, Dealers, Exchanges & Services Financials FY2018โFY2025
Revenue
Total sales reported in the income statement.
$6.5M
11.4%
vs prior year
Operating margin
Operating income as a share of revenue.
โ387.0%
130.5ย pts
Net income
Profit after all expenses, interest and tax.
โ$14.1M
Free cash flow
Cash from operations minus capital spending.
โ$13.5M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$2.24 EPS (TTM)
What Ebang International Holdings Inc. does
No business description yet.
- Legal name
- Ebang International Holdings Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 24, 2026
- Accession ยท CIK
- 0001213900-26-047509
0001799290
Revenue and margins
Ebang International Holdings Inc. had $6.5M of revenue in fiscal 2025, up 11.4% on the year before.
FY18
Revenue $319M
FY19
Revenue $109M
FY20
Revenue $19.0M
FY21
Revenue $51.5M
FY22
Revenue $32.3M
FY23
Revenue $4.9M
FY24
Revenue $5.9M
FY25
Revenue $6.5M
FY18
Gross 7.7%
Operating โ9.7%
Net โ3.9%
FCF โ35.8%
FY19
Gross โ28.0%
Operating โ46.4%
Net โ38.9%
FCF โ17.5%
FY20
Gross โ15.3%
Operating โ140.2%
Net โ169.0%
FCF โ138.8%
FY21
Gross 56.8%
Operating 3.9%
Net 8.6%
FCF โ42.8%
FY22
Gross 47.7%
Operating โ148.4%
Net โ135.8%
FCF 4.2%
FY23
Gross โ344.0%
Operating โ1,104.8%
Net โ757.4%
FCF โ257.8%
FY24
Gross 20.3%
Operating โ517.5%
Net โ345.1%
FCF โ303.9%
FY25
Gross 6.0%
Operating โ387.0%
Net โ215.6%
FCF โ207.2%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY18
Net income โ$12.3M
FY19
Net income โ$42.4M
FY20
Net income โ$32.1M
FY21
Net income $4.4M
FY22
Net income โ$43.9M
FY23
Net income โ$36.8M
FY24
Net income โ$20.3M
FY25
Net income โ$14.1M
FY18
Diluted EPS โ$0.36
FY19
Diluted EPS โ$0.38
FY20
Diluted EPS โ$7.55
FY21
Diluted EPS $0.75
FY22
Diluted EPS โ$7.03
FY23
Diluted EPS โ$5.86
FY24
Diluted EPS โ$3.22
FY25
Diluted EPS โ$2.24
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY18
Return on capital โ
Return on equity โ18.1%
Return on assets โ
FY19
Return on capital โ
Return on equity โ90.8%
Return on assets โ51.3%
FY20
Return on capital โ37.5%
Return on equity โ47.4%
Return on assets โ28.3%
FY21
Return on capital 2.1%
Return on equity 1.9%
Return on assets 1.7%
FY22
Return on capital โ56.1%
Return on equity โ12.8%
Return on assets โ12.0%
FY23
Return on capital โ
Return on equity โ12.3%
Return on assets โ11.4%
FY24
Return on capital โ
Return on equity โ7.5%
Return on assets โ7.1%
FY25
Return on capital โ
Return on equity โ5.6%
Return on assets โ5.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$13.5M in fiscal 2025, โ207.2% of revenue. Cash from operations minus capital spending.
FY18
Free cash flow โ$114M
FY19
Free cash flow โ$19.1M
FY20
Free cash flow โ$26.4M
FY21
Free cash flow โ$22.0M
FY22
Free cash flow $1.3M
FY23
Free cash flow โ$12.5M
FY24
Free cash flow โ$17.8M
FY25
Free cash flow โ$13.5M
FY18
Cash from operations โ$108M
Capital spending $5.9M
FY19
Cash from operations โ$13.3M
Capital spending $5.8M
FY20
Cash from operations โ$15.5M
Capital spending $10.8M
FY21
Cash from operations โ$15.8M
Capital spending $6.2M
FY22
Cash from operations $5.2M
Capital spending $3.8M
FY23
Cash from operations โ$11.5M
Capital spending $1.0M
FY24
Cash from operations โ$17.6M
Capital spending $0.2M
FY25
Cash from operations โ$9.0M
Capital spending $4.5M
Cash from operations
Capital spending
Dividends, buybacks and share count
Ebang International Holdings Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY18
Dividends โ
Buybacks โ
FY19
Dividends โ
Buybacks โ
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY18
Diluted shares 0.03B
FY19
Diluted shares 0.11B
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.01B
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.01B
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.01B
Balance sheet
Cash, debt and the ratios that show how comfortably Ebang International Holdings Inc. can carry it.
FY18
Cash $19.5M
Debt โ
FY19
Cash $3.5M
Debt โ
FY20
Cash $54.5M
Debt $0.8M
FY21
Cash $275M
Debt $2.0M
FY22
Cash $257M
Debt $5.8M
FY23
Cash $242M
Debt โ
FY24
Cash $219M
Debt โ
FY25
Cash $206M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $275M | $257M | $242M | $219M | $206M |
| Debt incl. finance leases | $2.0M | $5.8M | โ | โ | โ |
| Net debt / EBITDA | โ33.0x | โ | โ | โ | โ |
| Debt / equity | 0.0x | 0.0x | โ | โ | โ |
| Interest coverage | 461.5x | โ | โ | โ | โ |
| Current ratio | 20.3x | 17.4x | 20.9x | 19.5x | 27.3x |
| Quick ratio | 19.8x | 17.3x | 20.8x | 19.4x | 26.9x |
| Total assets | $386M | $344M | $298M | $276M | $257M |
| Total liabilities | $16.9M | $22.4M | $16.9M | $15.4M | $11.7M |
| Shareholders' equity | $369M | $319M | $280M | $260M | $244M |
| Net debt (โ = net cash) | โ$273M | โ$251M | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 5 | 5 / 8 | 6 / 9 | 2 / 9 | 3 / 8 | 4 / 8 | 5 / 8 |
| Accruals ratio | โ | โ35.3% | โ14.6% | 7.7% | โ13.4% | โ7.9% | โ0.9% | โ1.9% |
| Altman Z'' | โ | โ4.77 | 2.80 | 27.52 | 18.12 | 20.13 | 20.52 | 24.63 |
8 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $319M | $109M | $19.0M | $51.5M | $32.3M | $4.9M | $5.9M | $6.5M |
| Gross profit | $24.4M | โ$30.6M | โ$2.9M | $29.2M | $15.4M | โ$16.7M | $1.2M | $0.4M |
| Research and development | $43.5M | $13.4M | $8.5M | $6.6M | $5.1M | $7.4M | $5.4M | $4.1M |
| Operating income | โ$31.1M | โ$50.6M | โ$26.6M | $2.0M | โ$48.0M | โ$53.6M | โ$30.4M | โ$25.3M |
| Interest expense | $0.9M | $2.0M | $0.7M | $0.0M | โ | โ | โ | โ |
| Pretax income | โ$10.9M | โ$40.7M | โ$22.9M | $2.4M | โ$45.8M | โ$39.1M | โ$20.9M | โ$14.5M |
| Income tax | $0.9M | $0.4M | $9.3M | โ$0.4M | โ$0.1M | โ$1.0M | โ$0.0M | โ$0.3M |
| Net income | โ$12.3M | โ$42.4M | โ$32.1M | $4.4M | โ$43.9M | โ$36.8M | โ$20.3M | โ$14.1M |
| Net income to common | โ | โ$41.1M | โ$32.1M | $4.4M | โ$43.9M | โ$36.8M | โ$20.3M | โ$14.1M |
| Diluted EPS | โ$0.36 | โ$0.38 | โ$7.55 | $0.75 | โ$7.03 | โ$5.86 | โ$3.22 | โ$2.24 |
| Diluted shares | 0.03B | 0.11B | 0.00B | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B |
| Cash flow | ||||||||
| Cash from operations | โ$108M | โ$13.3M | โ$15.5M | โ$15.8M | $5.2M | โ$11.5M | โ$17.6M | โ$9.0M |
| Capital expenditure | $5.9M | $5.8M | $10.8M | $6.2M | $3.8M | $1.0M | $0.2M | $4.5M |
| Free cash flow | โ$114M | โ$19.1M | โ$26.4M | โ$22.0M | $1.3M | โ$12.5M | โ$17.8M | โ$13.5M |
| Depreciation and amortization | $4.8M | $8.9M | $7.2M | $6.3M | $10.7M | $3.5M | $2.6M | $2.6M |
| Stock-based compensation | โ | โ | โ | $0.7M | $3.9M | โ$0.2M | โ$1.0M | $0.4M |
| Acquisitions | โ | โ | โ | โ | $5.9M | โ | $0.3M | โ |
| Balance sheet | ||||||||
| Cash and short-term investments | $19.5M | $3.5M | $54.5M | $275M | $257M | $242M | $219M | $206M |
| Total debt | โ | โ | $0.8M | $2.0M | $5.8M | โ | โ | โ |
| Current assets | โ | $28.8M | $68.6M | $299M | $269M | $250M | $231M | $216M |
| Current liabilities | โ | $39.0M | $34.3M | $14.7M | $15.5M | $12.0M | $11.9M | $7.9M |
| Inventory | โ | $13.1M | $3.8M | $7.1M | $0.4M | $0.2M | $0.6M | $3.6M |
| Property and equipment, net | โ | $13.2M | $29.1M | $33.3M | $36.5M | $33.2M | $29.9M | $29.8M |
| Goodwill | โ | โ | โ | โ | $2.3M | โ | $1.3M | โ |
| Intangible assets | โ | $3.8M | $23.1M | $22.5M | $6.9M | $2.3M | $3.3M | $2.2M |
| Total assets | โ | $82.6M | $144M | $386M | $344M | $298M | $276M | $257M |
| Total liabilities | โ | $57.0M | $34.4M | $16.9M | $22.4M | $16.9M | $15.4M | $11.7M |
| Shareholders' equity | $67.8M | $25.6M | $110M | $369M | $319M | $280M | $260M | $244M |
| Margins | ||||||||
| Gross margin | 7.7% | โ28.0% | โ15.3% | 56.8% | 47.7% | โ344.0% | 20.3% | 6.0% |
| Operating margin | โ9.7% | โ46.4% | โ140.2% | 3.9% | โ148.4% | โ1,104.8% | โ517.5% | โ387.0% |
| EBITDA margin | โ8.2% | โ38.3% | โ102.6% | 16.1% | โ115.3% | โ1,032.3% | โ473.2% | โ347.9% |
| Net margin | โ3.9% | โ38.9% | โ169.0% | 8.6% | โ135.8% | โ757.4% | โ345.1% | โ215.6% |
| FCF margin | โ35.8% | โ17.5% | โ138.8% | โ42.8% | 4.2% | โ257.8% | โ303.9% | โ207.2% |
| Returns | ||||||||
| Return on capital | โ | โ | โ37.5% | 2.1% | โ56.1% | โ | โ | โ |
| Return on capital employed | โ | โ116.3% | โ24.2% | 0.5% | โ14.6% | โ18.7% | โ11.5% | โ10.2% |
| Return on equity | โ18.1% | โ90.8% | โ47.4% | 1.9% | โ12.8% | โ12.3% | โ7.5% | โ5.6% |
| Return on assets | โ | โ51.3% | โ28.3% | 1.7% | โ12.0% | โ11.4% | โ7.1% | โ5.3% |
| Return on tangible equity | โ18.1% | โ188.5% | โ37.0% | 1.3% | โ14.2% | โ13.3% | โ7.9% | โ5.8% |
| Growth | ||||||||
| Revenue growth | โ | โ65.8% | โ82.6% | 170.7% | โ37.2% | โ85.0% | 20.9% | 11.4% |
| Net income growth | โ | โ | โ | โ | โ1,090.5% | โ | โ | โ |
| EPS growth | โ | โ | โ | โ | โ1,037.3% | โ | โ | โ |
| FCF growth | โ | โ | โ | โ | โ | โ1,027.5% | โ | โ |
| Share count change | โ | 230.6% | โ96.4% | 45.9% | 5.4% | 0.4% | 0.1% | 0.0% |
| Financial health | ||||||||
| Net debt / EBITDA | โ | โ | โ | โ33.0x | โ | โ | โ | โ |
| Debt / equity | โ | โ | 0.0x | 0.0x | 0.0x | โ | โ | โ |
| Interest coverage | โ33.7x | โ24.8x | โ36.6x | 461.5x | โ | โ | โ | โ |
| Current ratio | โ | 0.7x | 2.0x | 20.3x | 17.4x | 20.9x | 19.5x | 27.3x |
| Quick ratio | โ | 0.4x | 1.9x | 19.8x | 17.3x | 20.8x | 19.4x | 26.9x |
| Capital allocation | ||||||||
| Capex / revenue | 1.9% | 5.3% | 57.0% | 12.0% | 11.8% | 20.3% | 3.8% | 68.8% |
| Stock comp / revenue | โ | โ | โ | 1.4% | 12.1% | โ3.2% | โ17.3% | 5.6% |
| Quality scores | ||||||||
| Piotroski F-score | โ | โ | 5.0 | 6.0 | 2.0 | 3.0 | 4.0 | 5.0 |
| Altman Z'' | โ | โ4.8 | 2.8 | 27.5 | 18.1 | 20.1 | 20.5 | 24.6 |
| Accruals ratio | โ | โ35.3% | โ14.6% | 7.7% | โ13.4% | โ7.9% | โ0.9% | โ1.9% |
Source: SEC EDGAR XBRL filings (CIK 0001799290). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.