HWH International Inc.
ESYN Nasdaq Wholesale-Drugs, Proprietaries & Druggists' Sundries Financials FY2022–FY2025
Revenue
Total sales reported in the income statement.
$0.9M
30.8%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$2.6M
Free cash flow
Cash from operations minus capital spending.
−$1.8M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.40 EPS (TTM)
What HWH International Inc. does
No business description yet.
- Legal name
- HWH International Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 26, 2026
- Accession · CIK
- 0001493152-26-012738
0001897245
Revenue and margins
HWH International Inc. had $0.9M of revenue in fiscal 2025, down 30.8% on the year before.
FY22
Revenue —
FY23
Revenue —
FY24
Revenue $1.3M
FY25
Revenue $0.9M
Q3 '23
Revenue $0.2M
Q4 '23
Revenue —
Q1 '24
Revenue $0.3M
Q2 '24
Revenue $0.3M
Q3 '24
Revenue $0.3M
Q4 '24
Revenue $0.3M
Q1 '25
Revenue $0.3M
Q2 '25
Revenue $0.3M
Q3 '25
Revenue $0.2M
Q4 '25
Revenue $0.1M
Q1 '26
Revenue $0.1M
Q2 '26
Revenue $0.1M
FY22
Gross —
Operating —
Net —
FCF —
FY23
Gross —
Operating —
Net —
FCF —
FY24
Gross 48.0%
Operating —
Net −219.4%
FCF −147.6%
FY25
Gross 53.0%
Operating —
Net −303.4%
FCF −204.2%
Gross
Operating
Net
FCF
Q3 '23
Gross 61.9%
Operating —
Net −69.5%
FCF —
Q4 '23
Gross —
Operating —
Net —
FCF —
Q1 '24
Gross 57.1%
Operating —
Net −467.2%
FCF −223.8%
Q2 '24
Gross 49.2%
Operating —
Net −115.8%
FCF −154.3%
Q3 '24
Gross 46.3%
Operating —
Net −158.8%
FCF −80.2%
Q4 '24
Gross 39.6%
Operating —
Net −166.0%
FCF −144.7%
Q1 '25
Gross 50.0%
Operating —
Net −191.4%
FCF —
Q2 '25
Gross 14.2%
Operating —
Net 26.9%
FCF —
Q3 '25
Gross 59.8%
Operating —
Net −140.7%
FCF −105.4%
Q4 '25
Gross 72.7%
Operating —
Net −3,562.3%
FCF −1,872.0%
Q1 '26
Gross 73.7%
Operating —
Net −975.4%
FCF −301.1%
Q2 '26
Gross 31.8%
Operating —
Net 330.2%
FCF 744.5%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income $0.1M
FY23
Net income $0.5M
FY24
Net income −$2.8M
FY25
Net income −$2.6M
Q3 '23
Net income −$0.2M
Q4 '23
Net income −$0.2M
Q1 '24
Net income −$1.3M
Q2 '24
Net income −$0.4M
Q3 '24
Net income −$0.5M
Q4 '24
Net income −$0.5M
Q1 '25
Net income −$0.6M
Q2 '25
Net income $0.1M
Q3 '25
Net income −$0.3M
Q4 '25
Net income −$1.9M
Q1 '26
Net income −$0.6M
Q2 '26
Net income $0.2M
FY22
Diluted EPS —
FY23
Diluted EPS —
FY24
Diluted EPS −$0.76
FY25
Diluted EPS −$0.40
Q3 '23
Diluted EPS —
Q4 '23
Diluted EPS —
Q1 '24
Diluted EPS —
Q2 '24
Diluted EPS —
Q3 '24
Diluted EPS —
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS −$0.09
Q2 '25
Diluted EPS $0.01
Q3 '25
Diluted EPS —
Q4 '25
Diluted EPS —
Q1 '26
Diluted EPS −$0.08
Q2 '26
Diluted EPS $0.03
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital —
Return on equity —
Return on assets 0.1%
FY23
Return on capital —
Return on equity —
Return on assets 1.0%
FY24
Return on capital —
Return on equity —
Return on assets −18.3%
FY25
Return on capital —
Return on equity −97.7%
Return on assets −47.9%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$1.8M in fiscal 2025, −204.2% of revenue. Cash from operations minus capital spending.
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow −$1.8M
FY25
Free cash flow −$1.8M
Q3 '23
Free cash flow —
Q4 '23
Free cash flow —
Q1 '24
Free cash flow −$0.6M
Q2 '24
Free cash flow −$0.5M
Q3 '24
Free cash flow −$0.3M
Q4 '24
Free cash flow −$0.4M
Q1 '25
Free cash flow —
Q2 '25
Free cash flow —
Q3 '25
Free cash flow −$0.2M
Q4 '25
Free cash flow −$1.0M
Q1 '26
Free cash flow −$0.2M
Q2 '26
Free cash flow $0.5M
FY22
Cash from operations −$0.5M
Capital spending —
FY23
Cash from operations −$1.5M
Capital spending —
FY24
Cash from operations −$1.8M
Capital spending $0.0M
FY25
Cash from operations −$1.8M
Capital spending $0.0M
Cash from operations
Capital spending
Q3 '23
Cash from operations −$0.5M
Capital spending —
Q4 '23
Cash from operations −$0.2M
Capital spending —
Q1 '24
Cash from operations −$0.6M
Capital spending $0.0M
Q2 '24
Cash from operations −$0.5M
Capital spending $0.0M
Q3 '24
Cash from operations −$0.3M
Capital spending $0.0M
Q4 '24
Cash from operations −$0.4M
Capital spending $0.0M
Q1 '25
Cash from operations −$0.6M
Capital spending —
Q2 '25
Cash from operations $0.0M
Capital spending —
Q3 '25
Cash from operations −$0.2M
Capital spending $0.0M
Q4 '25
Cash from operations −$1.0M
Capital spending $0.0M
Q1 '26
Cash from operations −$0.2M
Capital spending $0.0M
Q2 '26
Cash from operations $0.5M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
HWH International Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 81.9%.
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks $68.4M
FY24
Dividends —
Buybacks $21.1M
FY25
Dividends —
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks $0.0M
Q4 '23
Dividends —
Buybacks $0.0M
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks $0.0M
Q4 '24
Dividends —
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY22
Diluted shares —
FY23
Diluted shares —
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.01B
Balance sheet
Cash, debt and the ratios that show how comfortably HWH International Inc. can carry it.
FY22
Cash $1.2M
Debt —
FY23
Cash $1.2M
Debt —
FY24
Cash $4.4M
Debt —
FY25
Cash $2.2M
Debt —
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $1.2M | $1.2M | $4.4M | $2.2M |
| Current ratio | 3.2x | 0.2x | 1.7x | 2.3x |
| Quick ratio | 3.2x | 0.2x | 1.7x | 2.3x |
| Total assets | $89.3M | $23.7M | $6.4M | $4.6M |
| Total liabilities | $3.4M | $27.3M | $3.6M | $1.9M |
| Shareholders' equity | −$2.0M | −$3.6M | $2.8M | $2.6M |
| Net debt (− = net cash) | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' 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
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✓ | ✕ | ✕ |
| Cash from operations exceeds net income | ✕ | ✕ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | — |
| Current ratio rose | — | ✕ | ✓ | ✓ |
| Share count didn't rise | — | — | — | ✕ |
| Gross margin rose | — | — | — | ✓ |
| Revenue rose relative to assets | — | — | — | ✕ |
| F-score | — / 3 | — / 5 | — / 5 | 3 / 8 |
| Accruals ratio | 0.7% | 3.7% | −6.2% | −16.0% |
| Altman Z'' | — | — | — | — |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | — | — | $1.3M | $0.9M |
| Gross profit | — | — | $0.6M | $0.5M |
| Interest expense | — | — | $0.1M | $0.1M |
| Pretax income | $0.3M | $1.0M | −$2.8M | −$2.6M |
| Income tax | $0.2M | $0.4M | — | $0.0M |
| Net income | $0.1M | $0.5M | −$2.8M | −$2.6M |
| Diluted EPS | — | — | −$0.76 | −$0.40 |
| Diluted shares | — | — | 0.00B | 0.01B |
| Cash flow | ||||
| Cash from operations | −$0.5M | −$1.5M | −$1.8M | −$1.8M |
| Capital expenditure | — | — | $0.0M | $0.0M |
| Free cash flow | — | — | −$1.8M | −$1.8M |
| Depreciation and amortization | — | — | $0.0M | $0.0M |
| Stock-based compensation | — | — | — | $1.6M |
| Share buybacks | — | $68.4M | $21.1M | — |
| Dividends and buybacks | — | $68.4M | $21.1M | — |
| Balance sheet | ||||
| Cash and short-term investments | $1.2M | $1.2M | $4.4M | $2.2M |
| Current assets | $1.2M | $1.3M | $5.5M | $3.0M |
| Current liabilities | $0.4M | $6.0M | $3.3M | $1.3M |
| Inventory | — | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | — | $0.1M | $0.0M | $0.0M |
| Goodwill | — | — | $0.0M | $0.1M |
| Total assets | $89.3M | $23.7M | $6.4M | $4.6M |
| Total liabilities | $3.4M | $27.3M | $3.6M | $1.9M |
| Shareholders' equity | −$2.0M | −$3.6M | $2.8M | $2.6M |
| Margins | ||||
| Gross margin | — | — | 48.0% | 53.0% |
| Net margin | — | — | −219.4% | −303.4% |
| FCF margin | — | — | −147.6% | −204.2% |
| Returns | ||||
| Return on equity | — | — | — | −97.7% |
| Return on assets | 0.1% | 1.0% | −18.3% | −47.9% |
| Return on tangible equity | — | — | −99.4% | −105.1% |
| Growth | ||||
| Revenue growth | — | — | — | −30.8% |
| Net income growth | — | 383.6% | −601.0% | — |
| Share count change | — | — | — | 81.9% |
| Financial health | ||||
| Current ratio | 3.2x | 0.2x | 1.7x | 2.3x |
| Quick ratio | 3.2x | 0.2x | 1.7x | 2.3x |
| Capital allocation | ||||
| Capex / revenue | — | — | 2.4% | 2.2% |
| Stock comp / revenue | — | — | — | 182.3% |
| Quality scores | ||||
| Piotroski F-score | — | — | — | 3.0 |
| Accruals ratio | 0.7% | 3.7% | −6.2% | −16.0% |
Source: SEC EDGAR XBRL filings (CIK 0001897245). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.