Fly-E Group, Inc.
FLYE Nasdaq Motor Vehicles & Passenger Car Bodies Financials FY2023–FY2026
Revenue
Total sales reported in the income statement.
$19.1M
25.0%
vs prior year
Operating margin
Operating income as a share of revenue.
−33.8%
15.8 pts
Net income
Profit after all expenses, interest and tax.
−$9.3M
Free cash flow
Cash from operations minus capital spending.
−$13.9M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−22.0%
3.2 pts
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 −$8.38 EPS (TTM)
What Fly-E Group, Inc. does
No business description yet.
- Legal name
- Fly-E Group, Inc.
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 10-K · Jul 23, 2026
- Accession · CIK
- 0001213900-26-080973
0001975940
Revenue and margins
Fly-E Group, Inc. had $19.1M of revenue in fiscal 2026, down 25.0% on the year before.
FY23
Revenue $21.8M
FY24
Revenue $32.2M
FY25
Revenue $25.4M
FY26
Revenue $19.1M
Q2 '24
Revenue $8.8M
Q3 '24
Revenue $7.4M
Q4 '24
Revenue $8.2M
Q1 '25
Revenue $7.9M
Q2 '25
Revenue $6.8M
Q3 '25
Revenue $5.7M
Q4 '25
Revenue $5.1M
Q1 '26
Revenue $5.3M
Q2 '26
Revenue $3.9M
Q3 '26
Revenue $2.6M
Q4 '26
Revenue $7.2M
Q1 '27
Revenue $2.7M
FY23
Gross 38.1%
Operating 10.6%
Net 6.3%
FCF —
FY24
Gross 40.7%
Operating 10.1%
Net 5.9%
FCF 9.5%
FY25
Gross 41.1%
Operating −17.9%
Net −20.8%
FCF −46.0%
FY26
Gross 24.4%
Operating −33.8%
Net −48.6%
FCF −73.0%
Gross
Operating
Net
FCF
Q2 '24
Gross 42.9%
Operating 12.4%
Net 8.5%
FCF 7.3%
Q3 '24
Gross 40.0%
Operating 2.6%
Net 0.3%
FCF 2.3%
Q4 '24
Gross 44.7%
Operating 14.9%
Net 8.4%
FCF 22.2%
Q1 '25
Gross 39.4%
Operating −0.6%
Net −2.3%
FCF −61.9%
Q2 '25
Gross 42.6%
Operating −18.0%
Net −16.7%
FCF −89.6%
Q3 '25
Gross 45.1%
Operating −16.6%
Net −12.1%
FCF −0.8%
Q4 '25
Gross 37.3%
Operating −46.4%
Net −65.0%
FCF −13.1%
Q1 '26
Gross 42.4%
Operating −28.2%
Net −37.7%
FCF −101.8%
Q2 '26
Gross 25.0%
Operating −26.8%
Net −45.4%
FCF −59.5%
Q3 '26
Gross 39.6%
Operating −58.8%
Net −72.6%
FCF −237.4%
Q4 '26
Gross 5.2%
Operating −32.4%
Net −49.5%
FCF 1.6%
Q1 '27
Gross 10.9%
Operating −128.7%
Net −143.3%
FCF −7.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY23
Net income $1.4M
FY24
Net income $1.9M
FY25
Net income −$5.3M
FY26
Net income −$9.3M
Q2 '24
Net income $0.7M
Q3 '24
Net income $0.0M
Q4 '24
Net income $0.7M
Q1 '25
Net income −$0.2M
Q2 '25
Net income −$1.1M
Q3 '25
Net income −$0.7M
Q4 '25
Net income −$3.3M
Q1 '26
Net income −$2.0M
Q2 '26
Net income −$1.8M
Q3 '26
Net income −$1.9M
Q4 '26
Net income −$3.5M
Q1 '27
Net income −$3.9M
FY23
Diluted EPS —
FY24
Diluted EPS —
FY25
Diluted EPS −$21.95
FY26
Diluted EPS −$8.38
Q2 '24
Diluted EPS —
Q3 '24
Diluted EPS —
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS —
Q2 '25
Diluted EPS —
Q3 '25
Diluted EPS −$2.78
Q4 '25
Diluted EPS —
Q1 '26
Diluted EPS −$6.00
Q2 '26
Diluted EPS —
Q3 '26
Diluted EPS −$1.18
Q4 '26
Diluted EPS —
Q1 '27
Diluted EPS −$2.41
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY23
Return on capital 58.9%
Return on equity 55.1%
Return on assets 8.0%
FY24
Return on capital 32.2%
Return on equity 40.8%
Return on assets 8.2%
FY25
Return on capital −25.2%
Return on equity −63.7%
Return on assets −16.9%
FY26
Return on capital −22.0%
Return on equity −67.9%
Return on assets −29.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$13.9M in fiscal 2026, −73.0% of revenue. Cash from operations minus capital spending.
FY23
Free cash flow —
FY24
Free cash flow $3.1M
FY25
Free cash flow −$11.7M
FY26
Free cash flow −$13.9M
Q2 '24
Free cash flow $0.6M
Q3 '24
Free cash flow $0.2M
Q4 '24
Free cash flow $1.8M
Q1 '25
Free cash flow −$4.9M
Q2 '25
Free cash flow −$6.1M
Q3 '25
Free cash flow −$0.0M
Q4 '25
Free cash flow −$0.7M
Q1 '26
Free cash flow −$5.4M
Q2 '26
Free cash flow −$2.3M
Q3 '26
Free cash flow −$6.3M
Q4 '26
Free cash flow $0.1M
Q1 '27
Free cash flow −$0.2M
FY23
Cash from operations $1.8M
Capital spending —
FY24
Cash from operations $4.3M
Capital spending $1.3M
FY25
Cash from operations −$10.1M
Capital spending $1.6M
FY26
Cash from operations −$13.8M
Capital spending $0.1M
Cash from operations
Capital spending
Q2 '24
Cash from operations $0.8M
Capital spending $0.1M
Q3 '24
Cash from operations $0.2M
Capital spending −$0.0M
Q4 '24
Cash from operations $2.6M
Capital spending $0.7M
Q1 '25
Cash from operations −$4.5M
Capital spending $0.4M
Q2 '25
Cash from operations −$4.9M
Capital spending $1.2M
Q3 '25
Cash from operations −$0.0M
Capital spending $0.0M
Q4 '25
Cash from operations −$0.6M
Capital spending $0.0M
Q1 '26
Cash from operations −$5.3M
Capital spending $0.1M
Q2 '26
Cash from operations −$2.4M
Capital spending −$0.1M
Q3 '26
Cash from operations −$6.3M
Capital spending $0.0M
Q4 '26
Cash from operations $0.1M
Capital spending $0.0M
Q1 '27
Cash from operations −$0.2M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Fly-E Group, Inc. returned — to shareholders in fiscal 2026. The diluted share count rose 358.1%.
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
FY26
Dividends —
Buybacks —
Dividends
Buybacks
FY23
Diluted shares 0.02B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
FY26
Diluted shares 0.00B
Balance sheet
Cash, debt and the ratios that show how comfortably Fly-E Group, Inc. can carry it.
FY23
Cash $0.4M
Debt $0.4M
FY24
Cash $1.4M
Debt $1.2M
FY25
Cash $0.8M
Debt $5.3M
FY26
Cash $0.3M
Debt $6.0M
Cash
Debt
| Fiscal year end | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash and short-term investments | $0.4M | $1.4M | $0.8M | $0.3M |
| Debt incl. finance leases | $0.4M | $1.2M | $5.3M | $6.0M |
| Net debt / EBITDA | 0.0x | −0.1x | — | — |
| Debt / equity | 0.2x | 0.2x | 0.5x | 0.3x |
| Interest coverage | 23.0x | 21.4x | −11.2x | — |
| Current ratio | 1.1x | 1.0x | 1.1x | 2.5x |
| Quick ratio | 0.3x | 0.4x | 0.6x | 2.1x |
| Total assets | $17.3M | $29.0M | $33.7M | $29.5M |
| Total liabilities | $14.8M | $22.2M | $23.9M | $12.1M |
| Shareholders' equity | $2.5M | $6.8M | $9.8M | $17.4M |
| Net debt (− = net cash) | $0.1M | −$0.2M | $4.5M | $5.7M |
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
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✕ | ✕ |
| Return on assets rose | — | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✕ | ✕ |
| Debt fell relative to assets | — | ✕ | ✕ | ✕ |
| Current ratio rose | — | ✕ | ✓ | ✓ |
| Share count didn't rise | — | ✓ | ✓ | ✕ |
| Gross margin rose | — | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | — | ✕ | ✕ | ✕ |
| F-score | — / 3 | 5 / 9 | 3 / 9 | 1 / 9 |
| Accruals ratio | −2.2% | −10.4% | 15.2% | 14.5% |
| Altman Z'' | 1.78 | 1.65 | −0.31 | 1.16 |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $21.8M | $32.2M | $25.4M | $19.1M |
| Net interest income | −$0.1M | −$0.2M | −$0.4M | −$1.8M |
| Gross profit | $8.3M | $13.1M | $10.5M | $4.7M |
| Research and development | — | $0.3M | $0.5M | $0.3M |
| Operating income | $2.3M | $3.3M | −$4.6M | −$6.4M |
| Interest expense | $0.1M | $0.2M | $0.4M | — |
| Pretax income | $2.2M | $3.1M | −$5.0M | −$8.9M |
| Income tax | $0.8M | $1.2M | $0.3M | $0.3M |
| Net income | $1.4M | $1.9M | −$5.3M | −$9.3M |
| Diluted EPS | — | — | −$21.95 | −$8.38 |
| Diluted shares | 0.02B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||
| Cash from operations | $1.8M | $4.3M | −$10.1M | −$13.8M |
| Capital expenditure | — | $1.3M | $1.6M | $0.1M |
| Free cash flow | — | $3.1M | −$11.7M | −$13.9M |
| Depreciation and amortization | $0.1M | $0.3M | $0.6M | $0.7M |
| Acquisitions | — | $1.3M | — | — |
| Balance sheet | ||||
| Cash and short-term investments | $0.4M | $1.4M | $0.8M | $0.3M |
| Total debt | $0.4M | $1.2M | $5.3M | $6.0M |
| Current assets | $5.5M | $8.1M | $14.0M | $16.8M |
| Current liabilities | $4.9M | $7.8M | $12.7M | $6.8M |
| Inventory | $3.8M | $5.4M | $6.4M | $2.3M |
| Property and equipment, net | $0.8M | $1.8M | $7.3M | $5.8M |
| Intangible assets | — | $0.0M | $0.5M | $0.4M |
| Total assets | $17.3M | $29.0M | $33.7M | $29.5M |
| Total liabilities | $14.8M | $22.2M | $23.9M | $12.1M |
| Shareholders' equity | $2.5M | $6.8M | $9.8M | $17.4M |
| Margins | ||||
| Gross margin | 38.1% | 40.7% | 41.1% | 24.4% |
| Operating margin | 10.6% | 10.1% | −17.9% | −33.8% |
| EBITDA margin | 11.3% | 11.0% | −15.5% | −30.0% |
| Net margin | 6.3% | 5.9% | −20.8% | −48.6% |
| FCF margin | — | 9.5% | −46.0% | −73.0% |
| Net interest share of revenue | −0.5% | −0.5% | −1.6% | −9.5% |
| Returns | ||||
| Return on capital | 58.9% | 32.2% | −25.2% | −22.0% |
| Return on capital employed | 18.7% | 15.4% | −21.7% | −28.4% |
| Return on equity | 55.1% | 40.8% | −63.7% | −67.9% |
| Return on assets | 8.0% | 8.2% | −16.9% | −29.3% |
| Return on tangible equity | 55.1% | 28.1% | −56.8% | −54.4% |
| Growth | ||||
| Revenue growth | — | 47.9% | −21.0% | −25.0% |
| Net income growth | — | 37.5% | −379.2% | — |
| FCF growth | — | — | −482.7% | — |
| Share count change | — | −80.0% | −94.5% | 358.1% |
| Financial health | ||||
| Net debt / EBITDA | 0.0x | −0.1x | — | — |
| Debt / equity | 0.2x | 0.2x | 0.5x | 0.3x |
| Interest coverage | 23.0x | 21.4x | −11.2x | — |
| Current ratio | 1.1x | 1.0x | 1.1x | 2.5x |
| Quick ratio | 0.3x | 0.4x | 0.6x | 2.1x |
| Capital allocation | ||||
| Capex / revenue | — | 3.9% | 6.4% | 0.4% |
| Quality scores | ||||
| Piotroski F-score | — | 5.0 | 3.0 | 1.0 |
| Altman Z'' | 1.8 | 1.6 | −0.3 | 1.2 |
| Accruals ratio | −2.2% | −10.4% | 15.2% | 14.5% |
Source: SEC EDGAR XBRL filings (CIK 0001975940). 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.