GigaCloud Technology Inc
GCT Nasdaq Retail-Catalog & Mail-Order Houses Financials FY2021–FY2025
Revenue
Total sales reported in the income statement.
$1.3B
11.1%
vs prior year
Operating margin
Operating income as a share of revenue.
11.2%
0.0 pts
Net income
Profit after all expenses, interest and tax.
$137M
9.2%
Free cash flow
Cash from operations minus capital spending.
$183M
28.2%
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 $4.20 EPS (TTM)
What GigaCloud Technology Inc does
No business description yet.
- Legal name
- GigaCloud Technology Inc
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Accession · CIK
- 0001857816-26-000018
0001857816
Revenue and margins
GigaCloud Technology Inc had $1.3B of revenue in fiscal 2025, up 11.1% on the year before.
FY21
Revenue $414M
FY22
Revenue $490M
FY23
Revenue $704M
FY24
Revenue $1.2B
FY25
Revenue $1.3B
Q3 '23
Revenue $178M
Q4 '23
Revenue $245M
Q1 '24
Revenue $251M
Q2 '24
Revenue $311M
Q3 '24
Revenue $303M
Q4 '24
Revenue $296M
Q1 '25
Revenue $272M
Q2 '25
Revenue $323M
Q3 '25
Revenue $333M
Q4 '25
Revenue $363M
Q1 '26
Revenue $359M
Q2 '26
Revenue $412M
FY21
Gross 21.6%
Operating 9.5%
Net 7.1%
FCF 1.6%
FY22
Gross 17.0%
Operating 7.1%
Net 4.9%
FCF 10.0%
FY23
Gross 26.8%
Operating 15.6%
Net 13.4%
FCF 18.3%
FY24
Gross 24.6%
Operating 11.3%
Net 10.8%
FCF 12.3%
FY25
Gross 23.3%
Operating 11.2%
Net 10.6%
FCF 14.2%
Gross
Operating
Net
FCF
Q3 '23
Gross 27.4%
Operating 17.8%
Net 13.6%
FCF 24.4%
Q4 '23
Gross 28.5%
Operating 15.2%
Net 14.5%
FCF 19.3%
Q1 '24
Gross 26.5%
Operating 13.9%
Net 10.8%
FCF 4.5%
Q2 '24
Gross 24.6%
Operating 8.8%
Net 8.7%
FCF 4.2%
Q3 '24
Gross 25.5%
Operating 13.4%
Net 13.4%
FCF 16.9%
Q4 '24
Gross 22.0%
Operating 9.3%
Net 10.5%
FCF 22.6%
Q1 '25
Gross 23.4%
Operating 10.4%
Net 10.0%
FCF 2.6%
Q2 '25
Gross 23.9%
Operating 11.1%
Net 10.7%
FCF 11.5%
Q3 '25
Gross 23.2%
Operating 12.2%
Net 11.2%
FCF 23.2%
Q4 '25
Gross 22.9%
Operating 11.1%
Net 10.6%
FCF 17.0%
Q1 '26
Gross 23.9%
Operating 11.8%
Net 10.6%
FCF −7.3%
Q2 '26
Gross 25.6%
Operating 11.5%
Net 10.3%
FCF 11.0%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2021 to 2025, diluted EPS grew 42.1% a year. Loss periods are shown in red.
FY21
Net income $29.3M
FY22
Net income $24.0M
FY23
Net income $94.1M
FY24
Net income $126M
FY25
Net income $137M
Q3 '23
Net income $24.2M
Q4 '23
Net income $35.6M
Q1 '24
Net income $27.2M
Q2 '24
Net income $27.0M
Q3 '24
Net income $40.7M
Q4 '24
Net income $31.0M
Q1 '25
Net income $27.1M
Q2 '25
Net income $34.6M
Q3 '25
Net income $37.2M
Q4 '25
Net income $38.5M
Q1 '26
Net income $38.1M
Q2 '26
Net income $42.3M
FY21
Diluted EPS $0.88
FY22
Diluted EPS $0.60
FY23
Diluted EPS $2.30
FY24
Diluted EPS $3.05
FY25
Diluted EPS $3.59
Q3 '23
Diluted EPS $0.59
Q4 '23
Diluted EPS $0.87
Q1 '24
Diluted EPS $0.66
Q2 '24
Diluted EPS $0.65
Q3 '24
Diluted EPS $0.98
Q4 '24
Diluted EPS $0.76
Q1 '25
Diluted EPS $0.68
Q2 '25
Diluted EPS $0.91
Q3 '25
Diluted EPS $0.99
Q4 '25
Diluted EPS $1.01
Q1 '26
Diluted EPS $1.04
Q2 '26
Diluted EPS $1.16
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital —
Return on equity 29.5%
Return on assets —
FY22
Return on capital 51.8%
Return on equity 16.3%
Return on assets 5.7%
FY23
Return on capital 84.1%
Return on equity 38.8%
Return on assets 14.9%
FY24
Return on capital —
Return on equity 36.2%
Return on assets 13.1%
FY25
Return on capital —
Return on equity 30.8%
Return on assets 12.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $183M in fiscal 2025, 14.2% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow $6.7M
FY22
Free cash flow $48.9M
FY23
Free cash flow $129M
FY24
Free cash flow $143M
FY25
Free cash flow $183M
Q3 '23
Free cash flow $43.4M
Q4 '23
Free cash flow $47.2M
Q1 '24
Free cash flow $11.3M
Q2 '24
Free cash flow $12.9M
Q3 '24
Free cash flow $51.4M
Q4 '24
Free cash flow $66.9M
Q1 '25
Free cash flow $7.0M
Q2 '25
Free cash flow $37.0M
Q3 '25
Free cash flow $77.1M
Q4 '25
Free cash flow $61.7M
Q1 '26
Free cash flow −$26.2M
Q2 '26
Free cash flow $45.1M
FY21
Cash from operations $8.6M
Capital spending $1.8M
FY22
Cash from operations $49.7M
Capital spending $0.7M
FY23
Cash from operations $133M
Capital spending $4.4M
FY24
Cash from operations $158M
Capital spending $15.5M
FY25
Cash from operations $191M
Capital spending $7.9M
Cash from operations
Capital spending
Q3 '23
Cash from operations $44.1M
Capital spending $0.7M
Q4 '23
Cash from operations $50.7M
Capital spending $3.6M
Q1 '24
Cash from operations $15.3M
Capital spending $4.0M
Q2 '24
Cash from operations $19.1M
Capital spending $6.2M
Q3 '24
Cash from operations $55.2M
Capital spending $3.8M
Q4 '24
Cash from operations $68.4M
Capital spending $1.5M
Q1 '25
Cash from operations $9.4M
Capital spending $2.4M
Q2 '25
Cash from operations $38.6M
Capital spending $1.6M
Q3 '25
Cash from operations $78.3M
Capital spending $1.2M
Q4 '25
Cash from operations $64.4M
Capital spending $2.7M
Q1 '26
Cash from operations −$21.7M
Capital spending $4.5M
Q2 '26
Cash from operations $48.4M
Capital spending $3.3M
Cash from operations
Capital spending
Dividends, buybacks and share count
GigaCloud Technology Inc returned — to shareholders in fiscal 2025. The diluted share count fell 7.2%.
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY21
Diluted shares 0.01B
FY22
Diluted shares 0.02B
FY23
Diluted shares 0.04B
FY24
Diluted shares 0.04B
FY25
Diluted shares 0.04B
Balance sheet
Cash, debt and the ratios that show how comfortably GigaCloud Technology Inc can carry it.
FY21
Cash $63.9M
Debt —
FY22
Cash $144M
Debt $0.4M
FY23
Cash $183M
Debt $1.8M
FY24
Cash $302M
Debt —
FY25
Cash $416M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $63.9M | $144M | $183M | $302M | $416M |
| Debt incl. finance leases | — | $0.4M | $1.8M | — | — |
| Net debt / EBITDA | — | −3.9x | −1.6x | — | — |
| Debt / equity | — | 0.0x | 0.0x | — | — |
| Interest coverage | 127.4x | 61.7x | 88.8x | 510.2x | 724.9x |
| Current ratio | — | 2.5x | 1.9x | 2.1x | 2.0x |
| Quick ratio | — | 1.8x | 1.3x | 1.4x | 1.5x |
| Total assets | — | $419M | $847M | $1.1B | $1.2B |
| Total liabilities | — | $223M | $556M | $665M | $717M |
| Shareholders' equity | $99.2M | $195M | $290M | $405M | $486M |
| Net debt (− = net cash) | — | −$143M | −$182M | — | — |
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
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ | — | — |
| Current ratio rose | — | — | ✕ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✓ |
| Gross margin rose | — | ✕ | ✓ | ✕ | ✕ |
| Revenue rose relative to assets | — | — | ✕ | ✓ | ✕ |
| F-score | — / 3 | — / 5 | 6 / 9 | 6 / 8 | 4 / 8 |
| Accruals ratio | — | −6.1% | −6.2% | −3.4% | −4.7% |
| Altman Z'' | — | 4.57 | 3.55 | 4.11 | 4.51 |
5 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $414M | $490M | $704M | $1.2B | $1.3B |
| Gross profit | $89.6M | $83.1M | $189M | $285M | $301M |
| Research and development | $0.0M | $1.4M | $3.9M | $9.8M | $10.8M |
| Operating income | $39.4M | $35.0M | $110M | $131M | $145M |
| Interest expense | $0.3M | $0.6M | $1.2M | $0.3M | $0.2M |
| Pretax income | $37.7M | $31.2M | $115M | $141M | $161M |
| Income tax | $8.5M | $7.2M | $20.9M | $14.8M | $23.8M |
| Net income | $29.3M | $24.0M | $94.1M | $126M | $137M |
| Net income to common | $27.8M | $23.0M | $94.1M | $126M | — |
| Diluted EPS | $0.88 | $0.60 | $2.30 | $3.05 | $3.59 |
| Diluted shares | 0.01B | 0.02B | 0.04B | 0.04B | 0.04B |
| Cash flow | |||||
| Cash from operations | $8.6M | $49.7M | $133M | $158M | $191M |
| Capital expenditure | $1.8M | $0.7M | $4.4M | $15.5M | $7.9M |
| Free cash flow | $6.7M | $48.9M | $129M | $143M | $183M |
| Depreciation and amortization | $0.8M | $1.4M | $2.9M | $8.5M | $8.3M |
| Stock-based compensation | $9.7M | $9.2M | $2.5M | $16.8M | $5.0M |
| Acquisitions | $0.0M | $0.0M | $86.6M | $0.0M | $0.0M |
| Balance sheet | |||||
| Cash and short-term investments | $63.9M | $144M | $183M | $302M | $416M |
| Total debt | — | $0.4M | $0.0M | — | — |
| Finance lease liabilities | — | — | $1.8M | $0.5M | $1.0M |
| Current assets | — | $258M | $393M | $548M | $691M |
| Current liabilities | — | $103M | $206M | $264M | $342M |
| Inventory | — | $78.3M | $132M | $172M | $188M |
| Property and equipment, net | — | $13.1M | $24.6M | $29.5M | — |
| Goodwill | — | $0.0M | $12.6M | $12.6M | $12.6M |
| Intangible assets | $0.0M | $0.0M | $8.4M | $6.2M | $5.0M |
| Total assets | — | $419M | $847M | $1.1B | $1.2B |
| Total liabilities | — | $223M | $556M | $665M | $717M |
| Shareholders' equity | $99.2M | $195M | $290M | $405M | $486M |
| Margins | |||||
| Gross margin | 21.6% | 17.0% | 26.8% | 24.6% | 23.3% |
| Operating margin | 9.5% | 7.1% | 15.6% | 11.3% | 11.2% |
| EBITDA margin | 9.7% | 7.4% | 16.0% | 12.0% | 11.9% |
| Net margin | 7.1% | 4.9% | 13.4% | 10.8% | 10.6% |
| FCF margin | 1.6% | 10.0% | 18.3% | 12.3% | 14.2% |
| Returns | |||||
| Return on capital | — | 51.8% | 84.1% | — | — |
| Return on capital employed | — | 11.1% | 17.2% | 16.2% | 16.9% |
| Return on equity | 29.5% | 16.3% | 38.8% | 36.2% | 30.8% |
| Return on assets | — | 5.7% | 14.9% | 13.1% | 12.1% |
| Return on tangible equity | 28.0% | 11.8% | 34.9% | 32.6% | 29.3% |
| Growth | |||||
| Revenue growth | — | 18.3% | 43.6% | 65.0% | 11.1% |
| Net income growth | — | −18.1% | 292.6% | 33.7% | 9.2% |
| EPS growth | — | −31.8% | 283.3% | 32.6% | 17.7% |
| FCF growth | — | 627.2% | 163.7% | 10.4% | 28.2% |
| Share count change | — | 138.2% | 67.6% | 0.7% | −7.2% |
| Financial health | |||||
| Net debt / EBITDA | — | −3.9x | −1.6x | — | — |
| Debt / equity | — | 0.0x | 0.0x | — | — |
| Interest coverage | 127.4x | 61.7x | 88.8x | 510.2x | 724.9x |
| Current ratio | — | 2.5x | 1.9x | 2.1x | 2.0x |
| Quick ratio | — | 1.8x | 1.3x | 1.4x | 1.5x |
| Capital allocation | |||||
| Capex / revenue | 0.4% | 0.1% | 0.6% | 1.3% | 0.6% |
| Stock comp / revenue | 2.3% | 1.9% | 0.4% | 1.4% | 0.4% |
| Quality scores | |||||
| Piotroski F-score | — | — | 6.0 | 6.0 | 4.0 |
| Altman Z'' | — | 4.6 | 3.6 | 4.1 | 4.5 |
| Accruals ratio | — | −6.1% | −6.2% | −3.4% | −4.7% |
Source: SEC EDGAR XBRL filings (CIK 0001857816). 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.