High-Trend International Group
HTCO Nasdaq Deep Sea Foreign Transportation Of Freight Financials FY2020โFY2025
Revenue
Total sales reported in the income statement.
$214M
98.2%
vs prior year
Operating margin
Operating income as a share of revenue.
โ9.3%
11.4ย pts
Net income
Profit after all expenses, interest and tax.
โ$21.5M
Free cash flow
Cash from operations minus capital spending.
$4.6M
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$4.18 EPS (TTM)
What High-Trend International Group does
No business description yet.
- Legal name
- High-Trend International Group
- Fiscal year ends
- October 31, 2025
- Latest annual report
- 20-F ยท Jan 23, 2026
- Accession ยท CIK
- 0001213900-26-007246
0001928948
Revenue and margins
High-Trend International Group had $214M of revenue in fiscal 2025, up 98.2% on the year before.
FY20
Revenue $78.4M
FY21
Revenue $122M
FY22
Revenue $185M
FY23
Revenue $95.3M
FY24
Revenue $108M
FY25
Revenue $214M
FY20
Gross โ5.0%
Operating โ7.3%
Net โ4.0%
FCF 1.4%
FY21
Gross 10.6%
Operating 8.6%
Net 4.4%
FCF โ
FY22
Gross 14.5%
Operating 12.7%
Net 6.6%
FCF โ
FY23
Gross โ12.5%
Operating โ16.4%
Net โ9.8%
FCF โ
FY24
Gross 7.5%
Operating 2.1%
Net โ21.8%
FCF โ
FY25
Gross 3.2%
Operating โ9.3%
Net โ10.0%
FCF 2.2%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income โ$3.2M
FY21
Net income $5.3M
FY22
Net income $12.2M
FY23
Net income โ$9.3M
FY24
Net income โ$23.6M
FY25
Net income โ$21.5M
FY20
Diluted EPS โ$0.06
FY21
Diluted EPS $0.11
FY22
Diluted EPS $0.24
FY23
Diluted EPS โ$4.45
FY24
Diluted EPS โ$10.02
FY25
Diluted EPS โ$4.18
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital โ
Return on equity โ
Return on assets โ
FY21
Return on capital โ
Return on equity โ
Return on assets 19.5%
FY22
Return on capital โ
Return on equity 478.0%
Return on assets 39.0%
FY23
Return on capital โ
Return on equity โ
Return on assets โ42.4%
FY24
Return on capital โ
Return on equity โ
Return on assets โ125.4%
FY25
Return on capital โ
Return on equity โ324.2%
Return on assets โ69.7%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $4.6M in fiscal 2025, 2.2% of revenue. Cash from operations minus capital spending.
FY20
Free cash flow $1.1M
FY21
Free cash flow โ
FY22
Free cash flow โ
FY23
Free cash flow โ
FY24
Free cash flow โ
FY25
Free cash flow $4.6M
FY20
Cash from operations $1.1M
Capital spending $0.0M
FY21
Cash from operations $0.6M
Capital spending โ
FY22
Cash from operations $33.1M
Capital spending โ
FY23
Cash from operations โ$17.8M
Capital spending โ
FY24
Cash from operations โ$3.3M
Capital spending โ
FY25
Cash from operations $4.6M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
High-Trend International Group returned โ to shareholders in fiscal 2025. The diluted share count rose 132.4%.
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends $17.0M
Buybacks โ
FY23
Dividends $0.9M
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY20
Diluted shares 0.05B
FY21
Diluted shares 0.05B
FY22
Diluted shares 0.05B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.01B
Balance sheet
Cash, debt and the ratios that show how comfortably High-Trend International Group can carry it.
FY20
Cash $8.1M
Debt โ
FY21
Cash $10.4M
Debt $4.3M
FY22
Cash $21.6M
Debt $3.2M
FY23
Cash $2.2M
Debt $2.4M
FY24
Cash $6.9M
Debt $1.5M
FY25
Cash $10.1M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $10.4M | $21.6M | $2.2M | $6.9M | $10.1M |
| Debt incl. finance leases | $4.3M | $3.2M | $2.4M | $1.5M | โ |
| Net debt / EBITDA | โ0.6x | โ0.8x | โ | โ2.3x | โ |
| Debt / equity | 7.3x | 0.7x | โ | 0.3x | โ |
| Interest coverage | 85.6x | 231.4x | โ139.5x | 25.5x | โ433.8x |
| Current ratio | 1.3x | 1.4x | 0.5x | 1.3x | 1.5x |
| Quick ratio | 1.3x | 1.4x | 0.5x | 1.3x | 1.5x |
| Total assets | $27.2M | $35.6M | $8.4M | $29.2M | $32.4M |
| Total liabilities | $23.8M | $25.5M | $15.7M | $20.5M | $19.8M |
| Shareholders' equity | $0.6M | $4.5M | โ$5.4M | $5.4M | $7.9M |
| Net debt (โ = net cash) | โ$6.1M | โ$18.3M | $0.2M | โ$5.4M | 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 5 | 9 / 9 | 2 / 9 | 5 / 9 | 5 / 8 |
| Accruals ratio | โ | 17.2% | โ66.6% | 38.4% | โ107.7% | โ84.8% |
| Altman Z'' | โ | 4.04 | 6.93 | โ20.44 | โ0.96 | โ6.76 |
6 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $78.4M | $122M | $185M | $95.3M | $108M | $214M |
| Gross profit | โ$3.9M | $13.0M | $26.8M | โ$11.9M | $8.1M | $6.8M |
| Operating income | โ$5.7M | $10.5M | $23.6M | โ$15.6M | $2.3M | โ$19.9M |
| Interest expense | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $0.0M |
| Pretax income | โ$5.8M | $10.3M | $23.6M | โ$15.8M | โ$21.2M | โ$20.1M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | โ$3.2M | $5.3M | $12.2M | โ$9.3M | โ$23.6M | โ$21.5M |
| Diluted EPS | โ$0.06 | $0.11 | $0.24 | โ$4.45 | โ$10.02 | โ$4.18 |
| Diluted shares | 0.05B | 0.05B | 0.05B | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||
| Cash from operations | $1.1M | $0.6M | $33.1M | โ$17.8M | โ$3.3M | $4.6M |
| Capital expenditure | $0.0M | โ | โ | โ | โ | $0.0M |
| Free cash flow | $1.1M | โ | โ | โ | โ | $4.6M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Stock-based compensation | โ | โ | โ | โ | $1.2M | $21.9M |
| Dividends paid | โ | โ | $17.0M | $0.9M | โ | โ |
| Dividends and buybacks | โ | โ | $17.0M | $0.9M | โ | โ |
| Balance sheet | ||||||
| Cash and short-term investments | $8.1M | $10.4M | $21.6M | $2.2M | $6.9M | $10.1M |
| Total debt | โ | $4.3M | $3.2M | $2.4M | $1.5M | โ |
| Current assets | โ | $26.1M | $33.4M | $6.8M | $25.9M | $30.3M |
| Current liabilities | โ | $20.4M | $23.2M | $14.1M | $19.6M | $19.7M |
| Property and equipment, net | โ | $0.1M | $0.6M | $0.6M | $0.0M | $0.0M |
| Total assets | โ | $27.2M | $35.6M | $8.4M | $29.2M | $32.4M |
| Total liabilities | โ | $23.8M | $25.5M | $15.7M | $20.5M | $19.8M |
| Shareholders' equity | โ$6.7M | $0.6M | $4.5M | โ$5.4M | $5.4M | $7.9M |
| Margins | ||||||
| Gross margin | โ5.0% | 10.6% | 14.5% | โ12.5% | 7.5% | 3.2% |
| Operating margin | โ7.3% | 8.6% | 12.7% | โ16.4% | 2.1% | โ9.3% |
| EBITDA margin | โ7.3% | 8.6% | 12.7% | โ16.4% | 2.2% | โ9.3% |
| Net margin | โ4.0% | 4.4% | 6.6% | โ9.8% | โ21.8% | โ10.0% |
| FCF margin | 1.4% | โ | โ | โ | โ | 2.2% |
| Returns | ||||||
| Return on capital employed | โ | 155.4% | 190.3% | 275.2% | 23.9% | โ157.7% |
| Return on equity | โ | โ | 478.0% | โ | โ | โ324.2% |
| Return on assets | โ | 19.5% | 39.0% | โ42.4% | โ125.4% | โ69.7% |
| Return on tangible equity | โ | 909.5% | 269.8% | โ | โ440.0% | โ272.5% |
| Growth | ||||||
| Revenue growth | โ | 55.7% | 52.0% | โ48.6% | 13.6% | 98.2% |
| Net income growth | โ | โ | 130.4% | โ176.3% | โ | โ |
| EPS growth | โ | โ | 118.2% | โ1,954.2% | โ | โ |
| Share count change | โ | 0.0% | 0.0% | โ95.8% | 12.3% | 132.4% |
| Financial health | ||||||
| Net debt / EBITDA | โ | โ0.6x | โ0.8x | โ | โ2.3x | โ |
| Debt / equity | โ | 7.3x | 0.7x | โ | 0.3x | โ |
| Interest coverage | โ95.0x | 85.6x | 231.4x | โ139.5x | 25.5x | โ433.8x |
| Current ratio | โ | 1.3x | 1.4x | 0.5x | 1.3x | 1.5x |
| Quick ratio | โ | 1.3x | 1.4x | 0.5x | 1.3x | 1.5x |
| Capital allocation | ||||||
| Capex / revenue | 0.0% | โ | โ | โ | โ | 0.0% |
| Stock comp / revenue | โ | โ | โ | โ | 1.1% | 10.2% |
| Quality scores | ||||||
| Piotroski F-score | โ | โ | 9.0 | 2.0 | 5.0 | 5.0 |
| Altman Z'' | โ | 4.0 | 6.9 | โ20.4 | โ1.0 | โ6.8 |
| Accruals ratio | โ | 17.2% | โ66.6% | 38.4% | โ107.7% | โ84.8% |
Source: SEC EDGAR XBRL filings (CIK 0001928948). 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.