Luda Technology Group Ltd
LUD NYSE Steel Pipe & Tubes Financials FY2022–FY2025
What Luda Technology Group Ltd does
No business description yet.
- Legal name
- Luda Technology Group Ltd
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · May 15, 2026
- Accession · CIK
- 0001213900-26-057512
0001984124
Revenue and margins
Luda Technology Group Ltd had $33.5M of revenue in fiscal 2025, down 25.3% on the year before.
Net income and earnings per share
From fiscal 2022 to 2025, diluted EPS grew −41.5% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was −$2.2M in fiscal 2025, −6.5% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Luda Technology Group Ltd returned — to shareholders in fiscal 2025. The diluted share count rose 11.2%.
Balance sheet
Cash, debt and the ratios that show how comfortably Luda Technology Group Ltd can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $4.1M | $8.1M | $8.1M | $4.5M |
| Debt incl. finance leases | — | $11.2M | $12.3M | $12.7M |
| Net debt / EBITDA | — | 0.8x | 7.0x | — |
| Debt / equity | — | 0.7x | 1.0x | 0.6x |
| Interest coverage | 11.3x | 9.5x | 0.8x | −2.0x |
| Current ratio | — | 1.4x | 1.2x | 1.6x |
| Quick ratio | — | 1.2x | 1.0x | 1.4x |
| Total assets | — | $46.7M | $39.3M | $49.1M |
| Total liabilities | — | $30.0M | $26.6M | $26.9M |
| Shareholders' equity | $14.5M | $16.7M | $12.7M | $22.2M |
| Net debt (− = net cash) | — | $3.1M | $4.2M | $8.2M |
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 / 9 | 4 / 9 |
| Accruals ratio | — | −0.6% | −13.5% | 5.1% |
| Altman Z'' | — | 3.72 | 2.52 | 3.57 |
4 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $49.9M | $51.4M | $44.9M | $33.5M |
| Gross profit | $10.3M | $10.9M | $11.4M | $5.9M |
| Research and development | $1.5M | $1.4M | $1.4M | $1.5M |
| Operating income | $3.8M | $3.9M | $0.5M | −$1.1M |
| Interest expense | $0.3M | $0.4M | $0.6M | $0.5M |
| Pretax income | $3.6M | $3.5M | −$0.1M | $1.0M |
| Income tax | $0.5M | $0.4M | $0.3M | $0.4M |
| Net income | $3.1M | $3.0M | −$0.4M | $0.6M |
| Diluted EPS | $0.15 | $0.15 | −$0.02 | $0.03 |
| Diluted shares | 0.02B | 0.02B | 0.02B | 0.02B |
| Cash flow | ||||
| Cash from operations | −$1.0M | $3.3M | $5.5M | −$1.7M |
| Capital expenditure | $0.5M | $1.8M | $1.1M | $0.5M |
| Free cash flow | −$1.5M | $1.6M | $4.4M | −$2.2M |
| Depreciation and amortization | $0.1M | $0.1M | $0.1M | $0.6M |
| Dividends paid | — | $0.6M | $3.4M | — |
| Dividends and buybacks | — | $0.6M | $3.4M | — |
| Balance sheet | ||||
| Cash and short-term investments | $4.1M | $8.1M | $8.1M | $4.5M |
| Total debt | — | $11.2M | $12.3M | $12.7M |
| Current assets | — | $39.5M | $31.9M | $40.0M |
| Current liabilities | — | $28.7M | $25.9M | $24.5M |
| Inventory | — | $5.6M | $4.9M | $4.7M |
| Property and equipment, net | — | $4.7M | $5.1M | $5.0M |
| Intangible assets | — | $0.7M | $0.7M | $0.7M |
| Total assets | — | $46.7M | $39.3M | $49.1M |
| Total liabilities | — | $30.0M | $26.6M | $26.9M |
| Shareholders' equity | $14.5M | $16.7M | $12.7M | $22.2M |
| Margins | ||||
| Gross margin | 20.6% | 21.2% | 25.4% | 17.7% |
| Operating margin | 7.7% | 7.5% | 1.0% | −3.2% |
| EBITDA margin | 7.8% | 7.7% | 1.3% | −1.4% |
| Net margin | 6.2% | 5.9% | −0.8% | 1.7% |
| FCF margin | −2.9% | 3.1% | 9.8% | −6.5% |
| Returns | ||||
| Return on capital | — | 17.0% | 2.1% | −2.3% |
| Return on capital employed | — | 21.6% | 3.4% | −4.3% |
| Return on equity | 21.1% | 19.4% | −2.5% | 3.2% |
| Return on assets | — | 6.5% | −0.8% | 1.3% |
| Return on tangible equity | 21.1% | 18.9% | −3.0% | 2.6% |
| Growth | ||||
| Revenue growth | — | 3.2% | −12.8% | −25.3% |
| Net income growth | — | −1.1% | −111.9% | — |
| EPS growth | — | 0.0% | −113.3% | — |
| FCF growth | — | — | 178.2% | −149.5% |
| Share count change | — | 0.0% | 0.0% | 11.2% |
| Financial health | ||||
| Net debt / EBITDA | — | 0.8x | 7.0x | — |
| Debt / equity | — | 0.7x | 1.0x | 0.6x |
| Interest coverage | 11.3x | 9.5x | 0.8x | −2.0x |
| Current ratio | — | 1.4x | 1.2x | 1.6x |
| Quick ratio | — | 1.2x | 1.0x | 1.4x |
| Capital allocation | ||||
| Capex / revenue | 0.9% | 3.4% | 2.4% | 1.4% |
| Payouts / FCF | — | 40.1% | 77.1% | — |
| Quality scores | ||||
| Piotroski F-score | — | — | 5.0 | 4.0 |
| Altman Z'' | — | 3.7 | 2.5 | 3.6 |
| Accruals ratio | — | −0.6% | −13.5% | 5.1% |
Source: SEC EDGAR XBRL filings (CIK 0001984124). 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.