Massimo Group
MAMO Nasdaq Miscellaneous Transportation Equipment Financials FY2022–FY2025
Last close · Oct 23, 2026
$0.95
0.7%
Revenue
Total sales reported in the income statement.
$71.8M
3,680.4%
vs prior year
Operating margin
Operating income as a share of revenue.
2.8%
263.0 pts
Net income
Profit after all expenses, interest and tax.
$1.5M
14.3%
Free cash flow
Cash from operations minus capital spending.
−$0.2M
102.6%
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.
$39.5M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
9.5x
On $0.10 EPS (TTM)
What Massimo Group does
No business description yet.
- Legal name
- Massimo Group
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 31, 2026
- Accession · CIK
- 0001493152-26-013862
0001952853
Revenue and margins
Massimo Group had $71.8M of revenue in fiscal 2025, up 3,680.4% on the year before.
FY22
Revenue $86.5M
FY23
Revenue $115M
FY24
Revenue $1.9M
FY25
Revenue $71.8M
Q3 '23
Revenue $29.9M
Q4 '23
Revenue $39.6M
Q1 '24
Revenue $30.2M
Q2 '24
Revenue $35.4M
Q3 '24
Revenue $25.6M
Q4 '24
Revenue −$89.3M
Q1 '25
Revenue $14.9M
Q2 '25
Revenue $18.9M
Q3 '25
Revenue $17.0M
Q4 '25
Revenue $21.0M
Q1 '26
Revenue $12.7M
Q2 '26
Revenue $14.9M
FY22
Gross 25.7%
Operating 5.3%
Net 4.8%
FCF 0.5%
FY23
Gross 31.2%
Operating 11.2%
Net 9.1%
FCF 9.4%
FY24
Gross 1,708.4%
Operating 265.8%
Net 92.7%
FCF 330.8%
FY25
Gross 37.5%
Operating 2.8%
Net 2.1%
FCF −0.2%
Gross
Operating
Net
FCF
Q3 '23
Gross 33.6%
Operating 17.5%
Net 13.2%
FCF 10.0%
Q4 '23
Gross 30.7%
Operating 11.9%
Net 9.7%
FCF 12.8%
Q1 '24
Gross 34.7%
Operating 13.2%
Net 10.6%
FCF −2.5%
Q2 '24
Gross 32.5%
Operating 10.1%
Net 8.0%
FCF −19.0%
Q3 '24
Gross 27.2%
Operating 1.2%
Net −9.8%
FCF 18.1%
Q4 '24
Gross −4.0%
Operating 3.1%
Net 1.9%
FCF −10.2%
Q1 '25
Gross 28.4%
Operating −18.2%
Net −14.0%
FCF —
Q2 '25
Gross 36.3%
Operating 0.8%
Net 0.4%
FCF —
Q3 '25
Gross 42.0%
Operating 10.5%
Net 9.0%
FCF —
Q4 '25
Gross 41.5%
Operating 13.1%
Net 9.5%
FCF 19.0%
Q1 '26
Gross 39.9%
Operating −8.2%
Net −7.9%
FCF −12.9%
Q2 '26
Gross 48.8%
Operating 11.1%
Net 9.7%
FCF 6.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income $4.2M
FY23
Net income $10.4M
FY24
Net income $1.8M
FY25
Net income $1.5M
Q3 '23
Net income $4.0M
Q4 '23
Net income $3.8M
Q1 '24
Net income $3.2M
Q2 '24
Net income $2.8M
Q3 '24
Net income −$2.5M
Q4 '24
Net income −$1.7M
Q1 '25
Net income −$2.1M
Q2 '25
Net income $0.1M
Q3 '25
Net income $1.5M
Q4 '25
Net income $2.0M
Q1 '26
Net income −$1.0M
Q2 '26
Net income $1.5M
FY22
Diluted EPS —
FY23
Diluted EPS $0.26
FY24
Diluted EPS $0.04
FY25
Diluted EPS $0.04
Q3 '23
Diluted EPS $0.10
Q4 '23
Diluted EPS $0.10
Q1 '24
Diluted EPS $0.08
Q2 '24
Diluted EPS $0.07
Q3 '24
Diluted EPS −$0.06
Q4 '24
Diluted EPS −$0.05
Q1 '25
Diluted EPS −$0.05
Q2 '25
Diluted EPS $0.00
Q3 '25
Diluted EPS $0.04
Q4 '25
Diluted EPS $0.05
Q1 '26
Diluted EPS −$0.02
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 37.4%
Return on equity 82.1%
Return on assets 11.3%
FY23
Return on capital 76.5%
Return on equity 106.5%
Return on assets 26.4%
FY24
Return on capital —
Return on equity 9.7%
Return on assets 3.6%
FY25
Return on capital —
Return on equity 6.6%
Return on assets 2.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$0.2M in fiscal 2025, −0.2% of revenue. Cash from operations minus capital spending.
FY22
Free cash flow $0.4M
FY23
Free cash flow $10.8M
FY24
Free cash flow $6.3M
FY25
Free cash flow −$0.2M
Q3 '23
Free cash flow $3.0M
Q4 '23
Free cash flow $5.1M
Q1 '24
Free cash flow −$0.7M
Q2 '24
Free cash flow −$6.7M
Q3 '24
Free cash flow $4.6M
Q4 '24
Free cash flow $9.1M
Q1 '25
Free cash flow —
Q2 '25
Free cash flow —
Q3 '25
Free cash flow —
Q4 '25
Free cash flow $4.0M
Q1 '26
Free cash flow −$1.6M
Q2 '26
Free cash flow $0.9M
FY22
Cash from operations $0.6M
Capital spending $0.2M
FY23
Cash from operations $10.9M
Capital spending $0.1M
FY24
Cash from operations $6.7M
Capital spending $0.4M
FY25
Cash from operations −$0.1M
Capital spending $0.1M
Cash from operations
Capital spending
Q3 '23
Cash from operations $3.0M
Capital spending $0.0M
Q4 '23
Cash from operations $5.1M
Capital spending $0.1M
Q1 '24
Cash from operations −$0.6M
Capital spending $0.1M
Q2 '24
Cash from operations −$6.5M
Capital spending $0.2M
Q3 '24
Cash from operations $4.7M
Capital spending $0.1M
Q4 '24
Cash from operations $9.1M
Capital spending −$0.0M
Q1 '25
Cash from operations −$3.3M
Capital spending —
Q2 '25
Cash from operations −$1.4M
Capital spending —
Q3 '25
Cash from operations $0.6M
Capital spending —
Q4 '25
Cash from operations $4.0M
Capital spending $0.0M
Q1 '26
Cash from operations −$1.4M
Capital spending $0.3M
Q2 '26
Cash from operations $1.3M
Capital spending $0.4M
Cash from operations
Capital spending
Dividends, buybacks and share count
Massimo Group returned — to shareholders in fiscal 2025. The diluted share count rose 1.2%.
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY22
Diluted shares —
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 Massimo Group can carry it.
FY22
Cash $0.9M
Debt $5.7M
FY23
Cash $0.8M
Debt $0.4M
FY24
Cash $10.2M
Debt —
FY25
Cash $5.8M
Debt —
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $0.9M | $0.8M | $10.2M | $5.8M |
| Debt incl. finance leases | $5.7M | $0.4M | — | — |
| Net debt / EBITDA | 1.0x | −0.0x | — | — |
| Debt / equity | 1.1x | 0.0x | — | — |
| Interest coverage | 5.6x | 24.9x | 51.2x | 43.6x |
| Current ratio | 1.1x | 2.0x | 1.7x | 1.8x |
| Quick ratio | 0.3x | 0.7x | 0.6x | 0.6x |
| Total assets | $36.9M | $41.9M | $54.9M | $51.4M |
| Total liabilities | $31.8M | $27.5M | $33.2M | $27.7M |
| Shareholders' equity | $5.1M | $14.5M | $21.7M | $23.7M |
| Net debt (− = net cash) | $4.7M | −$0.3M | — | — |
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 | 8 / 8 | 4 / 8 | 3 / 8 |
| Accruals ratio | 9.6% | −1.2% | −10.1% | 3.0% |
| Altman Z'' | 2.07 | 6.71 | 4.34 | 4.45 |
4 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $86.5M | $115M | $1.9M | $71.8M |
| Gross profit | $22.2M | $35.9M | $32.5M | $26.9M |
| Research and development | — | — | $0.3M | $2.1M |
| Operating income | $4.6M | $12.9M | $5.0M | $2.0M |
| Interest expense | $0.8M | $0.5M | $0.1M | $0.0M |
| Pretax income | $4.2M | $12.5M | $2.4M | $2.0M |
| Income tax | — | $2.1M | $0.7M | $0.5M |
| Net income | $4.2M | $10.4M | $1.8M | $1.5M |
| Diluted EPS | — | $0.26 | $0.04 | $0.04 |
| Diluted shares | — | 0.04B | 0.04B | 0.04B |
| Cash flow | ||||
| Cash from operations | $0.6M | $10.9M | $6.7M | −$0.1M |
| Capital expenditure | $0.2M | $0.1M | $0.4M | $0.1M |
| Free cash flow | $0.4M | $10.8M | $6.3M | −$0.2M |
| Depreciation and amortization | $0.1M | $0.2M | $0.2M | $0.1M |
| Stock-based compensation | — | — | $0.2M | $0.2M |
| Balance sheet | ||||
| Cash and short-term investments | $0.9M | $0.8M | $10.2M | $5.8M |
| Total debt | $5.6M | $0.3M | — | — |
| Finance lease liabilities | $0.1M | $0.1M | $0.1M | $0.0M |
| Current assets | $34.6M | $38.4M | $43.6M | $39.8M |
| Current liabilities | $31.1M | $18.8M | $25.7M | $22.3M |
| Inventory | $23.8M | $25.8M | $27.3M | $26.0M |
| Property and equipment, net | $0.4M | $0.4M | $0.5M | $0.5M |
| Total assets | $36.9M | $41.9M | $54.9M | $51.4M |
| Total liabilities | $31.8M | $27.5M | $33.2M | $27.7M |
| Shareholders' equity | $5.1M | $14.5M | $21.7M | $23.7M |
| Margins | ||||
| Gross margin | 25.7% | 31.2% | 1,708.4% | 37.5% |
| Operating margin | 5.3% | 11.2% | 265.8% | 2.8% |
| EBITDA margin | 5.5% | 11.4% | 274.8% | 3.0% |
| Net margin | 4.8% | 9.1% | 92.7% | 2.1% |
| FCF margin | 0.5% | 9.4% | 330.8% | −0.2% |
| Returns | ||||
| Return on capital | 37.4% | 76.5% | — | — |
| Return on capital employed | 80.4% | 55.9% | 17.3% | 6.8% |
| Return on equity | 82.1% | 106.5% | 9.7% | 6.6% |
| Return on assets | 11.3% | 26.4% | 3.6% | 2.8% |
| Return on tangible equity | 82.1% | 71.9% | 8.1% | 6.4% |
| Growth | ||||
| Revenue growth | — | 32.9% | −98.3% | 3,680.4% |
| Net income growth | — | 150.3% | −83.1% | −14.3% |
| EPS growth | — | — | −84.6% | 0.0% |
| FCF growth | — | 2,443.3% | −41.7% | −102.6% |
| Share count change | — | — | 2.9% | 1.2% |
| Financial health | ||||
| Net debt / EBITDA | 1.0x | −0.0x | — | — |
| Debt / equity | 1.1x | 0.0x | — | — |
| Interest coverage | 5.6x | 24.9x | 51.2x | 43.6x |
| Current ratio | 1.1x | 2.0x | 1.7x | 1.8x |
| Quick ratio | 0.3x | 0.7x | 0.6x | 0.6x |
| Capital allocation | ||||
| Capex / revenue | 0.2% | 0.1% | 20.4% | 0.1% |
| Stock comp / revenue | — | — | 11.8% | 0.3% |
| Quality scores | ||||
| Piotroski F-score | — | 8.0 | 4.0 | 3.0 |
| Altman Z'' | 2.1 | 6.7 | 4.3 | 4.5 |
| Accruals ratio | 9.6% | −1.2% | −10.1% | 3.0% |
Source: SEC EDGAR XBRL filings (CIK 0001952853). 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.