Wetouch Technology Inc.
WETH Nasdaq Computer Peripheral Equipment, Nec Financials FY2019–FY2025
Last close · Oct 23, 2026
$0.94
2.0%
Revenue
Total sales reported in the income statement.
$45.1M
6.8%
vs prior year
Operating margin
Operating income as a share of revenue.
22.1%
0.0 pts
Net income
Profit after all expenses, interest and tax.
$7.2M
18.7%
Free cash flow
Cash from operations minus capital spending.
$7.1M
786.7%
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.
$11.5M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
1.3x
On $0.70 EPS (TTM)
What Wetouch Technology Inc. does
No business description yet.
- Legal name
- Wetouch Technology Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Apr 13, 2026
- Accession · CIK
- 0001213900-26-043017
0001826660
Revenue and margins
Wetouch Technology Inc. had $45.1M of revenue in fiscal 2025, up 6.8% on the year before.
FY19
Revenue $40.0M
FY20
Revenue $31.3M
FY21
Revenue $40.8M
FY22
Revenue $37.9M
FY23
Revenue $39.7M
FY24
Revenue $42.3M
FY25
Revenue $45.1M
Q3 '23
Revenue $11.1M
Q4 '23
Revenue $2.4M
Q1 '24
Revenue $14.9M
Q2 '24
Revenue $12.2M
Q3 '24
Revenue $11.5M
Q4 '24
Revenue $3.6M
Q1 '25
Revenue $15.3M
Q2 '25
Revenue $12.4M
Q3 '25
Revenue $12.2M
Q4 '25
Revenue $5.2M
Q1 '26
Revenue $16.3M
Q2 '26
Revenue $14.0M
FY19
Gross 49.3%
Operating 42.5%
Net 34.3%
FCF 25.4%
FY20
Gross 49.8%
Operating 37.9%
Net 28.5%
FCF —
FY21
Gross 45.2%
Operating 31.0%
Net 42.6%
FCF 5.8%
FY22
Gross 37.1%
Operating 30.1%
Net 23.0%
FCF —
FY23
Gross 43.3%
Operating 31.9%
Net 20.8%
FCF 26.3%
FY24
Gross 32.2%
Operating 22.0%
Net 14.3%
FCF 1.9%
FY25
Gross 31.8%
Operating 22.1%
Net 15.9%
FCF 15.7%
Gross
Operating
Net
FCF
Q3 '23
Gross 42.9%
Operating 38.5%
Net 25.7%
FCF —
Q4 '23
Gross 5.1%
Operating −85.5%
Net −86.8%
FCF —
Q1 '24
Gross 22.4%
Operating 15.5%
Net 3.8%
FCF −62.7%
Q2 '24
Gross 39.7%
Operating 30.4%
Net 22.1%
FCF 31.7%
Q3 '24
Gross 38.4%
Operating 30.2%
Net 23.1%
FCF 39.8%
Q4 '24
Gross 26.8%
Operating −5.4%
Net 3.0%
FCF 45.8%
Q1 '25
Gross 36.9%
Operating 26.0%
Net 16.8%
FCF —
Q2 '25
Gross 33.1%
Operating 24.8%
Net 18.1%
FCF —
Q3 '25
Gross 32.7%
Operating 25.7%
Net 20.7%
FCF —
Q4 '25
Gross 12.2%
Operating −4.1%
Net −3.3%
FCF —
Q1 '26
Gross 35.7%
Operating 31.2%
Net 23.7%
FCF —
Q2 '26
Gross 34.9%
Operating 22.6%
Net 15.5%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2019 to 2025, diluted EPS grew 3.4% a year. Loss periods are shown in red.
FY19
Net income $13.7M
FY20
Net income $8.9M
FY21
Net income $17.4M
FY22
Net income $8.7M
FY23
Net income $8.3M
FY24
Net income $6.0M
FY25
Net income $7.2M
Q3 '23
Net income $2.9M
Q4 '23
Net income −$2.1M
Q1 '24
Net income $0.6M
Q2 '24
Net income $2.7M
Q3 '24
Net income $2.7M
Q4 '24
Net income $0.1M
Q1 '25
Net income $2.6M
Q2 '25
Net income $2.2M
Q3 '25
Net income $2.5M
Q4 '25
Net income −$0.2M
Q1 '26
Net income $3.9M
Q2 '26
Net income $2.2M
FY19
Diluted EPS $0.49
FY20
Diluted EPS $0.31
FY21
Diluted EPS $0.55
FY22
Diluted EPS $4.73
FY23
Diluted EPS $0.89
FY24
Diluted EPS $0.52
FY25
Diluted EPS $0.60
Q3 '23
Diluted EPS $0.29
Q4 '23
Diluted EPS −$0.23
Q1 '24
Diluted EPS $0.04
Q2 '24
Diluted EPS $0.23
Q3 '24
Diluted EPS $0.22
Q4 '24
Diluted EPS $0.03
Q1 '25
Diluted EPS $0.21
Q2 '25
Diluted EPS $0.19
Q3 '25
Diluted EPS $0.21
Q4 '25
Diluted EPS −$0.01
Q1 '26
Diluted EPS $0.32
Q2 '26
Diluted EPS $0.18
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 43.3%
Return on assets 32.9%
FY20
Return on capital —
Return on equity 23.5%
Return on assets 20.1%
FY21
Return on capital —
Return on equity 32.0%
Return on assets 30.0%
FY22
Return on capital —
Return on equity 13.1%
Return on assets 12.3%
FY23
Return on capital —
Return on equity 9.1%
Return on assets 8.6%
FY24
Return on capital —
Return on equity 5.1%
Return on assets 4.9%
FY25
Return on capital —
Return on equity 5.5%
Return on assets 5.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $7.1M in fiscal 2025, 15.7% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow $10.2M
FY20
Free cash flow —
FY21
Free cash flow $2.4M
FY22
Free cash flow —
FY23
Free cash flow $10.5M
FY24
Free cash flow $0.8M
FY25
Free cash flow $7.1M
Q3 '23
Free cash flow —
Q4 '23
Free cash flow —
Q1 '24
Free cash flow −$9.3M
Q2 '24
Free cash flow $3.9M
Q3 '24
Free cash flow $4.6M
Q4 '24
Free cash flow $1.7M
Q1 '25
Free cash flow —
Q2 '25
Free cash flow —
Q3 '25
Free cash flow —
Q4 '25
Free cash flow —
Q1 '26
Free cash flow —
Q2 '26
Free cash flow —
FY19
Cash from operations $10.2M
Capital spending $0.0M
FY20
Cash from operations $13.0M
Capital spending —
FY21
Cash from operations $14.1M
Capital spending $11.7M
FY22
Cash from operations $8.6M
Capital spending —
FY23
Cash from operations $12.7M
Capital spending $2.3M
FY24
Cash from operations $1.1M
Capital spending $0.3M
FY25
Cash from operations $7.4M
Capital spending $0.3M
Cash from operations
Capital spending
Q3 '23
Cash from operations $2.2M
Capital spending —
Q4 '23
Cash from operations $3.7M
Capital spending —
Q1 '24
Cash from operations −$9.2M
Capital spending $0.1M
Q2 '24
Cash from operations $3.9M
Capital spending $0.0M
Q3 '24
Cash from operations $4.6M
Capital spending $0.0M
Q4 '24
Cash from operations $1.8M
Capital spending $0.2M
Q1 '25
Cash from operations $2.0M
Capital spending —
Q2 '25
Cash from operations $2.6M
Capital spending —
Q3 '25
Cash from operations $3.8M
Capital spending —
Q4 '25
Cash from operations −$1.1M
Capital spending —
Q1 '26
Cash from operations $0.5M
Capital spending —
Q2 '26
Cash from operations $4.9M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Wetouch Technology Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 2.1%.
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.00B
FY23
Diluted shares 0.01B
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.01B
Balance sheet
Cash, debt and the ratios that show how comfortably Wetouch Technology Inc. can carry it.
FY19
Cash $14.3M
Debt —
FY20
Cash $24.0M
Debt —
FY21
Cash $46.2M
Debt —
FY22
Cash $51.3M
Debt —
FY23
Cash $98.0M
Debt —
FY24
Cash $104M
Debt —
FY25
Cash $118M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $46.2M | $51.3M | $98.0M | $104M | $118M |
| Interest coverage | 459.1x | 50.8x | 50.1x | 8.0x | — |
| Current ratio | 17.5x | 15.5x | 16.8x | 38.7x | 38.9x |
| Quick ratio | 17.5x | 15.4x | 16.8x | 38.6x | 38.9x |
| Total assets | $68.7M | $73.1M | $120M | $128M | $141M |
| Total liabilities | $4.4M | $4.3M | $6.7M | $3.4M | $3.2M |
| Shareholders' equity | $64.3M | $68.8M | $113M | $125M | $137M |
| Net debt (− = net cash) | — | — | — | — | — |
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 | FY19 | FY20 | 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 / 8 | 4 / 8 | 3 / 8 | 5 / 8 | 3 / 8 | 5 / 8 |
| Accruals ratio | 8.5% | −9.1% | 5.8% | 0.2% | −4.6% | 4.0% | −0.2% |
| Altman Z'' | 11.86 | 26.38 | 24.40 | 25.97 | 25.75 | 46.18 | 52.58 |
7 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $40.0M | $31.3M | $40.8M | $37.9M | $39.7M | $42.3M | $45.1M |
| Gross profit | $19.7M | $15.6M | $18.4M | $14.1M | $17.2M | $13.6M | $14.4M |
| Research and development | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | — | — |
| Operating income | $17.0M | $11.9M | $12.6M | $11.4M | $12.7M | $9.3M | $10.0M |
| Interest expense | $0.0M | $1.7M | $0.0M | $0.2M | $0.3M | $1.2M | — |
| Pretax income | $16.4M | $10.5M | $21.8M | $12.1M | $12.3M | $8.7M | $10.2M |
| Income tax | $2.7M | $1.5M | $4.4M | $3.4M | $4.1M | $2.7M | $3.0M |
| Net income | $13.7M | $8.9M | $17.4M | $8.7M | $8.3M | $6.0M | $7.2M |
| Diluted EPS | $0.49 | $0.31 | $0.55 | $4.73 | $0.89 | $0.52 | $0.60 |
| Diluted shares | 0.03B | 0.03B | 0.03B | 0.00B | 0.01B | 0.01B | 0.01B |
| Cash flow | |||||||
| Cash from operations | $10.2M | $13.0M | $14.1M | $8.6M | $12.7M | $1.1M | $7.4M |
| Capital expenditure | $0.0M | — | $11.7M | — | $2.3M | $0.3M | $0.3M |
| Free cash flow | $10.2M | — | $2.4M | — | $10.5M | $0.8M | $7.1M |
| Depreciation and amortization | $1.0M | $1.1M | $0.4M | $0.0M | $0.0M | $0.0M | $0.0M |
| Stock-based compensation | — | $1.1M | $3.1M | — | — | — | — |
| Balance sheet | |||||||
| Cash and short-term investments | $14.3M | $24.0M | $46.2M | $51.3M | $98.0M | $104M | $118M |
| Current assets | $30.9M | $36.6M | $56.8M | $62.2M | $107M | $114M | $126M |
| Current liabilities | $9.4M | $2.3M | $3.2M | $4.0M | $6.3M | $3.0M | $3.2M |
| Inventory | $0.2M | $0.4M | $0.2M | $0.4M | $0.2M | $0.1M | $0.0M |
| Property and equipment, net | $9.9M | $9.5M | $11.8M | $10.9M | $12.9M | $12.8M | $8.9M |
| Intangible assets | $1.0M | $1.0M | — | — | — | — | — |
| Total assets | $41.7M | $47.1M | $68.7M | $73.1M | $120M | $128M | $141M |
| Total liabilities | $10.1M | $2.7M | $4.4M | $4.3M | $6.7M | $3.4M | $3.2M |
| Shareholders' equity | $31.7M | $44.4M | $64.3M | $68.8M | $113M | $125M | $137M |
| Margins | |||||||
| Gross margin | 49.3% | 49.8% | 45.2% | 37.1% | 43.3% | 32.2% | 31.8% |
| Operating margin | 42.5% | 37.9% | 31.0% | 30.1% | 31.9% | 22.0% | 22.1% |
| EBITDA margin | 45.1% | 41.3% | 31.9% | 30.1% | 31.9% | 22.1% | 22.1% |
| Net margin | 34.3% | 28.5% | 42.6% | 23.0% | 20.8% | 14.3% | 15.9% |
| FCF margin | 25.4% | — | 5.8% | — | 26.3% | 1.9% | 15.7% |
| Returns | |||||||
| Return on capital employed | 52.6% | 26.5% | 19.3% | 16.5% | 11.2% | 7.4% | 7.3% |
| Return on equity | 43.3% | 23.5% | 32.0% | 13.1% | 9.1% | 5.1% | 5.5% |
| Return on assets | 32.9% | 20.1% | 30.0% | 12.3% | 8.6% | 4.9% | 5.3% |
| Return on tangible equity | 44.7% | 20.6% | 27.0% | 12.7% | 7.3% | 4.8% | 5.2% |
| Growth | |||||||
| Revenue growth | — | −21.6% | 30.1% | −7.0% | 4.7% | 6.5% | 6.8% |
| Net income growth | — | −34.9% | 94.7% | −49.8% | −5.3% | −27.0% | 18.7% |
| EPS growth | — | −36.7% | 77.4% | 760.0% | −81.2% | −41.6% | 15.4% |
| FCF growth | — | — | — | — | — | −92.4% | 786.7% |
| Share count change | — | 3.5% | 12.7% | −94.4% | 408.5% | 24.6% | 2.1% |
| Financial health | |||||||
| Interest coverage | 1,006.0x | 6.9x | 459.1x | 50.8x | 50.1x | 8.0x | — |
| Current ratio | 3.3x | 16.1x | 17.5x | 15.5x | 16.8x | 38.7x | 38.9x |
| Quick ratio | 3.3x | 15.9x | 17.5x | 15.4x | 16.8x | 38.6x | 38.9x |
| Capital allocation | |||||||
| Capex / revenue | 0.0% | — | 28.7% | — | 5.7% | 0.6% | 0.7% |
| Stock comp / revenue | — | 3.4% | 7.7% | — | — | — | — |
| Quality scores | |||||||
| Piotroski F-score | — | 5.0 | 4.0 | 3.0 | 5.0 | 3.0 | 5.0 |
| Altman Z'' | 11.9 | 26.4 | 24.4 | 26.0 | 25.8 | 46.2 | 52.6 |
| Accruals ratio | 8.5% | −9.1% | 5.8% | 0.2% | −4.6% | 4.0% | −0.2% |
Source: SEC EDGAR XBRL filings (CIK 0001826660). 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.