EBON Nasdaq Security & Commodity Brokers, Dealers, Exchanges & Services Financials FY2018βFY2025
Ebang International Holdings Inc. had $6.5M of revenue in fiscal 2025, up 11.4% on the year before. Over five years, revenue changed β19.2% a year on average.
Hi! I read Ebang International Holdings Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+11.4%
Yes. Sales grew 11.4% last year.
Does it make a profit?
β215.6%
No. It lost money last year.
Does profit turn into cash?
β207.2%
No. It spent more cash than it brought in.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Ebang International Holdings Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
April 23, 2027
Friday Β· in 180 days
Estimated from the same quarter last year. It will be replaced by the announced date once there is one.
See who else reports that week β| Date | Results for | Time | Source |
|---|---|---|---|
| Apr 24, 2026 | Period ended Dec 31, 2025 | After the market closes | 20-F β |
| Apr 28, 2025 | Period ended Dec 31, 2024 | After the market closes | 20-F β |
| Apr 26, 2024 | Period ended Dec 31, 2023 | After the market closes | 20-F β |
| Apr 28, 2023 | Period ended Dec 31, 2022 | After the market closes | 20-F β |
| Apr 29, 2022 | Period ended Dec 31, 2021 | After the market closes | 20-F β |
| Apr 30, 2021 | Period ended Dec 31, 2020 | After the market closes | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Ebang International Holdings Inc. had $6.5M of revenue in fiscal 2025, up 11.4% on the year before. Over five years, revenue changed β19.2% a year on average. Its operating margin was β387.0%, up 130.5Β pts: of every 100 in sales, about β387 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA Β· Ebang International Holdings Inc. lost $14.1M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$13.5M in fiscal 2025, β207.2% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Ebang International Holdings Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $275M | $257M | $242M | $219M | $206M |
| Debt incl. finance leases | $2.0M | $5.8M | β | β | β |
| Net debt / EBITDA | β33.0x | β | β | β | β |
| Debt / equity | 0.0x | 0.0x | β | β | β |
| Interest coverage | 461.5x | β | β | β | β |
| Current ratio | 20.3x | 17.4x | 20.9x | 19.5x | 27.3x |
| Quick ratio | 19.8x | 17.3x | 20.8x | 19.4x | 26.9x |
| Total assets | $386M | $344M | $298M | $276M | $257M |
| Total liabilities | $16.9M | $22.4M | $16.9M | $15.4M | $11.7M |
| Shareholders' equity | $369M | $319M | $280M | $260M | $244M |
| Net debt (β = net cash) | β$273M | β$251M | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Ebang International Holdings Inc. passes 5 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 5 / 8 | 6 / 9 | 2 / 9 | 3 / 8 | 4 / 8 | 5 / 8 |
| Accruals ratio | β | β35.3% | β14.6% | 7.7% | β13.4% | β7.9% | β0.9% | β1.9% |
| Altman Z'' | β | β4.77 | 2.80 | 27.52 | 18.12 | 20.13 | 20.52 | 24.63 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $319M | $109M | $19.0M | $51.5M | $32.3M | $4.9M | $5.9M | $6.5M |
| Gross profit | $24.4M | β$30.6M | β$2.9M | $29.2M | $15.4M | β$16.7M | $1.2M | $0.4M |
| Research and development | $43.5M | $13.4M | $8.5M | $6.6M | $5.1M | $7.4M | $5.4M | $4.1M |
| Operating income | β$31.1M | β$50.6M | β$26.6M | $2.0M | β$48.0M | β$53.6M | β$30.4M | β$25.3M |
| Interest expense | $0.9M | $2.0M | $0.7M | $0.0M | β | β | β | β |
| Pretax income | β$10.9M | β$40.7M | β$22.9M | $2.4M | β$45.8M | β$39.1M | β$20.9M | β$14.5M |
| Income tax | $0.9M | $0.4M | $9.3M | β$0.4M | β$0.1M | β$1.0M | β$0.0M | β$0.3M |
| Net income | β$12.3M | β$42.4M | β$32.1M | $4.4M | β$43.9M | β$36.8M | β$20.3M | β$14.1M |
| Net income to common | β | β$41.1M | β$32.1M | $4.4M | β$43.9M | β$36.8M | β$20.3M | β$14.1M |
| Diluted EPS | β$0.36 | β$0.38 | β$7.55 | $0.75 | β$7.03 | β$5.86 | β$3.22 | β$2.24 |
| Diluted shares | 0.03B | 0.11B | 0.00B | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B |
| Cash flow | ||||||||
| Cash from operations | β$108M | β$13.3M | β$15.5M | β$15.8M | $5.2M | β$11.5M | β$17.6M | β$9.0M |
| Capital expenditure | $5.9M | $5.8M | $10.8M | $6.2M | $3.8M | $1.0M | $0.2M | $4.5M |
| Free cash flow | β$114M | β$19.1M | β$26.4M | β$22.0M | $1.3M | β$12.5M | β$17.8M | β$13.5M |
| Depreciation and amortization | $4.8M | $8.9M | $7.2M | $6.3M | $10.7M | $3.5M | $2.6M | $2.6M |
| Stock-based compensation | β | β | β | $0.7M | $3.9M | β$0.2M | β$1.0M | $0.4M |
| Acquisitions | β | β | β | β | $5.9M | β | $0.3M | β |
| Balance sheet | ||||||||
| Cash and short-term investments | $19.5M | $3.5M | $54.5M | $275M | $257M | $242M | $219M | $206M |
| Total debt | β | β | $0.8M | $2.0M | $5.8M | β | β | β |
| Current assets | β | $28.8M | $68.6M | $299M | $269M | $250M | $231M | $216M |
| Current liabilities | β | $39.0M | $34.3M | $14.7M | $15.5M | $12.0M | $11.9M | $7.9M |
| Inventory | β | $13.1M | $3.8M | $7.1M | $0.4M | $0.2M | $0.6M | $3.6M |
| Property and equipment, net | β | $13.2M | $29.1M | $33.3M | $36.5M | $33.2M | $29.9M | $29.8M |
| Goodwill | β | β | β | β | $2.3M | β | $1.3M | β |
| Intangible assets | β | $3.8M | $23.1M | $22.5M | $6.9M | $2.3M | $3.3M | $2.2M |
| Total assets | β | $82.6M | $144M | $386M | $344M | $298M | $276M | $257M |
| Total liabilities | β | $57.0M | $34.4M | $16.9M | $22.4M | $16.9M | $15.4M | $11.7M |
| Shareholders' equity | $67.8M | $25.6M | $110M | $369M | $319M | $280M | $260M | $244M |
| Margins | ||||||||
| Gross margin | 7.7% | β28.0% | β15.3% | 56.8% | 47.7% | β344.0% | 20.3% | 6.0% |
| Operating margin | β9.7% | β46.4% | β140.2% | 3.9% | β148.4% | β1,104.8% | β517.5% | β387.0% |
| EBITDA margin | β8.2% | β38.3% | β102.6% | 16.1% | β115.3% | β1,032.3% | β473.2% | β347.9% |
| Net margin | β3.9% | β38.9% | β169.0% | 8.6% | β135.8% | β757.4% | β345.1% | β215.6% |
| FCF margin | β35.8% | β17.5% | β138.8% | β42.8% | 4.2% | β257.8% | β303.9% | β207.2% |
| Returns | ||||||||
| Return on capital | β | β | β37.5% | 2.1% | β56.1% | β | β | β |
| Return on capital employed | β | β116.3% | β24.2% | 0.5% | β14.6% | β18.7% | β11.5% | β10.2% |
| Return on equity | β18.1% | β90.8% | β47.4% | 1.9% | β12.8% | β12.3% | β7.5% | β5.6% |
| Return on assets | β | β51.3% | β28.3% | 1.7% | β12.0% | β11.4% | β7.1% | β5.3% |
| Return on tangible equity | β18.1% | β188.5% | β37.0% | 1.3% | β14.2% | β13.3% | β7.9% | β5.8% |
| Growth | ||||||||
| Revenue growth | β | β65.8% | β82.6% | 170.7% | β37.2% | β85.0% | 20.9% | 11.4% |
| Net income growth | β | β | β | β | β1,090.5% | β | β | β |
| EPS growth | β | β | β | β | β1,037.3% | β | β | β |
| FCF growth | β | β | β | β | β | β1,027.5% | β | β |
| Share count change | β | 230.6% | β96.4% | 45.9% | 5.4% | 0.4% | 0.1% | 0.0% |
| Financial health | ||||||||
| Net debt / EBITDA | β | β | β | β33.0x | β | β | β | β |
| Debt / equity | β | β | 0.0x | 0.0x | 0.0x | β | β | β |
| Interest coverage | β33.7x | β24.8x | β36.6x | 461.5x | β | β | β | β |
| Current ratio | β | 0.7x | 2.0x | 20.3x | 17.4x | 20.9x | 19.5x | 27.3x |
| Quick ratio | β | 0.4x | 1.9x | 19.8x | 17.3x | 20.8x | 19.4x | 26.9x |
| Capital allocation | ||||||||
| Capex / revenue | 1.9% | 5.3% | 57.0% | 12.0% | 11.8% | 20.3% | 3.8% | 68.8% |
| Stock comp / revenue | β | β | β | 1.4% | 12.1% | β3.2% | β17.3% | 5.6% |
| Quality scores | ||||||||
| Piotroski F-score | β | β | 5.0 | 6.0 | 2.0 | 3.0 | 4.0 | 5.0 |
| Altman Z'' | β | β4.8 | 2.8 | 27.5 | 18.1 | 20.1 | 20.5 | 24.6 |
| Accruals ratio | β | β35.3% | β14.6% | 7.7% | β13.4% | β7.9% | β0.9% | β1.9% |
Source: SEC EDGAR XBRL filings (CIK 0001799290). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
