JF Nasdaq Services-Computer Programming, Data Processing, Etc. Financials FY2018βFY2025
J & Friends Holdings Ltd had $1.6M of revenue in fiscal 2025, down 66.8% on the year before. Over five years, revenue changed β51.2% a year on average.
Hi! I read J & Friends Holdings Ltdβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β66.8%
No. Sales fell 66.8% last year.
Does it make a profit?
β82.9%
No. It lost money last year.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 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 J & Friends Holdings Ltd did it, and the next one. Share prices often move a lot on those days.
Next results
April 23, 2027
Friday Β· in 179 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 | Before the market opens | 20-F β |
| Apr 17, 2025 | Period ended Dec 31, 2024 | Before the market opens | 20-F β |
| Apr 30, 2024 | Period ended Dec 31, 2023 | After the market closes | 20-F β |
| May 15, 2023 | Period ended Dec 31, 2022 | Time not announced | 20-F β |
| Apr 28, 2022 | Period ended Dec 31, 2021 | Before the market opens | 20-F β |
| Apr 30, 2021 | Period ended Dec 31, 2020 | After the market closes | 20-F β |
| Jun 29, 2020 | Period ended Dec 31, 2019 | After the market closes | 20-F β |
| Jul 30, 2019 | Period ended Dec 31, 2018 | 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· J & Friends Holdings Ltd had $1.6M of revenue in fiscal 2025, down 66.8% on the year before. Over five years, revenue changed β51.2% a year on average. Its operating margin was β83.9%, down 77.7Β pts: of every 100 in sales, about β84 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· J & Friends Holdings Ltd lost $1.3M 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?
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?
KIRA Β· J & Friends Holdings Ltd owes $0.9M more than it holds in cash.
Cash, debt and the ratios that show how comfortably J & Friends Holdings Ltd 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 | $31.6M | $36.4M | $5.7M | $3.7M | $0.9M |
| Debt incl. finance leases | β | β | β | $0.3M | $1.8M |
| Debt / equity | β | β | β | β | 1.2x |
| Current ratio | 1.3x | 0.7x | 0.2x | 0.2x | 1.3x |
| Quick ratio | 1.3x | 0.7x | 0.2x | 0.2x | 1.2x |
| Total assets | $119M | $76.7M | $16.0M | $14.2M | $9.3M |
| Total liabilities | $130M | $113M | $69.6M | $68.3M | $3.3M |
| Shareholders' equity | β$35.3M | β$58.3M | β$55.5M | β$56.0M | $1.5M |
| Net debt (β = net cash) | β | β | β | β$3.4M | $0.9M |
KIRA Β· Its return on capital was β45.1%: every 100 invested in the business earned about β45 in a year.
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· J & Friends Holdings Ltd passes 5 of 9 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 | 3 / 9 | 5 / 9 | 3 / 8 | 1 / 8 | 3 / 8 | 3 / 8 | 5 / 9 |
| Accruals ratio | β4.5% | β54.6% | β28.7% | β8.1% | β26.6% | β26.5% | β0.5% | β12.5% |
| Altman Z'' | 2.21 | β6.53 | β7.40 | β9.53 | β18.37 | β95.08 | β111.48 | β129.34 |
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 | $153M | $185M | $58.0M | $27.2M | $10.8M | $7.4M | $4.8M | $1.6M |
| Provision for credit losses | $10.2M | $4.9M | $6.9M | β$0.3M | $3.2M | β | β | β |
| Gross profit | $72.4M | $74.1M | $14.2M | $13.1M | $1.7M | $0.0M | $3.1M | $1.1M |
| Research and development | $13.8M | $11.4M | $5.8M | $3.6M | $2.3M | $0.0M | $0.3M | β |
| Operating income | β$1.5M | β$105M | β$31.7M | β$11.2M | β$11.8M | $0.3M | β$0.3M | β$1.3M |
| Pretax income | $1.1M | β$130M | β$37.8M | β$16.0M | β$28.1M | β$5.7M | β$0.3M | β$0.8M |
| Income tax | $0.8M | $0.3M | $7.5M | $1.1M | $0.4M | β$2.0M | $0.1M | β$0.1M |
| Net income | $0.3M | β$130M | β$45.0M | β$16.0M | β$27.6M | β$11.1M | β$2.1M | β$1.3M |
| Net income to common | β$10.9M | β$130M | β$45.0M | β$16.0M | β$27.6M | β$11.1M | β$2.1M | β |
| Diluted EPS | β | β$0.46 | β$0.15 | β$0.05 | β$0.09 | β$0.02 | β$0.00 | β$0.00 |
| Diluted shares | 0.10B | 0.28B | 0.30B | 0.30B | 0.30B | 0.49B | 0.55B | 0.58B |
| Cash flow | ||||||||
| Cash from operations | $15.8M | $25.1M | $8.7M | β$5.1M | β$1.5M | $1.2M | β$2.1M | $0.1M |
| Depreciation and amortization | $0.7M | $1.8M | $2.3M | $1.9M | $0.8M | $0.3M | β | $0.2M |
| Stock-based compensation | $19.1M | $2.6M | $1.8M | $0.6M | $0.7M | β$1.0M | β | $0.0M |
| Balance sheet | ||||||||
| Cash and short-term investments | $65.7M | $15.7M | $59.2M | $31.6M | $36.4M | $5.7M | $3.7M | $0.9M |
| Total debt | $35.1M | $49.1M | $19.9M | β | β | β | $0.3M | $1.8M |
| Current assets | $322M | $167M | $110M | $82.7M | $56.4M | $15.3M | $12.9M | $1.8M |
| Current liabilities | $186M | $155M | $79.9M | $63.5M | $76.3M | $68.9M | $67.6M | $1.4M |
| Inventory | β | β | β | β | β | β | β | $0.1M |
| Property and equipment, net | $1.1M | $2.1M | $16.4M | $15.0M | $13.0M | β | β | $0.0M |
| Goodwill | $3.7M | $5.1M | β | β | β | β | β | $3.8M |
| Intangible assets | $0.8M | $7.2M | $2.6M | $1.6M | $1.4M | β | β | $3.7M |
| Total assets | $344M | $224M | $150M | $119M | $76.7M | $16.0M | $14.2M | $9.3M |
| Total liabilities | $191M | $173M | $143M | $130M | $113M | $69.6M | $68.3M | $3.3M |
| Shareholders' equity | $154M | $27.2M | β$18.2M | β$35.3M | β$58.3M | β$55.5M | β$56.0M | $1.5M |
| Margins | ||||||||
| Gross margin | 47.3% | 40.1% | 24.5% | 48.2% | 15.9% | 0.6% | 63.5% | 71.5% |
| Operating margin | β1.0% | β56.7% | β54.7% | β41.2% | β109.3% | 4.6% | β6.1% | β83.9% |
| EBITDA margin | β0.5% | β55.7% | β50.7% | β34.0% | β101.9% | 8.2% | β | β72.0% |
| Net margin | 0.2% | β70.5% | β77.7% | β58.7% | β255.0% | β148.5% | β44.6% | β82.9% |
| Returns | ||||||||
| Return on capital | β0.8% | β136.6% | β | β | β | β | β | β45.1% |
| Return on capital employed | β0.9% | β152.1% | β45.3% | β20.0% | β2,821.2% | β0.7% | 0.6% | β17.0% |
| Return on equity | 0.2% | β143.8% | β1,001.5% | β | β | β | β | β |
| Return on assets | 0.1% | β45.8% | β24.1% | β11.9% | β28.1% | β23.9% | β14.2% | β11.3% |
| Return on tangible equity | β7.3% | β866.3% | β | β | β | β | β | β |
| Growth | ||||||||
| Revenue growth | β | 20.6% | β68.6% | β53.1% | β60.2% | β31.2% | β35.3% | β66.8% |
| Net income growth | β | β41,409.8% | β | β | β | β | β | β |
| Share count change | β | 179.1% | 5.4% | 0.8% | 0.1% | 64.8% | 12.1% | 4.9% |
| Financial health | ||||||||
| Debt / equity | 0.2x | 1.8x | β | β | β | β | β | 1.2x |
| Current ratio | 1.7x | 1.1x | 1.4x | 1.3x | 0.7x | 0.2x | 0.2x | 1.3x |
| Quick ratio | 1.7x | 1.1x | 1.4x | 1.3x | 0.7x | 0.2x | 0.2x | 1.2x |
| Capital allocation | ||||||||
| Stock comp / revenue | 12.5% | 1.4% | 3.1% | 2.2% | 6.1% | β13.1% | β | 0.9% |
| Quality scores | ||||||||
| Piotroski F-score | β | 3.0 | 5.0 | 3.0 | 1.0 | 3.0 | 3.0 | 5.0 |
| Altman Z'' | 2.2 | β6.5 | β7.4 | β9.5 | β18.4 | β95.1 | β111.5 | β129.3 |
| Accruals ratio | β4.5% | β54.6% | β28.7% | β8.1% | β26.6% | β26.5% | β0.5% | β12.5% |
Source: SEC EDGAR XBRL filings (CIK 0001716338). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. The ADS ratio could not be read from the filing, so market cap and valuation are not shown. For information only β not investment advice. Check the original filings before relying on any figure.
