EBONNasdaqSecurity & Commodity Brokers, Dealers, Exchanges & ServicesFiscal year ends December 31
Ebang International Holdings Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 24, 2026
$1.92+0.01 (+0.26%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
6.0%+21.3 pts over 5 years
Operating margin
-387.0%−246.8 pts over 5 years
Net margin
-215.6%−46.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.4% | -41.3% | -19.2% | – | |
| Gross profit | -66.8% | -70.5% | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -47.4% | -5.6% | |
| Return on assets | – | -28.3% | -5.3% | |
| Current ratio | – | 2.00 | 27.31 | |
| Debt to equity | – | 0.00 | – | |
| Net debt to EBITDA | – | 0.72× | – | |
| Interest coverage | – | -36.6× | – | |
| Inventory turnover | – | 2.6× | 2.9× | |
| Capex to revenue | – | 57.0% | 68.8% | |
| Diluted shares | – | 4M | 6M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ebang International generated $59.19M from operations and spent $15.66M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$59.19M
Used
$15.66M
Capital expenditure$15.66M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-215.6%
×Asset turnover0.02×
×Equity multiplier1.06×
=Return on equity, FY2025-5.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -215.6% | 0.02× | 1.06× | -5.6% |
| FY2024 | -345.1% | 0.02× | 1.06× | -7.5% |
| FY2023 | -757.4% | 0.02× | 1.07× | -12.3% |
| FY2022 | -135.8% | 0.09× | 1.06× | -12.8% |
| FY2021 | 8.6% | 0.19× | 1.11× | 1.9% |
| FY2020 | -169.0% | 0.17× | 1.68× | -47.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$14.09M
- Cash generatingOperating cash flow above zero-$9.05M
- Return on assets improvedROA up on the prior year-6.8% → -5.1%
- Earnings backed by cashOperating cash flow above net income-$9.05M vs -$14.09M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose19.47 → 27.31
- No dilutionShare count did not rise6M → 6M
- Gross margin improvedGross margin up on the prior year20.27% → 6.04%
- More efficientAsset turnover rose0.02 → 0.02