HUDINasdaqSteel Pipe & TubesFiscal year ends September 30
Huadi International Group Co., Ltd.
Financials through fiscal 2025, year ended Sep 30, 2025Last filing: 20-F on Jan 30, 2026
$0.58−0.07 (-10.32%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
10.8%−767.5 pts over 5 years
Operating margin
-4.6%−340.7 pts over 5 years
Net margin
-2.2%−247.2 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 | -15.3% | -6.3% | +115.0% | – | |
| Gross profit | -7.1% | -15.2% | -8.6% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 14.4% | -1.8% | |
| Return on assets | – | 4.9% | -1.3% | |
| Current ratio | – | – | 2.89 | |
| Debt to equity | – | – | 0.16 | |
| Interest coverage | – | – | -14.8× | |
| Inventory turnover | – | -0.5× | 2.4× | |
| Capex to revenue | – | 48.5% | 2.3% | |
| Diluted shares | – | 10M | 14M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Huadi International Group generated $37.60M from operations and spent $3.05M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$37.60M
Used
$3.05M
Capital expenditure$3.05M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.2%
×Asset turnover0.59×
×Equity multiplier1.39×
=Return on equity, FY2025-1.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.2% | 0.59× | 1.39× | -1.8% |
| FY2024 | 0.2% | 0.72× | 1.36× | 0.2% |
| FY2023 | 3.9% | 0.90× | 1.52× | 5.3% |
| FY2022 | 2.5% | 0.83× | 1.84× | 3.8% |
| FY2021 | 78.1% | 0.04× | 2.21× | 6.6% |
| FY2020 | 245.0% | 0.02× | 2.96× | 14.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$1.40M
- Cash generatingOperating cash flow above zero-$8.48M
- Return on assets improvedROA up on the prior year0.1% → -1.3%
- Earnings backed by cashOperating cash flow above net income-$8.48M vs -$1.40M
- Less leverageLong-term debt to assets fell– → 7.3%
- Better liquidityCurrent ratio rose3.25 → 2.89
- No dilutionShare count did not rise14M → 14M
- Gross margin improvedGross margin up on the prior year9.85% → 10.80%
- More efficientAsset turnover rose0.72 → 0.61