RAYANasdaqMotors & Generators
Erayak Power Solution Group Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026
$1.31−0.08 (-5.76%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
21.3%−5.6 pts over 5 years
Operating margin
-7.2%−23.5 pts over 5 years
Net margin
-6.1%−21.8 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 | -24.6% | -5.3% | +10.1% | – | |
| Gross profit | +22.0% | -9.7% | +5.1% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 101.9% | -4.5% | |
| Return on assets | – | – | -2.6% | |
| Current ratio | – | – | 2.09 | |
| Debt to equity | – | – | 0.35 | |
| Net debt to EBITDA | – | – | -11.28× | |
| Interest coverage | – | 9.4× | 34.2× | |
| Inventory turnover | – | – | 1.9× | |
| Capex to revenue | – | 1.3% | 22.9% | |
| Diluted shares | – | 0M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Erayak Power Solution generated $34.57M from operations and spent $7.38M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$34.57M
Used
$7.38M
Capital expenditure$7.38M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-6.1%
×Asset turnover0.43×
×Equity multiplier1.71×
=Return on equity, FY2025-4.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -6.1% | 0.43× | 1.71× | -4.5% |
| FY2024 | -3.7% | 0.75× | 1.74× | -4.8% |
| FY2023 | 6.0% | 0.56× | 1.84× | 6.2% |
| FY2022 | 12.9% | 0.88× | 2.33× | 26.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$1.39M
- Cash generatingOperating cash flow above zero-$3.17M
- Return on assets improvedROA up on the prior year-3.2% → -3.0%
- Earnings backed by cashOperating cash flow above net income-$3.17M vs -$1.39M
- Less leverageLong-term debt to assets fell8.5% → 5.7%
- Better liquidityCurrent ratio rose2.13 → 2.09
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year13.18% → 21.32%
- More efficientAsset turnover rose0.86 → 0.50