Ebang International Holdings Inc. key statistics and ratios

In fiscal 2025, Ebang International Holdings Inc. had return on equity of -5.6%, an operating margin of -387.0%, debt equal to 0.0% of equity and a current ratio of 27.31. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ebang International Holdings Inc.: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	7.7%	−28.0%	−15.3%	56.8%	47.7%	—	20.3%	6.0%
Operating margin	−9.7%	−46.4%	−140.2%	3.9%	−148.4%	<−999%	−517.5%	−387.0%
Net margin	−3.9%	−38.9%	−169.0%	8.6%	−135.8%	−757.4%	−345.1%	−215.6%
Free-cash-flow margin	−35.8%	−17.5%	−138.8%	−42.8%	4.2%	−257.8%	−303.9%	−207.2%
Return on equity	−18.1%	−90.8%	−47.4%	1.9%	−12.8%	−12.3%	−7.5%	−5.6%
Return on assets	—	−51.3%	−28.3%	1.7%	−12.0%	−11.4%	−7.1%	−5.3%
Asset turnover	—	1.32	0.17	0.19	0.09	0.02	0.02	0.02
Current ratio	—	0.74	2.00	20.32	17.38	20.87	19.47	27.31
Debt to equity	0.0%	0.0%	0.7%	0.5%	1.8%	—	0.0%	0.0%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	—	—	—	—	—
Effective tax rate	—	—	—	−15.9%	—	—	—	—
R&D as % of revenue	13.6%	12.3%	44.5%	12.7%	15.9%	152.4%	92.5%	62.6%
Capital spending as % of revenue	1.9%	5.3%	57.0%	12.0%	11.8%	20.3%	3.8%	68.8%
Free cash flow ÷ net income	—	—	—	−496.6%	—	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Ebang International Holdings Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Ebang International Holdings Inc.