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Hongli Group Inc. (HLP) stock

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NASDAQ: HLP Nasdaq Electronic Components

C Fundamentals grade

Hongli Group Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.2

Valuation models combined (2)

Base case. Range ~$1.2–$1.2. Weighted average of 2 models (residual income, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Hongli Group Inc. valuation: adjust assumptions and compare models →

Value diary

Our note on each quarter Hongli Group files

Where Hongli stands after its latest Filing

Revenue for the twelve months was $20m, up 39.0% on a year earlier, against a decline of 11.8% a quarter earlier. That growth ranks 3 of 26 among the electronic components companies we cover. Free-cash-flow margin rose to 3.4% from 0.6% a year earlier. Operating margin narrowed to 12.4% from 18.1%. The diluted share count is up 320.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our valuation models combined value is $0.98 a share, against a share price of $4.06.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Hongli Group Inc.'s trailing-twelve-month revenue grew 39.0% year on year, with a free-cash-flow margin of 3.4%. Where it stands out: revenue growth of 39.0% ranks 3 of 26 electronic components companies we cover. Where it lags: days sales outstanding of 173 days ranks 24 of 24 electronic components companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 39.0% (+50.8pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 39.0% over the last 12 months, against a median of 16.1% for electronic components companies we cover.
  • Growth speeding up. The growth rate is 50.8 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 23.6 points on a year ago.

Things to watch

  • Share dilution. Diluted shares rose 320.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 114% and a beta of 0.1 against the S&P 500.
  • Weak cash conversion. Free cash flow was 34% of net income over the last 12 months.
  • Below peers: days sales outstanding. Days sales outstanding of 173 days ranks 24 of 24 electronic components companies we cover (median 69 days).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 14.0% ranks 21 of 24 electronic components companies we cover (median 2.1%).

Price chart

  • 1 day+0.2%
  • 1 week+16.3%
  • 1 month+59.6%
  • This year+291.3%
  • 1 year+166.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$19.6M
Operating margin
12.4%
Net margin
9.9%
EPS (TTM, diluted)
$0.03

Growth

Revenue growth
+39.0%
Change in growth rate
+50.8 pts
Share count change
+320.8%

Cash

Free cash flow (TTM)
$660,824
FCF margin
3.4%
Stock pay % of revenue
14.0%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for HLP from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Hongli Group Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Hongli Group Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.87 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$0.6 ~$0.6–$1.0 Left out: out of range vs price (0.15x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.2 ~$0.8–$1.9 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$1.2 ~$1.0–$1.5 Included
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$0.8 ~$0.6–$0.9 Left out: out of range vs price (0.19x)
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: earnings are positive: price-to-earnings is the better measure
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.2 ~$1.2–$1.2 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Hongli Group Inc. with Electronic Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202320242025
Share price$1.68$1.31$1.04
Market value$79m$91m$76m
+ Net debt (− = net cash)$8m$9m−$2m
Enterprise value$87m$100m$75m
Multiples
Price / sales 4.9x6.5x3.9x
Price / earnings 91.3x—39.3x
Price / free cash flow 135.6x—115.6x
EV / EBITDA 46.1x—23.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

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.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Hongli Group Inc.: too few analysts cover it.

Positioning

Short interest
0.6%
of tradable shares
Days to cover
3.28
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
0%
of shares
Held by insiders
37.7%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202420252026 to date
Return
HLP−22%−21%+291%
Industry peers (median)+11%+8%+19%
S&P 500+25%+18%+11%
Months that ended higher
HLP50%50%55%
S&P 50075%75%46%
Largest fall from a high during the year
HLP−69%−63%−64%
S&P 500−8%−19%−9%

Worst fall since March 29, 2023: 92% from November 21, 2023 to June 17, 2026. Getting back needed a 1135% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.43 – $4.19
From 52-week high
−2.9%
vs 50-day average
+74.3%
vs 200-day average
+219.1%
Volatility (1 year)
114%
Beta vs S&P 500
0.07

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Hongli Group Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Hongli Group Inc.
$10M $15M $20M $25M FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY20 Q4: $11.2M Revenue (TTM), FY21 Q4: $21.7M Revenue (TTM), FY22 Q4: $20.3M Revenue (TTM), FY23 Q4: $16M Revenue (TTM), FY24 Q4: $14.1M Revenue (TTM), FY25 Q4: $19.6M $19.6M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY20 Q4 $11.2M
FY21 Q4 $21.7M
FY22 Q4 $20.3M
FY23 Q4 $16M
FY24 Q4 $14.1M
FY25 Q4 $19.6M
Revenue growth, TTM YoY Hongli Group Inc.
-50% 0% 50% 100% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue growth, TTM YoY, FY21 Q4: 94.6% Revenue growth, TTM YoY, FY22 Q4: -6.6% Revenue growth, TTM YoY, FY23 Q4: -21.1% Revenue growth, TTM YoY, FY24 Q4: -11.8% Revenue growth, TTM YoY, FY25 Q4: 39.0% 39.0%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY21 Q4 94.6%
FY22 Q4 -6.6%
FY23 Q4 -21.1%
FY24 Q4 -11.8%
FY25 Q4 39.0%
Operating margin (TTM) Hongli Group Inc.
-20% -10% 0% 10% 20% 30% FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY20 Q4: 22.1% Operating margin (TTM), FY21 Q4: 18.1% Operating margin (TTM), FY22 Q4: 14.4% Operating margin (TTM), FY23 Q4: 6.4% Operating margin (TTM), FY24 Q4: -11.2% Operating margin (TTM), FY25 Q4: 12.4% 12.4%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY20 Q4 22.1%
FY21 Q4 18.1%
FY22 Q4 14.4%
FY23 Q4 6.4%
FY24 Q4 -11.2%
FY25 Q4 12.4%
FCF margin (TTM) Hongli Group Inc.
-20% -10% 0% 10% 20% 30% FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY20 Q4: 21.5% FCF margin (TTM), FY21 Q4: 0.6% FCF margin (TTM), FY22 Q4: -12.9% FCF margin (TTM), FY23 Q4: 3.6% FCF margin (TTM), FY24 Q4: -3.2% FCF margin (TTM), FY25 Q4: 3.4% 3.4%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY20 Q4 21.5%
FY21 Q4 0.6%
FY22 Q4 -12.9%
FY23 Q4 3.6%
FY24 Q4 -3.2%
FY25 Q4 3.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Hongli Group took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $19.6M
  2. Cost of revenue $13.2M · 67.5%
  3. Gross profit $6.4M · 32.5%
  4. Research and development $994,500 · 5.1%
  5. Selling, general and admin $3M · 15.1%
  6. Operating income $2.4M · 12.4%
  7. Income tax $228,684 · 1.2%
  8. Interest and other $261,761 · 1.3%
  9. Net income $1.9M · 9.9%

Shares of revenue. Source: Hongli Group's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 11 22 20 16 14 20
Gross profit 4 8 7 5 5 6
EBITDA 3 5 4 2 −1 3
Operating income 2 4 3 1 −2 2
Net income 2 3 3 1 −2 2
Diluted EPS $0.06 $0.08 $0.07 $0.02 −$0.03 $0.03
Growth (year on year)
Revenue — +94.6% −6.6% −21.1% −11.8% +39.0%
EBITDA — +51.2% −21.1% −46.9% −141.2% —
Operating income — +59.4% −25.8% −65.1% −255.2% —
Net income — +32.1% −8.4% −70.5% −317.6% —
Diluted EPS — +33.3% −9.4% −75.9% −257.1% —
Margins
Gross margin 39.9% 35.3% 34.6% 32.8% 32.0% 32.5%
EBITDA margin 26.8% 20.8% 17.6% 11.8% −5.5% 15.9%
Operating margin 22.1% 18.1% 14.4% 6.4% −11.2% 12.4%
Net margin 21.7% 14.7% 14.5% 5.4% −13.3% 9.9%
Free-cash-flow margin 21.5% 0.6% −12.9% 3.6% −3.2% 3.4%
Cash flow
Cash from operations 3 1 2 1 −0 1
Capital spending 1 1 5 0 0 0
Free cash flow 2 0 −3 1 −0 1
Stock-based pay — — — — 2 —
Free cash flow after stock pay — — — — −2 —
Balance sheet
Cash 1 0 2 1 1 2
Total debt 0 6 16 9 10 —
Net debt (negative = net cash) −1 6 14 8 9 −2
Diluted shares 40m 40m 40m 47m 70m 73m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · December 31, 2025
What it owns · $72m
Short-term assets $16mLonger-term assets $56m
What it owes, and who funded it · $72m
Short-term liabilities $14mLonger-term liabilities $0mShareholders' equity $58m
  • Short-term assets cover short-term liabilities $16m of assets due within a year against $14m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $16m short-term assets against $0 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $2m against $165,003 of interest.

From Hongli Group Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+320.8%
year over year
R&D spending
5.1%
of revenue
Sales & admin spending
43.3%
of revenue
Days sales outstanding
173 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electronic components
Last 12 months unless stated HLP KULR OST ESP MPTI HIHO Median
Revenue, last 12 months $20m $16m $40m $46m $58m $5m $647m
Revenue growth, last 12 months 39.0% 24.6% 22.2% 4.9% 11.8% −35.2% 15.0%
Revenue growth, 3-year average — 27.2% — 9.0% 16.7% −40.6% 5.6%
Revenue growth, latest quarter — −43.0% — 40.4% 13.8% — 18.4%
Gross margin 32.5% −1.7% 6.4% 35.3% — 28.4% 36.5%
Operating margin 12.4% −270.6% −22.9% 25.1% 18.5% −48.0% 8.5%
Operating margin, 3-year average — −223.8% — 20.2% 16.5% −11.1% 8.3%
Net margin 9.9% −648.0% −25.2% 24.2% 16.3% −31.7% 5.8%
Cash from operations / revenue 4.5% −260.6% 0.2% 12.3% 20.7% −29.4% 10.4%
Free-cash-flow margin 3.4% −280.0% −17.9% 5.6% 16.3% −31.5% 3.7%
Free-cash-flow margin, 3-year average — −213.5% — 19.1% 13.2% −7.6% 8.9%
Stock pay / revenue 14.0% 35.9% — 0.5% 3.9% 2.5% 1.9%
Change in share count 320.8% 41.5% >999% 6.5% 23.4% 3.5% 2.9%

Median of all 26 companies we cover in electronic components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

26 electronic components companies
Measure Company Peer median Rank
Revenue growth Growth 39.0% 16.1% 3 of 26
Change in growth rate Growth +50.8pp +3.5pp 3 of 26
Gross margin Profitability 32.5% 36.8% 18 of 24
Operating margin Profitability 12.4% 9.0% 10 of 25
Net margin Profitability 9.9% 6.0% 10 of 26
Free-cash-flow margin Cash generation 3.4% 5.6% 14 of 24
Stock pay as % of revenue Cash generation 14.0% 2.1% 21 of 24
Long-term debt as % of assets Balance sheet 5.5% 12.5% 6 of 19
Change in share count Balance sheet 320.8% 3.5% 21 of 22
Days sales outstanding Balance sheet 173 days 69 days 24 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

13F filings for June 30, 2026
Reported value
$126,109
Institutions reporting
5
Shares held vs prior quarter
▲ 42.0%
Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Jane Street Group, LLC $60,663 132K 48.1% ▲ 567.7%
Xtx Topco Ltd $45,511 99K 36.1% ▲ 280.1%
HRT Financial LP $9,000 20K 7.1% New
Susquehanna International Group, LLP $8,630 19K 6.8% New
UBS Group AG $2,305 5K 1.8% ▲ 500900.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Hongli Group Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Hongli Group Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Hongli Group Inc. in brief

What does Hongli Group Inc. do?
Hongli Group Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.
What is Hongli Group Inc.'s stock ticker?
Hongli Group Inc. trades under the ticker HLP on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Hongli Group Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Hongli Group Inc. reported revenue of $19.6M, 39.0% higher than a year earlier, according to its SEC filings.
What is Hongli Group Inc.'s free cash flow?
Hongli Group Inc.'s free-cash-flow margin is 3.4% of revenue over the trailing twelve months, ranking 14 of the 24 electronic components companies we cover.
Who are Hongli Group Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Jane Street Group, LLC, Xtx Topco Ltd and HRT Financial LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Hongli Group Inc.'s market cap?
On December 31, 2025, Hongli Group Inc.'s market capitalisation was about $76.4M, with a price-to-earnings ratio of 39.3 and net debt of -$1.8M. Market figures come from third-party market data and may be delayed.
Who are Hongli Group Inc.'s competitors?
In our Electronic Components peer group, the companies closest to Hongli Group Inc. are Kulr Technology Group, Inc., Ostin Technology Group Co., Ltd., Espey MFG & Electronics Corp, M-tron Industries, Inc. and Highway Holdings LTD. The side-by-side comparison below sets their revenue, margins and growth against Hongli Group Inc.'s.