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High-trend International Group (HTCO) stock

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NASDAQ: HTCO Nasdaq Marine Transportation

C Fundamentals grade

High-trend International Group is a US-listed company in the marine transportation industry. Its financial year ends in October.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$5.0

Price-to-sales vs peers

Base case. Range ~$5.0–$96. Sales per share times peers' typical price-to-sales; used only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

High-trend International Group valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds3 adding, 3 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter High-trend International Group files

Where High-trend International stands after its latest Filing

Revenue for the twelve months was $214m, up 98.2% on a year earlier, faster than the 13.6% growth a quarter earlier. That growth ranks 1 of 40 among the marine transportation companies we cover. Operating margin narrowed to -9.3% from 8.6%. The diluted share count is up 132.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks. Our price-to-sales vs peers value is $5.04 a share, against a share price of $1.32.

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

High-trend International Group's trailing-twelve-month revenue grew 98.2% year on year, with a free-cash-flow margin of 2.2%. Where it stands out: revenue growth of 98.2% ranks 1 of 40 marine transportation companies we cover. Where it lags: gross margin of 3.2% ranks 10 of 10 marine transportation companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 98.2% (+84.6pp 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 98.2% over the last 12 months, against a median of 0.8% for marine transportation companies we cover.
  • Growth speeding up. The growth rate is 84.6 points higher than a quarter earlier.

Things to watch

  • Loss-making. Operating margin is -9.3%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 11.4 points on a year ago.
  • Share dilution. Diluted shares rose 132.4% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 302% and a beta of 2.2 against the S&P 500.
  • Gross margin slipping. Gross margin is down 4.3 points on a year ago.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 10.2% ranks 33 of 34 marine transportation companies we cover (median 0.9%).

Price chart

  • 1 day0.0%
  • 1 week-17.0%
  • 1 month-43.3%
  • This year-84.4%
  • 1 year-88.0%
  • 5 years-99.5%
  • 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)
$214M
Operating margin
-9.3%
Net margin
-10.0%
EPS (TTM, diluted)
$-3.92

Growth

Revenue growth
+98.2%
Change in growth rate
+84.6 pts
Share count change
+132.4%

Cash

Free cash flow (TTM)
$4.6M
FCF margin
2.2%
Stock pay % of revenue
10.2%

News & updates

Updated October 31, 2026

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

No recent updates are available for HTCO 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

High-trend International Group valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value High-trend International Group as an operating company, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.59 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. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$5.0 ~$29–$96 Included, half weight
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
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. ~$5.0 ~$5.0–$96 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare High-trend International Group with Marine Transportation 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 20212022202320242025
Share price$247.50$252.50$15.05$26.25$10.98
Market value$495m$505m$32m$62m$60m
+ Net debt (− = net cash)−$6m−$18m$194705−$5m−$10m
Enterprise value$489m$487m$32m$56m$50m
Multiples
Price / sales 4.1x2.7x0.3x0.6x0.3x
Price / earnings 93.2x41.3x———
Price / free cash flow ————13.0x
EV / EBITDA 46.5x20.6x—24.3x—

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 High-trend International Group: too few analysts cover it.

Positioning

Short interest
0.9%
of tradable shares
Days to cover
0.66
at average volume
Short interest, 1 month
−46%
to October 15, 2026
Held by institutions
2%
of shares
Held by insiders
34.8%
of shares
Employees
18
full time

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 20222023202420252026 to date
Return
HTCO−87%−63%+609%−90%−84%
Industry peers (median)+15%+22%−11%+22%+33%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
HTCO58%33%75%50%27%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
HTCO−90%−74%−75%−96%−97%
S&P 500−25%−10%−8%−19%−9%

Worst fall since September 27, 2021: 100% from November 22, 2022 to October 14, 2026. Getting back needed a 25575% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.00 – $38.22
From 52-week high
−96.5%
vs 50-day average
−32.7%
vs 200-day average
−76.4%
Volatility (1 year)
302%
Beta vs S&P 500
2.25

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.

High-trend International Group 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) High-trend International Group
$50M $100M $150M $200M $250M FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY20 Q4: $78.4M Revenue (TTM), FY21 Q4: $122M Revenue (TTM), FY22 Q4: $185.3M Revenue (TTM), FY23 Q4: $95.3M Revenue (TTM), FY24 Q4: $108.2M Revenue (TTM), FY25 Q4: $214.4M $214.4M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY20 Q4 $78.4M
FY21 Q4 $122M
FY22 Q4 $185.3M
FY23 Q4 $95.3M
FY24 Q4 $108.2M
FY25 Q4 $214.4M
Revenue growth, TTM YoY High-trend International Group
-50% 0% 50% 100% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue growth, TTM YoY, FY21 Q4: 55.7% Revenue growth, TTM YoY, FY22 Q4: 52.0% Revenue growth, TTM YoY, FY23 Q4: -48.6% Revenue growth, TTM YoY, FY24 Q4: 13.6% Revenue growth, TTM YoY, FY25 Q4: 98.2% 98.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY21 Q4 55.7%
FY22 Q4 52.0%
FY23 Q4 -48.6%
FY24 Q4 13.6%
FY25 Q4 98.2%
Operating margin (TTM) High-trend International Group
-20% -10% 0% 10% 20% FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY20 Q4: -7.3% Operating margin (TTM), FY21 Q4: 8.6% Operating margin (TTM), FY22 Q4: 12.7% Operating margin (TTM), FY23 Q4: -16.4% Operating margin (TTM), FY24 Q4: 2.1% Operating margin (TTM), FY25 Q4: -9.3% -9.3%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY20 Q4 -7.3%
FY21 Q4 8.6%
FY22 Q4 12.7%
FY23 Q4 -16.4%
FY24 Q4 2.1%
FY25 Q4 -9.3%

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

Financial statements

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

Fiscal year 2020 Oct 2020 2021 Oct 2021 2022 Oct 2022 2023 Oct 2023 2024 Oct 2024 2025 Oct 2025
Income
Revenue 78 122 185 95 108 214
Gross profit −4 13 27 −12 8 7
EBITDA −6 11 24 −16 2 −20
Operating income −6 10 24 −16 2 −20
Net income −3 5 12 −9 −24 −21
Diluted EPS −$1.50 $2.75 $6.00 −$4.45 −$10.02 −$4.18
Growth (year on year)
Revenue — +55.7% +52.0% −48.6% +13.6% +98.2%
EBITDA — — +124.5% −166.0% — −955.8%
Operating income — — +125.0% −166.3% — −964.0%
Net income — — +130.4% −176.3% — —
Diluted EPS — — +118.2% −174.2% — —
Margins
Gross margin −5.0% 10.6% 14.5% −12.5% 7.5% 3.2%
EBITDA margin −7.3% 8.6% 12.7% −16.4% 2.2% −9.3%
Operating margin −7.3% 8.6% 12.7% −16.4% 2.1% −9.3%
Net margin −4.0% 4.4% 6.6% −9.8% −21.8% −10.0%
Free-cash-flow margin 1.4% — — — — 2.2%
Cash flow
Cash from operations 1 1 33 −18 −3 5
Capital spending 0 — — — — 0
Free cash flow 1 — — — — 5
Stock-based pay — — — — 1 22
Free cash flow after stock pay — — — — — −17
Balance sheet
Cash 8 10 22 2 7 10
Total debt 0 4 3 2 1 —
Net debt (negative = net cash) −8 −6 −18 0 −5 −10
Diluted shares 2m 2m 2m 2m 2m 5m
Returned to shareholders
Dividends — — 17 1 — —
Total returned — — 17 1 — —

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

2 of 3 checks passed · October 31, 2025
What it owns · $32m
Short-term assets $30mLonger-term assets $2m
What it owes, and who funded it · $28m
Short-term liabilities $20mLonger-term liabilities $0mShareholders' equity $8m
  • Short-term assets cover short-term liabilities $30m of assets due within a year against $20m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $30m short-term assets against $26,533 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 −$20m against $45,935 of interest.

From High-trend International Group'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
+132.4%
year over year
Days sales outstanding
15 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in marine transportation
Last 12 months unless stated HTCO DSX SMHI ESEA GASS SHIP Median
Revenue, last 12 months $214m $214m $208m $228m $173m $158m $329m
Revenue growth, last 12 months 98.2% −6.4% −15.0% 7.0% 3.5% −5.6% 0.8%
Revenue growth, 3-year average — 9.2% −7.6% 102.3% 12.5% 87.9% 16.8%
Gross margin 3.2% 97.4% 20.7% — — 100.0% 64.5%
Operating margin −9.3% 19.8% 1.5% 65.6% 31.8% 27.4% 18.6%
Operating margin, 3-year average — −83.2% 4.7% 30.5% 7.1% 24.7% 13.1%
Net margin −10.0% 8.3% −17.6% 60.1% 35.0% 13.4% 13.3%
Cash from operations / revenue 2.2% 22.2% −20.9% 61.9% 49.2% 33.3% 33.1%
Free-cash-flow margin 2.2% 21.5% −34.4% 49.4% 49.0% 10.8% 14.2%
Free-cash-flow margin, 3-year average — −2.7% −22.9% 1.6% 18.0% −35.2% 9.4%
Stock pay / revenue 10.2% 5.0% 2.5% 0.9% 2.9% 2.6% 0.7%
Change in share count 132.4% −6.9% −3.3% −0.2% 1.6% 3.3% 0.5%

Median of all 42 companies we cover in marine transportation. 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

42 marine transportation companies
Measure Company Peer median Rank
Revenue growth Growth 98.2% 0.8% 1 of 40
Change in growth rate Growth +84.6pp +0.7pp 3 of 40
Gross margin Profitability 3.2% 62.3% 10 of 10
Operating margin Profitability -9.3% 19.8% 37 of 40
Net margin Profitability -10.0% 13.4% 38 of 42
Free-cash-flow margin Cash generation 2.2% 13.6% 33 of 41
Stock pay as % of revenue Cash generation 10.2% 0.9% 33 of 34
Long-term debt as % of assets Balance sheet 3.1% 24.2% 4 of 35
Change in share count Balance sheet 132.4% 0.5% 36 of 39
Days sales outstanding Balance sheet 15 days 19 days 11 of 33

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

Who owns it

Funds buying and selling
Reported value
$576,583
Institutions reporting
6
Shares held vs prior quarter
▲ 60.9%
Positions opened / closed
1 / 1

Top buyers and sellers, Q2 2026: 3 institutions bought and 3 sold ; the biggest buyer was Morgan Stanley (+40K shares) and the biggest seller Jane Street Group, LLC (−16K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
UBS Group AG $256,709 61K 44.5% ▲ 95.3%
Morgan Stanley $168,408 40K 29.2% ▲ 2000000.0%
HRT Financial LP $141,000 34K 24.5% ▼ 10.8%
Tower Research Capital LLC (TRC) $10,441 2K 1.8% New
Caitong International Asset Management Co., Ltd $21 0K 0.0% ▼ 28.6%
Sbi Securities Co., Ltd. $4 0K 0.0% 0.0%

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 High-trend International Group'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

Data status

When each part of this page on High-trend International Group 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.

High-trend International Group in brief

What does High-trend International Group do?
High-trend International Group is a US-listed company in the marine transportation industry. Its financial year ends in October.
What is High-trend International Group's stock ticker?
High-trend International Group trades under the ticker HTCO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is High-trend International Group's revenue, and how fast is it growing?
Over its most recent trailing twelve months, High-trend International Group reported revenue of $214M, 98.2% higher than a year earlier, according to its SEC filings.
What is High-trend International Group's free cash flow?
High-trend International Group's free-cash-flow margin is 2.2% of revenue over the trailing twelve months, ranking 33 of the 41 marine transportation companies we cover.
Who are High-trend International Group's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are UBS Group AG, Morgan Stanley 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 High-trend International Group's market cap?
On October 31, 2025, High-trend International Group's market capitalisation was about $60.1M and net debt of -$10.1M. Market figures come from third-party market data and may be delayed.
Who are High-trend International Group's competitors?
In our Marine Transportation peer group, the companies closest to High-trend International Group are Diana Shipping Inc., Seacor Marine Holdings Inc., Euroseas LTD., Stealthgas Inc. and Seanergy Maritime Holdings Corp. The side-by-side comparison below sets their revenue, margins and growth against High-trend International Group's.