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Huadi International Group Co., Ltd. (HUDI) stock

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NASDAQ: HUDI Nasdaq Steel

D Fundamentals grade

Huadi International Group Co., Ltd. is a US-listed company in the steel industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.8

Residual income

Base case. Range ~$1.1–$3.0. Book value plus the present value of returns above the cost of equity, fading over ten years.

Price vs value

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

Huadi International Group Co., Ltd. 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, 6 cuttingOf 3 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Huadi International Group files

Where Huadi International stands after its latest Filing

Revenue for the twelve months was $63m, down 15.3% on a year earlier, a steeper fall than the 11.9% decline a quarter earlier. That puts it 14 of 15 for growth among the steel companies we cover. Free-cash-flow margin rose to -15.8% from -202.7% a year earlier. Operating margin narrowed to -4.6% from 79.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 3 of our 6 financial-health checks. Our residual income value is $1.81 a share, against a share price of $0.51.

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

Huadi International Group Co., Ltd.'s trailing-twelve-month revenue fell 15.3% year on year, with a free-cash-flow margin of -15.8%. Where it stands out: stock pay as % of revenue of 0.0% ranks 1 of 11 steel companies we cover. Where it lags: revenue growth of -15.3% ranks 14 of 15 steel companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -15.3% (-3.4pp vs the prior quarter), the 3rd consecutive quarterly slowdown.

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

Nothing in Huadi International Group Co., Ltd.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 15.3% over the last 12 months.
  • Loss-making. Operating margin is -4.6%: costs exceed revenue.
  • Burning cash. Free cash flow was -15.8% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 73% and a beta of 0.3 against the S&P 500.
  • Growth easing. The growth rate is 3.4 points lower than a quarter earlier.
  • Below peers: change in growth rate. Change in growth rate of -3.4pp ranks 14 of 15 steel companies we cover (median +4.9pp).

Price chart

  • 1 day-0.2%
  • 1 week+18.1%
  • 1 month-25.7%
  • This year-54.6%
  • 1 year-63.4%
  • 5 years-97.8%
  • 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)
$62.9M
Operating margin
-4.6%
Net margin
-2.2%
EPS (TTM, diluted)
$-0.10

Growth

Revenue growth
−15.3%
Change in growth rate
−3.4 pts
Share count change
+0.1%

Cash

Free cash flow (TTM)
-$9.9M
FCF margin
-15.8%
Stock pay % of revenue
0.0%

News & updates

Updated October 31, 2026

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

No recent updates are available for HUDI 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

Huadi International Group Co., Ltd. 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 Huadi International Group Co., Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.92 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
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: revenue and margins don't support a positive 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. ~$1.8 ~$1.1–$3.0 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$2.9 ~$1.9–$6.8 Left out: out of range vs price (5.64x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) 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. ~$1.8 ~$1.1–$3.0 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Huadi International Group Co., Ltd. with Steel 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$4.50$24.47$3.38$2.75$1.36
Market value$55m$324m$48m$39m$19m
+ Net debt (− = net cash)$18m$8m−$10m−$18m$12m
Enterprise value$73m$332m$37m$21m$31m
Multiples
Price / sales 16.8x4.2x0.6x0.5x0.3x
Price / earnings 21.5x168.2x14.7xn/m—
Price / free cash flow —41.4x—3.1x—
EV / EBITDA 27.8x139.1x9.9x——

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: Low.

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 Huadi International Group Co., Ltd.: too few analysts cover it.

Positioning

Short interest
3.4%
of tradable shares
Days to cover
7.28
at average volume
Short interest, 1 month
−23%
to October 15, 2026
Held by institutions
1%
of shares
Held by insiders
70.5%
of shares
Employees
362
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
HUDI−84%−40%−43%−35%−55%
Industry peers (median)+18%+30%−2%+38%+24%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
HUDI33%33%33%42%27%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
HUDI−98%−79%−55%−42%−71%
S&P 500−25%−10%−8%−19%−9%

Worst fall since January 22, 2021: 100% from November 4, 2022 to October 26, 2026. Getting back needed a 41663% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.43 – $1.49
From 52-week high
−65.8%
vs 50-day average
−27.0%
vs 200-day average
−48.3%
Volatility (1 year)
73%
Beta vs S&P 500
0.35

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.

Huadi International Group Co., Ltd. in five measures

Fundamentals grade D
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) Huadi International Group Co., Ltd.
$0 $50M $100M FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY20 Q4: $1.4M Revenue (TTM), FY21 Q4: $3.2M Revenue (TTM), FY22 Q4: $76.4M Revenue (TTM), FY23 Q4: $84.3M Revenue (TTM), FY24 Q4: $74.3M Revenue (TTM), FY25 Q4: $62.9M $62.9M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY20 Q4 $1.4M
FY21 Q4 $3.2M
FY22 Q4 $76.4M
FY23 Q4 $84.3M
FY24 Q4 $74.3M
FY25 Q4 $62.9M
Revenue growth, TTM YoY Huadi International Group Co., Ltd.
-1000% 0% 1000% 2000% 3000% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue growth, TTM YoY, FY21 Q4: 136.5% Revenue growth, TTM YoY, FY22 Q4: 2257.0% Revenue growth, TTM YoY, FY23 Q4: 10.4% Revenue growth, TTM YoY, FY24 Q4: -11.9% Revenue growth, TTM YoY, FY25 Q4: -15.3% -15.3%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY21 Q4 136.5%
FY22 Q4 2257.0%
FY23 Q4 10.4%
FY24 Q4 -11.9%
FY25 Q4 -15.3%
Operating margin (TTM) Huadi International Group Co., Ltd.
-100% 0% 100% 200% 300% 400% FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY20 Q4: 336.1% Operating margin (TTM), FY21 Q4: 79.6% Operating margin (TTM), FY22 Q4: 3.1% Operating margin (TTM), FY23 Q4: 3.7% Operating margin (TTM), FY24 Q4: -2.2% Operating margin (TTM), FY25 Q4: -4.6% -4.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY20 Q4 336.1%
FY21 Q4 79.6%
FY22 Q4 3.1%
FY23 Q4 3.7%
FY24 Q4 -2.2%
FY25 Q4 -4.6%
FCF margin (TTM) Huadi International Group Co., Ltd.
-300% -200% -100% 0% 100% 200% FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY20 Q4: 185.3% FCF margin (TTM), FY21 Q4: -202.7% FCF margin (TTM), FY22 Q4: 10.2% FCF margin (TTM), FY23 Q4: -3.1% FCF margin (TTM), FY24 Q4: 17.1% FCF margin (TTM), FY25 Q4: -15.8% -15.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY20 Q4 185.3%
FY21 Q4 -202.7%
FY22 Q4 10.2%
FY23 Q4 -3.1%
FY24 Q4 17.1%
FY25 Q4 -15.8%

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 Sept 2020 2021 Sept 2021 2022 Sept 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025
Income
Revenue 1 3 76 84 74 63
Gross profit 11 11 11 12 7 7
EBITDA 5 3 2 4 −1 −2
Operating income 5 3 2 3 −2 −3
Net income 3 3 2 3 0 −1
Diluted EPS $0.34 $0.21 $0.15 $0.23 $0.01 −$0.10
Growth (year on year)
Revenue — +136.5% +>999% +10.4% −11.9% −15.3%
EBITDA — −43.7% −8.6% +58.0% −124.5% —
Operating income — −44.0% −8.7% +32.2% −151.7% —
Net income — −24.6% −24.0% +69.3% −95.8% —
Diluted EPS — −38.2% −28.6% +53.3% −95.7% —
Margins
Gross margin — — 14.6% 14.7% 9.9% 10.8%
EBITDA margin 338.3% 80.6% 3.1% 4.5% −1.2% −3.6%
Operating margin 336.1% 79.6% 3.1% 3.7% −2.2% −4.6%
Net margin 245.0% 78.1% 2.5% 3.9% 0.2% −2.2%
Free-cash-flow margin 185.3% −202.7% 10.2% −3.1% 17.1% −15.8%
Cash flow
Cash from operations 3 −6 8 −2 13 −8
Capital spending 1 1 0 0 0 1
Free cash flow 3 −7 8 −3 13 −10
Stock-based pay — — — 0 0 0
Free cash flow after stock pay — — — −3 13 −10
Balance sheet
Cash 1 15 13 20 18 6
Total debt 31 33 21 10 — 18
Net debt (negative = net cash) 30 18 8 −10 −18 12
Diluted shares 10m 12m 13m 14m 14m 14m

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 6 checks passed · September 30, 2025
What it owns · $110m
Short-term assets $70mLonger-term assets $39m
What it owes, and who funded it · $109m
Short-term liabilities $24mLonger-term liabilities $9mShareholders' equity $76m
  • Short-term assets cover short-term liabilities $70m of assets due within a year against $24m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $70m short-term assets against $9m of longer-dated liabilities.
  • More cash than debt $6m of cash against $8m of debt.
  • Debt below 40% of shareholders' equity Debt is 11% of equity.
  • 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 −$8m of operating cash flow against $8m of debt.
  • Operating profit covers interest at least five times over Operating income of −$3m against $195,369 of interest.

From Huadi International Group Co., Ltd.'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
+0.1%
year over year
R&D spending
3.4%
of revenue
Sales & admin spending
12.4%
of revenue
Days sales outstanding
144 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in steel
Last 12 months unless stated HUDI LUD IIIN MTUS ASTL SXC Median
Revenue, last 12 months $63m $34m $740m $1.2bn $1.5bn $1.9bn $5.3bn
Revenue growth, last 12 months −15.3% −25.3% 14.2% 16.1% −1.4% 2.9% 14.2%
Revenue growth, 3-year average — — 4.4% −0.5% — −2.7% 2.2%
Revenue growth, latest quarter — — 17.9% 12.0% — −0.2% 23.0%
Gross margin 10.8% 17.7% 10.2% 8.2% −31.9% 11.2% 11.2%
Operating margin −4.6% −3.2% — 0.9% −63.6% −1.3% 0.5%
Operating margin, 3-year average — — — −2.0% — 3.6% 3.6%
Net margin −2.2% 1.7% 4.0% 0.7% −47.2% −2.9% 1.7%
Cash from operations / revenue −13.5% −5.1% 5.0% 0.5% −3.2% 10.4% 4.6%
Free-cash-flow margin −15.8% −6.5% 3.4% −8.0% −18.9% 6.3% 2.8%
Free-cash-flow margin, 3-year average — — 4.6% −3.3% — 4.5% 4.4%
Stock pay / revenue 0.0% — 0.5% 1.2% — 0.2% 0.4%
Change in share count 0.1% 11.2% −0.2% −1.5% −9.5% 0.1% −0.8%

Median of all 15 companies we cover in steel. 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

15 steel companies
Measure Company Peer median Rank
Revenue growth Growth -15.3% 14.2% 14 of 15
Change in growth rate Growth -3.4pp +4.9pp 14 of 15
Gross margin Profitability 10.8% 10.8% 7 of 13
Operating margin Profitability -4.6% 0.1% 10 of 11
Net margin Profitability -2.2% 1.7% 12 of 15
Free-cash-flow margin Cash generation -15.8% 2.8% 14 of 15
Stock pay as % of revenue Cash generation 0.0% 0.4% 1 of 11
Long-term debt as % of assets Balance sheet 7.3% 18.5% 3 of 12
Change in share count Balance sheet 0.1% -0.8% 10 of 15
Days sales outstanding Balance sheet 144 days 52 days 11 of 12

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

Who owns it

Funds buying and selling
Reported value
$94,912
Institutions reporting
8
Shares held vs prior quarter
▲ 5.4%
Positions opened / closed
3 / 2

Top buyers and sellers, Q2 2026: 3 institutions bought and 6 sold ; the biggest buyer was Citadel Advisors LLC (+36K shares) and the biggest seller Renaissance Technologies LLC (−26K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Citadel Advisors LLC $32,704 36K 34.5% New
HRT Financial LP $24,000 27K 25.3% New
Bank Of Montreal $14,717 16K 15.5% ▼ 38.5%
Renaissance Technologies LLC $11,681 13K 12.3% ▼ 66.8%
Virtu Financial LLC $10,000 10K 10.5% New
UBS Group AG $1,391 2K 1.5% ▼ 44.2%
Sbi Securities Co., Ltd. $418 0K 0.4% 0.0%
Caitong International Asset Management Co., Ltd $1 0K 0.0% ▼ 66.7%

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 Huadi International Group Co., Ltd.'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 Huadi International Group Co., Ltd. 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.

Huadi International Group Co., Ltd. in brief

What does Huadi International Group Co., Ltd. do?
Huadi International Group Co., Ltd. is a US-listed company in the steel industry. Its financial year ends in September.
What is Huadi International Group Co., Ltd.'s stock ticker?
Huadi International Group Co., Ltd. trades under the ticker HUDI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Huadi International Group Co., Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Huadi International Group Co., Ltd. reported revenue of $62.9M, 15.3% lower than a year earlier, according to its SEC filings.
What is Huadi International Group Co., Ltd.'s free cash flow?
Huadi International Group Co., Ltd.'s free-cash-flow margin is -15.8% of revenue over the trailing twelve months, ranking 14 of the 15 steel companies we cover.
Who are Huadi International Group Co., Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Citadel Advisors LLC, HRT Financial LP and Bank Of Montreal. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Huadi International Group Co., Ltd.'s market cap?
On September 30, 2025, Huadi International Group Co., Ltd.'s market capitalisation was about $19.4M and net debt of $11.7M. Market figures come from third-party market data and may be delayed.
How much debt does Huadi International Group Co., Ltd. have?
Huadi International Group Co., Ltd.'s debt-to-equity ratio is 10.7%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Huadi International Group Co., Ltd.'s competitors?
In our Steel peer group, the companies closest to Huadi International Group Co., Ltd. are Luda Technology Group Ltd, Insteel Industries Inc, Metallus Inc., Algoma Steel Group Inc. and Suncoke Energy, Inc. The side-by-side comparison below sets their revenue, margins and growth against Huadi International Group Co., Ltd.'s.