Haoxin Holdings Ltd key statistics and ratios

In fiscal 2025, Haoxin Holdings Ltd had return on equity of 17.3%, an operating margin of 23.6%, debt equal to 38.6% of equity and a current ratio of 2.37. 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.

Haoxin Holdings Ltd: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	26.7%	25.7%	25.4%	25.1%
Operating margin	21.4%	22.5%	21.7%	23.6%
Net margin	14.8%	14.9%	12.4%	12.0%
Free-cash-flow margin	−1.7%	3.5%	−15.5%	−42.4%
Return on equity	35.4%	28.6%	18.6%	17.3%
Return on assets	—	14.1%	10.5%	9.6%
Asset turnover	—	0.95	0.84	0.80
Current ratio	—	2.19	2.24	2.37
Debt to equity	0.0%	20.6%	16.2%	38.6%
Interest cover (operating income ÷ interest)	37.4x	39.0x	29.3x	28.9x
Effective tax rate	27.6%	27.9%	30.9%	30.3%
Capital spending as % of revenue	0.2%	0.0%	0.0%	13.6%
Free cash flow ÷ net income	−11.7%	23.2%	−124.8%	−353.5%

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.

Financial health

3 of 3 checks passed · December 31, 2025

What it owns · $50m

Short-term assets $46mLonger-term assets $4m

What it owes, and who funded it · $50m

Short-term liabilities $19mLonger-term liabilities $3mShareholders' equity $28m

Short-term assets cover short-term liabilities $46m of assets due within a year against $19m of liabilities due within a year.
Short-term assets cover long-term liabilities $46m short-term assets against $3m 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 $8m against $269,942 of interest.

From Haoxin Holdings 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.

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.

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