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Luda Technology Group Ltd (LUD) stock

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NYSE: LUD NYSE Steel

D Fundamentals grade

Luda Technology Group Ltd is a US-listed company in the steel industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($0.69) was left out of our combined valuation (it is 0.17x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($0.69) was left out of our combined valuation (it is 0.17x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Luda Technology Group 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.

  • Funds2 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 Luda Technology Group files

Where Luda Technology stands after its latest Filing

Revenue for the twelve months was $34m. That puts it 15 of 15 for growth among the steel companies we cover. Free-cash-flow margin held at -6.5%. The diluted share count is up 11.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 6 financial-health checks.

Our model value for Luda Technology Group is under review, so past values are not shown until it is resolved.

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

Luda Technology Group Ltd's trailing-twelve-month revenue fell 25.3% year on year, with a free-cash-flow margin of -6.5%. Where it stands out: long-term debt as % of assets of 3.6% ranks 2 of 12 steel companies we cover. Where it lags: revenue growth of -25.3% ranks 15 of 15 steel companies we cover.

Our discounted-cash-flow model values the business at ~$0.7 per share in the base case (~$0.4–$1.0 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -25.3% (-12.5pp vs the prior quarter), the 2nd 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 Luda Technology Group Ltd's latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 25.3% over the last 12 months.
  • Growth slowing. The growth rate is 12.5 points lower than a quarter earlier.
  • Loss-making. Operating margin is -3.2%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 4.2 points on a year ago.
  • Burning cash. Free cash flow was -6.5% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 11.2% in a year.

Price chart

  • 1 day+13.7%
  • 1 week+6.3%
  • 1 month+7.9%
  • This year-35.8%
  • 1 year-51.6%
  • 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)
$33.5M
Operating margin
-3.2%
Net margin
1.7%
EPS (TTM, diluted)
$0.03

Growth

Revenue growth
−25.3%
Change in growth rate
−12.5 pts
Share count change
+11.2%

Cash

Free cash flow (TTM)
-$2.2M
FCF margin
-6.5%

News & updates

Updated October 31, 2026

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

No recent updates are available for LUD 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

Luda Technology Group Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($0.69) was left out of our combined valuation (it is 0.17x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Luda Technology Group Ltd's free cash flow after stock-based pay ( $1.3M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Luda Technology Group Ltd as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$0.7 ~$0.4–$1.0 Left out: out of range vs price (0.17x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$0.4 ~$0.4–$0.5 Left out: out of range vs price (0.10x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.1 ~$0.8–$1.5 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$1.1 ~$1.0–$1.3 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Luda Technology Group 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 2025
Share price$6.42
Market value$143m
+ Net debt (− = net cash)$8m
Enterprise value$151m
Multiples
Price / sales 4.3x
Price / earnings n/m
Price / free cash flow —
EV / EBITDA —

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 Luda Technology Group Ltd: too few analysts cover it.

Positioning

Short interest
0.6%
of tradable shares
Days to cover
3.64
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
0%
of shares
Held by insiders
88.1%
of shares
Employees
160
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 2026 to date
Return
LUD−36%
Industry peers (median)+24%
S&P 500+11%
Months that ended higher
LUD27%
S&P 50046%
Largest fall from a high during the year
LUD−66%
S&P 500−9%

Worst fall since February 27, 2025: 84% from September 10, 2025 to March 31, 2026. Getting back needed a 516% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.20 – $11.85
From 52-week high
−65.2%
vs 50-day average
+2.9%
vs 200-day average
−16.5%
Volatility (1 year)
146%
Beta vs S&P 500
1.20

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.

Luda Technology Group 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) Luda Technology Group Ltd
$30M $35M $40M $45M $50M $55M FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY22 Q4: $49.9M Revenue (TTM), FY23 Q4: $51.4M Revenue (TTM), FY24 Q4: $44.9M Revenue (TTM), FY25 Q4: $33.5M $33.5M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY22 Q4 $49.9M
FY23 Q4 $51.4M
FY24 Q4 $44.9M
FY25 Q4 $33.5M
Operating margin (TTM) Luda Technology Group Ltd
-5% 0% 5% 10% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY22 Q4: 7.7% Operating margin (TTM), FY23 Q4: 7.5% Operating margin (TTM), FY24 Q4: 1.0% Operating margin (TTM), FY25 Q4: -3.2% -3.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY22 Q4 7.7%
FY23 Q4 7.5%
FY24 Q4 1.0%
FY25 Q4 -3.2%
FCF margin (TTM) Luda Technology Group Ltd
-10% -5% 0% 5% 10% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY22 Q4: -2.9% FCF margin (TTM), FY23 Q4: 3.1% FCF margin (TTM), FY24 Q4: 9.8% FCF margin (TTM), FY25 Q4: -6.5% -6.5%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY22 Q4 -2.9%
FY23 Q4 3.1%
FY24 Q4 9.8%
FY25 Q4 -6.5%

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 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 50 51 45 34
Gross profit 10 11 11 6
EBITDA 4 4 1 −0
Operating income 4 4 0 −1
Net income 3 3 −0 1
Diluted EPS $0.15 $0.15 −$0.02 $0.03
Growth (year on year)
Revenue — +3.2% −12.8% −25.3%
EBITDA — +1.6% −85.0% —
Operating income — +1.3% −88.2% —
Net income — −1.1% −111.9% —
Diluted EPS — 0.0% −113.3% —
Margins
Gross margin 20.6% 21.2% 25.4% 17.7%
EBITDA margin 7.8% 7.7% 1.3% −1.4%
Operating margin 7.7% 7.5% 1.0% −3.2%
Net margin 6.2% 5.9% −0.8% 1.7%
Free-cash-flow margin −2.9% 3.1% 9.8% −6.5%
Cash flow
Cash from operations −1 3 5 −2
Capital spending 0 2 1 0
Free cash flow −1 2 4 −2
Balance sheet
Cash 4 8 8 5
Total debt 0 11 12 13
Net debt (negative = net cash) −4 3 4 8
Diluted shares 20m 20m 20m 22m
Returned to shareholders
Dividends — 1 3 —
Total returned — 1 3 —

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 6 checks passed · December 31, 2025
What it owns · $49m
Short-term assets $40mLonger-term assets $9m
What it owes, and who funded it · $49m
Short-term liabilities $25mLonger-term liabilities $2mShareholders' equity $22m
  • Short-term assets cover short-term liabilities $40m of assets due within a year against $25m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $40m short-term assets against $2m of longer-dated liabilities.
  • More cash than debt $5m of cash against $13m of debt.
  • Debt below 40% of shareholders' equity Debt is 57% 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 −$2m of operating cash flow against $13m of debt.
  • Operating profit covers interest at least five times over Operating income of −$1m against $520,916 of interest.

From Luda Technology Group 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

Dividends (TTM)
$3.4M
Returned to shareholders
77%
of free cash flow
Diluted share count
+11.2%
year over year
Total shareholder yield
3.6%
dividends 3.6% + buybacks 0.0% of market value
Dividend payout ratio
607%
of net income paid out
R&D spending
4.3%
of revenue
Days sales outstanding
147 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in steel
Last 12 months unless stated LUD HUDI IIIN MTUS ASTL SXC Median
Revenue, last 12 months $34m $63m $740m $1.2bn $1.5bn $1.9bn $5.3bn
Revenue growth, last 12 months −25.3% −15.3% 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 17.7% 10.8% 10.2% 8.2% −31.9% 11.2% 11.2%
Operating margin −3.2% −4.6% — 0.9% −63.6% −1.3% 0.5%
Operating margin, 3-year average — — — −2.0% — 3.6% 3.6%
Net margin 1.7% −2.2% 4.0% 0.7% −47.2% −2.9% 1.7%
Cash from operations / revenue −5.1% −13.5% 5.0% 0.5% −3.2% 10.4% 4.6%
Free-cash-flow margin −6.5% −15.8% 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 11.2% 0.1% −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 -25.3% 14.2% 15 of 15
Change in growth rate Growth -12.5pp +4.9pp 15 of 15
Gross margin Profitability 17.7% 10.8% 3 of 13
Operating margin Profitability -3.2% 0.1% 9 of 11
Net margin Profitability 1.7% 1.7% 8 of 15
Free-cash-flow margin Cash generation -6.5% 2.8% 12 of 15
Long-term debt as % of assets Balance sheet 3.6% 18.5% 2 of 12
Change in share count Balance sheet 11.2% -0.8% 13 of 15
Days sales outstanding Balance sheet 147 days 52 days 12 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
$116,293
Institutions reporting
4
Shares held vs prior quarter
▲ 2.3%
Positions opened / closed
2 / 1

Top buyers and sellers, Q2 2026: 2 institutions bought and 3 sold ; the biggest buyer was Xtx Topco Ltd (+23K shares) and the biggest seller Jane Street Group, LLC (−21K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Xtx Topco Ltd $101,423 23K 87.2% New
UBS Group AG $11,291 3K 9.7% ▼ 4.9%
Tower Research Capital LLC (TRC) $3,552 1K 3.1% ▼ 46.7%
Caitong International Asset Management Co., Ltd $27 0K 0.0% New

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 Luda Technology Group 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

Data status

When each part of this page on Luda Technology Group 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.

Luda Technology Group Ltd in brief

What does Luda Technology Group Ltd do?
Luda Technology Group Ltd is a US-listed company in the steel industry. Its financial year ends in December.
What is Luda Technology Group Ltd's stock ticker?
Luda Technology Group Ltd trades under the ticker LUD on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Luda Technology Group Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Luda Technology Group Ltd reported revenue of $33.5M, 25.3% lower than a year earlier, according to its SEC filings.
What is Luda Technology Group Ltd's free cash flow?
Luda Technology Group Ltd's free-cash-flow margin is -6.5% of revenue over the trailing twelve months, ranking 12 of the 15 steel companies we cover.
Who are Luda Technology Group Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Xtx Topco Ltd, UBS Group AG and Tower Research Capital LLC (TRC). 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Luda Technology Group Ltd's market cap?
On December 31, 2025, Luda Technology Group Ltd's market capitalisation was about $143M, with a price-to-earnings ratio of 256.4 and net debt of $8.2M. Market figures come from third-party market data and may be delayed.
Does Luda Technology Group Ltd pay a dividend?
Yes: Luda Technology Group Ltd paid $3.4M in dividends over the trailing twelve months, a dividend yield of 3.61% and a payout ratio of 606.6%.
How much debt does Luda Technology Group Ltd have?
Luda Technology Group Ltd's debt-to-equity ratio is 57.0%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Luda Technology Group Ltd's competitors?
In our Steel peer group, the companies closest to Luda Technology Group Ltd are Huadi International Group Co., 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 Luda Technology Group Ltd's.