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Tungray Technologies Inc (TRSG) stock

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NASDAQ: TRSG Nasdaq Construction Machinery & Heavy Transportation Equipment

C Fundamentals grade

Tungray Technologies Inc is a US-listed company in the construction machinery & heavy transportation equipment 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: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Tungray Technologies Inc 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.

  • Funds0 adding, 1 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 Tungray Technologies files

Where Tungray Technologies stands after its latest Filing

Revenue for the twelve months was $16m, up 22.0% on a year earlier, against a decline of 10.8% a quarter earlier. That growth ranks 5 of 23 among the construction machinery & heavy transportation equipment companies we cover. Free-cash-flow margin fell to -24.6% from 33.1% a year earlier. Operating margin narrowed to -1.5% from 27.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks.

Our model value for Tungray Technologies 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

Tungray Technologies Inc's trailing-twelve-month revenue grew 22.0% year on year, with a free-cash-flow margin of -24.6%. Where it stands out: change in growth rate of +32.8pp ranks 1 of 23 construction machinery & heavy transportation equipment companies we cover. Where it lags: free-cash-flow margin of -24.6% ranks 21 of 23 construction machinery & heavy transportation equipment companies we cover.

Current signal Net income rising while operating cash flow falls: TTM net income grew 70.2% while operating cash flow fell 275.3% — earnings and cash are telling different stories.

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 22.0% over the last 12 months, against a median of 10.1% for construction machinery & heavy transportation equipment companies we cover.
  • Growth speeding up. The growth rate is 32.8 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 3.6 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Loss-making. Operating margin is -1.5%: costs exceed revenue.
  • Burning cash. Free cash flow was -24.6% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 56% and a beta of 0.1 against the S&P 500.

Price chart

  • 1 day+1.5%
  • 1 week-1.5%
  • 1 month+4.7%
  • This year+6.9%
  • 1 year-15.9%
  • 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)
$15.6M
Operating margin
-1.5%
Net margin
-1.1%

Growth

Revenue growth
+22.0%
Change in growth rate
+32.8 pts

Cash

Free cash flow (TTM)
-$3.8M
FCF margin
-24.6%

News & updates

Updated October 31, 2026

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

No recent updates are available for TRSG 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

Tungray Technologies Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

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 Tungray Technologies Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.07 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: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.1 ~$1.6–$2.9 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$2.3 ~$2.0–$2.6 Included
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: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.9 ~$0.8–$2.9 Included, half weight
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 Tungray Technologies Inc with Construction Machinery & Heavy Transportation Equipment 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.

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 Tungray Technologies Inc: too few analysts cover it.

Positioning

Short interest
0.4%
of tradable shares
Days to cover
0.32
at average volume
Short interest, 1 month
−44%
to October 15, 2026
Held by institutions
4%
of shares
Held by insiders
78.9%
of shares
Employees
240
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

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Return and risk by year

Calendar year 20252026 to date
Return
TRSG−49%+7%
Industry peers (median)+11%+13%
S&P 500+18%+11%
Months that ended higher
TRSG25%46%
S&P 50075%46%
Largest fall from a high during the year
TRSG−55%−34%
S&P 500−19%−9%

Worst fall since April 19, 2024: 86% from April 29, 2024 to March 21, 2025. Getting back needed a 629% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.03 – $1.70
From 52-week high
−29.8%
vs 50-day average
−9.3%
vs 200-day average
−10.1%
Volatility (1 year)
57%
Beta vs S&P 500
0.11

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.

Fundamentals

Revenue (TTM) Tungray Technologies Inc
$12M $14M $16M $18M FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY21 Q4: $17.5M Revenue (TTM), FY22 Q4: $16.3M Revenue (TTM), FY23 Q4: $14.4M Revenue (TTM), FY24 Q4: $12.8M Revenue (TTM), FY25 Q4: $15.6M $15.6M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY21 Q4 $17.5M
FY22 Q4 $16.3M
FY23 Q4 $14.4M
FY24 Q4 $12.8M
FY25 Q4 $15.6M
Revenue growth, TTM YoY Tungray Technologies Inc
-20% -10% 0% 10% 20% 30% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue growth, TTM YoY, FY22 Q4: -6.5% Revenue growth, TTM YoY, FY23 Q4: -12.1% Revenue growth, TTM YoY, FY24 Q4: -10.8% Revenue growth, TTM YoY, FY25 Q4: 22.0% 22.0%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY22 Q4 -6.5%
FY23 Q4 -12.1%
FY24 Q4 -10.8%
FY25 Q4 22.0%
Operating margin (TTM) Tungray Technologies Inc
-10% 0% 10% 20% 30% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY21 Q4: 27.9% Operating margin (TTM), FY22 Q4: 20.1% Operating margin (TTM), FY23 Q4: 7.7% Operating margin (TTM), FY24 Q4: -5.1% Operating margin (TTM), FY25 Q4: -1.5% -1.5%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY21 Q4 27.9%
FY22 Q4 20.1%
FY23 Q4 7.7%
FY24 Q4 -5.1%
FY25 Q4 -1.5%
FCF margin (TTM) Tungray Technologies Inc
-40% -20% 0% 20% 40% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY21 Q4: 33.1% FCF margin (TTM), FY22 Q4: 21.4% FCF margin (TTM), FY23 Q4: 2.8% FCF margin (TTM), FY24 Q4: -9.9% FCF margin (TTM), FY25 Q4: -24.6% -24.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY21 Q4 33.1%
FY22 Q4 21.4%
FY23 Q4 2.8%
FY24 Q4 -9.9%
FY25 Q4 -24.6%

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 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 17 16 14 13 16
Gross profit 9 9 7 6 7
EBITDA 5 3 1 −0 0
Operating income 5 3 1 −1 −0
Net income 4 3 1 −1 −0
Diluted EPS $0.29 $0.19 $0.06 — —
Growth (year on year)
Revenue — −6.5% −12.1% −10.8% +22.0%
EBITDA — −32.0% −61.0% −121.6% —
Operating income — −32.7% −66.5% −159.7% —
Net income — −33.7% −73.5% −175.5% —
Diluted EPS — −34.5% −68.4% — —
Margins
Gross margin 53.0% 56.7% 46.7% 43.7% 45.9%
EBITDA margin 29.1% 21.2% 9.4% −2.3% 0.9%
Operating margin 27.9% 20.1% 7.7% −5.1% −1.5%
Net margin 24.6% 17.5% 5.3% −4.5% −1.1%
Free-cash-flow margin 33.1% 21.4% 2.8% −9.9% −24.6%
Cash flow
Cash from operations 6 4 0 −1 −3
Capital spending 0 0 0 0 1
Free cash flow 6 3 0 −1 −4
Balance sheet
Cash 11 13 11 9 7
Total debt 0 3 2 1 1
Net debt (negative = net cash) −11 −11 −9 −8 −5
Diluted shares 15m 15m 15m — —
Returned to shareholders
Dividends — 2 1 1 —
Total returned — 2 1 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 · December 31, 2025
What it owns · $30m
Short-term assets $19mLonger-term assets $11m
What it owes, and who funded it · $30m
Short-term liabilities $10mLonger-term liabilities $2mShareholders' equity $18m
  • Short-term assets cover short-term liabilities $19m of assets due within a year against $10m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $19m short-term assets against $2m 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 −$241,808 against $66,306 of interest.

From Tungray Technologies 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

Dividends (TTM)
$517,140
Returned to shareholders
-41%
of free cash flow
Total shareholder yield
3.7%
dividends 3.7% + buybacks 0.0% of market value
R&D spending
6.2%
of revenue

Competitors: side by side with peers

Closest by revenue in construction machinery & heavy transportation equipment
Last 12 months unless stated TRSG HYLN GENC RVSN RAIL FSTR Median
Revenue, last 12 months $16m $9m $110m $1m $464m $558m $2.1bn
Revenue growth, last 12 months 22.0% 163.2% −6.4% 14.4% −0.5% 10.1% 10.1%
Revenue growth, 3-year average — 62.1% 0.8% — 6.4% 1.7% 4.3%
Revenue growth, latest quarter — 226.3% 25.3% — −4.6% −3.5% 17.8%
Gross margin 45.9% 6.5% 28.6% 37.1% 12.5% 21.4% 21.4%
Operating margin −1.5% −635.2% 11.7% −789.2% 3.8% 4.4% 5.9%
Operating margin, 3-year average — <−999% 12.8% — 4.8% 3.2% 8.6%
Net margin −1.1% −564.3% 13.5% −746.5% −2.8% 2.0% 3.2%
Cash from operations / revenue −19.5% −458.2% 1.0% −613.4% 4.6% 10.5% 8.9%
Free-cash-flow margin −24.6% −612.3% −1.5% −621.9% 3.9% 8.4% 7.0%
Free-cash-flow margin, 3-year average — <−999% 5.9% — 7.0% 4.7% 5.9%
Stock pay / revenue — 64.8% 0.1% 98.2% 0.6% 1.1% 0.6%
Change in share count 0.0% 1.6% −0.1% 225.8% 6.4% −0.5% −0.1%

Median of all 23 companies we cover in construction machinery & heavy transportation equipment. 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

23 construction machinery & heavy transportation equipment companies
Measure Company Peer median Rank
Revenue growth Growth 22.0% 10.1% 5 of 23
Change in growth rate Growth +32.8pp +4.6pp 1 of 23
Gross margin Profitability 45.9% 21.4% 1 of 23
Operating margin Profitability -1.5% 5.8% 17 of 21
Net margin Profitability -1.1% 3.2% 18 of 23
Free-cash-flow margin Cash generation -24.6% 7.0% 21 of 23

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

Who owns it

Funds buying and selling
Reported value
$782,573
Institutions reporting
1
Shares held vs prior quarter
▼ 0.1%
Positions opened / closed
0 / 1

Top buyers and sellers, Q2 2026: 0 institutions bought and 1 sold and the biggest seller UBS Group AG (−291). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
T3 Companies, LLC $782,573 499K 100.0% 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 Tungray Technologies 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 Tungray Technologies 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.

Tungray Technologies Inc in brief

What does Tungray Technologies Inc do?
Tungray Technologies Inc is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.
What is Tungray Technologies Inc's stock ticker?
Tungray Technologies Inc trades under the ticker TRSG on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Tungray Technologies Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Tungray Technologies Inc reported revenue of $15.6M, 22.0% higher than a year earlier, according to its SEC filings.
What is Tungray Technologies Inc's free cash flow?
Tungray Technologies Inc's free-cash-flow margin is -24.6% of revenue over the trailing twelve months, ranking 21 of the 23 construction machinery & heavy transportation equipment companies we cover.
Does Tungray Technologies Inc pay a dividend?
Yes: Tungray Technologies Inc paid $517,140 in dividends over the trailing twelve months, a dividend yield of 3.67%.
Who are Tungray Technologies Inc's competitors?
In our Construction Machinery & Heavy Transportation Equipment peer group, the companies closest to Tungray Technologies Inc are Hyliion Holdings Corp., Gencor Industries Inc, Rail Vision Ltd., Freightcar America, Inc. and Foster L B Co. The side-by-side comparison below sets their revenue, margins and growth against Tungray Technologies Inc's.