Tungray Technologies Inc key statistics and ratios

In fiscal 2025, Tungray Technologies Inc had return on equity of -1.0%, an operating margin of -1.5%, debt equal to 7.1% of equity and a current ratio of 1.94. 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.

Tungray Technologies Inc: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	53.0%	56.7%	46.7%	43.7%	45.9%
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%
Return on equity	35.2%	21.1%	5.0%	−3.5%	−1.0%
Return on assets	—	11.0%	2.9%	−2.0%	−0.6%
Asset turnover	—	0.63	0.54	0.45	0.53
Current ratio	—	2.15	2.05	1.86	1.94
Debt to equity	0.0%	17.1%	13.3%	7.2%	7.1%
Interest cover (operating income ÷ interest)	35.2x	15.7x	16.4x	n/m	n/m
Effective tax rate	14.2%	−18.1%	41.5%	—	—
R&D as % of revenue	3.8%	5.1%	5.5%	8.3%	6.2%
Capital spending as % of revenue	1.2%	0.9%	0.3%	3.5%	5.1%
Free cash flow ÷ net income	134.5%	122.5%	53.9%	—	—
Dividends ÷ net income	—	58.0%	168.6%	—	—
Dividends and buybacks ÷ free cash flow	—	47.4%	312.9%	—	—

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

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.

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 Tungray Technologies Inc's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Tungray Technologies Inc.