Planet Image International Ltd key statistics and ratios

In fiscal 2025, Planet Image International Ltd had return on equity of -14.4%, an operating margin of -7.3%, debt equal to 52.4% of equity and a current ratio of 1.57. 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.

Planet Image International Ltd: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	34.5%	38.7%	39.3%	34.9%	29.4%
Operating margin	2.2%	8.0%	8.5%	4.6%	−7.3%
Net margin	3.5%	5.1%	5.2%	4.7%	−5.3%
Free-cash-flow margin	3.2%	4.4%	11.3%	−2.2%	−2.1%
Return on equity	30.1%	35.0%	26.7%	15.8%	−14.4%
Return on assets	—	6.1%	6.2%	5.3%	−5.6%
Asset turnover	—	1.20	1.21	1.11	1.06
Current ratio	—	1.36	1.44	1.45	1.57
Debt to equity	0.0%	123.8%	79.2%	41.2%	52.4%
Interest cover (operating income ÷ interest)	2.6x	9.5x	23.6x	39.4x	—
Effective tax rate	0.1%	1.9%	9.8%	5.5%	—
R&D as % of revenue	3.8%	4.8%	4.4%	4.2%	6.3%
Capital spending as % of revenue	1.3%	0.8%	0.7%	0.8%	0.5%
Free cash flow ÷ net income	92.5%	86.6%	217.4%	−46.0%	—

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

5 of 6 checks passed · December 31, 2025

What it owns · $154m

Short-term assets $127mLonger-term assets $27m

What it owes, and who funded it · $154m

Short-term liabilities $81mLonger-term liabilities $16mShareholders' equity $58m

Short-term assets cover short-term liabilities $127m of assets due within a year against $81m of liabilities due within a year.
Short-term assets cover long-term liabilities $127m short-term assets against $16m of longer-dated liabilities.
More cash than debt $53m of cash against $8m of debt.
Debt below 40% of shareholders' equity Debt is 15% 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 $8m of debt.
Operating profit covers interest at least five times over Operating income of −$11m against −$279,000 of interest.

From Planet Image International 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: Medium.

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 Planet Image International Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Planet Image International Ltd.