15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $7M | $106000 | 33.3% | -7.2% | -$461000 | — | $6M |
| 2024 | $6M | -$959000 | 27.0% | -25.8% | $297000 | — | $7M |
| 2023 | $10M | -$294000 | 30.7% | -4.7% | $717000 | — | $7M |
| 2022 | $12M | $443000 | 30.5% | 4.6% | -$298000 | — | $6M |
| 2021 | $9M | -$461000 | 29.5% | -6.7% | -$192000 | — | $8M |
| 2020 | $13M | $686000 | 33.1% | 5.9% | $351000 | — | $9M |
| 2019 | $14M | -$630000 | 25.1% | -5.3% | -$1M | — | $9M |
| 2018 | $19M | $2M | 35.2% | 10.1% | $2M | — | $11M |
| 2017 | $20M | $527000 | 28.4% | 3.9% | $2M | — | $10M |
| 2016 | $23M | $1M | 25.8% | 6.6% | $732000 | — | $9M |
| 2015 | $22M | $1M | 25.6% | 5.7% | — | — | $10M |
| 2014 | $23M | $596000 | 23.8% | 3.5% | — | $0 | $5M |
| 2013 | $22M | $448000 | 22.4% | 1.6% | -$254000 | $112000 | $5M |
| 2012 | $25M | $184000 | 20.2% | 0.9% | $289000 | $374000 | $6M |
| 2011 | — | $2M | — | — | $978000 | $908000 | $7M |
How the market has priced HIHO against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, HIGHWAY HOLDINGS LTD's revenue has declined 10.0% per year, and net income declined 31.2% per year. These are computed facts, not advice.
As of FY2025, HIGHWAY HOLDINGS LTD reported — of total debt against $6M of cash.
In FY2025, gross margin was 33.3%, operating margin -7.2%, and net margin 1.4%.
As of Jun '26, HIGHWAY HOLDINGS LTD traded at a price-to-earnings ratio of about 33.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.