HTCR Financials HeartCore Enterprises, Inc.

6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 34 d ago Overview →

Growth & profitability

Revenue has declined 0.1% per year over the past 5 years.
Net income has grown faster than revenue (107.4% vs -0.1% per year).
Operating margin has contracted, at -34.8% in the latest year.

Financial health

The company holds more cash ($2M) than total debt ($573974).
Total debt has grown slower than revenue (-32.1% vs -0.1% per year).
Operating income covered interest expense -35.6× in the latest year.

Shareholder returns

Dividends have been paid for 2 consecutive years, consuming 57.0% of earnings.
The dividend has grown 296.0% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$9M	$6M	35.1%	-34.8%	66.0%	44.4%	—	$573974	$2M
2024	$23M	-$1M	64.9%	-0.7%	-31.8%	-10.6%	-$4M	$620088	$2M
2023	$22M	-$4M	36.9%	-18.9%	-81.1%	-21.4%	—	$2M	$1M
2022	$9M	-$7M	38.0%	-75.9%	-138.9%	-55.0%	—	$2M	$7M
2021	$11M	-$338156	47.9%	0.5%	60.5%	-3.7%	—	$3M	$3M
2020	$9M	$150955	44.5%	2.9%	-15.8%	1.5%	—	$4M	$3M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$321428	-$2M	-21.8%	-256.4%	-41.3%	-22.8%	-$1M	—	$587074
Mar '26	$1M	-$2M	5.9%	-123.7%	-27.2%	-15.9%	-$1M	$555592	$774033
Dec '25	$2M	$7M	28.8%	-65.9%	83.7%	56.2%	—	$573974	$2M
Sep '25	$3M	$434072	49.1%	-0.4%	8.4%	3.3%	—	$581812	$1M
Jun '25	$187277	$1M	-12.3%	-409.8%	22.7%	8.1%	—	$1M	—
Mar '25	$2M	-$3M	26.0%	-56.9%	-167.7%	-30.2%	—	$2M	—
Dec '24	$1M	-$9M	-24.5%	-687.8%	-198.9%	-66.3%	-$866514	$620088	$2M
Sep '24	$16M	$11M	86.3%	76.0%	89.2%	43.4%	—	$2M	$1M
Jun '24	$4M	-$2M	19.8%	-37.1%	-121.5%	-8.1%	—	$2M	$4M
Mar '24	$5M	-$1M	40.3%	-13.5%	-33.9%	-6.0%	—	$2M	$1M
Dec '23	$3M	-$3M	2.9%	-95.1%	-55.2%	-14.5%	—	$2M	$1M
Sep '23	$5M	-$2M	17.7%	-38.1%	-29.6%	-10.8%	—	$2M	$2M
Jun '23	$5M	-$911800	29.6%	-28.8%	-9.1%	-3.8%	—	$2M	$4M
Mar '23	$9M	$2M	64.5%	26.3%	17.5%	7.6%	—	$2M	$5M
Dec '22	$2M	-$1M	23.4%	-72.8%	-29.6%	-11.7%	—	$2M	$7M
Sep '22	$2M	-$2M	17.6%	-107.5%	—	-15.6%	—	$2M	$8M
Jun '22	$3M	-$2M	49.9%	-62.3%	—	-9.4%	—	$2M	$12M
Mar '22	$2M	-$2M	53.6%	-68.6%	—	-7.7%	—	$3M	$14M
Dec '21	$2M	-$741870	46.7%	-20.3%	132.7%	-8.1%	—	$3M	$3M
Sep '21	$3M	$186173	48.5%	6.1%	—	—	—	—	—

Valuation over time

How the market has priced HTCR 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.

The price-to-sales ratio has risen from 0.2× (Mar '23) to 0.4× (Sep '26).
The dividend yield has risen from 30.3% (Dec '24) to 96.3% (Sep '26).

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is HTCR growing its revenue and profit?

Over the past 5 years, HeartCore Enterprises, Inc.'s revenue has declined 0.1% per year, and net income grown 107.4% per year. These are computed facts, not advice.

How much debt does HTCR have?

As of FY2025, HeartCore Enterprises, Inc. reported $573974 of total debt against $2M of cash; operating income covered interest expense -35.6×.

What is HTCR's profit margin?

In FY2025, gross margin was 35.1%, operating margin -34.8%, and net margin 64.6%.

Where does this data come from?

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.