HUDI

MKT CAP:$17M

Huadi International Group Co., Ltd.

Market Cap

$17M

Basic Materials·Steel·🇨🇳 China·NASDAQ

Materials·Steel·🇨🇳·NASDAQ

Stock Price

$1.29+$0.14 (+12.17%)

Apr 21, 2026

Company Details

Huadi International Group Co., Ltd. develops, manufactures, markets, and sells industrial stainless steel seamless pipes, tubes, bars, and plates in the People's Republic of China. The company's products are used in oil and gas transmission...

CEO

Huisen Wang

IPO Date

Jan 22, 2021

Website

www.huadi.cc

Key Metrics TTM

Revenue

$137M

-14.6% YoY

Net Income

-$1M

EPS (Diluted)

-$0.08

Free Cash Flow

-$15M

Revenue / Share

$9.59

Gross Margin

10.3%

Operating Margin

-3.5%

Net Margin

-0.9%

FCF Margin

-10.8%

P/S

0.1x

P/E

—

Earnings Reports

FY 2025

Jan 30, 2026

$63M-15.3%EPS -$0.10

Q4 2025

Jan 30, 2026

$34M-9.9%EPS -$0.11

Q2 2025

Mar 30, 2025

$29M-20.8%EPS $0.02

FY 2024

Jan 30, 2025

$74MEPS $0.01

Q4 2024

Sep 30, 2024

$37M-19.8%EPS -$0.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 18	$24M	$5M	$3M
Q4 18	$36M	$8M	$5M
Q2 19	$32M	$7M	$3M
Q4 19	$33M	$8M	$5M
Q2 20	$26M	$6M	$4M
Q4 20	$34M	$4M	$1M
Q2 21	$30M	$5M	$681.6K
Q4 21	$40M	$6M	$2M
Q2 22	$37M	$6M	$690.0K
Q4 22	$40M	$5M	$2M
Q2 23	$38M	$6M	$861.8K
Q4 23	$46M	$7M	$2M
Q2 24	$37M	$5M	$165.4K
Q4 24	$37M	$3M	-$2M
Q2 25	$29M	$4M	-$650.1K
Q4 25	$34M	$3M	-$2M

Valuation

Quarter	P/S	P/E
Q2 18	—	—
Q4 18	—	—
Q2 19	—	—
Q4 19	0.1x	1.6x
Q2 20	0.1x	1.5x
Q4 20	0.1x	2.0x
Q2 21	0.1x	2.3x
Q4 21	0.1x	2.9x
Q2 22	0.1x	5.3x
Q4 22	0.1x	3.8x
Q2 23	0.1x	3.2x
Q4 23	0.1x	3.3x
Q2 24	0.1x	2.8x
Q4 24	0.1x	5.0x
Q2 25	0.1x	8.1x
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 18	$1M	$1M
Q4 18	-$210.2K	-$466.9K
Q2 19	$3M	$2M
Q4 19	-$711.7K	-$1M
Q2 20	$1M	$872.0K
Q4 20	$2M	$2M
Q2 21	$2.0K	-$650.4K
Q4 21	-$6M	-$6M
Q2 22	$10M	$10M
Q4 22	-$2M	-$2M
Q2 23	-$565.3K	-$619.2K
Q4 23	-$2M	-$2M
Q2 24	-$5M	-$6M
Q4 24	$18M	$15M
Q2 25	-$11M	-$14M
Q4 25	$939.0K	-$11M

Capital Expenditures

Quarter	CapEx
Q2 18	$271.1K
Q4 18	$256.7K
Q2 19	$596.0K
Q4 19	$316.7K
Q2 20	$378.2K
Q4 20	$286.8K
Q2 21	$652.4K
Q4 21	$265.2K
Q2 22	$181.8K
Q4 22	$24.4K
Q2 23	$53.9K
Q4 23	$103.7K
Q2 24	$81.2K
Q4 24	$3M
Q2 25	$3M
Q4 25	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	+6.7%	+5.0%
Q4 20	-7.8%	+3.8%
Q2 21	-7.0%	+0.8%
Q4 21	+20.9%	+35.9%
Q2 22	+43.9%	+63.7%
Q4 22	+17.9%	+16.7%
Q2 23	+27.0%	+27.0%
Q4 23	+14.9%	+16.4%
Q2 24	+0.8%	+2.3%
Q4 24	-6.0%	+3.0%
Q2 25	-22.6%	-19.0%
Q4 25	-27.7%	-19.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 18	$0	0.0%
Q4 18	$0	0.0%
Q2 19	$0	0.0%
Q4 19	$0	0.0%
Q2 20	$0	0.0%
Q4 20	$0	0.0%
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q2 22	$0	0.0%
Q4 22	$0	0.0%
Q2 23	$0	0.0%
Q4 23	$59.6K	0.1%
Q2 24	$0	0.0%
Q4 24	$49.0K	0.1%
Q2 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 18	$720.6K	—	—	$1M
Q4 18	$726.6K	$2M	$105.7K	—
Q2 19	$1M	—	—	$2M
Q4 19	$729.9K	$2M	$147.4K	—
Q2 20	$834.4K	—	—	$2M
Q4 20	$1M	$2M	$104.9K	—
Q2 21	$928.6K	—	—	$4M
Q4 21	$1M	—	—	$3M
Q2 22	$1M	—	—	$4M
Q4 22	$1M	—	—	$2M
Q2 23	$1M	—	—	$4M
Q4 23	$1M	—	—	$4M
Q2 24	$1M	—	—	$3M
Q4 24	$1M	—	—	$3M
Q2 25	$1M	—	—	$4M
Q4 25	$1M	$4M	$13.5K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 18	$0	$2M	$2M
Q4 18	$1M	$0	$1M
Q2 19	$198.2K	$0	$198.2K
Q4 19	$1M	$0	$1M
Q2 20	$796.4K	$0	$796.4K
Q4 20	$796.8K	$0	$796.8K
Q2 21	$20M	$0	$20M
Q4 21	$15M	$0	$15M
Q2 22	$17M	$0	$17M
Q4 22	$13M	$0	$13M
Q2 23	$20M	$0	$20M
Q4 23	$20M	$0	$20M
Q2 24	$8M	$0	$8M
Q4 24	$18M	$0	$18M
Q2 25	$9M	$0	$9M
Q4 25	$10M	$100.2K	$10M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 18	10M	—	—
Q4 18	10M	0.0%	—
Q2 19	10M	0.0%	—
Q4 19	10M	0.0%	—
Q2 20	10M	0.0%	0.0%
Q4 20	10M	0.0%	0.0%
Q2 21	11M	+10.4%	+10.4%
Q4 21	13M	+19.5%	+31.9%
Q2 22	13M	+0.0%	+31.9%
Q4 22	13M	+0.6%	+32.7%
Q2 23	14M	+5.8%	+27.0%
Q4 23	14M	+1.6%	+8.1%
Q2 24	14M	0.0%	+8.1%
Q4 24	14M	+0.1%	+7.6%
Q2 25	14M	+0.0%	+1.8%
Q4 25	14M	+0.1%	+0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 18	—	—
Q4 18	—	—
Q2 19	—	—
Q4 19	—	—
Q2 20	—	—
Q4 20	—	—
Q2 21	—	—
Q4 21	$105.7K	382
Q2 22	$96.3K	382
Q4 22	$109.9K	360
Q2 23	$105.4K	360
Q4 23	$128.1K	362
Q2 24	$102.4K	362
Q4 24	$103.3K	360
Q2 25	$81.6K	360
Q4 25	$92.6K	362

Revenue / Employee