PETZ

MKT CAP:$10M

TDH Holdings, Inc.

Market Cap

$10M

Consumer Defensive·Packaged Foods·🇨🇳 China·NASDAQ

Consumer Def.·Packaged Foods·🇨🇳·NASDAQ

Stock Price

$1.02+$0.08 (+9.09%)

Apr 24, 2026

Company Details

TDH Holdings, Inc., together with its subsidiaries, develops, manufactures, and sells pet food products for pet owners in the People's Republic of China, Asia, Europe, and North America. It offers approximately 200 products, which include 4...

CEO

Dandan Liu

IPO Date

Sep 21, 2017

Website

www.tiandihui.com

Key Metrics TTM

Revenue

$2M

-41.0% YoY

Net Income

$3M

EPS (Diluted)

$0.37

Free Cash Flow

-$4M

Revenue / Share

$0.18

Gross Margin

-12.3%

Operating Margin

-203.8%

Net Margin

190.9%

FCF Margin

-228.1%

P/S

5.7x

P/E

3.0x

Earnings Reports

FY 2025

Apr 20, 2026

NEW

$1MEPS $0.17

Q4 2025

Apr 20, 2026

NEW

$665.6K+44.6%EPS $0.04

Q2 2025

Jun 29, 2025

$585.7K+466.4%EPS $0.13

Q4 2024

Apr 28, 2025

$460.3KEPS $0.03

Q2 2024

Jun 30, 2024

$103.4KEPS $0.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 16	$15M	$4M	$943.1K
Q2 17	$14M	$4M	$665.6K
Q4 17	$15M	$4M	-$398.3K
Q2 18	$12M	-$891.3K	-$6M
Q4 18	$12M	-$3M	-$7M
Q2 19	$8M	$690.6K	-$1M
Q4 19	$5M	-$2M	-$5M
Q2 20	$282.5K	-$70.6K	-$969.4K
Q4 20	$532.7K	$28.8K	-$956.6K
Q2 21	$134.3K	-$175.3K	-$1M
Q4 21	$957.6K	$154.7K	-$3M
Q2 22	$1M	$399.7K	-$2M
Q2 24	$103.4K	$36.5K	-$1M
Q4 24	$460.3K	$202.0K	-$784.5K
Q2 25	$585.7K	-$292.8K	-$571.6K
Q4 25	$665.6K	-$168.3K	-$1M

Valuation

Quarter	P/S	P/E
Q4 16	—	—
Q2 17	—	—
Q4 17	0.2x	9.2x
Q2 18	0.2x	—
Q4 18	0.2x	—
Q2 19	0.2x	—
Q4 19	0.3x	—
Q2 20	0.4x	—
Q4 20	0.8x	—
Q2 21	1.9x	—
Q4 21	5.4x	—
Q2 22	3.4x	—
Q2 24	3.9x	—
Q4 24	3.5x	—
Q2 25	4.0x	4.8x
Q4 25	5.7x	3.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 16	-$881.2K	-$843.2K
Q2 17	-$1M	-$1M
Q4 17	-$2M	-$2M
Q2 18	-$2M	-$2M
Q4 18	-$133.7K	-$6M
Q2 19	-$4M	-$4M
Q4 19	-$959.9K	-$1M
Q2 20	-$811.2K	-$820.4K
Q4 20	-$2M	-$2M
Q2 21	-$5M	-$5M
Q4 21	$3M	$3M
Q2 22	-$868.6K	-$868.6K
Q2 24	-$2M	-$4M
Q4 24	$2M	$2M
Q2 25	$286.3K	$278.2K
Q4 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q4 16	$38.0K
Q2 17	$28.7K
Q4 17	$199.2K
Q2 18	$59.6K
Q4 18	$6M
Q2 19	$28.8K
Q4 19	$92.8K
Q2 20	$9.2K
Q4 20	$37.8K
Q2 21	$11.0K
Q4 21	$11.0K
Q2 22	$0
Q2 24	$2M
Q4 24	$120.9K
Q2 25	$8.1K
Q4 25	$236.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 18	+18.7%	+81.0%
Q4 18	-17.6%	+37.1%
Q2 19	-42.9%	-30.8%
Q4 19	-69.1%	-37.8%
Q2 20	-97.6%	-92.7%
Q4 20	-95.6%	-92.1%
Q2 21	-98.3%	-86.0%
Q4 21	-79.2%	-59.7%
Q2 22	+413.8%	+199.0%
Q2 24	-80.6%	-20.3%
Q4 24	+242.7%	-4.2%
Q2 25	-38.8%	-69.8%
Q4 25	-54.2%	-48.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 16	$0	0.0%
Q2 17	$0	0.0%
Q4 17	$0	0.0%
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%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q2 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 16	$712.2K	$678.5K	$2M	—
Q2 17	$455.9K	$905.7K	$2M	—
Q4 17	$595.8K	$1M	$3M	—
Q2 18	$920.7K	$1M	$2M	—
Q4 18	$141.8K	$1M	$2M	—
Q2 19	$10.0K	$1M	$658.5K	—
Q4 19	—	$2M	$261.7K	—
Q2 20	—	$835.2K	$63.6K	—
Q4 20	—	$930.9K	$54.4K	—
Q2 21	—	$951.6K	$38.6K	—
Q4 21	—	$3M	$37.4K	—
Q2 22	—	$3M	$45.1K	—
Q2 24	—	$758.8K	—	—
Q4 24	—	$986.5K	—	—
Q2 25	—	—	—	$278.8K
Q4 25	—	—	—	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 18	$1M	$0	$1M
Q4 18	$893.0K	$0	$893.0K
Q2 19	$2M	$0	$2M
Q4 19	$5M	$0	$5M
Q2 20	$499.3K	$8M	$9M
Q4 20	$7M	$3M	$10M
Q2 21	$6M	$4M	$10M
Q4 21	$18M	$4M	$22M
Q2 22	$12M	$12M	$24M
Q4 22	$22M	$10M	$32M
Q2 23	$18M	$13M	$31M
Q4 23	$14M	$13M	$27M
Q2 24	$13M	$12M	$25M
Q4 24	$16M	$13M	$29M
Q2 25	$16M	$15M	$32M
Q4 25	$19M	$15M	$34M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 16	395K	0.0%	—
Q2 17	395K	0.0%	—
Q4 17	435K	+10.2%	—
Q2 18	471K	+8.2%	+19.3%
Q4 18	485K	+2.9%	+22.7%
Q2 19	609K	+25.6%	+54.1%
Q4 19	1M	+109.2%	+192.5%
Q2 20	2M	+80.0%	+386.5%
Q4 20	2M	0.0%	+373.0%
Q2 21	3M	+10.3%	+315.5%
Q4 21	3M	+20.7%	+139.8%
Q2 22	6M	+104.7%	+172.7%
Q2 24	10M	+65.1%	+350.3%
Q4 24	10M	0.0%	+308.2%
Q2 25	10M	0.0%	+238.0%
Q4 25	10M	0.0%	+65.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 16	—	—
Q2 17	—	—
Q4 17	$69.9K	213
Q2 18	$54.2K	213
Q4 18	$59.4K	204
Q2 19	$39.4K	204
Q4 19	$92.1K	50
Q2 20	$5.7K	50
Q4 20	$9.9K	54
Q2 21	$2.5K	54
Q4 21	$22.8K	42
Q2 22	$34.6K	42
Q2 24	$2.0K	51
Q4 24	$23.0K	20
Q2 25	$29.3K	20
Q4 25	$33.3K	20

Revenue / Employee