NASDAQ : AEI
Alset Inc. — Financial statements
Real Estate · Real Estate - Development · United States
Last price 0.51 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 19.84M
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Financial statements
Alset Inc. (AEI) reported revenue of 4.27M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 2.85M | 2.83M | 19.61M | 20.98M | 3.84M | 19.76M |
| Other Revenue | 1.43M | 1.64M | 1.51M | 1.11M | 638.16K | 42.38K |
| Revenue | 4.27M | 4.47M | 21.12M | 22.09M | 4.48M | 19.80M |
| Cost of Revenue | 2.84M | 3.22M | 12.78M | 14.58M | 3.73M | 11.30M |
| Gross Profit | 1.43M | 1.25M | 8.33M | 7.51M | 748.45K | 8.50M |
| Selling, General & Admin | 13.62M | 15.01M | 10.83M | 9.53M | 7.84M | 23.49M |
| Operating Expenses | 13.62M | 15.01M | 10.83M | 9.53M | 7.84M | 23.49M |
| Operating Income | -12.19M | -13.76M | -2.50M | -2.02M | -7.09M | -14.99M |
| Interest Expense | -54.55K | -112.08K | -3.98K | -1.85K | -317.28K | |
| Interest & Investment Income | 2.96M | 2.97M | 666.74K | 525.87K | 67.47K | 183.64K |
| Earnings From Equity Investments | -31.11M | -32.22M | -3.23M | -24.48M | -685.53K | -52.00K |
| Currency Exchange Gain (Loss) | 11.12M | -1.93M | 3.04M | -697.29K | -547.85K | 1.36M |
| Other Non Operating Income (Expenses) | -3.19M | 2.76M | 223.81K | 1.79M | 703.57K | -50.78M |
| EBT Excluding Unusual Items | -32.42M | -42.23M | -1.92M | -24.89M | -7.55M | -64.59M |
| Merger & Restructuring Charges | -5.82K | |||||
| Gain (Loss) on Sale of Investments | -8.89M | -5.66M | -480.97K | -14.28M | -38.66M | -53.89M |
| Gain (Loss) on Sale of Assets | -5.04K | 362.06K | ||||
| Asset Writedown | -720.90K | -1.39M | -1.61M | |||
| Other Unusual Items | 339.19K | 246.00 | -22.03M | |||
| Pretax Income | -41.69M | -48.92M | -4.02M | -61.19M | -46.21M | -118.48M |
| Income Tax Expense | 413.18K | 432.09K | 150.79K | 92.35K | 534.01K | |
| Earnings From Continuing Operations | -42.10M | -49.35M | -4.17M | -61.28M | -46.21M | -119.02M |
| Net Income to Company | -42.10M | -49.35M | -4.17M | -61.28M | -46.21M | -119.02M |
| Minority Interest in Earnings | 1.45M | 1.94M | 199.93K | 2.33M | 5.72M | 15.69M |
| Net Income | -40.65M | -47.41M | -3.97M | -58.95M | -40.49M | -103.32M |
| Net Income to Common | -40.65M | -47.41M | -3.97M | -58.95M | -40.49M | -103.32M |
| Shares Outstanding (Basic) | 35.24M | 21.36M | 9.24M | 9.04M | 6.51M | 1.40M |
| Shares Outstanding (Diluted) | 35.24M | 21.36M | 9.24M | 9.04M | 6.51M | 1.40M |
| EPS (Basic) | -1.15 | -2.22 | -0.43 | -6.52 | -6.22 | -73.85 |
| EPS (Diluted) | -1.15 | -2.22 | -0.43 | -6.52 | -6.22 | -73.85 |
| Free Cash Flow | -8.84M | -6.10M | 5.05M | 7.45M | -32.46M | -16.91M |
| Free Cash Flow Per Share | -0.25 | -0.29 | 0.55 | 0.82 | -4.98 | -12.09 |
| Gross Margin | 33.50% | 27.93% | 39.46% | 34.01% | 16.71% | 42.92% |
| Operating Margin | -285.24% | -307.78% | -11.83% | -9.13% | -158.23% | -75.73% |
| Profit Margin | -951.44% | -1,060.53% | -18.78% | -266.86% | -903.73% | -521.87% |
| Free Cash Flow Margin | -206.95% | -136.51% | 23.93% | 33.73% | -724.37% | -85.42% |
| EBITDA | -11.03M | -12.56M | -1.27M | -799.78K | -6.13M | -14.83M |
| EBITDA Margin | -258.03% | -280.97% | -6.01% | -3.62% | -136.73% | -74.89% |
| D&A For EBITDA | 1.16M | 1.20M | 1.23M | 1.22M | 963.08K | 166.45K |
| EBIT | -12.19M | -13.76M | -2.50M | -2.02M | -7.09M | -14.99M |
| EBIT Margin | -285.24% | -11.83% | -9.13% | -158.23% | -75.73% | |
| Revenue as Reported | 4.27M | 4.47M | 21.12M | 22.09M | 4.48M | 19.80M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 12.33M | 25.18M | 27.24M | 26.92M | 17.83M | 56.06M |
| Short-Term Investments | 103.08K | 75.17K | 16.90M | 19.94M | 67.25M | 57.60M |
| Trading Asset Securities | 12.27M | 14.68M | 4.67M | 1.81M | 5.32M | 9.91M |
| Cash & Short-Term Investments | 24.70M | 39.94M | 48.82M | 48.68M | 90.39M | 123.57M |
| Accounts Receivable | 56.07K | 57.00K | 75.65K | 77.52K | 46.52K | 39.62K |
| Other Receivables | 1.62M | 2.35M | 6.25M | 2.58M | 446.80K | 334.79K |
| Receivables | 5.36M | 5.04M | 9.79M | 5.56M | 4.11M | 13.17M |
| Inventory | 8.60K | 6.21K | 4.91K | 5.56K | 35.02K | 47.29K |
| Prepaid Expenses | 102.39K | 182.28K | 207.48K | 253.69K | 188.07K | 1.20M |
| Restricted Cash | 107.98K | 939.94K | 967.57K | 694.52K | 4.74M | |
| Total Current Assets | 30.17M | 45.28M | 59.76M | 55.46M | 95.42M | 142.73M |
| Property, Plant & Equipment | 932.71K | 972.87K | 2.06M | 2.21M | 2.91M | 923.54K |
| Long-Term Investments | 59.99M | 58.89M | ||||
| Goodwill | 60.34K | |||||
| Other Long-Term Assets | 29.30M | 29.83M | 34.94M | 68.58M | 55.16M | 40.56M |
| Total Assets | 124.94M | 136.59M | 96.76M | 126.31M | 153.49M | 184.21M |
| Accounts Payable | 1.93M | 5.00M | 3.58M | 4.35M | 2.96M | 11.34M |
| Accrued Expenses | 25.00K | 39.53K | 27.54K | 27.54K | 25.00K | |
| Short-Term Debt | 21.79K | 21.51K | 15.79K | 16.87K | 12.67K | 68.50K |
| Current Portion of Long-Term Debt | 50.01K | 290.89K | 1.32M | 996.35K | ||
| Current Portion of Leases | 496.49K | 578.92K | 531.88K | 703.79K | 227.40K | 370.46K |
| Current Unearned Revenue | 2.10K | 21.20K | 728.34K | |||
| Other Current Liabilities | 3.02M | 31.55K | ||||
| Total Current Liabilities | 2.52M | 5.93M | 5.48M | 8.11M | 3.24M | 13.54M |
| Long-Term Debt | 55.04K | 658.80K | 93.24K | |||
| Long-Term Leases | 235.35K | 332.04K | 993.28K | 952.40K | 1.58M | 383.35K |
| Other Long-Term Liabilities | 20.46M | |||||
| Total Liabilities | 2.81M | 6.92M | 6.56M | 29.52M | 4.83M | 13.92M |
| Common Stock | 39.40K | 39.40K | 9.23K | 9.23K | 7.42K | 87.37K |
| Additional Paid-In Capital | 424.76M | 421.14M | 334.02M | 332.46M | 322.53M | 296.18M |
| Retained Earnings | -309.06M | -299.27M | -251.85M | -247.89M | -188.72M | -148.23M |
| Treasury Stock | -1.00M | -1.00M | ||||
| Comprehensive Income & Other | -256.20K | 168.80K | -849.86K | 3.61M | 3.84M | 341.65K |
| Total Common Equity | 114.48M | 121.08M | 81.33M | 88.19M | 137.65M | 148.38M |
| Minority Interest | 7.65M | 8.59M | 8.87M | 8.60M | 11.01M | 21.91M |
| Shareholders' Equity | 122.13M | 129.66M | 90.20M | 96.79M | 148.66M | 170.29M |
| Total Liabilities & Equity | 124.94M | 136.59M | 96.76M | 126.31M | 153.49M | 184.21M |
| Total Debt | 858.69K | 1.88M | 2.96M | 1.67M | 1.82M | 1.82M |
| Net Cash (Debt) | 23.84M | 38.06M | 45.86M | 47.01M | 88.57M | 121.76M |
| Net Cash Per Share | 0.68 | 1.78 | 4.97 | 5.20 | 13.60 | 87.02 |
| Filing Date Shares Outstanding | 38.90M | 38.90M | 10.74M | 9.24M | 9.24M | 5.66M |
| Total Common Shares Outstanding | 38.90M | 38.90M | 9.24M | 9.24M | 7.42M | 4.37M |
| Working Capital | 27.65M | 39.35M | 54.28M | 47.35M | 92.18M | 129.19M |
| Book Value Per Share | 2.94 | 3.11 | 8.81 | 9.55 | 18.54 | 33.97 |
| Tangible Book Value | 114.48M | 121.08M | 81.33M | 88.13M | 137.65M | 148.38M |
| Tangible Book Value Per Share | 2.94 | 3.11 | 8.81 | 9.54 | 18.54 | 33.97 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -40.65M | -47.41M | -3.97M | -58.95M | -40.49M | -103.32M |
| Depreciation & Amortization | 1.16M | 1.20M | 1.23M | 1.22M | 963.08K | 777.70K |
| Other Amortization | 450.00K | 50.87M | ||||
| Loss (Gain) From Sale of Assets | 5.04K | -362.06K | ||||
| Asset Writedown & Restructuring Costs | -669.17K | |||||
| Loss (Gain) From Sale of Investments | 8.89M | 5.66M | 480.97K | 13.77M | 39.08M | 53.89M |
| Loss (Gain) on Equity Investments | 31.11M | 32.22M | 3.23M | 24.48M | 685.53K | 52.00K |
| Stock-Based Compensation | 1.58M | 2.42M | 134.19K | |||
| Provision & Write-off of Bad Debts | 1.41M | 1.41M | 1.61M | |||
| Other Operating Activities | -5.90M | 686.79K | -2.05M | 21.97M | -5.68M | -16.68M |
| Change in Accounts Receivable | 36.13K | 8.85K | 1.87K | 217.18K | -221.87K | 849.41K |
| Change in Inventory | 4.35K | 412.00 | 336.00 | 32.15K | 13.16K | 34.99K |
| Change in Accounts Payable | -504.61K | 1.70M | -260.15K | 314.31K | -9.54M | 9.66M |
| Change in Unearned Revenue | -15.63K | -2.10K | -18.71K | -707.14K | -2.20M | |
| Change in Other Net Operating Assets | 6.62M | 7.63M | 6.97M | 5.19M | -8.90M | 3.67M |
| Operating Cash Flow | -8.72M | -5.93M | 5.16M | 7.48M | -31.86M | -16.68M |
| Capital Expenditures | -118.45K | -175.46K | -102.75K | -29.11K | -599.65K | -227.82K |
| Divestitures | -1.24M | |||||
| Sale (Purchase) of Real Estate | -678.16K | -6.82M | -25.36M | |||
| Investment in Securities | 1.62M | 4.14M | -814.16K | -756.08K | -8.33M | -16.80M |
| Other Investing Activities | -4.63M | -1.72M | 19.60M | -665.64K | 627.15K | -12.42M |
| Investing Cash Flow | -3.13M | 2.25M | 17.47M | -2.13M | -15.12M | -56.04M |
| Long-Term Debt Issued | 72.21K | 130.05K | 123.63K | 5.61M | ||
| Total Debt Issued | 77.03K | 72.21K | 130.05K | 123.63K | 5.61M | |
| Long-Term Debt Repaid | -582.12K | -446.26K | -31.50K | -279.15K | -7.67M | |
| Total Debt Repaid | -834.26K | -582.12K | -446.26K | -31.50K | -279.15K | -7.67M |
| Net Debt Issued (Repaid) | -757.23K | -509.91K | -316.21K | -31.50K | -155.52K | -2.05M |
| Issuance of Common Stock | 2.61M | 3.43M | 6.21M | 104.57M | ||
| Repurchase of Common Stock | -977.23K | -1.00M | -21.10M | |||
| Common Dividends Paid | -214.93K | |||||
| Dividends Paid | -214.93K | |||||
| Other Financing Activities | 905.84K | |||||
| Financing Cash Flow | -1.73M | 1.10M | -21.42M | 3.19M | 6.06M | 103.42M |
| Foreign Exchange Rate Adjustments | 222.38K | -314.32K | -910.84K | 830.06K | -1.36M | -1.62M |
| Net Cash Flow | -13.37M | -2.89M | 294.43K | 9.37M | -42.28M | 29.07M |
| Free Cash Flow | -8.84M | -6.10M | 5.05M | 7.45M | -32.46M | -16.91M |
| Free Cash Flow Margin | -206.95% | -136.51% | 23.93% | 33.73% | -724.37% | -85.42% |
| Free Cash Flow Per Share | -0.25 | -0.29 | 0.55 | 0.82 | -4.98 | -12.09 |
| Levered Free Cash Flow | 643.48K | 1.85M | -8.45M | 2.56M | 1.41M | 40.12M |
| Unlevered Free Cash Flow | 643.48K | 1.89M | -8.38M | 2.56M | 965.14K | -10.55M |
| Cash Interest Paid | 11.59K | 11.62K | 40.49K | 3.98K | 1.85K | 20.15K |
| Cash Income Tax Paid | 259.52K | 47.47K | 446.76K | |||
| Change in Working Capital | -5.66M | -1.74M | 4.62M | 4.98M | -26.86M | -2.41M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 19.84M | 134.43M | 9.42M | 9.51M | 17.08M | 36.07M |
| Enterprise Value | -4.01M | 106.26M | -22.37M | -59.36M | -75.64M | -71.61M |
| Last Close Price | 0.51 | 3.44 | 1.02 | 1.03 | 2.30 | 11.16 |
| PS Ratio | 4.64 | 30.07 | 0.45 | 0.43 | 3.81 | 1.82 |
| PB Ratio | 0.17 | 1.04 | 0.10 | 0.10 | 0.12 | 0.21 |
| P/TBV Ratio | 0.17 | 1.11 | 0.12 | 0.11 | 0.12 | 0.24 |
| P/FCF Ratio | 1.86 | 1.28 | ||||
| P/OCF Ratio | 1.83 | 1.27 | ||||
| EV/Sales Ratio | 23.77 | |||||
| Debt / Equity Ratio | 0.01 | 0.01 | 0.03 | 0.02 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 5.81 | |||||
| Debt / FCF Ratio | 0.58 | 0.23 | ||||
| Net Debt / Equity Ratio | -0.20 | -0.29 | -0.51 | -0.49 | -0.60 | -0.71 |
| Net Debt / EBITDA Ratio | 2.16 | 3.03 | 36.11 | 58.77 | 14.46 | 8.21 |
| Net Debt / FCF Ratio | 2.70 | 6.24 | -9.08 | -6.31 | 2.73 | 7.20 |
| Asset Turnover | 0.04 | 0.04 | 0.19 | 0.16 | 0.03 | 0.14 |
| Inventory Turnover | 308.94 | 579.07 | 2,440.83 | 718.39 | 90.68 | 164.56 |
| Quick Ratio | 10.47 | 7.14 | 10.07 | 6.33 | 28.01 | 9.16 |
| Current Ratio | 11.97 | 7.63 | 10.91 | 6.83 | 29.41 | 10.54 |
| Return on Equity (ROE) | -41.40% | -44.89% | -4.46% | -49.93% | -28.98% | -88.72% |
| Return on Assets (ROA) | -7.22% | -7.37% | -1.40% | -0.90% | -2.62% | -6.42% |
| Return on Capital Employed (ROCE) | -10.00% | -10.50% | -2.70% | -1.70% | -4.70% | -8.80% |
| Earnings Yield | -226.23% | -35.27% | -42.10% | -619.69% | -237.09% | -286.44% |
| FCF Yield | -44.58% | -4.54% | 53.64% | 78.32% | -190.04% | -46.88% |
| Buyback Yield / Dilution | -245.81% | -131.29% | -2.14% | -38.82% | -365.53% | -235.03% |