NASDAQ : YMAT
J-Star Holding Co., Ltd. — Financial statements
Materials · Specialty Chemicals · Taiwan
Last price 2.27 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 9.91M
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Financial statements
J-Star Holding Co., Ltd. (YMAT) reported revenue of 6.11M 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 | |
|---|---|---|---|---|---|---|
| Revenue | 6.11M | 9.93M | 17.56M | 23.78M | 39.38M | 31.33M |
| Cost of Revenue | 2.63M | 4.56M | 11.93M | 20.86M | 30.30M | 22.34M |
| Gross Profit | 3.48M | 5.37M | 5.63M | 2.92M | 9.08M | 8.99M |
| Selling, General & Admin | 6.45M | 5.86M | 3.85M | 2.99M | 7.66M | 7.08M |
| Research & Development | 504.93K | 879.39K | 677.39K | 737.36K | 1.39M | 1.66M |
| Other Operating Expenses | -121.98K | 106.11K | ||||
| Operating Expenses | 26.20M | 25.99M | 4.52M | 3.81M | 8.94M | 8.87M |
| Operating Income | -22.72M | -20.62M | 1.11M | -887.66K | 141.96K | 124.69K |
| Interest Expense | -300.88K | -373.49K | -402.93K | -337.11K | -322.76K | -225.26K |
| Interest & Investment Income | 82.84K | 145.95K | 264.61K | 336.38K | 12.25K | 2.16K |
| Currency Exchange Gain (Loss) | 723.59K | 727.62K | -71.96K | 363.27K | 479.60K | 370.18K |
| Other Non Operating Income (Expenses) | 268.39K | -46.11K | 207.57K | 437.77K | ||
| EBT Excluding Unusual Items | -21.95M | -20.17M | 1.11M | -87.35K | 311.05K | 271.76K |
| Gain (Loss) on Sale of Investments | 1.12M | |||||
| Gain (Loss) on Sale of Assets | -53.36K | -244.48K | ||||
| Pretax Income | -21.95M | -20.17M | 1.11M | 1.04M | 257.69K | 27.28K |
| Income Tax Expense | -204.24K | 5.47K | 5.51K | -383.05K | 133.38K | 160.18K |
| Net Income | -21.75M | -20.17M | 1.10M | 1.42M | 124.31K | -132.90K |
| Net Income to Common | -21.75M | -20.17M | 1.10M | 1.42M | 124.31K | -132.90K |
| Shares Outstanding (Basic) | 4.37M | 3.27M | 3.15M | 3.15M | 3.15M | 3.15M |
| Shares Outstanding (Diluted) | 4.37M | 3.27M | 3.15M | 3.15M | 3.15M | 3.15M |
| EPS (Basic) | -4.98 | -6.16 | 0.35 | 0.45 | 0.04 | -0.04 |
| EPS (Diluted) | -4.98 | -6.16 | 0.35 | 0.45 | 0.04 | -0.04 |
| Free Cash Flow | -6.03M | -3.36M | -3.08M | 6.95M | 2.83M | -1.80M |
| Free Cash Flow Per Share | -1.38 | -1.03 | -0.98 | 2.20 | 0.90 | -0.57 |
| Gross Margin | 57.00% | 54.06% | 32.06% | 12.29% | 23.07% | 28.70% |
| Operating Margin | -372.22% | -207.75% | 6.33% | -3.73% | 0.36% | 0.40% |
| Profit Margin | -356.19% | -203.23% | 6.29% | 5.97% | 0.32% | -0.42% |
| Free Cash Flow Margin | -98.83% | -33.90% | -17.55% | 29.21% | 7.19% | -5.73% |
| EBITDA | -22.49M | -20.42M | 1.26M | -619.78K | 1.19M | 1.15M |
| EBITDA Margin | -205.69% | 7.20% | -2.61% | 3.03% | 3.68% | |
| D&A For EBITDA | 232.02K | 204.67K | 151.81K | 267.88K | 1.05M | 1.03M |
| EBIT | -22.72M | -20.62M | 1.11M | -887.66K | 141.96K | 124.69K |
| EBIT Margin | -207.75% | 6.33% | -3.73% | 0.36% | 0.40% | |
| Effective Tax Rate | 0.50% | 51.76% | 587.18% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 595.01K | 97.67K | 649.11K | 559.46K | 2.95M | 2.85M |
| Cash & Short-Term Investments | 595.01K | 97.67K | 649.11K | 559.46K | 2.95M | 2.85M |
| Accounts Receivable | 5.43M | 3.58M | 6.31M | 2.29M | 4.36M | 4.35M |
| Other Receivables | 198.28K | 2.64K | 2.48M | 1.70M | 114.01K | 184.73K |
| Receivables | 5.63M | 3.58M | 8.79M | 3.99M | 4.48M | 4.53M |
| Inventory | 1.01M | 1.03M | 555.68K | 187.60K | 19.15M | 23.01M |
| Prepaid Expenses | 242.30K | 231.62K | 381.48K | 210.29K | 1.35M | 1.43M |
| Other Current Assets | 1.12M | 668.22K | 2.34M | 1.55M | 1.51M | 1.27M |
| Total Current Assets | 8.60M | 5.61M | 12.71M | 6.49M | 29.43M | 33.09M |
| Property, Plant & Equipment | 4.18M | 544.74K | 615.88K | 655.67K | 9.16M | 5.61M |
| Long-Term Investments | 1.79M | 1.79M | 21.76K | 21.76K | ||
| Other Intangible Assets | 132.96K | 162.47K | 2.57K | 11.77K | 12.61K | 14.02K |
| Long-Term Deferred Tax Assets | 615.98K | 425.10K | 433.80K | 439.36K | 399.32K | 609.05K |
| Other Long-Term Assets | 33.68K | 415.38K | 8.82M | 11.70M | 1.72M | 1.07M |
| Total Assets | 13.56M | 7.16M | 24.38M | 21.09M | 40.74M | 40.43M |
| Accounts Payable | 1.40M | 180.95K | 209.57K | 193.77K | 5.15M | 6.11M |
| Accrued Expenses | 595.13K | 928.88K | 791.18K | 510.65K | 8.48M | 10.51M |
| Short-Term Debt | 2.58M | 10.99M | 9.00M | 6.96M | 6.33M | 5.79M |
| Current Portion of Long-Term Debt | 983.86K | 624.62K | 42.48K | 59.66K | 884.49K | 1.28M |
| Current Portion of Leases | 33.45K | 82.08K | 163.78K | 105.75K | 2.11M | 400.71K |
| Current Income Taxes Payable | 9.20K | 16.41K | 1.81M | 2.11M | ||
| Current Unearned Revenue | 146.62K | 60.91K | 107.79K | 276.21K | 647.31K | 380.27K |
| Other Current Liabilities | 1.10M | 25.75K | 39.89K | 184.76K | 2.71M | 3.32M |
| Total Current Liabilities | 6.84M | 12.90M | 10.37M | 8.30M | 28.11M | 29.90M |
| Long-Term Debt | 3.94M | 1.03M | 995.29K | 920.54K | 339.14K | 1.07M |
| Long-Term Leases | 2.38M | 97.57K | ||||
| Long-Term Deferred Tax Liabilities | 5.32K | 4.19K | 10.98K | 20.41K | 7.50K | 49.47K |
| Other Long-Term Liabilities | 38.91K | |||||
| Total Liabilities | 10.78M | 13.93M | 11.38M | 9.24M | 30.84M | 31.15M |
| Common Stock | 10.92M | 8.60M | 7.88M | 7.88M | 7.88M | 6.81M |
| Additional Paid-In Capital | 18.08M | 9.32M | 7.85M | 7.72M | 7.58M | 8.53M |
| Retained Earnings | -25.91M | -24.35M | -3.24M | -4.34M | -5.76M | -5.88M |
| Comprehensive Income & Other | -310.99K | -350.29K | 507.45K | 596.36K | 198.57K | -177.75K |
| Shareholders' Equity | 2.77M | -6.78M | 13.00M | 11.85M | 9.90M | 9.27M |
| Total Liabilities & Equity | 13.56M | 7.16M | 24.38M | 21.09M | 40.74M | 40.43M |
| Total Debt | 7.54M | 12.72M | 10.20M | 8.05M | 12.04M | 8.64M |
| Net Cash (Debt) | -6.94M | -12.63M | -9.55M | -7.49M | -9.09M | -5.78M |
| Net Cash Per Share | -1.59 | -3.86 | -3.03 | -2.38 | -2.88 | -1.83 |
| Filing Date Shares Outstanding | 4.37M | 4.01M | 3.15M | 3.15M | 3.15M | 3.15M |
| Total Common Shares Outstanding | 4.37M | 3.44M | 3.15M | 3.15M | 3.15M | 3.15M |
| Working Capital | 1.76M | -7.29M | 2.34M | -1.80M | 1.33M | 3.19M |
| Book Value Per Share | 0.63 | -1.97 | 4.12 | 3.76 | 3.14 | 2.94 |
| Tangible Book Value | 2.64M | -6.94M | 13.00M | 11.84M | 9.89M | 9.26M |
| Tangible Book Value Per Share | 0.60 | -2.02 | 4.12 | 3.76 | 3.14 | 2.94 |
| Machinery | 1.06M | 1.31M | 1.12M | 1.12M | 6.29M | 6.36M |
| Construction In Progress | 341.83K | 82.33K | ||||
| Leasehold Improvements | 268.43K | 268.43K | 256.80K | 270.50K | 496.30K | 547.79K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -21.75M | -20.17M | 1.10M | 1.42M | 124.31K | -132.90K |
| Depreciation & Amortization | 354.33K | 389.49K | 354.95K | 986.52K | 2.96M | 1.36M |
| Loss (Gain) From Sale of Assets | 14.82K | 53.36K | 244.48K | |||
| Stock-Based Compensation | 1.16M | 87.81K | 131.71K | 131.71K | 131.71K | 131.71K |
| Provision & Write-off of Bad Debts | 19.25M | 19.25M | -8.37K | 81.84K | 9.94K | 20.48K |
| Other Operating Activities | -185.57K | 23.43K | 16.82K | -441.38K | -8.25K | 38.08K |
| Change in Accounts Receivable | 2.20M | -2.63M | -4.01M | 1.70M | -22.93K | 733.09K |
| Change in Inventory | -204.01K | -494.20K | -379.40K | 363.97K | 3.51M | -11.31M |
| Change in Accounts Payable | -4.38M | -28.61K | 15.80K | 193.77K | -963.85K | 2.36M |
| Change in Unearned Revenue | -46.96K | -46.88K | -168.42K | -367.31K | 267.04K | -221.08K |
| Change in Other Net Operating Assets | 1.00M | 469.09K | -117.52K | 2.97M | -2.02M | 6.24M |
| Operating Cash Flow | -2.59M | -3.16M | -3.06M | 7.04M | 4.04M | -539.22K |
| Capital Expenditures | -3.45M | -205.65K | -25.23K | -93.51K | -1.21M | -1.26M |
| Sale of Property, Plant & Equipment | 3.94K | |||||
| Divestitures | 1.36M | 1.74M | ||||
| Sale (Purchase) of Intangibles | -160.03K | -180.80K | -6.94K | 1.08M | -15.73K | -22.50K |
| Investment in Securities | -3.77M | -3.77M | -2.81M | -21.76K | ||
| Other Investing Activities | 3.14M | 637.17K | 480.10K | -8.49M | -794.41K | 404.45K |
| Investing Cash Flow | -4.24M | -3.52M | 1.81M | -8.57M | -2.02M | -895.93K |
| Short-Term Debt Issued | 8.25M | 2.03M | 636.03K | 8.97M | 11.46M | |
| Long-Term Debt Issued | 1.07M | 482.28K | 642.47K | 211.62K | 2.42M | |
| Total Debt Issued | 3.81M | 9.32M | 2.52M | 1.28M | 9.18M | 13.87M |
| Short-Term Debt Repaid | -5.87M | -7.88M | -8.51M | |||
| Long-Term Debt Repaid | -591.35K | -626.38K | -915.56K | -3.25M | -1.74M | |
| Lease Payments | -126.27K | -180.33K | -205.32K | -206.15K | -2.02M | -973.80K |
| Total Debt Repaid | -1.23M | -6.46M | -626.38K | -915.56K | -11.13M | -10.24M |
| Net Debt Issued (Repaid) | 2.58M | 2.86M | 1.89M | 362.94K | -1.95M | 3.63M |
| Issuance of Common Stock | 4.89M | 4.89M | ||||
| Other Financing Activities | -1.02M | -1.16M | -480.25K | -1.14M | -79.47K | -709.59K |
| Financing Cash Flow | 6.44M | 6.59M | 1.41M | -780.44K | -2.03M | 2.92M |
| Foreign Exchange Rate Adjustments | 70.38K | -457.98K | -74.17K | -76.42K | 104.43K | 29.46K |
| Net Cash Flow | -314.98K | -551.44K | 89.64K | -2.39M | 98.29K | 1.51M |
| Free Cash Flow | -6.03M | -3.36M | -3.08M | 6.95M | 2.83M | -1.80M |
| Free Cash Flow Margin | -98.83% | -33.90% | -17.55% | 29.21% | 7.19% | -5.73% |
| Free Cash Flow Per Share | -1.38 | -1.03 | -0.98 | 2.20 | 0.90 | -0.57 |
| Levered Free Cash Flow | -5.95M | -6.44M | -5.23M | 4.26M | 1.87M | -1.58M |
| Unlevered Free Cash Flow | -5.76M | -6.21M | -4.98M | 4.47M | 2.07M | -1.44M |
| Free Cash Flow After Leases | -6.16M | -3.55M | -3.29M | 6.74M | 807.18K | -2.77M |
| Cash Interest Paid | 297.19K | 369.79K | 402.93K | 808.68K | 317.39K | 253.12K |
| Cash Income Tax Paid | 5.25K | 5.25K | 15.00 | 20.76K | 147.00K | 94.24K |
| Change in Working Capital | -1.43M | -2.73M | -4.66M | 4.86M | 768.11K | -2.20M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.42M | 8.02M | ||||
| Enterprise Value | 14.37M | 22.05M | ||||
| Last Close Price | 1.70 | 2.33 | ||||
| PS Ratio | 1.22 | 0.81 | ||||
| PB Ratio | 2.68 | -1.18 | ||||
| EV/Sales Ratio | 2.35 | 2.22 | ||||
| Debt / Equity Ratio | 2.72 | -1.88 | 0.79 | 0.68 | 1.22 | 0.93 |
| Debt / EBITDA Ratio | 6.95 | 81.44 | 3.88 | 5.82 | ||
| Debt / FCF Ratio | 1.16 | 4.25 | ||||
| Net Debt / Equity Ratio | 2.50 | -1.86 | 0.73 | 0.63 | 0.92 | 0.62 |
| Net Debt / EBITDA Ratio | -0.31 | -0.62 | 7.56 | -12.09 | 7.61 | 5.02 |
| Net Debt / FCF Ratio | -1.15 | -3.75 | -3.10 | 1.08 | 3.21 | -3.22 |
| Asset Turnover | 0.26 | 0.63 | 0.77 | 0.77 | 0.97 | 0.91 |
| Inventory Turnover | 2.85 | 5.75 | 32.11 | 2.16 | 1.44 | 1.29 |
| Quick Ratio | 0.91 | 0.28 | 0.91 | 0.55 | 0.26 | 0.25 |
| Current Ratio | 1.26 | 0.43 | 1.23 | 0.78 | 1.05 | 1.11 |
| Return on Equity (ROE) | -275.90% | -648.50% | 8.89% | 13.04% | 1.30% | -1.44% |
| Return on Assets (ROA) | -59.35% | -81.75% | 3.06% | -1.79% | 0.22% | 0.23% |
| Return on Invested Capital (ROIC) | -233.88% | -245.42% | 5.28% | -4.63% | 0.40% | -4.34% |
| Return on Capital Employed (ROCE) | -338.20% | 358.90% | 7.90% | -6.90% | 1.10% | 1.20% |
| Earnings Yield | -292.99% | -251.69% | ||||
| FCF Yield | -81.29% | -41.98% | ||||
| Buyback Yield / Dilution | 53.84% | -3.82% | -9.46% |