NYSEAMERICAN : LUD
Luda Technology Group Limited — Financial statements
Materials · Steel · Hong Kong
Last price 3.625 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 82.25M
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Financial statements
Luda Technology Group Limited (LUD) reported revenue of 33.54M 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 | 33.54M | 33.54M | 44.86M | 51.43M | 49.85M | 34.14M |
| Cost of Revenue | 27.62M | 27.62M | 33.46M | 40.53M | 39.57M | 27.01M |
| Gross Profit | 5.92M | 5.92M | 11.41M | 10.89M | 10.29M | 7.13M |
| Selling, General & Admin | 5.49M | 5.49M | 9.47M | 5.58M | 4.74M | 3.72M |
| Research & Development | 1.45M | 1.45M | 1.38M | 1.36M | 1.55M | 1.01M |
| Other Operating Expenses | 36.34K | 36.34K | 94.71K | 78.14K | 177.92K | |
| Operating Expenses | 6.98M | 6.98M | 10.95M | 7.02M | 6.46M | 4.73M |
| Operating Income | -1.06M | -1.06M | 455.91K | 3.87M | 3.82M | 2.41M |
| Interest Expense | -520.92K | -520.92K | -556.16K | -406.69K | -339.16K | -294.62K |
| Interest & Investment Income | 180.59K | 180.59K | ||||
| Other Non Operating Income (Expenses) | 193.96K | 193.96K | 402.11K | 13.87K | 90.09K | 19.90K |
| EBT Excluding Unusual Items | -1.21M | -1.21M | 301.86K | 3.48M | 3.57M | 2.13M |
| Gain (Loss) on Sale of Investments | 1.63M | 1.63M | -398.65K | 1.36K | -4.43K | |
| Other Unusual Items | 564.92K | 564.92K | 4.01M | |||
| Pretax Income | 991.22K | 991.22K | -96.80K | 3.48M | 3.57M | 6.14M |
| Income Tax Expense | 434.39K | 434.39K | 264.22K | 446.90K | 501.57K | 1.20M |
| Net Income | 556.83K | 556.83K | -361.02K | 3.03M | 3.07M | 4.94M |
| Net Income to Common | 556.83K | 556.83K | -361.02K | 3.03M | 3.07M | 4.94M |
| Shares Outstanding (Basic) | 22.24M | 22.24M | 20.00M | 20.00M | 20.00M | 20.00M |
| Shares Outstanding (Diluted) | 22.24M | 22.24M | 20.00M | 20.00M | 20.00M | 20.00M |
| EPS (Basic) | 0.03 | 0.03 | -0.02 | 0.15 | 0.15 | 0.25 |
| EPS (Diluted) | 0.03 | 0.03 | -0.02 | 0.15 | 0.15 | 0.25 |
| Free Cash Flow | -2.17M | -2.17M | 4.38M | 1.57M | -1.46M | 850.13K |
| Free Cash Flow Per Share | -0.10 | -0.10 | 0.22 | 0.08 | -0.07 | 0.04 |
| Gross Margin | 17.65% | 17.65% | 25.42% | 21.19% | 20.63% | 20.90% |
| Operating Margin | -3.16% | -3.16% | 1.02% | 7.53% | 7.67% | 7.05% |
| Profit Margin | 1.66% | 1.66% | -0.80% | 5.90% | 6.15% | 14.47% |
| Free Cash Flow Margin | -6.46% | -6.46% | 9.76% | 3.06% | -2.94% | 2.49% |
| EBITDA | -457.21K | -457.21K | 936.52K | 4.34M | 4.26M | 2.89M |
| EBITDA Margin | -1.36% | -1.36% | 2.09% | 8.44% | 8.54% | 8.45% |
| D&A For EBITDA | 601.86K | 601.86K | 480.61K | 470.12K | 433.38K | 478.57K |
| EBIT | -1.06M | -1.06M | 455.91K | 3.87M | 3.82M | 2.41M |
| EBIT Margin | -3.16% | -3.16% | 1.02% | 7.53% | 7.67% | 7.05% |
| Effective Tax Rate | 43.82% | 43.82% | 12.84% | 14.05% | 19.59% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.52M | 4.52M | 8.13M | 8.08M | 4.12M | 5.45M |
| Short-Term Investments | 5.73M | 5.73M | 1.39M | 277.07K | 643.22K | 84.99K |
| Cash & Short-Term Investments | 10.25M | 10.25M | 9.52M | 8.36M | 4.76M | 5.53M |
| Accounts Receivable | 15.67M | 15.67M | 15.14M | 22.32M | 22.27M | 15.24M |
| Other Receivables | 8.22M | 8.22M | 124.28K | 26.02K | 26.28K | |
| Receivables | 23.89M | 23.89M | 15.14M | 22.44M | 22.30M | 15.27M |
| Inventory | 4.70M | 4.70M | 4.87M | 5.58M | 5.59M | 4.63M |
| Prepaid Expenses | 437.97K | 437.97K | 479.61K | 28.61K | 37.15K | 62.69K |
| Restricted Cash | 78.96K | 78.96K | 200.52K | 313.24K | 161.53K | 165.61K |
| Other Current Assets | 629.20K | 629.20K | 1.64M | 2.79M | 1.00M | 292.44K |
| Total Current Assets | 39.99M | 39.99M | 31.85M | 39.51M | 33.85M | 25.95M |
| Property, Plant & Equipment | 5.46M | 5.46M | 5.12M | 4.66M | 3.47M | 3.72M |
| Other Intangible Assets | 711.16K | 711.16K | 701.15K | 741.23K | 784.00K | 871.26K |
| Long-Term Accounts Receivable | 1.83M | 1.83M | 667.46K | 932.78K | 1.03M | 463.16K |
| Long-Term Deferred Tax Assets | 622.88K | 622.88K | 552.97K | 559.98K | 352.77K | 260.39K |
| Other Long-Term Assets | 502.11K | 502.11K | 406.63K | 292.96K | 144.99K | 591.25K |
| Total Assets | 49.13M | 49.13M | 39.31M | 46.70M | 39.63M | 31.86M |
| Accounts Payable | 10.57M | 10.57M | 8.67M | 12.22M | 11.87M | 6.26M |
| Accrued Expenses | 1.93M | 1.93M | 3.76M | 2.61M | 2.73M | 3.00M |
| Short-Term Debt | 9.24M | 9.24M | 11.52M | 9.87M | 5.75M | 6.28M |
| Current Portion of Long-Term Debt | 1.66M | 1.66M | 159.10K | 1.31M | 252.14K | 215.53K |
| Current Portion of Leases | 293.80K | 293.80K | ||||
| Current Income Taxes Payable | 1.65K | 1.65K | 1.65K | 1.65K | 384.02K | 646.04K |
| Current Unearned Revenue | 128.19K | 128.19K | 221.77K | 225.53K | 223.57K | 401.18K |
| Other Current Liabilities | 715.85K | 715.85K | 1.52M | 2.51M | 1.39M | 370.61K |
| Total Current Liabilities | 24.54M | 24.54M | 25.85M | 28.75M | 22.60M | 17.17M |
| Long-Term Debt | 1.77M | 1.77M | 614.48K | 763.93K | 2.10M | 1.32M |
| Long-Term Leases | 234.84K | 234.84K | ||||
| Long-Term Deferred Tax Liabilities | 372.94K | 372.94K | 176.43K | 437.65K | 408.54K | 248.56K |
| Total Liabilities | 26.92M | 26.92M | 26.64M | 29.95M | 25.10M | 18.74M |
| Common Stock | 727.24K | 727.24K | 641.03K | 641.03K | 641.03K | 641.03K |
| Additional Paid-In Capital | 8.30M | 8.30M | ||||
| Retained Earnings | 14.18M | 14.18M | 13.63M | 17.36M | 14.58M | 11.87M |
| Comprehensive Income & Other | -997.22K | -997.22K | -1.60M | -1.26M | -691.90K | 603.03K |
| Shareholders' Equity | 22.21M | 22.21M | 12.66M | 16.75M | 14.53M | 13.12M |
| Total Liabilities & Equity | 49.13M | 49.13M | 39.31M | 46.70M | 39.63M | 31.86M |
| Total Debt | 13.20M | 13.20M | 12.29M | 11.94M | 8.10M | 7.81M |
| Net Cash (Debt) | -2.95M | -2.95M | -2.77M | -3.58M | -3.34M | -2.28M |
| Net Cash Per Share | -0.13 | -0.13 | -0.14 | -0.18 | -0.17 | -0.11 |
| Filing Date Shares Outstanding | 22.69M | 22.69M | 22.69M | 22.50M | 20.00M | 20.00M |
| Total Common Shares Outstanding | 22.69M | 22.69M | 20.00M | 20.00M | 20.00M | 20.00M |
| Working Capital | 15.46M | 15.46M | 6.00M | 10.76M | 11.25M | 8.78M |
| Book Value Per Share | 0.98 | 0.98 | 0.63 | 0.84 | 0.73 | 0.66 |
| Tangible Book Value | 21.50M | 21.50M | 11.96M | 16.01M | 13.74M | 12.24M |
| Tangible Book Value Per Share | 0.95 | 0.95 | 0.60 | 0.80 | 0.69 | 0.61 |
| Buildings | 2.77M | 2.77M | 2.65M | 2.62M | 3.15M | 3.18M |
| Machinery | 6.70M | 6.70M | 6.33M | 5.11M | 4.33M | 4.42M |
| Construction In Progress | 698.46K | 698.46K | 702.75K | 1.22M | ||
| Leasehold Improvements | 105.23K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 556.83K | 556.83K | -361.02K | 3.03M | 3.07M | 4.94M |
| Depreciation & Amortization | 601.86K | 601.86K | 480.61K | 470.12K | 433.38K | 478.57K |
| Loss (Gain) From Sale of Assets | -38.29K | -38.29K | -9.96K | 13.93K | ||
| Loss (Gain) From Sale of Investments | -1.63M | -1.63M | 398.65K | |||
| Provision & Write-off of Bad Debts | -117.44K | -117.44K | -27.14K | 714.38K | 568.98K | -158.03K |
| Other Operating Activities | -115.15K | -115.15K | 82.50K | 45.41K | 242.41K | -3.53M |
| Change in Accounts Receivable | -309.83K | -309.83K | 5.38M | -1.61M | -7.78M | -2.37M |
| Change in Inventory | 803.49K | 803.49K | 1.16M | -1.64M | -2.17M | -1.06M |
| Change in Accounts Payable | 314.32K | 314.32K | -1.93M | -44.50K | 5.93M | 2.57M |
| Change in Unearned Revenue | -95.37K | -95.37K | -2.15K | 2.00K | -177.16K | 300.95K |
| Change in Other Net Operating Assets | -1.68M | -1.68M | 284.24K | 2.35M | -1.13M | 190.25K |
| Operating Cash Flow | -1.71M | -1.71M | 5.46M | 3.33M | -1.00M | 1.37M |
| Capital Expenditures | -458.22K | -458.22K | -1.08M | -1.76M | -460.38K | -518.93K |
| Sale of Property, Plant & Equipment | 108.87K | 108.87K | 26.45K | 661.00 | 24.65K | 10.60K |
| Investment in Securities | -10.68M | -10.68M | -1.77M | -1.36K | 4.40K | 16.03K |
| Investing Cash Flow | -11.03M | -11.03M | -2.82M | -1.76M | -431.32K | -492.30K |
| Short-Term Debt Issued | 216.00K | 25.49K | 6.59K | |||
| Long-Term Debt Issued | 14.75M | 14.75M | 14.53M | 12.90M | 11.38M | 10.59M |
| Total Debt Issued | 14.75M | 14.75M | 14.75M | 12.93M | 11.38M | 10.59M |
| Short-Term Debt Repaid | -25.49K | -17.19K | -205.39K | |||
| Long-Term Debt Repaid | -14.97M | -14.97M | -13.91M | -8.94M | -10.65M | -9.59M |
| Total Debt Repaid | -14.97M | -14.97M | -13.93M | -8.96M | -10.85M | -9.59M |
| Net Debt Issued (Repaid) | -225.07K | -225.07K | 812.44K | 3.97M | 524.09K | 1.00M |
| Issuance of Common Stock | 9.61M | 9.61M | ||||
| Common Dividends Paid | -3.38M | -630.78K | -306.04K | |||
| Other Financing Activities | -565.94K | -565.94K | -20.03K | -633.89K | ||
| Financing Cash Flow | 8.82M | 8.82M | -2.59M | 2.71M | 524.09K | 696.16K |
| Foreign Exchange Rate Adjustments | 359.10K | 359.10K | -113.84K | -165.16K | -423.60K | 106.29K |
| Net Cash Flow | -3.56M | -3.56M | -62.75K | 4.12M | -1.33M | 1.68M |
| Free Cash Flow | -2.17M | -2.17M | 4.38M | 1.57M | -1.46M | 850.13K |
| Free Cash Flow Margin | -6.46% | -6.46% | 9.76% | 3.06% | -2.94% | 2.49% |
| Free Cash Flow Per Share | -0.10 | -0.10 | 0.22 | 0.08 | -0.07 | 0.04 |
| Levered Free Cash Flow | -9.09M | -9.09M | 4.77M | -209.91K | -603.61K | |
| Unlevered Free Cash Flow | -8.76M | -8.76M | 5.11M | 44.27K | -391.64K | |
| Cash Interest Paid | 473.44K | 473.44K | 530.18K | 455.46K | 339.16K | 294.62K |
| Cash Income Tax Paid | 204.46K | 204.46K | 557.35K | 954.11K | 703.03K | 331.39K |
| Change in Working Capital | -964.75K | -964.75K | 4.89M | -943.57K | -5.31M | -363.59K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 82.25M | 145.67M | ||||
| Enterprise Value | 81.63M | 141.49M | ||||
| Last Close Price | 3.62 | 6.42 | ||||
| PE Ratio | 261.61 | |||||
| PS Ratio | 2.91 | 4.34 | ||||
| PB Ratio | 4.26 | 6.56 | ||||
| P/TBV Ratio | 4.43 | 6.78 | ||||
| EV/Sales Ratio | 2.89 | 4.22 | ||||
| Debt / Equity Ratio | 0.59 | 0.59 | 0.97 | 0.71 | 0.56 | 0.60 |
| Debt / EBITDA Ratio | 13.12 | 2.75 | 1.90 | 2.71 | ||
| Debt / FCF Ratio | 2.81 | 7.58 | 9.19 | |||
| Net Debt / Equity Ratio | 0.13 | 0.13 | 0.22 | 0.21 | 0.23 | 0.17 |
| Net Debt / EBITDA Ratio | -6.45 | -6.45 | 2.95 | 0.82 | 0.78 | 0.79 |
| Net Debt / FCF Ratio | -1.36 | -1.36 | 0.63 | 2.27 | -2.28 | 2.68 |
| Asset Turnover | 0.76 | 0.76 | 1.04 | 1.19 | 1.40 | |
| Inventory Turnover | 5.77 | 5.77 | 6.41 | 7.26 | 7.74 | |
| Quick Ratio | 1.39 | 1.39 | 0.95 | 1.07 | 1.20 | 1.21 |
| Current Ratio | 1.63 | 1.63 | 1.23 | 1.37 | 1.50 | 1.51 |
| Return on Equity (ROE) | 3.19% | 3.19% | -2.46% | 19.39% | 22.19% | |
| Return on Assets (ROA) | -1.50% | -1.50% | 0.66% | 5.61% | 6.68% | |
| Return on Invested Capital (ROIC) | -2.37% | -2.93% | 2.55% | 17.67% | 19.75% | 12.57% |
| Return on Capital Employed (ROCE) | -4.30% | -4.30% | 3.40% | 21.60% | 22.40% | 16.40% |
| Earnings Yield | -3.31% | 0.38% | ||||
| FCF Yield | -2.63% | -1.49% | ||||
| Payout Ratio | 20.80% | 6.19% | ||||
| Buyback Yield / Dilution | -11.21% | -11.21% |