Ebang International Holdings Inc. (EBON) AI Stock Analysis
EBON AI stock analysis summary
AI ResearchEbang International Holdings Inc. (EBON) develops ASIC chips, manufactures Bitcoin mining machines, and provides telecommunications access devices. While FY2025 revenue rose 11.4% to $6.5M, the business recorded net income of -$14.1M and trailing twelve-month operating margin of -260.5%. The company holds a large cash cushion, reporting net cash of $195.5M as of June 30, 2026.
- Market cap
- $12.0M
- Revenue (TTM)
- $6.9M
- P/E
- —
- 1Y return
- -58.7% S&P 500 16.8%
- Avg. target
- —
Bull case
- Ebang held $196.7M in cash and short-term investments as of June 30, 2026, providing substantial liquidity relative to its $12.0M market cap.
- Debt obligations are minimal, with total debt of $1.2M and a low debt-to-equity ratio of 0.01.
- Revenue expanded 11.4% in FY2025 to $6.5M and saw 9.5% year-over-year quarterly growth in the period ended June 30, 2026.
Bear case
- The business remains unprofitable, generating net income of -$14.1M in FY2025 and an operating margin of -260.5% over the trailing twelve months.
- Operations continue to burn capital, with free cash flow of -$13.5M and operating cash flow of -$9.0M in FY2025.
- Long-term share performance has been weak, with a 1-year return of -58.7% and a 5-year return of -96.8%.
What Ebang International does
Ebang International Holdings Inc. researches, designs, and develops application-specific integrated circuit (ASIC) chips and manufactures Bitcoin mining machines under the Ebit brand. Operating across China, the United States, Hong Kong, and internationally, it provides mining machine hosting and maintenance services while developing a proprietary cryptocurrency exchange platform. The company also produces fiber-optic communication access devices, such as multiprotocol label switching network devices and wavelength-division multiplexing devices, as well as enterprise convergent terminals including gigabit passive optical network and industrial IoT access devices under the EBANG brand. Additionally, it offers foreign exchange trading, digital currency transfer services, and virtual currency dealing.
Growth and profitability
Ebang experienced significant revenue contraction from FY2021, when revenue reached $51.5M, to FY2023, when revenue dropped 85.0% to $4.9M. Growth resumed modestly in FY2024 with a 20.9% gain to $5.9M, followed by an 11.4% increase to $6.5M in FY2025. Over the 5-year period from FY2020 to FY2025, revenue posted a CAGR of -19.2%. Profitability remains deeply negative; FY2025 operating margin was -349.3% and net income was -$14.1M. For the trailing twelve months ended June 30, 2026, revenue stood at $6.9M with a quarterly year-over-year revenue increase of 9.5%, though profit margin was -181.5% and EPS was -$1.98.
Balance sheet and cash flow
As of June 30, 2026, Ebang held $196.7M in cash and short-term investments against total debt of $1.2M, resulting in net cash of $195.5M. Total assets were $247.9M and shareholders' equity was $241.3M. The company maintains strong liquidity ratios, including a current ratio of 28.65 and a debt-to-equity ratio of 0.01. Free cash flow was negative at -$13.5M in FY2025, with operating cash flow at -$9.0M and capital expenditures of $4.5M. Its share count declined 96.6% over the 5-year period.
Valuation and performance
At a last close of $1.91 on October 16, 2026, Ebang had a market capitalization of $12.0M and an enterprise value of -$182.9M due to its net cash holdings. The stock traded at a price-to-sales ratio of 1.7x and a price-to-book ratio of 0.1x. Its price-to-sales multiple is below the 2.8x median of its US-listed Technology peers, while its EV-to-EBITDA ratio of 52.4x is higher than the peer median of 16.6x. Over the past year, EBON shares dropped 58.7%, lagging the S&P 500 return of 16.8%. Over 5 years, the stock fell 96.8% compared to an 83.0% gain for the S&P 500.
What analysts expect
There are no published Wall Street consensus ratings, analyst price targets, or forward revenue estimates available for Ebang International Holdings Inc. Across its past reporting periods, the company recorded 0 EPS beats over the last 4 quarters.
Key risks and what to watch
- Operating losses remain elevated, reflected in an FY2025 operating margin of -349.3%.
- Cash burn poses ongoing operational risk after free cash flow finished at -$13.5M in FY2025.
- Share price volatility is high, with a beta of 2.97 and a 52-week trading range spanning from $1.61 to $4.84.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this EBON AI stock analysis
This page is an AI-written research summary of Ebang International Holdings Inc. (EBON). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: EBON income statement, EBON balance sheet, EBON key metrics, EBON chart. See the EBON stock overview for the latest quote and news.
EBON AI stock analysis FAQ
What is Ebang's net cash position?
As of June 30, 2026, Ebang held $196.7M in cash and short-term investments and $1.2M in total debt, giving it a net cash balance of $195.5M.
Is Ebang profitable?
No, Ebang is currently unprofitable. For FY2025, it reported net income of -$14.1M, and its trailing twelve-month profit margin stood at -181.5%.
What are analysts forecasting for EBON stock?
There are currently no published consensus analyst ratings or price targets for EBON, and the company recorded 0 EPS beats over the last 4 quarters.
Does Ebang pay a dividend?
No, Ebang does not pay a dividend.