Huadi International Group Co., Ltd. (HUDI) Balance Sheet
HUDI balance sheet, FY2025
September 30, 2025 · U.S. dollars$108.4M assets = $32.6M liabilities + $75.8M equity
Both columns are drawn to the same scale: what HUDI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HUDI financial health
Descriptive bands, not a rating. Fiscal FY2025.
HUDI balance sheet trends, FY2017–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $79.2MFY2017 | $108.4MFY2025 | +4.0%/yr | |
| Total liabilities | $67.2MFY2017 | $32.6MFY2025 | −8.7%/yr | |
| Shareholders’ equity | $11.9MFY2017 | $75.5MFY2025 | +26.0%/yr | |
| Cash & short-term investments | $3.8MFY2017 | $9.7MFY2025 | +12.6%/yr | |
| Total debt | $47.9MFY2017 | $22.3MFY2025 | −9.1%/yr | |
| Net cash (debt) | −$44.2MFY2017 | −$12.6MFY2025 | +$31.5M | |
| Working capital | −$7.5MFY2017 | $46.0MFY2025 | +$53.5M | |
| Book value per share | $1.19FY2017 | $5.29FY2025 | +20.5%/yr | |
| Current ratio | 0.89FY2017 | 2.89FY2025 | +2.00 | |
| Debt / equity | 4.02FY2017 | 0.30FY2025 | −3.73 | |
| Shares outstanding | 10.0MFY2017 | 14.3MFY2025 | +4.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HUDI assets
HUDI liabilities and equity
HUDI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HUDI balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $9.7M | $18.1M | $20.2M | $13.2M | $15.4M | $796,794 | $1.1M | $1.3M | $3.8M |
| Cash & equivalents | $9.6M | $18.1M | $20.2M | $13.2M | $15.4M | $796,794 | $1.1M | $1.3M | $3.8M |
| Short-term investments | $100,164 | $0 | — | — | — | — | — | — | — |
| Receivables | $34.2M | $27.3M | $30.5M | $21.6M | $28.3M | $18.5M | $20.5M | $24.1M | $21.7M |
| Inventory | $26.3M | $23.3M | $26.7M | $24.9M | $22.7M | $20.8M | $17.8M | $22.1M | $34.2M |
| Other current assets | $0 | $8.7M | $2.9M | $4.7M | $10.7M | $7.2M | $8.5M | $9.6M | $0 |
| Total current assets | $70.3M | $77.5M | $80.2M | $64.4M | $77.1M | $47.3M | $47.9M | $57.2M | $59.7M |
| Property, plant & equipment (net) | $15.3M | $8.0M | $5.4M | $6.0M | $7.2M | $6.7M | $6.5M | $3.5M | $3.8M |
| Goodwill & intangible assets | $4.2M | $4.4M | $4.3M | $1.1M | $1.2M | $1.2M | $1.2M | $1.3M | $1.3M |
| Long-term investments | $11.7M | $13.0M | $12.5M | $12.8M | $14.2M | $13.4M | $12.8M | $13.3M | $0 |
| Other non-current assets | $6.9M | $689,209 | $590,907 | $338,729 | $549,921 | $436,583 | $414,710 | $728,078 | $14.4M |
| Total assets | $108.4M | $103.6M | $103.0M | $84.6M | $100.2M | $69.1M | $68.8M | $75.9M | $79.2M |
| Liabilities | |||||||||
| Accounts payable | $2.7M | $1.9M | $7.1M | $3.4M | $1.7M | $1.9M | $1.1M | $1.2M | $8.5M |
| Short-term debt | $14.3M | $14.6M | $6.1M | $12.4M | $35.8M | $32.7M | $35.2M | $47.3M | $45.9M |
| Deferred revenue | $1.3M | $1.6M | $3.4M | $4.4M | $4.7M | $1.5M | $1.2M | $5.5M | $2.3M |
| Total current liabilities | $24.3M | $23.8M | $22.6M | $25.7M | $48.8M | $43.3M | $47.6M | $59.3M | $67.2M |
| Long-term debt | $8.0M | $0 | $5.4M | $9.3M | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $255,344 | $1.4M | $317,680 | $0 | $42.2M | $36.1M | $37.5M | $54.0M | $0 |
| Total liabilities | $32.6M | $25.3M | $28.3M | $35.0M | $48.8M | $43.3M | $47.6M | $59.3M | $67.2M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $2,860 | $2,856 | $2,852 | $2,648 | $2,625 | $2,000 | $2,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | $6.3M | $7.7M | $6.7M | $3.8M | $2.1M | −$159,189 | −$3.5M | −$8.9M | −$14.1M |
| Accumulated other comprehensive income | $1.8M | $3.0M | $445,739 | $1.4M | $4.9M | $3.2M | $2.0M | $2.8M | $3.4M |
| Minority interest | $298,002 | $314,213 | $274,818 | $250,433 | — | — | — | — | — |
| Total shareholders' equity | $75.5M | $78.0M | $74.4M | $49.4M | $51.2M | $25.6M | $21.0M | $16.5M | $11.9M |
| Key figures | |||||||||
| Total debt | $22.3M | $14.6M | $11.5M | $21.7M | $35.8M | $32.7M | $35.2M | $47.3M | $47.9M |
| Net cash (debt) | −$12.6M | $3.5M | $8.7M | −$8.5M | −$20.4M | −$31.9M | −$34.1M | −$46.0M | −$44.2M |
| Working capital | $46.0M | $53.6M | $57.6M | $38.7M | $28.3M | $4.0M | $365,757 | −$2.1M | −$7.5M |
| Tangible book value | $71.3M | $73.6M | $70.1M | $48.3M | $50.0M | $24.4M | $19.9M | $15.2M | $10.6M |
| Book value per share | $5.29 | $5.47 | $5.26 | $3.73 | $4.23 | $1.88 | $2.10 | $1.25 | $1.19 |
| Shares outstanding | 14.3M | 14.3M | 14.1M | 13.2M | 12.1M | 13.6M | 10.0M | 13.2M | 10.0M |
| Current ratio | 2.89 | 3.25 | 3.55 | 2.51 | 1.58 | 1.09 | 1.01 | 0.96 | 0.89 |
| Quick ratio | 1.81 | 1.91 | 2.24 | 1.35 | 0.90 | 0.44 | 0.45 | 0.43 | 0.38 |
| Debt / equity | 0.30 | 0.19 | 0.15 | 0.44 | 0.70 | 1.28 | 1.67 | 2.87 | 4.02 |
| Equity / assets | 69.7% | 75.3% | 72.2% | 58.3% | 51.1% | 37.0% | 30.6% | 21.7% | 15.0% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.5M | $9.7M | $6.6M | $9.2M | $9.2M | $9.2M | $18.1M | $18.1M | $7.8M | $7.8M | $20.2M | $20.2M |
| Cash & equivalents | $9.1M | $9.6M | $6.5M | $9.2M | $9.2M | $9.2M | $18.1M | $18.1M | $7.8M | $7.8M | $20.2M | $20.2M |
| Short-term investments | $433,798 | $100,164 | $100,164 | — | — | — | $0 | — | $1.8M | — | — | — |
| Receivables | $32.2M | $34.2M | $24.8M | $26.5M | $26.5M | $25.4M | $27.3M | $26.6M | $27.9M | $27.3M | $30.5M | $30.3M |
| Inventory | $32.4M | $26.3M | $24.1M | $27.8M | $27.8M | $27.8M | $23.3M | $24.0M | $28.9M | $28.9M | $26.7M | $26.7M |
| Other current assets | $1 | $0 | $14.8M | $7.6M | $7.6M | $8.8M | $8.7M | $8.7M | $5.6M | $6.2M | $2.9M | $3.0M |
| Total current assets | $74.2M | $70.3M | $70.3M | $71.1M | $71.1M | $71.1M | $77.5M | $77.5M | $70.3M | $70.3M | $80.2M | $80.2M |
| Property, plant & equipment (net) | $24.8M | $15.3M | $15.3M | $10.5M | $10.5M | $10.5M | $8.0M | $8.0M | $5.1M | $5.1M | $5.4M | $5.4M |
| Goodwill & intangible assets | $4.3M | $4.2M | $4.2M | $4.2M | $4.2M | $4.2M | $4.4M | $4.4M | $4.3M | $4.3M | $4.3M | $4.3M |
| Long-term investments | $12.0M | $0 | $11.7M | $0 | $12.6M | $0 | $13.0M | $0 | $12.6M | $0 | $12.5M | $0 |
| Other non-current assets | $5.1M | $18.6M | $8.0M | $13.3M | $733,182 | $13.3M | $689,209 | $13.7M | $508,430 | $13.2M | $590,907 | $13.1M |
| Total assets | $120.5M | $108.4M | $109.5M | $99.1M | $99.1M | $99.1M | $103.6M | $103.6M | $92.9M | $92.9M | $103.0M | $103.0M |
| Liabilities | ||||||||||||
| Accounts payable | $2.5M | $2.7M | $2.7M | $779,848 | $779,848 | $779,848 | $1.9M | $1.9M | $1.4M | $1.4M | $7.1M | $7.1M |
| Short-term debt | $18.2M | $14.3M | — | $11.0M | $11.0M | $11.0M | $14.6M | $14.6M | $7.3M | $7.3M | $6.1M | $6.1M |
| Deferred revenue | $2.2M | $1.3M | — | $2.6M | $2.6M | $1.6M | $1.6M | — | $1.6M | $3.4M | $3.4M | — |
| Total current liabilities | $28.4M | $24.3M | $24.3M | $19.1M | $19.1M | $19.1M | $23.8M | $23.8M | $14.8M | $14.8M | $22.6M | $22.6M |
| Long-term debt | $13.7M | $0 | $8.0M | $0 | $2.8M | $0 | $0 | $0 | $1.8M | $0 | $5.4M | $0 |
| Other long-term liabilities | $1.2M | $8.3M | $1.4M | $4.1M | $1.4M | $4.1M | $1.4M | $1.4M | $300,236 | $2.1M | $317,680 | $5.7M |
| Total liabilities | $43.3M | $32.6M | $33.7M | $23.2M | $23.2M | $23.2M | $25.3M | $25.3M | $16.9M | $16.9M | $28.3M | $28.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2,860 | $2,860 | — | $2,856 | $2,856 | $2,856 | $2,856 | $2,856 | $2,852 | $2,852 | $2,852 | $2,852 |
| Retained earnings (deficit) | $5.2M | $6.3M | $6.3M | $7.8M | $7.8M | $8.8M | $7.7M | $8.6M | $8.4M | $8.4M | $6.7M | $7.6M |
| Accumulated other comprehensive income | $4.2M | $1.8M | — | $457,314 | $457,314 | −$507,066 | $3.0M | $2.0M | $995,606 | $14,348 | $445,739 | −$428,779 |
| Minority interest | $395,583 | — | $298,002 | — | $293,301 | — | — | — | — | — | — | — |
| Total shareholders' equity | $76.8M | $75.5M | $75.5M | $75.6M | $75.6M | $75.6M | $78.0M | $78.0M | $75.7M | $75.7M | $74.4M | $74.4M |
| Key figures | ||||||||||||
| Total debt | $31.9M | $22.3M | $8.0M | $13.7M | $13.7M | $13.7M | $14.6M | $14.9M | $9.1M | $9.1M | $11.5M | $11.5M |
| Net cash (debt) | −$22.4M | −$12.6M | −$1.4M | −$4.5M | −$4.5M | −$4.5M | $3.5M | $3.2M | −$1.3M | −$1.3M | $8.7M | $8.7M |
| Working capital | $45.8M | $46.0M | $46.0M | $52.0M | $52.0M | $52.0M | $53.6M | $53.6M | $55.4M | $55.4M | $57.6M | $57.6M |
| Tangible book value | $72.5M | $71.3M | $71.3M | $71.4M | $71.4M | $71.4M | $73.6M | $73.6M | $71.3M | $71.3M | $70.1M | $70.1M |
| Book value per share | $5.37 | $5.28 | $5.28 | $5.29 | $5.29 | $5.29 | $5.46 | $5.46 | $5.31 | $5.31 | $5.22 | $5.22 |
| Shares outstanding | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.3M | 14.2M |
| Current ratio | 2.61 | 2.89 | 2.89 | 3.72 | 3.72 | 3.72 | 3.25 | 3.25 | 4.73 | 4.73 | 3.55 | 3.55 |
| Quick ratio | 1.47 | 1.81 | 1.29 | 1.87 | 1.87 | 1.81 | 1.91 | 1.88 | 2.40 | 2.37 | 2.24 | 2.23 |
| Debt / equity | 0.42 | 0.30 | 0.11 | 0.18 | 0.18 | 0.18 | 0.19 | 0.19 | 0.12 | 0.12 | 0.15 | 0.15 |
| Equity / assets | 63.8% | 69.7% | 68.9% | 76.3% | 76.3% | 76.3% | 75.3% | 75.3% | 81.5% | 81.5% | 72.2% | 72.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed January 30, 2026); data from EODHD.
HUDI financial position
At the end of fiscal 2025 (September 30, 2025), Huadi International had total assets of $108.4 million (up 4.6% from a year earlier), total liabilities of $32.6 million and shareholders' equity of $75.5 million. It held $9.7 million in cash and short-term investments against $22.3 million of debt, net debt of $12.6 million. Its current ratio was 2.89. In the latest quarter (ended March 31, 2026) total assets were $120.5 million and equity $76.8 million.
Related: HUDI income statement, HUDI cash flow statement, HUDI key metrics. See the HUDI stock overview for the latest quote and news.
HUDI balance sheet FAQ
What are Huadi International's total assets?
Huadi International reported total assets of $108.4 million at the end of fiscal 2025 (September 30, 2025), compared with $103.6 million a year earlier.
How much debt does Huadi International have?
Huadi International had $22.3 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.30.
How much cash does Huadi International have?
Huadi International held $9.7 million in cash and short-term investments at the end of fiscal 2025; with $22.3 million of debt that is net debt of $12.6 million.
What is Huadi International's book value?
Huadi International's shareholders' equity (book value) was $75.5 million at the end of fiscal 2025, or $5.29 per share.
What is Huadi International's current ratio?
Huadi International had current assets of $70.3 million and current liabilities of $24.3 million, a current ratio of 2.89 (it can cover its short-term obligations).
How much goodwill does Huadi International have?
Huadi International carried $4.2 million of goodwill and intangible assets, 3.9% of total assets, at the end of fiscal 2025.