Huadi International Group Co., Ltd. (HUDI) Income Statement
HUDI FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsHUDI revenue and net income
Where HUDI's revenue goes
FY2025Each bar shows an amount and its share of revenue. HUDI kept −2.2% of revenue as net income.
HUDI profit margins
HUDI growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −15.3% | −6.3% | +1.2% | — |
| Gross profit | −7.1% | −15.2% | −8.6% | — |
| Operating income | — | — | — | — |
| Net income | −1,115.8% | — | — | — |
| EPS (diluted) | −1,100.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HUDI quarterly EPS vs estimates
Huadi International beat the analyst EPS estimate in 0 of the last 2 quarters.
HUDI income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $62.9M | $74.3M | $84.3M | $76.4M | $70.2M | $59.1M | $65.5M | $60.4M | $49.4M |
| Cost of revenue | $56.1M | $67.0M | $72.0M | $65.2M | $58.9M | $48.5M | $50.9M | $47.1M | $39.7M |
| Gross profit | $6.8M | $7.3M | $12.4M | $11.1M | $11.3M | $10.7M | $14.6M | $13.2M | $9.7M |
| Research & development | $2.2M | $2.2M | $2.6M | $2.3M | $2.1M | $2.1M | $1.8M | $1.4M | $1.4M |
| Sales, general & admin | $7.8M | $6.8M | $7.3M | $6.3M | $6.7M | $3.9M | $4.5M | $3.3M | — |
| Total operating expenses | $9.9M | $9.0M | $9.9M | $8.2M | $8.7M | $6.2M | $6.2M | $5.0M | $4.6M |
| Operating income | −$3.1M | −$1.7M | $2.5M | $2.9M | $2.6M | $4.5M | $8.4M | $8.2M | $5.1M |
| Interest expense | — | — | $296,265 | $1.6M | $2.1M | $2.2M | $2.1M | $2.1M | $0 |
| Income before taxes | −$1.9M | −$156,215 | $3.5M | $2.1M | $2.5M | $3.6M | $6.5M | $6.6M | $11.4M |
| Income taxes | −$494,807 | −$298,610 | $220,854 | $173,017 | −$89,000 | $218,949 | $1.0M | $1.3M | $2.0M |
| Net income | −$1.4M | $137,422 | $3.3M | $1.9M | $2.5M | $3.3M | $5.4M | $5.2M | $9.2M |
| EBITDA | −$1.3M | $396,848 | $4.5M | $4.6M | $5.3M | $6.5M | $9.2M | $9.4M | $14.3M |
| EPS (diluted) | −$0.10 | $0.01 | $0.23 | $0.14 | $0.19 | $0.29 | $0.57 | $0.52 | $0.10 |
| Gross margin | 10.8% | 9.9% | 14.7% | 14.6% | 16.1% | 18.0% | 22.3% | 21.9% | 19.6% |
| Operating margin | −5.0% | −2.3% | 2.9% | 3.8% | 3.7% | 7.5% | 12.8% | 13.6% | 10.3% |
| Net margin | −2.2% | 0.2% | 3.9% | 2.5% | 3.6% | 5.6% | 8.2% | 8.6% | 18.7% |
| Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.5M | $33.5M | $14.7M | $29.4M | $14.7M | $37.2M | $18.6M | $37.1M | $18.5M | $46.4M | $23.2M | $38.0M |
| Cost of revenue | $21.6M | $30.8M | $12.6M | $25.3M | $12.6M | $34.7M | $17.3M | $32.3M | $16.1M | $39.8M | $19.9M | $32.2M |
| Gross profit | $2.9M | $2.7M | $2.0M | $4.1M | $2.0M | $2.5M | $1.3M | $4.8M | $2.4M | $6.6M | $3.3M | $5.7M |
| Research & development | $819,039 | $1.1M | $533,944 | $1.1M | $533,944 | $1.0M | $511,356 | $1.2M | $608,253 | $1.4M | $704,452 | $1.1M |
| Sales, general & admin | — | $4.1M | $1.8M | $3.7M | $1.8M | $3.4M | $1.7M | $3.4M | $1.7M | $3.6M | $1.8M | $3.7M |
| Total operating expenses | $4.3M | $5.2M | $2.2M | $4.7M | $2.2M | $4.4M | $2.2M | $4.6M | $2.3M | $5.0M | $2.3M | $4.9M |
| Operating income | −$1.4M | −$2.5M | −$207,047 | −$650,058 | −$207,047 | −$1.9M | −$886,956 | $165,431 | $97,421 | $1.6M | $802,340 | $861,827 |
| Interest expense | $126,588 | — | — | — | — | — | — | — | — | — | — | $268,260 |
| Income before taxes | −$1.3M | −$2.0M | $65,530 | $65,530 | $32,765 | −$996,742 | −$498,372 | $840,527 | $420,264 | $1.9M | $960,325 | $1.6M |
| Income taxes | −$201,535 | −$409,552 | −$85,255 | −$85,255 | $42,628 | −$323,415 | $161,708 | $24,805 | $12,403 | $79,480 | $39,740 | $141,374 |
| Net income | −$1.1M | −$1.5M | $72,953 | $145,906 | $72,953 | −$667,090 | −$333,545 | $804,512 | $402,256 | $1.8M | $910,568 | $1.4M |
| EBITDA | −$1.0M | −$1.7M | −$143,900 | $427,784 | −$143,900 | −$639,407 | −$757,464 | $1.2M | $283,747 | $2.2M | $965,679 | $2.2M |
| EPS (diluted) | — | — | −$0.01 | — | −$0.05 | — | — | — | — | — | — | — |
| Gross margin | 11.8% | 8.1% | 13.9% | 13.9% | 13.9% | 6.7% | 6.7% | 13.0% | 13.0% | 14.3% | 14.3% | 15.1% |
| Operating margin | −5.7% | −7.5% | −1.4% | −2.2% | −1.4% | −5.0% | −4.8% | 0.4% | 0.5% | 3.5% | 3.5% | 2.3% |
| Net margin | −4.5% | −4.6% | 0.5% | 0.5% | 0.5% | −1.8% | −1.8% | 2.2% | 2.2% | 3.9% | 3.9% | 3.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HUDI's financial statements (latest annual report filed January 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HUDI financial results
In fiscal year 2025 (ended September 30, 2025), Huadi International reported revenue of $62.9 million, down 15.3% from the year before. It had a net loss of $1.4 million, a net profit margin of −2.2%. Diluted earnings per share came to −$0.10. Over five years revenue grew at an average rate of 1.2% a year.
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HUDI income statement FAQ
What is Huadi International's annual revenue?
Huadi International reported total revenue of $62.9 million for fiscal year 2025, which ended on September 30, 2025. That was down 15.3% from $74.3 million the previous year.
Is Huadi International profitable?
No. Huadi International reported a net loss of $1.4 million in fiscal 2025, a net profit margin of −2.2%; its operating margin was −5.0%.
What is Huadi International's gross margin?
Huadi International's gross margin was 10.8% in fiscal 2025: for every $100 of revenue, Huadi International kept $11 after the direct cost of its products and services.
How much does Huadi International spend on research and development?
Huadi International spent $2.2 million on research and development in fiscal 2025, 3.4% of revenue.
How fast is Huadi International growing?
Revenue grew 1.2% a year on average over the last five fiscal years, from $59.1 million to $62.9 million.
What are Huadi International's earnings per share?
Huadi International earned $-0.10 per diluted share in fiscal 2025, compared with $0.01 a year earlier.
When does Huadi International's fiscal year end?
Huadi International's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on January 30, 2026.