Multi Ways Holdings Limited (MWG) Income Statement
MWG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMWG revenue and net income
Where MWG's revenue goes
2025Each bar shows an amount and its share of revenue. MWG kept −1.0% of revenue as net income.
MWG profit margins
MWG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +44.1% | +5.3% | +8.4% | −48.7% |
| Gross profit | +14.1% | +4.4% | +10.1% | −55.3% |
| Operating income | — | −30.9% | — | −61.5% |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MWG quarterly EPS vs estimates
Multi Ways beat the analyst EPS estimate in 1 of the last 2 quarters.
MWG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.8M | $31.1M | $36.0M | $38.4M | $33.4M | $29.9M | $5.55B | $40.11B | $37.95B | $34.63B |
| Cost of revenue | $33.7M | $21.4M | $27.6M | $28.6M | $24.0M | $23.0M | $0 | $0 | $0 | $0 |
| Gross profit | $11.1M | $9.7M | $8.4M | $9.7M | $9.4M | $6.8M | $5.55B | $40.11B | $37.95B | $34.63B |
| Research & development | — | — | — | — | — | — | — | $2.02B | $1.79B | $1.79B |
| Sales, general & admin | $8.7M | $9.5M | $9.7M | $6.4M | $5.9M | $5.4M | — | $17.63B | $17.17B | $15.88B |
| Total operating expenses | $10.3M | $11.7M | $11.7M | $8.2M | $7.6M | $6.9M | −$160.0M | $19.65B | $18.96B | $17.66B |
| Operating income | $788,000 | −$1.9M | −$3.1M | $2.4M | $1.6M | −$605,000 | $4.31B | $21.18B | $15.98B | $12.02B |
| Interest income | $108,000 | $220,000 | $57,000 | $834,000 | $19,000 | $14,000 | — | — | — | — |
| Interest expense | $1.7M | $1.5M | $1.1M | $748,000 | $716,000 | $858,000 | $4.66B | $10.09B | $5.70B | $3.32B |
| Income before taxes | −$433,000 | −$3.2M | $1.7M | $1.6M | $2.0M | $1.3M | $5.71B | $8.89B | $6.24B | $6.12B |
| Income taxes | — | −$310,000 | −$53,000 | $529,000 | $230,000 | $3,000 | −$73.0M | $2.35B | $4.17B | $2.73B |
| Net income | −$433,000 | −$2.9M | $1.8M | $978,000 | $1.8M | $1.3M | $5.79B | $6.54B | $2.07B | $3.40B |
| EBITDA | $2.5M | −$450,000 | $4.6M | $3.1M | $4.3M | $3.4M | $6.95B | $23.03B | $17.73B | $13.76B |
| EPS (diluted) | −$0.08 | −$0.90 | $0.65 | $0.39 | $0.73 | — | $3.55 | $3.76 | $1.14 | $1.80 |
| Gross margin | 24.8% | 31.3% | 23.3% | 25.4% | 28.0% | 22.9% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 1.8% | −6.2% | −8.5% | 6.2% | 4.9% | −2.0% | 77.6% | 52.8% | 42.1% | 34.7% |
| Net margin | −1.0% | −9.2% | 5.0% | 2.5% | 5.4% | 4.4% | 104.2% | 16.3% | 5.4% | 9.8% |
| Mar '26 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.2M | $20.0M | $8.5M | $17.0M | $8.5M | $14.1M | $7.0M | $21.6M | $10.8M | $14.4M | $7.2M | $18.3M |
| Cost of revenue | $11.3M | $15.0M | $5.9M | $11.8M | $5.9M | $9.5M | $4.8M | $17.6M | $8.8M | $10.1M | $5.0M | $14.4M |
| Gross profit | $2.9M | $5.0M | $2.6M | $5.2M | $2.6M | $4.5M | $2.3M | $4.1M | $2.0M | $4.3M | $2.1M | $3.9M |
| Sales, general & admin | — | $4.9M | $3.2M | $6.5M | $3.2M | $4.0M | $2.0M | $1.6M | $806,500 | $8.4M | $4.2M | $3.1M |
| Total operating expenses | $3.6M | $3.7M | $3.8M | $7.6M | $3.8M | $4.0M | $2.0M | $2.9M | $1.4M | $8.5M | $4.3M | $3.5M |
| Operating income | −$720,961 | $1.3M | −$1.2M | −$2.5M | −$1.2M | $540,000 | $270,000 | $1.6M | $784,500 | −$4.6M | −$2.3M | −$75,000 |
| Interest income | — | $792,000 | — | $926,000 | — | $565,000 | — | $497,000 | — | — | — | — |
| Interest expense | $582,196 | $709,338 | $611,626 | $711,000 | — | $561,000 | — | — | — | — | — | — |
| Income before taxes | −$1.1M | $716,136 | −$1.6M | −$3.2M | −$1.6M | $78,000 | $39,000 | $6.4M | $3.2M | −$4.7M | −$2.4M | −$84,000 |
| Income taxes | −$34,885 | $33,993 | −$155,500 | −$311,000 | −$155,500 | $1,000 | $500 | −$115,000 | $57,500 | $62,000 | $31,000 | $250,000 |
| Net income | −$1.0M | $682,143 | −$1.5M | −$2.9M | −$1.5M | $77,000 | $38,500 | $6.5M | $3.3M | −$4.7M | −$2.4M | −$384,000 |
| EBITDA | −$186,830 | $1.7M | −$1.1M | −$2.0M | −$1.1M | $963,133 | $353,000 | $2.4M | $984,500 | −$3.8M | −$2.1M | $931,999 |
| EPS (diluted) | — | — | −$0.09 | $0.00 | — | — | — | — | — | — | — | — |
| Gross margin | 20.6% | 25.1% | 30.5% | 30.5% | 30.5% | 32.2% | 32.2% | 18.9% | 18.9% | 29.8% | 29.8% | 21.3% |
| Operating margin | −5.1% | 6.4% | −14.6% | −14.6% | −14.6% | 3.8% | 3.8% | 7.2% | 7.2% | −32.3% | −32.3% | −0.4% |
| Net margin | −7.3% | 3.4% | −17.3% | −17.3% | −17.3% | 0.5% | 0.5% | 30.2% | 30.2% | −33.0% | −33.0% | −2.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MWG's financial statements (latest annual report filed May 8, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MWG financial results
In fiscal year 2025 (ended December 31, 2025), Multi Ways reported revenue of $44.8 million, up 44.1% from the year before. It had a net loss of $0.4 million, a net profit margin of −1.0%. Diluted earnings per share came to −$0.08. Over five years revenue grew at an average rate of 8.4% a year.
See the MWG stock overview for the latest quote and news, or the MWG chart for price history and technical indicators.
MWG income statement FAQ
What is Multi Ways's annual revenue?
Multi Ways reported total revenue of $44.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 44.1% from $31.1 million the previous year.
Is Multi Ways profitable?
No. Multi Ways reported a net loss of $0.4 million in fiscal 2025, a net profit margin of −1.0%; its operating margin was 1.8%.
What is Multi Ways's gross margin?
Multi Ways's gross margin was 24.8% in fiscal 2025: for every $100 of revenue, Multi Ways kept $25 after the direct cost of its products and services.
How fast is Multi Ways growing?
Revenue grew 8.4% a year on average over the last five fiscal years, from $29.9 million to $44.8 million.
What are Multi Ways's earnings per share?
Multi Ways earned $-0.08 per diluted share in fiscal 2025, compared with $-0.90 a year earlier.
When does Multi Ways's fiscal year end?
Multi Ways's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on May 8, 2026.