Shengfeng Development Limited (SFWL) Income Statement
SFWL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSFWL revenue and net income
Where SFWL's revenue goes
2025Each bar shows an amount and its share of revenue. SFWL kept 2.1% of revenue as net income.
SFWL profit margins
SFWL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.6% | +15.6% | +14.8% | — |
| Gross profit | +13.0% | +8.0% | +7.8% | — |
| Operating income | +15.1% | +19.7% | +22.2% | — |
| Net income | +9.6% | +15.3% | +14.4% | — |
| EPS (diluted) | +3,000.0% | +188.9% | +13.7% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SFWL quarterly EPS vs estimates
Shengfeng Development beat the analyst EPS estimate in 2 of the last 2 quarters.
SFWL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $572.5M | $504.2M | $404.1M | $370.3M | $346.7M | $287.5M | $232.6M |
| Cost of revenue | $520.2M | $457.9M | $357.6M | $328.8M | $305.4M | $251.5M | $203.8M |
| Gross profit | $52.3M | $46.3M | $46.5M | $41.5M | $41.3M | $36.0M | $28.8M |
| Sales, general & admin | $30.2M | $31.6M | $32.6M | $31.7M | $32.8M | $29.8M | $26.8M |
| Total operating expenses | $35.4M | $31.6M | $32.6M | $31.7M | $32.8M | $29.8M | $26.3M |
| Operating income | $16.9M | $14.7M | $13.9M | $9.8M | $8.6M | $6.2M | $2.5M |
| Interest income | $255,000 | $159,000 | $126,000 | $1.3M | $1.3M | $1.3M | — |
| Interest expense | $2.7M | $2.0M | $1.8M | $2.2M | $2.3M | $2.0M | $1.3M |
| Income before taxes | $14.3M | $12.5M | $12.6M | $9.4M | $8.2M | $7.6M | $2.2M |
| Income taxes | $2.0M | $1.7M | $2.3M | $1.6M | $1.5M | $1.6M | $293,000 |
| Net income | $11.9M | $10.9M | $10.3M | $7.8M | $6.9M | $6.1M | $1.9M |
| EBITDA | $28.1M | $28.1M | $29.6M | $30.0M | $24.8M | $22.1M | $15.4M |
| EPS (diluted) | $2.17 | $0.07 | $1.87 | $0.09 | $1.29 | $1.14 | $0.35 |
| Gross margin | 9.1% | 9.2% | 11.5% | 11.2% | 11.9% | 12.5% | 12.4% |
| Operating margin | 2.9% | 2.9% | 3.4% | 2.7% | 2.5% | 2.2% | 1.1% |
| Net margin | 2.1% | 2.2% | 2.5% | 2.1% | 2.0% | 2.1% | 0.8% |
| Jun '26 | Dec '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | Sep '23 | Mar '23 | Sep '22 | Jun '22 | Dec '21 | Jun '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $311.8M | $309.0M | $263.4M | $277.0M | $227.1M | $219.2M | $185.0M | $203.8M | $101.9M | $166.5M | $182.4M | $164.3M |
| Cost of revenue | $285.0M | $280.0M | $239.4M | $251.8M | $206.0M | $195.4M | $162.2M | $180.5M | $90.2M | $148.3M | $159.9M | $145.5M |
| Gross profit | $26.8M | $29.0M | $24.1M | $25.2M | $21.1M | $23.7M | $22.8M | $23.3M | $11.6M | $18.2M | $22.5M | $18.8M |
| Sales, general & admin | — | $19.9M | $16.3M | $17.1M | $14.5M | $18.3M | $14.3M | $13.5M | $6.8M | $14.4M | $16.5M | $16.2M |
| Total operating expenses | $17.8M | $19.9M | $16.3M | $17.1M | $14.5M | $18.3M | $14.3M | $16.8M | $8.4M | $14.3M | $16.2M | $16.0M |
| Operating income | $9.0M | $9.1M | $7.8M | $8.1M | $6.6M | $5.4M | $8.5M | $6.0M | $3.0M | $3.8M | $6.0M | $2.6M |
| Interest expense | $1.3M | $1.4M | $1.3M | $1.1M | $879,000 | $793,000 | $982,000 | — | — | — | — | — |
| Income before taxes | $7.9M | $7.5M | $6.8M | $6.8M | $5.6M | $4.8M | $7.9M | $6.6M | $3.3M | $2.8M | $6.4M | $1.7M |
| Income taxes | $1.4M | $1.3M | $787,000 | $1.0M | $637,000 | $911,000 | $1.4M | $1.2M | $614,000 | $371,000 | $1.5M | $64,000 |
| Net income | $6.4M | $6.1M | $5.9M | $5.8M | $5.0M | $3.9M | $6.4M | $5.3M | $2.7M | $2.5M | $5.0M | $1.9M |
| EBITDA | $14.7M | $15.0M | $13.4M | $14.1M | $13.2M | $12.7M | $16.9M | $9.6M | $4.8M | $7.7M | $9.3M | $5.7M |
| EPS (diluted) | — | — | $0.07 | $0.07 | — | — | — | — | — | — | — | — |
| Gross margin | 8.6% | 9.4% | 9.1% | 9.1% | 9.3% | 10.8% | 12.3% | 11.4% | 11.4% | 11.0% | 12.3% | 11.5% |
| Operating margin | 2.9% | 2.9% | 3.0% | 2.9% | 2.9% | 2.5% | 4.6% | 3.0% | 3.0% | 2.3% | 3.3% | 1.6% |
| Net margin | 2.1% | 2.0% | 2.2% | 2.1% | 2.2% | 1.8% | 3.5% | 2.6% | 2.6% | 1.5% | 2.7% | 1.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SFWL's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SFWL financial results
In fiscal year 2025 (ended December 31, 2025), Shengfeng Development reported revenue of $572.5 million, up 13.6% from the year before. It had net income of $11.9 million (up 9.6%), a net profit margin of 2.1%. Diluted earnings per share came to $2.17. Over five years revenue grew at an average rate of 14.8% a year.
See the SFWL stock overview for the latest quote and news, or the SFWL chart for price history and technical indicators.
SFWL income statement FAQ
What is Shengfeng Development's annual revenue?
Shengfeng Development reported total revenue of $572.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 13.6% from $504.2 million the previous year.
Is Shengfeng Development profitable?
Yes. Shengfeng Development reported net income of $11.9 million in fiscal 2025, a net profit margin of 2.1%; its operating margin was 2.9%.
What is Shengfeng Development's gross margin?
Shengfeng Development's gross margin was 9.1% in fiscal 2025: for every $100 of revenue, Shengfeng Development kept $9 after the direct cost of its products and services.
How fast is Shengfeng Development growing?
Revenue grew 14.8% a year on average over the last five fiscal years, from $287.5 million to $572.5 million.
What are Shengfeng Development's earnings per share?
Shengfeng Development earned $2.17 per diluted share in fiscal 2025, compared with $0.07 a year earlier.
When does Shengfeng Development's fiscal year end?
Shengfeng Development's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.