GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG) 10-Year Financial Performance & Capital Metrics

GDHG • • Industrial / General

Consumer CyclicalLeisureAmusement & Entertainment ParksTheme Park Operators

AboutGolden Heaven Group Holdings Ltd., an offshore holding company, engages in the development, construction, management, and operation of urban amusement parks, water parks, amusement projects, and amusement facilities in China. It operates six amusement parks, water parks, and complementary recreational facilities. The company was incorporated in 2020 and is headquartered in Nanping, the People's Republic of China.Show more

Revenue $22M -29.7%
EBITDA $4M -74.0%
Net Income -$2M -127.4%
EPS (Diluted) -1.17 -110.8%
Gross Margin 44.8% -26.3%
EBITDA Margin 16.41% -63.0%
Operating Margin -0.09% -100.3%
Net Margin -8.04% -139.0%
ROE -2.48% -121.0%
ROIC -0.02% -100.1%
Debt/Equity 0.12 +13.7%
Interest Coverage -2.59 -100.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 21.9%
✓Trading at only 1.0x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Weak momentum: RS Rating 1 (bottom 1%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-16.61%

TTM-47.03%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-148.82%

EPS CAGR

10Y-

5Y-

3Y-

TTM-1550.16%

ROCE

10Y Avg25.09%

5Y Avg25.09%

3Y Avg18.45%

Latest-0.02%

Peer Comparison

Theme Park Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PRKSUnited Parks & Resorts Inc.	2.08B	38.09	10.05	-0.07%	10.83%		11.15%
GDHGGOLDEN HEAVEN GROUP HOLDINGS LTD.	5.28M	2.15	-1.83	-29.74%	-31.5%	-11.69%		0.12
FUNSix Flags Entertainment Corporation	1.61B	15.88	-6.90	50.61%	-55.65%	-202.66%	3.26%	2.26

Profit & Loss

	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Sales/Revenue+	27.82M	38.52M	41.79M	31.79M	22.33M
Revenue Growth %	-	0.38%	0.08%	-0.24%	-0.3%
Cost of Goods Sold+	10.19M	11.69M	11.62M	12.47M	12.33M
COGS % of Revenue	0.37%	0.3%	0.28%	0.39%	0.55%
Gross Profit+	17.64M	26.83M	30.17M	19.31M	10M
Gross Margin %	0.63%	0.7%	0.72%	0.61%	0.45%
Gross Profit Growth %	-	0.52%	0.12%	-0.36%	-0.48%
Operating Expenses+	6.54M	8.11M	8.97M	8.59M	10.02M
OpEx % of Revenue	0.23%	0.21%	0.21%	0.27%	0.45%
Selling, General & Admin	6.54M	8.11M	8.97M	8.59M	10.02M
SG&A % of Revenue	0.23%	0.21%	0.21%	0.27%	0.45%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0
Operating Income+	11.1M	18.72M	21.19M	10.73M	-19.25K
Operating Margin %	0.4%	0.49%	0.51%	0.34%	-0%
Operating Income Growth %	-	0.69%	0.13%	-0.49%	-1%
EBITDA+	14.2M	22.02M	24.39M	14.09M	3.66M
EBITDA Margin %	0.51%	0.57%	0.58%	0.44%	0.16%
EBITDA Growth %	-	0.55%	0.11%	-0.42%	-0.74%
D&A (Non-Cash Add-back)	3.1M	3.3M	3.2M	3.37M	3.68M
EBIT	11.09M	18.32M	20.68M	10.8M	330.1K
Net Interest Income+	36.44K	59.74K	36.16K	68.55K	1.93K
Interest Income	36.44K	64.32K	42.32K	74.55K	9.36K
Interest Expense	0	4.58K	6.16K	6.01K	7.43K
Other Income/Expense	-15.32K	-408.04K	-519.75K	64.24K	341.92K
Pretax Income+	11.09M	18.31M	20.67M	10.79M	322.67K
Pretax Margin %	0.4%	0.48%	0.49%	0.34%	0.01%
Income Tax+	3.52M	4.73M	6.34M	4.24M	2.12M
Effective Tax Rate %	0.68%	0.74%	0.69%	0.61%	-5.57%
Net Income+	7.57M	13.58M	14.33M	6.55M	-1.8M
Net Margin %	0.27%	0.35%	0.34%	0.21%	-0.08%
Net Income Growth %	-	0.79%	0.06%	-0.54%	-1.27%
Net Income (Continuing)	7.57M	13.58M	14.33M	6.55M	-1.8M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	11.32	13.12	13.84	10.80	-1.17
EPS Growth %	-	0.16%	0.05%	-0.22%	-1.11%
EPS (Basic)	11.32	13.12	13.84	10.80	-1.17
Diluted Shares Outstanding	15.24M	15.24M	15.24M	15.24M	38.46M
Basic Shares Outstanding	15.24M	15.24M	15.24M	15.24M	38.46M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Total Current Assets+	21.74M	31.56M	24.49M	14.74M	60.62M
Cash & Short-Term Investments	17.55M	12.88M	22.45M	245.91K	19.83M
Cash Only	17.55M	12.88M	22.45M	245.91K	19.83M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	69.55K	50.17K	52.37K	57.72K	514.01K
Days Sales Outstanding	0.91	0.48	0.46	0.66	8.4
Inventory	525.8K	462.24K	461.89K	-12.54M	0
Days Inventory Outstanding	18.84	14.44	14.51	-	-
Other Current Assets	0	0	0	12.54M	0
Total Non-Current Assets+	41.6M	40.2M	48.6M	67.49M	37.94M
Property, Plant & Equipment	41.53M	40.13M	34.43M	38.47M	37.88M
Fixed Asset Turnover	0.67x	0.96x	1.21x	0.83x	0.59x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	66.96K	70.31K	14.17M	29.02M	60.79K
Total Assets+	63.34M	71.76M	73.09M	82.23M	98.55M
Asset Turnover	0.44x	0.54x	0.57x	0.39x	0.23x
Asset Growth %	-	0.13%	0.02%	0.13%	0.2%
Total Current Liabilities+	25.5M	17.78M	16.07M	14.53M	5.82M
Accounts Payable	866.49K	0	0	4.26M	0
Days Payables Outstanding	31.05	-	-	124.66	-
Short-Term Debt	0	148.03K	140.85K	139.28K	198.22K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.77M	2.65M	2.69M	2.65M	2.43M
Current Ratio	0.85x	1.78x	1.52x	1.01x	10.41x
Quick Ratio	0.83x	1.75x	1.50x	1.88x	10.41x
Cash Conversion Cycle	-11.3	-	-	-	-
Total Non-Current Liabilities+	12.91M	14.19M	7.41M	6.65M	9.02M
Long-Term Debt	0	0	0	0	0
Capital Lease Obligations	5.86M	5.72M	6.22M	5.81M	8.77M
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	7.05M	8.46M	1.19M	844.83K	248.31K
Total Liabilities	38.41M	31.96M	23.48M	21.18M	14.84M
Total Debt+	6.33M	6.3M	6.79M	6.29M	9.8M
Net Debt	-11.22M	-6.58M	-15.66M	6.04M	-10.03M
Debt / Equity	0.25x	0.16x	0.14x	0.10x	0.12x
Debt / EBITDA	0.45x	0.29x	0.28x	0.45x	2.68x
Net Debt / EBITDA	-0.79x	-0.30x	-0.64x	0.43x	-2.74x
Interest Coverage	-	4084.71x	3439.32x	1785.18x	-2.59x
Total Equity+	24.93M	39.8M	49.61M	61.05M	83.72M
Equity Growth %	-	0.6%	0.25%	0.23%	0.37%
Book Value per Share	1.64	2.61	3.25	4.01	2.18
Total Shareholders' Equity	24.93M	39.8M	49.61M	61.05M	83.72M
Common Stock	10K	10K	5K	5.17K	20.62K
Retained Earnings	22.18M	35.13M	49.1M	55.56M	53.74M
Treasury Stock	0	0	0	0	0
Accumulated OCI	356.36K	1.64M	502.44K	5.49M	1.25M
Minority Interest	0	0	0	0	0

Cash Flow

	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	13.7M	-4.96M	18.82M	-19.34M	-3.01M
Operating CF Margin %	0.49%	-0.13%	0.45%	-0.61%	-0.13%
Operating CF Growth %	-	-1.36%	4.79%	-2.03%	0.84%
Net Income	7.57M	13.58M	14.33M	6.55M	-1.8M
Depreciation & Amortization	3.1M	3.3M	3.2M	3.37M	3.68M
Stock-Based Compensation	0	0	0	0	2.28M
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	0	473.6K	521.19K	156.07K	-226.26K
Working Capital Changes	3.04M	-22.32M	771.32K	-29.42M	-6.96M
Change in Receivables	-24.28K	19.38K	-7.06K	-6.04K	-527.59K
Change in Inventory	0	0	0	0	0
Change in Payables	-401.6K	-866.49K	0	4.26M	-4.26M
Cash from Investing+	-1.77M	-859.54K	-190.11K	-7.91M	968.31K
Capital Expenditures	-1.77M	-905.21K	-275.23K	-7.91M	-75.52K
CapEx % of Revenue	0.06%	0.02%	0.01%	0.25%	0%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	0	0
Cash from Financing+	-4.29M	272.89K	-6.84M	5.9M	20.31M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	-9.86M	-461.25K	-6.85M	-292.79K	0
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	11.94M	-5.87M	18.54M	-27.25M	-3.09M
FCF Margin %	0.43%	-0.15%	0.44%	-0.86%	-0.14%
FCF Growth %	-	-1.49%	4.16%	-2.47%	0.89%
FCF per Share	0.78	-0.38	1.22	-1.79	-0.08
FCF Conversion (FCF/Net Income)	1.81x	-0.37x	1.31x	-2.95x	1.68x
Interest Paid	0	4.58K	6.16K	6.01K	7.43K
Taxes Paid	3M	5.79M	4.97M	6.3M	2.66M

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	30.35%	41.96%	32.05%	11.84%	-2.48%
Return on Invested Capital (ROIC)	60.73%	59.83%	47.33%	15.92%	-0.02%
Gross Margin	63.39%	69.66%	72.19%	60.76%	44.8%
Net Margin	27.19%	35.26%	34.29%	20.6%	-8.04%
Debt / Equity	0.25x	0.16x	0.14x	0.10x	0.12x
Interest Coverage	-	4084.71x	3439.32x	1785.18x	-2.59x
FCF Conversion	1.81x	-0.37x	1.31x	-2.95x	1.68x
Revenue Growth	-	38.43%	8.49%	-23.93%	-29.74%

Frequently Asked Questions

Growth & Financials

GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG) reported $42.2M in revenue for fiscal year 2024. This represents a 52% increase from $27.8M in 2020.

GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG) saw revenue decline by 29.7% over the past year.

GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG) reported a net loss of $13.3M for fiscal year 2024.

Dividend & Returns

GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG) has a return on equity (ROE) of -2.5%. Negative ROE indicates the company is unprofitable.

GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG) had negative free cash flow of $20.8M in fiscal year 2024, likely due to heavy capital investments.

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