Lichen International Limited (LICN) 10-Year Financial Performance & Capital Metrics

LICN • • Industrial / General

IndustrialsBusiness ServicesProfessional & Technical ServicesConsulting & Advisory Services

AboutLichen International Ltd. engages in providing financial and taxation solutions. It also offers educational support, and software and maintenance services. The company was founded by Li Ya on April 13, 2016 and is headquartered in Jinjiang, China.Show more

Revenue $41M +4.3%
EBITDA -$2M -112.9%
Net Income -$6M -173.6%
EPS (Diluted) -0.41 -100.6%
Gross Margin 61.9% +1.2%
EBITDA Margin -4.04% -112.3%
Operating Margin -10.97% -135.6%
Net Margin -14.8% -170.6%
ROE -8.96% -155.1%
ROIC -8.07% -123.9%
Debt/Equity 0.00 -61.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Share count reduced 43.9% through buybacks
✓Healthy 5Y average net margin of 15.0%
✓Trading at only 0.6x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 13 (bottom 13%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y5.59%

3Y6.54%

TTM18.69%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-166.71%

EPS CAGR

10Y-

5Y-

3Y-

TTM-6035.76%

ROCE

10Y Avg46.68%

5Y Avg22.75%

3Y Avg14.83%

Latest-6.64%

Peer Comparison

Consulting & Advisory Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHLDResolute Holdings Management, Inc.	1.93B	226.37	69.02	7.67%	32.04%	343.07%	7.44%
CBZCBIZ, Inc.	2.8B	51.51	66.04	13.97%	3.89%	5.56%	3.95%	1.03
LZLegalZoom.com, Inc.	1.63B	9.22	57.63	3.2%	3.05%	11.01%	6.11%	0.08
TRIThomson Reuters Corporation	55.53B	124.84	25.53	6.83%	23.82%	14.95%	3.17%	0.26
BLMZHarrison Global Holdings Inc.	29.3K	0.02	-0.00	71.48%	-13.6%	-16.51%		0.08
SGRPSPAR Group, Inc.	20.12M	0.84	-6.46	-5.48%	-14.66%	-129.98%		0.78
LICNLichen International Limited	51.57M	3.18	-7.76	4.32%	-10.7%	-13.25%		0.00
ZGMZenta Group Company Limited Ordinary Shares	32.83M	2.78		135.19%	39.37%	71.65%		0.00

Profit & Loss

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.27M	14.76M	20.78M	25.58M	31.6M	30.67M	34.3M	33.8M	39.76M	41.48M
Revenue Growth %	-	0.59%	0.41%	0.23%	0.24%	-0.03%	0.12%	-0.01%	0.18%	0.04%
Cost of Goods Sold+	3.07M	4.23M	5.61M	7.35M	12.26M	11.83M	13.82M	13.61M	15.44M	15.8M
COGS % of Revenue	0.33%	0.29%	0.27%	0.29%	0.39%	0.39%	0.4%	0.4%	0.39%	0.38%
Gross Profit+	6.19M	10.53M	15.17M	18.24M	19.34M	18.84M	20.48M	20.19M	24.32M	25.67M
Gross Margin %	0.67%	0.71%	0.73%	0.71%	0.61%	0.61%	0.6%	0.6%	0.61%	0.62%
Gross Profit Growth %	-	0.7%	0.44%	0.2%	0.06%	-0.03%	0.09%	-0.01%	0.2%	0.06%
Operating Expenses+	3.74M	5.14M	6.55M	8.93M	9.62M	10.05M	9.18M	9.54M	12.06M	30.23M
OpEx % of Revenue	0.4%	0.35%	0.31%	0.35%	0.3%	0.33%	0.27%	0.28%	0.3%	0.73%
Selling, General & Admin	3.35M	4.74M	6.15M	8.31M	9.62M	10.05M	9.18M	9.54M	12.06M	30.23M
SG&A % of Revenue	0.36%	0.32%	0.3%	0.32%	0.3%	0.33%	0.27%	0.28%	0.3%	0.73%
Research & Development	389.34K	396.65K	397.38K	620.13K	0	930K	1.08M	1.06M	1.19M	1.38M
R&D % of Revenue	0.04%	0.03%	0.02%	0.02%	-	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	0	0	0	-930K	-1.08M	-1.06M	-1.19M	-1.38M
Operating Income+	2.46M	5.39M	8.63M	9.3M	9.73M	8.79M	11.3M	10.65M	12.26M	-4.55M
Operating Margin %	0.27%	0.37%	0.42%	0.36%	0.31%	0.29%	0.33%	0.31%	0.31%	-0.11%
Operating Income Growth %	-	1.19%	0.6%	0.08%	0.05%	-0.1%	0.29%	-0.06%	0.15%	-1.37%
EBITDA+	2.55M	5.59M	8.93M	9.76M	11.92M	9.59M	13.75M	11.35M	13.01M	-1.68M
EBITDA Margin %	0.28%	0.38%	0.43%	0.38%	0.38%	0.31%	0.4%	0.34%	0.33%	-0.04%
EBITDA Growth %	-	1.19%	0.6%	0.09%	0.22%	-0.2%	0.43%	-0.17%	0.15%	-1.13%
D&A (Non-Cash Add-back)	93.48K	202.06K	305.26K	457.22K	2.19M	806K	2.45M	701K	753K	2.88M
EBIT	2.46M	5.42M	8.65M	9.36M	9.78M	8.79M	11.3M	10.65M	12.26M	-4.55M
Net Interest Income+	0	0	0	0	0	103K	28K	60K	38K	163K
Interest Income	6.49K	11.61K	17.76K	31.52K	49K	103K	28K	60K	38K	163K
Interest Expense	0	0	0	0	49K	0	0	0	0	0
Other Income/Expense	6.49K	28.96K	23.93K	59.18K	5K	209K	216K	94K	-671K	379K
Pretax Income+	2.46M	5.42M	8.65M	9.36M	9.73M	9M	11.51M	10.74M	11.59M	-4.17M
Pretax Margin %	0.27%	0.37%	0.42%	0.37%	0.31%	0.29%	0.34%	0.32%	0.29%	-0.1%
Income Tax+	641.71K	1.46M	2.42M	2.86M	2.66M	2.59M	3.05M	2.92M	3.25M	1.95M
Effective Tax Rate %	0.74%	0.73%	0.67%	0.69%	0.73%	0.71%	0.73%	0.73%	0.72%	1.47%
Net Income+	1.82M	3.96M	5.82M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.14M
Net Margin %	0.2%	0.27%	0.28%	0.25%	0.22%	0.21%	0.25%	0.23%	0.21%	-0.15%
Net Income Growth %	-	1.17%	0.47%	0.12%	0.09%	-0.09%	0.32%	-0.08%	0.07%	-1.74%
Net Income (Continuing)	1.82M	3.96M	6.23M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.12M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-806	-4.62K	0	0	0	0	0	0	0	2.38M
EPS (Diluted)+	0.06	0.14	0.20	0.23	0.25	0.22	0.29	69.49	63.96	-0.41
EPS Growth %	-	1.22%	0.43%	0.15%	0.09%	-0.12%	0.32%	238.62%	-0.08%	-1.01%
EPS (Basic)	0.06	0.14	0.20	0.23	0.25	0.22	0.29	69.49	63.96	-0.41
Diluted Shares Outstanding	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	22.5M	26.51M	14.87M
Basic Shares Outstanding	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	22.5M	26.51M	14.87M
Dividend Payout Ratio	-	-	0.52%	-	1.03%	0.68%	-	-	-	-

Balance Sheet

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.16M	10.7M	12.62M	10.84M	7.42M	11.65M	23.89M	27.27M	40.13M	34.01M
Cash & Short-Term Investments	665.05K	1.72M	4.62M	5.01M	5.39M	8.66M	16.84M	22.6M	25.86M	26.71M
Cash Only	665.05K	1.72M	4.62M	5.01M	5.39M	8.66M	16.84M	22.6M	25.86M	26.71M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3.43M	4.24M	2.47M	2.39M	1.88M	2.83M	4.36M	3.54M	4.46M	7.09M
Days Sales Outstanding	134.96	104.94	43.39	34.06	21.72	33.72	46.41	38.28	40.97	62.43
Inventory	36.91K	49.13K	34.25K	38.7K	33K	23K	150K	127K	87K	67K
Days Inventory Outstanding	4.38	4.24	2.23	1.92	0.98	0.71	3.96	3.41	2.06	1.55
Other Current Assets	2	4.62M	5.47M	3.38M	118K	48K	2.24M	46K	5.72M	74K
Total Non-Current Assets+	895.71K	779.23K	2.11M	11.01M	21.37M	21.7M	19.05M	19.26M	25.41M	45.83M
Property, Plant & Equipment	374.6K	387.77K	1.19M	10.26M	15.46M	15.77M	14.94M	13.5M	14.76M	13.75M
Fixed Asset Turnover	24.74x	38.07x	17.53x	2.49x	2.04x	1.94x	2.30x	2.50x	2.69x	3.02x
Goodwill	0	0	0	0	0	0	0	0	0	4.45M
Intangible Assets	521.12K	0	0	0	5.51M	5.59M	3.87M	4.52M	6.03M	11.05M
Long-Term Investments	0	0	0	0	0	0	0	0	0	145K
Other Non-Current Assets	0	391.46K	923.66K	743.55K	401K	337K	250K	1.24M	4.63M	16.43M
Total Assets+	5.05M	11.48M	14.73M	21.85M	28.79M	33.35M	42.94M	46.52M	65.55M	79.84M
Asset Turnover	1.83x	1.29x	1.41x	1.17x	1.10x	0.92x	0.80x	0.73x	0.61x	0.52x
Asset Growth %	-	1.27%	0.28%	0.48%	0.32%	0.16%	0.29%	0.08%	0.41%	0.22%
Total Current Liabilities+	1.31M	3.09M	3.82M	3.28M	5.07M	5.71M	6.11M	5.23M	4.09M	4.27M
Accounts Payable	62.06K	42.35K	108.35K	46.38K	85K	95K	123K	161K	61K	55K
Days Payables Outstanding	7.37	3.65	7.05	2.3	2.53	2.93	3.25	4.32	1.44	1.27
Short-Term Debt	0	0	0	0	315K	337K	345K	88K	0	0
Deferred Revenue (Current)	0	0	0	0	1000K	1000K	1000K	1000K	1000K	696K
Other Current Liabilities	1.25M	3.05M	3.72M	3.23M	3.41M	3.57M	3.77M	3.75M	1.68M	150K
Current Ratio	3.17x	3.46x	3.30x	3.31x	1.47x	2.04x	3.91x	5.21x	9.81x	7.96x
Quick Ratio	3.14x	3.45x	3.29x	3.30x	1.46x	2.04x	3.88x	5.19x	9.79x	7.95x
Cash Conversion Cycle	131.98	105.53	38.57	33.68	20.18	31.5	47.13	37.36	41.59	62.7
Total Non-Current Liabilities+	0	0	0	0	0	0	1.74M	184K	34K	5K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	184K	34K	5K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	1.31M	3.09M	3.82M	3.28M	5.07M	5.71M	6.11M	5.42M	4.13M	4.28M
Total Debt+	0	0	0	0	315K	337K	345K	272K	129K	61K
Net Debt	-665.05K	-1.72M	-4.62M	-5.01M	-5.08M	-8.33M	-16.5M	-22.33M	-25.73M	-26.65M
Debt / Equity	-	-	-	-	0.01x	0.01x	0.01x	0.01x	0.00x	0.00x
Debt / EBITDA	-	-	-	-	0.03x	0.04x	0.03x	0.02x	0.01x	-
Net Debt / EBITDA	-0.26x	-0.31x	-0.52x	-0.51x	-0.43x	-0.87x	-1.20x	-1.97x	-1.98x	-
Interest Coverage	-	-	-	-	198.53x	-	-	-	-	-
Total Equity+	3.74M	8.39M	10.9M	18.57M	23.73M	27.64M	36.83M	41.11M	61.42M	75.56M
Equity Growth %	-	1.24%	0.3%	0.7%	0.28%	0.17%	0.33%	0.12%	0.49%	0.23%
Book Value per Share	0.13	0.29	0.38	0.65	0.83	0.96	1.28	1.83	2.32	5.08
Total Shareholders' Equity	3.74M	8.4M	10.9M	18.57M	23.73M	27.64M	36.83M	41.11M	61.42M	73.18M
Common Stock	0	0	144	154	1K	1K	1K	1K	1K	4K
Retained Earnings	2.96M	6.25M	7.42M	14.67M	22.49M	24.55M	33.01M	40.83M	48.22M	42.08M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	782.08K	2.15M	2.14M	2.47M	-256K	1.6M	2.33M	-1.21M	-1.7M	-2.26M
Minority Interest	-806	-4.62K	0	0	0	0	0	0	0	2.38M

Cash Flow

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.26M	3.72M	8.8M	6.36M	13.57M	8.35M	7.3M	10.77M	557K	-5.57M
Operating CF Margin %	0.14%	0.25%	0.42%	0.25%	0.43%	0.27%	0.21%	0.32%	0.01%	-0.13%
Operating CF Growth %	-	1.95%	1.37%	-0.28%	1.13%	-0.38%	-0.13%	0.47%	-0.95%	-11%
Net Income	1.82M	3.96M	5.82M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.12M
Depreciation & Amortization	93.48K	202.06K	305.26K	457.22K	2.19M	2.16M	2.45M	2.68M	2.92M	2.88M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	3.41M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-170.57K	2.31M	526.98K	-604.74K	-5K	87K	63K	50K	72K	109K
Working Capital Changes	-675.79K	-899.74K	1.38M	460.33K	4.31M	-304K	-3.67M	217K	-10.78M	-5.85M
Change in Receivables	-503.59K	-2.88M	1.27M	136.43K	-2.36M	-465K	-1.45M	66K	-982K	642K
Change in Inventory	-11.04K	-14.32K	12.19K	-2.07K	3K	11K	-126K	11K	38K	19K
Change in Payables	891.31K	1.44M	100.4K	325.97K	64K	4K	25K	51K	-98K	-4K
Cash from Investing+	-866.97K	-4.9M	-2.96M	-6.53M	-10.83M	-1.16M	561K	-2.84M	-9.87M	-9.89M
Capital Expenditures	-866.97K	-122.99K	-1.76M	-4.46M	-10.83M	-1.16M	-28K	-2.84M	-5.27M	-36K
CapEx % of Revenue	0.09%	0.01%	0.08%	0.17%	0.34%	0.04%	0%	0.08%	0.13%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-4.77M	-1.2M	-2.07M	0	0	0	0	-4.6M	-5.9M
Cash from Financing+	267.3K	2.3M	-2.66M	244K	-8.99M	-4.35M	0	-327K	14.1M	13.09M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-3.01M	0	-7.25M	-4.35M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-300.73K	1.28M	346.5K	244K	-1.74M	0	0	0	0	866K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	392.75K	3.59M	7.04M	1.91M	2.74M	7.19M	7.28M	7.92M	-2.65M	-11.51M
FCF Margin %	0.04%	0.24%	0.34%	0.07%	0.09%	0.23%	0.21%	0.23%	-0.07%	-0.28%
FCF Growth %	-	8.15%	0.96%	-0.73%	0.44%	1.62%	0.01%	0.09%	-1.33%	-3.35%
FCF per Share	0.01	0.12	0.24	0.07	0.10	0.25	0.25	0.35	-0.10	-0.77
FCF Conversion (FCF/Net Income)	0.69x	0.94x	1.51x	0.98x	1.92x	1.30x	0.86x	1.38x	0.07x	0.91x
Interest Paid	0	0	0	0	0	15K	15K	1K	0	0
Taxes Paid	0	0	0	0	0	2.31M	2.98M	2.96M	2.63M	2.41M

Key Ratios

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	48.71%	65.32%	60.32%	44.15%	33.43%	24.95%	26.25%	20.06%	16.26%	-8.96%
Return on Invested Capital (ROIC)	59.9%	82.95%	99.95%	70.37%	45.31%	34.72%	42.74%	40.83%	33.76%	-8.07%
Gross Margin	66.84%	71.34%	73.02%	71.28%	61.21%	61.42%	59.7%	59.73%	61.17%	61.9%
Net Margin	19.67%	26.85%	28%	25.43%	22.37%	20.89%	24.67%	23.13%	20.97%	-14.8%
Debt / Equity	-	-	-	-	0.01x	0.01x	0.01x	0.01x	0.00x	0.00x
Interest Coverage	-	-	-	-	198.53x	-	-	-	-	-
FCF Conversion	0.69x	0.94x	1.51x	0.98x	1.92x	1.30x	0.86x	1.38x	0.07x	0.91x
Revenue Growth	-	59.3%	40.78%	23.09%	23.54%	-2.96%	11.83%	-1.43%	17.61%	4.32%

Frequently Asked Questions

Growth & Financials

Lichen International Limited (LICN) reported $79.6M in revenue for fiscal year 2024. This represents a 759% increase from $9.3M in 2014.

Lichen International Limited (LICN) grew revenue by 4.3% over the past year. Growth has been modest.

Lichen International Limited (LICN) reported a net loss of $8.5M for fiscal year 2024.

Dividend & Returns

Lichen International Limited (LICN) has a return on equity (ROE) of -9.0%. Negative ROE indicates the company is unprofitable.

Lichen International Limited (LICN) had negative free cash flow of $9.1M in fiscal year 2024, likely due to heavy capital investments.

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Lichen International Limited (LICN) 10-Year Financial Performance & Capital Metrics

LICN • • Industrial / General

IndustrialsBusiness ServicesProfessional & Technical ServicesConsulting & Advisory Services

Revenue $41M +4.3%
EBITDA -$2M -112.9%
Net Income -$6M -173.6%
EPS (Diluted) -0.41 -100.6%
Gross Margin 61.9% +1.2%
EBITDA Margin -4.04% -112.3%
Operating Margin -10.97% -135.6%
Net Margin -14.8% -170.6%
ROE -8.96% -155.1%
ROIC -8.07% -123.9%
Debt/Equity 0.00 -61.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Share count reduced 43.9% through buybacks
✓Healthy 5Y average net margin of 15.0%
✓Trading at only 0.6x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 13 (bottom 13%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y5.59%

3Y6.54%

TTM18.69%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-166.71%

EPS CAGR

10Y-

5Y-

3Y-

TTM-6035.76%

ROCE

10Y Avg46.68%

5Y Avg22.75%

3Y Avg14.83%

Latest-6.64%

Peer Comparison

Consulting & Advisory Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHLDResolute Holdings Management, Inc.	1.93B	226.37	69.02	7.67%	32.04%	343.07%	7.44%
CBZCBIZ, Inc.	2.8B	51.51	66.04	13.97%	3.89%	5.56%	3.95%	1.03
LZLegalZoom.com, Inc.	1.63B	9.22	57.63	3.2%	3.05%	11.01%	6.11%	0.08
TRIThomson Reuters Corporation	55.53B	124.84	25.53	6.83%	23.82%	14.95%	3.17%	0.26
BLMZHarrison Global Holdings Inc.	29.3K	0.02	-0.00	71.48%	-13.6%	-16.51%		0.08
SGRPSPAR Group, Inc.	20.12M	0.84	-6.46	-5.48%	-14.66%	-129.98%		0.78
LICNLichen International Limited	51.57M	3.18	-7.76	4.32%	-10.7%	-13.25%		0.00
ZGMZenta Group Company Limited Ordinary Shares	32.83M	2.78		135.19%	39.37%	71.65%		0.00

Profit & Loss

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.27M	14.76M	20.78M	25.58M	31.6M	30.67M	34.3M	33.8M	39.76M	41.48M
Revenue Growth %	-	0.59%	0.41%	0.23%	0.24%	-0.03%	0.12%	-0.01%	0.18%	0.04%
Cost of Goods Sold+	3.07M	4.23M	5.61M	7.35M	12.26M	11.83M	13.82M	13.61M	15.44M	15.8M
COGS % of Revenue	0.33%	0.29%	0.27%	0.29%	0.39%	0.39%	0.4%	0.4%	0.39%	0.38%
Gross Profit+	6.19M	10.53M	15.17M	18.24M	19.34M	18.84M	20.48M	20.19M	24.32M	25.67M
Gross Margin %	0.67%	0.71%	0.73%	0.71%	0.61%	0.61%	0.6%	0.6%	0.61%	0.62%
Gross Profit Growth %	-	0.7%	0.44%	0.2%	0.06%	-0.03%	0.09%	-0.01%	0.2%	0.06%
Operating Expenses+	3.74M	5.14M	6.55M	8.93M	9.62M	10.05M	9.18M	9.54M	12.06M	30.23M
OpEx % of Revenue	0.4%	0.35%	0.31%	0.35%	0.3%	0.33%	0.27%	0.28%	0.3%	0.73%
Selling, General & Admin	3.35M	4.74M	6.15M	8.31M	9.62M	10.05M	9.18M	9.54M	12.06M	30.23M
SG&A % of Revenue	0.36%	0.32%	0.3%	0.32%	0.3%	0.33%	0.27%	0.28%	0.3%	0.73%
Research & Development	389.34K	396.65K	397.38K	620.13K	0	930K	1.08M	1.06M	1.19M	1.38M
R&D % of Revenue	0.04%	0.03%	0.02%	0.02%	-	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	0	0	0	-930K	-1.08M	-1.06M	-1.19M	-1.38M
Operating Income+	2.46M	5.39M	8.63M	9.3M	9.73M	8.79M	11.3M	10.65M	12.26M	-4.55M
Operating Margin %	0.27%	0.37%	0.42%	0.36%	0.31%	0.29%	0.33%	0.31%	0.31%	-0.11%
Operating Income Growth %	-	1.19%	0.6%	0.08%	0.05%	-0.1%	0.29%	-0.06%	0.15%	-1.37%
EBITDA+	2.55M	5.59M	8.93M	9.76M	11.92M	9.59M	13.75M	11.35M	13.01M	-1.68M
EBITDA Margin %	0.28%	0.38%	0.43%	0.38%	0.38%	0.31%	0.4%	0.34%	0.33%	-0.04%
EBITDA Growth %	-	1.19%	0.6%	0.09%	0.22%	-0.2%	0.43%	-0.17%	0.15%	-1.13%
D&A (Non-Cash Add-back)	93.48K	202.06K	305.26K	457.22K	2.19M	806K	2.45M	701K	753K	2.88M
EBIT	2.46M	5.42M	8.65M	9.36M	9.78M	8.79M	11.3M	10.65M	12.26M	-4.55M
Net Interest Income+	0	0	0	0	0	103K	28K	60K	38K	163K
Interest Income	6.49K	11.61K	17.76K	31.52K	49K	103K	28K	60K	38K	163K
Interest Expense	0	0	0	0	49K	0	0	0	0	0
Other Income/Expense	6.49K	28.96K	23.93K	59.18K	5K	209K	216K	94K	-671K	379K
Pretax Income+	2.46M	5.42M	8.65M	9.36M	9.73M	9M	11.51M	10.74M	11.59M	-4.17M
Pretax Margin %	0.27%	0.37%	0.42%	0.37%	0.31%	0.29%	0.34%	0.32%	0.29%	-0.1%
Income Tax+	641.71K	1.46M	2.42M	2.86M	2.66M	2.59M	3.05M	2.92M	3.25M	1.95M
Effective Tax Rate %	0.74%	0.73%	0.67%	0.69%	0.73%	0.71%	0.73%	0.73%	0.72%	1.47%
Net Income+	1.82M	3.96M	5.82M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.14M
Net Margin %	0.2%	0.27%	0.28%	0.25%	0.22%	0.21%	0.25%	0.23%	0.21%	-0.15%
Net Income Growth %	-	1.17%	0.47%	0.12%	0.09%	-0.09%	0.32%	-0.08%	0.07%	-1.74%
Net Income (Continuing)	1.82M	3.96M	6.23M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.12M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-806	-4.62K	0	0	0	0	0	0	0	2.38M
EPS (Diluted)+	0.06	0.14	0.20	0.23	0.25	0.22	0.29	69.49	63.96	-0.41
EPS Growth %	-	1.22%	0.43%	0.15%	0.09%	-0.12%	0.32%	238.62%	-0.08%	-1.01%
EPS (Basic)	0.06	0.14	0.20	0.23	0.25	0.22	0.29	69.49	63.96	-0.41
Diluted Shares Outstanding	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	22.5M	26.51M	14.87M
Basic Shares Outstanding	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	22.5M	26.51M	14.87M
Dividend Payout Ratio	-	-	0.52%	-	1.03%	0.68%	-	-	-	-

Balance Sheet

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.16M	10.7M	12.62M	10.84M	7.42M	11.65M	23.89M	27.27M	40.13M	34.01M
Cash & Short-Term Investments	665.05K	1.72M	4.62M	5.01M	5.39M	8.66M	16.84M	22.6M	25.86M	26.71M
Cash Only	665.05K	1.72M	4.62M	5.01M	5.39M	8.66M	16.84M	22.6M	25.86M	26.71M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3.43M	4.24M	2.47M	2.39M	1.88M	2.83M	4.36M	3.54M	4.46M	7.09M
Days Sales Outstanding	134.96	104.94	43.39	34.06	21.72	33.72	46.41	38.28	40.97	62.43
Inventory	36.91K	49.13K	34.25K	38.7K	33K	23K	150K	127K	87K	67K
Days Inventory Outstanding	4.38	4.24	2.23	1.92	0.98	0.71	3.96	3.41	2.06	1.55
Other Current Assets	2	4.62M	5.47M	3.38M	118K	48K	2.24M	46K	5.72M	74K
Total Non-Current Assets+	895.71K	779.23K	2.11M	11.01M	21.37M	21.7M	19.05M	19.26M	25.41M	45.83M
Property, Plant & Equipment	374.6K	387.77K	1.19M	10.26M	15.46M	15.77M	14.94M	13.5M	14.76M	13.75M
Fixed Asset Turnover	24.74x	38.07x	17.53x	2.49x	2.04x	1.94x	2.30x	2.50x	2.69x	3.02x
Goodwill	0	0	0	0	0	0	0	0	0	4.45M
Intangible Assets	521.12K	0	0	0	5.51M	5.59M	3.87M	4.52M	6.03M	11.05M
Long-Term Investments	0	0	0	0	0	0	0	0	0	145K
Other Non-Current Assets	0	391.46K	923.66K	743.55K	401K	337K	250K	1.24M	4.63M	16.43M
Total Assets+	5.05M	11.48M	14.73M	21.85M	28.79M	33.35M	42.94M	46.52M	65.55M	79.84M
Asset Turnover	1.83x	1.29x	1.41x	1.17x	1.10x	0.92x	0.80x	0.73x	0.61x	0.52x
Asset Growth %	-	1.27%	0.28%	0.48%	0.32%	0.16%	0.29%	0.08%	0.41%	0.22%
Total Current Liabilities+	1.31M	3.09M	3.82M	3.28M	5.07M	5.71M	6.11M	5.23M	4.09M	4.27M
Accounts Payable	62.06K	42.35K	108.35K	46.38K	85K	95K	123K	161K	61K	55K
Days Payables Outstanding	7.37	3.65	7.05	2.3	2.53	2.93	3.25	4.32	1.44	1.27
Short-Term Debt	0	0	0	0	315K	337K	345K	88K	0	0
Deferred Revenue (Current)	0	0	0	0	1000K	1000K	1000K	1000K	1000K	696K
Other Current Liabilities	1.25M	3.05M	3.72M	3.23M	3.41M	3.57M	3.77M	3.75M	1.68M	150K
Current Ratio	3.17x	3.46x	3.30x	3.31x	1.47x	2.04x	3.91x	5.21x	9.81x	7.96x
Quick Ratio	3.14x	3.45x	3.29x	3.30x	1.46x	2.04x	3.88x	5.19x	9.79x	7.95x
Cash Conversion Cycle	131.98	105.53	38.57	33.68	20.18	31.5	47.13	37.36	41.59	62.7
Total Non-Current Liabilities+	0	0	0	0	0	0	1.74M	184K	34K	5K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	184K	34K	5K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	1.31M	3.09M	3.82M	3.28M	5.07M	5.71M	6.11M	5.42M	4.13M	4.28M
Total Debt+	0	0	0	0	315K	337K	345K	272K	129K	61K
Net Debt	-665.05K	-1.72M	-4.62M	-5.01M	-5.08M	-8.33M	-16.5M	-22.33M	-25.73M	-26.65M
Debt / Equity	-	-	-	-	0.01x	0.01x	0.01x	0.01x	0.00x	0.00x
Debt / EBITDA	-	-	-	-	0.03x	0.04x	0.03x	0.02x	0.01x	-
Net Debt / EBITDA	-0.26x	-0.31x	-0.52x	-0.51x	-0.43x	-0.87x	-1.20x	-1.97x	-1.98x	-
Interest Coverage	-	-	-	-	198.53x	-	-	-	-	-
Total Equity+	3.74M	8.39M	10.9M	18.57M	23.73M	27.64M	36.83M	41.11M	61.42M	75.56M
Equity Growth %	-	1.24%	0.3%	0.7%	0.28%	0.17%	0.33%	0.12%	0.49%	0.23%
Book Value per Share	0.13	0.29	0.38	0.65	0.83	0.96	1.28	1.83	2.32	5.08
Total Shareholders' Equity	3.74M	8.4M	10.9M	18.57M	23.73M	27.64M	36.83M	41.11M	61.42M	73.18M
Common Stock	0	0	144	154	1K	1K	1K	1K	1K	4K
Retained Earnings	2.96M	6.25M	7.42M	14.67M	22.49M	24.55M	33.01M	40.83M	48.22M	42.08M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	782.08K	2.15M	2.14M	2.47M	-256K	1.6M	2.33M	-1.21M	-1.7M	-2.26M
Minority Interest	-806	-4.62K	0	0	0	0	0	0	0	2.38M

Cash Flow

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.26M	3.72M	8.8M	6.36M	13.57M	8.35M	7.3M	10.77M	557K	-5.57M
Operating CF Margin %	0.14%	0.25%	0.42%	0.25%	0.43%	0.27%	0.21%	0.32%	0.01%	-0.13%
Operating CF Growth %	-	1.95%	1.37%	-0.28%	1.13%	-0.38%	-0.13%	0.47%	-0.95%	-11%
Net Income	1.82M	3.96M	5.82M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.12M
Depreciation & Amortization	93.48K	202.06K	305.26K	457.22K	2.19M	2.16M	2.45M	2.68M	2.92M	2.88M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	3.41M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-170.57K	2.31M	526.98K	-604.74K	-5K	87K	63K	50K	72K	109K
Working Capital Changes	-675.79K	-899.74K	1.38M	460.33K	4.31M	-304K	-3.67M	217K	-10.78M	-5.85M
Change in Receivables	-503.59K	-2.88M	1.27M	136.43K	-2.36M	-465K	-1.45M	66K	-982K	642K
Change in Inventory	-11.04K	-14.32K	12.19K	-2.07K	3K	11K	-126K	11K	38K	19K
Change in Payables	891.31K	1.44M	100.4K	325.97K	64K	4K	25K	51K	-98K	-4K
Cash from Investing+	-866.97K	-4.9M	-2.96M	-6.53M	-10.83M	-1.16M	561K	-2.84M	-9.87M	-9.89M
Capital Expenditures	-866.97K	-122.99K	-1.76M	-4.46M	-10.83M	-1.16M	-28K	-2.84M	-5.27M	-36K
CapEx % of Revenue	0.09%	0.01%	0.08%	0.17%	0.34%	0.04%	0%	0.08%	0.13%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-4.77M	-1.2M	-2.07M	0	0	0	0	-4.6M	-5.9M
Cash from Financing+	267.3K	2.3M	-2.66M	244K	-8.99M	-4.35M	0	-327K	14.1M	13.09M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-3.01M	0	-7.25M	-4.35M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-300.73K	1.28M	346.5K	244K	-1.74M	0	0	0	0	866K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	392.75K	3.59M	7.04M	1.91M	2.74M	7.19M	7.28M	7.92M	-2.65M	-11.51M
FCF Margin %	0.04%	0.24%	0.34%	0.07%	0.09%	0.23%	0.21%	0.23%	-0.07%	-0.28%
FCF Growth %	-	8.15%	0.96%	-0.73%	0.44%	1.62%	0.01%	0.09%	-1.33%	-3.35%
FCF per Share	0.01	0.12	0.24	0.07	0.10	0.25	0.25	0.35	-0.10	-0.77
FCF Conversion (FCF/Net Income)	0.69x	0.94x	1.51x	0.98x	1.92x	1.30x	0.86x	1.38x	0.07x	0.91x
Interest Paid	0	0	0	0	0	15K	15K	1K	0	0
Taxes Paid	0	0	0	0	0	2.31M	2.98M	2.96M	2.63M	2.41M

Key Ratios

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	48.71%	65.32%	60.32%	44.15%	33.43%	24.95%	26.25%	20.06%	16.26%	-8.96%
Return on Invested Capital (ROIC)	59.9%	82.95%	99.95%	70.37%	45.31%	34.72%	42.74%	40.83%	33.76%	-8.07%
Gross Margin	66.84%	71.34%	73.02%	71.28%	61.21%	61.42%	59.7%	59.73%	61.17%	61.9%
Net Margin	19.67%	26.85%	28%	25.43%	22.37%	20.89%	24.67%	23.13%	20.97%	-14.8%
Debt / Equity	-	-	-	-	0.01x	0.01x	0.01x	0.01x	0.00x	0.00x
Interest Coverage	-	-	-	-	198.53x	-	-	-	-	-
FCF Conversion	0.69x	0.94x	1.51x	0.98x	1.92x	1.30x	0.86x	1.38x	0.07x	0.91x
Revenue Growth	-	59.3%	40.78%	23.09%	23.54%	-2.96%	11.83%	-1.43%	17.61%	4.32%

Frequently Asked Questions

Growth & Financials

Lichen International Limited (LICN) reported $79.6M in revenue for fiscal year 2024. This represents a 759% increase from $9.3M in 2014.

Lichen International Limited (LICN) grew revenue by 4.3% over the past year. Growth has been modest.

Lichen International Limited (LICN) reported a net loss of $8.5M for fiscal year 2024.

Dividend & Returns

Lichen International Limited (LICN) has a return on equity (ROE) of -9.0%. Negative ROE indicates the company is unprofitable.

Lichen International Limited (LICN) had negative free cash flow of $9.1M in fiscal year 2024, likely due to heavy capital investments.