Tian Ruixiang Holdings Ltd (TIRX) 10-Year Financial Performance & Capital Metrics

TIRX • • Insurance & Managed Care

Financial ServicesInsurance BrokersChina-Focused Digital Insurance BrokersChinese Digital Insurance Platforms

AboutTian Ruixiang Holdings Ltd, together its subsidiaries, operates as an insurance broker in China and the United States. The company distributes a range of insurance products, including property and casualty insurance, such as automobile insurance, commercial property insurance, liability insurance, and accidental insurance; and life insurance comprising individual and group life insurances. It serves individual or institutional customers. Tian Ruixiang Holdings Ltd was founded in 2010 and is headquartered in Beijing, China.Show more

Revenue $3M +158.7%
Combined Ratio 244.29% -28.7%
Net Income -$4M -62.5%
Return on Equity -12.03% -61.5%
Medical Cost Ratio 52.85% +42.7%
Operating Margin -144.29% +40.5%
Net Margin -123.84% +37.2%
ROA -10.57% -51.8%
Equity / Assets 84.77% -7.2%
Book Value per Share 1.03 -59.8%
Tangible BV/Share 1.03 -59.8%
Debt/Equity 0.03 +1863.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Low loss ratio of 52.9%
✓Trading at only 0.5x book value

✗Weaknesses

✗Unprofitable underwriting: 244.3% combined ratio
✗Weak Piotroski F-Score: 3/9
✗Weak momentum: RS Rating 1 (bottom 1%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y9.96%

3Y4.88%

TTM967.32%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-128.94%

EPS CAGR

10Y-

5Y-

3Y-

TTM-461.74%

ROCE

10Y Avg19.09%

5Y Avg-7.92%

3Y Avg-12.35%

Latest-13.98%

Peer Comparison

Chinese Digital Insurance Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ZBAOZhibao Technology Inc. Class A Ordinary Shares	16.02M	0.97	16.74	28.86%	8.3%	42.39%		0.47
WDHWaterdrop Inc.	503.83M	1.79	0.18	5.36%	14.98%	8.92%	43.43%	0.05
YBYuanbao Inc. American Depositary Shares	658.52M	20.33	0.18	60.6%	23.34%		100%
HUIZHuize Holding Limited	19.48M	2.27	-1.77	4.46%	1.35%	4.21%		0.21
TIRXTian Ruixiang Holdings Ltd	12.13M	0.46	-3.87	158.74%	-11.06%	-12.03%	7.4%	0.03

Profit & Loss

	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Revenue+	1.53M	3.09M	2M	3.25M	2.79M	1.35M	1.24M	3.22M
Revenue Growth %	-	1.02%	-0.35%	0.62%	-0.14%	-0.52%	-0.08%	1.59%
Medical Costs & Claims+	137.05K	0	651.49K	743.06K	948.9K	2.69M	460.79K	1.7M
Medical Cost Ratio %	-	-	-	-	-	-	-	-
Gross Profit+	1.39M	3.09M	1.35M	2.51M	1.84M	-1.34M	783.46K	1.52M
Gross Margin %	-	-	-	-	-	-	-	-
Gross Profit Growth %	-	1.21%	-0.56%	0.86%	-0.27%	-1.73%	1.58%	0.94%
Operating Expenses+	278.36K	1.63M	1.25M	2.69M	5.04M	3.73M	3.8M	6.16M
OpEx / Revenue %	-	-	-	-	-	-	-	-
Depreciation & Amortization	10.94K	30.3K	34.71K	227.54K	255.11K	208.27K	79.76K	168.7K
Combined Ratio %	-	-	-	-	-	-	-	-
Operating Income+	1.12M	1.46M	102.67K	560.14K	-2.25M	-5.07M	-3.02M	-4.65M
Operating Margin %	-	-	-	-	-	-	-	-
Operating Income Growth %	-	0.31%	-0.93%	4.46%	-5.02%	-1.25%	0.4%	-0.54%
EBITDA+	1.13M	1.49M	137.38K	787.68K	-2M	-4.86M	-2.94M	-4.48M
EBITDA Margin %	-	-	-	-	-	-	-	-
Interest Expense	0	22.89K	18.83K	0	0	0	0	0
Non-Operating Income	-15.76K	-50.3K	-330.16K	0	0	-123.65K	0	-1.68M
Pretax Income+	1.13M	1.49M	414K	760.15K	-1.92M	-4.66M	-2.29M	-3.94M
Pretax Margin %	-	-	-	-	-	-	-	-
Income Tax+	168.25K	365.19K	238.21K	126.06K	24.53K	23.64K	161.34K	42.12K
Effective Tax Rate %	-	-	-	-	-	-	-	-
Net Income+	963.32K	1.12M	175.79K	634.1K	-1.94M	-4.68M	-2.45M	-3.99M
Net Margin %	-	-	-	-	-	-	-	-
Net Income Growth %	-	0.16%	-0.84%	2.61%	-4.07%	-1.41%	0.48%	-0.62%
EPS (Diluted)+	0.24	0.28	0.04	0.10	-0.28	-0.45	-0.19	-0.12
EPS Growth %	-	0.16%	-0.84%	1.25%	-3.83%	-0.61%	0.58%	0.37%
EPS (Basic)	0.24	0.28	0.04	0.16	-0.28	-0.45	-0.19	-0.12
Diluted Shares Outstanding	4M	4M	4M	6.4M	6.89M	10.37M	12.67M	32.93M

Balance Sheet

	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Total Assets+	988.81K	8.74M	8.41M	10.06M	40.35M	35.03M	35.48M	39.98M
Asset Growth %	-	7.84%	-0.04%	0.2%	3.01%	-0.13%	0.01%	0.13%
Total Investment Assets+	0	0	0	0	0	26.18M	26.8M	28.09M
Long-Term Investments	0	0	0	0	0	0	0	0
Short-Term Investments	0	0	0	0	0	26.18M	26.8M	28.09M
Total Current Assets+	678.37K	8.45M	8.09M	9.56M	31.63M	34.86M	27.62M	39.92M
Cash & Equivalents	96.1K	6.71M	6.24M	6.14M	30.02M	2.51K	2.38K	297.29K
Receivables	385.64K	707.39K	173.06K	1000K	320.85K	1000K	18.96K	1000K
Other Current Assets	166.48K	947.72K	1.25M	1.72M	937.05K	861.69K	800.2K	785.1K
Goodwill & Intangibles+	40.38K	16.68K	170.35K	160.22K	147.54K	0	0	0
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	40.38K	16.68K	170.35K	160.22K	147.54K	0	0	0
PP&E (Net)	15.92K	17.35K	144.56K	332.24K	771.49K	152.13K	61.15K	57.8K
Other Assets	254.14K	254.28K	6.57K	7.42K	7.8M	20.08K	7.8M	0
Total Liabilities	270.37K	1.27M	830.73K	1.42M	1.36M	1.55M	3.06M	6.09M
Total Debt+	0	373.38K	117.71K	321.93K	660.97K	145.52K	57.4K	1.18M
Net Debt	-96.1K	-6.34M	-6.13M	-5.82M	-29.36M	143.01K	55.02K	881.31K
Long-Term Debt	0	0	0	0	0	0	0	140.49K
Short-Term Debt	0	373.38K	0	0	0	0	0	983.42K
Total Current Liabilities+	270.37K	1.27M	790.61K	1.29M	1.12M	1.49M	3.06M	5.92M
Accounts Payable	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	0	0	-3.7M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	0	0	0	0	0
Total Equity+	718.44K	7.47M	7.58M	8.64M	38.99M	33.48M	32.42M	33.89M
Equity Growth %	-	9.4%	0.01%	0.14%	3.51%	-0.14%	-0.03%	0.05%
Shareholders Equity	718.44K	7.47M	7.58M	8.64M	38.99M	33.48M	32.42M	33.89M
Minority Interest	0	478	474	495	489	400	394	402
Retained Earnings	-877.18K	215.05K	301.25K	884.08K	-1.09M	-5.8M	-8.3M	-12.33M
Common Stock	10K	5K	5K	5K	11.35K	13.89K	18.12K	59.61K
Accumulated OCI	130.84K	-438.46K	-419.3K	52.67K	296.36K	-3.39M	-3.41M	-2.6M
Return on Equity (ROE)	1.34%	0.27%	0.02%	0.08%	-0.08%	-0.13%	-0.07%	-0.12%
Return on Assets (ROA)	0.97%	0.23%	0.02%	0.07%	-0.08%	-0.12%	-0.07%	-0.11%
Equity / Assets	-	-	-	-	-	-	-	-
Debt / Equity	-	0.05x	0.02x	0.04x	0.02x	0.00x	0.00x	0.03x
Book Value per Share	0.18	1.87	1.89	1.35	5.66	3.23	2.56	1.03
Tangible BV per Share	-	-	-	-	-	-	-	-

Cash Flow

	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	498.83K	1.37M	229.05K	-48.17K	-1.36M	-198.76K	994.3K	897.89K
Operating CF Growth %	-	1.76%	-0.83%	-1.21%	-27.32%	0.85%	6%	-0.1%
Operating CF / Revenue %	-	-	-	-	-	-	-	-
Net Income	963.32K	1.12M	175.79K	634.1K	-1.94M	-4.68M	-2.45M	-3.99M
Depreciation & Amortization	10.94K	30.3K	34.71K	227.54K	255.11K	208.27K	79.76K	168.7K
Stock-Based Compensation	0	0	0	0	0	2.89M	1.45M	2.82M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	-2.13K	31	0	0	696	123.65K	8.18K	1.68M
Working Capital Changes	-473.31K	222.78K	18.55K	-909.81K	324.83K	1.26M	1.91M	220.25K
Cash from Investing+	-258.08K	-9.62K	37.01K	-3.46K	-7.5M	-28.9M	-992.72K	-1.82M
Capital Expenditures	-41.34K	-9.62K	-12.01K	-3.46K	-3.41K	-2.35K	0	0
Acquisitions	-216.74K	0	0	0	0	0	0	77.89K
Purchase of Investments	0	0	0	0	0	-29.01M	-27.78M	-28.14M
Sale/Maturity of Investments	0	0	0	0	0	116.66K	1000K	1000K
Other Investing	0	0	49.02K	0	-7.5M	0	-300K	-1.36M
Cash from Financing+	0	6.49M	-871.32K	-478.25K	32.64M	0	-283	1.19M
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0
Stock Issued	0	6.09M	-493.44K	-366.08K	36.86M	0	0	0
Debt Issuance (Net)	0	396.55K	-377.88K	-112.16K	-378.21K	0	-283	1000K
Other Financing	0	6.09M	-493.44K	0	-3.84M	0	0	0
Net Change in Cash+	243.76K	7.38M	-660.85K	-43.09K	23.92M	-30.15M	-167	301.16K
Exchange Rate Effect	3.01K	-471.03K	-55.59K	486.78K	145.01K	-1000K	-1.47K	35.53K
Cash at Beginning	3.19K	246.95K	7.63M	6.97M	6.92M	30.84M	695.24K	695.08K
Cash at End	246.95K	7.63M	6.97M	6.92M	30.84M	695.24K	695.08K	996.24K
Free Cash Flow+	457.49K	1.36M	33.93K	-51.63K	-1.37M	-201.11K	994.3K	897.89K
FCF Growth %	-	1.98%	-0.98%	-2.52%	-25.49%	0.85%	5.94%	-0.1%
FCF Margin %	-	-	-	-	-	-	-	-
FCF per Share	0.11	0.34	0.01	-0.01	-0.2	-0.02	0.08	0.03

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	27.13%	52.74%	94.87%	105.63%	214.77%	474.94%	342.42%	244.29%
Medical Cost Ratio	8.95%	0%	32.54%	22.87%	34%	199.11%	37.03%	52.85%
Return on Equity (ROE)	134.09%	27.38%	2.34%	7.82%	-8.16%	-12.93%	-7.45%	-12.03%
Return on Assets (ROA)	97.42%	23.05%	2.05%	6.87%	-7.71%	-12.43%	-6.96%	-10.57%
Equity / Assets	72.66%	85.49%	90.12%	85.87%	96.64%	95.58%	91.37%	84.77%
Book Value / Share	0.18	1.87	1.89	1.35	5.66	3.23	2.56	1.03
Debt / Equity	-	0.05x	0.02x	0.04x	0.02x	0.00x	0.00x	0.03x
Revenue Growth	-	101.65%	-35.16%	62.29%	-14.12%	-51.56%	-7.96%	158.74%

Revenue by Segment

	2021	2022	2023	2024
Commissions	2.68M	1.32M	1.24M	3.22M
Commissions Growth	-	-50.49%	-6.07%	158.74%
Risk management services	115.01K	27.25K	-	-
Risk management services Growth	-	-76.30%	-	-

Frequently Asked Questions

Growth & Financials

Tian Ruixiang Holdings Ltd (TIRX) grew revenue by 158.7% over the past year. This is strong growth.

Tian Ruixiang Holdings Ltd (TIRX) reported a net loss of $0.9M for fiscal year 2024.

Dividend & Returns

Tian Ruixiang Holdings Ltd (TIRX) has a return on equity (ROE) of -12.0%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Tian Ruixiang Holdings Ltd (TIRX) has a combined ratio of 244.3%. A ratio above 100% means claims and expenses exceed premiums.

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