The company's financial performance is characterized by a severe structural breakdown, evidenced by a -113.6% operating margin and a -54.9% gross margin in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 |
|---|
| Sales/Revenue | 3.99M | 4.14M | 4.53M | 7.01M | 8.1M | 9.64M | 10.87M | 10.92M | 12.33M | 13.21M | 15.57M | 20.35M | 22.13M | 32.81M | 54.51M | 81.17M | 74.39M | 61.7M | 50.97M | 33.19M | 21.84M | 8.66M | 23.27K | 110.08K | 37.49K |
| Revenue Growth % | -7.07% | -8.49% | -35.41% | -13.48% | -15.95% | -11.27% | -0.53% | -11.41% | -6.67% | -15.15% | -23.49% | -8.05% | -32.53% | -39.81% | -32.85% | 9.11% | 20.57% | 21.05% | 53.58% | 51.93% | 152.3% | 37097.91% | -78.86% | 193.62% | - |
| Cost of Goods Sold | 4.53M | 4.28M | 6.51M | 7.29M | 8.6M | 9.29M | 8.91M | 9.44M | 10.36M | 10.74M | 12.35M | 18.89M | 19.47M | 29.59M | 40.43M | 52.18M | 44.11M | 36.05M | 25.68M | 17.62M | 11.75M | 4.17M | 47.68K | 0 | 0 |
| COGS % of Revenue | - | 103.18% | 143.84% | 104.01% | 106.09% | 96.38% | 82.03% | 86.43% | 83.98% | 81.32% | 79.33% | 92.8% | 87.95% | 90.19% | 74.18% | 64.29% | 59.29% | 58.43% | 50.38% | 53.09% | 53.77% | 48.13% | 204.86% | - | - |
| Gross Profit | -535.68K | -131.95K | -1.99M | -281.08K | -493.92K | 349.27K | 1.95M | 1.48M | 1.97M | 2.47M | 3.22M | 1.46M | 2.67M | 3.22M | 14.08M | 28.99M | 30.28M | 25.65M | 25.29M | 15.57M | 10.1M | 4.49M | -24.41K | 110.08K | 37.49K |
| Gross Margin % | -13.42% | -3.18% | -43.84% | -4.01% | -6.09% | 3.62% | 17.97% | 13.57% | 16.02% | 18.68% | 20.67% | 7.2% | 12.05% | 9.81% | 25.82% | 35.71% | 40.71% | 41.58% | 49.62% | 46.91% | 46.23% | 51.87% | -104.86% | 100% | 100% |
| Gross Profit Growth % | - | 93.35% | -606.42% | 43.09% | -241.41% | -82.12% | 31.76% | -24.95% | -20% | -23.3% | 119.76% | -45.11% | -17.11% | -77.13% | -51.44% | -4.28% | 18.06% | 1.42% | 62.46% | 54.17% | 124.84% | 18500.59% | -122.17% | 193.62% | - |
| Operating Expenses | 3.06M | 2.96M | 2.6M | 2.47M | 3.06M | 3.21M | 4.53M | 4.87M | -12.42M | -21.15M | -11.37M | -15.76M | -41.43M | -21.83M | -8.17M | 6.96M | 6.09M | 3.04M | 5.56M | 3.32M | 1.47M | 247.03K | 92.96K | 265.72K | 752.32K |
| OpEx % of Revenue | - | 71.34% | 57.48% | 35.24% | 37.7% | 33.29% | 41.7% | 44.6% | -100.74% | -160.07% | -73.05% | -77.46% | -187.16% | -66.53% | -14.99% | 8.58% | 8.18% | 4.92% | 10.91% | 9.99% | 6.75% | 2.85% | 399.41% | 241.39% | 2006.73% |
| Selling, General & Admin | 2.73M | 2.83M | 2.31M | 2.25M | 2.96M | 3.15M | 4.04M | 4.64M | 5.17M | 5.48M | 6.3M | 6.19M | 5.06M | 5.69M | 6.41M | 7.16M | 5.58M | 4.85M | 5.56M | 3.32M | 1.47M | 247.03K | 92.96K | 265.72K | 752.32K |
| SG&A % of Revenue | - | 68.22% | 51.08% | 32.04% | 36.56% | 32.63% | 37.16% | 42.49% | 41.9% | 41.48% | 40.48% | 30.42% | 22.88% | 17.34% | 11.76% | 8.82% | 7.5% | 7.87% | 10.91% | 9.99% | 6.75% | 2.85% | 399.41% | 241.39% | 2006.73% |
| Research & Development | 335.08K | 280.9K | 283.94K | 240.08K | 185.86K | 318.96K | 377.96K | 229.64K | 172.38K | 90.47K | 365.97K | 961.9K | 2.8M | 1.68M | 438.66K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 6.78% | 6.27% | 3.42% | 2.29% | 3.31% | 3.48% | 2.1% | 1.4% | 0.68% | 2.35% | 4.73% | 12.64% | 5.13% | 0.8% | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 872 | -151.56K | 5.7K | -15.76K | -93.85K | -255.22K | 115.19K | 0 | 0 | 4.83T | 0 | 0 | 0 | 0 | 1.46T | -193.59K | 505.22K | -1.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -3.6M | -3.09M | -4.59M | -2.75M | -3.55M | -2.86M | -2.58M | -3.39M | -3.97M | -4.5M | -4.19M | -14.2M | -36.55M | -14.91M | 6.5M | 22.03M | 24.66M | 22.61M | 19.73M | 12.25M | 8.62M | 4.24M | -117.37K | -155.64K | -714.83K |
| Operating Margin % | -90.13% | -74.53% | -101.32% | -39.25% | -43.79% | -29.67% | -23.73% | -31.03% | -32.18% | -34.03% | -26.93% | -69.75% | -165.11% | -45.44% | 11.92% | 27.14% | 33.16% | 36.65% | 38.71% | 36.92% | 39.48% | 49.02% | -504.27% | -141.39% | -1906.73% |
| Operating Income Growth % | - | 32.69% | -66.76% | 22.46% | -24.07% | -10.95% | 23.93% | 14.58% | 11.74% | -7.22% | 70.46% | 61.16% | -145.17% | -329.4% | -70.5% | -10.7% | 9.07% | 14.62% | 61.05% | 42.07% | 103.2% | 3715.79% | 24.59% | 78.23% | - |
| EBITDA | -1.44M | -1.51M | -1.97M | 1.83K | -848.44K | 227.31K | 101.18K | -460.78K | -709.62K | -1.2M | -1.12M | -17.79M | -38.33M | -16.52M | 5.04M | 23.2M | 26.17M | 24.01M | 20.45M | 12.67M | 9.02M | 4.49M | 386.82K | -88.37K | -631.53K |
| EBITDA Margin % | -36.15% | -36.42% | -43.52% | 0.03% | -10.47% | 2.36% | 0.93% | -4.22% | -5.75% | -9.12% | -7.16% | -87.43% | -173.18% | -50.35% | 9.24% | 28.58% | 35.18% | 38.92% | 40.12% | 38.19% | 41.3% | 51.91% | 1661.96% | -80.28% | -1684.52% |
| EBITDA Growth % | 34.87% | 23.41% | -107559.11% | 100.22% | -473.25% | 124.67% | 121.96% | 35.07% | 41.1% | -8.02% | 93.73% | 53.58% | -132.05% | -428.07% | -78.3% | -11.35% | 8.98% | 17.43% | 61.36% | 40.5% | 100.72% | 1061.78% | 537.72% | 86.01% | - |
| D&A (Non-Cash Add-back) | 2.15M | 1.58M | 2.62M | 2.75M | 2.7M | 3.09M | 2.68M | 2.93M | 3.26M | 3.29M | 3.08M | -3.6M | -1.79M | -1.61M | -1.46M | 1.17M | 1.51M | 1.4M | 719.48K | 422.44K | 397K | 250.18K | 504.19K | 67.27K | 83.31K |
| EBIT | -3.45M | -3.09M | -4.58M | -2.75M | -3.54M | -2.86M | -2.57M | -20.38M | -10.41M | -18.62M | -8.02M | -14.18M | -38.69M | -18.6M | 5.91M | 22.97M | 26.27M | 20.39M | 19.67M | 12.25M | 8.62M | 4.24M | -493.1K | -117.37K | -450.72K |
| Net Interest Income | -98.96K | -100.03K | -147.5K | -327K | -423.86K | -538.97K | -288.48K | -294.19K | -412.74K | -474.92K | -718.98K | -1.05M | -716.07K | -340.24K | -303.43K | -247.99K | -152.84K | -123.49K | -85.86K | -205.59K | -144.89K | -185.68K | 0 | -5.59K | 0 |
| Interest Income | 1.08K | 2K | 6.64K | 6.6K | 10.76K | 3.04K | 5.67K | 27.53K | 38.52K | 64.41K | 130.57K | 119.92K | 69.74K | 8.46K | 4.94K | 7.21K | 15.41K | 30.7K | 45.17K | 31.8K | 991 | 769 | 0 | 0 | 0 |
| Interest Expense | 100.04K | 102.04K | 154.14K | 333.6K | 434.62K | 542K | 294.16K | 321.72K | 451.26K | 539.33K | 849.56K | 1.17M | 785.8K | 348.7K | 308.38K | 255.2K | 168.26K | 154.18K | 131.03K | 237.4K | 145.88K | 186.45K | 5.59K | 5.59K | 49.85K |
| Other Income/Expense | 52.59K | -99.02K | -147.5K | -327K | -423.86K | -538.97K | -288.48K | -17.31M | -6.89M | -14.66M | -4.68M | -1.15M | -2.93M | -340.24K | -896.53K | 686.27K | 1.44M | -119.95K | -189.04K | 405.43K | -36.41K | -192.16K | 0 | -386.92K | 450.72K |
| Pretax Income | -3.55M | -3.19M | -4.74M | -3.08M | -3.97M | -3.4M | -2.87M | -20.7M | -10.86M | -19.15M | -8.87M | -15.35M | -39.47M | -18.95M | 5.6M | 22.71M | 26.1M | 22.49M | 19.54M | 12.66M | 8.59M | 4.05M | -117.37K | -180.17K | -1.1M |
| Pretax Margin % | -88.82% | -76.91% | -104.58% | -43.91% | -49.02% | -35.26% | -26.38% | -189.51% | -88.07% | -144.98% | -57% | -75.4% | -178.34% | -57.75% | 10.28% | 27.98% | 35.09% | 36.46% | 38.34% | 38.14% | 39.31% | 46.8% | -504.27% | -163.68% | -2945.14% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -109.99K | 122.63K | 308.18K | 60.44K | 77.04K | 1.06M | 983.92K | 3.44M | 2.69M | 2.26M | 1.71M | -162.87K | 0 | 252.1K | 762.66K | 95.25K | 678.89K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1.01% | -0.64% | -3.47% | -0.39% | -0.2% | -5.6% | 17.57% | 15.16% | 10.29% | 10.05% | 8.74% | -1.29% | 0% | 6.22% | -649.79% | -52.87% | -61.49% |
| Net Income | -3.55M | -3.19M | -4.74M | -3.08M | -3.97M | -3.4M | -2.87M | -20.7M | -10.75M | -19.28M | -9.18M | -15.41M | -26.05M | -20.01M | 4.62M | 19.27M | 23.41M | 20.23M | 17.83M | 12.82M | 8.59M | 3.8M | -504.29K | -226.37K | -1.1M |
| Net Margin % | -88.82% | -76.91% | -104.58% | -43.91% | -49.02% | -35.26% | -26.38% | -189.51% | -87.18% | -145.91% | -58.97% | -75.7% | -117.68% | -60.99% | 8.47% | 23.74% | 31.48% | 32.79% | 34.99% | 38.63% | 39.31% | 43.89% | -2166.67% | -205.64% | -2945.14% |
| Net Income Growth % | 22.36% | 32.7% | -53.84% | 22.5% | -16.87% | -18.58% | 86.15% | -92.57% | 44.23% | -109.94% | 40.39% | 40.86% | -30.18% | -533.29% | -76.04% | -17.7% | 15.72% | 13.45% | 39.11% | 49.29% | 126% | 853.44% | -122.78% | 79.5% | - |
| Net Income (Continuing) | -3.55M | -3.19M | -4.74M | -3.08M | -3.97M | -3.4M | -2.87M | -20.7M | -10.75M | -19.28M | -9.18M | -15.41M | -39.55M | -20.01M | 4.62M | 19.27M | 23.41M | 17.97M | 17.83M | 12.82M | 8.59M | 3.8M | -504.29K | -504.29K | -521.44K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.83 | -0.74 | -0.27 | -0.29 | -1.94 | -0.85 | -0.72 | -4.82 | -2.47 | -4.42 | -2.11 | -3.54 | -5.98 | -4.59 | 1.06 | 4.40 | 5.40 | 4.30 | 4.40 | 3.40 | 2.50 | 3.40 | -0.45 | -0.35 | -1.95 |
| EPS Growth % | 14.43% | -174.07% | 6.9% | 85.05% | -128.24% | -18.06% | 85.06% | -95.14% | 44.12% | -109.48% | 40.4% | 40.8% | -30.28% | -533.02% | -75.91% | -18.52% | 25.58% | -2.27% | 29.41% | 36% | -26.47% | 855.56% | -28.57% | 82.05% | - |
| EPS (Basic) | - | -0.74 | -0.27 | -0.29 | -1.94 | -0.85 | -0.72 | -4.82 | -2.47 | -4.42 | -2.11 | -3.54 | -5.99 | -4.60 | 1.06 | 4.40 | 5.40 | 4.30 | 4.40 | 3.50 | 2.50 | 3.40 | -0.45 | -0.35 | -1.95 |
| Diluted Shares Outstanding | 4.29M | 4.29M | 17.46M | 10.6M | 5.26M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M |
| Basic Shares Outstanding | 4.29M | 4.29M | 17.46M | 10.6M | 5.26M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M | 4.61M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6.25% | - | - | - |
Operational viability and liquidity
As indicated by the most recent quarterly data, CPHI's revenue has plummeted to $983.5K, representing a 13.4% year-over-year decline and underscoring a broader pattern of sustained contraction that suggests the company is losing its competitive foothold within the highly commoditized Chinese generic pharmaceutical market.
The consistent downward trajectory in top-line performance appears to reflect an inability to maintain market share against larger, more cost-efficient competitors. This revenue erosion, coupled with the lack of a clear growth catalyst, suggests that the firm's legacy product portfolio is increasingly marginalized by national procurement pricing pressures.
According to the latest financial disclosures, CPHI reported a gross margin of -54.9%, a figure that highlights a fundamental breakdown in the company's cost structure where the expense of manufacturing goods consistently exceeds the realized market price for its pharmaceutical offerings.
This negative gross margin indicates that the company is effectively destroying value with every unit produced, likely due to high fixed manufacturing overheads that cannot be absorbed by current low sales volumes. Investors should monitor whether the firm can rationalize its production footprint, as the current margin profile appears unsustainable for a going concern.
Based on reported figures, CPHI's operating margin of -113.6% reveals a severe lack of operating leverage, as the company continues to incur significant SG&A expenses despite a shrinking revenue base that fails to cover even the most basic costs of its regional sales infrastructure.
The maintenance of a large sales force relative to the minimal revenue generated suggests a rigid cost structure that lacks the agility required to navigate a declining market. This disconnect between operational spending and top-line output implies that the company's current business model may be fundamentally misaligned with its actual market demand.
As evidenced by the persistent net losses and the recent collapse into negative gross margins, the company's financial narrative faces significant skepticism regarding its ability to remain a going concern without immediate and drastic restructuring of its core manufacturing and distribution operations.
Short-sellers would likely focus on the extreme ratio of sales representatives to revenue, which suggests that the company's regional offices may be largely dormant or highly inefficient. The lack of R&D investment further complicates the outlook, as it limits the potential for a product-led turnaround in a sector that demands constant innovation to survive regulatory shifts.
Quick answers to the most common questions about buying CPHI stock.
For fiscal year 2025, China Pharma Holdings, Inc. (CPHI) reported total revenue of $4.1M. This represents a 10954.3% increase compared to $0.0M in 2002.
China Pharma Holdings, Inc. (CPHI) reported a net loss of $3.2M for the fiscal year ending 2025.
China Pharma Holdings, Inc. (CPHI) reported an operating income of $-3.1M, resulting in an operating profit margin of -74.5%. This margin reflects the operational efficiency of the business before interest and taxes.
China Pharma Holdings, Inc. (CPHI) generated $-0.1M in gross profit for the year, representing a gross profit margin of -3.2%. This demonstrates the company's core pricing power and production efficiency.