Revenue growth remains highly erratic with a 17.8% year-over-year increase in 2026Q1, while gross margins have improved to 33.6% despite significant quarterly fluctuations in operating income.
| Sales/Revenue | 94.55M | 90.69M | 83.94M | 90.33M | 90.83M | 98.84M | 66.86M | 52.4M | 60.21M | 49.07M |
| Revenue Growth % | 14.06% | 8.04% | -7.07% | -0.55% | -8.1% | 47.82% | 27.6% | -12.97% | 22.7% | - |
| Cost of Goods Sold | 64.56M | 62.25M | 61.41M | 65.76M | 71M | 79.25M | 54.05M | 40.02M | 46.14M | 37.21M |
| COGS % of Revenue | - | 68.64% | 73.16% | 72.79% | 78.16% | 80.18% | 80.84% | 76.38% | 76.63% | 75.83% |
| Gross Profit | 29.99M | 28.45M | 22.53M | 24.58M | 19.83M | 19.59M | 12.81M | 12.38M | 14.07M | 11.86M |
| Gross Margin % | 31.72% | 31.36% | 26.84% | 27.21% | 21.84% | 19.82% | 19.16% | 23.62% | 23.37% | 24.17% |
| Gross Profit Growth % | - | 26.24% | -8.31% | 23.9% | 1.23% | 52.92% | 3.51% | -12.04% | 18.65% | - |
| Operating Expenses | 21.56M | 20.92M | 9.94M | 13.8M | 13.88M | 11.34M | 6.1M | 5.77M | 5.38M | 12.71M |
| OpEx % of Revenue | - | 23.07% | 11.84% | 15.27% | 15.28% | 11.48% | 9.13% | 11.02% | 8.93% | 25.91% |
| Selling, General & Admin | 17.49M | 17M | 7M | 8.37M | 8.09M | 5.82M | 3.72M | 3.42M | 2.86M | 10.88M |
| SG&A % of Revenue | - | 18.75% | 8.34% | 9.27% | 8.91% | 5.89% | 5.56% | 6.53% | 4.76% | 22.16% |
| Research & Development | 4.62M | 3.92M | 2.94M | 5.42M | 5.79M | 5.53M | 2.38M | 2.36M | 2.51M | 1.84M |
| R&D % of Revenue | - | 4.32% | 3.5% | 6% | 6.37% | 5.59% | 3.57% | 4.49% | 4.17% | 3.75% |
| Other Operating Expenses | -551.2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 8.43M | 7.52M | 12.59M | 10.78M | 5.96M | 8.25M | 6.71M | 6.6M | 8.7M | -853K |
| Operating Margin % | 8.92% | 8.29% | 15% | 11.93% | 6.56% | 8.35% | 10.03% | 12.6% | 14.44% | -1.74% |
| Operating Income Growth % | - | -40.27% | 16.84% | 80.9% | -27.78% | 22.98% | 1.58% | -24.06% | 1119.58% | - |
| EBITDA | 10.84M | 9.93M | 14.84M | 12.97M | 8.39M | 10.76M | 9.14M | 8.9M | 10.28M | 437K |
| EBITDA Margin % | 11.46% | 10.95% | 17.68% | 14.36% | 9.24% | 10.89% | 13.67% | 16.99% | 17.07% | 0.89% |
| EBITDA Growth % | -38.58% | -33.09% | 14.41% | 54.5% | -22% | 17.7% | 2.71% | -13.39% | 2251.95% | - |
| D&A (Non-Cash Add-back) | 2.41M | 2.41M | 2.25M | 2.19M | 2.44M | 2.51M | 2.44M | 2.3M | 1.58M | 1.29M |
| EBIT | 11.29M | 7.52M | 16.75M | -23.06M | 4.91M | 9.7M | 9.58M | 7.22M | 9.57M | -853K |
| Net Interest Income | 911.15K | 565.72K | 780.15K | -107K | -346K | -519K | -928K | -1.14M | -1.25M | 0 |
| Interest Income | 1.06M | 677.39K | 864.39K | 143.09K | 56.82K | 68.3K | 2.65K | 151.53K | 304.91K | 1.15M |
| Interest Expense | 145.04K | 111.66K | 84.24K | 250.41K | 402.97K | 587.26K | 930.63K | 1.29M | 1.55M | 0 |
| Other Income/Expense | 4.99M | 4.59M | 4.07M | -34.09M | -1.46M | 861.41K | 1.94M | -669.54K | -681K | -225K |
| Pretax Income | 13.42M | 12.11M | 16.67M | -23.31M | 4.5M | 9.11M | 8.64M | 5.93M | 8.02M | -1.08M |
| Pretax Margin % | 14.19% | 13.35% | 19.85% | -25.8% | 4.96% | 9.22% | 12.93% | 11.33% | 13.31% | -2.2% |
| Income Tax | 3.64M | 3.51M | 1.51M | 1.71M | 699.69K | 1.84M | 2.27M | 847.37K | 1.39M | 2.19M |
| Effective Tax Rate % | 27.1% | 29% | 9.08% | -7.33% | 15.54% | 20.23% | 26.29% | 14.28% | 17.38% | -203.43% |
| Net Income | 5.93M | 4.93M | 14.07M | -15.88M | 745.55K | 6.27M | 6.76M | 4.46M | 5.96M | -3.27M |
| Net Margin % | 6.27% | 5.44% | 16.76% | -17.58% | 0.82% | 6.34% | 10.11% | 8.52% | 9.89% | -6.65% |
| Net Income Growth % | -61.92% | -64.94% | 188.59% | -2229.84% | -88.1% | -7.29% | 51.38% | -25.05% | 282.45% | - |
| Net Income (Continuing) | 9.78M | 8.6M | 15.15M | -25.02M | 3.8M | 7.27M | 6.37M | 5.09M | 6.62M | -3.27M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -5.78M | -6.62M | -6.94M | 573.17K | 13.72M | 12.56M | 5.77M | 8.37M | 7.9M | 7.9M |
| EPS (Diluted) | 0.27 | 0.31 | 1.03 | -1.20 | 0.06 | 0.58 | 0.67 | 0.56 | 0.79 | -3.26 |
| EPS Growth % | -76.38% | -69.9% | 185.83% | -2013.88% | -89.19% | -13.43% | 19.64% | -29.11% | 124.23% | - |
| EPS (Basic) | - | 0.31 | 1.03 | -1.20 | 0.06 | 0.58 | 0.67 | 0.56 | 0.79 | -3.26 |
| Diluted Shares Outstanding | 21.75M | 16.15M | 13.6M | 13.23M | 11.89M | 10.84M | 10.04M | 7.93M | 7.5M | 1M |
| Basic Shares Outstanding | 21.75M | 16.15M | 13.6M | 13.23M | 11.89M | 10.84M | 10.04M | 7.93M | 7.5M | 1M |
| Dividend Payout Ratio | - | 45.05% | 42.18% | - | - | - | - | 3.58% | - | - |
Geopolitical and Tariff Exposure
According to recent financial disclosures, GTEC's revenue growth has exhibited significant quarterly fluctuations, with the most recent period showing an 8.04% year-over-year increase to $25.5 million, highlighting the inherent instability in demand cycles for its specialized industrial drivetrain components and emerging electric vehicle product lines.
The inconsistent revenue trajectory suggests that the company remains highly susceptible to the timing of large purchase orders rather than a steady, recurring revenue stream. Investors should monitor whether the recent growth reflects a sustainable adoption of the HEVI brand or merely a temporary recovery in legacy component demand.
Based on reported figures, GTEC has demonstrated a notable improvement in gross margins, which reached 33.6% in 2026Q1, suggesting that the company's vertical integration strategy may be successfully insulating its core manufacturing profitability from the broader pricing pressures seen in the industrial machinery sector.
This margin profile appears superior to many pure-play EV peers, likely due to the company's established manufacturing footprint. However, the sustainability of these margins warrants further investigation, as they may be sensitive to fluctuations in raw material costs and the potential for increased competition in the electric drivetrain space.
As reported in financial statements, GTEC's operating income has swung from a $29.0K loss in 2025Q4 to a $5.7 million profit in 2026Q1, indicating that the company has yet to achieve a stable operating leverage profile as it scales its US-based distribution and service network.
The erratic nature of operating margins suggests that SG&A expenses are currently lumpy, likely driven by the heavy investment phase required to launch the HEVI brand. Analysts should interpret these swings as a sign that the company is still in a transitional phase where overhead costs are not yet fully optimized against revenue growth.
Based on the provided income statement data, GTEC's net income has experienced extreme variance, including a $18.8 million loss in 2023Q4 followed by periods of profitability, which suggests that non-operating items and accounting adjustments may be significantly distorting the underlying quality of reported earnings per share.
The lack of consistent profitability appears to be exacerbated by the company's transition from a component supplier to an OEM, which introduces new complexities in warranty and revenue recognition. Investors should be cautious of relying on quarterly EPS figures until the company demonstrates a more predictable path toward sustained net income generation.
Quick answers to the most common questions about buying GTEC stock.
For fiscal year 2025, Greenland Technologies Holding Corporation (GTEC) reported total revenue of $90.7M. This represents a 84.8% increase compared to $49.1M in 2017.
Greenland Technologies Holding Corporation (GTEC) is profitable, generating $4.9M in net income for the fiscal year ending 2025 with a net profit margin of 5.4%.
Greenland Technologies Holding Corporation (GTEC) reported an operating income of $7.5M, resulting in an operating profit margin of 8.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Greenland Technologies Holding Corporation (GTEC) generated $28.4M in gross profit for the year, representing a gross profit margin of 31.4%. This demonstrates the company's core pricing power and production efficiency.