HeartCore Enterprises, Inc.(HTCR)Earnings, Financials & Key Ratios
HTCR•NASDAQ
$3.25
$206538 mkt cap·0.0× P/E·Price updated May 6, 2026
AboutHeartCore Enterprises, Inc., a software development company, provides Software as a Service solutions to enterprise customers in Japan and internationally. Its customer experience management platform includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. The company also provides data analytics services that allow enterprise businesses to create web experiences for their clients. In addition, it operates a digital transformation business that provides customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises. The company was founded in 2009 and is headquartered in Tokyo, Japan.Show more
- Revenue$9M-70.5%
- EBITDA-$3M-459.6%
- Net Income$6M+491.1%
- EPS (Diluted)88.00+411.2%
- Gross Margin35.14%-40.1%
- EBITDA Margin-32.66%-1319.3%
- Operating Margin-33.17%-15674.2%
- Net Margin64.6%+1426.0%
- ROE107.84%+505.1%
- ROIC-39.95%-6952.9%
- Debt/Equity0.10-90.5%
- Interest Coverage-46.22-27.9%
HTCR Key Insights
HeartCore Enterprises, Inc. (HTCR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 107.4%
- ✓Trading at only 0.0x book value
✗Weaknesses
- ✗Weak 3Y average ROE of 4.7%
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 0 (bottom 0%)
- ✗Shares diluted 21.6% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
HTCR Price & Volume
HeartCore Enterprises, Inc. (HTCR) stock price & volume — 10-year historical chart
Loading chart...
HTCR Growth Metrics
HeartCore Enterprises, Inc. (HTCR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-0.13%
3 Years0.57%
TTM-56.47%
Profit CAGR
10 Years-
5 Years107.41%
3 Years-
TTM491.12%
EPS CAGR
10 Years-
5 Years95.01%
3 Years-
TTM391.99%
Return on Capital
10 Years-29.26%
5 Years-36.12%
3 Years-26.39%
Last Year-41.69%
HTCR Peer Comparison
HeartCore Enterprises, Inc. (HTCR) competitors in CRM and customer engagement software — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 MGIC | 853.35M | 17.38 | 23.17 | 3.26% | 6.64% | 13.38% | 0.29 | |
 ALLT | 306.76M | 7.76 | 96.76 | 10.63% | 3.63% | 3.27% | 0.10 | |
 KARO | 1.54B | 49.90 | 27.65 | 8.61% | 19.48% | 31.6% | 0.22 | |
 SPSC | 2.09B | 55.87 | 22.71 | 17.83% | 11.92% | 9.45% | 0.01 | |
 HUBS | 12.11B | 235.16 | 273.44 | 19.17% | 1.47% | 2.3% | 0.23 | |
 DOMO | 137.89M | 3.81 | -2.63 | 0.57% | -18.61% | |||
 FROG | 6.52B | 53.81 | -86.79 | 24.12% | -13.5% | -8.52% | 0.02 | |
 AGYS | 1.93B | 68.56 | 83.61 | 16.07% | 9.79% | 9.72% | 0.18 |
Compare HTCR vs Peers
HeartCore Enterprises, Inc. (HTCR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HTCR Income Statement
HeartCore Enterprises, Inc. (HTCR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 7.21M | 9.03M | 10.82M | 8.82M | 21.85M | 30.41M | 8.97M |
| Revenue Growth % | - | 25.21% | 19.9% | -18.52% | 147.73% | 39.19% | -70.5% |
| Cost of Goods Sold | 4.55M | 5.01M | 5.63M | 5.47M | 13.78M | 12.58M | 5.82M |
| COGS % of Revenue | 63.08% | 55.48% | 52.06% | 62% | 63.07% | 41.37% | 64.86% |
| Gross Profit | 2.66M▲ 0% | 4.02M▲ 51.0% | 5.19M▲ 29.1% | 3.35M▼ 35.4% | 8.07M▲ 140.7% | 17.83M▲ 121.0% | 3.15M▼ 82.3% |
| Gross Margin % | 36.92% | 44.52% | 47.94% | 38% | 36.93% | 58.63% | 35.14% |
| Gross Profit Growth % | - | 50.98% | 29.11% | -35.4% | 140.73% | 120.99% | -82.32% |
| Operating Expenses | 3.93M | 3.76M | 5.13M | 10.05M | 12.19M | 17.76M | 6.13M |
| OpEx % of Revenue | 54.49% | 41.65% | 47.39% | 113.94% | 55.79% | 58.42% | 68.31% |
| Selling, General & Admin | 3.43M | 3.45M | 4.43M | 9.41M | 10.5M | 9.14M | 6.08M |
| SG&A % of Revenue | 47.53% | 38.2% | 40.98% | 106.67% | 48.07% | 30.06% | 67.79% |
| Research & Development | 332.7K | 311.05K | 510.74K | 641.02K | 1.02M | 729.58K | 0 |
| R&D % of Revenue | 4.62% | 3.45% | 4.72% | 7.27% | 4.67% | 2.4% | - |
| Other Operating Expenses | 169.11K | 0 | 183.29K | -12.47K | 666.72K | 7.89M | 46.37K |
| Operating Income | -1.27M▲ 0% | 258.7K▲ 120.4% | 59.02K▼ 77.2% | -6.7M▼ 11445.8% | -4.12M▲ 38.5% | 64.77K▲ 101.6% | -2.98M▼ 4693.8% |
| Operating Margin % | -17.57% | 2.87% | 0.55% | -75.93% | -18.86% | 0.21% | -33.17% |
| Operating Income Growth % | - | 120.42% | -77.19% | -11445.83% | 38.48% | 101.57% | -4693.84% |
| EBITDA | -1.14M | 380.91K | 164.41K | -6.61M | -3.44M | 814.4K | -2.93M |
| EBITDA Margin % | -15.85% | 4.22% | 1.52% | -74.94% | -15.73% | 2.68% | -32.66% |
| EBITDA Growth % | - | 133.34% | -56.84% | -4119.29% | 48% | 123.7% | -459.63% |
| D&A (Non-Cash Add-back) | 124.41K | 122.21K | 105.39K | 87.88K | 683.02K | 749.64K | 46.37K |
| EBIT | -1.27M | 277.48K | 58.14K | -6.64M | -4.85M | -5.21M | -4.05M |
| Net Interest Income | -48.68K | -46.49K | -36.28K | 25.16K | -92.34K | -125.2K | -82.28K |
| Interest Income | 12 | 3.71K | 6.96K | 66.96K | 70.62K | 18.84K | 5.38K |
| Interest Expense | 48.69K | 50.2K | 43.24K | 41.8K | 162.97K | 144.03K | 87.66K |
| Other Income/Expense | -50.21K | -31.42K | -44.12K | 12.7K | -891.01K | -5.41M | -1.16M |
| Pretax Income | -1.32M▲ 0% | 227.28K▲ 117.3% | 14.9K▼ 93.4% | -6.68M▼ 44951.9% | -5.01M▲ 25.0% | -5.35M▼ 6.8% | -4.14M▲ 22.6% |
| Pretax Margin % | -18.27% | 2.52% | 0.14% | -75.79% | -22.94% | -17.59% | -46.15% |
| Income Tax | -56.06K | 72.22K | 341.94K | -5.92K | -133.66K | -136.82K | 44.9K |
| Effective Tax Rate % | 4.26% | 31.77% | 2294.78% | 0.09% | 2.67% | 2.56% | -1.08% |
| Net Income | -1.22M▲ 0% | 150.96K▲ 112.3% | -338.16K▼ 324.0% | -6.68M▼ 1874.7% | -4.19M▲ 37.3% | -1.48M▲ 64.6% | 5.79M▲ 491.1% |
| Net Margin % | -16.97% | 1.67% | -3.12% | -75.72% | -19.18% | -4.87% | 64.6% |
| Net Income Growth % | - | 112.34% | -324.01% | -1874.67% | 37.25% | 64.64% | 491.12% |
| Net Income (Continuing) | -1.26M | 155.06K | -327.04K | -6.68M | -4.88M | -5.21M | -4.18M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 9.68M |
| Minority Interest | 351.22K | 353.82K | 0 | 0 | 2.5M | -1.19M | -1.5M |
| EPS (Diluted) | -26.04▲ 0% | 3.12▲ 112.0% | -6.76▼ 316.7% | -152.00▼ 2148.5% | -84.00▲ 44.7% | -28.28▲ 66.3% | 88.00▲ 411.2% |
| EPS Growth % | - | 111.98% | -316.67% | -2148.52% | 44.74% | 66.33% | 411.17% |
| EPS (Basic) | -26.04 | 3.12 | -6.76 | -152.00 | -84.00 | -28.28 | 100.00 |
| Diluted Shares Outstanding | 48.41K | 48.41K | 48.41K | 44.13K | 51.01K | 52.35K | 63.65K |
| Basic Shares Outstanding | 48.41K | 48.41K | 48.41K | 44.13K | 51.01K | 52.35K | 57.68K |
| Dividend Payout Ratio | - | - | - | - | - | - | 57.04% |
HTCR Balance Sheet
HeartCore Enterprises, Inc. (HTCR) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.93M | 4.28M | 4.62M | 8.54M | 5.49M | 9.42M | 8.42M |
| Cash & Short-Term Investments | 535.29K | 3.06M | 3.14M | 7.18M | 1.95M | 6.62M | 5.68M |
| Cash Only | 535.29K | 3.06M | 3.14M | 7.18M | 1.01M | 2.12M | 1.99M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 942.35K | 4.5M | 3.69M |
| Accounts Receivable | 925.21K | 744.58K | 1.02M | 599.51K | 2.77M | 2.09M | 2.1M |
| Days Sales Outstanding | 46.84 | 30.11 | 34.4 | 24.81 | 46.26 | 25.09 | 85.43 |
| Inventory | 423.59K | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 34 | - | - | - | - | - | - |
| Other Current Assets | 47.7K | 63.88K | 15.65K | 220.07K | 234.76K | 251.54K | 640.58K |
| Total Non-Current Assets | 6.01M | 6.08M | 4.51M | 3.6M | 14.13M | 4.55M | 4.65M |
| Property, Plant & Equipment | 4.87M | 4.67M | 3.58M | 2.85M | 3.23M | 2.52M | 321.04K |
| Fixed Asset Turnover | 1.48x | 1.93x | 3.02x | 3.10x | 6.76x | 12.06x | 27.94x |
| Goodwill | 0 | 0 | 0 | 0 | 3.28M | 0 | 0 |
| Intangible Assets | 196.71K | 0 | 0 | 0 | 4.52M | 0 | 0 |
| Long-Term Investments | 198.5K | 400.85K | 340.27K | 246.47K | 2.39M | 577.79K | 0 |
| Other Non-Current Assets | 26.18K | 328.82K | 286.97K | 245.06K | 348.5K | 1.3M | 4.3M |
| Total Assets | 7.94M▲ 0% | 10.36M▲ 30.4% | 9.12M▼ 11.9% | 12.14M▲ 33.1% | 19.62M▲ 61.7% | 13.97M▼ 28.8% | 13.06M▼ 6.5% |
| Asset Turnover | 0.91x | 0.87x | 1.19x | 0.73x | 1.11x | 2.18x | 0.69x |
| Asset Growth % | - | 30.38% | -11.91% | 33.05% | 61.66% | -28.84% | -6.47% |
| Total Current Liabilities | 3.59M | 4.12M | 4.55M | 3.65M | 6.51M | 7.42M | 5.33M |
| Accounts Payable | 307.18K | 269.87K | 646.42K | 497.74K | 1.76M | 2.09M | 1.27M |
| Days Payables Outstanding | 24.65 | 19.67 | 41.87 | 33.23 | 46.55 | 60.54 | 79.76 |
| Short-Term Debt | 625.39K | 1.38M | 1.22M | 1.01M | 507.72K | 492.88K | 275.01K |
| Deferred Revenue (Current) | 1.76M | 2.02M | 1.69M | 1.72M | 2.17M | 1.88M | 676.22K |
| Other Current Liabilities | 226.95K | 187.8K | 730.77K | 53.43K | 779.17K | 1.08M | 1.22M |
| Current Ratio | 0.54x | 1.04x | 1.01x | 2.34x | 0.84x | 1.27x | 1.58x |
| Quick Ratio | 0.42x | 1.04x | 1.01x | 2.34x | 0.84x | 1.27x | 1.58x |
| Cash Conversion Cycle | 56.19 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 6.43M | 7.29M | 5.13M | 3.68M | 5.45M | 3.08M | 448.38K |
| Long-Term Debt | 1.97M | 3.02M | 1.87M | 1.12M | 1.77M | 1.24M | 448.38K |
| Capital Lease Obligations | 4.28M | 4.08M | 3.1M | 2.42M | 2.2M | 1.66M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 1.26M | 0 | 0 |
| Other Non-Current Liabilities | 185.82K | 185.48K | 156.63K | 138.02K | 208.73K | 183.9K | 0 |
| Total Liabilities | 10.03M | 11.42M | 9.68M | 7.33M | 11.96M | 10.5M | 5.78M |
| Total Debt | 7.3M | 8.49M | 6.19M | 4.55M | 4.89M | 3.78M | 756.18K |
| Net Debt | 6.76M | 5.43M | 3.05M | -2.62M | 3.88M | 1.66M | -1.23M |
| Debt / Equity | - | - | - | 0.95x | 0.64x | 1.09x | 0.10x |
| Debt / EBITDA | - | 22.29x | 37.66x | - | - | 4.64x | - |
| Net Debt / EBITDA | - | 14.27x | 18.58x | - | - | 2.03x | - |
| Interest Coverage | -26.05x | 5.53x | 1.34x | -158.89x | -29.74x | -36.14x | -46.22x |
| Total Equity | -2.08M▲ 0% | -1.06M▲ 49.1% | -558.95K▲ 47.3% | 4.81M▲ 960.1% | 7.67M▲ 59.5% | 3.46M▼ 54.8% | 7.28M▲ 110.4% |
| Equity Growth % | - | 49.07% | 47.28% | 960.11% | 59.47% | -54.84% | 110.36% |
| Book Value per Share | -43.00 | -21.90 | -11.55 | 108.95 | 150.29 | 66.13 | 114.42 |
| Total Shareholders' Equity | -2.43M | -1.41M | -558.95K | 4.81M | 5.17M | 4.65M | 8.78M |
| Common Stock | 1.36K | 1.52K | 1.55K | 1.76K | 2.08K | 2.19K | 2.54K |
| Retained Earnings | -4.17M | -4.01M | -3.9M | -10.57M | -14.76M | -16.24M | -13.76M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -72.5K | -136.89K | -15.17K | 364.84K | 331.88K | 343.94K | -58.5K |
| Minority Interest | 351.22K | 353.82K | 0 | 0 | 2.5M | -1.19M | -1.5M |
HTCR Cash Flow Statement
HeartCore Enterprises, Inc. (HTCR) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -685.8K | 745.75K | 766.3K | -4.81M | -4.33M | -4.77M | -3.97M |
| Operating CF Margin % | -9.51% | 8.26% | 7.08% | -54.53% | -19.83% | -15.7% | -44.29% |
| Operating CF Growth % | - | 208.74% | 2.76% | -727.5% | 9.93% | -10.25% | 16.82% |
| Net Income | -1.26M | 155.06K | -327.04K | -6.68M | -4.19M | -5.21M | -3.88M |
| Depreciation & Amortization | 124.41K | 114.47K | 105.39K | 83.33K | 683.02K | 749.64K | 46.37K |
| Stock-Based Compensation | 0 | 0 | 18.79K | 1.52M | 1.43M | 368.74K | 0 |
| Deferred Taxes | -62.66K | 69.59K | 329.83K | -1.61K | -291.6K | -1.08M | 9.19K |
| Other Non-Cash Items | 330.98K | 351.38K | 339.05K | 278.38K | -2.99M | -815.29K | -1.17M |
| Working Capital Changes | 178.25K | 55.24K | 300.29K | -10.93K | 1.02M | 1.21M | 1.02M |
| Change in Receivables | 145K | 237.57K | -341.11K | 296.83K | -337.19K | -193.37K | 322.04K |
| Change in Inventory | 137.5K | -357.64K | -216.14K | 0 | 0 | 0 | 0 |
| Change in Payables | -105.07K | 12.12K | 553.01K | -70.53K | 532.79K | 379.64K | -406.06K |
| Cash from Investing | -464.02K | -401.15K | -179.03K | -12.2K | -1.78M | 6.35M | 5.76M |
| Capital Expenditures | -30.82K | -27.17K | -36.15K | -57.07K | -526.26K | -7.45K | 0 |
| CapEx % of Revenue | 0.43% | 0.3% | 0.33% | 0.65% | 2.41% | 0.02% | 0% |
| Acquisitions | 0 | 0 | 0 | 0 | -724.91K | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -433.2K | -373.98K | -142.88K | 44.87K | -529.78K | 42.1K | 4.69M |
| Cash from Financing | 875.71K | 2.06M | -257.35K | 8.92M | 136.19K | -318.65K | -1.84M |
| Debt Issued (Net) | 428.31K | 1.14M | -932.26K | -587.13K | -23.71K | -428.18K | -239.89K |
| Equity Issued (Net) | 0 | 932.28K | 677.95K | -3.5M | 0 | 1.42M | 1.95M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | -834.57K | -3.3M |
| Share Repurchases | 0 | 0 | 0 | -3.5M | 0 | 0 | 0 |
| Other Financing | 447.4K | -11.52K | -3.03K | 13M | 159.9K | -479.24K | -247.15K |
| Net Change in Cash | -262.67K▲ 0% | 2.52M▲ 1060.5% | 78.66K▼ 96.9% | 4.04M▲ 5036.4% | -6.16M▼ 252.6% | 1.11M▲ 118.0% | 12.15K▼ 98.9% |
| Free Cash Flow | -716.63K▲ 0% | 718.58K▲ 200.3% | 730.15K▲ 1.6% | -4.87M▼ 766.4% | -4.86M▲ 0.2% | -4.78M▲ 1.5% | -3.97M▲ 16.9% |
| FCF Margin % | -9.94% | 7.96% | 6.75% | -55.18% | -22.24% | -15.73% | -44.29% |
| FCF Growth % | - | 200.27% | 1.61% | -766.39% | 0.17% | 1.55% | 16.95% |
| FCF per Share | -14.80 | 14.84 | 15.08 | -110.27 | -95.22 | -91.35 | -62.40 |
| FCF Conversion (FCF/Net Income) | 0.56x | 4.94x | -2.27x | 0.72x | 1.03x | 3.22x | -0.69x |
| Interest Paid | 34.66K | 26.73K | 25.08K | 41.85K | 85.63K | 143.1K | 109.44K |
| Taxes Paid | 4.19K | 5.43K | 9.62K | 3.01K | 91.71K | 298.47K | 211.84K |
HTCR Key Ratios
HeartCore Enterprises, Inc. (HTCR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | - | -314.33% | -67.18% | -26.62% | 107.84% |
| Return on Invested Capital (ROIC) | -20.29% | 4.29% | 1.29% | -214.61% | -44.99% | 0.58% | -39.95% |
| Gross Margin | 36.92% | 44.52% | 47.94% | 38% | 36.93% | 58.63% | 35.14% |
| Net Margin | -16.97% | 1.67% | -3.12% | -75.72% | -19.18% | -4.87% | 64.6% |
| Debt / Equity | - | - | - | 0.95x | 0.64x | 1.09x | 0.10x |
| Interest Coverage | -26.05x | 5.53x | 1.34x | -158.89x | -29.74x | -36.14x | -46.22x |
| FCF Conversion | 0.56x | 4.94x | -2.27x | 0.72x | 1.03x | 3.22x | -0.69x |
| Revenue Growth | - | 25.21% | 19.9% | -18.52% | 147.73% | 39.19% | -70.5% |
HTCR Frequently Asked Questions
HeartCore Enterprises, Inc. (HTCR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
HeartCore Enterprises, Inc. (HTCR) reported $13.2M in revenue for fiscal year 2025. This represents a 84% increase from $7.2M in 2019.
HeartCore Enterprises, Inc. (HTCR) saw revenue decline by 70.5% over the past year.
Yes, HeartCore Enterprises, Inc. (HTCR) is profitable, generating $5.8M in net income for fiscal year 2025 (64.6% net margin).
Dividend & Returns
Yes, HeartCore Enterprises, Inc. (HTCR) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.
HeartCore Enterprises, Inc. (HTCR) has a return on equity (ROE) of 107.8%. This is excellent, indicating efficient use of shareholder capital.
HeartCore Enterprises, Inc. (HTCR) had negative free cash flow of $3.7M in fiscal year 2025, likely due to heavy capital investments.
Explore More HTCR
HeartCore Enterprises, Inc. (HTCR) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates