Lichen International Limited(LICN)Earnings, Financials & Key Ratios

LICN•NASDAQ

$4.28

$1M mkt cap·Price updated May 6, 2026

SectorIndustrials IndustryBusiness Services Sub-IndustryProfessional Advisory and Compliance 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 Margin61.9%+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/Equity0.00-61.6%

Technical→

LICN Key Insights

Lichen International Limited (LICN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 85 (top 15%)
✓Share count reduced 43.9% through buybacks
✓Healthy 5Y average net margin of 15.0%
✓Trading at only 0.8x book value

✗Weaknesses

✗Negative free cash flow
✗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.

LICN Price & Volume

Lichen International Limited (LICN) stock price & volume — 10-year historical chart

Loading chart...

LICN Growth Metrics

Lichen International Limited (LICN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years5.59%

3 Years6.54%

TTM18.69%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-166.71%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-6035.76%

Return on Capital

10 Years46.68%

5 Years22.75%

3 Years14.83%

Last Year-6.64%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
FEDUFour Seasons Education (Cayman) Inc.Direct Competitor	2.23M	10.50	18.84	100.15%	0.32%	0.16%		0.19
COE51Talk Online Education GroupDirect Competitor	2.7M	28.01	-0.39	86.98%	-13.42%		100%
GOTUGaotu Techedu Inc.Direct Competitor	740.5M	1.92	-4.74	55.99%	-6.4%	-21.76%	1.58%	0.25
TALTAL Education GroupProduct Competitor	743.75M	11.00	8.73	51.22%	6.45%	4.72%	38.41%	0.09
EDUNew Oriental Education & Technology Group Inc.Product Competitor	8.56B	53.77	23.38	13.6%	7.37%	9.09%	7.45%	0.20
DAOYoudao, Inc.Product Competitor	351.6M	11.24		3.56%	1.82%
IQiQIYI, Inc.Product Competitor	1.17B	1.21	10.67	-8.31%	-1.44%	-2.92%	24.28%	1.06
BIDUBaidu, Inc.Supply Chain	44.15B	126.24	13.06	-1.09%	6.9%	3.13%	4.35%	0.28

Compare LICN vs Peers

Lichen International Limited (LICN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FEDU

Most directly comparable listed peer for LICN.

Scale Benchmark

vs BIDU

Larger-name benchmark to compare LICN against a more recognizable public peer.

Peer Set

Compare Top 5

vs FEDU, COE, GOTU, TAL

LICN Income Statement

Lichen International Limited (LICN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'15	Dec'16	Dec'17	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	14.76M	20.78M	25.58M	31.6M	30.67M	34.3M	33.8M	39.76M	41.48M	79.57M
Revenue Growth %	59.3%	40.78%	23.09%	23.54%	-2.96%	11.83%	-1.43%	17.61%	4.32%	18.69%
Cost of Goods Sold	4.23M	5.61M	7.35M	12.26M	11.83M	13.82M	13.61M	15.44M	15.8M	32.81M
COGS % of Revenue	28.66%	26.98%	28.72%	38.79%	38.58%	40.3%	40.27%	38.83%	38.1%	-
Gross Profit	10.53M▲ 0%	15.17M▲ 44.1%	18.24M▲ 20.2%	19.34M▲ 6.1%	18.84M▼ 2.6%	20.48M▲ 8.7%	20.19M▼ 1.4%	24.32M▲ 20.4%	25.67M▲ 5.6%	46.76M▲ 0%
Gross Margin %	71.34%	73.02%	71.28%	61.21%	61.42%	59.7%	59.73%	61.17%	61.9%	58.77%
Gross Profit Growth %	70.04%	44.07%	20.17%	6.07%	-2.62%	8.7%	-1.38%	20.44%	5.57%	-
Operating Expenses	5.14M	6.55M	8.93M	9.62M	10.05M	9.18M	9.54M	12.06M	30.23M	47.14M
OpEx % of Revenue	34.82%	31.5%	34.91%	30.42%	32.77%	26.76%	28.23%	30.34%	72.87%	-
Selling, General & Admin	4.74M	6.15M	8.31M	9.62M	10.05M	9.18M	9.54M	12.06M	30.23M	47.15M
SG&A % of Revenue	32.14%	29.59%	32.49%	30.42%	32.77%	26.76%	28.23%	30.34%	72.87%	-
Research & Development	396.65K	397.38K	620.13K	0	930K	1.08M	1.06M	1.19M	1.38M	2.57M
R&D % of Revenue	2.69%	1.91%	2.42%	-	3.03%	3.15%	3.14%	2.99%	3.33%	-
Other Operating Expenses	0	0	0	0	-930K	-1.08M	-1.06M	-1.19M	-1.38M	-2M
Operating Income	5.39M▲ 0%	8.63M▲ 60.0%	9.3M▲ 7.8%	9.73M▲ 4.5%	8.79M▼ 9.7%	11.3M▲ 28.6%	10.65M▼ 5.8%	12.26M▲ 15.1%	-4.55M▼ 137.1%	-391K▲ 0%
Operating Margin %	36.52%	41.52%	36.37%	30.78%	28.65%	32.94%	31.5%	30.83%	-10.97%	-0.49%
Operating Income Growth %	119.41%	60.03%	7.84%	4.55%	-9.67%	28.58%	-5.75%	15.13%	-137.12%	-
EBITDA	5.59M	8.93M	9.76M	11.92M	9.59M	13.75M	11.35M	13.01M	-1.68M	4.67M
EBITDA Margin %	37.89%	42.98%	38.16%	37.71%	31.28%	40.09%	33.57%	32.73%	-4.04%	5.86%
EBITDA Growth %	119.29%	59.71%	9.27%	22.09%	-19.51%	43.31%	-17.45%	14.65%	-112.88%	-76.24%
D&A (Non-Cash Add-back)	202.06K	305.26K	457.22K	2.19M	806K	2.45M	701K	753K	2.88M	5.06M
EBIT	5.42M	8.65M	9.36M	9.78M	8.79M	11.3M	10.65M	12.26M	-4.55M	-391K
Net Interest Income	0	0	0	0	103K	28K	60K	38K	163K	189K
Interest Income	11.61K	17.76K	31.52K	49K	103K	28K	60K	38K	163K	189K
Interest Expense	0	0	0	49K	0	0	0	0	0	0
Other Income/Expense	28.96K	23.93K	59.18K	5K	209K	216K	94K	-671K	379K	-3.44M
Pretax Income	5.42M▲ 0%	8.65M▲ 59.6%	9.36M▲ 8.2%	9.73M▲ 3.9%	9M▼ 7.6%	11.51M▲ 28.0%	10.74M▼ 6.7%	11.59M▲ 7.9%	-4.17M▼ 136.0%	-3.83M▲ 0%
Pretax Margin %	36.72%	41.63%	36.6%	30.8%	29.33%	33.57%	31.78%	29.15%	-10.06%	-4.81%
Income Tax	1.46M	2.42M	2.86M	2.66M	2.59M	3.05M	2.92M	3.25M	1.95M	4.49M
Effective Tax Rate %	26.95%	27.97%	30.53%	27.36%	28.78%	26.51%	27.22%	28.05%	-46.69%	-117.2%
Net Income	3.96M▲ 0%	5.82M▲ 46.8%	6.51M▲ 11.8%	7.07M▲ 8.7%	6.41M▼ 9.4%	8.46M▲ 32.1%	7.82M▼ 7.6%	8.34M▲ 6.7%	-6.14M▼ 173.6%	-8.51M▲ 0%
Net Margin %	26.85%	28%	25.43%	22.37%	20.89%	24.67%	23.13%	20.97%	-14.8%	-10.7%
Net Income Growth %	117.43%	46.82%	11.8%	8.68%	-9.38%	32.07%	-7.61%	6.65%	-173.63%	-166.71%
Net Income (Continuing)	3.96M	6.23M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.12M	-8.32M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-4.62K	0	0	0	0	0	0	0	2.38M	0
EPS (Diluted)	0.14▲ 0%	0.20▲ 42.9%	0.23▲ 15.0%	0.25▲ 8.7%	0.22▼ 12.0%	0.29▲ 31.8%	69.49▲ 23862.1%	63.96▼ 8.0%	-0.41▼ 100.6%	-30.10▲ 0%
EPS Growth %	122.22%	42.86%	15%	8.7%	-12%	31.82%	23862.07%	-7.96%	-100.64%	-6035.76%
EPS (Basic)	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	22.5M	26.51M	14.87M	282.85K
Basic Shares Outstanding	28.75M	28.75M	28.75M	28.75M	28.75M	28.75M	22.5M	26.51M	14.87M	282.85K
Dividend Payout Ratio	-	51.73%	-	102.52%	67.86%	-	-	-	-	-

LICN Balance Sheet

Lichen International Limited (LICN) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'15	Dec'16	Dec'17	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	10.7M	12.62M	10.84M	7.42M	11.65M	23.89M	27.27M	40.13M	34.01M	28.32M
Cash & Short-Term Investments	1.72M	4.62M	5.01M	5.39M	8.66M	16.84M	22.6M	25.86M	26.71M	22.57M
Cash Only	1.72M	4.62M	5.01M	5.39M	8.66M	16.84M	22.6M	25.86M	26.71M	22.57M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	4.24M	2.47M	2.39M	1.88M	2.83M	4.36M	3.54M	4.46M	7.09M	2.13M
Days Sales Outstanding	104.94	43.39	34.06	21.72	33.72	46.41	38.28	40.97	62.43	19.09
Inventory	49.13K	34.25K	38.7K	33K	23K	150K	127K	87K	67K	0
Days Inventory Outstanding	4.24	2.23	1.92	0.98	0.71	3.96	3.41	2.06	1.55	0.58
Other Current Assets	4.62M	5.47M	3.38M	118K	48K	2.24M	46K	5.72M	74K	3.43M
Total Non-Current Assets	779.23K	2.11M	11.01M	21.37M	21.7M	19.05M	19.26M	25.41M	45.83M	38.88M
Property, Plant & Equipment	387.77K	1.19M	10.26M	15.46M	15.77M	14.94M	13.5M	14.76M	13.75M	7.31M
Fixed Asset Turnover	38.07x	17.53x	2.49x	2.04x	1.94x	2.30x	2.50x	2.69x	3.02x	6.36x
Goodwill	0	0	0	0	0	0	0	0	4.45M	4.45M
Intangible Assets	0	0	0	5.51M	5.59M	3.87M	4.52M	6.03M	11.05M	9.51M
Long-Term Investments	0	0	0	0	0	0	0	0	145K	1.33M
Other Non-Current Assets	391.46K	923.66K	743.55K	401K	337K	250K	1.24M	4.63M	16.43M	42.04M
Total Assets	11.48M▲ 0%	14.73M▲ 28.2%	21.85M▲ 48.4%	28.79M▲ 31.8%	33.35M▲ 15.8%	42.94M▲ 28.8%	46.52M▲ 8.3%	65.55M▲ 40.9%	79.84M▲ 21.8%	67.21M▲ 0%
Asset Turnover	1.29x	1.41x	1.17x	1.10x	0.92x	0.80x	0.73x	0.61x	0.52x	1.12x
Asset Growth %	127.21%	28.23%	48.37%	31.77%	15.83%	28.77%	8.34%	40.88%	21.81%	84.46%
Total Current Liabilities	3.09M	3.82M	3.28M	5.07M	5.71M	6.11M	5.23M	4.09M	4.27M	2.78M
Accounts Payable	42.35K	108.35K	46.38K	85K	95K	123K	161K	61K	55K	0
Days Payables Outstanding	3.65	7.05	2.3	2.53	2.93	3.25	4.32	1.44	1.27	0.54
Short-Term Debt	0	0	0	315K	337K	345K	88K	0	0	78K
Deferred Revenue (Current)	0	0	0	1.18M	1.1M	1.27M	1.15M	1.03M	696K	2.58M
Other Current Liabilities	3.05M	3.72M	3.23M	3.41M	3.57M	3.77M	3.75M	1.68M	150K	412K
Current Ratio	3.46x	3.30x	3.31x	1.47x	2.04x	3.91x	5.21x	9.81x	7.96x	7.96x
Quick Ratio	3.45x	3.29x	3.30x	1.46x	2.04x	3.88x	5.19x	9.79x	7.95x	7.95x
Cash Conversion Cycle	105.53	38.57	33.68	20.18	31.5	47.13	37.36	41.59	62.7	19.12
Total Non-Current Liabilities	0	0	0	0	0	1.74M	184K	34K	5K	176K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	184K	34K	5K	223K
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	3.09M	3.82M	3.28M	5.07M	5.71M	6.11M	5.42M	4.13M	4.28M	2.96M
Total Debt	0	0	0	315K	337K	345K	272K	129K	61K	357K
Net Debt	-1.72M	-4.62M	-5.01M	-5.08M	-8.33M	-16.5M	-22.33M	-25.73M	-26.65M	-22.22M
Debt / Equity	-	-	-	0.01x	0.01x	0.01x	0.01x	0.00x	0.00x	0.00x
Debt / EBITDA	-	-	-	0.03x	0.04x	0.03x	0.02x	0.01x	-	0.08x
Net Debt / EBITDA	-0.31x	-0.52x	-0.51x	-0.43x	-0.87x	-1.20x	-1.97x	-1.98x	-	-4.76x
Interest Coverage	-	-	-	199.63x	-	-	-	-	-	-
Total Equity	8.39M▲ 0%	10.9M▲ 29.9%	18.57M▲ 70.4%	23.73M▲ 27.8%	27.64M▲ 16.5%	36.83M▲ 33.2%	41.11M▲ 11.6%	61.42M▲ 49.4%	75.56M▲ 23.0%	64.25M▲ 0%
Equity Growth %	124.3%	29.88%	70.37%	27.75%	16.51%	33.24%	11.61%	49.41%	23.03%	95.49%
Book Value per Share	0.29	0.38	0.65	0.83	0.96	1.28	1.83	2.32	5.08	227.16
Total Shareholders' Equity	8.4M	10.9M	18.57M	23.73M	27.64M	36.83M	41.11M	61.42M	73.18M	64.25M
Common Stock	0	144	154	1K	1K	1K	1K	1K	4K	6K
Retained Earnings	6.25M	7.42M	14.67M	22.49M	24.55M	33.01M	40.83M	48.22M	42.08M	34.46M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	2.15M	2.14M	2.47M	-256K	1.6M	2.33M	-1.21M	-1.7M	-2.26M	-3.84M
Minority Interest	-4.62K	0	0	0	0	0	0	0	2.38M	0

LICN Cash Flow Statement

Lichen International Limited (LICN) cash flow — operating, investing & free cash flow history

Line item	Dec'15	Dec'16	Dec'17	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	3.72M	8.8M	6.36M	13.57M	8.35M	7.3M	10.77M	557K	-5.57M	-5.57M
Operating CF Margin %	25.18%	42.33%	24.88%	42.94%	27.23%	21.3%	31.85%	1.4%	-13.43%	-
Operating CF Growth %	195.04%	136.71%	-27.66%	113.21%	-38.46%	-12.53%	47.4%	-94.83%	-1100.36%	1376.5%
Net Income	3.96M	5.82M	6.51M	7.07M	6.41M	8.46M	7.82M	8.34M	-6.12M	-8.51M
Depreciation & Amortization	202.06K	305.26K	457.22K	2.19M	2.16M	2.45M	2.68M	2.92M	2.88M	5.28M
Stock-Based Compensation	0	0	0	0	0	0	0	0	3.41M	1.01M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	2.31M	526.98K	-604.74K	-5K	87K	63K	50K	72K	109K	6.44M
Working Capital Changes	-899.74K	1.38M	460.33K	4.31M	-304K	-3.67M	217K	-10.78M	-5.85M	-10.96M
Change in Receivables	-2.88M	1.27M	136.43K	-2.36M	-465K	-1.45M	66K	-982K	642K	1.07M
Change in Inventory	-14.32K	12.19K	-2.07K	3K	11K	-126K	11K	38K	19K	130K
Change in Payables	1.44M	100.4K	325.97K	64K	4K	25K	51K	-98K	-4K	15K
Cash from Investing	-4.9M	-2.96M	-6.53M	-10.83M	-1.16M	561K	-2.84M	-9.87M	-9.89M	-12.51M
Capital Expenditures	-122.99K	-1.76M	-4.46M	-10.83M	-1.16M	-28K	-2.84M	-5.27M	-36K	-2.33M
CapEx % of Revenue	0.83%	8.45%	17.42%	34.26%	3.78%	0.08%	8.41%	13.25%	0.09%	-
Acquisitions	0	4.52K	0	0	0	589K	0	0	-3.96M	-2.41M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.77M	-1.2M	-2.07M	0	0	0	0	-4.6M	-5.9M	-7.77M
Cash from Financing	2.3M	-2.66M	244K	-8.99M	-4.35M	0	-327K	14.1M	13.09M	18.18M
Debt Issued (Net)	0	0	0	0	0	0	-327K	0	0	0
Equity Issued (Net)	1.02M	0	0	0	0	0	0	14.1M	12.22M	18.1M
Dividends Paid	0	-3.01M	0	-7.25M	-4.35M	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	1.28M	346.5K	244K	-1.74M	0	0	0	0	866K	78K
Net Change in Cash	1.12M▲ 0%	2.9M▲ 158.9%	390.18K▼ 86.6%	376.18K▼ 3.6%	3.27M▲ 770.6%	8.18M▲ 149.8%	5.75M▼ 29.7%	3.26M▼ 43.4%	856K▼ 73.7%	26.09M▲ 0%
Free Cash Flow	3.59M▲ 0%	7.04M▲ 95.9%	1.91M▼ 72.9%	2.74M▲ 43.6%	7.19M▲ 162.3%	7.28M▲ 1.2%	7.92M▲ 8.9%	-2.65M▼ 133.4%	-11.51M▼ 334.6%	-9.07M▲ 0%
FCF Margin %	24.34%	33.88%	7.46%	8.67%	23.45%	21.22%	23.44%	-6.66%	-27.74%	-11.4%
FCF Growth %	815.02%	95.94%	-72.9%	43.62%	162.31%	1.2%	8.91%	-133.4%	-334.64%	-231.51%
FCF per Share	0.12	0.24	0.07	0.10	0.25	0.25	0.35	-0.10	-0.77	-0.77
FCF Conversion (FCF/Net Income)	0.94x	1.51x	0.98x	1.92x	1.30x	0.86x	1.38x	0.07x	0.91x	1.07x
Interest Paid	0	0	0	0	15K	15K	1K	0	0	0
Taxes Paid	0	0	0	0	2.31M	2.98M	2.96M	2.63M	2.41M	0

LICN Key Ratios

Lichen International Limited (LICN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2015	2016	2017	2019	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	65.32%	60.32%	44.15%	33.43%	24.95%	26.25%	20.06%	16.26%	-8.96%	-12.57%
Return on Invested Capital (ROIC)	82.95%	99.95%	70.37%	45.31%	34.72%	42.74%	40.83%	33.76%	-8.07%	-8.07%
Gross Margin	71.34%	73.02%	71.28%	61.21%	61.42%	59.7%	59.73%	61.17%	61.9%	58.77%
Net Margin	26.85%	28%	25.43%	22.37%	20.89%	24.67%	23.13%	20.97%	-14.8%	-10.7%
Debt / Equity	-	-	-	0.01x	0.01x	0.01x	0.01x	0.00x	0.00x	0.00x
Interest Coverage	-	-	-	199.63x	-	-	-	-	-	-
FCF Conversion	0.94x	1.51x	0.98x	1.92x	1.30x	0.86x	1.38x	0.07x	0.91x	1.07x
Revenue Growth	59.3%	40.78%	23.09%	23.54%	-2.96%	11.83%	-1.43%	17.61%	4.32%	18.69%

LICN Frequently Asked Questions

Lichen International Limited (LICN) stock FAQ — growth, dividends, profitability & financials explained

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.

Explore More LICN

Lichen International Limited (LICN) 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

→

Lichen International Limited(LICN)Earnings, Financials & Key Ratios

LICN Key Insights

✓Strengths

✗Weaknesses

LICN Price & Volume

LICN Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

LICN Peer Comparison

Compare LICN vs Peers

vs FEDU

vs BIDU

Compare Top 5

LICN Income Statement

LICN Balance Sheet

LICN Cash Flow Statement

LICN Key Ratios

LICN Frequently Asked Questions

Explore More LICN

Total Return Calculator

DCA Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Valuation