Revenue has contracted to $7.2 million in 2025Q4, while gross margins have deteriorated significantly from historical peaks above 60% to a current level of 3.5%.
| Sales/Revenue | 12.22M | 15.01M | 24.12M | 24.31M | 22.37M | 15.51M | 13.23M | 13.58M |
| Revenue Growth % | -18.62% | -37.76% | -0.76% | 8.66% | 44.23% | 17.22% | -2.57% | - |
| Cost of Goods Sold | 11.2M | 11.08M | 11.34M | 11.66M | 10.89M | 7.71M | 7.28M | 8.02M |
| COGS % of Revenue | 91.66% | 73.82% | 47% | 47.96% | 48.67% | 49.73% | 54.99% | 59.03% |
| Gross Profit | 1.02M | 3.93M | 12.78M | 12.65M | 11.48M | 7.8M | 5.95M | 5.56M |
| Gross Margin % | 8.34% | 26.18% | 53% | 52.04% | 51.33% | 50.27% | 45.01% | 40.97% |
| Gross Profit Growth % | -74.07% | -69.26% | 1.06% | 10.18% | 47.27% | 30.92% | 7.03% | - |
| Operating Expenses | 2.19M | 1.85M | 1.38M | 738K | 2M | 1.21M | 404.64K | 235.6K |
| OpEx % of Revenue | 17.96% | 12.32% | 5.71% | 3.04% | 8.95% | 7.82% | 3.06% | 1.74% |
| Selling, General & Admin | 2.22M | 1.85M | 1.38M | 738K | 1.95M | 1.21M | 404.64K | 235.6K |
| SG&A % of Revenue | 18.14% | 12.32% | 5.71% | 3.04% | 8.73% | 7.82% | 3.06% | 1.74% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -21K | 0 | 0 | 0 | 48K | 0 | 0 | 0 |
| Operating Income | -902K | 2.08M | 11.41M | 11.91M | 9.48M | 6.58M | 5.55M | 5.33M |
| Operating Margin % | -7.38% | 13.85% | 47.28% | 49.01% | 42.38% | 42.45% | 41.95% | 39.24% |
| Operating Income Growth % | -143.37% | -81.76% | -4.25% | 25.65% | 44.01% | 18.61% | 4.17% | - |
| EBITDA | 289K | 3.19M | 12.52M | 12.85M | 10.3M | 7.14M | 5.97M | 5.75M |
| EBITDA Margin % | 2.37% | 21.23% | 51.89% | 52.87% | 46.05% | 46.07% | 45.14% | 42.36% |
| EBITDA Growth % | -90.93% | -74.53% | -2.6% | 24.77% | 44.16% | 19.65% | 3.82% | - |
| D&A (Non-Cash Add-back) | 1.19M | 1.11M | 1.11M | 939K | 820K | 562K | 421.57K | 424.21K |
| EBIT | -902K | 2.15M | 11.53M | 12.01M | 9.57M | 6.65M | 6.22M | 5.77M |
| Net Interest Income | 71K | -72K | -69K | -7K | -5K | 4K | 11.14K | 11.94K |
| Interest Income | 86K | 78K | 80K | 65K | 46K | 33K | 46.74K | 29.47K |
| Interest Expense | 15K | 150K | 149K | 72K | 51K | 29K | 35.6K | 17.53K |
| Other Income/Expense | 1.76M | -77K | -23K | 29K | 36K | 40K | -416.07K | 387.79K |
| Pretax Income | 863K | 2M | 11.38M | 11.94M | 9.52M | 6.62M | 5.13M | 5.72M |
| Pretax Margin % | 7.06% | 13.34% | 47.19% | 49.13% | 42.54% | 42.7% | 38.81% | 42.09% |
| Income Tax | 182K | -85K | -118K | 88K | 133K | 26K | 54.56K | 56.22K |
| Effective Tax Rate % | 21.09% | -4.24% | -1.04% | 0.74% | 1.4% | 0.39% | 1.06% | 0.98% |
| Net Income | 681K | 2.09M | 11.5M | 11.85M | 9.38M | 6.6M | 5.08M | 5.66M |
| Net Margin % | 5.57% | 13.91% | 47.68% | 48.77% | 41.95% | 42.54% | 38.39% | 41.68% |
| Net Income Growth % | -67.39% | -81.85% | -2.97% | 26.32% | 42.23% | 29.87% | -10.25% | - |
| Net Income (Continuing) | 681K | 2.09M | 11.5M | 11.85M | 9.38M | 6.6M | 5.08M | 5.66M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.36 | 13.60 | 40.00 | 36.80 | 32.80 | 26.40 | 0.00 | 0.00 |
| EPS Growth % | -90% | -66% | 8.7% | 12.2% | 24.24% | - | - | - |
| EPS (Basic) | 1.36 | 13.60 | 44.80 | 43.20 | 32.80 | 26.40 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 501.55K | 155.13K | 287.5K | 325K | 287.5K | 250K | 0 | 0 |
| Basic Shares Outstanding | 501.55K | 155.13K | 256.25K | 271.88K | 287.5K | 250K | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Core business model erosion
As reported in recent financial filings, Oriental Rise Holdings has experienced a significant downward trajectory in top-line performance, with revenue falling to $7.2 million in 2025Q4, reflecting a broader struggle to maintain volume in a highly competitive and fragmented regional tea processing market.
The consistent decline in quarterly revenue suggests that the company's core processing business lacks the pricing power or market demand to sustain historical levels. Investors should monitor whether this contraction is a result of intentional volume shedding to improve quality or a fundamental loss of market share to more integrated national competitors.
Based on the company's latest income statement data, gross margins have deteriorated sharply from historical peaks above 60% to a mere 3.5% in 2025Q4, indicating that the firm's tea processing operations are currently operating near a break-even point on a variable cost basis.
This collapse in gross margin suggests that the company is highly susceptible to fluctuations in raw tea leaf procurement costs. The inability to pass these costs onto customers implies a lack of brand equity, effectively relegating the company to a low-margin commodity processor role.
According to the provided income statement, ORIS has failed to achieve positive operating leverage, as evidenced by the -15.0% operating margin reported in 2025Q4, which highlights the company's inability to scale its fixed administrative costs against a shrinking revenue base.
The persistent negative operating income suggests that the current cost structure is misaligned with the company's reduced scale of operations. Without a significant pivot toward higher-value products or a drastic reduction in overhead, the company may continue to struggle to achieve sustainable operating profitability.
Analysis of the income statement reveals a recurring discrepancy where net income remains positive despite consistent operating losses, suggesting that the company's reported profitability is primarily driven by non-operating items rather than core tea processing activities.
Investors should exercise caution, as the net income figures appear to be supported by interest income or other non-core gains rather than operational efficiency. This reliance on non-operating income warrants further investigation into the sustainability of these gains, as they do not reflect the underlying health of the tea business.
While the company maintains a strong cash position, the lack of reinvestment into the core business, as shown in the financial data, raises questions about the long-term viability of the firm as an operating entity versus a stagnant investment vehicle.
Short-sellers would likely focus on the disconnect between the company's cash reserves and its inability to generate positive operating cash flow. The risk remains that the company's primary value proposition is tied to its liquid assets rather than its ability to compete in the tea industry.
Quick answers to the most common questions about buying ORIS stock.
For fiscal year 2025, ORIENTAL RISE HOLDINGS Ltd (ORIS) reported total revenue of $12.2M. This represents a 10.0% decline compared to $13.6M in 2018.
ORIENTAL RISE HOLDINGS Ltd (ORIS) is profitable, generating $0.7M in net income for the fiscal year ending 2025 with a net profit margin of 5.6%.
ORIENTAL RISE HOLDINGS Ltd (ORIS) reported an operating income of $-0.9M, resulting in an operating profit margin of -7.4%. This margin reflects the operational efficiency of the business before interest and taxes.
ORIENTAL RISE HOLDINGS Ltd (ORIS) generated $1.0M in gross profit for the year, representing a gross profit margin of 8.3%. This demonstrates the company's core pricing power and production efficiency.