Erayak Power Solution Group Inc.(RAYA)Earnings, Financials & Key Ratios
RAYA•NASDAQ
$4.48
$400947 mkt cap·Price updated May 7, 2026
AboutErayak Power Solution Group Inc., through its subsidiaries, engages in the research and development, manufacture, and wholesale and retail of power solution products. Its product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products. The company's products are used in agricultural and industrial vehicles, recreational vehicles, electrical appliances, and outdoor living products. It operates in the People's Republic of China, France, Poland, Mexico, and the United Kingdom. The company was founded in 2009 and is based in Wenzhou, the People's Republic of China. Erayak Power Solution Group Inc. operates as a subsidiary of Erayak International Limited.Show more
- Revenue$23M-24.6%
- EBITDA-$189K+57.3%
- Net Income-$1M-24.5%
- EPS (Diluted)-272.80-363633.3%
- Gross Margin21.32%+61.8%
- EBITDA Margin-0.83%+43.4%
- Operating Margin-6.35%-23.0%
- Net Margin-6.08%-65.1%
- ROE-4.49%+5.8%
- ROIC-2.77%+43.8%
- Debt/Equity0.35+83.4%
- Interest Coverage-2.98+56.6%
RAYA Key Insights
Erayak Power Solution Group Inc. (RAYA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 10.1%
- ✓Share count reduced 100.0% through buybacks
- ✓Trading at only 0.0x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 1 (bottom 1%)
- ✗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.
RAYA Price & Volume
Erayak Power Solution Group Inc. (RAYA) stock price & volume — 10-year historical chart
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RAYA Growth Metrics
Erayak Power Solution Group Inc. (RAYA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years10.11%
3 Years-5.3%
TTM12.58%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-153.38%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-2692.93%
Return on Capital
10 Years23.14%
5 Years12.35%
3 Years-2.19%
Last Year-4.2%
RAYA Peer Comparison
Erayak Power Solution Group Inc. (RAYA) competitors in Power Conversion and Power Electronics — 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 |
|---|---|---|---|---|---|---|---|---|
 CBAT | 70.4M | 0.79 | 6.04 | -13.61% | -4.03% | -5.5% | 0.25 | |
 NRGV | 716.12M | 4.14 | -6.37 | 340.86% | -52.97% | -146.8% | 1.07 | |
 MVST | 610.74M | 1.89 | -21 | 12.56% | -6.83% | -7.4% | 0.45 | |
 GNRC | 15.65B | 266.77 | 99.17 | -2.02% | 4.37% | 7.18% | 0.51 | |
 ARRY | 1.25B | 8.20 | -11.23 | 40.22% | -5.56% | -20.64% | 2.94 | |
 SHLS | 1.32B | 7.84 | 39.20 | 19.07% | 6.27% | 5.67% | 0.29 | |
 POWL | 11.14B | 305.93 | 61.76 | 9.08% | 16.51% | 28.61% | 0.00 | |
 ACHR | 4.67B | 6.28 | -6.34 | -2060.67% | -37.76% | 0.02 |
Compare RAYA vs Peers
Erayak Power Solution Group Inc. (RAYA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
RAYA Income Statement
Erayak Power Solution Group Inc. (RAYA) 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 | 8.95M | 14.12M | 18.63M | 26.91M | 20.32M | 30.3M | 22.86M |
| Revenue Growth % | - | 57.8% | 31.92% | 44.45% | -24.48% | 49.1% | -24.57% |
| Cost of Goods Sold | 6.69M | 10.28M | 12.91M | 20.29M | 15.38M | 26.31M | 17.98M |
| COGS % of Revenue | 74.8% | 72.77% | 69.3% | 75.4% | 75.69% | 86.82% | 78.68% |
| Gross Profit | 2.25M▲ 0% | 3.8M▲ 68.5% | 5.67M▲ 49.3% | 6.62M▲ 16.7% | 4.94M▼ 25.3% | 3.99M▼ 19.2% | 4.87M▲ 22.0% |
| Gross Margin % | 25.2% | 26.9% | 30.45% | 24.6% | 24.31% | 13.18% | 21.32% |
| Gross Profit Growth % | - | 68.48% | 49.31% | 16.69% | -25.35% | -19.2% | 22.02% |
| Operating Expenses | 1.41M | 1.49M | 2.19M | 2.55M | 4.19M | 5.56M | 6.32M |
| OpEx % of Revenue | 15.79% | 10.55% | 11.74% | 9.48% | 20.64% | 18.34% | 27.67% |
| Selling, General & Admin | 837.23K | 824.87K | 1.06M | 1.51M | 2.79M | 3.11M | 4.66M |
| SG&A % of Revenue | 9.36% | 5.84% | 5.69% | 5.61% | 13.72% | 10.27% | 20.38% |
| Research & Development | 508.86K | 605.12K | 986.88K | 932.27K | 1.18M | 1.67M | 1.61M |
| R&D % of Revenue | 5.69% | 4.29% | 5.3% | 3.46% | 5.79% | 5.51% | 7.04% |
| Other Operating Expenses | 67.09K | 60.18K | 139.74K | 109.63K | 230.08K | 775.38K | 58.02K |
| Operating Income | 892.68K▲ 0% | 2.31M▲ 158.6% | 3.49M▲ 51.0% | 4.07M▲ 16.7% | 746.77K▼ 81.6% | -1.57M▼ 309.6% | -1.45M▲ 7.2% |
| Operating Margin % | 9.97% | 16.35% | 18.71% | 15.12% | 3.67% | -5.17% | -6.35% |
| Operating Income Growth % | - | 158.63% | 50.98% | 16.72% | -81.65% | -309.58% | 7.2% |
| EBITDA | 1.01M | 2.46M | 3.7M | 4.34M | 1.65M | -443.2K | -189.07K |
| EBITDA Margin % | 11.31% | 17.4% | 19.87% | 16.11% | 8.12% | -1.46% | -0.83% |
| EBITDA Growth % | - | 142.82% | 50.66% | 17.15% | -61.96% | -126.87% | 57.34% |
| D&A (Non-Cash Add-back) | 119.13K | 148.19K | 215.86K | 267.74K | 902.69K | 1.12M | 1.26M |
| EBIT | 1.16M | 2.86M | 3.49M | 4.07M | 1.9M | -1.03M | -1.02M |
| Net Interest Income | -52.93K | -262.6K | -425.87K | -484.49K | -404K | -122.98K | 48.04K |
| Interest Income | 0 | 0 | 0 | 26.66K | 88.11K | 27.18K | 389.73K |
| Interest Expense | 52.93K | 262.6K | 425.87K | 511.14K | 492.1K | 150.16K | 341.69K |
| Other Income/Expense | 216.57K | 290.42K | 210.96K | -154.84K | 665.19K | 382.73K | 91.38K |
| Pretax Income | 1.11M▲ 0% | 2.6M▲ 134.3% | 3.7M▲ 42.2% | 3.91M▲ 5.9% | 1.41M▼ 63.9% | -1.18M▼ 183.7% | -1.36M▼ 15.1% |
| Pretax Margin % | 12.39% | 18.4% | 19.84% | 14.54% | 6.95% | -3.9% | -5.95% |
| Income Tax | 158.07K | 385.74K | 301.92K | 437.77K | 193.25K | -66.34K | 28.93K |
| Effective Tax Rate % | 14.25% | 14.84% | 8.17% | 11.19% | 13.69% | 5.61% | -2.13% |
| Net Income | 951.18K▲ 0% | 2.21M▲ 132.7% | 3.39M▲ 53.4% | 3.48M▲ 2.4% | 1.22M▼ 64.9% | -1.12M▼ 191.6% | -1.39M▼ 24.5% |
| Net Margin % | 10.63% | 15.67% | 18.22% | 12.92% | 6% | -3.68% | -6.08% |
| Net Income Growth % | - | 132.7% | 53.37% | 2.4% | -64.94% | -191.57% | -24.55% |
| Net Income (Continuing) | 951.18K | 2.21M | 3.39M | 3.48M | 1.22M | -1.12M | -1.39M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.08▲ 0% | 0.18▲ 127.0% | 0.28▲ 55.6% | 0.29▲ 3.6% | 0.10▼ 65.5% | -0.08▼ 175.0% | -272.80▼ 363633.3% |
| EPS Growth % | - | 126.99% | 55.56% | 3.57% | -65.52% | -175% | -363633.33% |
| EPS (Basic) | 0.08 | 0.18 | 0.28 | 0.29 | 0.10 | -0.08 | -272.80 |
| Diluted Shares Outstanding | 12M | 12M | 12M | 12M | 12M | 14.92M | 5.09K |
| Basic Shares Outstanding | 12M | 12M | 12M | 12M | 12M | 14.92M | 5.09K |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
RAYA Balance Sheet
Erayak Power Solution Group Inc. (RAYA) 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 | 3.7M | 11.95M | 13.49M | 28.24M | 22.1M | 33.09M | 43.36M |
| Cash & Short-Term Investments | 1.01M | 460.52K | 5.17M | 7.03M | 5.88M | 532.61K | 4.72M |
| Cash Only | 1.01M | 460.52K | 5.17M | 7.03M | 5.88M | 532.61K | 184.86K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 4.54M |
| Accounts Receivable | 1.26M | 5.24M | 1.81M | 10.22M | 6.42M | 13.49M | 16.93M |
| Days Sales Outstanding | 51.37 | 135.37 | 35.45 | 138.69 | 115.23 | 162.51 | 270.36 |
| Inventory | 1.25M | 1.68M | 3.9M | 6.23M | 7.06M | 8.84M | 9.73M |
| Days Inventory Outstanding | 68.17 | 59.76 | 110.33 | 112.03 | 167.45 | 122.6 | 197.39 |
| Other Current Assets | 0 | 3.6M | 2.11M | 34.73K | 1.06K | 792.2K | 4.5M |
| Total Non-Current Assets | 9.72M | 10.18M | 9.98M | 9.37M | 13.19M | 12.94M | 16.08M |
| Property, Plant & Equipment | 9.68M | 10.16M | 9.93M | 9.33M | 9.26M | 8.62M | 13.13M |
| Fixed Asset Turnover | 0.92x | 1.39x | 1.88x | 2.89x | 2.19x | 3.52x | 1.74x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.23K | 12.06K | 11.09K | 8.81K | 31.85K | 61.97K | 2.68M |
| Long-Term Investments | 0 | 10.17M | 9.94M | 9.34M | 3.86M | 411K | 193.45K |
| Other Non-Current Assets | 30.49K | -10.17M | -9.94M | -9.34M | 0 | 3.75M | 0 |
| Total Assets | 13.42M▲ 0% | 22.13M▲ 64.8% | 23.47M▲ 6.1% | 37.61M▲ 60.2% | 35.29M▼ 6.2% | 46.03M▲ 30.5% | 59.45M▲ 29.1% |
| Asset Turnover | 0.67x | 0.64x | 0.79x | 0.72x | 0.58x | 0.66x | 0.38x |
| Asset Growth % | - | 64.84% | 6.07% | 60.22% | -6.17% | 30.46% | 29.14% |
| Total Current Liabilities | 11.02M | 17.22M | 11.87M | 18.04M | 13.21M | 15.53M | 20.77M |
| Accounts Payable | 2.74M | 3.21M | 4.15M | 4.73M | 5.69M | 8.34M | 6.23M |
| Days Payables Outstanding | 149.4 | 114.16 | 117.39 | 85.07 | 135 | 115.64 | 126.44 |
| Short-Term Debt | 770.46K | 11.09M | 5.76M | 10.58M | 295.81K | 1.22M | 9.07M |
| Deferred Revenue (Current) | 416.14K | 802.66K | 542.01K | 711.01K | 357.38K | 628.07K | 1.57M |
| Other Current Liabilities | 0 | 1.82M | 792.12K | 1.24M | 3.35M | 0 | 0 |
| Current Ratio | 0.34x | 0.69x | 1.14x | 1.56x | 1.67x | 2.13x | 2.09x |
| Quick Ratio | 0.22x | 0.60x | 0.81x | 1.22x | 1.14x | 1.56x | 1.62x |
| Cash Conversion Cycle | -29.86 | 80.97 | 28.39 | 165.64 | 147.68 | 169.47 | 341.31 |
| Total Non-Current Liabilities | 1.44M | 1.53M | 4.71M | 217.52K | 1.87M | 3.91M | 3.41M |
| Long-Term Debt | 1.44M | 1.53M | 4.71M | 217.52K | 1.87M | 3.91M | 3.41M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 12.45M | 18.75M | 16.58M | 18.26M | 15.08M | 19.45M | 24.18M |
| Total Debt | 8.59M | 12.62M | 10.46M | 10.79M | 2.17M | 5.13M | 12.48M |
| Net Debt | 7.58M | 12.16M | 5.29M | 3.76M | -3.71M | 4.6M | 12.3M |
| Debt / Equity | 8.86x | 3.74x | 1.52x | 0.56x | 0.11x | 0.19x | 0.35x |
| Debt / EBITDA | 8.49x | 5.14x | 2.83x | 2.49x | 1.31x | - | - |
| Net Debt / EBITDA | 7.49x | 4.95x | 1.43x | 0.87x | -2.25x | - | - |
| Interest Coverage | 21.96x | 10.89x | 8.18x | 7.96x | 3.87x | -6.87x | -2.98x |
| Total Equity | 969.47K▲ 0% | 3.38M▲ 248.3% | 6.89M▲ 104.2% | 19.34M▲ 180.6% | 20.2M▲ 4.4% | 26.59M▲ 31.6% | 35.27M▲ 32.6% |
| Equity Growth % | - | 248.27% | 104.19% | 180.58% | 4.44% | 31.6% | 32.65% |
| Book Value per Share | 0.08 | 0.28 | 0.57 | 1.61 | 1.68 | 1.78 | 6921.66 |
| Total Shareholders' Equity | 969.47K | 3.38M | 6.89M | 19.34M | 20.2M | 26.59M | 35.27M |
| Common Stock | 0 | 0 | 900 | 1.2K | 1.2K | 5.06K | 19.69K |
| Retained Earnings | -9.17K | 1.99M | 5.04M | 8.16M | 9.19M | 8.06M | 6.55M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -81.87K | 326.89K | 795.62K | 532.97K | 368.55K | -121.79K | 858.98K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
RAYA Cash Flow Statement
Erayak Power Solution Group Inc. (RAYA) 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 | 533.41K | -7.93M | 4.64M | -4.15M | 6.73M | -15.88M | -3.17M |
| Operating CF Margin % | 5.96% | -56.13% | 24.92% | -15.43% | 33.11% | -52.4% | -13.85% |
| Operating CF Growth % | - | -1586.01% | 158.57% | -189.41% | 262.12% | -335.92% | 80.06% |
| Net Income | 951.18K | 2.21M | 3.39M | 3.48M | 1.22M | -1.12M | -1.39M |
| Depreciation & Amortization | 119.14K | 148.19K | 761.48K | 793.59K | 902.69K | 1.12M | 1.26M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 27.18K | -648 | -30.63K | 0 | 0 | -70.35K | 26.64K |
| Other Non-Cash Items | 206.54K | -6.15M | 120.2K | -4.55K | 136.35K | 632.32K | 45.87K |
| Working Capital Changes | -770.63K | -4.14M | 397.19K | -8.42M | 4.47M | -16.44M | -3.11M |
| Change in Receivables | 248.67K | -4.08M | 3.38M | -8.55M | 3.4M | -7.61M | -3.39M |
| Change in Inventory | -427.05K | -329.44K | -2.2M | -2.66M | -1.09M | -2.3M | -119.55K |
| Change in Payables | -605.23K | 274.72K | 803.61K | 661.08K | 1.09M | 2.64M | -2.4M |
| Cash from Investing | -370.28K | -186.01K | -244.17K | -4.9M | -1.38M | -971.81K | -12.37M |
| Capital Expenditures | -370.28K | -186.01K | -244.17K | -694.81K | -684.21K | -517.81K | -5.24M |
| CapEx % of Revenue | 4.14% | 1.32% | 1.31% | 2.58% | 3.37% | 1.71% | 22.92% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | -4.2M | 3.18M | -37.08K | -2.6M |
| Cash from Financing | 593.66K | 10.93M | -3.4M | 11.32M | -6.44M | 12.38M | 14.27M |
| Debt Issued (Net) | 1.42M | 9.7M | -2.53M | 1.15M | -8.34M | 3.07M | 6.93M |
| Equity Issued (Net) | 0 | 0 | 0 | 10.08M | 0 | 8M | 9.27M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -824.34K | 1.23M | -861.52K | 85.13K | 1.9M | 1.32M | -1.94M |
| Net Change in Cash | 747.67K▲ 0% | 3.05M▲ 307.9% | 1.11M▼ 63.5% | 1.89M▲ 70.1% | -1.19M▼ 162.8% | -4.55M▼ 283.0% | -888.02K▲ 80.5% |
| Free Cash Flow | 163.13K▲ 0% | -8.11M▼ 5073.2% | 4.4M▲ 154.2% | -4.85M▼ 210.2% | 6.02M▲ 224.2% | -16.43M▼ 373.0% | -11M▲ 33.0% |
| FCF Margin % | 1.82% | -57.45% | 23.61% | -18.01% | 29.62% | -54.23% | -48.14% |
| FCF Growth % | - | -5073.18% | 154.22% | -210.17% | 224.22% | -372.96% | 33.04% |
| FCF per Share | 0.01 | -0.68 | 0.37 | -0.40 | 0.50 | -1.10 | -2159.63 |
| FCF Conversion (FCF/Net Income) | 0.56x | -3.58x | 1.37x | -1.19x | 5.52x | 14.23x | 2.28x |
| Interest Paid | 39.26K | 94.63K | 365.75K | 831.75K | 0 | 148.34K | 279.68K |
| Taxes Paid | 17.53K | 26.67K | 99.69K | 123.61K | 0 | 178.69K | 12.39K |
RAYA Key Ratios
Erayak Power Solution Group Inc. (RAYA) 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) | 98.11% | 101.86% | 66.1% | 26.5% | 6.16% | -4.77% | -4.49% |
| Return on Invested Capital (ROIC) | 7.83% | 14.38% | 18.86% | 17.29% | 2.83% | -4.92% | -2.77% |
| Gross Margin | 25.2% | 26.9% | 30.45% | 24.6% | 24.31% | 13.18% | 21.32% |
| Net Margin | 10.63% | 15.67% | 18.22% | 12.92% | 6% | -3.68% | -6.08% |
| Debt / Equity | 8.86x | 3.74x | 1.52x | 0.56x | 0.11x | 0.19x | 0.35x |
| Interest Coverage | 21.96x | 10.89x | 8.18x | 7.96x | 3.87x | -6.87x | -2.98x |
| FCF Conversion | 0.56x | -3.58x | 1.37x | -1.19x | 5.52x | 14.23x | 2.28x |
| Revenue Growth | - | 57.8% | 31.92% | 44.45% | -24.48% | 49.1% | -24.57% |
RAYA Frequently Asked Questions
Erayak Power Solution Group Inc. (RAYA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Erayak Power Solution Group Inc. (RAYA) reported $53.1M in revenue for fiscal year 2025. This represents a 494% increase from $8.9M in 2019.
Erayak Power Solution Group Inc. (RAYA) saw revenue decline by 24.6% over the past year.
Erayak Power Solution Group Inc. (RAYA) reported a net loss of $2.5M for fiscal year 2025.
Dividend & Returns
Erayak Power Solution Group Inc. (RAYA) has a return on equity (ROE) of -4.5%. Negative ROE indicates the company is unprofitable.
Erayak Power Solution Group Inc. (RAYA) had negative free cash flow of $23.3M in fiscal year 2025, likely due to heavy capital investments.
Explore More RAYA
Erayak Power Solution Group Inc. (RAYA) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
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Valuation
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