SAIHEAT Limited(SAIHW)Earnings, Financials & Key Ratios
SAIHW•NASDAQ
$0.03
$19325 mkt cap·Price updated Apr 24, 2026
AboutSAIHEAT Limited engages in the development of liquid-cooling data centers. It develops technologies for the advanced computing center ecosystem, a center that provides high-performance servers, liquid cooling, and systems for capturing and recycling computing heat. The company was formerly known as SAI.TECH Global Corporation and changed its name to SAIHEAT Limited in August 2024. SAIHEAT Limited was founded in 2019 and is headquartered in Singapore.Show more
- Revenue$6M-18.2%
- EBITDA-$6M-3.6%
- Net Income-$6M+3.8%
- EPS (Diluted)-3.46+11.5%
- Gross Margin-18.22%-370.2%
- EBITDA Margin-108.42%-26.6%
- Operating Margin-142.68%-31.2%
- Net Margin-106.19%-17.6%
- ROE-37.75%-14.5%
- ROIC-38.94%+15.6%
- Debt/Equity0.19+287.8%
SAIHW Key Insights
SAIHEAT Limited (SAIHW) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Trading at only 0.0x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 2 (bottom 2%)
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
SAIHW Price & Volume
SAIHEAT Limited (SAIHW) stock price & volume — 10-year historical chart
Loading chart...
SAIHW Growth Metrics
SAIHEAT Limited (SAIHW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-31.22%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-
Return on Capital
10 Years-73.31%
5 Years-73.31%
3 Years-45.53%
Last Year-49.06%
SAIHW Peer Comparison
SAIHEAT Limited (SAIHW) competitors in Data Centers and Cloud Infrastructure — 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 |
|---|---|---|---|---|---|---|---|---|
 CODA | 134.12M | 11.90 | 32.16 | 30.75% | 14.78% | 7.17% | 0.01 | |
 PESI | 207.18M | 11.17 | -14.89 | 4.33% | -30.06% | -34.48% | 0.09 | |
 ERII | 498.17M | 9.43 | 22.45 | -7.07% | 25.89% | 17.36% | 0.05 | |
 FTEK | 47.67M | 1.53 | -20.37 | 6.14% | -11.15% | -7.34% | 0.01 | |
 CECO | 2.92B | 81.38 | 59.40 | 38.79% | 2.11% | 5.45% | 0.08 | |
 POWI | 4B | 71.83 | 184.18 | 5.85% | 3.72% | 2.44% | ||
 ITRI | 3.6B | 81.14 | 12.46 | -3.02% | 12.32% | 17.22% | 0.74 | |
 EMR | 79.02B | 141.09 | 34.92 | 3% | 13.35% | 12.1% | 0.68 |
Compare SAIHW vs Peers
SAIHEAT Limited (SAIHW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SAIHW Income Statement
SAIHEAT Limited (SAIHW) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 1.96M | 17.04M | 10.64M | 6.78M | 5.54M | - |
| Revenue Growth % | - | 770.62% | -37.56% | -36.3% | -18.2% | - |
| Cost of Goods Sold | 1.05M | 15.77M | 9.5M | 6.32M | 6.55M | - |
| COGS % of Revenue | 53.91% | 92.58% | 89.28% | 93.26% | 118.22% | - |
| Gross Profit | 902K▲ 0% | 1.26M▲ 40.1% | 1.14M▼ 9.8% | 457K▼ 59.9% | -1.01M▼ 321.0% | -▲ 0% |
| Gross Margin % | 46.09% | 7.42% | 10.72% | 6.74% | -18.22% | - |
| Gross Profit Growth % | - | 40.13% | -9.81% | -59.91% | -321.01% | - |
| Operating Expenses | 620K | 17.72M | 8.61M | 7.83M | 6.9M | - |
| OpEx % of Revenue | 31.68% | 103.98% | 80.89% | 115.53% | 124.46% | - |
| Selling, General & Admin | 232K | 17.16M | 7.18M | 6.84M | 6.26M | - |
| SG&A % of Revenue | 11.85% | 100.73% | 67.48% | 100.9% | 112.88% | - |
| Research & Development | 348K | 419K | 476K | 853K | 642K | - |
| R&D % of Revenue | 17.78% | 2.46% | 4.47% | 12.59% | 11.58% | - |
| Other Operating Expenses | 40K | 135K | 951K | 138K | 0 | - |
| Operating Income | 282K▲ 0% | -16.45M▼ 5934.0% | -7.46M▲ 54.6% | -7.37M▲ 1.3% | -7.91M▼ 7.3% | -▲ 0% |
| Operating Margin % | 14.41% | -96.56% | -70.17% | -108.78% | -142.68% | - |
| Operating Income Growth % | - | -5934.04% | 54.63% | 1.26% | -7.3% | - |
| EBITDA | 365K | -16.14M | -5.64M | -5.8M | -6.01M | - |
| EBITDA Margin % | 18.65% | -94.7% | -53.06% | -85.64% | -108.42% | - |
| EBITDA Growth % | - | -4520.55% | 65.02% | -2.82% | -3.57% | - |
| D&A (Non-Cash Add-back) | 83K | 317K | 1.82M | 1.57M | 1.9M | - |
| EBIT | 322K | -16.32M | -6.51M | -7.23M | -7.91M | - |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | - |
| Interest Income | 0 | 0 | 0 | 0 | 0 | - |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | - |
| Other Income/Expense | 174K | -228K | -1.38M | 1.25M | 2.02M | - |
| Pretax Income | 456K▲ 0% | -16.68M▼ 3757.9% | -8.85M▲ 47.0% | -6.12M▲ 30.8% | -5.89M▲ 3.8% | -▲ 0% |
| Pretax Margin % | 23.3% | -97.9% | -83.15% | -90.32% | -106.19% | - |
| Income Tax | 53K | 24K | 0 | 0 | 0 | - |
| Effective Tax Rate % | 11.62% | -0.14% | 0% | 0% | 0% | - |
| Net Income | 403K▲ 0% | -16.7M▼ 4244.9% | -8.85M▲ 47.0% | -6.12M▲ 30.8% | -5.89M▲ 3.8% | -▲ 0% |
| Net Margin % | 20.59% | -98.04% | -83.15% | -90.32% | -106.19% | - |
| Net Income Growth % | - | -4244.91% | 47.05% | 30.81% | 3.82% | - |
| Net Income (Continuing) | 403K | -16.7M | -8.85M | -6.12M | -5.89M | - |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | - |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | - |
| EPS (Diluted) | 0.00▲ 0% | -20.13▲ 0% | -6.90▲ 65.7% | -3.91▲ 43.3% | -3.46▲ 11.5% | -▲ 0% |
| EPS Growth % | - | - | 65.72% | 43.33% | 11.51% | - |
| EPS (Basic) | 0.00 | -20.13 | -6.90 | -3.91 | -3.46 | - |
| Diluted Shares Outstanding | 0 | 829.85K | 1.28M | 1.56M | 1.7M | 642.04K |
| Basic Shares Outstanding | 0 | 829.85K | 1.28M | 1.56M | 1.7M | 642.04K |
| Dividend Payout Ratio | - | - | - | - | - | - |
SAIHW Balance Sheet
SAIHEAT Limited (SAIHW) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 3.18M | 6.88M | 18.69M | 12.25M | 10.89M | - |
| Cash & Short-Term Investments | 1.3M | 4.48M | 11.23M | 3.26M | 1.06M | 1.04M |
| Cash Only | 1.3M | 4.48M | 11.21M | 3.18M | 1.04M | 1.04M |
| Short-Term Investments | 0 | 0 | 12K | 81K | 20K | - |
| Accounts Receivable | 862K | 1.79M | 2.1M | 1.47M | 925K | - |
| Days Sales Outstanding | 160.77 | 38.37 | 72.16 | 79.02 | 60.91 | - |
| Inventory | 900K | 198K | 152K | 44K | 772K | - |
| Days Inventory Outstanding | 311.37 | 4.58 | 5.84 | 2.54 | 43 | - |
| Other Current Assets | 6K | 96K | 5.13M | 7.17M | 7.03M | - |
| Total Non-Current Assets | 859K | 4.65M | 2.41M | 5.82M | 7.64M | - |
| Property, Plant & Equipment | 438K | 4.39M | 2.31M | 5.82M | 4.56M | - |
| Fixed Asset Turnover | 4.47x | 3.88x | 4.60x | 1.16x | 1.22x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | - |
| Intangible Assets | 409K | 265K | 94K | 0 | 0 | - |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | - |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 3.08M | - |
| Total Assets | 4.04M▲ 0% | 11.53M▲ 185.6% | 21.1M▲ 83.0% | 18.07M▼ 14.3% | 18.53M▲ 2.5% | 18.53M▲ 0% |
| Asset Turnover | 0.48x | 1.48x | 0.50x | 0.37x | 0.30x | - |
| Asset Growth % | - | 185.61% | 82.95% | -14.34% | 2.54% | - |
| Total Current Liabilities | 324K | 1.4M | 555K | 687K | 3.68M | - |
| Accounts Payable | 47K | 1.26M | 165K | 45K | 438K | - |
| Days Payables Outstanding | 16.26 | 29.18 | 6.34 | 2.6 | 24.4 | - |
| Short-Term Debt | 0 | 17K | 0 | 0 | 2.12M | - |
| Deferred Revenue (Current) | 0 | 62K | 0 | 0 | 870K | - |
| Other Current Liabilities | 0 | -17K | 0 | 0 | 0 | - |
| Current Ratio | 9.81x | 4.93x | 33.68x | 17.83x | 2.96x | 2.96x |
| Quick Ratio | 7.03x | 4.79x | 33.40x | 17.77x | 2.75x | 2.75x |
| Cash Conversion Cycle | 455.89 | 13.77 | 71.66 | 78.96 | 79.51 | - |
| Total Non-Current Liabilities | 3.22M | 12.5M | 231K | 569K | 486K | - |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | - |
| Capital Lease Obligations | 0 | 27K | 231K | 569K | 486K | - |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | - |
| Other Non-Current Liabilities | 3.22M | 12.47M | 0 | 0 | 0 | - |
| Total Liabilities | 3.54M | 13.9M | 786K | 1.26M | 4.17M | - |
| Total Debt | 0 | 44K | 419K | 810K | 2.68M | 2.68M |
| Net Debt | -1.3M | -4.43M | -10.8M | -2.37M | 1.65M | 1.65M |
| Debt / Equity | - | - | 0.02x | 0.05x | 0.19x | 0.19x |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | -3.56x | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - |
| Total Equity | 496K▲ 0% | -2.36M▼ 576.4% | 20.31M▲ 959.7% | 16.82M▼ 17.2% | 14.37M▼ 14.6% | 14.37M▲ 0% |
| Equity Growth % | - | -576.41% | 959.67% | -17.2% | -14.58% | - |
| Book Value per Share | - | -2.85 | 15.85 | 10.75 | 8.44 | 8.44 |
| Total Shareholders' Equity | 496K | -2.36M | 20.31M | 16.82M | 14.37M | 14.37M |
| Common Stock | 9K | 1K | 2K | 2K | 2K | - |
| Retained Earnings | 292K | -16.41M | -25.26M | -31.34M | -37.23M | - |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | - |
| Accumulated OCI | 56K | 83K | -461K | -518K | -542K | - |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | - |
SAIHW Cash Flow Statement
SAIHEAT Limited (SAIHW) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | -1.03M | -983K | -4.93M | -3.13M | -5.55M | -5.55M |
| Operating CF Margin % | -52.89% | -5.77% | -46.37% | -46.12% | -100.2% | - |
| Operating CF Growth % | - | 5.02% | -401.83% | 36.65% | -77.73% | - |
| Net Income | 403K | -16.7M | -8.85M | -6.12M | -5.89M | - |
| Depreciation & Amortization | 83K | 317K | 1.82M | 1.57M | 1.9M | - |
| Stock-Based Compensation | 0 | 14.46M | 1.06M | 2.64M | 3.46M | - |
| Deferred Taxes | 19K | 12K | 0 | 0 | 0 | - |
| Other Non-Cash Items | 45K | 363K | 1.67M | -293K | -2.03M | - |
| Working Capital Changes | -1.58M | 572K | -638K | -921K | -2.99M | - |
| Change in Receivables | -622K | -475K | -366K | 686K | 858K | - |
| Change in Inventory | -851K | 721K | 30K | 106K | -735K | - |
| Change in Payables | 45K | 1.21M | -1.1M | -119K | 396K | - |
| Cash from Investing | -759K | -3.97M | -6.42M | -4.9M | 1.35M | - |
| Capital Expenditures | -325K | -3.97M | -1.87M | -5.05M | -713K | - |
| CapEx % of Revenue | 16.61% | 23.3% | 17.6% | 74.51% | 12.86% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | - |
| Investments | - | - | - | - | - | - |
| Other Investing | -434K | 0 | -4.55M | 152K | 134K | - |
| Cash from Financing | 2.89M | 8.19M | 18.53M | 9K | 2.12M | - |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 2.12M | - |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 9K | 0 | - |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | - |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | - |
| Other Financing | 0 | 0 | 0 | 0 | 0 | - |
| Net Change in Cash | 1.17M▲ 0% | 3.18M▲ 171.5% | 6.74M▲ 112.1% | -8.04M▼ 219.3% | -2.1M▲ 73.9% | -▲ 0% |
| Free Cash Flow | -1.79M▲ 0% | -4.95M▼ 176.1% | -6.8M▼ 37.4% | -8.17M▼ 20.1% | -6.27M▲ 23.3% | -▲ 0% |
| FCF Margin % | -91.67% | -29.07% | -63.97% | -120.63% | -113.06% | - |
| FCF Growth % | - | -176.09% | -37.39% | -20.12% | 23.33% | - |
| FCF per Share | - | -5.97 | -5.31 | -5.23 | -3.68 | -3.68 |
| FCF Conversion (FCF/Net Income) | -2.57x | 0.06x | 0.56x | 0.51x | 0.94x | - |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | - |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | - |
SAIHW Key Ratios
SAIHEAT Limited (SAIHW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | - | -98.55% | -32.96% | -37.75% | - |
| Return on Invested Capital (ROIC) | - | -411.37% | -46.12% | -38.94% | -38.94% |
| Gross Margin | 7.42% | 10.72% | 6.74% | -18.22% | - |
| Net Margin | -98.04% | -83.15% | -90.32% | -106.19% | - |
| Debt / Equity | - | 0.02x | 0.05x | 0.19x | 0.19x |
| FCF Conversion | 0.06x | 0.56x | 0.51x | 0.94x | - |
| Revenue Growth | 770.62% | -37.56% | -36.3% | -18.2% | - |
SAIHW Frequently Asked Questions
SAIHEAT Limited (SAIHW) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
SAIHEAT Limited (SAIHW) reported $5.5M in revenue for fiscal year 2024. This represents a 183% increase from $2.0M in 2020.
SAIHEAT Limited (SAIHW) saw revenue decline by 18.2% over the past year.
SAIHEAT Limited (SAIHW) reported a net loss of $5.9M for fiscal year 2024.
Dividend & Returns
SAIHEAT Limited (SAIHW) has a return on equity (ROE) of -37.7%. Negative ROE indicates the company is unprofitable.
SAIHEAT Limited (SAIHW) had negative free cash flow of $6.3M in fiscal year 2024, likely due to heavy capital investments.
Explore More SAIHW
SAIHEAT Limited (SAIHW) 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