Tungray Technologies Inc Class A Ordinary Shares(TRSG)Earnings, Financials & Key Ratios
TRSG•NASDAQ
$1.30
$21M mkt cap·Price updated May 6, 2026
AboutTungray Technologies Inc., an engineer-to-order company, through its subsidiaries, provides customized industrial manufacturing solutions in China and Singapore. It offers customized industrial test and tooling solutions; welding equipment manufacturing; and direct drive and linear direct current motors. The company also designs, develops, and manufactures non- standard equipment, such as automated assembly equipment, precision testing equipment, tooling fixtures, etc., as well as researches, develops, designs, and manufactures induction brazing and hardening equipment, automatic welding equipment, linear motors, and DD motors; researches, develops, and sells intelligent robots and storage equipment; and installs industrial machinery and equipment, and mechanical engineering works. It provides its services to original equipment manufacturers in the industry sectors of semiconductors, printers, electronics, and home appliances. The company was incorporated in 2022 and is headquartered in Singapore, Singapore. Tungray Technologies Inc. operates as a subsidiary of Pegasus Automation Limited.Show more
- Revenue$13M-10.8%
- EBITDA-$7K-100.5%
- Net Income-$480K-156.0%
- EPS (Diluted)-0.02-148.5%
- Gross Margin43.7%-6.5%
- EBITDA Margin-0.05%-100.6%
- Operating Margin-5.12%-165.4%
- Net Margin-3.75%-162.8%
- ROE-2.87%-146.2%
- ROIC-5.19%-138.4%
- Debt/Equity0.15-6.2%
TRSG Key Insights
Tungray Technologies Inc Class A Ordinary Shares (TRSG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Healthy dividend yield of 2.4%
- ✓Healthy 5Y average net margin of 11.3%
- ✓Trading at only 1.2x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 2/9
- ✗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.
TRSG Price & Volume
Tungray Technologies Inc Class A Ordinary Shares (TRSG) stock price & volume — 10-year historical chart
Loading chart...
TRSG Growth Metrics
Tungray Technologies Inc Class A Ordinary Shares (TRSG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-0.48%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-
Return on Capital
10 Years13.27%
5 Years13.27%
3 Years7.24%
Last Year-3.45%
TRSG Peer Comparison
Tungray Technologies Inc Class A Ordinary Shares (TRSG) competitors in Fabrication, machining and tooling — 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 |
|---|---|---|---|---|---|---|---|---|
 CLPS | 25.89M | 0.93 | -3.56 | 15.17% | -1.27% | -6.06% | 0.59 | |
 CNET | 1.99M | 0.75 | -0.40 | -49.52% | -33.36% | -60.34% | 0.03 | |
 AIXI | 7.9M | 0.75 | -0.47 | 18.84% | -45.89% | |||
 BTBT | 621.7M | 1.93 | 9.65 | 264.59% | 21.41% | 0.03 | ||
 CODA | 134.35M | 11.92 | 32.22 | 30.75% | 14.78% | 7.17% | 0.01 | |
 PXLW | 36.56M | 5.77 | -3.85 | -98.4% | -11.9% | -33.93% | 0.04 | |
 SMSI | 17.96M | 0.87 | -0.60 | -15.53% | -165.35% | -141.94% | 0.13 | |
 AEYE | 95.09M | 7.66 | -30.64 | 14.52% | -7.63% | -47.8% | 0.15 |
Compare TRSG vs Peers
Tungray Technologies Inc Class A Ordinary Shares (TRSG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TRSG Income Statement
Tungray Technologies Inc Class A Ordinary Shares (TRSG) 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 |
|---|---|---|---|---|---|
| Sales/Revenue | 6.89M | 13M | 11.85M | 14.36M | 12.81M |
| Revenue Growth % | - | 88.59% | -8.87% | 21.25% | -10.81% |
| Cost of Goods Sold | 3.57M | 6.25M | 5.18M | 7.65M | 7.21M |
| COGS % of Revenue | 51.73% | 48.09% | 43.7% | 53.27% | 56.3% |
| Gross Profit | 3.33M▲ 0% | 6.75M▲ 102.8% | 6.67M▼ 1.2% | 6.71M▲ 0.6% | 5.6M▼ 16.6% |
| Gross Margin % | 48.27% | 51.91% | 56.3% | 46.73% | 43.7% |
| Gross Profit Growth % | - | 102.81% | -1.17% | 0.63% | -16.59% |
| Operating Expenses | 2.18M | 3.26M | 4.34M | 5.61M | 6.25M |
| OpEx % of Revenue | 31.67% | 25.06% | 36.63% | 39.07% | 48.82% |
| Selling, General & Admin | 2.7M | 3.71M | 5.15M | 4.82M | 5.19M |
| SG&A % of Revenue | 39.13% | 28.53% | 43.52% | 33.56% | 40.52% |
| Research & Development | 227.39K | 498.08K | 601.32K | 791.76K | 1.06M |
| R&D % of Revenue | 3.3% | 3.83% | 5.08% | 5.51% | 8.3% |
| Other Operating Expenses | 253.37K | 315.34K | 222.42K | 0 | 0 |
| Operating Income | 1.14M▲ 0% | 3.49M▲ 204.9% | 2.33M▼ 33.2% | 1.12M▼ 51.7% | -656.1K▼ 158.3% |
| Operating Margin % | 16.6% | 26.85% | 19.67% | 7.83% | -5.12% |
| Operating Income Growth % | - | 204.93% | -33.24% | -51.72% | -158.33% |
| EBITDA | 1.35M | 3.9M | 2.59M | 1.36M | -6.76K |
| EBITDA Margin % | 19.57% | 30.01% | 21.86% | 9.46% | -0.05% |
| EBITDA Growth % | - | 189.27% | -33.62% | -47.56% | -100.5% |
| D&A (Non-Cash Add-back) | 204.23K | 411.51K | 259.94K | 233.27K | 649.34K |
| EBIT | 1.58M | 4.69M | 3.21M | 1.12M | -656.1K |
| Net Interest Income | -295.11K | -189.97K | -35.7K | -160.74K | 122.23K |
| Interest Income | 0 | 0 | 0 | 0 | 122.23K |
| Interest Expense | 295.11K | 189.97K | 35.7K | 160.74K | 0 |
| Other Income/Expense | -41.75K | -1.11M | -747.55K | 194.97K | 362.46K |
| Pretax Income | 1.11M▲ 0% | 3.58M▲ 221.6% | 2.47M▼ 31.2% | 1.32M▼ 46.5% | -293.63K▼ 122.2% |
| Pretax Margin % | 16.17% | 27.57% | 20.81% | 9.19% | -2.29% |
| Income Tax | 227.61K | -525.89K | 375.12K | 504.18K | 278.08K |
| Effective Tax Rate % | 20.43% | -14.68% | 15.22% | 38.2% | -94.7% |
| Net Income | 886.57K▲ 0% | 3.06M▲ 244.9% | 2.1M▼ 31.4% | 856.54K▼ 59.2% | -480.02K▼ 156.0% |
| Net Margin % | 12.86% | 23.53% | 17.71% | 5.96% | -3.75% |
| Net Income Growth % | - | 244.94% | -31.41% | -59.16% | -156.04% |
| Net Income (Continuing) | 886.57K | 4.11M | 2.88M | 815.65K | -571.72K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | -868 | -10.76K | -86.81K | -163.6K |
| EPS (Diluted) | 0.05▲ 0% | 0.19▲ 248.0% | 0.13▼ 31.6% | 0.05▼ 65.1% | -0.02▼ 148.5% |
| EPS Growth % | - | 247.99% | -31.58% | -65.08% | -148.46% |
| EPS (Basic) | 0.05 | 0.19 | 0.13 | 0.05 | -0.02 |
| Diluted Shares Outstanding | 16.25M | 16.25M | 16.25M | 16.35M | 16.35M |
| Basic Shares Outstanding | 16.25M | 16.25M | 16.25M | 16.35M | 16.35M |
| Dividend Payout Ratio | - | - | 57.2% | 148.96% | - |
TRSG Balance Sheet
Tungray Technologies Inc Class A Ordinary Shares (TRSG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|
| Total Current Assets | 8.86M | 13.83M | 13.32M | 18.53M | 19.77M |
| Cash & Short-Term Investments | 4.61M | 8.41M | 9.79M | 10.8M | 8.97M |
| Cash Only | 4.61M | 8.41M | 9.79M | 10.8M | 8.97M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.99M | 3.4M | 2.22M | 3.81M | 3.52M |
| Days Sales Outstanding | 158.11 | 95.54 | 68.55 | 96.77 | 100.26 |
| Inventory | 1.06M | 1.37M | 1.05M | 2.28M | 2.21M |
| Days Inventory Outstanding | 108.4 | 79.91 | 73.85 | 108.94 | 111.65 |
| Other Current Assets | 2.93M | 4.65M | 4.26M | 326.09K | 503.54K |
| Total Non-Current Assets | 5.49M | 5.3M | 5.94M | 8.34M | 10.14M |
| Property, Plant & Equipment | 5.42M | 5.22M | 5.15M | 6.86M | 7.81M |
| Fixed Asset Turnover | 1.27x | 2.49x | 2.30x | 2.09x | 1.64x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 63.96K | 49.14K | 33.94K | 55.84K | 2.05M |
| Long-Term Investments | 0 | 0 | 162.15K | 160.16K | 205.5K |
| Other Non-Current Assets | -15.57K | -12.69K | 529.89K | 1.27M | 79.09K |
| Total Assets | 14.35M▲ 0% | 19.13M▲ 33.3% | 19.25M▲ 0.6% | 27.05M▲ 40.5% | 29.91M▲ 10.6% |
| Asset Turnover | 0.48x | 0.68x | 0.62x | 0.53x | 0.43x |
| Asset Growth % | - | 33.33% | 0.64% | 40.51% | 10.56% |
| Total Current Liabilities | 4.94M | 7.03M | 5.73M | 8.35M | 10.6M |
| Accounts Payable | 1.21M | 1.64M | 1.21M | 1.55M | 1.44M |
| Days Payables Outstanding | 123.83 | 95.85 | 85.4 | 73.81 | 72.83 |
| Short-Term Debt | 387.47K | 1.21M | 833.51K | 140.16K | 80.59K |
| Deferred Revenue (Current) | 759.95K | 1.93M | 1.38M | 4.01M | 6.12M |
| Other Current Liabilities | 4.25M | 3.04M | 2.44M | 65.07K | 40.4K |
| Current Ratio | 1.79x | 1.97x | 2.32x | 2.22x | 1.86x |
| Quick Ratio | 1.58x | 1.77x | 2.14x | 1.95x | 1.66x |
| Cash Conversion Cycle | 142.68 | 79.6 | 57 | 131.91 | 139.08 |
| Total Non-Current Liabilities | 3.15M | 2.76M | 2.13M | 2.3M | 2.04M |
| Long-Term Debt | 2.69M | 2.37M | 2.37M | 1.95M | 1.16M |
| Capital Lease Obligations | 605.13K | 519.69K | 490.01K | 350.05K | 883.08K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 866.18K | -134.21K | -728.38K | 0 | 0 |
| Total Liabilities | 8.09M | 9.79M | 7.86M | 10.65M | 12.65M |
| Total Debt | 3.54M | 3.77M | 2.81M | 2.61M | 2.6M |
| Net Debt | -1.08M | -4.64M | -6.98M | -8.19M | -6.37M |
| Debt / Equity | 0.57x | 0.40x | 0.25x | 0.16x | 0.15x |
| Debt / EBITDA | 2.62x | 0.97x | 1.09x | 1.92x | - |
| Net Debt / EBITDA | -0.80x | -1.19x | -2.69x | -6.03x | - |
| Interest Coverage | 3.88x | 18.37x | 65.26x | 7.00x | - |
| Total Equity | 6.25M▲ 0% | 9.34M▲ 49.4% | 11.39M▲ 21.9% | 16.25M▲ 42.7% | 17.26M▲ 6.2% |
| Equity Growth % | - | 49.35% | 21.94% | 42.67% | 6.23% |
| Book Value per Share | 0.38 | 0.57 | 0.70 | 0.99 | 1.06 |
| Total Shareholders' Equity | 6.25M | 9.34M | 11.4M | 16.33M | 17.42M |
| Common Stock | 1.14K | 1.11K | 1.12K | 1.5K | 1.64K |
| Retained Earnings | 9.57M | 12.38M | 11.23M | 15.96M | 15.05M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3.57M | -3.29M | -77.58K | 35.46K | -763.43K |
| Minority Interest | 0 | -868 | -10.76K | -86.81K | -163.6K |
TRSG Cash Flow Statement
Tungray Technologies Inc Class A Ordinary Shares (TRSG) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|
| Cash from Operations | 2.32M | 4.45M | 2.64M | 451.02K | -811.89K |
| Operating CF Margin % | 33.61% | 34.27% | 22.27% | 3.14% | -6.34% |
| Operating CF Growth % | - | 92.3% | -40.78% | -82.9% | -280.01% |
| Net Income | 886.57K | 3.06M | 2.1M | 856.54K | -571.72K |
| Depreciation & Amortization | 204.23K | 411.51K | 259.94K | 387.72K | 649.34K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | -23.4K | -23.73K | -10.74K | 55.55K | 0 |
| Other Non-Cash Items | -1M | 2.02M | -208.76K | 175.87K | 348.2K |
| Working Capital Changes | 1.09M | 843.15K | 249.16K | -1.02M | -1.24M |
| Change in Receivables | 1.95M | -952.81K | 791.58K | -1.22M | 666.74K |
| Change in Inventory | -41.41K | -382.37K | 217.58K | -676.81K | -117.16K |
| Change in Payables | -331.92K | 301.24K | -238.2K | 273.3K | -65.68K |
| Cash from Investing | -443.46K | -754.24K | 2.69M | -81.75K | -2.78M |
| Capital Expenditures | -1.52M | -153.55K | -105.66K | -43.25K | -2.47M |
| CapEx % of Revenue | 22.04% | 1.18% | 0.89% | 0.3% | 19.26% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 1.08M | -600.69K | 2.96M | -38.49K | -317.12K |
| Cash from Financing | -503.76K | -9.99K | -3.78M | -2.81M | 2.79M |
| Debt Issued (Net) | -324.36K | 383.93K | -918.82K | 457.07K | -735.76K |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 1000K |
| Dividends Paid | 0 | 0 | -1.2M | -1.28M | -517.14K |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -370.52K | -397.35K | 1.18M | -1.99M | -954.58K |
| Net Change in Cash | 414.78K▲ 0% | 3.8M▲ 815.3% | 1.38M▼ 63.6% | -2.33M▼ 268.6% | -1.33M▲ 42.9% |
| Free Cash Flow | 797.55K▲ 0% | 4.3M▲ 439.3% | 2.53M▼ 41.1% | 369.77K▼ 85.4% | -3.29M▼ 990.8% |
| FCF Margin % | 11.57% | 33.09% | 21.38% | 2.57% | -25.71% |
| FCF Growth % | - | 439.28% | -41.12% | -85.4% | -990.81% |
| FCF per Share | 0.05 | 0.26 | 0.16 | 0.02 | -0.20 |
| FCF Conversion (FCF/Net Income) | 2.61x | 1.46x | 1.26x | 0.53x | 1.69x |
| Interest Paid | 126.22K | 193.39K | 155.05K | 91.28K | 66.86K |
| Taxes Paid | 424.89K | 268.08K | 390.94K | 664.26K | 746.04K |
TRSG Key Ratios
Tungray Technologies Inc Class A Ordinary Shares (TRSG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Return on Equity (ROE) | 14.18% | 39.23% | 20.24% | 6.2% | -2.87% |
| Return on Invested Capital (ROIC) | 16.58% | 52.99% | 38.35% | 13.54% | -5.19% |
| Gross Margin | 48.27% | 51.91% | 56.3% | 46.73% | 43.7% |
| Net Margin | 12.86% | 23.53% | 17.71% | 5.96% | -3.75% |
| Debt / Equity | 0.57x | 0.40x | 0.25x | 0.16x | 0.15x |
| Interest Coverage | 3.88x | 18.37x | 65.26x | 7.00x | - |
| FCF Conversion | 2.61x | 1.46x | 1.26x | 0.53x | 1.69x |
| Revenue Growth | - | 88.59% | -8.87% | 21.25% | -10.81% |
TRSG Frequently Asked Questions
Tungray Technologies Inc Class A Ordinary Shares (TRSG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Tungray Technologies Inc Class A Ordinary Shares (TRSG) reported $27.2M in revenue for fiscal year 2024. This represents a 294% increase from $6.9M in 2020.
Tungray Technologies Inc Class A Ordinary Shares (TRSG) saw revenue decline by 10.8% over the past year.
Yes, Tungray Technologies Inc Class A Ordinary Shares (TRSG) is profitable, generating $0.4M in net income for fiscal year 2024 (-3.7% net margin).
Dividend & Returns
Yes, Tungray Technologies Inc Class A Ordinary Shares (TRSG) pays a dividend with a yield of 2.43%. This makes it attractive for income-focused investors.
Tungray Technologies Inc Class A Ordinary Shares (TRSG) has a return on equity (ROE) of -2.9%. Negative ROE indicates the company is unprofitable.
Tungray Technologies Inc Class A Ordinary Shares (TRSG) had negative free cash flow of $3.1M in fiscal year 2024, likely due to heavy capital investments.
Explore More TRSG
Tungray Technologies Inc Class A Ordinary Shares (TRSG) 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