Revenue growth has turned negative with a 16.5% contraction in 2025Q4, while operating margins remain highly sensitive to cost fluctuations, swinging from 18.6% in 2024Q4 to 9.8% in 2025Q4.
| Sales/Revenue | 20.69M | 23.5M | 19.82M | 19.19M | 20.76M | 16.19M | 20.37M | 20.91M |
| Revenue Growth % | -11.98% | 18.57% | 3.29% | -7.58% | 28.22% | -20.49% | -2.61% | - |
| Cost of Goods Sold | 14.64M | 14M | 13.04M | 12.99M | 14.4M | 10.7M | 12.86M | 13.25M |
| COGS % of Revenue | 70.78% | 59.57% | 65.77% | 67.7% | 69.36% | 66.05% | 63.12% | 63.38% |
| Gross Profit | 6.04M | 9.5M | 6.78M | 6.2M | 6.36M | 5.5M | 7.51M | 7.66M |
| Gross Margin % | 29.22% | 40.43% | 34.23% | 32.3% | 30.64% | 33.95% | 36.88% | 36.62% |
| Gross Profit Growth % | -36.39% | 40.06% | 9.46% | -2.56% | 15.69% | -26.8% | -1.91% | - |
| Operating Expenses | 5.44M | 5.86M | 3.92M | 4.07M | 3.73M | 3.14M | 3.11M | 3.33M |
| OpEx % of Revenue | 26.28% | 24.95% | 19.76% | 21.2% | 17.96% | 19.41% | 15.26% | 15.94% |
| Selling, General & Admin | 3.88M | 4.37M | 2.37M | 2.18M | 2.16M | 1.88M | 1.98M | 2.23M |
| SG&A % of Revenue | 18.75% | 18.58% | 11.98% | 11.34% | 10.42% | 11.62% | 9.71% | 10.66% |
| Research & Development | 1.56M | 1.5M | 1.54M | 1.89M | 1.57M | 1.26M | 1.13M | 1.2M |
| R&D % of Revenue | 7.53% | 6.37% | 7.78% | 9.86% | 7.55% | 7.79% | 5.55% | 5.75% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 608.18K | 3.64M | 2.87M | 2.13M | 2.63M | 2.35M | 4.4M | 4.23M |
| Operating Margin % | 2.94% | 15.48% | 14.47% | 11.1% | 12.67% | 14.54% | 21.62% | 20.22% |
| Operating Income Growth % | -83.29% | 26.91% | 34.58% | -19.04% | 11.76% | -46.53% | 4.17% | - |
| EBITDA | 932.87K | 3.98M | 3.09M | 2.49M | 2.97M | 2.68M | 4.75M | 4.6M |
| EBITDA Margin % | 4.51% | 16.96% | 15.61% | 12.96% | 14.32% | 16.55% | 23.31% | 21.98% |
| EBITDA Growth % | -76.59% | 28.83% | 24.33% | -16.31% | 10.94% | -43.56% | 3.31% | - |
| D&A (Non-Cash Add-back) | 324.68K | 346.13K | 225.9K | 357.27K | 341.25K | 324.93K | 344.04K | 368.26K |
| EBIT | 608.18K | 3.64M | 2.87M | 2.74M | 2.89M | 2.47M | 4.4M | 4.23M |
| Net Interest Income | 789.07K | 466.52K | 182.68K | 181.6K | -9.49K | -112.4K | 0 | 0 |
| Interest Income | 789.07K | 466.52K | 182.68K | 181.6K | 0 | 0 | 0 | 25.24K |
| Interest Expense | 0 | 0 | 0 | 0 | 9.49K | 112.4K | 22.85K | 0 |
| Other Income/Expense | 987.63K | 544.97K | 354.68K | 612.11K | 248.84K | -1.52K | -276.61K | 71.02K |
| Pretax Income | 1.6M | 4.18M | 3.22M | 2.74M | 2.88M | 2.35M | 4.13M | 4.3M |
| Pretax Margin % | 7.71% | 17.8% | 16.25% | 14.29% | 13.87% | 14.53% | 20.26% | 20.56% |
| Income Tax | 214.57K | 763.88K | 343.71K | 36.11K | 248.64K | 147.15K | 479.63K | 616.88K |
| Effective Tax Rate % | 13.45% | 18.26% | 10.67% | 1.32% | 8.63% | 6.25% | 11.62% | 14.35% |
| Net Income | 1.19M | 3.68M | 2.88M | 2.71M | 2.63M | 2.21M | 3.65M | 3.68M |
| Net Margin % | 5.76% | 15.64% | 14.52% | 14.1% | 12.67% | 13.62% | 17.91% | 17.61% |
| Net Income Growth % | -67.59% | 27.71% | 6.34% | 2.84% | 19.3% | -39.52% | -0.93% | - |
| Net Income (Continuing) | 1.38M | 3.42M | 2.88M | 2.71M | 2.63M | 2.21M | 3.65M | 3.68M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -66.25K | -262.72K | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.15 | 0.47 | 0.40 | 0.40 | 0.20 | 0.11 | 0.18 | 0.18 |
| EPS Growth % | -68.09% | 18.69% | -1% | 104.08% | 78.18% | -39.56% | -1.09% | - |
| EPS (Basic) | 0.15 | 0.47 | 0.40 | 0.40 | 0.20 | 0.11 | 0.18 | 0.18 |
| Diluted Shares Outstanding | 7.83M | 7.82M | 7.26M | 6.75M | 13.38M | 20M | 20M | 20M |
| Basic Shares Outstanding | 7.83M | 7.82M | 7.26M | 6.75M | 13.38M | 20.01M | 20.01M | 20M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Export market demand volatility
As reported in recent financial filings, ZJYL experienced a 16.5% revenue contraction in 2025Q4, marking a persistent trend of volatility that suggests the company's transactional, export-heavy business model is struggling to maintain consistent volume in its primary international markets, particularly within the Japanese elderly care sector.
The inconsistent revenue trajectory indicates that the company lacks a recurring revenue base, leaving it highly susceptible to distributor inventory cycles and shifting procurement patterns. Investors should monitor whether this deceleration reflects a structural loss of market share or merely temporary fluctuations in international healthcare reimbursement timing.
Based on the provided income statement data, ZJYL's gross margin has fluctuated significantly, reaching a low of 25.6% in 2025Q2 before recovering to 33.7% in 2025Q4, which highlights the company's limited pricing power and vulnerability to raw material cost spikes in aluminum and steel.
The inability to maintain stable gross margins suggests that the company functions more as a specialized fabricator than a high-margin medical technology provider. This lack of pricing power implies that any sustained increase in commodity costs will likely compress profitability further, given the current competitive landscape.
According to historical income statements, ZJYL's operating income has shown extreme sensitivity to revenue shifts, with operating margins swinging from 18.6% in 2024Q4 to a negative 4.6% in 2025Q2, indicating a lack of scalable operating leverage within the current cost structure.
The high variability in operating income suggests that the company's SG&A expenses are not sufficiently optimized to absorb revenue declines. This operational rigidity warrants further investigation into whether management can effectively control overhead costs during periods of top-line contraction.
As evidenced by the 2025Q4 figures, the net margin of 11.8% significantly outpaces the operating margin of 9.8%, suggesting that ZJYL's reported net income is being bolstered by non-operating items, such as government subsidies or currency gains, rather than core manufacturing efficiency.
Investors should be cautious of this reliance on non-operating income, as it may mask the underlying weakness in the primary business. The discrepancy between operating and net profitability implies that the quality of earnings is currently lower than the headline figures might initially suggest.
Based on the provided financial data, the sharp 33.3% decline in EPS during 2025Q4, despite a recovery in gross margins, suggests that the company's profitability is fragile and potentially unsustainable without continued support from non-core income sources or favorable currency fluctuations.
Short-term improvements in margins appear to be offset by broader operational inefficiencies, raising concerns about the company's long-term earnings durability. The market may be overestimating the stability of these results, given the company's historical tendency for erratic quarterly performance.
Quick answers to the most common questions about buying ZJYL stock.
For fiscal year 2025, Jin Medical International Ltd. (ZJYL) reported total revenue of $20.7M. This represents a 1.1% decline compared to $20.9M in 2018.
Jin Medical International Ltd. (ZJYL) is profitable, generating $1.2M in net income for the fiscal year ending 2025 with a net profit margin of 5.8%.
Jin Medical International Ltd. (ZJYL) reported an operating income of $0.6M, resulting in an operating profit margin of 2.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Jin Medical International Ltd. (ZJYL) generated $6.0M in gross profit for the year, representing a gross profit margin of 29.2%. This demonstrates the company's core pricing power and production efficiency.