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RAY

Raytech Holding Limited Ordinary Shares

RAY

Raytech Holding Limited Ordinary Shares • NASDAQ
$1.78 ▼ -3.26% (-0.06)
Market Cap $4.85 M
52w High $58.88
52w Low $1.40
Dividend Yield 0%
P/E 1.8
Volume 14.03K
Outstanding Shares 2.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $35.491M ▼ $4.929M ▼ $3.616M ▼ 10.19% ▼ $0.2 ▼ $3.732M ▼
Q2-2025 $43.249M ▲ $5.229M ▲ $4.652M ▲ 10.756% ▲ $0.28 ▲ $3.921M ▼
Q4-2024 $33.955M ▲ $1.798M ▲ $3.519M ▼ 10.363% ▼ $0.22 ▼ $4.401M ▼
Q2-2024 $33.017M ▲ $1.768M ▼ $6.418M ▲ 19.439% ▲ $0.4 ▲ $6.963M ▲
Q4-2023 $27.054M $1.776M $4.347M 16.069% $0.28 $4.823M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $84.851M ▲ $94.891M ▼ $17.929M ▼ $76.962M ▲
Q2-2025 $81.047M ▲ $95.784M ▲ $22.438M ▼ $73.346M ▲
Q4-2024 $35.886M ▼ $58.113M ▲ $27.038M ▲ $31.075M ▲
Q2-2024 $37.764M ▲ $50.201M ▲ $22.645M ▲ $27.557M ▲
Q2-2023 $22.297M $29.562M $12.77M $16.791M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $3.616M ▼ $3.599M ▲ $0 ▼ $98.876K ▼ $0 $3.599M ▲
Q2-2025 $4.652M ▲ $2.621M ▲ $145.166K ▼ $42.772M ▲ $0 ▲ $2.621M ▲
Q4-2024 $3.519M ▼ $-664.682K ▼ $636.158K ▲ $-1.818M ▼ $-938.958K ▼ $-664.682K ▼
Q2-2024 $6.418M ▲ $16.413M ▲ $210.702K ▲ $-257.702K ▲ $8.201M ▲ $16.413M ▲
Q4-2023 $4.347M $1.706M $-14.646K $-2.468M $-467.253K $1.706M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been inching up over the past few years from a very small base, showing gradual business expansion rather than fast growth. Profitability has been surprisingly steady for such a small company: operating profit and net profit have stayed positive and fairly stable each year, even when gross margin was thinner earlier in the period. That suggests a lean, tightly controlled cost structure. Earnings per share have moved around somewhat, which is not unusual for a very small business where even modest changes in operations, share count, or one‑off items can have a visible impact. Overall, this is a small but consistently profitable income statement with modest top‑line growth and disciplined expenses, but still very dependent on a narrow business model and customer set.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively conservative. Total assets have grown in recent years, driven mostly by higher cash balances, which gives the company a liquidity cushion. There is effectively no financial debt, so the business is not burdened by interest payments or refinancing risk. Equity has been building over time as profits are retained, which strengthens the company’s capital base. At the same time, the absolute size of the balance sheet is very small, which means the company lacks the scale and diversification that larger peers enjoy. In short, it appears financially clean and lightly leveraged, but also quite small and potentially more vulnerable to shocks.

Cash Flow

Cash Flow Cash generation has been positive in the most recent years, with operating cash flow closely matching reported profits, which supports the quality of earnings. Free cash flow is essentially the same as operating cash flow because capital spending has been minimal, reflecting an asset‑light model that relies on external manufacturing rather than heavy investment in plants and equipment. There were a couple of years with negligible cash flow, underlining that cash generation can be lumpy for a business of this scale. Overall, the recent pattern points to a cash‑generative, low‑investment model, but with volatility that mirrors its concentrated customer and supplier base.

Competitive Edge

Competitive Edge Raytech’s competitive position is built more on relationships and execution than on proprietary technology or brands. It acts as an OEM/ODM partner to established international brands, especially in Japan, handling product sourcing, development collaboration, and coordination with Chinese manufacturers. Its key strengths are long‑standing ties with a few major customers and efficient supply chain management with trusted manufacturing partners. However, this creates concentration risk: a large share of revenue depends on a small number of clients and on a primary manufacturing partner linked to the CEO. Losing a major customer or facing disruption at the main supplier would meaningfully hurt the business. The company has a defensible niche with its partners, but its moat is narrow and relational rather than structural.

Innovation and R&D

Innovation and R&D Innovation at Raytech is practical and collaborative rather than lab‑driven or patent‑heavy. The company works closely with brand owners to refine product designs, assess feasibility, and incorporate features such as more advanced temperature control in hair styling tools. The intellectual property for these products typically belongs to the customers, so Raytech’s edge lies in know‑how, industry experience, and the ability to turn concepts into manufacturable products reliably and cost‑effectively. Its move to explore oral care electrical products shows an attempt to broaden its product scope using existing capabilities. The upside is flexibility and low R&D overhead; the downside is limited ownership of proprietary technology and dependence on clients for product direction and long‑term innovation.

Summary

Raytech is a very small, asset‑light OEM/ODM player in personal care appliances that has managed to stay consistently profitable, grow revenue gradually, and build a cash‑rich, debt‑free balance sheet. Its business model emphasizes collaboration, sourcing expertise, and long‑term relationships with a handful of major brand customers and manufacturing partners in China. This provides a focused niche and operational efficiency but also introduces significant concentration risk: performance is tightly linked to a few key relationships. Cash flow has recently been solid and capital needs are low, supporting a conservative financial profile. The planned reverse stock split suggests an effort to maintain market listing standards and may reflect the constraints of operating at such a small scale. Overall, Raytech combines financial prudence and steady profitability with meaningful exposure to customer and supplier dependency, limited scale, and a relatively narrow competitive moat.

NEWS

October 29, 2025 · 10:20 PM UTC

Raytech Holding Limited Announces 16 for 1 Share Consolidation

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October 22, 2025 · 6:00 PM UTC

Raytech Holding Limited Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

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