Saturday 17 October 2026 Export HIHO’s income statement to Excel — free account

Highway Holdings Limited

Highway Holdings Limited’s revenue for fiscal 2026 (year ended March 2026) was $4.8 million, down 35.2% from fiscal 2025. In the quarter to June 2026, revenue grew 29.2%, EPS grew 56.3% and free cash flow fell 1,093.3%, each against the same quarter a year earlier.

0.77 0.05 −6.10%

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Market cap: $3.8M
P/E: 0.0×
Fwd P/E: −31.1×
Dividend yield: 13.0%
F-score: 1/9
Altman Z: −0.34
Beneish M: −1.44
Dividend safety: 20/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 29.54%

Capital & Financial Ratios $m

Market Cap 3.79

Revenue 5.26

Net Income (1.54)

Free Cash Flow (0.08)

Net Debt (3.32)

Current Ratio 2.42

Debt/Equity 0.10

P/E ratio 0.00

Fwd P/E (31.10)

P/S ratio 0.67

P/B ratio 0.64

Past 5Y EPS Growth —

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth (26.98%)

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 14.71%

10-year low 10-year high

P/B against its own 10 years 2.36%

10-year low 10-year high

EV/Sales against its own 10 years 1.40%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.10

Annual Dividend Yield 12.99%

	total	individual payouts
2026	0.10	0.05 0.05
2024	0.12	0.05 0.02 0.05
2023	0.15	0.10 0.05
2022	0.25	0.05 0.15 0.05
2021	0.14	0.02 0.06 0.06
2020	0.24	0.08 0.10 0.06
2019	Powerpack
2018	0.35	0.10 0.10 0.10 0.05
2017	0.29	0.07 0.10 0.06 0.06
2016	0.30	0.10 0.10 0.10

special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	7	6	4	4
Receivables	1	1	1	1
Inventory	2	1	1	2
Other	—	—	—	—
	10	9	7	7

	2024	2025	2026	Q'26
Payables	1	1	0	0
ST’ Debt	—	—	0	0
Other	—	—	—	—
	4	3	3	3

Compound Annual Growth %

	10y	5y	3y
Sales	(14.47%)	(12.12%)	(22.30%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(7.56%)	(11.07%)	(12.86%)

Revenue $m

	Jun	Sep	Dec	Mar	Year
’26	2	—	—	—	—
’26	2	1	1	1	5
’25	2	2	2	1	7
’24	1	1	2	1	6
’23	3	3	3	2	10
’22	3	3	3	3	12
’21	2	3	3	2	9

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’26	(1)	—	—	—	(1)
’25	0	—	—	—	0
’24	0	—	—	—	0
’23	—	—	—	—	1
’22	—	—	—	—	0
’21	—	—	—	—	0

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’26	(1)	—	—	—	(1)
’25	0	—	—	—	0
’24	0	—	—	—	0
’23	0	—	—	—	1
’22	0	—	—	—	0
’21	0	—	—	—	0

Fiscal quarters ending in the months shown.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	0.02	—	—	—	—
’26	0.01	(0.08)	(0.02)	(0.24)	(0.33)
’25	0.02	0.05	0.02	(0.07)	0.02
’24	(0.08)	0.05	0.07	(0.26)	(0.22)
’23	0.09	0.10	0.01	(0.28)	(0.07)
’22	0.08	0.06	0.06	(0.09)	0.11
’21	(0.06)	0.06	0.02	(0.14)	(0.12)

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	3.10	2.27	1.55	1.61	2.92	1.71	1.80	1.70	0.77	0.60	Analyst estimates 2027–2029 Powerpack
	High	4.35	6.55	3.90	5.29	5.82	4.01	3.08	2.88	2.21	1.57
People
People	Employees	260	197	141	206	200	204	170	142	147	99
	Revenue/emp, $m	0.08	0.10	0.10	0.06	0.05	0.06	0.06	0.04	0.05	0.05
Income, $m
Income, $m	Revenue	20	19	14	13	9	12	10	6	7	5
	Gross margin, %	28.41	35.18	25.08	33.07	29.53	30.49	30.67	27.02	33.32	28.43
	EBT	1	2	(1)	1	(1)	1	0	(1)	0	(2)
	EBT margin, %	3.88	10.81	(4.86)	7.13	(6.54)	4.59	(3.06)	(18.02)	1.98	(42.25)
	Net income	1	2	(1)	1	0	0	0	(1)	0	(2)
	Depreciation	0	0	0	0	0	0	0	0	0	0
Per share, $
Per share, $	Revenue	5.16	5.04	3.76	3.21	2.29	3.07	2.52	1.45	1.68	1.06
	Earnings	0.14	0.41	(0.17)	0.18	(0.12)	0.11	(0.07)	(0.22)	0.02	(0.33)
	Cash flow	0.59	0.63	(0.11)	0.11	(0.03)	(0.04)	0.20	0.09	(0.08)	(0.31)
	Capex	(0.05)	(0.04)	(0.17)	(0.02)	(0.02)	(0.03)	(0.02)	(0.02)	0.05	0.00
	Free cash flow	0.53	0.59	(0.29)	0.10	(0.05)	(0.07)	0.18	0.07	(0.03)	(0.31)
	Book value	2.97	3.10	2.67	2.79	2.44	2.30	2.02	1.52	1.42	1.19
	Shares, m	4	4	4	4	4	4	4	4	4	5
Valuation, ×
Valuation, ×	P/E	27.86	11.67	0.00	11.94	0.00	25.64	0.00	0.00	92.50	0.00
	P/S	0.76	0.97	0.91	0.63	1.63	0.92	0.81	1.45	1.10	0.72
	P/B	1.31	1.58	1.28	0.73	1.53	1.23	1.01	1.38	1.30	0.64
	EV/Sales	0.24	0.38	0.29	0.15	1.00	0.53	0.33	0.67	0.52	(0.08)
	EV/FCF	1.70	1.45	1.03	0.54	6.81	(5.53)	5.35	3.31	3.15	4.68
Cash, $m
Cash, $m	Operating cash flow	2	2	0	0	0	0	1	0	0	(1)
	Capex	0	0	(1)	0	0	0	0	0	0	0
	Free cash flow	2	2	(1)	0	0	0	1	0	0	(1)
Balance, $m
Balance, $m	Working capital	10	11	8	8	8	7	7	6	5	4
	Total debt	—	—	—	3	2	1	2	—	—	1
	Net debt	(10)	(11)	(9)	(6)	(6)	(5)	(5)	(7)	(6)	(4)
	Shareholders’ equity	11	12	10	11	10	9	8	7	6	5
Returns, %
Returns, %	ROA	3.05	8.69	(3.77)	4.11	(2.74)	2.92	(2.05)	(7.61)	1.02	(14.83)
	ROIC	37.10	231.60	(36.02)	9.51	(9.68)	7.95	(8.98)	(2,755.07)	(113.35)	(90.34)
	ROE	4.53	13.42	(5.75)	6.52	(4.46)	4.65	(3.36)	(12.91)	1.64	(26.04)

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
IIIN Insteel Industries, Inc.	$574.4M	15.9×	17.4×	+9.88% (above 0%: growing)	−41.03% (below 0%: shrinking)	−61.18% (below 0%: shrinking)	10.17%	5.86%	Compare
MEC Mayville Engineering Company, Inc.	$362.4M	— (loss-making)	— (loss-making)	+23.16% (above 0%: growing)	n/m	−153.04% (below 0%: shrinking)	10.86%	0.24%	Compare
TG Tredegar Corporation	$275.4M	8.2×	12.1×	+19.82% (above 0%: growing)	+240.00% (above 0%: growing)	+16.12% (above 0%: growing)	13.42%	3.81%	Compare
AP Ampco-Pittsburgh Corporation	$174.6M	— (loss-making)	5.9×	−9.01% (below 0%: shrinking)	n/m	−44.03% (below 0%: shrinking)	21.61%	4.93%	Compare
TPCS Techprecision Corp.	$54.5M	— (loss-making)	—	+23.27% (above 0%: growing)	n/m	+16.03% (above 0%: growing)	15.39%	(0.49%)	Compare
TRSG Tungray Technologies Inc.	$17.3M	—	—	—	—	−165.61% (below 0%: shrinking)	—	—	Compare
MTEN Mingteng International Corporation Inc.	$7.2M	—	—	—	—	−297.60% (below 0%: shrinking)	—	—	Compare
HIHO Highway Holdings Limited	$3.8M	— (loss-making)	— (loss-making)	+29.22% (above 0%: growing)	+56.25% (above 0%: growing)	−1,093.33% (below 0%: shrinking)	41.77%	2.95%
OLOX Safe & Green Holdings Corp.	$1.2M	0.0×	72.0×	+193.65% (above 0%: growing)	n/m	+130.79% (above 0%: growing)	11.68%	(138.67%)	Compare
Median of peers	$114.6M	8.2×	14.8×	+21.49%	—	−52.60%	12.55%	2.03%

All 18 Metal Fabrication stocks →

Highway Holdings Limited (HIHO) key facts

Concern: Highway Holdings Limited’s revenue for fiscal 2026 (year ended March 2026) was $4.8 million, down 35.2% from fiscal 2025.
Highway Holdings Limited (HIHO) is a Metal Fabrication company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, HIHO traded at $0.77, a market capitalization of $3.8 million.
Highway Holdings Limited pays an annual dividend of $0.10 per share, a yield of 13.0%.
Return on equity was −26.0% and debt-to-equity 0.10.
Its Piotroski F-score is 1 out of 9 and its Altman Z-score is −0.34 (distress zone) for fiscal 2026.