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Sunday 8 November 2026
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HeartCore Enterprises, Inc.
HTCRTechnology Software Application
HeartCore Enterprises, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.0 million, down 70.5% from fiscal 2024.
- Revenue
- +71.6%
- EPS
- −245.0%
- Free cash flow
- −383.3%
- Total debt
- −69.1%
Quarter to June 2026, against a year earlier
1.51
0.19
−11.18%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 7 | 9 | 11 | 9 | 22 | 30 | 9 | 6 | +3.7% | 20 | — | — | +118.9% | |
| Gross margin, % | — | — | — | 36.92 | 44.52 | 47.94 | 38.00 | 36.93 | 48.40 | 35.14 | 40.70 | (1.8) pt | ||||||
| EBT | — | — | — | (1) | 0 | 0 | (7) | (5) | (6) | (4) | (5) | +21.0% | ||||||
| EBT margin, % | — | — | — | (18.27) | 2.52 | 0.14 | (75.79) | (22.94) | (18.13) | (46.15) | (74.41) | (27.9) pt | ||||||
| Net income | — | 0 | — | (1) | 0 | 0 | (7) | (5) | (5) | 5 | 4 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 0.37 | 12.47 | 14.20 | 9.84 | 21.41 | 29.04 | 7.77 | 4.59 | +65.9% | |||||
| Earnings | — | — | — | (0.06) | 0.21 | (0.43) | (7.40) | (4.20) | (1.40) | 5.00 | 3.72 | n/m | ||||||
| Cash flow | — | — | — | (0.04) | 1.03 | 1.01 | (5.37) | (4.25) | (3.72) | (2.70) | (2.58) | +106.0% | ||||||
| Capex | — | — | — | 0.00 | (0.04) | (0.05) | (0.06) | (0.49) | (0.01) | 0.00 | (0.01) | n/m | ||||||
| Free cash flow | — | — | — | (0.04) | 0.99 | 0.96 | (5.43) | (4.74) | (3.72) | (2.70) | (2.58) | +106.0% | ||||||
| Book value | — | — | — | (0.13) | (0.83) | (0.73) | 5.37 | 7.52 | 3.31 | 6.31 | 3.59 | n/m | ||||||
| Shares, m | — | — | — | 19 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | (37.5%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.25 | 0.41 | 0.2 | |||||
| P/S | — | — | — | 6.97 | 6.97 | 6.97 | 1.80 | 0.63 | 1.25 | 0.98 | 0.33 | 3.7 | ||||||
| P/B | — | — | — | 0.00 | 0.00 | 0.00 | 3.30 | 1.80 | 10.98 | 1.07 | 0.46 | 2.4 | ||||||
| EV/Sales | — | — | — | 6.93 | 6.93 | 6.93 | 1.19 | 0.64 | 1.06 | 0.27 | (0.10) | 3.4 | ||||||
| EV/FCF | — | — | — | 102.85 | 102.85 | 102.85 | (2.16) | (2.91) | (8.21) | (0.62) | 0.18 | 42.1 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | (1) | 1 | 1 | (5) | (4) | (4) | (3) | (4) | +28.7% | |||||
| Capex | — | — | — | 0 | 0 | 0 | 0 | (1) | 0 | — | 0 | (24.8%) | ||||||
| Free cash flow | — | — | — | (1) | 1 | 1 | (5) | (5) | (4) | (3) | (4) | +28.7% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | (2) | 1 | 0 | 5 | (1) | 2 | 3 | 1 | n/m | |||||
| Net debt | — | — | — | 7 | 1 | 0 | (5) | 0 | (6) | (5) | (3) | n/m | ||||||
| Shareholders’ equity | — | — | — | (2) | (1) | (1) | 5 | 8 | 3 | 7 | 5 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | (30.81) | 1.65 | (3.47) | (62.81) | (26.38) | (8.82) | 42.18 | 33.45 | +73.0 pt | |||||
| ROIC | — | — | — | 0.00 | 43.69 | 0.00 | 0.00 | (32.50) | 0.00 | (92.64) | (121.74) | (92.6) pt | ||||||
| ROE | — | — | — | 63.61 | (9.94) | 58.15 | (314.34) | (67.18) | (26.62) | 113.39 | 109.42 | +49.8 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 45 | 14 | 16 | 12 | 44 | — | (0.6%) | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 0.24 | 0.63 | 1.37 | 2.53 | 0.20 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
HeartCore Enterprises, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| AUUD Auddia Inc. | $3.4M | — (loss-making) | — (loss-making) | −88.27% (below 0%: shrinking) | n/m | −110.94% (below 0%: shrinking) | (768.42%) | (39,789.47%) | Compare |
| JTAI Jet.AI Inc. | $3.2M | 0.0× | — (loss-making) | +139.01% (above 0%: growing) | n/m | +5.16% (above 0%: growing) | (3.45%) | (50.43%) | Compare |
| WCT Wellchange Holdings Company Limited | $2.9M | — | — | — | — | −893.52% (below 0%: shrinking) | — | — | Compare |
| RMSG Real Messenger Corporation | $2.9M | — (loss-making) | — | — | n/m | −340.95% (below 0%: shrinking) | — | 0.00% | Compare |
| CXAI CXApp Inc. | $2.8M | — (loss-making) | — (loss-making) | +169.75% (above 0%: growing) | n/m | +4.63% (above 0%: growing) | 53.88% | (105.29%) | Compare |
| HTCR HeartCore Enterprises, Inc. | $2.6M | 0.4× | 16.4× | +71.60% (above 0%: growing) | n/m | −383.28% (below 0%: shrinking) | (21.84%) | (256.38%) | |
| MASK 3 E Network Technology Group Ltd | $2.5M | — | — | — | — | — | — | — | Compare |
| OMQS OMNIQ Corp. | $2.4M | — (loss-making) | — (loss-making) | −5.47% (below 0%: shrinking) | n/m | −81.56% (below 0%: shrinking) | 20.61% | (30.06%) | Compare |
| RCT RedCloud Holdings plc | $2.3M | — | — | — | — | −194.13% (below 0%: shrinking) | — | — | Compare |
| Median of peers | $2.8M | — | — | +66.77% | — | −110.94% | 8.58% | (50.43%) |
Pay and ownership Proxy statement filed 17 August 2026
Ownership
Directors and executive officers, together
36.13%
Sumitaka Yamamoto
35.51%
Prakash Sadasivam
7.44%
Hnatko Capital Inc.
6.73%
Daishin Yasui
6.13%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement