Highway Holdings Limited Income Statement 2026-2009 | HIHO

Brief overview of financial performance at Highway Holdings Limited

The figures are compared over a five-year interval. The revenue attributed to Highway Holdings Limited moved from 12.6 million dollars to 7.4 million dollars between the two endpoints. The five-year change reached −41%, while CAGR stood at −10%. Sales followed a declining trajectory over the five years.

Gross profit was 4.2 million dollars at the start and 2.5 million dollars at the end of the period (−40.5%). The relationship between revenue and direct costs remained stable. At the margin level, the figure shifted from 33.1% to 33.3%. The economics of the core business remained steady.

EBITDA was 892 thousand dollars at the beginning and −526 thousand dollars at the end of the period (−159%). EBITDA underperformed the top-line trend. EBITDA margin was 7.1% at the start and −7.1% at the end. A lower EBITDA share weakens the quality of the result.

The five-year change in net income was −84.5%: from 686 thousand dollars to 106 thousand dollars. Lower net income weakens the overall financial picture.

Over the period, capitalization shifted from 17.8 million dollars to 7.2 million dollars (−59.7%). Market expectations deteriorated over the period.

Overall conclusion

Signs of deterioration dominate the five-year picture. The positive side is supported by a stable gross margin. Caution is warranted because of a weaker market valuation, a weaker final result and limited revenue growth. The key question is whether sales can be converted into sustainable profit.