Farmmi, Inc.
FAMI · Canned, Fruits, Veg, Preserves, Jams & Jellies · EDGAR filings ↗
Grade
D42China-based edible-fungi trader whose revenue collapsed 56% with a $53M net loss and heavy customer/supplier concentration.
Strengths
- Low debt (D/E 0.01) and very high current ratio (9.4, 91st pct)
- Reported positive FCF and large net-asset base
Risks
- Revenue -56% (4th pct), net margin -190%, ROIC -35% (12th pct) — deep losses
- PRC/VIE governance, going-concern language, top customer 68% of revenue
Notable findings
- Net lossNet loss (net margin -189.8%)
- Customer concentration~40% of revenue from one customer/distributor — 0%, and 40
- Revenue declineRevenue -56.4% YoY
Key metrics
Gross margin
2.9%
Operating margin
-200.6%
Net margin
-189.8%
Return on equity
-42.8%
Return on assets
-36.1%
ROIC
-35.2%
Revenue growth (QoQ)
-56.4%
Debt / equity
0.0×
Current ratio
9.4×
Free cash flow
$52M
EBITDA
-$56M
Tangible book value
$115M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-02-10 | 2025-09-30 | 0001477932-26-000727 ↗ |
| 20-F | 2025-01-24 | 2024-09-30 | 0001477932-25-000434 ↗ |
| 20-F | 2024-01-29 | 2023-09-30 | 0001477932-24-000432 ↗ |
| 20-F | 2023-02-13 | 2022-09-30 | 0001477932-23-000928 ↗ |
| 20-F | 2022-01-26 | 2021-09-30 | 0001410578-22-000058 ↗ |
| 20-F | 2021-01-29 | 2020-09-30 | 0001104659-21-009423 ↗ |
| 20-F | 2019-12-31 | 2019-09-30 | 0001104659-19-077298 ↗ |
| 20-F | 2019-01-25 | 2018-09-30 | 0001144204-19-002888 ↗ |