Detailed financial statements for Fly-E Group, Inc. Common Stock (FLYE): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Fly-E Group, Inc. is a company that focuses on the design, installation, and sale of advanced electric personal transportation. Operating primarily under its "Fly E-Bike" brand, the company markets smart electric motorcycles, electric bikes, and electric scooters throughout the United States and Canada. Its diverse product lineup extends to include e-mopeds, e-tricycles, and even traditional bicycles.
Analysis Summary
Trailing-twelve-month margins: gross margin 16.4%, operating margin -51.4%, net margin -67.9%.
At the current price of $1.63, FLYE has negative trailing earnings (P/E not meaningful) and an ROE of -66.56%. Market capitalisation stands at $3M.
Balance sheet quality for FLYE: current ratio of 2.5, net debt of $10.5M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $17.2M | $21.8M | $32.2M | $25.4M | $19.1M |
| Cost of Revenue | $14.0M | $13.5M | $19.1M | $15.0M | $14.4M |
| Gross Profit | $3.2M | $8.3M | $13.1M | $10.5M | $4.7M |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $2.6M | $6.0M | $9.8M | $15.0M | $11.1M |
| Operating Expenses | $2.6M | $6.0M | $9.8M | $15.0M | $11.1M |
| Operating Income | $627732 | $2.3M | $3.3M | -$4.6M | -$6.4M |
| EBITDA | $1.6M | $4.4M | $5.8M | $1.2M | -$6.3M |
| Interest Expense | 0 | $100387 | $152050 | $405615 | $1.8M |
| Pre-tax Income | $579229 | $2.2M | $3.1M | -$5.0M | -$8.9M |
| Income Tax | $171208 | $821896 | $1.2M | $336166 | -$338679 |
| Net Income | $408021 | $1.4M | $1.9M | -$5.3M | -$9.3M |
| EPS | $1.66 | $5.61 | $7.71 | $-21.52 | $-8.38 |
| EPS (Diluted) | $1.66 | $5.61 | $7.71 | $-21.52 | $-8.38 |
| Shares Outstanding (Diluted) | $245875 | $245875 | $245875 | $245875 | $1.1M |
Balance Sheet (10y)
| Year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Cash & Equivalents | $395034 | $358894 | $1.4M | $840102 | $265236 |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 |
| Receivables | $143651 | $525642 | $779974 | $1.3M | $7.0M |
| Inventory | $4.6M | $3.8M | $5.4M | $6.4M | $2.3M |
| Total Current Assets | $5.2M | $5.5M | $8.1M | $14.0M | $16.8M |
| Property, Plant & Equipment | $8.5M | $11.0M | $18.2M | $18.2M | $10.1M |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | $1.3M | $662445 | $431193 |
| Total Assets | $14.7M | $17.3M | $29.0M | $33.7M | $29.5M |
| Accounts Payable | $1.1M | $1.0M | $1.2M | $1.3M | $433188 |
| Short-term Debt | 0 | $412224 | $1.2M | $5.3M | $4.0M |
| Total Current Liabilities | $6.4M | $4.9M | $7.8M | $12.7M | $6.8M |
| Long-term Debt | 0 | $873228 | $412817 | $2.1M | $1.9M |
| Total Liabilities | $13.5M | $14.8M | $22.2M | $23.9M | $12.1M |
| Retained Earnings | $1.1M | $2.5M | $4.4M | -$895510 | -$10.2M |
| Total Equity | $1.1M | $2.5M | $6.8M | $9.8M | $17.4M |
| Total Debt | $8.4M | $12.1M | $18.5M | $19.1M | $10.8M |
| Net Debt | $8.0M | $11.7M | $17.1M | $18.2M | $10.5M |
| Working Capital | -$1.2M | $594148 | $341392 | $1.3M | $10.0M |
Cash Flow (10y)
| Year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Net Income | $408021 | $1.4M | $1.9M | -$5.3M | -$9.3M |
| Depreciation & Amortization | $1.0M | $2.1M | $2.6M | $5.8M | $2.8M |
| Stock-based Compensation | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | -$1.2M | -$2.3M | -$822911 | -$11.4M | -$7.0M |
| Operating Cash Flow | $11688 | $1.8M | $4.3M | -$10.1M | -$13.8M |
| Capital Expenditure | -$323544 | -$442915 | -$3.0M | -$3.0M | -$74609 |
| Acquisitions | 0 | 0 | 0 | -$54774 | -$447279 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$311856 | $1.3M | $1.3M | -$13.1M | -$13.9M |
Growth & Margins (10y)
| Year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue Growth (YoY) | +26.7% | +47.9% | -21.0% | -25.0% | |
| Net Income Growth (YoY) | +237.9% | +37.5% | -379.2% | -75.0% | |
| EPS Growth (YoY) | +238.0% | +37.4% | -379.1% | +61.1% | |
| Shares Change (YoY) | +0.0% | +0.0% | +0.0% | +349.2% | |
| FCF Growth (YoY) | +521.4% | -2.0% | -1115.7% | -6.4% | |
| Gross Margin | 18.9% | 38.1% | 40.7% | 41.1% | 24.4% |
| Operating Margin | 3.7% | 10.6% | 10.1% | -17.9% | -33.8% |
| EBITDA Margin | 9.2% | 20.0% | 18.0% | 4.8% | -33.0% |
| Net Margin | 2.4% | 6.3% | 5.9% | -20.8% | -48.6% |
| FCF Margin | -1.8% | 6.0% | 4.0% | -51.5% | -73.0% |
| Effective Tax Rate | 29.6% | 37.4% | 38.4% | -6.8% | 3.8% |
Per-Share Data (10y)
| Year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| FCF Per Share | $-1.27 | $5.35 | $5.24 | $-53.22 | $-12.61 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $245875 | $245875 | $245875 | $245875 | $1.1M |
What to look at in Consumer Cyclical companies
- 5y avg operating margin (Cycle average) — Look at the cycle average, not the current year (peak or trough).
- Inventory turnover (>=4x/year) — Healthy retail rotates inventory fast. A drop signals weak demand.
- 5y avg ROIC (>=12%) — Cyclicals with avg ROIC >12% are structural winners.
- Net debt / EBITDA (peak) (<3x trough) — In cyclicals debt kills in recessions.
- Current Ratio (>1.5x) — Survives 12-18 months without operating cash.
- Altman Z-Score (>2.99 safe) — Bankruptcy model — key in cyclicals sensitive to recessions.
Profitability
| Return on Equity | -66.56% |
| Return on Invested Capital | -35.85% |
| Return on Assets | -42.77% |
| Gross Margin | 16.37% |
| Operating Margin | -51.38% |
| Net Margin | -67.88% |
Financial Health
| Debt / Equity | 0.75 |
| Current Ratio | 2.02 |
Key Ratios (10y)
| Year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| P/E | 287.95 | 85.20 | 62.00 | -2.02 | -0.25 |
| P/B | 104.76 | 47.00 | 17.33 | 1.09 | 0.13 |
| P/S | 6.84 | 5.40 | 3.65 | 0.42 | 0.12 |
| Gross Margin | 18.9% | 38.1% | 40.7% | 41.1% | 24.4% |
| Operating Margin | 3.7% | 10.6% | 10.1% | -17.9% | -33.8% |
| Net Margin | 2.4% | 6.3% | 5.9% | -20.8% | -48.6% |
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Explore sector: Consumer Cyclical · Auto - Manufacturers
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