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BGIN BLOCKCHAIN Ltd (BGIN) financial health, profit and balance sheet · Scorvest

BGIN · Nasdaq · United States · Finance Services

BGIN BLOCKCHAIN Ltd

Singapore, Singapore · Fiscal year ends in December · Figures in USD

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In shortBGIN BLOCKCHAIN Ltd is loss-making.

Financial health

Mixed

Built from five areas over the last five annual reports. Tap an area to see the figures behind it. Bank or insurer: tests that do not apply to them are left out.

How is this score calculated? →

Profitability0

Operating marginShare of each sale left after running the business, before interest and tax.	-261.3%	0/100
Net marginShare of each sale left as profit after every cost, interest and tax.	-262.6%	0/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	-134.0%	0/100

Weight in the score: 25%

Balance sheet100
Equity / assets 58.7% 100/100
Weight in the score: 25%

Equity / assets	58.7%	100/100

Cash generation–

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	-253.8%	n/a
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	–	n/a
Years with positive free cash flow (last 5)	0 of 3	n/a

Weight in the score: 20%

Stability21
Profitable years (last 5) 2 of 3 67/100
Years of revenue decline (last 5) 1 of 2 17/100
Revenue growth volatility 67.3% 0/100
Operating margin volatility 179.3% 0/100
Weight in the score: 20%
Growth–
Revenue growth, 3-year average – n/a
EPS growth, 3-year average – n/a
Weight in the score: 10%

Profitable years (last 5)	2 of 3	67/100
Years of revenue decline (last 5)	1 of 2	17/100
Revenue growth volatility	67.3%	0/100
Operating margin volatility	179.3%	0/100

Revenue growth, 3-year average	–	n/a
EPS growth, 3-year average	–	n/a

Fiscal year 2025 · change vs prior year

Revenue: $67.4M; ▼ 77.7%
Net income: −$177.0M; ▼ 367.5%
Total assets: $92.8M; ▼ 65.7%
Operating margin: −261.3%; −288.3 pts
Cash & investments: $26.3M; –
Total debt: –; –
Diluted EPS: −$1.62; ▼ 365.6%
Return on equity: −134.0%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

Revenue and net income

RevenueNet income

Margins

Statements

The last 3 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY23	FY24	FY25
Revenue	257	302	67
Cost of revenue	58	175	143
Gross profit	199	128	(76)
Research & development	10	16	20
Operating income	174	82	(176)
Pre-tax income	174	81	(175)
Income tax	34	15	2.3
Net income	140	66	(177)
Diluted EPS	$1.30	$0.61	−$1.62
Diluted shares (millions)	108	108	109

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Risk checks

Altman Z'' score

Not computed: the model does not apply to banks and insurers.

Piotroski F-score

2/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: failed
Positive operating cash flow: failed
Return on assets improved: failed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: failed
No share dilution: failed
Gross margin improved: failed
Asset turnover improved: failed

Sources

20-FPeriod ending Dec 31, 2025Filed Apr 28, 2026Open the report ↗

All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works

Latest annual report: Dec 31, 2025 · Data updated Apr 28, 2026