OTC · Financial Statements

HWAL Inc. (HWAL) Financial Statements

$0.08 OTC: HWAL Market Cap $11.19M

HWAL Inc. most recently reported annual revenue of $0, net profit of $0. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

HWAL Inc.: net profit was positive in 0 of 11 reported years; operating margin moved from -1075.4% to 45.6%, a shift of +1121.0 percentage points; the most recent year shows net profit of $0.

Income Statement — 11 Years (USD millions)

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	—	$0	$0	$1.0M	$0	$1.0M	$1.0M	$0	$0	$0	$0
Operating Expenses	—	$5.0M	$4.0M	$5.0M	$4.0M	$5.0M	$7.0M	$2.0M	$3.0M	$0	$0
Operating Profit	—	$-5.0M	$-4.0M	$-4.0M	$-3.0M	$-5.0M	$-7.0M	$-2.0M	$-3.0M	$0	$0
Operating Margin	0.0%	-1075.4%	-1346.9%	-534.2%	-2107.4%	-901.6%	-1267.5%	-456.9%	-1348.2%	23.5%	45.6%
Other Income	—	$0	$0	$0	$0	$0	$-17.0M	$0	$0	$0	$0
Interest	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Depreciation	$4.0M	$4.0M	$4.0M	$4.0M	$3.0M	$4.0M	$4.0M	$0	$0	$0	$0
Profit Before Tax	—	$-5.0M	$-4.0M	$-4.0M	$-3.0M	$-5.0M	$-24.0M	$-2.0M	$-3.0M	$0	$0
Tax	—	$24.3M	$28.4M	$27.7M	$25.7M	$0	$0	$0	$0	$0	$0
Net Profit	—	$-4.0M	$-3.0M	$-3.0M	$-3.0M	$-5.0M	$-24.0M	$-2.0M	$-3.0M	$0	$0
EPS	$0.00	$-53.57	$-1.83	$-0.22	$-0.04	$-0.06	$-0.26	$-0.02	$-0.03	$0.00	$0.00
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Mar '22	Jun '22	Sep '22	Dec '22	Mar '23	Jun '23	Sep '23	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25
Revenue	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Operating Expenses	$2.0M	$3.0M	$0	$1.0M	$0	$2.0M	$2.0M	$0	$0	$0	$0	$0
Operating Profit	$-2.0M	$-3.0M	$0	$-1.0M	$0	$-2.0M	$-2.0M	$0	$0	$0	$0	$0
Operating Margin	-2590.2%	-2137.1%	-2.7%	-662.8%	4.7%	-1109.7%	-922.6%	23.5%	69.2%	68.4%	68.4%	84.3%
Interest	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Profit Before Tax	$-2.0M	$-3.0M	$0	$3.0M	$0	$-2.0M	$-1.0M	$0	$0	$0	$0	$0
Tax	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Profit	$-2.0M	$-3.0M	$0	$3.0M	$0	$-2.0M	$-1.0M	$0	$0	$0	$0	$0
EPS	$-0.02	$-0.03	$0.00	$0.03	$0.00	$-0.02	$-0.01	$0.00	$0.00	$0.00	$0.00	$0.00

Over the 11 years reported for HWAL Inc., cash stood at $0 in the latest year, shareholders' equity was $0.

Balance Sheet — 11 Years (USD millions)

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	—	$68.0M	$64.0M	$61.0M	$60.0M	$22.0M	$0	$0	$0	$0	$0
Current Assets	—	$0	$0	$1.0M	$0	$0	$1.0M	$0	$0	$0	$0
Cash	—	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	—	$0	$0	$-1.0M	$0	$0	$0	$0	$0	$0	$0
Receivables	—	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Fixed Assets	—	$67.0M	$64.0M	$0	$0	$0	$0	$0	$0	$0	$0
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$0	$1.0M	$0	$0	$0	$0	$0	$0	$0	$0
Other Assets	—	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	—	$19.0M	$18.0M	$14.0M	$13.0M	$0	$0	$0	$0	$0	$0
Current Liabilities	—	$1.0M	$1.0M	$1.0M	$1.0M	$0	$0	$0	$0	$0	$0
Borrowings	$0	$2.0M	$2.0M	$1.0M	$1.0M	$0	$0	$0	$0	$0	$0
Other Liabilities	—	$17.0M	$16.0M	$14.0M	$13.0M	$0	$0	$0	$0	$0	$0
Equity	—	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Reserves	—	$49.0M	$47.0M	$46.0M	$47.0M	$22.0M	$0	$0	$0	$0	$0

For HWAL Inc., operating cash flow was positive in 0 of 11 reported years; free cash flow in the latest year was $0; free cash flow was positive in 0 of 11 years.

Cash Flow Statement — 11 Years (USD millions)

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$-1.0M	$-1.0M	$0	$-1.0M	$-1.0M	$0	$0	$0	$0	—	$0
Investing Cash Flow	$1.0M	$0	$0	$0	$0	$0	$0	$0	$0	—	$0
Financing Cash Flow	$0	$1.0M	$1.0M	$0	$0	$0	$0	$0	$0	—	$0
Net Cash Flow	$0	$0	$0	$0	$0	$0	$0	$0	$0	—	$0
Free Cash Flow	$-1.0M	$-1.0M	$0	$-1.0M	$-1.0M	$0	$0	$0	$0	$0	$0

Valuation & Return Ratios

Metric	Value
PEG Ratio	1.04
EV / EBITDA	82.37
FCF Yield	0.00%
Quick Ratio	0.76
Interest Coverage	—
Return 1Y	71.11%
Return 3Y	-59.26%
Return 5Y	—

HWAL Inc. (HWAL) financials — frequently asked questions

What is HWAL Inc.'s annual revenue?

HWAL Inc. (HWAL) reported annual revenue of $0 in its most recent fiscal year.

What is HWAL Inc.'s net profit?

HWAL Inc. (HWAL) reported net profit of $0 in its most recent fiscal year.

What is HWAL EV/EBITDA?

HWAL Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 82.37.

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