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Internet retail · Consumer Cyclical · Fiscal year ends Dec 31
GigaCloud Technology reported revenue of $1.3B in the fiscal year ended Dec 2025, up 11.1% from the year before. Operating income was $145M, an operating margin of 11.2%, and net income was $137M. Operating cash flow of $191M less capital expenditure of $8M left free cash flow of $183M.
Ranks among the 14 internet retail companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 414 | 490 | 704 | 1,161 | 1,290 |
| Gross profit | 89.6 | 83.1 | 189 | 285 | 301 |
| Research & development | 0.0 | 1.4 | 3.9 | 9.8 | 10.8 |
| Selling, general & admin | 50.2 | 46.7 | 71.4 | 145 | 145 |
| Operating income | 39.4 | 35.0 | 110 | 131 | 145 |
| Interest expense | 0.3 | 0.6 | 1.2 | 0.3 | 0.2 |
| Pre-tax income | 37.7 | 31.2 | 115 | 141 | 161 |
| Income tax | 8.5 | 7.2 | 20.9 | 14.8 | 23.8 |
| Net income | 29.3 | 24.0 | 94.1 | 126 | 137 |
| Diluted EPS | 0.88 | 0.60 | 2.30 | 3.05 | 3.59 |
| Diluted shares | 10.2 | 24.4 | 40.9 | 41.2 | 38.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 63.2 | 144 | 183 | 260 | 380 |
| Receivables | 18.0 | 27.1 | 58.9 | 57.3 | 66.0 |
| Inventory | 81.4 | 78.3 | 132 | 172 | 188 |
| Current assets | 172 | 258 | 393 | 548 | 691 |
| Net PP&E | 11.1 | 13.1 | 24.6 | 29.5 | 32.3 |
| Goodwill | – | 0.0 | 12.6 | 12.6 | 12.6 |
| Total assets | 187 | 419 | 847 | 1,070 | 1,202 |
| Payables | 25.1 | 31.6 | 69.8 | 78.2 | 105 |
| Deferred revenue | 3.7 | 2.0 | 5.5 | 4.5 | 6.5 |
| Current liabilities | 57.0 | 103 | 206 | 264 | 342 |
| Short-term debt | 0.3 | 0.2 | 0.0 | – | – |
| Long-term debt | 0.2 | 0.0 | 0.0 | – | – |
| Total liabilities | 60.9 | 223 | 556 | 665 | 717 |
| Shareholders' equity | 99.2 | 195 | 290 | 405 | 486 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 8.6 | 49.7 | 133 | 158 | 191 |
| Capital expenditure | 1.8 | 0.7 | 4.4 | 15.5 | 7.9 |
| Free cash flow | 6.7 | 48.9 | 129 | 143 | 183 |
| Depreciation & amortisation | 0.8 | 1.4 | 2.9 | 8.5 | 8.3 |
| Stock-based compensation | 9.7 | 9.2 | 2.5 | 16.8 | 5.0 |
| Acquisitions | 0.0 | 0.0 | 86.6 | 0.0 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 18.3% | 43.6% | 65.0% | 11.1% |
| Operating income growth (YoY) | – | −11.0% | 214.3% | 18.7% | 11.0% |
| EPS growth (YoY) | – | −31.8% | 283.3% | 32.6% | 17.7% |
| Gross margin | 21.6% | 17.0% | 26.8% | 24.6% | 23.3% |
| Operating margin | 9.5% | 7.1% | 15.6% | 11.3% | 11.2% |
| Net margin | 7.1% | 4.9% | 13.4% | 10.8% | 10.6% |
| Return on equityBlank when equity is negative | 29.5% | 12.3% | 32.4% | 31.0% | 28.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 30.3% | 11.1% | 17.2% | 16.2% | 16.9% |
| Free cash flow margin | 1.6% | 10.0% | 18.3% | 12.3% | 14.2% |
| Cash conversion (CFO ÷ net income) | 0.29x | 2.07x | 1.42x | 1.26x | 1.39x |
| Receivable days | 16 | 20 | 31 | 18 | 19 |
| Inventory days | 92 | 70 | 94 | 72 | 69 |
| Payable days | 28 | 28 | 49 | 33 | 39 |
| Interest cover | 127x | 61.7x | 88.8x | 510x | 725x |
| Debt ÷ equity | 0.01x | 0.00x | 0.00x | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −62.6 | −143 | −183 | – | – |
| Current ratio | 3.02x | 2.51x | 1.91x | 2.07x | 2.02x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.