ZCMD revenueFY2025$11.37M
- FY YoY
- -28.3%
- 5Y CAGR
- -8.8%
ZCMD revenue was $11.37M for fiscal 2025 (ended Dec 31, 2025), down 28.3% from fiscal 2024. Compound annual growth was -8.8% over 5 years. It rose in 4 of the last 8 fiscal years.
Zhongchao Inc. (ZCMD) financials
For fiscal 2025 (ended Dec 31, 2025), Zhongchao Inc. reported $11.37M of revenue and -$6.31M of net income.
- Revenue, FY2025
- $11.37M
- Revenue growth, YoY
- -28.3%
- Net income, FY2025
- -$6.31M
- Net margin
- -55.5%
- EPS, diluted, FY2025
- -$1.85
- Cash
- $8.10M
- P/S
- 0.38
- Market cap
- $4.3M
FY2017FY2025
FY2017FY2025
FY2017FY2019
ZCMD revenue and earnings growth
ZCMD net incomeFY2025-$6.31M
ZCMD net income was -$6.31M for fiscal 2025 (ended Dec 31, 2025), compared with -$643.2K in fiscal 2024.
ZCMD EPSFY2025-$1.85
ZCMD diluted EPS was -$1.85 for fiscal 2025 (ended Dec 31, 2025).
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.37M | $15.86M | $19.43M | $14.15M | $16.30M | $17.99M | $14.88M | $12.87M | $9.82M |
| Cost of revenue | $6.25M | $6.95M | $10.92M | $7.79M | $6.86M | $6.12M | $4.66M | $4.46M | $3.97M |
| Gross profit | $5.12M | $8.91M | $8.51M | $6.36M | $9.44M | $11.87M | $10.23M | $8.41M | $5.85M |
| Research and development | $8.1K | $252.5K | $514.4K | $411.5K | $758.9K | $816.6K | $864.3K | $1.45M | $943.3K |
| Selling, general and admin | $9.81M | $4.99M | $6.70M | $6.80M | $5.86M | $3.12M | $2.52M | $1.43M | $1.14M |
| Operating income | -$6.19M | -$341.3K | -$13.28M | -$2.95M | -$320.7K | $4.49M | $3.64M | - | - |
| Pre-tax income | -$5.77M | $61.8K | -$11.98M | -$2.55M | -$110.8K | $4.94M | $4.39M | $3.50M | $1.34M |
| Income tax | $46.2K | $335.2K | -$669.8K | $272.3K | -$349.4K | $484.8K | $387.1K | $502.1K | -$154.0K |
| Net income | -$6.31M | -$643.2K | -$11.34M | -$2.94M | $238.7K | $4.46M | $4.05M | $3.02M | $1.53M |
| EPS, basic | -$1.85 | -$0.99 | -$34.83 | -$9.04 | $0.77 | $14.64 | $14.96 | $11.60 | $6.24 |
| EPS, diluted | -$1.85 | -$0.99 | -$34.83 | -$9.04 | $0.77 | $14.64 | $14.96 | $11.60 | $6.24 |
| Diluted shares | 3.4M | 650,678 | 325,419 | 324,972 | 311,731.375 | 305,320.463 | 270,001.688 | 259,553.063 | 244,526.513 |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.10M | $7.84M | $7.55M | $11.52M | $13.91M | $15.07M | $7.83M | $7.92M | $2.98M |
| Short-term investments | $5.82M | $5.24M | $5.90M | $518.4K | $296.2K | $2.03M | - | $1.16M | - |
| Receivables | $2.78M | $4.68M | $2.55M | $6.77M | $9.22M | $10.32M | $5.08M | $1.99M | - |
| Inventory | - | $586.2K | $592.4K | $189.1K | - | - | - | - | - |
| Current assets | $16.96M | $18.71M | $18.71M | $22.70M | $27.25M | $29.60M | $14.51M | $12.56M | - |
| Goodwill | - | - | - | $5.77M | - | - | - | - | - |
| Total assets | $24.15M | $25.88M | $24.42M | $38.61M | $36.27M | $34.82M | $17.74M | $14.05M | - |
| Current liabilities | $1.53M | $1.53M | $2.68M | $4.17M | $3.59M | $2.98M | $2.36M | $2.33M | - |
| Short-term debt | - | - | - | - | - | - | - | $727.2K | - |
| Long-term debt | - | - | - | $1.84M | $2.66M | - | - | - | - |
| Total debt | - | - | - | $1.84M | $2.66M | - | - | - | - |
| Total liabilities | $1.55M | $1.73M | $3.38M | $5.60M | $3.70M | $2.98M | $2.40M | $2.66M | - |
| Shareholders' equity | $18.63M | $20.84M | $21.04M | $33.02M | $32.57M | $31.83M | $15.34M | $11.39M | $5.20M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $845.4K | -$1.47M | $54.2K | -$661.7K | $2.86M | -$1.04M | $1.41M | $1.31M | -$537.7K |
| Capital expenditures | - | - | - | - | - | - | $1.31M | $668.1K | $32.2K |
| Free cash flow | - | - | - | - | - | - | $95.1K | $644.6K | -$569.9K |
| Investing cash flow | -$826.6K | -$1.81M | -$3.75M | -$3.35M | -$4.02M | -$4.09M | -$203.1K | -$504.0K | -$1.84M |
| Financing cash flow | - | $3.84M | - | $1.85M | - | $11.50M | -$1.19M | $4.34M | $2.73M |
| Stock-based compensation | $3.71M | $109.7K | $135.5K | $160.8K | $211.8K | - | - | - | - |
| Depreciation and amortization | $290.2K | $231.1K | $518.5K | $383.3K | $341.6K | - | - | - | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -28.3% | -18.4% | 37.3% | -13.2% | -9.4% | 20.9% | 15.7% | 31.1% | - |
| Net income growth, YoY | - | - | - | - | -94.6% | 10.2% | 34.0% | 97.4% | - |
| EPS growth, YoY | - | - | - | - | -94.8% | -2.1% | 29.0% | 85.9% | - |
| Gross margin | 45.0% | 56.2% | 43.8% | 44.9% | 57.9% | 66.0% | 68.7% | 65.4% | 59.6% |
| Operating margin | -54.4% | -2.2% | -68.4% | -20.9% | -2.0% | 25.0% | 24.5% | - | - |
| Net margin | -55.5% | -4.1% | -58.3% | -20.8% | 1.5% | 24.8% | 27.2% | 23.5% | 15.6% |
| Free cash flow margin | - | - | - | - | - | - | 0.6% | 5.0% | -5.8% |
| Return on equity | -33.9% | -3.1% | -53.9% | -8.9% | 0.7% | 14.0% | 26.4% | 26.5% | 29.4% |
| Return on assets | -26.1% | -2.5% | -46.4% | -7.6% | 0.7% | 12.8% | 22.8% | 21.5% | - |
| Current ratio | 11.11 | 12.22 | 6.99 | 5.45 | 7.59 | 9.92 | 6.15 | 5.38 | - |
| Debt to equity | - | - | - | 0.06 | 0.08 | - | - | - | - |
Source: XBRL data Zhongchao Inc. files with the SEC, latest filing dated Apr 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-10, first reported Apr 30, 2024; 1-for-8, first reported Apr 3, 2026.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
ZCMD peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| ZCMD | $11.37M | -28.3% | -$6.31M | -55.5% | $4.3M |
| SE | $22.94B | +36.4% | $1.58B | 6.9% | $46.38B |
| IT | $6.44B | -0.2% | $954.41M | 14.8% | $11.99B |
| RTO | $6.91B | +4.4% | $470.00M | 6.8% | $11.91B |
| SCI | $3.31B | +3.4% | $561.30M | 17.0% | $10.02B |
| EDU | $5.66B | +15.5% | $475.17M | 8.4% | $8.53B |
| HRB | $3.95B | +4.9% | $733.60M | 18.6% | $6.46B |
| TAL | $3.01B | +33.7% | $530.75M | 17.6% | $5.63B |
| GHC | $5.12B | +4.3% | $496.96M | 9.7% | $5.05B |
ZCMD FAQ
8 questionsWhat is ZCMD revenue?
Zhongchao Inc. (ZCMD) reported $11.37M of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 28.3% from the year before.Is ZCMD profitable?
No. Zhongchao Inc. reported a net loss of $6.31M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does ZCMD have?
Zhongchao Inc. reported $8.10M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is ZCMD revenue growing?
Zhongchao Inc.'s revenue changed -28.3% in fiscal 2025, to $11.37M. Its compound annual growth rate was -8.8% over 5 years.What is ZCMD gross margin?
Zhongchao Inc.'s gross profit was $5.12M on $11.37M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 45.0%.What is ZCMD earnings per share?
Diluted earnings per share were -$1.85 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did ZCMD last report financial results?
The latest statements here come from Zhongchao Inc.'s 20-F filed on Apr 3, 2026, covering the period ended Dec 31, 2025.Where does this ZCMD financial data come from?
Quantisnow builds these statements from the structured XBRL data Zhongchao Inc. files with the SEC. It is provided for information only and is not investment advice.