Ebang International Holdings Inc. (EBON)

Nasdaq: EBON · Security & Commodity Brokers, Dealers, Exchanges & Services · Asia Square Tower 2, SG · filing with the SEC since 2020

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Grade4.5

◀ Past 4.0● Present 3.4▶ Future 5.7

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Ebang International Holdings Inc.

Nine metrics read from its own filings, by tense

Headline grade

4.5/10

◀ Past4.025% of the headline

● Present3.435% of the headline

▶ Future5.740% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.0/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

6.2/10

Has it survived what it has been through?

No warning events in its filings since 2020.

weight 22% of this tense · 62nd percentile among 13 sector filers · read for itself

From the record

Ebang International Holdings Inc.'s filings since 2020 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

0.6/10

What has it actually done, year after year?

-42.6% a year over 8 filed years; profitable in 1 of 8.

weight 45% of this tense · 6th percentile among 13 sector filers · read for its customers

From the record

Ebang International Holdings Inc.'s 8 filed years say what it did: revenue went from $319 million in fiscal 2018 to $7 million in fiscal 2025, down 42.6% a year; it rose in 3 of 7 years; the deepest fall was 98% from fiscal 2018 to fiscal 2023; net income was positive in 1 of 8 of those years (its annual reports).

What it rests on

revenue growth over the filed span-42.6%bottom 4% of its family
the share of years revenue rosebottom 4% of its family
the share of filed years with a profitbottom 12% of its family
the deepest fall from a revenue peak98.5%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

7.3/10

How has it treated the people who own it?

SI estimate 7.3/10, confidence 35 of 100 (one part).

weight 33% of this tense · 73rd percentile among 13 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the top 27% of 13 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 13 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Ebang International Holdings Inc.'s shareholder treatment is put at 7.3 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 27% of 13 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.4/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

5.2/10

Is it financially healthy right now?

ROE -6%: lost 6¢ per shareholder dollar. Leverage 5%: owes 5¢ per asset dollar.

weight 33% of this tense · 52nd percentile among 13 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Ebang International Holdings Inc. lost about 6 cents for every dollar of shareholders' money, and gross profitability: its products earned about 0 cents per dollar of everything the company owns. Leverage: it owed about 5 cents per dollar of assets, and net share issuance: its share count was unchanged over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 4% of its family
return on equitybottom 27% of its family
gross profit against assetsbottom 13% of its family
the share count against the year beforetop 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

0.6/10

How strong is its position in its industry?

bottom 6% of 13 in its family; net margin -215.6%.

weight 45% of this tense · 6th percentile among 13 sector filers · read for its customers

From the record

Ebang International Holdings Inc.'s standing among 13 graded names in its industry family: revenue of $7 million in fiscal 2025 ranks in the bottom 12% by size; a net margin of -215.6% ranks in the bottom 4%; revenue growth of -41.3% a year over the last 3 filed years ranks in the bottom 4% (its annual reports).

What it rests on

revenue against the family$6.5Mbottom 12% of its family
net margin-215.6%bottom 4% of its family
three-year revenue growth-41.3%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

6.3/10

What are the people in charge doing?

SI estimate 6.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 8 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-10 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 8 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-10 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 8 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Ebang International Holdings Inc.'s leadership is put at 6.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-10 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 8 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.7/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.9/10

How much room does it have to grow?

top 41% of 13 in its family for room to expand.

weight 33% of this tense · 59th percentile among 13 sector filers · read for itself

From the record

Ebang International Holdings Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $201 million against no long-term debt tagged leaves 78.3% of its assets as net cash, top 4% of its family; cash from operations less capital spending is -207.2% of revenue (bottom 4%); a gross margin of 6% (top 37%); research spending of 62.6% of revenue (top 25%) (its annual report).

What it rests on

cash less debt against assets78.3%top 4% of its family
cash from operations less capital spending against revenue-207.2%bottom 4% of its family
gross margin6.0%top 37% of its family
research spending against revenue62.6%top 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.0/10

What could actually drive growth from here?

bottom 40% of 13 in its family for growth drivers.

weight 45% of this tense · 40th percentile among 13 sector filers · read for its customers

From the record

Ebang International Holdings Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -41.3% a year over the last three filed years against -42.6% over all 8, speeding up (top 35% of its family); the newest year grew 11.4% (bottom 27%); research spending grew -7.4% a year (top 50%); capital spending grew 5.7% a year (bottom 19%) (its annual reports). Ebang International Holdings Inc. reported 7 product lines in fiscal 2025: Service Revenue Crossborder Payment and Foreign Exchange Services at $2 million (31%), Service Revenue Rental Services at $1 million (18%), Service Revenue Saa S Data Visualization and Analytic Solution at $1 million (18%), and 4 more; 2 of 7 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+1.3 points a yeartop 35% of its family
the newest year's revenue growth11.4%bottom 27% of its family
three-year growth of research spending-7.4%top 50% of its family
three-year growth of capital spending5.7%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

8.6/10

Did its newest year beat what its own record pointed to?

top 14% of 13 in its family for expectations against reality.

weight 22% of this tense · 86th percentile among 13 sector filers · read for its shareholders

From the record

Ebang International Holdings Inc.'s newest year against its own record: revenue of $7 million in fiscal 2025 came in 161.3% above the $3 million its prior three years' pace pointed to (top 4% of its family); net income of $14 million against a prior three-year average of $34 million (top 35%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 4%) (its annual reports).

What it rests on

revenue against the prior three years' pace161.3%top 4% of its family
net income against the prior three years' average+58%top 35% of its family
net margin against its prior averageup more than 100 pointstop 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton EBON · research, not advice