Heartcore Enterprises, Inc. (HTCR)

Nasdaq: HTCR · Services-Computer Processing & Data Preparation · Tokyo · filing with the SEC since 2021

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Grade4.0

◀ Past 3.2● Present 4.9▶ Future 3.7

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Heartcore Enterprises, Inc.

Nine metrics read from its own filings, by tense

Headline grade

4.0/10

◀ Past3.230% of the headline

● Present4.940% of the headline

▶ Future3.730% of the headline

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

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.2/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed

1.9/10

Has it survived what it has been through?

7 warning events since 2021; the latest 2025-11-14.

weight 33% of this tense · 19th percentile among 77 sector filers · read for itself

From the record

Heartcore Enterprises, Inc.'s filings since 2021 show 7 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2025-05-27); a late-report notice (Form NT 10-K or NT 10-Q, 3 times, the latest 2025-11-14) (its current reports).

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

Track record

as filed

2.7/10

What has it actually done, year after year?

-0.1% a year over 6 filed years; profitable in 2 of 6.

weight 45% of this tense · 27th percentile among 64 sector filers · read for its customers

From the record

Heartcore Enterprises, Inc.'s 6 filed years say what it did: revenue went from $9 million in fiscal 2020 to $9 million in fiscal 2025, down 0.1% a year; it rose in 3 of 5 years; the deepest fall was 60% from fiscal 2024 to fiscal 2025; net income was positive in 2 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span-0.1%bottom 18% of its family
the share of years revenue rosebottom 27% of its family
the share of filed years with a profitbottom 45% of its family
the deepest fall from a revenue peak60.5%bottom 20% of its family

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

Shareholder treatment

as filed

5.9/10

How has it treated the people who own it?

Share count grew 12.4% a year. 100% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 59th percentile among 43 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Heartcore Enterprises, Inc.'s diluted share count grew about 12.4% a year, and dividends and buybacks returned about 100% of its net income over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 22% of its family
cash returned against operating cash flowtop 4% of its family

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

● Present

What are they doing right now?

4.9/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

5.2/10

Is it financially healthy right now?

ROE 80%: 80¢ of profit per shareholder dollar. Leverage 44%: owes 44¢ per asset dollar.

weight 33% of this tense · 52nd percentile among 69 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Heartcore Enterprises, Inc. earned about 80 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 24 cents per dollar of everything the company owns. Leverage: it owed about 44 cents per dollar of assets, and net share issuance: its share count grew 21.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 46% of its family
return on equitytop 2% of its family
gross profit against assetsbottom 32% of its family
the share count against the year beforebottom 24% of its family

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

Industry position

as filed

4.7/10

How strong is its position in its industry?

bottom 47% of 68 in its family; net margin 64.6%.

weight 45% of this tense · 47th percentile among 68 sector filers · read for its customers

From the record

Heartcore Enterprises, Inc.'s standing among 68 graded names in its industry family: revenue of $9 million in fiscal 2025 ranks in the bottom 16% by size; a net margin of 64.6% ranks in the top 7%; revenue growth of 0.6% a year over the last 3 filed years ranks in the bottom 31% (its annual reports).

What it rests on

revenue against the family$9.0Mbottom 16% of its family
net margin64.6%top 7% of its family
three-year revenue growth0.6%bottom 31% of its family

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

Leadership

SI estimate

4.9/10

What are the people in charge doing?

SI estimate 4.9/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 47 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 47 members with one.
What the record cannot read: No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 47 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: Heartcore Enterprises, Inc.'s leadership is put at 4.9 of 10 with a confidence of 20 of 100, because no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 47 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?

3.7/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

3.0/10

How much room does it have to grow?

bottom 30% of 68 in its family for room to expand.

weight 22% of this tense · 30th percentile among 68 sector filers · read for itself

From the record

Heartcore Enterprises, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $2 million against debt of $499 thousand leaves 11.4% of its assets as net cash, bottom 43% of its family; cash from operations less capital spending is -34.8% of revenue (bottom 29%); a gross margin of 35.1% (bottom 19%) (its annual report).

What it rests on

cash less debt against assets11.4%bottom 43% of its family
cash from operations less capital spending against revenue-34.8%bottom 29% of its family
gross margin35.1%bottom 19% of its family

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

Growth drivers

as filed

2.7/10

What could actually drive growth from here?

bottom 27% of 64 in its family for growth drivers.

weight 45% of this tense · 27th percentile among 64 sector filers · read for its customers

From the record

Heartcore Enterprises, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 0.6% a year over the last three filed years against -0.1% over all 6, speeding up (top 19% of its family); the newest year grew -60.5% (bottom 2%); research spending grew -29.4% a year (bottom 8%); capital spending grew -40.9% a year (bottom 15%) (its annual reports). Heartcore Enterprises, Inc. reported 3 product lines in fiscal 2025: Customised Software Development and Services at $7 million (77%), Consulting Services at $2 million (21%), Software Development Services at $197 thousand (2%); 1 of 3 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+0.7 points a yeartop 19% of its family
the newest year's revenue growth-60.5%bottom 2% of its family
three-year growth of research spending-29.4%bottom 8% of its family
three-year growth of capital spending-40.9%bottom 15% 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

5.5/10

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

top 45% of 54 in its family for expectations against reality.

weight 33% of this tense · 55th percentile among 54 sector filers · read for its shareholders

From the record

Heartcore Enterprises, Inc.'s newest year against its own record: revenue of $9 million in fiscal 2025 came in 75.3% below the $36 million its prior three years' pace pointed to (bottom 1% of its family); net income of $6 million against a prior three-year average of $4 million (top 24%); a net margin of 64.6% against -33.8% before (top 12%) (its annual reports).

What it rests on

revenue against the prior three years' pace-75.3%bottom 1% of its family
net income against the prior three years' average+241%top 24% of its family
net margin against its prior average+98.4 pointstop 12% 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 HTCR · research, not advice