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Side-by-side financial comparison of HeartCore Enterprises, Inc. (HTCR) and Marwynn Holdings, Inc. (MWYN). Click either name above to swap in a different company.
HeartCore Enterprises, Inc. is the larger business by last-quarter revenue ($3.0M vs $2.3M, roughly 1.3× Marwynn Holdings, Inc.). HeartCore Enterprises, Inc. runs the higher net margin — 14.5% vs -116.0%, a 130.5% gap on every dollar of revenue. On growth, Marwynn Holdings, Inc. posted the faster year-over-year revenue change (-13.3% vs -81.6%).
HeartCore Enterprises, Inc. is a global SaaS provider specializing in customer experience management, digital transformation solutions, and marketing technology tools. It operates mainly in Japan, Asia-Pacific, and North America, serving small-to-medium businesses and large enterprises with content management systems, marketing automation platforms, and CRM solutions.
Marwynn Holdings, Inc. is a Canada-based investment holding company focused on acquiring, managing, and scaling middle-market businesses primarily across North America. Its core operating segments cover industrial products, consumer goods, and technology-enabled services, targeting sustainable long-term value creation for its stakeholders.
HTCR vs MWYN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.0M | $2.3M |
| Net Profit | $434.1K | $-2.7M |
| Gross Margin | 49.1% | 42.4% |
| Operating Margin | -0.4% | -115.8% |
| Net Margin | 14.5% | -116.0% |
| Revenue YoY | -81.6% | -13.3% |
| Net Profit YoY | -96.1% | -11713.9% |
| EPS (diluted) | $0.02 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $3.0M | $2.3M | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $3.6M | $623.7K | ||
| Q4 24 | $-2.7M | — | ||
| Q3 24 | $16.2M | — | ||
| Q2 24 | $4.1M | — | ||
| Q1 24 | $5.0M | — | ||
| Q4 23 | $3.3M | — |
| Q3 25 | $434.1K | $-2.7M | ||
| Q2 25 | $1.1M | — | ||
| Q1 25 | $-3.1M | $23.4K | ||
| Q4 24 | $-9.3M | — | ||
| Q3 24 | $11.1M | — | ||
| Q2 24 | $-2.0M | — | ||
| Q1 24 | $-1.3M | — | ||
| Q4 23 | $-2.9M | — |
| Q3 25 | 49.1% | 42.4% | ||
| Q2 25 | 46.7% | — | ||
| Q1 25 | 30.7% | 39.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 86.3% | — | ||
| Q2 24 | 19.8% | — | ||
| Q1 24 | 40.3% | — | ||
| Q4 23 | 2.9% | — |
| Q3 25 | -0.4% | -115.8% | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | -34.7% | 13.5% | ||
| Q4 24 | 386.5% | — | ||
| Q3 24 | 76.0% | — | ||
| Q2 24 | -37.1% | — | ||
| Q1 24 | -13.5% | — | ||
| Q4 23 | -95.1% | — |
| Q3 25 | 14.5% | -116.0% | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | -86.1% | 3.8% | ||
| Q4 24 | 346.8% | — | ||
| Q3 24 | 68.1% | — | ||
| Q2 24 | -48.0% | — | ||
| Q1 24 | -26.4% | — | ||
| Q4 23 | -85.7% | — |
| Q3 25 | $0.02 | $-0.16 | ||
| Q2 25 | $0.04 | — | ||
| Q1 25 | $-0.14 | $0.00 | ||
| Q4 24 | $-0.45 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $-0.09 | — | ||
| Q1 24 | $-0.06 | — | ||
| Q4 23 | $-0.16 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.4M | — |
| Total DebtLower is stronger | $510.9K | — |
| Stockholders' EquityBook value | $5.2M | $2.3M |
| Total Assets | $13.3M | $11.6M |
| Debt / EquityLower = less leverage | 0.10× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $4.4M | — | ||
| Q2 25 | $2.5M | — | ||
| Q1 25 | $2.3M | $480 | ||
| Q4 24 | $6.5M | — | ||
| Q3 24 | $8.6M | — | ||
| Q2 24 | $4.2M | — | ||
| Q1 24 | $1.6M | — | ||
| Q4 23 | $1.7M | — |
| Q3 25 | $510.9K | — | ||
| Q2 25 | $1.5M | — | ||
| Q1 25 | $1.5M | — | ||
| Q4 24 | $545.1K | — | ||
| Q3 24 | $1.9M | — | ||
| Q2 24 | $1.9M | — | ||
| Q1 24 | $2.0M | — | ||
| Q4 23 | $2.2M | — |
| Q3 25 | $5.2M | $2.3M | ||
| Q2 25 | $4.8M | — | ||
| Q1 25 | $1.8M | $2.4M | ||
| Q4 24 | $4.7M | — | ||
| Q3 24 | $12.4M | — | ||
| Q2 24 | $1.6M | — | ||
| Q1 24 | $3.9M | — | ||
| Q4 23 | $5.2M | — |
| Q3 25 | $13.3M | $11.6M | ||
| Q2 25 | $13.5M | — | ||
| Q1 25 | $10.2M | $12.6M | ||
| Q4 24 | $14.0M | — | ||
| Q3 24 | $25.5M | — | ||
| Q2 24 | $24.1M | — | ||
| Q1 24 | $22.3M | — | ||
| Q4 23 | $19.6M | — |
| Q3 25 | 0.10× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.84× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 1.20× | — | ||
| Q1 24 | 0.50× | — | ||
| Q4 23 | 0.42× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-95.1K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $-95.1K | ||
| Q2 25 | $-674.1K | — | ||
| Q1 25 | $-2.0M | — | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-1.8M | — | ||
| Q2 24 | $-837.1K | — | ||
| Q1 24 | $-898.6K | — | ||
| Q4 23 | $-1.9M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $-1.9M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | -56.6% | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 0.3% | — |
| Q3 25 | — | — | ||
| Q2 25 | -0.61× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.16× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTCR
| Customised Software Development And Services | $1.7M | 58% |
| Software Related Cost Of Revenues | $1.4M | 46% |
MWYN
| Other | $1.3M | 57% |
| Revenue From Recyclable Ewaste Materials Sales | $1.0M | 43% |
