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Side-by-side financial comparison of HWH International Inc. (HWH) and ATIF Holdings Ltd (ZBAI). Click either name above to swap in a different company.
ATIF Holdings Ltd is the larger business by last-quarter revenue ($250.0K vs $206.8K, roughly 1.2× HWH International Inc.). HWH International Inc. runs the higher net margin — -140.7% vs -635.6%, a 494.9% gap on every dollar of revenue. On growth, ATIF Holdings Ltd posted the faster year-over-year revenue change (25.0% vs -40.2%).
HWH International Inc operates in the global luxury hospitality and lifestyle services industry, providing premium travel membership programs, curated high-end travel experiences, and exclusive access to luxury resorts, fine dining venues, and premium leisure facilities. Its key markets include North America, Asia Pacific, and Europe, serving high-net-worth individuals and corporate clients.
ATIF Holdings Ltd is a professional business advisory service provider that mainly serves small and medium-sized enterprises across the Asia-Pacific region. It offers corporate strategic consulting, fundraising guidance, cross-border expansion support, and industry resource matching services for clients in technology, consumer goods, manufacturing and other key sectors.
HWH vs ZBAI — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $206.8K | $250.0K |
| Net Profit | $-291.0K | $-1.6M |
| Gross Margin | 59.8% | — |
| Operating Margin | -142.7% | -75.6% |
| Net Margin | -140.7% | -635.6% |
| Revenue YoY | -40.2% | 25.0% |
| Net Profit YoY | 46.9% | -96.8% |
| EPS (diluted) | — | $-0.09 |
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 | $206.8K | — | ||
| Q2 25 | $310.4K | $250.0K | ||
| Q1 25 | — | $200.0K | ||
| Q4 24 | $287.1K | — | ||
| Q3 24 | $345.5K | $270.0K | ||
| Q2 24 | $334.9K | $200.0K | ||
| Q1 24 | $286.1K | $25.0K | ||
| Q4 23 | — | $125.0K |
| Q3 25 | $-291.0K | — | ||
| Q2 25 | $83.4K | $-1.6M | ||
| Q1 25 | — | $-1.9M | ||
| Q4 24 | $-476.7K | — | ||
| Q3 24 | $-548.5K | — | ||
| Q2 24 | $-387.9K | $-807.6K | ||
| Q1 24 | $-1.3M | $-407.6K | ||
| Q4 23 | — | $-625.5K |
| Q3 25 | 59.8% | — | ||
| Q2 25 | 48.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 39.6% | — | ||
| Q3 24 | 46.3% | — | ||
| Q2 24 | 49.2% | — | ||
| Q1 24 | 57.1% | — | ||
| Q4 23 | — | — |
| Q3 25 | -142.7% | — | ||
| Q2 25 | 24.5% | -75.6% | ||
| Q1 25 | — | -175.4% | ||
| Q4 24 | -170.2% | — | ||
| Q3 24 | -155.5% | — | ||
| Q2 24 | -120.5% | -260.6% | ||
| Q1 24 | -467.1% | -2190.1% | ||
| Q4 23 | — | -525.4% |
| Q3 25 | -140.7% | — | ||
| Q2 25 | 26.9% | -635.6% | ||
| Q1 25 | — | -951.7% | ||
| Q4 24 | -166.1% | — | ||
| Q3 24 | -158.7% | — | ||
| Q2 24 | -115.8% | -403.8% | ||
| Q1 24 | -467.2% | -1630.6% | ||
| Q4 23 | — | -500.4% |
| Q3 25 | — | — | ||
| Q2 25 | — | $-0.09 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-0.08 | ||
| Q1 24 | — | $-0.04 | ||
| Q4 23 | — | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.9M | $7.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8M | $8.4M |
| Total Assets | $5.2M | $8.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $2.9M | — | ||
| Q2 25 | $3.7M | $7.8M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | $4.4M | — | ||
| Q3 24 | $836.3K | $1.7M | ||
| Q2 24 | $958.9K | $2.3M | ||
| Q1 24 | $1.1M | $139.2K | ||
| Q4 23 | — | $361.2K |
| Q3 25 | $2.8M | — | ||
| Q2 25 | $3.2M | $8.4M | ||
| Q1 25 | — | $7.9M | ||
| Q4 24 | $2.8M | — | ||
| Q3 24 | $-374.9K | $1.8M | ||
| Q2 24 | $-3.6M | $3.1M | ||
| Q1 24 | $-3.1M | $506.3K | ||
| Q4 23 | — | $913.9K |
| Q3 25 | $5.2M | — | ||
| Q2 25 | $10.6M | $8.7M | ||
| Q1 25 | — | $8.6M | ||
| Q4 24 | $6.4M | — | ||
| Q3 24 | $2.9M | $3.0M | ||
| Q2 24 | $3.1M | $3.3M | ||
| Q1 24 | $2.6M | $2.5M | ||
| Q4 23 | — | $3.0M |
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 | $-199.9K | $-939.0K |
| Free Cash FlowOCF − Capex | $-217.9K | — |
| FCF MarginFCF / Revenue | -105.4% | — |
| Capex IntensityCapex / Revenue | 8.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-199.9K | — | ||
| Q2 25 | $26.9K | $-939.0K | ||
| Q1 25 | — | $-395.1K | ||
| Q4 24 | $-415.2K | — | ||
| Q3 24 | $-275.0K | — | ||
| Q2 24 | $-490.8K | $-62.6K | ||
| Q1 24 | $-638.2K | $-212.8K | ||
| Q4 23 | — | $195.4K |
| Q3 25 | $-217.9K | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-415.5K | — | ||
| Q3 24 | $-277.1K | — | ||
| Q2 24 | $-516.8K | — | ||
| Q1 24 | $-640.3K | $-213.5K | ||
| Q4 23 | — | $191.0K |
| Q3 25 | -105.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -144.7% | — | ||
| Q3 24 | -80.2% | — | ||
| Q2 24 | -154.3% | — | ||
| Q1 24 | -223.8% | -854.1% | ||
| Q4 23 | — | 152.8% |
| Q3 25 | 8.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 7.7% | 0.0% | ||
| Q1 24 | 0.7% | 3.0% | ||
| Q4 23 | — | 3.5% |
| Q3 25 | — | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
