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Side-by-side financial comparison of Marwynn Holdings, Inc. (MWYN) and Token Cat Ltd (TC). Click either name above to swap in a different company.
Token Cat Ltd is the larger business by last-quarter revenue ($2.8M vs $2.3M, roughly 1.2× Marwynn Holdings, Inc.). Token Cat Ltd runs the higher net margin — -3.4% vs -116.0%, a 112.7% gap on every dollar of revenue. On growth, Marwynn Holdings, Inc. posted the faster year-over-year revenue change (-13.3% vs -37.9%).
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.
MWYN vs TC — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $2.8M |
| Net Profit | $-2.7M | $-93.0K |
| Gross Margin | 42.4% | 79.0% |
| Operating Margin | -115.8% | -206.9% |
| Net Margin | -116.0% | -3.4% |
| Revenue YoY | -13.3% | -37.9% |
| Net Profit YoY | -11713.9% | 98.3% |
| EPS (diluted) | $-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 | $2.3M | — | ||
| Q2 25 | — | $2.8M | ||
| Q1 25 | $623.7K | — | ||
| Q2 24 | — | $4.4M | ||
| Q2 23 | — | $12.7M | ||
| Q2 22 | — | $13.3M |
| Q3 25 | $-2.7M | — | ||
| Q2 25 | — | $-93.0K | ||
| Q1 25 | $23.4K | — | ||
| Q2 24 | — | $-5.6M | ||
| Q2 23 | — | $-4.2M | ||
| Q2 22 | — | $-8.4M |
| Q3 25 | 42.4% | — | ||
| Q2 25 | — | 79.0% | ||
| Q1 25 | 39.2% | — | ||
| Q2 24 | — | 69.2% | ||
| Q2 23 | — | 63.4% | ||
| Q2 22 | — | 81.0% |
| Q3 25 | -115.8% | — | ||
| Q2 25 | — | -206.9% | ||
| Q1 25 | 13.5% | — | ||
| Q2 24 | — | -146.9% | ||
| Q2 23 | — | -59.9% | ||
| Q2 22 | — | -49.6% |
| Q3 25 | -116.0% | — | ||
| Q2 25 | — | -3.4% | ||
| Q1 25 | 3.8% | — | ||
| Q2 24 | — | -125.9% | ||
| Q2 23 | — | -33.3% | ||
| Q2 22 | — | -62.9% |
| Q3 25 | $-0.16 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $0.00 | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $150.0K |
| Total DebtLower is stronger | — | $1.4M |
| Stockholders' EquityBook value | $2.3M | $4.6M |
| Total Assets | $11.6M | $28.4M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q2 25 | — | $150.0K | ||
| Q1 25 | $480 | — | ||
| Q2 24 | — | $689.0K | ||
| Q2 23 | — | $3.0M | ||
| Q2 22 | — | $4.8M |
| Q3 25 | — | — | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | — | — | ||
| Q2 24 | — | $1.8M | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | $2.3M | — | ||
| Q2 25 | — | $4.6M | ||
| Q1 25 | $2.4M | — | ||
| Q2 24 | — | $-787.0K | ||
| Q2 23 | — | $9.1M | ||
| Q2 22 | — | $21.4M |
| Q3 25 | $11.6M | — | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | $12.6M | — | ||
| Q2 24 | — | $12.5M | ||
| Q2 23 | — | $25.1M | ||
| Q2 22 | — | $40.6M |
| Q3 25 | — | — | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
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 | $-23.7M |
| 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 | — | $-23.7M | ||
| Q1 25 | — | — | ||
| Q2 24 | — | $-1.5M | ||
| Q2 23 | — | $-7.2M | ||
| Q2 22 | — | $-8.3M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | $-1.5M | ||
| Q2 23 | — | — | ||
| Q2 22 | — | $-8.3M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | -34.4% | ||
| Q2 23 | — | — | ||
| Q2 22 | — | -62.2% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q2 23 | — | — | ||
| Q2 22 | — | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MWYN
| Other | $1.3M | 57% |
| Revenue From Recyclable Ewaste Materials Sales | $1.0M | 43% |
TC
Segment breakdown not available.
