olivLaw · US equity research
Eastern International Ltd. ELOG
Arrangement of Transportation of Freight & Cargo · SIC 4731 · Vertical: Arrangement of Transportation of Freight & Cargo (SIC 4731)
Eastern International Ltd. is a logistics services provider in China, active in project logistics, general transport and cross-border transport, with a newer construction component for renewable energy infrastructure. In fiscal 2026 revenue grew 14.0%, but gross margin fell to 9.3% and the company reported a net loss, so the shift toward higher-value projects is the main test for the coming period.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Eastern International Ltd. (ELOG) stock was 0.72 USD (−4.74% on the day), with market capitalisation 9.2 m USD, beta -0.01, 52-week range 0.48–2.57 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 41.9
- weak (30–45)
- Bollinger (20, 2)
- 0.53 – 1.45
- in the lower half of the band · %B 0.21 · band width 93.5%
- SMA 50 / 200
- 0.75 / 0.92
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / 0.05
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +37.0% | −1.1% | +38.1 pp | — |
| 3 months | −3.2% | −0.5% | −2.8 pp | — |
| 6 months | −21.0% | +4.4% | −25.4 pp | — |
| Year to date | −37.5% | +12.3% | −49.8 pp | — |
| 1 year | −71.2% | +13.5% | −84.8 pp | −40.0% |
| 3 years | unavailable | +76.4% | unavailable | −70.0% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 282.6 k | 335.6 k | 253.8 k |
| Revenue YoY | unavailable | +18.8% | −24.4% |
| Net income | 1.1 m | 1.8 m | -1.2 m |
| Net income YoY | unavailable | +64.3% | −164.7% |
| Diluted EPS | 0.10 | 0.16 | -0.10 |
| Diluted EPS YoY | unavailable | +60.0% | −162.5% |
| net % | 383.5% | 530.4% | -454.0% |
| Free cash flow | -637.2 k | -2.6 m | -3.5 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- unavailable USD
- Financial debt
- 5.6 m USD
- Net debt
- unavailable USD
- Equity
- 15.2 m USD
- Total assets
- 32.3 m USD
- Debt / equity
- 0.37x
- Current ratio
- 1.71x
- ROE
- -8.6%
- ROA
- -4.0%
- FCF margin
- -1,361.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 282.6 k | 335.6 k | 253.8 k | SEC (XBRL)· 30 Jul 2026verified |
| Cost of revenue | 35.4 m | 34.0 m | 41.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Gross profit | 5.0 m | 6.0 m | 4.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Operating income | 1.4 m | 2.3 m | -1.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Depreciation & amortisation | 56.5 k | 40.3 k | 30.1 k | SEC (XBRL)· 30 Jul 2026verified |
| EBITDA | 1.5 m ≈ | 2.3 m ≈ | -1.0 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Interest expense | 97.6 k | 143.6 k | 287.4 k | SEC (XBRL)· 30 Jul 2026verified |
| Pre-tax income | 1.5 m | 2.4 m | -1.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Income tax | 451.8 k | 591.1 k | 139.4 k | SEC (XBRL)· 30 Jul 2026verified |
| Net income | 1.1 m | 1.8 m | -1.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Diluted EPS | 0.10 | 0.16 | -0.10 | SEC (XBRL)· 30 Jul 2026verified |
| Weighted average diluted shares | 11.0 m | 11.4 m | 11.4 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Current assets | — | 19.7 m | 27.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Property, plant & equipment, net | — | 461.2 k | 1.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Total assets | — | 24.8 m | 32.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Accounts payable | — | 4.9 m | 4.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Short-term debt | — | 3.8 m | 5.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Long-term debt | — | — | 524.0 k | SEC (XBRL)· 30 Jul 2026verified |
| Current liabilities | — | 12.1 m | 15.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Total liabilities | — | 13.3 m | 17.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Equity | 9.8 m † | 11.5 m † | 15.2 m † | SEC (XBRL)· 30 Jul 2026verified |
| Shares outstanding at year end | — | — | 12.8 m | SEC (XBRL)· 30 Jul 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -629.8 k | -2.2 m | -2.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Capex | 7.4 k | 397.4 k | 878.9 k | SEC (XBRL)· 30 Jul 2026verified |
| Free cash flow | -637.2 k ≈ | -2.6 m ≈ | -3.5 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Investing cash flow | 44.2 k | -337.8 k | -878.9 k | SEC (XBRL)· 30 Jul 2026verified |
| Financing cash flow | 1.8 m | 1.2 m | 5.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Dividends paid | 161.5 k | — | — | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 25.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 9.2 m USD
Key indicators
Coverage and freshness
Score by group
25% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -454.0% | 0 (vs peers) | 25% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -3.7x | 0 (on a fixed band) | 25% |
| Current ratio · Balance sheet | 1.7x | 76 (on a fixed band) | 17% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -37.5% | 0 (on a fixed band) | 33% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet30/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial0/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Eastern International Ltd. (ELOG). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 253.8 k USD in 2026; YoY growth -24.4%; net margin -454.0%; ROE -8.6%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 1.7x
What contradicts it
- Net margin: -454.0%
- Interest coverage: -3.7x
- FCF yield: -37.5%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Arrangement of Transportation of Freight & Cargo (SIC 4731) · same industry (4-digit SIC) · compared with 16 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EXPDExpeditors International Of Washington, Inc. | 25.5 bn | 25.1 | 45.0% | 7.9% | +4.4% | +35% / +64% |
| CHRWC.h. Robinson Worldwide, Inc. | 15.5 bn | 24.0 | 38.9% | 3.7% | −8.4% | −16% / +63% |
| BCOBrink’s Co | 4.7 bn | 29.6 | 56.0% | 2.9% | +5.0% | +1% / +43% |
| FWRDForward Air Corporation | 644.5 m | — | -1,574.1% | -11.4% | +0.8% | −17% / −70% |
| RLGTRadiant Logistics, Inc. | 450.2 m | 24.6 | 8.0% | 2.0% | +3.5% | +54% / +60% |
| NCEWNew Century Logistics (bvi) Limited | 422.8 m | — | -185.6% | -24.2% | −15.5% | +311% / unavailable |
| PSIGPS International Group Ltd. | 80.1 m | — | -440.7% | -28.6% | −39.0% | +28% / unavailable |
| CRGOFreightos Ltd | 32.8 m | — | -35.8% | -59.5% | +23.9% | −79% / −79% |
| VNTGVantage Corp | 14.3 m | — | -31.1% | -7.4% | −4.4% | −50% / unavailable |
| QNMEQuanome Technologies, Inc. | 13.4 m | — | -192.5% | -162.1% | +111.8% | −55% / unavailable |
| SLGBSmart Logistics Global Limited | 9.5 m | — | -13.4% | -2.9% | unavailable | −87% / unavailable |
| ELOGEastern International Ltd. | 9.2 m | — | -8.6% | -454.0% | −24.4% | −71% / unavailable |
| JYDJayud Global Logistics Limited | 9.0 m | — | -36.8% | -5.9% | +8.7% | −65% / −99% |
| SGLYSingularity Future Technology Ltd. | 2.6 m | — | -55.6% | -347.5% | −6.6% | −95% / −99% |
| FRGTFreight Technologies, Inc. | 1.6 m | — | -338.3% | -60.5% | −4.9% | −95% / −100% |
| GVHGlobavend Holdings Limited | 1.4 m | 0.6 | 9.0% | 2.9% | +42.5% | −76% / −100% |
| HUBGHub Group, Inc. | — | 0.1 | 6.3% | 2.8% | −6.1% | −30% / −29% |
1- and 3-year price returns: for ELOG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 6-K (11 Sept 2026), 6-K (28 Aug 2026), 6-K (20 Aug 2026), 6-K (12 Aug 2026).
In brief
Eastern International Ltd. is a logistics services provider in China, active in project logistics, general transport and cross-border transport, with a newer construction component for renewable energy infrastructure. In fiscal 2026 revenue grew 14.0% 1, but gross margin fell to 9.3% 1 and the company reported a net loss, so the shift toward higher-value projects is the main test for the coming period.
SWOT
Strengths
- The company holds technical qualifications and permits for transporting oversized cargo, which form an entry barrier 1.
- Long-term relationships with leading wind, solar and appliance companies provide a stable client base 1.
- An internally developed ERP system and a branch network covering most major Chinese cities 1.
Weaknesses
Opportunities
- If wind and photovoltaic projects expand, the construction business could become a growth driver 1.
- Logistics opportunities linked to rooftop solar and energy storage could complement the portfolio 1.
- Expanding cross-border transport, should services again include international routes, could open new markets 1.
Risks
- Margins under pressurehigh
Gross margin declined in fiscal 2026, and transport costs grew faster than revenue 1. If this trend persists, profitability could remain negative.
- Project delaysmedium
The Hebei photovoltaic project was delayed by the client, showing schedule risk in the construction business 1.
- Control through multi-vote sharesmedium
Series A preferred shares give the founder substantial influence over mergers and the election of directors 1.
- Dependence on the China marketmedium
All operations are in China, and local regulation and economic conditions could influence results 1.
- Limited capital after listinglow
The net proceeds of the IPO were modest, which could limit the ability to fund rapid expansion 1.
Investment thesis
What would need to be true (bull case)
- If project logistics continues to grow and renewable energy contracts multiply, the company could recover margins as contract values rise 1.
- Entry into energy infrastructure construction could open a steadier and more valuable revenue stream than general logistics 1.
- Relationships with leading energy and appliance companies provide a client base that could support the business over the long term 1.
What would break the thesis
- If margins keep falling, revenue growth may not translate into profit, and the company could remain loss-making 1.
- Weak domestic consumption in China could reduce general logistics volumes more than expected 1.
- The structure with enhanced-voting preferred shares could limit minority shareholders' influence over strategic decisions 1.
What to watch
- Trend in gross margin and the net lossQ1 2027
- Completion of the Hongze wind project and related collections2027
- Number of new construction contracts won through biddingnext 10-K
- Recovery of general logistics revenue2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 6-K (11 Sept 2026), 6-K (28 Aug 2026), 6-K (20 Aug 2026), 6-K (12 Aug 2026).
The business
The company is a Cayman Islands holding company that conducts its business through operating subsidiaries in China, without a VIE structure 1. Through Suzhou TC-Link it provides project logistics, general logistics and cross-border logistics, and since October 2025 it has extended into new energy infrastructure construction through the acquisition of Guizhou Tianrun 1. Its shares have been listed on Nasdaq under the symbol ELOG since August 2025 1.
Its main clients are multinational companies, large domestic companies and listed companies, including wind and solar power producers, appliance manufacturers and logistics operators 1. The company operates five warehouses and logistics centers and has cooperative relationships with third-party owners for over 2,000 trucks, which lets it adjust capacity to demand 1.
The construction business is still early: in early 2026 Guizhou Tianrun won bids for two work packages of a wind farm with a total value of about 13.02 million USD, with the project scheduled to finish by the end of December 2026 1. The company states it plans to develop this area further 1.
Segments
Project logistics
This is the segment with the strongest growth: revenue rose 52.2% to 32.1 million USD in fiscal 2026, and completed contracts rose from 3,533 to 5,071 1. The company links this growth to a strategic focus on specialized, higher-value projects 1.
General logistics
Revenue from general logistics fell 37.8% to 8.8 million USD, which the company attributes to softer consumer demand in China and a reallocation of resources toward higher-value projects 1. This segment illustrates the risk of concentration in the domestic consumer market.
Warehouse subleasing
Warehouse subleasing revenue remained relatively stable, falling 1.8% to 4.7 million USD in fiscal 2026 1. It is a more predictable segment, but contributes less to growth.
Market context
The company operates in China's project logistics market, where its reputation was built over nearly 20 years of activity 1. Demand is supported by wind, photovoltaic and storage projects, while general logistics revenue reflects pressure from domestic consumption 1. Cross-border expansion toward Southeast Asia, which began in 2019, remains limited, as the company currently provides transport only within mainland China 1.
China's renewable energy market is the target for the expansion into construction, and the company mentions partnerships with state energy operators and private developers 1. With margins under pressure, expansion into construction could change the company's profitability profile, but this depends on project execution 1.
Trends
- Demand for renewable energy projectstailwind
Investment in wind and photovoltaic power is the main source of growth in project logistics and motivates the entry into construction 1. If this investment continues, the company could benefit from a larger flow of contracts.
- Weak domestic consumptionheadwind
Consumer demand in China has declined, which led to a contraction in general logistics 1. This trend affects the volumes transported for appliance manufacturers.
- Pressure on marginsheadwind
Transport costs have grown faster than revenue, and gross margin fell considerably in fiscal 2026 1. The company also noted higher general and administrative expenses 1.
- Diversification into constructionmixed
The Guizhou Tianrun acquisition and the wind farm bid wins point to diversification into higher-value services 1. The results of this diversification remain uncertain, as the activity is new 1.
Competitive position
The company competes in project logistics and general transport with other providers in China, and its advantage comes from the technical qualifications and permits needed to move oversized cargo, obtained through a strict assessment process 1. The entry barrier for new competitors is high, but the market remains fragmented 1.
Long-term relationships with leading wind and solar companies give it access to projects, but competition in bidding can limit margins 1. The source does not give a numerical market position, so a comparison with US-listed competitors cannot be made from these sources 1.
- Local Chinese project logistics providers
Local project logistics firms compete for the same wind and photovoltaic contracts; they are not named in the source.
- General transport and consumer logistics operators
These firms compete for appliance manufacturing and consumer goods clients, the segment that declined at the company.
- Chinese energy infrastructure contractors
As an entrant into construction, the company competes with local contractors that already hold construction qualifications for wind and photovoltaic projects.
- Southeast Asia cross-border transport providers
These operate on routes between China and Southeast Asia, where the company was present historically but not currently.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)11 Sept 2026
- Current report (foreign issuer)28 Aug 2026
- Current report (foreign issuer)20 Aug 2026
- Current report (foreign issuer)12 Aug 2026
- Annual report (foreign issuer)30 Jul 2026
- Current report (foreign issuer)23 Jun 2026
- Current report (foreign issuer)22 May 2026
- Current report (foreign issuer)20 May 2026
- Current report (foreign issuer)03 Apr 2026
- Current report (foreign issuer)26 Jan 2026
Sources
- [1] Form 20-F, fiscal year ended 2026-03-31 · SEC / Eastern International Ltd. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.