olivLaw · US equity research
One and one Green Technologies. INC YDDL
Wholesale-Misc Durable Goods · SIC 5090 · Vertical: Wholesale — durable goods (SIC 509x)
One and one Green Technologies is a recycler of waste and scrap metals in the Philippines that operates through contractually controlled variable interest entities. It reported fiscal 2025 revenue of 65.8 million USD, up 23.12%, and the company is in its first period as a listed stock after its October 2025 IPO.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, One and one Green Technologies. INC (YDDL) stock was 1.03 USD (−0.96% on the day), with P/E 4.6 on diluted EPS of 0.23 USD over the last 12 months, beta -0.62, 52-week range 0.96–15.34 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)
- 31.3
- weak (30–45)
- Bollinger (20, 2)
- 0.97 – 1.37
- in the lower half of the band · %B 0.15 · band width 33.6%
- SMA 50 / 200
- 1.41 / 4.18
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.11 / -0.11
- 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 | −27.0% | −1.1% | −25.9 pp | — |
| 3 months | −42.5% | −0.5% | −42.0 pp | — |
| 6 months | −77.9% | +4.4% | −82.3 pp | — |
| Year to date | −80.2% | +12.3% | −92.5 pp | — |
| 1 year | −74.6% | +13.5% | −88.1 pp | −34.5% |
| 3 years | unavailable | +76.4% | unavailable | +1.0% |
| 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.
Today's P/E sits at the 0 percentile of its own 1-quarter history (min 23.0, median 23.0, max 23.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 41.3 m | 53.5 m | 65.8 m |
| Revenue YoY | unavailable | +29.5% | +23.1% |
| Net income | 5.6 m | 6.5 m | 11.8 m |
| Net income YoY | unavailable | +16.3% | +82.4% |
| Diluted EPS | 0.11 | 0.12 | 0.23 |
| Diluted EPS YoY | unavailable | +16.3% | +80.9% |
| net % | 13.5% | 12.1% | 17.9% |
| Free cash flow | 225.0 k | 2.0 m | -9.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 957.3 k USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 41.8 m USD
- Total assets
- 56.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 3.57x
- ROE
- 37.8%
- ROA
- 25.5%
- FCF margin
- -14.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 41.3 m | 53.5 m | 65.8 m | SEC (XBRL)· 27 Apr 2026verified |
| Cost of revenue | 32.4 m | 42.9 m | 50.1 m | SEC (XBRL)· 27 Apr 2026verified |
| Gross profit | 8.9 m | 10.6 m | 15.8 m | SEC (XBRL)· 27 Apr 2026verified |
| Operating income | 7.3 m | 8.1 m | 11.9 m | SEC (XBRL)· 27 Apr 2026verified |
| Interest expense | — | 501 | 6.5 k | SEC (XBRL)· 27 Apr 2026verified |
| Pre-tax income | 7.3 m | 8.4 m | 12.1 m | SEC (XBRL)· 27 Apr 2026verified |
| Income tax | 1.8 m | 1.9 m | 334.4 k | SEC (XBRL)· 27 Apr 2026verified |
| Net income | 5.6 m | 6.5 m | 11.8 m | SEC (XBRL)· 27 Apr 2026verified |
| Diluted EPS | 0.11 | 0.12 | 0.23 | SEC (XBRL)· 27 Apr 2026verified |
| Weighted average diluted shares | 52.0 m | 52.0 m | 52.4 m | SEC (XBRL)· 27 Apr 2026verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 136.5 k | 1.8 m | 957.3 k | SEC (XBRL)· 27 Apr 2026verified |
| Receivables | — | 17.4 m | 26.6 m | SEC (XBRL)· 27 Apr 2026verified |
| Inventories | — | 5.2 m | 7.2 m | SEC (XBRL)· 27 Apr 2026verified |
| Current assets | — | 24.8 m | 39.0 m | SEC (XBRL)· 27 Apr 2026verified |
| Property, plant & equipment, net | — | 11.3 m | 10.3 m | SEC (XBRL)· 27 Apr 2026verified |
| Total assets | — | 36.5 m | 56.0 m | SEC (XBRL)· 27 Apr 2026verified |
| Accounts payable | — | 5.8 m | 1.7 m | SEC (XBRL)· 27 Apr 2026verified |
| Current liabilities | — | 15.7 m | 10.9 m | SEC (XBRL)· 27 Apr 2026verified |
| Total liabilities | — | 15.8 m | 14.2 m | SEC (XBRL)· 27 Apr 2026verified |
| Equity | 15.1 m † | 20.7 m † | 41.8 m † | SEC (XBRL)· 27 Apr 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 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 4.1 m | 2.0 m | -9.7 m | SEC (XBRL)· 27 Apr 2026verified |
| Capex | 3.8 m | 11.5 k | 29.6 k | SEC (XBRL)· 27 Apr 2026verified |
| Free cash flow | 225.0 k ≈ | 2.0 m ≈ | -9.8 m ≈ | SEC (XBRL)· 27 Apr 2026derived |
| Investing cash flow | -3.8 m | -11.5 k | -2.0 m | SEC (XBRL)· 27 Apr 2026verified |
| Financing cash flow | -17.7 k | -257.5 k | 10.1 m | SEC (XBRL)· 27 Apr 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: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.09 – 4.54 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
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/E3.09 – 4.54 (Mid 3.81)5 companies used · median multiple 16.9x · quartiles 13.7x – 20.1xAENT, CNM, GOLD, POOL, SORA
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
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: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 17.9% | 71 (vs peers) | 19% |
| FCF conversion · Quality | -82.6% | 0 (on a fixed band) | 19% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1,837.4x | 100 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 3.6x | 100 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | 4.6x | 100 (vs peers) | 31% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| 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 sheet100/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality36/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial100/100 · 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
One and one Green Technologies. INC (YDDL). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 65.8 m USD in 2025; YoY growth 23.1%; net margin 17.9%; ROE 37.8%.
The estimated value range is 3.09–4.54 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 3.81 USD, the price of 1.03 USD leaves a potential of 269.5% (value / price − 1) and a margin of safety of 72.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 17.9%
- Interest coverage: 1,837.4x
- Current ratio: 3.6x
- P/E (TTM): 4.6x
- The price is below the estimated value range
What contradicts it
- FCF conversion: -82.6%
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Wholesale — durable goods (SIC 509x) · same industry group (3-digit SIC) · compared with 7 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 | |
|---|---|---|---|---|---|---|
| POOLPool Corporation | 7.8 bn | 20.2 | 30.4% | 7.3% | −0.4% | −10% / −37% |
| GOLDGold.com, Inc. | 1.2 bn | 13.7 | 10.8% | 0.3% | +132.4% | +44% / +45% |
| AENTAlliance Entertainment Holding Corporation | 223.6 m | 16.9 | 11.9% | 483.6% | 0.0% | −34% / +362% |
| SORAAsiaStrategy | 60.4 m | 4.8 | 106.1% | 111.9% | −37.7% | −37% / unavailable |
| BGMSBio Green Med Solution, Inc. | 5.9 m | — | -40.8% | -204.0% | −100.0% | −41% / −100% |
| GNLNGreenlane Holdings, Inc. | 871.7 k | — | -534.0% | -4,630.6% | −67.2% | −95% / −100% |
| CNMCore & Main, Inc. | — | 20.1 | 23.4% | 6.0% | +2.8% | +1% / +39% |
| YDDLOne and one Green Technologies. INC | — | 4.6 | 37.8% | 17.9% | +23.1% | −75% / unavailable |
1- and 3-year price returns: for YDDL 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
Scenarios are not available. input data missing
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 27 Apr 2026; since then the company filed 6-K (29 Sept 2026), 6-K (11 Sept 2026), 6-K (03 Sept 2026), 6-K (24 Jun 2026).
In brief
One and one Green Technologies is a recycler of waste and scrap metals in the Philippines that operates through contractually controlled variable interest entities. It reported fiscal 2025 revenue of 65.8 million USD, up 23.12%, and the company is in its first period as a listed stock after its October 2025 IPO.
SWOT
Strengths
- Government authorization to process hazardous waste and declared compliance with environmental requirements, which act as a barrier to entry for competitors 1.
- Proprietary exhaust gas recirculation technology, which the company considers an advantage over competitors that cannot prevent pollution 1.
- Revenue and net income growth in fiscal 2025, with gross profit rising faster than revenue 1.
Weaknesses
- High dependence on two main products, copper alloy ingots and aluminum scrapes, which account for most revenue 1.
- Control through contractual arrangements without direct ownership may be less effective than direct ownership and costly to enforce 1.
- Small company size and workforce may limit execution capacity for international expansion 1.
Opportunities
- Expansion into Southeast Asia and other international markets, with raw material sources from Japan and South Korea 1.
- Sustained demand for recycled alloys in the metallurgical industry, which the company sees as part of the global transition to renewable sources 1.
- Strategic acquisitions and investments in recycling technologies, which could accelerate growth if executed effectively 1.
Threats
- Legal uncertainty over enforcing contractual arrangements in the Philippines, which have not been tested in a court of law 1.
- Political instability and corruption issues in the Philippine government, which can affect the business environment 1.
- Inflationary pressures and currency fluctuations that could raise costs and weigh on margins 1.
Risks
- VIE structure and contract enforcementhigh
Control over Philippine operations depends on contractual arrangements that have not been tested in court, and if they cannot be enforced the company could be unable to operate its business 1.
- Foreign ownership restrictionshigh
If Philippine authorities find that the structure does not comply with restrictions on foreign investment, the company could face severe penalties, including being prohibited from operating 1.
- Inflation and raw material costsmedium
Higher raw material prices and labor costs could weigh on margins if they cannot be passed on to customers 1.
- Political and policy instabilitymedium
Political instability and changes in government policy could affect demand and operating results 1.
- Concentration in a few productsmedium
Revenue concentrated in two product categories means a drop in demand or prices for these materials could have a disproportionate effect on results 1.
Investment thesis
What would need to be true (bull case)
- Rising revenue and net income in fiscal 2025, together with an improving gross margin, suggest the business model can generate profit if demand holds 1.
- Government authorization to process hazardous waste and proprietary recirculation technology could offer a competitive position that is hard to replicate 1.
- The expansion plan in Southeast Asia and other markets could open new revenue sources if executed successfully 1.
What would break the thesis
- The contractual control structure could be challenged or prove ineffective before Philippine authorities or courts, with severe consequences for operations 1.
- Concentration of revenue in two products leaves the company exposed to changes in demand or prices for these materials 1.
- Inflationary pressures and currency fluctuations could reduce margins if costs cannot be passed on to customers 1.
What to watch
- Revenue trend in the copper and aluminum segments relative to demand in the Asia-Pacific regionQ1 2027
- Use of proceeds from the April 2026 offering and execution of the international expansion strategy2027
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 27 Apr 2026; since then the company filed 6-K (29 Sept 2026), 6-K (11 Sept 2026), 6-K (03 Sept 2026), 6-K (24 Jun 2026).
The business
The company recycles, produces and trades waste and recovered metals in the Philippines through Yoda Metal and DL Metal, entities controlled by contractual arrangements rather than direct equity ownership by the Cayman parent. Its activities include processing electronic waste and industrial scrap, with an estimated annual capacity of around 300000 tons, supported by a government authorization to import hazardous waste as raw material 1. Its core products are copper alloy ingots and aluminum scrapes, which accounted for 68.5% and 30.0% of revenue in 2025 respectively 1.
The company says its exhaust gas recirculation system captures ash and slag for further metal recovery, a technology it considers an advantage over table concentrators that cannot prevent pollution in final processing stages 1. Customers are industrial enterprises in the casting and vehicle sectors, and raw materials come from local sources and from Korea, Japan, Southeast Asia, Europe and the USA 1.
The legal structure is specific: the Cayman parent does not hold the Philippine operations directly but controls them through contractual agreements with the VIEs, because of Philippine restrictions on foreign ownership 1. This matters for investors because the strength of control depends on enforcing these contracts under Philippine law, which has not yet been tested in a court of law 1.
Market context
The expansion strategy targets Southeast Asia and other international markets and aims to secure raw material sources from Japan and South Korea, with demand from end customers tied to the Asia-Pacific region where sales grew in 2025 1.
Trends
- Rising demand for recycled alloystailwind
The company observed higher sales volumes for copper and aluminum ingots in 2025, driven by stronger demand in the Asia-Pacific region, which could support growth if that demand holds 1.
- Stricter environmental rulesmixed
The company argues its environmentally friendly processes position it well for regulations worldwide, but Philippine environmental legislation is tightening and compliance costs could rise if rules advance 1.
- Inflationary cost pressuresheadwind
Inflation, higher raw material prices and fluctuations of the Philippine peso against the dollar can raise operating and borrowing costs, particularly if they cannot be passed on to customers 1.
- International expansiontailwind
The growth strategy in Southeast Asia and other markets, together with a planned international business development team, could open new customers but carries execution risk 1.
Competitive position
The company says it differentiates itself through its environmentally friendly gas recirculation technology and its authorization to process hazardous waste, while competing technologies such as table concentrators cannot prevent pollution in final processing stages 1. The supplied sources do not name US-listed competitors, so competitive recognition is limited to the company's own description 1.
The company says it could maintain its position by developing technology and products, but if it fails to innovate it could lose customers to other recyclers in the region, making competitive pressure an important factor for its growth outlook 1.
- Table concentrator technologies
The company describes these technologies as less effective at preventing pollution in the final stages of processing 1.
- Other metal recyclers in the Philippines
The source mentions industry competition without naming specific companies 1.
- Recyclers in the Asia-Pacific region
The regional markets where the company focuses its growth are also where competition is present 1.
- Recycling operators in Southeast Asia
Planned expansion in this area could bring the company into direct competition with these operators 1.
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)29 Sept 2026
- Current report (foreign issuer)11 Sept 2026
- Current report (foreign issuer)03 Sept 2026
- Current report (foreign issuer)24 Jun 2026
- Annual report (foreign issuer)27 Apr 2026
- Current report (foreign issuer)22 Apr 2026
- Current report (foreign issuer)15 Apr 2026
- Current report (foreign issuer)14 Apr 2026
- Current report (foreign issuer)31 Mar 2026
- Current report (foreign issuer)27 Jan 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / One and one Green Technologies. INC · 27 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.