Cango Inc. CANG
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
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EV/EBITDA—
Dividend yield—
Diluted EPS—
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $688.1M | $89.9M | $1.70B | $287.1M | $615.4M | $314.5M | $206.9M | $158.7M | — |
| Cost of revenue | $659.9M | $75.1M | $212.9M | $265.3M | $464.2M | $168.3M | $77.5M | $62.5M | — |
| Gross profit | $28.1M | $14.8M | $1.49B | $21.8M | $151.2M | $146.3M | $129.4M | $96.2M | — |
| R&D | — | $749.0K | $4.2M | $6.7M | $11.0M | $9.6M | $8.2M | $6.8M | — |
| SG&A | — | $15.8M | $7.0M | $43.4M | $43.3M | $40.7M | $34.0M | $22.0M | — |
| Total operating expenses | $1.13B | $95.0M | $7.0M | $424.5M | $619.1M | $265.8M | $160.4M | $118.5M | — |
| Operating income | -$437.1M | -$5.1M | -$7.0M | -$137.3M | -$3.6M | $48.8M | $46.4M | $40.2M | — |
| Interest expense | — | $90.3K | $577.4K | $2.4M | $2.3M | $422.8K | $1.9M | $2.8M | — |
| Pre-tax income | -$451.9M | $4.8M | $2.9M | -$126.8M | $1.9M | $573.7M | $70.1M | $57.6M | — |
| Income tax | $842.0K | $181.1K | $13.2M | $34.3M | $3.3M | $56.7M | $11.9M | $13.0M | — |
| Net income | -$622.0M | $41.7M | -$5.5M | -$161.1M | -$1.3M | $516.4M | $56.2M | $44.0M | — |
| Shares, diluted (wtd. avg.) | 283.3M | 233.0M | 253.9M | 274.1M | 289.9M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $41.2M | $90.4M | $102.3M | $180.6M | $378.5M | $363.3M | $589.6M | $557.4M | $164.7M |
| Short-term investments | — | $40.1M | $89.4M | $281.5M | $407.8M | $665.5M | $85.8M | $38.7M | — |
| Receivables | — | $3.1M | $9.1M | $38.7M | $35.1M | $21.7M | $21.3M | $12.6M | — |
| Total current assets | $125.1M | $473.7M | $547.1M | $793.1M | $1.19B | $1.36B | $795.9M | $691.5M | — |
| Property, plant and equipment | $18.8M | $65.5K | $1.2M | $2.1M | $3.1M | $1.6M | $2.1M | $2.7M | — |
| Goodwill | — | — | — | $20.9M | $23.3M | $22.2M | $20.8M | $21.1M | $0 |
| Other intangibles | $292.8K | $6.5M | $6.8M | $7.0M | $7.2M | $6.9M | $6.4M | $246.3K | — |
| Total assets | $1.13B | $817.8M | $654.7M | $1.02B | $1.72B | $1.86B | $1.25B | $1.06B | — |
| Short-term debt | — | $17.1M | $130.5K | $81.9M | $147.2M | $188.3M | $124.0M | $68.0M | — |
| Total current liabilities | $176.7M | $257.4M | $109.5M | $366.9M | $536.3M | $376.6M | $417.9M | $227.7M | — |
| Long-term debt | $557.6M | — | $100.3K | $11.0M | $76.3M | $149.9M | $43.3M | $68.8M | — |
| Total liabilities | $735.9M | $263.9M | $117.1M | $390.6M | $620.9M | $577.9M | $466.1M | $297.5M | — |
| Retained earnings | -$635.5M | -$13.6M | -$47.3M | $1.3M | $469.4M | $606.2M | $122.5M | $101.5M | — |
| Total equity | $397.0M | $553.9M | $532.8M | $623.1M | $1.10B | $1.28B | $786.8M | $763.8M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$109.8M | -$40.8M | $146.3M | -$82.3M | -$63.5M | -$95.3M | $60.7M | $26.9M | — |
| Depreciation and amortisation | $117.0M | $11.8M | $109.0K | $977.2K | $1.3M | $1.5M | $1.5M | $1.0M | — |
| Stock-based compensation | $4.9M | $1.4M | $3.5M | $23.0M | $13.8M | $12.1M | $11.8M | $4.9M | — |
| Capital expenditure | $9.4M | $65.1K | $251.4K | $670.2K | $3.0M | $821.5K | $6.2M | $2.1M | — |
| Investing cash flow | $78.7M | -$178.7M | $303.0M | $284.1M | $417.6M | -$75.6M | -$172.1M | -$238.3M | — |
| Financing cash flow | -$148.9M | -$17.7M | -$170.2M | -$433.5M | -$305.4M | -$58.4M | $104.9M | $595.0M | — |
| Dividends paid | — | — | — | $271.3M | $149.9M | $41.0M | $36.9M | $3.9M | — |
| Buybacks | $1.2M | $12.6M | $34.2M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-041972.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $158.7M | $206.9M | $314.5M | $615.4M | $287.1M | $1.70B | $89.9M | $688.1M |
| Gross profit | — | $96.2M | $129.4M | $146.3M | $151.2M | $21.8M | $1.49B | $14.8M | $28.1M |
| Net income | — | $44.0M | $56.2M | $516.4M | -$1.3M | -$161.1M | -$5.5M | $41.7M | -$622.0M |
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