ECARX Holdings Inc. ECX
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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
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.20
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $847.9M | $771.5M | $662.2M | $515.7M | — | — |
| Cost of revenue | $686.6M | $611.4M | $483.6M | $372.1M | — | — |
| Gross profit | $161.3M | $160.1M | $178.6M | $143.6M | — | — |
| R&D | $123.3M | $174.9M | $177.7M | $175.6M | — | — |
| SG&A | $93.8M | $108.2M | $131.7M | $171.1M | — | — |
| Total operating expenses | $216.0M | $283.0M | $308.6M | $356.2M | — | — |
| Operating income | -$54.8M | -$122.9M | -$130.0M | -$212.6M | — | — |
| Interest expense | $23.8M | $18.6M | $11.2M | $7.4M | — | — |
| Pre-tax income | -$67.7M | -$137.5M | -$144.4M | -$220.3M | — | — |
| Income tax | $1.2M | $210.0K | $525.0K | $3.1M | — | — |
| Net income | -$66.0M | -$129.8M | -$133.3M | -$223.2M | — | — |
| EPS, basic | -0.20 | -0.39 | -0.40 | -1.15 | — | — |
| EPS, diluted | -0.20 | -0.39 | -0.40 | -1.15 | — | — |
| Shares, diluted (wtd. avg.) | 338.7M | 336.6M | 337.4M | 239.3M | 236.7M | 238.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $87.1M | $44.2M | $80.3M | $130.7M | $130.6M | — |
| Receivables | — | — | — | $60.6M | — | — |
| Inventory | $62.3M | $31.9M | $22.6M | $19.1M | — | — |
| Total current assets | $483.2M | $386.1M | $463.2M | $475.7M | — | — |
| Property, plant and equipment | $26.7M | $21.9M | $17.0M | $17.2M | — | — |
| Goodwill | $3.7M | $3.5M | — | — | — | — |
| Other intangibles | $40.4M | $42.2M | $25.3M | $5.3M | — | — |
| Total assets | $662.4M | $514.3M | $601.1M | $616.3M | — | — |
| Accounts payable | — | — | — | $148.5M | — | — |
| Short-term debt | $310.7M | $185.2M | $169.0M | $126.1M | — | — |
| Total current liabilities | $823.0M | $698.6M | $593.7M | $521.9M | — | — |
| Total liabilities | $945.9M | $752.0M | $718.6M | $642.0M | — | — |
| Retained earnings | -$1.19B | -$1.12B | -$939.5M | -$828.0M | — | — |
| Total equity | -$282.7M | -$239.7M | -$117.1M | -$5.0M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$94.4M | -$60.0M | -$172.4M | -$58.8M | — | — |
| Depreciation and amortisation | $19.9M | $20.6M | $12.1M | $9.8M | — | — |
| Stock-based compensation | $13.3M | $19.1M | $24.9M | $105.2M | — | — |
| Capital expenditure | $12.2M | $15.9M | $8.9M | $18.5M | — | — |
| Investing cash flow | -$70.5M | -$8.1M | $87.3M | -$41.1M | — | — |
| Financing cash flow | $203.9M | $36.4M | $40.6M | $78.0M | — | — |
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 0001628280-26-021865.
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 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $515.7M | $662.2M | $771.5M | $847.9M |
| Gross profit | — | — | $143.6M | $178.6M | $160.1M | $161.3M |
| Net income | — | — | -$223.2M | -$133.3M | -$129.8M | -$66.0M |
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