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ECX · Nasdaq · United States · Services-Computer Integrated Systems Design
In shortECARX Holdings Inc. is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -15.9% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -16.8% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | – | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.55× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -6.60× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -12.47 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -9.8% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 4 | 100/100 |
| Revenue growth volatility | 5.8% | 89/100 |
| Operating margin volatility | 13.0% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 26.0% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2024 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 5 fiscal years from the company's annual reports.
CNY millions; negative values in parentheses.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| Revenue | 2,241 | 2,779 | 3,562 | 4,700 | 5,561 |
| Cost of revenue | 1,690 | 1,962 | 2,567 | 3,427 | 4,407 |
| Gross profit | 551 | 817 | 994 | 1,273 | 1,154 |
| Research & development | 706 | 1,210 | 1,333 | 1,264 | 1,260 |
| Selling, general & admin | – | 608 | 1,310 | 931 | 777 |
| Operating income | (430) | (1,000) | (1,628) | (918) | (882) |
| Interest expense | 59 | 132 | 45 | 79 | 134 |
| Pre-tax income | (440) | (1,170) | (1,578) | (1,019) | (988) |
| Income tax | 0.2 | 6.9 | 29 | (3.6) | 1.5 |
| Net income | (440) | (1,174) | (1,564) | (941) | (932) |
| Diluted EPS | −¥2.27 | −¥5.99 | −¥8.02 | −¥2.79 | −¥2.77 |
| Diluted shares (millions) | 239 | 237 | 239 | 337 | 337 |
−12.47 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 30, 2026