China Automotive Systems, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data China Automotive Systems, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
576
651
766
Cost of revenue
473
542
620
Gross profit
104
109
145
Research and development
29.2
27.6
45.1
Selling, general and administrative
25.5
27.7
29.7
Operating expenses
70.3
73.2
95.4
Operating income
39.2
40.3
53.6
Interest expense
1.02
1.81
1.7
Interest income
1.52
2.36
1.6
Other non-operating income
5.35
5.78
7.11
Pre-tax income
48.2
44.1
61.4
Income tax
5.14
5.89
11.6
Net income to minority interests
5.05
7.9
9.07
Net income
37.7
30
42.8
EBITDA
58
60.5
67.9
EPS, basic
1.25
0.99
1.42
EPS, diluted
1.25
0.99
1.42
Shares, basic (weighted)
30.2
30.2
30.2
Shares, diluted (weighted)
30.2
30.2
30.2
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
155
57
142
Short-term investments
27.6
35.9
Inventory
113
124
Other current assets
4.15
7.04
Total current assets
603
738
Property, plant and equipment
104
134
Lease right-of-use assets
0.09
Intangible assets
3.42
3.6
Long-term investments
64.3
65.5
Other non-current assets
3.2
0
Total assets
851
1,002
Accrued liabilities
59.2
76.1
Short-term debt
72.6
81.3
Total current liabilities
456
541
Total liabilities
461
551
Total debt
0.7
Paid-in capital
69.7
70.5
Treasury stock
-7.76
-7.76
Other comprehensive income
-14.8
-6.73
Shareholders' equity
344
350
401
Minority interests
40.2
49.4
Total equity
368
390
451
Total liabilities and equity
851
1,002
Cash flow statement
FY2023
FY2025
FY2025
Net income
42.7
37.9
51.9
Depreciation and amortization
18.7
20.2
14.3
Deferred income tax
-1.32
-6.04
-1.44
Change in inventory
-1.65
-1.79
-9.16
Cash from operations
19.9
9.78
112
Capital expenditures
-18.2
-43.7
-37.2
Purchases of investments
-68.6
-77.9
-32.2
Sales and maturities of investments
3.29
0.32
3.44
Cash from investing
-28.6
-77.9
-31.5
Share buybacks
-0.07
Dividends paid
-22.4
-2.19
Cash from financing
6.8
17.4
11.5
Exchange rate effect
-1.82
-2.58
0.86
Net change in cash
-3.76
-53.4
92.5
Free cash flow
1.67
-33.9
74.4
Interest paid
1.15
1.79
1.7
Income taxes paid
7.97
18.5
20.5
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $4.86 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
19.0%
Gross profit / revenue.
Operating margin
7.0%
Operating income / revenue.
EBITDA margin
8.9%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
8.0%
Pre-tax income / revenue.
Net margin
5.6%
Net income / revenue.
FCF margin
9.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
14.6%
Cash from operations / revenue.
Effective tax rate
18.9%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
11.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
4.6%
Net income / average total assets.
Return on invested capital (ROIC)
15.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
5.9%
Research and development expense / revenue.
SG&A / revenue
3.9%
Selling, general and administrative expense / revenue.
Capex / revenue
4.9%
Capital expenditures / revenue.
D&A / revenue
1.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
17.6%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
33.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
33.2%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
12.3%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
42.9%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
43.4%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
1,042.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
14.8%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
17.8%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
-0.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.36x
Current assets / current liabilities.
Quick ratio
0.33x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.33x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
33.3%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.42
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$1.42
Net income per basic share, as reported (split-adjusted).
Revenue per share
$25.38
Revenue / diluted weighted shares.
FCF per share
$2.47
Free cash flow / diluted weighted shares.
Operating cash flow per share
$3.70
Cash from operations / diluted weighted shares.
Book value per share
$13.30
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividends paid / net income, when net income is positive.
Dividends / FCF
2.9%
Dividends paid / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$146.7M
Share price x shares outstanding.
Enterprise value
-$31.3M
Market cap + total debt - cash - short-term investments.
P/E
3.42x
Market cap / net income. Only when net income is positive.
P/S
0.19x
Market cap / revenue.
P/B
0.37x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.37x
Market cap / tangible book value, when positive.
P/FCF
1.97x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
1.31x
Market cap / cash from operations, when positive.
FCF yield
50.8%
Free cash flow / market cap.
Earnings yield
29.2%
Net income / market cap (the inverse of P/E).
Dividend yield
1.5%
Dividends paid over the period / market cap.
Shareholder yield
1.5%
(Dividends paid + share buybacks) / market cap.
What was China Automotive Systems, Inc.'s revenue in fiscal 2025?
China Automotive Systems, Inc. reported revenue of $765.7M for fiscal 2025, 17.6% higher than the year before.
Was China Automotive Systems, Inc. profitable in fiscal 2025?
Yes. Net income was $42.8M, a net margin of 5.6%.
How much free cash flow did China Automotive Systems, Inc. generate in fiscal 2025?
Cash from operations of $111.6M minus capital expenditures of $37.2M left free cash flow of $74.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.