CBAK Energy Technology, Inc. Stock price
Is CBAK Energy Technology, Inc. a Top Scorer Stock based on the Dividend, High-Growth-Investing or Leverman Strategy?
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Key metrics
📘 Market Capitalization
📈 What is it?
Market capitalization shows how much a company is currently worth on the stock market.
🧮 How is it calculated?
🏛️ Why is it important?
It helps classify companies by size (Large, Mid, Small Cap) and indicates their market presence and relative stability.
🧮 Calculation
🎯 What does this mean for investors?
- Large-cap companies tend to be more stable, often pay dividends, but may grow more slowly.
- Smaller firms may offer higher growth potential but come with more volatility.
- Market capitalization is a useful indicator of company size — but not a measure of whether a stock is undervalued or overvalued.
📘 Enterprise Value (EV)
📈 What is it?
Enterprise Value represents the total cost to acquire a company — including its debt and excluding its cash reserves.
🧮 How is it calculated?
(= Market Cap + Net Debt)
🏛️ Why is it important?
EV gives a more complete picture of a company's value than market cap alone and is used in key valuation ratios like EV/FCF or EV/Sales.
🧮 Calculation
🎯 What does this mean for investors?
- Enterprise Value shows the true cost of buying a company, including all financial obligations.
- It is more accurate than just looking at market cap, especially when comparing companies with different levels of debt or cash.
- Professional investors prefer EV-based multiples because they better reflect the company’s full financial footprint.
📘 Net Debt
📈 What is it?
Net Debt shows how much debt remains after subtracting a company’s available cash reserves.
🧮 How is it calculated?
🏛️ Why is it important?
It indicates how dependent a company is on borrowed money and how easily it can service its debt in the short term.
🧮 Calculation
🎯 What does this mean for investors?
- Low or negative net debt signals financial strength and flexibility.
- Companies with strong cash positions are better positioned in crises.
- High net debt increases financial risk — especially in environments with rising interest rates or economic downturns.
📘 Cash
📈 What is it?
Cash represents all liquid assets a company can access immediately — including cash, bank deposits, and short-term investments.
🧮 How is it calculated?
🏛️ Why is it important?
It reflects a company’s financial flexibility and resilience — enabling investments, buybacks, or buffer in downturns.
🧮 Calculation
🎯 What does this mean for investors?
- A strong cash position means greater room for maneuver and crisis resistance.
- Cash-rich companies can invest, pay down debt, or repurchase shares.
- But excess idle cash might indicate a lack of growth opportunities.
📘 Shares Outstanding
📈 What is it?
Shares outstanding represent the total number of a company’s shares currently held by investors — excluding treasury stock.
🧮 How is it calculated?
🏛️ Why is it important?
It’s the basis for key metrics like Earnings Per Share (EPS), Market Capitalization, or the Price/Earnings ratio (P/E).
🧮 Calculation
🎯 What does this mean for investors?
- Fewer shares in circulation typically increase earnings per share — making each share more valuable.
- Share buybacks reduce the number of shares and boost per-share metrics.
- Issuing new shares does the opposite — diluting shareholder value and lowering per-share figures.
📘 Price-to-Earnings Ratio (P/E)
📈 What is it?
The P/E ratio shows how many times a company's earnings per share are reflected in its current share price — in other words, how "expensive" the stock appears relative to its profits.
🧮 How is it calculated?
🏛️ Why is it important?
The P/E ratio is one of the most widely used valuation metrics. It helps investors assess whether a stock appears cheap or expensive compared to its earnings power.
🧮 Calculation
📊 P/E (TTM) = Based on earnings from the last 12 months (Trailing Twelve Months):🎯 What does this mean for investors?
- A low P/E may indicate undervaluation — or signal underlying issues.
- A high P/E may reflect strong growth expectations — or an overvalued stock.
📘 Price-to-Sales Ratio (P/S)
📈 What is it?
The P/S ratio shows how much investors are paying for $1 of the company’s revenue – regardless of profitability.
🧮 How is it calculated?
🏛️ Why is it important?
P/S is especially useful for evaluating growth companies or businesses not yet profitable. It reflects how the market values the company’s sales.
🧮 Calculation
Market Cap = $81.55m | Revenue (TTM) = $229.87m
Market Cap = $81.55m | Estimated Revenue = $359.80m
🎯 What does this mean for investors?
- A low P/S may indicate undervaluation — or low profitability.
- A high P/S can reflect strong growth expectations — or excessive optimism.
- Especially helpful when evaluating companies where profits are low, volatile, or negative.
📘 Enterprise Value to Sales (EV/Sales)
📈 What is it?
EV/Sales shows how much investors are paying for $1 of revenue — considering not just equity, but also debt and cash. It’s the capital structure–adjusted version of the P/S ratio.
🧮 How is it calculated?
🏛️ Why is it important?
It’s ideal for comparing companies with different levels of debt. It reflects a company's true cost relative to its revenue.
🧮 Calculation
Enterprise Value = $119.81m | Revenue (TTM) = $229.87m
Enterprise Value = $119.81m | Forward Revenue = $359.80m
🎯 What does this mean for investors?
- EV/Sales allows for capital structure–neutral company comparisons.
- A lower ratio may indicate undervaluation; a higher one may signal strong growth expectations or overvaluation.
- Especially helpful when evaluating high-growth companies with low or negative earnings.
📘 Enterprise Value to Free Cash Flow (EV/FCF) | ex SBC
📈 What is it?
EV/FCF compares a company’s enterprise value with its free cash flow. The metric therefore shows the multiple of current free cash flow at which a company is valued. EV/FCF ex SBC additionally accounts for stock-based compensation (SBC). While SBC does not represent a direct cash outflow, issuing shares as compensation can dilute existing shareholders. Therefore, SBC is deducted from free cash flow in this adjusted version.
🧮 How is it calculated?
EV/FCF ex SBC = Enterprise Value ÷ (Free Cash Flow (TTM) − SBC)
🏛️ Why is it important?
EV/FCF provides a valuation based on free cash flow and therefore complements earnings-based valuation metrics such as the P/E ratio. The ex SBC version additionally accounts for the economic impact of stock-based compensation and provides a more conservative view from a shareholder perspective.
🧮 Calculation
🎯 What does this mean for investors?
- A low EV/FCF means that enterprise value is low relative to current free cash flow. The reasons should always be considered in the context of the company and its industry.
- A high EV/FCF means that enterprise value is high relative to current free cash flow. This can, for example, reflect high growth expectations or temporarily weak cash generation.
- When SBC is positive and adjusted free cash flow remains positive, EV/FCF ex SBC is generally higher than the standard EV/FCF.
- The metric is particularly useful for companies with relatively stable and predictable cash flows.
- If free cash flow is negative or very low, EV/FCF has limited usefulness and should not be interpreted like a standard valuation multiple.
📘 Price-to-Book Ratio (P/B)
📈 What is it?
The P/B ratio compares a company’s market value to its book value — showing how much investors are paying for each dollar of net assets.
🧮 How is it calculated?
🏛️ Why is it important?
P/B is commonly used for asset-heavy industries like banks or industrials. It helps assess whether a stock is trading above or below its net asset value.
🧮 Calculation
🎯 What does this mean for investors?
- A P/B below 1 may signal undervaluation — or weak profitability.
- A P/B above 1 implies the market expects future value creation (e.g., brand, IP, growth).
- Best used for companies with tangible assets and strong balance sheets.
📘 Equity Ratio
📈 What is it?
The equity ratio indicates what portion of a company’s total assets is financed by shareholders’ equity – in other words, how much it relies on its own capital.
🧮 How is it calculated?
🏛️ Why is it important?
A high equity ratio reflects financial strength and stability, especially during downturns. It’s a key indicator of a company’s solvency and long-term risk profile.
🧮 Calculation
🎯 What does this mean for investors?
- Companies with high equity ratios are generally more resilient and less dependent on external debt.
- Low equity ratios can signal higher risk or aggressive financial strategies.
- Important: Always assess the equity ratio in combination with the return on equity (ROE). This shows not just how stable the company is – but also how efficiently it uses shareholder capital.
📘 Return on Equity (ROE)
📈 What is it?
Return on equity (ROE) shows how efficiently a company uses its shareholders’ equity to generate profit. In other words: how much net income is earned per dollar of equity.
🧮 How is it calculated?
🏛️ Why is it important?
ROE is a core profitability metric. It helps investors understand whether a company delivers attractive returns on the capital provided by its shareholders.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROE indicates that the company is using its capital efficiently and profitably.
- It’s especially meaningful for capital-intensive businesses or firms with high equity bases.
- Important: A very high ROE can also result from high debt levels – always interpret it alongside the equity ratio to assess financial health.
📘 Return on Capital Employed (ROCE)
📈 What is it?
ROCE measures how efficiently a company generates profits from its total capital – including both equity and interest-bearing debt.
🧮 How is it calculated?
It evaluates the return on all capital employed, regardless of how it’s financed.
🏛️ Why is it important?
ROCE is ideal for comparing companies with different financing structures. It shows how well management uses capital to create value for both shareholders and creditors.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROCE means the company uses its capital efficiently – regardless of whether it's funded by debt or equity.
- The higher the ROCE compared to peers, the more value the company creates with its invested capital.
- Especially relevant for capital-intensive sectors like industrials, energy, or infrastructure.
📘 Return on Invested Capital (ROIC)
📈 What is it?
ROIC measures how efficiently a company generates returns from the capital invested in its core operations – regardless of whether the capital comes from equity or debt.
🧮 How is it calculated?
- NOPAT = Net Operating Profit After Taxes
- Invested Capital = Operating assets minus non-interest-bearing liabilities
🏛️ Why is it important?
ROIC is one of the most accurate indicators of capital efficiency. Unlike return on equity, it is not distorted by leverage and shows how much value is created for all capital providers.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROIC shows how effectively a company uses the capital that is truly invested in its core operations.
- Unlike ROCE, ROIC focuses only on the capital that is actively used to run the business – and that requires a return (i.e. interest-bearing).
- Especially useful when comparing companies with large amounts of excess cash or non-interest-bearing liabilities – giving a more realistic picture of capital efficiency.
📘 Leverage Ratio (Debt-to-Equity)
📈 What is it?
The leverage ratio indicates how much a company relies on interest-bearing debt (such as loans and bonds) relative to its shareholders’ equity.
🧮 How is it calculated?
🏛️ Why is it important?
This ratio helps assess a company’s financial structure and risk profile. High leverage can enhance returns – but also increases exposure to interest rate changes and financial stress.
🧮 Calculation
🎯 What does this mean for investors?
- A low leverage ratio signals financial strength and independence.
- A higher ratio can improve returns in good times but increases risk during downturns or rising interest rate periods.
- 👉 Always interpret in the context of industry, capital intensity, and interest rate environment.
📘 SBC | in % Revenue
📈 What is it?
SBC (Stock-Based Compensation) refers to equity-based compensation granted by a company to its employees and executives. The percentage shows SBC relative to revenue.
🧮 How is it calculated?
SBC as % of Revenue = (SBC ÷ Revenue) × 100
🏛️ Why is it important?
Stock-based compensation is a real cost factor for shareholders. It can increase the number of shares outstanding and therefore dilute existing shareholders. The percentage of revenue shows how heavily a company relies on equity-based compensation and how significant this form of compensation is relative to the size of the business.
🧮 Calculation
🎯 What does this mean for investors?
- A lower figure is generally positive: Stock-based compensation is relatively small compared with the company's revenue.
- A high figure can indicate greater reliance on stock-based compensation and a higher potential risk of dilution. However, it is also important to consider whether the company offsets dilution through share buybacks.
- The trend over time should also be considered. A high but declining percentage presents a different picture from a persistently high or increasing percentage.
- A single-digit SBC-to-revenue ratio is not unusual among many growth-oriented and technology companies.
📘 SBC as % of FCF
📈 What is it?
SBC (Stock-Based Compensation) refers to equity-based compensation granted by a company to its employees and executives. The percentage shows SBC relative to free cash flow (FCF).
🧮 How is it calculated?
SBC as % of FCF = (SBC ÷ Free Cash Flow) × 100
🏛️ Why is it important?
Stock-based compensation is a real cost factor for shareholders. It can increase the number of shares outstanding and therefore dilute existing shareholders. The percentage of free cash flow shows how significant SBC is relative to the cash generated by the company. Since SBC is non-cash compensation, it is typically not deducted as a cash outflow when calculating FCF.
🧮 Calculation
🎯 What does this mean for investors?
- A lower value is generally favorable. Stock-based compensation is relatively small compared with the company's cash generation.
- A high value means that SBC represents a significant portion of the company's reported free cash flow, even though SBC itself is non-cash.
- The higher the value, the more significant SBC can be as an economic cost to shareholders, particularly when it results in share dilution.
📘 SBC Growth 1Y
📈 What is it?
SBC Growth 1Y shows how much a company's stock-based compensation has changed compared to the previous year.
🧮 How is it calculated?
🏛️ Why is it important?
SBC Growth shows whether stock-based compensation is becoming more or less significant for shareholders. If SBC increases significantly, it can lead to greater shareholder dilution over time. At the same time, SBC is a non-cash expense that reduces earnings on the income statement but is added back in the cash flow statement.
🧮 Calculation
🎯 What does this mean for investors?
- A high positive value is generally negative, as rising SBC can increase the burden on shareholders, particularly through potential dilution.
- What matters is whether the development of SBC is sustainable over the long term. Some level of SBC is common among many growth and technology companies.
📘 Share Count Growth 1Y
📈 What is it?
Share Count Growth 1Y shows how much the number of shares outstanding has increased or decreased over a one-year period.
🧮 How is it calculated?
🏛️ Why is it important?
The number of shares determines how many shares the company's earnings and assets are distributed across. If the share count decreases, existing shareholders' relative ownership increases. If it increases, existing shareholders are diluted. The metric therefore makes dilution and share buybacks directly visible.
🧮 Calculation
🎯 What does this mean for investors?
- A negative value is generally positive, as the number of shares outstanding is decreasing.
- A positive value indicates dilution of existing shareholders.
- A declining share count is not automatically positive: It also matters at what price the shares are repurchased and how the buybacks are financed.
📘 Shareholder Yield
📈 What is it?
Shareholder Yield measures how much capital a company returns to shareholders or uses to reduce debt relative to its market capitalization. It goes beyond dividend yield by also including share buybacks and debt reduction.
🧮 How is it calculated?
🏛️ Why is it important?
Dividend yield only tells part of the story. Companies can also return capital through share buybacks, while reducing debt can strengthen the balance sheet. Shareholder Yield combines all three components into one metric, giving investors a broader view of how a company uses its capital.
🧮 Calculation
🎯 What does this mean for investors?
- A higher Shareholder Yield generally indicates more capital being returned to shareholders or used to reduce debt.
- The mix matters: dividends, buybacks, and debt reduction can affect shareholders in different ways.
- Share buybacks are most beneficial when shares are repurchased at attractive valuations.
- Investors should also consider whether dividends, buybacks, and debt reduction are sustainable over time.
📘 Revenue
📈 What is it?
Revenue shows how much a company earns in total from selling its products and services – the gross income before any costs are deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Revenue is one of the key figures to assess a company’s size, market position, and growth potential.
🧮 Calculation
🎯 What does this mean for investors?
- Growing revenue indicates rising demand and can be an early signal of future earnings growth.
- Comparing actual and expected revenue reveals trends in the market environment and analyst sentiment.
- Note: Strong revenue alone isn’t enough – margins and profitability matter just as much.
📘 EBITDA
📈 What is it?
EBITDA stands for “Earnings Before Interest, Taxes, Depreciation, and Amortization.” It reflects a company’s operating profit before the effects of financing, taxes, and accounting depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
EBITDA is widely used to evaluate a company’s operating performance – especially across capital-intensive sectors or international comparisons.
🧮 Calculation
🎯 What does this mean for investors?
- A high or growing EBITDA indicates strong operational profitability – independent of taxes, interest, or accounting methods.
- It’s especially useful for comparing companies across sectors or geographies.
- Important: EBITDA is not a net income figure – it excludes key costs like depreciation and interest.
📘 EBIT
📈 What is it?
EBIT stands for “Earnings Before Interest and Taxes.” It reflects a company’s operating profit after depreciation, but before interest and tax expenses.
🧮 How is it calculated?
🏛️ Why is it important?
EBIT is a core profitability metric that shows how well the company performs in its main business operations – independent of capital structure and tax environment.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT indicates strong profitability from the company’s core business – before financial and tax effects.
- It allows better comparison between companies with different debt levels or tax structures.
- Compared to EBITDA, EBIT already accounts for depreciation and reflects capital intensity more clearly.
📘 Net Income
📈 What is it?
Net income is the company’s total profit – the amount left after all expenses, taxes, interest, and depreciation have been deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Net income is the most comprehensive measure of a company’s profitability – showing how much actual profit remains after all business and financing costs.
🧮 Calculation
🎯 What does this mean for investors?
- Growing net income indicates that the company is managing all of its costs efficiently.
- It directly influences valuation metrics like P/E ratio and the company’s dividend capacity.
- Over time, net income trends reveal how resilient and profitable the business model really is.
📘 Free Cash Flow (FCF) | ex SBC
📈 What is it?
Free cash flow shows how much cash remains after a company has covered its operating and capital expenditures. FCF ex SBC additionally deducts stock-based compensation (SBC) to adjust the cash flow for the effect of non-cash SBC.
🧮 How is it calculated?
Free Cash Flow ex SBC = Operating Cash Flow − SBC − Capital Expenditures (CAPEX)
🏛️ Why is it important?
FCF reflects a company’s actual financial strength – independent of reported accounting earnings. It shows how much flexibility a company has for dividends, share buybacks, or debt reduction. FCF ex SBC also deducts stock-based compensation and shows how much cash generation remains after SBC.
🧮 Calculation
🎯 What does this mean for investors?
- High free cash flow indicates that a company has strong financial strength – independent of reported earnings.
- It is often a solid basis for sustainable dividends and share buybacks.
- Declining FCF can be a warning sign, even if reported earnings remain stable.
📘 Revenue Growth
📈 What is it?
Revenue growth shows how much a company’s sales have changed compared to the previous year – both on a trailing basis (TTM) and based on forward projections.
🧮 How is it calculated?
Forward = (Expected revenue ÷ Revenue in prior year − 1) × 100
Forward growth is based on analyst estimates for the current fiscal year.
🏛️ Why is it important?
Rising revenue signals growing demand, business expansion, and market share gains – especially important for growth-oriented companies.
🧮 Calculation
🎯 What does this mean for investors?
- Growth is the engine of long-term value creation – especially in tech and growth sectors.
- What matters is not just current growth, but its sustainability.
- Forward projections reflect whether analysts expect continued momentum – or a slowdown.
📘 EBITDA Growth
📈 What is it?
EBITDA growth shows how much a company’s operating profit (before interest, taxes, depreciation, and amortization) has increased or decreased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBITDA ÷ EBITDA from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
Growing EBITDA indicates improving operational profitability – regardless of financing or accounting effects.
🧮 Calculation
🎯 What does this mean for investors?
- Strong EBITDA growth signals operational efficiency and scalability – especially during growth phases.
- EBITDA growth can be an early indicator of margin and earnings expansion – but should be assessed alongside revenue and EBIT.
📘 EBIT Growth
📈 What is it?
EBIT growth shows how much a company’s operating profit (after depreciation, but before interest and taxes) has increased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBIT ÷ EBIT from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
EBIT growth is a direct indicator of a company’s business performance – taking into account capital intensity through depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- Rising EBIT signals improving operating profitability – even after accounting for depreciation.
- It’s especially important for evaluating companies with significant capital expenditures.
- Combined with revenue and EBITDA growth, EBIT growth provides a well-rounded view of operational progress.
📘 Net Income Growth
📈 What is it?
Net income growth shows how much a company’s bottom-line profit has increased or decreased compared to the previous year – both on a trailing basis (TTM) and based on analyst projections.
🧮 How is it calculated?
Forward = (Expected net income ÷ Net income from prior year − 1) × 100
The forward estimate reflects analysts’ expectations for the current fiscal year.
🏛️ Why is it important?
Net income is the ultimate measure of profitability. Growing net income signals stronger efficiency, cost control, and sustainable earnings power.
🧮 Calculation
🎯 What does this mean for investors?
- Stronger net income boosts valuation, dividend potential, and investor confidence.
- If profits stall while revenue grows, it may signal margin pressure.
📘 Free Cash Flow Growth
📈 What is it?
Free cash flow (FCF) growth shows how a company’s available cash – after covering operating expenses and capital expenditures – has changed compared to the previous year.
🧮 How is it calculated?
🏛️ Why is it important?
Free cash flow reflects real financial strength. Growing FCF indicates more flexibility for dividends, share buybacks, and reinvestment.
🧮 Calculation
🎯 What does this mean for investors?
- Declining FCF may point to rising investments, increasing costs, or weaker operating performance.
- Especially for dividend investors, FCF growth is critical – since dividends are paid from actual available cash.
- A negative trend isn't always bad, but it deserves closer attention.
📘 Gross Margin
📈 What is it?
Gross margin shows how much of a company’s revenue remains after deducting the direct costs of goods sold (like materials and production). It represents the company’s “raw profit” before fixed costs, taxes, and interest.
🧮 How is it calculated?
Or simply: Gross Margin = Gross Profit ÷ Revenue × 100
🏛️ Why is it important?
Gross margin indicates how efficiently a company can produce or procure what it sells. It is a key measure of product-level profitability and pricing power.
🧮 Calculation
🎯 What does this mean for investors?
- A high gross margin suggests strong pricing power and efficient production.
- Falling margins may signal rising input costs or competitive pressure.
- Compared to peers, gross margin offers insights into the quality of a business model.
📘 EBITDA Margin
📈 What is it?
The EBITDA margin shows how much of a company’s revenue remains as operating profit before interest, taxes, depreciation, and amortization.It reflects operating efficiency without being distorted by financing or accounting factors.
🧮 How is it calculated?
🏛️ Why is it important?
The EBITDA margin reveals how much operating income a company generates per dollar of revenue – independent of capital structure and tax effects.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBITDA margin reflects strong core profitability – before accounting distortions.
- It allows for effective comparisons across companies and sectors.
- A stable or growing margin signals efficient cost control and business scalability.
📘 EBIT Margin
📈 What is it?
The EBIT margin shows what percentage of revenue remains as operating profit after depreciation but before interest and taxes.
🧮 How is it calculated?
🏛️ Why is it important?
The EBIT margin reflects a company’s core profitability while accounting for capital intensity (e.g. machinery, infrastructure). It’s especially useful for comparing businesses with different levels of depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT margin shows that the company remains efficient even after factoring in depreciation.
- It’s especially relevant for capital-intensive industries.
- Stable or rising EBIT margins over time are a strong indicator of pricing power and business quality.
📘 Net Margin
📈 What is it?
Net margin shows how much of a company’s revenue remains as bottom-line profit after deducting all costs, interest, taxes, and depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
Net margin reflects a company’s overall efficiency – across operations, financing, and taxation. It shows how much actual profit is generated from each dollar of revenue.
🧮 Calculation
🎯 What does this mean for investors?
- A high net margin means the company is not only strong operationally but also manages financing and taxes efficiently.
- Peer comparisons reveal business quality and competitiveness.
- Declining margins despite revenue growth can be a red flag for rising costs or inefficiencies.
📘 Free Cash Flow Margin | ex SBC
📈 What is it?
The Free Cash Flow Margin shows how much free cash flow a company generates relative to its revenue. In simplified terms, free cash flow is calculated as operating cash flow minus capital expenditures. The Free Cash Flow Margin ex SBC additionally accounts for stock-based compensation (SBC). While SBC does not represent a direct cash outflow, issuing shares as compensation can dilute existing shareholders. Therefore, SBC is deducted from free cash flow in this adjusted metric.
🧮 How is it calculated?
Free Cash Flow Margin ex SBC = (Free Cash Flow − SBC) ÷ Revenue × 100
🏛️ Why is it important?
The Free Cash Flow Margin shows how efficiently a company converts its revenue into free cash flow. Strong free cash flow can provide financial flexibility for dividends, share buybacks, debt repayment, or further investments. The ex SBC version additionally accounts for the economic impact of stock-based compensation and therefore provides a more conservative view of cash generation from a shareholder perspective.
🧮 Calculation
🎯 What does this mean for investors?
- A high Free Cash Flow Margin shows that a company converts a high proportion of its revenue into free cash flow.
- This can provide greater financial flexibility for dividends, share buybacks, debt repayment, or investments.
- The Free Cash Flow Margin ex SBC additionally accounts for potential shareholder dilution from stock-based compensation.
- The long-term trend is particularly important. Declining margins can, for example, result from higher investments, changes in working capital, or weaker operating performance.
📘 Earnings per share (EPS)
📈 What is it?
Earnings per Share (EPS) shows how much profit is attributable to a single share – and is one of the most important metrics for evaluating a company's performance.
🧮 How is it calculated?
The diluted share count reflects potential new shares that could be issued through options, convertible bonds, or other rights.
🏛️ Why is it important?
EPS is the basis for many key valuation metrics like P/E ratio, PEG ratio, or payout ratio. It enables comparisons of profitability across companies, regardless of their size.
🧮 Calculation
🎯 What does this mean for investors?
- EPS captures per-share profitability and is especially useful for comparisons over time or with analyst estimates.
- Rising EPS may signal consistent growth or share buybacks.
- Important: Always use diluted EPS for more realistic valuations – especially in companies with stock-based compensation.
📘 Free cash flow per share (FCF per share)
📈 What is it?
Free Cash Flow per Share shows how much free cash flow a company generates per outstanding share – after investments, but before dividends or debt repayments.
🧮 How is it calculated?
Free cash flow is calculated as operating cash flow minus capital expenditures (CapEx).
🏛️ Why is it important?
FCF per Share reveals how much real cash is available per share – useful for dividends, buybacks, or reducing debt. Unlike net income, free cash flow is harder to manipulate and often seen as a more reliable metric.
🧮 Calculation
🎯 What does this mean for investors?
- High FCF per share signals strong financial flexibility.
- It shows how much capital the company can effectively reinvest or return to shareholders.
- Particularly relevant for dividend payers and capital-efficient businesses.
📘 Short interest
📈 What is it?
Short interest indicates how many shares of a company are currently sold short – that is, borrowed and sold by investors who expect the price to decline.
🧮 How is it calculated?
It reflects the percentage of a company’s shares that are being shorted relative to the total shares available.
🏛️ Why is it important?
Short interest serves as a sentiment indicator: A high value may signal skepticism or bearish expectations – but also increases the potential for a short squeeze if prices rise unexpectedly.
🧮 Calculation
🎯 What does this mean for investors?
- Low short interest usually indicates market confidence in the company.
- High short interest can be a warning sign – or an opportunity if sentiment shifts.
- Especially relevant in volatile markets or ahead of key earnings releases.
📘 Employees
📈 What is it?
The employee count shows how many people a company employs worldwide – offering insights into its size, structure, and business model.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess operational scale, labor intensity, and cost structure. Combined with revenue and profit, it enables key metrics like revenue per employee or productivity.
🧮 Calculation
🎯 What does this mean for investors?
- A high headcount can signal operational complexity – but also significant growth capacity.
- Revenue per employee is a key indicator of efficiency.
- Especially useful for comparing tech, industrial, or service-heavy companies.
📘 Revenue per employee
📈 What is it?
Revenue per employee indicates how much revenue a company generates on average per employee – a key measure of efficiency and productivity.
🧮 How is it calculated?
The employee count is typically taken from the most recent annual report.
🏛️ Why is it important?
This metric helps compare business models – especially between labor-intensive and technology-driven companies. A high value suggests automation, operational efficiency, or strong value creation per head.
🧮 Calculation
🎯 What does this mean for investors?
- A high revenue per employee indicates a scalable and margin-strong business model.
- A low figure may reflect labor-intensive operations or lower value-add.
- Especially helpful when comparing tech companies to industrial or service sectors.
CBAK Energy Technology, Inc. Events
Past Events
|
MAR
30
Q4 2025 Earnings Call
7 months ago
|
|
NOV
10
Q3 2025 Earnings Call
11 months ago
|
StocksGuide Free
CBAK Energy Technology, Inc. — Q4 2025 Earnings Call
1. Management Discussion
Good day, ladies and gentlemen. Thank you for standing by, and welcome to CBAK Energy Technologies Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions] As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time.
Now I will turn the call over to Irina Tian, IR specialist of CBAK Energy. Ms. Tian, please proceed.
Thank you, operator, and hello, everyone. Welcome to CBAK Energy's Earnings Conference Call for the Fourth Quarter and the Full Year of 2025. And joining us today are Mr. Zhiguang Hu, Chief Executive Officer of CBAK Energy; Mr. Thierry Li, Chief Financial Officer and Company Secretary; and [ Yvonne ], who will help with our interpretation during the Q&A session.
We released our results earlier today. The press release is available on the company's IR website at ir.cbak.com.cn as well as from the Newswire Services. A replay of this call will also be available in a few hours on our IR website.
Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. Further information regarding these and other risks and uncertainties is included in the company's public filings with the SEC.
The company does not assume any obligation to update any forward-looking statements, except as required under applicable law.
Also, please note that unless otherwise stated, all figures mentioned during the conference call are in U.S. dollars.
With that, let me now turn the call over to our CEO, Mr. Zhiguang Hu. Please go ahead, Jason.
Hello, everyone. Thank you for joining our earnings conference call for the fourth quarter and the full year of 2025. The fiscal year 2025 was a definitive transitional period for CBAK Energy, characterized by our comprehensive structural upgrade of our product portfolio, aggressive capacity expansion and deliberate pivot toward next-generation form factors. Despite the short-term bottom-line pressure inherent to some massive capacity transitions, our top line growth demonstrated positive momentum. In the fourth quarter, our consolidated net revenue surged by 131.80% year-over-year to $58.80 million. For the full year, consolidated net revenue reached $195.19 million, representing an 11% increase over 2024.
Let me detail the structural transition driving our core business. At our Dalian facility, our customers are actively transitioning away from our legacy 26-series battery product line with over a decade of history and 1 gigawatt hour capacity to our newly introduced highly advanced Model 40135 cells. To support this paradigm shift, we successfully commissioned a new 40135 product line with 2.3 gigawatt hour capacity at the end of 2025. The market reception has been truly unprecedented. Demand for the 40135 cells currently far exceeds our available supply. Meaning, we are selling every single unit we can produce, and our order book heavily outpace our current ramp-up trajectory.
Similarly, at our Nanjing facility, to alleviate the severe supply shortage for our highly sought after model 32140 cells, we successfully added 2 new production lines at our Phase II facility at the end of 2025. This expansion adds 3.0 gigawatt hour of much needed capacity to complement the 1.5 gigawatt hour already operational in Phase I. And we expect these 2 new high-speed lines to reach full capacity by early 2027. Both our Dalian and Nanjing expansion are currently in an intensive capacity ramp-up phase.
While this initial phase carries higher unit cost that have temporarily suppressed our gross margin and the short-term profitability, we view this as a necessary and highly strategic investment as our customers complete their transition to the model 40135 and our Phase II facility complete its ramp up by early 2027. We anticipate a dramatic and sustained resurgency in our top line revenue.
Furthermore, to present the value chain, starting in 2025, our wholly-owned subsidiary, Nanjing BFD initiated dedicated battery pack integration operation by assembling individual cells into complete plug and play battery system, which bypass intermediate integrators to serve end user directly. Currently, these manufactured pack units are predominantly engineered for the light electric vehicle battery swapping infrastructure throughout the African market. In 2025, we officially forged a deep strategic partnership with SPIRO, 1 of Africa's largest 2-wheeler battery swapping enterprises. I'm thrilled to report that SPIRO has rapidly scaled to become 1 of our top 5 customers. We are incredibly proud that our advanced battery cell technology is providing the essential momentum for Africa's new energy transition.
To deepen this relationship, we are actually exploring further collaborative models, including the potential establishment of a dedicated corporate entity within the Africa region to directly assist and accelerate SPIRO's localized business expansion. This African success is mirrored across other key international markets, driving our explosive global growth where revenue from REV's skyrocket by 252% year-over-year to $36.36 million for the full year.
In India and broader global market, our institutional client base has expanded significantly. We have established deep collaborations with highly prestigious international blue-chip customers, including Anker Innovation, Scania, which became our direct ordering entity following its acquisition of Northvolt business unit that originally procured our products, now operating under [ Posida ] as well as Ather Energy, Schneider ACE Battery and Inverted Energy.
The endorsement from these global Tier 1 enterprises provide the strongest possible validation of our product reliability and safety. Similarly, in Vietnam, we have forged a tight knit partnership with a key client DAT as DAT business volume has skewed our shipment volume in the Vietnamese 2-wheeler sector has experienced exponential growth.
As investor may be aware, the PRC government have initiated a phase out policy for export tax rebates, reducing the rate for lithium-ion battery from 13% to 9%, with further reductions to 6% by April 2026 and a complete elimination by January 2027. To proactively establish a dialectical hedge against this macroeconomic headwind and protect our international margins, we moved decisively to localize our global supply chains. We have already incorporated our Malaysian subsidiary on April 30, 2025, and are actively pushing forward with physical construction of manufacturing facility there within this year to offer diversified tariff-insulated sourcing option for our top-tier international clients.
We also anticipate signing and announcing additional contract with major international clients win, which we believe will serve as strong catalyst for our shareholders.
Our raw material segment, Hitrans, delivered a powerful turnaround, benefiting from an ongoing upward cycle in raw material price. Hitrans experienced a sharp operational rebound beginning in the third quarter of 2025. Full year revenue for this segment surged 123% year-over-year to $89.21 million. As the raw material pricing cycle continues its robust upward trajectory, we confidently anticipate Hitrans will reach new performance highs. To structurally capture this momentum, Hitrans is aggressively expanding its proprietary infrastructure, including the ongoing construction of new 10,000 metric ton cathode manufacturing plant slated for full operation in the first half of 2027, alongside a massive 37,000 metric ton precursor facility. This strategic capacity injection will decisively elevate Hitrans' revenue [ starting ] in 2026 and beyond.
Strategically, we are also advancing our corporate structure. Our stockholders have approved a redomicile merger to change our place of incorporation from Nevada to Cayman Islands. This move will allow us to streamline operational and administrative efficiency while similarly aligning our corporate structure with our aggressive international expansion strategy.
Driven by the insatiable demand for our new 40135 and the 32140 battery cell, the pending completion of our capacity ramp-ups, the continued strength of Hitrans and our expanding footprint across global LEV market, we project with absolute confidence that our consolidated sales will hit a record high in 2026, delivering explosive growth.
Now let me turn the call to our CFO, Thierry Li, for a deeper dive into our financials.
Thank you, Jason. 2025 demonstrated the resilient dialectical nature of our vertically integrated business model. While our Battery segment faced margin compression due to the aggressive ramp-up of our new production lines and rising raw material costs, our Hitrans raw materials segment capitalized on this exact macroeconomic environment.
Looking at our fourth quarter results. Consolidated net revenues reached $58.80 million, a 131.8% increase compared to Q4 2024. This hyper growth effectively decoupled from the temporary bottom line pressures caused by our ongoing capacity transactions. Within this, our Battery Business revenues were about $30.82 million, an increase of 35.8% year-over-year. Despite a 10.6% decrease in energy storage sector caused by the phaseout out of legacy Model 26650 cells at Dalian, we offset this decline through explosive growth in the LEV revenues, which skyrocketed by 524.2% to $12.92 million in the fourth quarter.
Our Hitrans segment generated $27.98 million in Q4 2025, a massive 944.1% surge from Q4 2024, directly reflecting the escalating upward cycle of raw material pricing and robust downstream order placements.
Our gross profit for Q4 2025 was about $4.28 million, representing a gross margin of 7.3% compared to 13.1% in Q4 2024. This sharp margin compression was fundamentally driven by the transactional friction costs, suboptimal yields and disproportionately high fixed cost absorption inherent to the initial ramp-up phase of the new Model 40135 in Dalian and Phase 2 Models 32140 lines in Nanjing.
Consequently, operating loss for the fourth quarter was about $8.01 million, and the net loss attributable to shareholders was $7.38 million.
For the full year 2025, net revenues were $195.19 million, up by about 11% year-over-year. Hitrans contributed $89.21 million, up by 123%, while the Battery Business contributed $105.98 million.
Gross profit for the year was about $18.42 million, representing a margin of 9.4%, down from 23.7% in 2024.
Operating expenses increased to $36.86 million, up 12% year-over-year, driven by a 21% increase in R&D to $15.8 million. This deliberate expansion directly funded our next-generation technology road map, specifically accelerating the development of our advanced large-format cylindrical models such as the 60115, 60135 and 60150 as well as highly specialized sodium-ion chemistries engineered for the extreme low temperature resilience and fast-charging capabilities.
We also increased by 16% in G&A to $16.20 million, reflecting increased headcount for our new production lines.
Our full year operating loss was about $18.44 million, and the net loss attributable to shareholders was about $9.38 million. However, analyzing the bottom line requires a dialectical view of our risk management framework. First, our other income surged to $8.27 million, fundamentally bolstered by a highly lucrative $5 million compensation payment we strictly enforced and successfully collected from a canceled customer order. This underscores the robust legal and contractual protections we secure in our commercial agreements.
Second, to proactively shield our margins from global volatility, 2025 marked our inaugural deployment of a substantiative financial hedging structure. We systematically executed foreign currency forward contracts, options, swaps and commodity contracts. While this proactive risk mitigation resulted in a calculated noncash derivative fair value loss of approximately $0.44 million, it effectively neutralized extreme macroeconomic fluctuations and provided essential cash flow predictability to -- for our supply chain.
Turning to our balance sheet and liquidity. Our financial foundation remains robust and highly liquid. As of December 31, 2025, we held cash and cash equivalents and restricted cash of $75.68 million, an increase from $60.79 million at the end of 2024. Notably, despite reported net loss, our net cash provided by operating activities was extremely strong at $48.55 million for the year compared to $39.70 million in 2024. This powerful cash generation was primarily attributable to disciplined working capital management, including a $63.66 million increase in trade and bills payable. We allocated $44.65 million to capital expenditures in 2025 to fund aggressive construction and equipping of our new production facilities across Dalian, Nanjing, Zhejiang and Anhui.
In summary, the temporary margin squeeze is calculated byproduct of scaling next-generation capacity with the Hitrans segment providing dialectical hedge in the raw material cost, our battery capacity ramp-up scheduled for the completion in early 2027, and our deeply integrated global expansion progressing rapidly, we are structurally positioned for massive operational turnaround and record-breaking sales.
Thank you, and we will open the floor for the Q&A session. Operator, please go ahead.
[Operator Instructions] We will now take the first question, question is from the line of Brian Lantier from Zacks Small-Cap Research.
2. Question Answer
Fantastic news to see Hitrans suddenly turning things around. I wonder if you could talk a little bit about where you see gross margins in the Battery Business? And when you think they might normalize as you ramp up capacity?
Thank you, Brian. Let me answer your question. So I think it was back in Q3 and Q4 when our Nanjing Phase 2 and our Dalian operations and new products kick in, our gross margin was affected severely. So right now, we are in a phase of ramping up capacity. And we believe that the Dalian facility ramp-up would be completed in the first half of this year, which we have already received way enough orders for these new products. And for Nanjing Phase 2 because it's much bigger, so our time line is for early 2027, but we have confidence to try our best to catch up the time line. So our target would be also the second half of 2026, but the reasonable timetable will be early 2027. So ideally, in the second half of this year, our gross margin will gradually revolve. And I believe in the full year of 2026, the gross margin number at least looks better than right now.
Great. And could you describe a little bit more about the cell packing business? And do you see that becoming a growth opportunity for the company, particularly in the LEV market?
I will answer the question first and then, Yvonne, please help with the interpretation for Jason, and Jason I think can add some points. So we have received a substantial order from one of our major African customers who actually originally from India, and starting early 2025, this substantial order kick in and they use most -- I think all the cells purchase were from Nanjing 32140. And in order to do that, we have already set up a battery pack assembly unit within our structure, and this unit is dedicated to purchase cells from our Nanjing factory and put the cells into a battery pack and sell it to the African customer. And this customer has already become 1 of our top 5 customers as of 2025. And we are also looking forward to a much deeper and more comprehensive collaboration with each other. Maybe in the future, our collaboration will extend beyond the area of LEV into energy storage sector. So I think this is what I want to add. Please Jason, see if anything you want to add?
[Foreign Language]
[Foreign Language]
There's only 1 thing that Jason would like to add, which is the advantage of our battery cell use in the LEV market. So this has already been demonstrated in the Southeast Asia market and Indian market. So our product, no matter our cell or battery pack, are -- performs really well in high temperature. This is very critical to this kind of application. So we think we may meet the same success as we already did in the Southeast and Indian market.
Great. That's really helpful. I guess 1 final question. Are you seeing anything on the energy storage front as it relates to grid storage best companies? And is that impacting your R&D plans for new cell formats that could come out at the end of the decade?
I think that's a question for Jason.
[Foreign Language]
[Foreign Language]
So currently, for the ESS market, I think we are only focusing on the home ESS, balcony ESS and also portable ESS, so which are all like smaller size. But in addition, we are also in research and development of our big prismatic cell, which can be used in what you just mentioned, the grid size energy storage system. So that will be like one of our like target product for this.
[Operator Instructions] We will now take the next question, this is from the line of [ Charles Nemec ], Individual shareholder.
Now I've reviewed the 40135 ramp-up data and the margin compression. And I have a structural and validated solution for the thermal wall and charging limitations impacting you daily in production. Now I submitted a brief to your executive inbox, and I sent one to your engineer as well, and I'm just wanting to confirm that you've received that. And if we could make a time to discuss those matters in a private forum?
Which engineer or which e-mail address you contacted through?
The e-mail I sent it to is -- let me find it here, [email protected].
Okay. There are just -- daily, there are thousands of e-mails coming in, so maybe in the junk box or maybe it just be in [ filtered ]. So can you just resend the e-mail and we'll make sure that related personnels would just look into it.
Okay. I can resend them all. I sent them on the 28th early in the morning, but I can resend them. There's one to the CEO, the second in command and your engineer, all of you got a copy through that e-mail and I tagged you call.
Okay. We will just review it.
Seeing no more questions in the queue, so let me turn the call back to Jason for closing remarks.
Thank you, operator, and thank you all for participating in today's call and for your support. We appreciate your interest and look forward to reporting to you again next quarter on our progress.
Thank you all again. This concludes the call. You may now disconnect.
CBAK Energy Technology, Inc. — Q3 2025 Earnings Call
1. Management Discussion
Good day, ladies and gentlemen. Thank you for standing by, and welcome to CBAK Energy Technology's Third Quarter of 2025 Earnings Conference Call. [Operator Instructions] Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time.
Now, I will turn the call over to [ Etian Tian ], IR specialist of CBAK Energy. Ms. Tian, please proceed.
Thank you, operator, and hello, everyone. Welcome to CBAK Energy's earnings conference call for the third quarter of 2025. And joining us today are Mr. Zhiguang Hu, or Jason, Chief Executive Officer of CBAK Energy; Mr. Thierry Li, Chief Financial Officer and Company Secretary; and [ Yvan ], who will help with our interpretation, will join us for the Q&A section.
We released our results earlier today. The press release is available on the company's IR website at ir.cbak.com.cn as well as from the Newswire Services. A replay of this call will also be available in a few hours on our IR website.
Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. Further information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligations to update any forward-looking statements, except as required under the applicable laws.
Also, please note that unless otherwise stated, all figures mentioned during the conference call are in U.S. dollars.
With that, let me now turn the call over to our CEO. Please go ahead, Jason.
Hello, everyone. Thank you for joining our earnings conference call for the third quarter of 2025. Our consolidated revenue rose sharply this quarter, increasing 36.5 percentage year-over-year to $50.9 million compared with approximately $44.6 million in the same period last year. The strong growth was primarily driven by the recovery of Hitrans, our battery raw material segment.
Since acquiring Hitrans in 2021, the segment has been weighed down by industry-wide overcapacity and prolonged decline in raw material prices, resulting in several years of weak performance. Recently, however, we have been pleased to see clear signs of recovery. Raw material prices have rebounded steadily, driving a meaningful turnaround at Hitrans.
In the third quarter alone, Hitrans generated approximately $27.2 million in revenue, representing 143.7 percentage increase year-over-year. With the continued recovery in the raw material market, we are confident that Hitrans team will build on this positive momentum to further expand sales and narrow losses in the coming quarters.
Our Battery business also began to stabilize in the third quarter after a short-term volume decline caused by our ongoing product portfolio upgrade. Revenue in this segment grew 0.7 percentage year-over-year, effectively returning to the same level as the prior year quarter. This improvement was mainly driven by robust demand for our Model 32140 battery produced at Nanjing plant, where production capacity remains fully utilized and a significant backlog of orders persist. To address this supply shortage, we are activating the launch of Nanjing Phase II facility, although slightly delayed. We now expect mass production to begin in mid-November 2025.
Compared with the 13-gigawatt-hour capacity of Phase I, Phase II will add another 2 gigawatt-hour of capacity. Given the current supply-demand imbalance in the market, we anticipate this expansion will make a substantial contribution to next year's sales.
In October 2025, we officially commissioned a new product line in -- at our Dalian facility. Historically, this plant has focused on producing Model 26650 and 26700 battery model, product with nearly 2 decades of market presence. In response to evolving customer needs, we invested in a new line dedicated to manufacturing the larger, higher performance 40135 Model.
Over the past year, many of Dalian's customers have been conducting testing and certification process for the Model 40135, a necessary step that temporarily impacted shipment volume and contributed to a brief slowdown in the battery segment revenue growth. Early market feedback, however, has been very encouraging.
Previously, the Dalian plant had 1 gigawatt-hour of capacity for the Model 26 Series. The new line has an additional 2.3-gigawatt-hour capacity for the Model 40135, similar to the Nanjing expansion. This upgrade is expected to become a key growth driver for 2026.
Now, let me turn the call to our CFO, Thierry Li.
Thank you, Jason. As Jason mentioned, Hitrans delivered a very solid performance this quarter, with sales increasing significantly and net loss narrowing to $2.1 million, an 18.8 percentage improvement from $2.6 million in the same period of 2024. If this momentum continues, we believe Hitrans is on track to return to profitability in the coming quarters.
Meanwhile, although our Battery business reported flat year-over-year revenue, following a weaker performance last quarter, segment net income rebounded strongly, up 122.7% to $4.53 million compared with $2.04 million a year ago. This rebound was mainly driven, as Jason noted, by robust demand for our Model 32140 batteries, which are currently in short supply.
With both segments showing minimal improvement in profitability, our consolidated net income attributable to CBAK Energy shareholders reached $2.65 million, representing a 150-fold increase year-over-year.
Looking ahead, we are confident that the new 40135 production line at our Dalian facility, together with the upcoming 32140 production expansion at our Nanjing plant will further enhance our earnings performance. Combined with the ongoing recovery of our raw materials industry, which continues to strengthen Hitrans' results, we believe that our overall performance in the coming quarters and years will deliver sustainable value for our shareholders and investors.
Furthermore, we continue to pursue overseas manufacturing expansion, but progress remains contingent on updates to China's export control policies covering lithium battery materials and equipment. Until the Chinese authorities clarify or adjust these restrictions following the recent meeting between the Chinese and U.S. presidents in Busan, we are unable to advance specific overseas projects.
On the commercial side, we have signed a term sheet with one of Asia's largest publicly listed companies to jointly develop an overseas lithium battery production base. This reflects strong strategic alignment and commercial potential. However, we would like to remind investors that policy shifts could affect our overseas plans and timelines.
Should policy conditions permit, management of the company has reached a firm consensus that establishing a stable overseas production base outside China will significantly enhance our supply reliability and strengthen our position as a preferred supplier to major global customers.
Thank you. We will now open the floor for the Q&A section. Operator, please go ahead.
[Operator Instructions] Our first question comes from the line of Brian Lantier from Zacks Small-Cap Research.
2. Question Answer
Really impressive results from the LEV division. I was wondering if you could talk a little bit about the -- any particular customer concentration in that market. And how sustainable you see the light electric vehicle sales going in the coming quarters?
Thank you, Brian. [Foreign Language]
[Interpreted] So actually, for the LEV business, especially the 2-wheelers and 3-wheelers, so I think now we are developing pretty good, especially in the Southeast Asia countries. And for example, in India, for the top 10 2-wheelers OEM, and we are -- we have all in communication with them. And some of them we have already had mass supplied to them. And also, for example, in India, for the battery swapping business, we are also incorporating with one of the biggest battery swapping company in India as well. So in this industry, I think now we are developing pretty good.
Okay. Great. That's really helpful. Regarding Hitrans, what do you see overall in the market regarding potential oversupply? Has demand come up to meet the supply in the industry? And should we expect more balance in the market going forward?
Okay. Brian, let me take this question. For Hitrans, this product is always very clear. They're making NCM raw materials to a couple of the battery manufacturers. Some of them are not our competitors because we're making LFP cells. So Hitrans is exploring the market, but I don't think they're going to find some other new customers beyond the current area. So what Hitrans will do is to keep improving the quality and the performance of their current raw material products. And along with this recovery of the whole industry, I think we can expect or anticipate a much stronger performance of Hitrans in the coming quarters.
Okay. Great. And, I guess, just looking forward to 2026, it sounds like you could, at some point be -- have production capacity above 6 gigawatts. When do you expect that to be the case? Is it midyear, the end of 2026? And has it become any easier to secure the necessary production equipment to power these expansions?
[Interpreted] Yes. So currently, the status is all of the equipment has already been installed in the warehouse in both Dalian and Nanjing factories. So we have already -- well, in Dalian, it's already trial production. And in Nanjing, it will be start of trial production in this month. And we, hopefully, by Q1 next year, then we will achieve mass production for both factories. And also, in terms of all of the orders we have got, and then the 6 gigawatts-hour will be achieved next year, which is in accordance with the order we have already received from the customers.
And I would like to add another point, I think in mid-November, we're going to announce our Nanjing expansion plan, it's going to complete soon. And then, we are preparing a video showing the latest equipment we have and the new production line for the purpose that all our investors and shareholders can have a very, very clear picture of how our factory looks like.
[Operator Instructions] Seeing no more questions in the queue, let me turn the call back to Jason for closing remarks.
Thank you, operator. And thank you all for participating in today's call and for your support. We appreciate for your interest and look forward to reporting to you again next quarter on our progress.
Thank you all again. This concludes the call. You may now disconnect.
[Portions of this transcript that are marked [Interpreted] were spoken by an interpreter present on the live call.]
CBAK Energy Technology, Inc. — Q3 2025 Earnings Call
Financial data from CBAK Energy Technology, Inc.
Revenue
Revenue is the sum of all sales generated by a company, e.g. for its products or services.
Revenue (TTM) metric explainedDirect Costs
Direct costs are the costs incurred directly in connection with the manufacture of the product or service.
Gross Profit
Gross Profit indicates how much of the revenue remains in the company after deducting direct production costs. If the percentage share of sales is calculated, this is referred to as the gross margin.
Gross Profit metric explainedSelling and Administrative Expenses
Selling, general and administrative expenses (SG&A) include all expenses for marketing and sales as well as the general administration of the company.
Research and Development Expense
Research and development costs (R&D) provide information on how much the company invests in the research and development of its products. The costs are particularly interesting as a percentage of revenue and in comparison to direct competitors.
EBITDA
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the company's earnings before interest, taxes, depreciation and amortization. The EBITDA margin is calculated as a percentage of sales.
Depreciation and Amortization
Depreciation represents reductions in the value of the company's assets (e.g. due to wear and tear on machinery).
EBIT (Operating Income)
EBIT (Earnings Before Interest and Taxes) is the company's profit before interest and taxes, also known as the operating income. The EBIT Margin is calculated as a percentage of sales at
.
Net Profit
Net Profit represents the profit or loss after deduction of all costs.
Net Profit metric explainedStocksGuide Premium
| Mar '26 |
+/-
%
|
||
| Revenue | 230 230 |
51%
51%
100%
|
|
| - Direct Costs | 207 207 |
73%
73%
90%
|
|
| Gross Profit | 23 23 |
31%
31%
10%
|
|
| - Selling and Administrative Expenses | 23 23 |
24%
24%
10%
|
|
| - Research and Development Expense | 17 17 |
29%
29%
7%
|
|
| EBITDA | -6.21 -6.21 |
167%
167%
-3%
|
|
| - Depreciation and Amortization | 11 11 |
38%
38%
5%
|
|
| EBIT (Operating Income) EBIT | -17 -17 |
1,271%
1,271%
-7%
|
|
| Net Profit | -17 -17 |
4,597%
4,597%
-7%
|
|
In millions USD.
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CBAK Energy Technology, Inc. Stock News
Company Profile
CBAK Energy Technology, Inc. engages in the development, manufacture, and sale. of lithium ion rechargeable batteries. It offers aluminum-case cell, battery pack, cylindrical cell, lithium polymer cell, and high-power lithium battery cell. Its products are used for electronic vehicles; light electric vehicles; and electric tools, energy storage, uninterruptible power supply, and other high power applications. The company was founded in August 2001 and is headquartered in Dalian, China.
StocksGuide Premium
| Head office | United States |
| CEO | Mr. Hu |
| Employees | 1,739 |
| Founded | 1999 |
| Website | www.cbak.com.cn |
