NASDAQ : CAAS
China Automotive Systems, Inc. — Financial statements
Consumer Discretionary · Auto Parts · China
Last price 4.32 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 130.34M
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Financial statements
China Automotive Systems, Inc. (CAAS) reported revenue of 834.86M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 834.86M | 765.74M | 650.93M | 576.35M | 529.55M | 497.99M |
| Cost of Revenue | 661.66M | 621.91M | 543.18M | 473.62M | 447.34M | 426.86M |
| Gross Profit | 173.20M | 143.82M | 107.75M | 102.74M | 82.21M | 71.13M |
| Selling, General & Admin | 50.93M | 46.68M | 41.44M | 38.50M | 40.61M | 40.28M |
| Research & Development | 49.03M | 45.06M | 27.65M | 29.18M | 36.11M | 28.23M |
| Other Operating Expenses | -2.09M | -1.55M | -1.59M | -4.19M | -2.52M | -3.28M |
| Operating Expenses | 97.86M | 90.19M | 67.50M | 63.49M | 74.20M | 65.22M |
| Operating Income | 75.33M | 53.63M | 40.26M | 39.24M | 8.01M | 5.91M |
| Interest Expense | -4.67M | -1.70M | -1.81M | -1.02M | -1.45M | -1.44M |
| Interest & Investment Income | 363.00K | 3.67M | 4.29M | 2.99M | 3.16M | 2.91M |
| Earnings From Equity Investments | 545.00K | 2.09M | -340.00K | -360.00K | 2.39M | 6.33M |
| Currency Exchange Gain (Loss) | 1.06M | 1.06M | -2.11M | 3.35M | 9.83M | -3.20M |
| Other Non Operating Income (Expenses) | 9.65M | 5.71M | 4.72M | 3.67M | 3.54M | 4.61M |
| EBT Excluding Unusual Items | 82.28M | 64.45M | 45.01M | 47.88M | 25.48M | 15.12M |
| Gain (Loss) on Sale of Assets | -967.00K | -967.00K | -1.22M | -58.00K | -389.00K | |
| Pretax Income | 81.32M | 63.49M | 43.79M | 47.88M | 25.43M | 14.73M |
| Income Tax Expense | 14.50M | 11.58M | 5.89M | 5.14M | 3.08M | 4.00M |
| Earnings From Continuing Operations | 66.82M | 51.91M | 37.90M | 42.74M | 22.34M | 10.73M |
| Minority Interest in Earnings | -9.40M | -9.07M | -7.92M | -5.08M | -1.16M | 324.00K |
| Net Income | 57.41M | 42.84M | 29.98M | 37.66M | 21.18M | 11.05M |
| Net Income to Common | 57.41M | 42.84M | 29.98M | 37.66M | 21.18M | 11.05M |
| Shares Outstanding (Basic) | 30.17M | 30.17M | 30.18M | 30.19M | 30.64M | 30.85M |
| Shares Outstanding (Diluted) | 30.17M | 30.17M | 30.18M | 30.19M | 30.64M | 30.86M |
| EPS (Basic) | 1.90 | 1.42 | 0.99 | 1.25 | 0.69 | 0.36 |
| EPS (Diluted) | 1.90 | 1.42 | 0.99 | 1.25 | 0.69 | 0.36 |
| Free Cash Flow | 61.23M | 74.44M | -33.88M | 1.67M | 27.73M | 19.01M |
| Free Cash Flow Per Share | 2.03 | 2.47 | -1.12 | 0.06 | 0.91 | 0.62 |
| Gross Margin | 20.75% | 18.78% | 16.55% | 17.83% | 15.53% | 14.28% |
| Operating Margin | 9.02% | 7.00% | 6.18% | 6.81% | 1.51% | 1.19% |
| Profit Margin | 6.88% | 5.59% | 4.61% | 6.53% | 4.00% | 2.22% |
| Free Cash Flow Margin | 7.33% | 9.72% | -5.21% | 0.29% | 5.24% | 3.82% |
| EBITDA | 89.17M | 67.89M | 60.48M | 57.95M | 33.18M | 33.02M |
| EBITDA Margin | 10.68% | 8.87% | 9.29% | 10.05% | 6.27% | 6.63% |
| D&A For EBITDA | 13.84M | 14.26M | 20.22M | 18.71M | 25.17M | 27.11M |
| EBIT | 75.33M | 53.63M | 40.26M | 39.24M | 8.01M | 5.91M |
| EBIT Margin | 9.02% | 7.00% | 6.18% | 6.81% | 1.51% | 1.19% |
| Effective Tax Rate | 17.83% | 18.23% | 13.46% | 10.73% | 12.12% | 27.18% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 98.41M | 142.00M | 56.96M | 114.66M | 121.22M | 131.69M |
| Short-Term Investments | 35.93M | 27.56M | 11.08M | 12.86M | 1.76M | |
| Cash & Short-Term Investments | 98.41M | 177.93M | 84.52M | 125.74M | 134.08M | 133.45M |
| Accounts Receivable | 362.40M | 361.78M | 343.50M | 269.41M | 224.32M | 210.34M |
| Receivables | 362.40M | 361.78M | 343.50M | 269.41M | 224.32M | 210.34M |
| Inventory | 139.71M | 124.42M | 112.56M | 112.39M | 112.24M | 116.49M |
| Restricted Cash | 57.16M | 52.28M | 44.86M | 40.53M | 37.73M | 27.80M |
| Other Current Assets | 148.90M | 21.78M | 17.19M | 16.00M | 12.35M | 13.30M |
| Total Current Assets | 806.59M | 738.18M | 602.64M | 564.08M | 520.72M | 501.38M |
| Property, Plant & Equipment | 157.80M | 133.55M | 103.91M | 101.64M | 107.08M | 127.86M |
| Long-Term Investments | 61.52M | 92.02M | 104.39M | 68.82M | 59.81M | 45.10M |
| Other Intangible Assets | 14.47M | 15.26M | 12.25M | 13.10M | 10.83M | 12.54M |
| Long-Term Deferred Tax Assets | 16.51M | 14.75M | 8.90M | 7.65M | 10.11M | |
| Long-Term Deferred Charges | 36.72M | 4.00K | 3.20M | |||
| Other Long-Term Assets | 6.18M | 9.44M | 9.91M | 8.26M | 19.76M | |
| Total Assets | 1.08B | 1.00B | 850.58M | 766.44M | 714.35M | 716.76M |
| Accounts Payable | 361.53M | 350.34M | 292.81M | 253.58M | 235.11M | 228.05M |
| Accrued Expenses | 86.98M | 47.27M | 45.08M | 36.72M | 38.66M | 29.10M |
| Short-Term Debt | 74.99M | 81.34M | 71.87M | 48.01M | 45.67M | 47.59M |
| Current Portion of Long-Term Debt | 697.00K | |||||
| Current Portion of Leases | 52.00K | 203.00K | 226.00K | 1.24M | ||
| Current Income Taxes Payable | 3.63M | 1.94M | 2.29M | 680.00K | 311.00K | |
| Current Unearned Revenue | 5.50M | 4.45M | 8.63M | 5.65M | 2.40M | |
| Other Current Liabilities | 33.31M | 53.36M | 39.59M | 34.31M | 38.19M | 43.11M |
| Total Current Liabilities | 556.82M | 541.44M | 456.48M | 383.74M | 364.19M | 351.82M |
| Long-Term Debt | 5.69M | 145.00K | 1.22M | 528.00K | ||
| Long-Term Leases | 52.00K | 255.00K | 22.00K | |||
| Long-Term Deferred Tax Liabilities | 3.86M | 3.88M | 3.94M | 4.01M | 4.38M | |
| Other Long-Term Liabilities | 23.20M | 278.00K | 9.06M | 17.95M | 23.10M | |
| Total Liabilities | 580.01M | 551.00M | 460.79M | 398.02M | 386.94M | 379.32M |
| Common Stock | 32.00K | 32.00K | 3.00K | 3.00K | 3.00K | 3.00K |
| Additional Paid-In Capital | 70.50M | 70.50M | 69.66M | 63.73M | 63.73M | 63.73M |
| Retained Earnings | 374.62M | 345.29M | 302.45M | 296.68M | 259.02M | 237.84M |
| Treasury Stock | -7.76M | -7.76M | -7.76M | -7.70M | -7.70M | -5.26M |
| Comprehensive Income & Other | 6.40M | -6.73M | -14.78M | -8.26M | -3.41M | 24.72M |
| Total Common Equity | 443.79M | 401.34M | 349.57M | 344.46M | 311.65M | 321.03M |
| Minority Interest | 53.30M | 49.36M | 40.22M | 23.96M | 15.76M | 16.41M |
| Shareholders' Equity | 497.09M | 450.70M | 389.79M | 368.42M | 327.42M | 337.44M |
| Total Liabilities & Equity | 1.08B | 1.00B | 850.58M | 766.44M | 714.35M | 716.76M |
| Total Debt | 74.99M | 87.03M | 72.76M | 49.48M | 46.68M | 48.86M |
| Net Cash (Debt) | 23.42M | 90.90M | 11.76M | 76.26M | 87.40M | 84.59M |
| Net Cash Per Share | 0.78 | 3.01 | 0.39 | 2.53 | 2.85 | 2.74 |
| Filing Date Shares Outstanding | 30.17M | 30.17M | 30.17M | 30.19M | 30.19M | 30.85M |
| Total Common Shares Outstanding | 30.17M | 30.17M | 30.17M | 30.19M | 30.19M | 30.85M |
| Working Capital | 249.77M | 196.74M | 146.16M | 180.34M | 156.52M | 149.56M |
| Book Value Per Share | 14.71 | 13.30 | 11.59 | 11.41 | 10.32 | 10.41 |
| Tangible Book Value | 429.32M | 386.08M | 337.32M | 331.37M | 300.82M | 308.49M |
| Tangible Book Value Per Share | 14.23 | 12.80 | 11.18 | 10.98 | 9.97 | 10.00 |
| Buildings | 72.17M | 66.23M | 64.39M | 64.93M | 69.55M | |
| Machinery | 263.35M | 252.10M | 252.15M | 249.94M | 265.25M | |
| Construction In Progress | 28.31M | 14.78M | 11.82M | 8.24M | 6.58M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 57.41M | 42.84M | 29.98M | 37.66M | 21.18M | 11.05M |
| Depreciation & Amortization | 13.84M | 14.26M | 20.22M | 18.71M | 25.17M | 27.11M |
| Loss (Gain) From Sale of Assets | -570.00K | 997.00K | 1.30M | -3.00K | 58.00K | 389.00K |
| Asset Writedown & Restructuring Costs | -29.00K | 628.00K | 886.00K | 794.00K | ||
| Loss (Gain) on Equity Investments | -545.00K | -2.09M | 340.00K | 360.00K | -2.39M | -6.33M |
| Stock-Based Compensation | 88.00K | |||||
| Provision & Write-off of Bad Debts | -526.00K | -620.00K | -953.00K | 1.56M | 4.40M | 2.74M |
| Other Operating Activities | 8.87M | 7.63M | 1.88M | 3.76M | 5.08M | 2.44M |
| Change in Accounts Receivable | -49.70M | -9.62M | -77.69M | -50.70M | -36.94M | 26.56M |
| Change in Inventory | -16.85M | -9.16M | -1.79M | -1.65M | -5.37M | -25.68M |
| Change in Accounts Payable | 74.40M | 50.07M | 40.39M | 22.02M | 27.27M | -2.80M |
| Change in Unearned Revenue | 940.00K | 940.00K | -4.10M | 3.09M | 3.58M | 870.00K |
| Change in Income Taxes | -2.69M | -2.69M | -10.46M | -6.83M | 2.92M | -4.50M |
| Change in Other Net Operating Assets | 25.80M | 18.45M | 9.76M | -8.86M | 3.04M | -3.66M |
| Operating Cash Flow | 110.36M | 111.63M | 9.78M | 19.91M | 48.02M | 28.27M |
| Capital Expenditures | -49.13M | -37.19M | -43.66M | -18.23M | -20.30M | -9.26M |
| Sale of Property, Plant & Equipment | 6.55M | 169.00K | 20.51M | 2.79M | 1.51M | 150.00K |
| Sale (Purchase) of Intangibles | -6.20M | -3.15M | -804.00K | -3.44M | -188.00K | -642.00K |
| Investment in Securities | -61.91M | 8.68M | -53.98M | -9.75M | -13.92M | 12.73M |
| Other Investing Activities | -146.00K | 154.00K | ||||
| Investing Cash Flow | -110.69M | -31.49M | -77.93M | -28.64M | -32.74M | 2.96M |
| Long-Term Debt Issued | 35.26M | 83.36M | 64.78M | 51.90M | 53.21M | |
| Long-Term Debt Repaid | -21.42M | -58.99M | -61.44M | -51.05M | -55.25M | |
| Total Debt Repaid | 3.84M | -21.42M | -58.99M | -61.44M | -51.05M | -55.25M |
| Net Debt Issued (Repaid) | 15.00M | 13.84M | 24.36M | 3.34M | 851.00K | -2.04M |
| Repurchase of Common Stock | -68.00K | -2.43M | ||||
| Common Dividends Paid | -417.00K | -2.19M | ||||
| Other Financing Activities | -292.00K | -199.00K | 15.50M | 3.46M | -1.07M | |
| Financing Cash Flow | 14.29M | 11.45M | 17.36M | 6.80M | -1.58M | -3.12M |
| Foreign Exchange Rate Adjustments | 2.65M | 863.00K | -2.58M | -1.82M | -14.25M | 3.32M |
| Net Cash Flow | 16.60M | 92.46M | -53.37M | -3.76M | -548.00K | 31.44M |
| Free Cash Flow | 61.23M | 74.44M | -33.88M | 1.67M | 27.73M | 19.01M |
| Free Cash Flow Margin | 7.33% | 9.72% | -5.21% | 0.29% | 5.24% | 3.82% |
| Free Cash Flow Per Share | 2.03 | 2.47 | -1.12 | 0.06 | 0.91 | 0.62 |
| Levered Free Cash Flow | -82.99M | 40.48M | -31.66M | -13.54M | 5.39M | 17.42M |
| Unlevered Free Cash Flow | -80.08M | 41.54M | -30.53M | -12.90M | 6.30M | 18.32M |
| Cash Interest Paid | 1.70M | 1.70M | 1.79M | 1.15M | 1.49M | 1.84M |
| Cash Income Tax Paid | 20.45M | 20.45M | 18.51M | 7.96M | 4.04M | 3.40M |
| Change in Working Capital | 31.91M | 47.99M | -43.88M | -42.94M | -5.49M | -9.22M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 128.53M | 128.53M | 123.76M | 97.50M | 175.14M | 82.68M |
| Enterprise Value | 105.11M | 117.34M | 124.35M | 48.44M | 134.64M | 62.51M |
| Last Close Price | 4.26 | 4.26 | 4.10 | 2.70 | 4.84 | 2.24 |
| PE Ratio | 2.24 | 3.00 | 4.13 | 2.59 | 8.27 | 7.48 |
| Forward PE | 10.60 | 10.60 | 10.60 | 13.49 | 6.38 | |
| PS Ratio | 0.15 | 0.17 | 0.19 | 0.17 | 0.33 | 0.17 |
| PB Ratio | 0.29 | 0.28 | 0.32 | 0.27 | 0.54 | 0.24 |
| P/TBV Ratio | 0.30 | 0.33 | 0.37 | 0.29 | 0.58 | 0.27 |
| P/FCF Ratio | 2.10 | 1.73 | 58.35 | 6.32 | 4.35 | |
| P/OCF Ratio | 1.16 | 1.15 | 12.66 | 4.90 | 3.65 | 2.92 |
| EV/Sales Ratio | 0.13 | 0.15 | 0.19 | 0.08 | 0.25 | 0.13 |
| EV/EBITDA Ratio | 1.18 | 1.73 | 2.06 | 0.84 | 4.06 | 1.89 |
| EV/EBIT Ratio | 1.40 | 2.19 | 3.09 | 1.23 | 16.81 | 10.58 |
| EV/FCF Ratio | 1.72 | 1.58 | 28.99 | 4.86 | 3.29 | |
| Debt / Equity Ratio | 0.15 | 0.19 | 0.19 | 0.13 | 0.14 | 0.14 |
| Debt / EBITDA Ratio | 0.84 | 1.28 | 1.20 | 0.85 | 1.41 | 1.48 |
| Debt / FCF Ratio | 1.23 | 1.17 | 29.61 | 1.68 | 2.57 | |
| Net Debt / Equity Ratio | -0.05 | -0.20 | -0.03 | -0.21 | -0.27 | -0.25 |
| Net Debt / EBITDA Ratio | -0.26 | -1.34 | -0.19 | -1.32 | -2.63 | -2.56 |
| Net Debt / FCF Ratio | -0.38 | -1.22 | 0.35 | -45.64 | -3.15 | -4.45 |
| Asset Turnover | 0.87 | 0.83 | 0.81 | 0.78 | 0.74 | 0.70 |
| Inventory Turnover | 5.17 | 5.25 | 4.83 | 4.22 | 3.91 | 4.17 |
| Quick Ratio | 0.83 | 1.00 | 0.94 | 1.03 | 0.98 | 0.98 |
| Current Ratio | 1.45 | 1.36 | 1.32 | 1.47 | 1.43 | 1.43 |
| Return on Equity (ROE) | 14.72% | 12.35% | 10.00% | 12.28% | 6.72% | 3.26% |
| Return on Assets (ROA) | 4.90% | 3.62% | 3.11% | 3.31% | 0.70% | 0.52% |
| Return on Invested Capital (ROIC) | 13.07% | 11.89% | 10.40% | 13.17% | 2.86% | 1.67% |
| Return on Capital Employed (ROCE) | 14.50% | 11.70% | 10.20% | 10.30% | 2.30% | 1.60% |
| Earnings Yield | 44.60% | 33.33% | 24.22% | 38.62% | 12.09% | 13.36% |
| FCF Yield | 47.64% | 57.92% | -27.38% | 1.71% | 15.83% | 22.99% |
| Payout Ratio | 5.11% | |||||
| Buyback Yield / Dilution | 0.02% | 0.05% | 0.02% | 1.47% | 0.69% | 0.71% |