NASDAQ : ECX
ECARX Holdings Inc. — Financial statements
Consumer Discretionary · Auto Parts · United Kingdom
Last price 0.895 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 351.73M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
ECARX Holdings Inc. (ECX) reported revenue of 881.26M 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 | 881.26M | 847.86M | 771.53M | 662.23M | 516.44M | 437.47M |
| Cost of Revenue | 697.30M | 686.60M | 611.43M | 483.61M | 372.34M | 308.85M |
| Gross Profit | 183.96M | 161.26M | 160.10M | 178.62M | 144.10M | 128.62M |
| Selling, General & Admin | 88.99M | 96.49M | 111.36M | 134.56M | 194.46M | 95.69M |
| Research & Development | 101.36M | 117.06M | 171.46M | 173.02M | 188.74M | 190.41M |
| Other Operating Expenses | -1.14M | -1.14M | -64.00K | -762.00K | -3.03M | -32.59K |
| Operating Expenses | 189.20M | 212.40M | 282.76M | 306.81M | 380.17M | 286.06M |
| Operating Income | -5.24M | -51.14M | -122.66M | -128.19M | -236.07M | -157.44M |
| Interest Expense | -31.57M | -23.77M | -18.57M | -11.24M | -6.46M | -20.71M |
| Interest & Investment Income | 4.61M | 3.71M | 3.08M | 4.31M | 2.00M | 2.15M |
| Earnings From Equity Investments | 15.34M | 1.24M | 5.61M | -6.14M | -10.43M | -612.50K |
| Currency Exchange Gain (Loss) | -1.22M | -1.22M | -973.00K | -1.48M | -2.64M | 2.88M |
| Other Non Operating Income (Expenses) | 2.75M | 7.35M | 2.32M | 3.35M | 8.14M | -12.09M |
| EBT Excluding Unusual Items | -15.34M | -63.84M | -131.19M | -139.40M | -245.45M | -185.83M |
| Gain (Loss) on Sale of Investments | -221.00K | -221.00K | -6.11M | -3.21M | 6.22M | |
| Gain (Loss) on Sale of Assets | 10.44M | 1.67M | ||||
| Asset Writedown | -3.63M | -3.63M | -234.00K | -1.82M | ||
| Pretax Income | -19.20M | -67.69M | -137.54M | -144.42M | -228.80M | -184.16M |
| Income Tax Expense | 144.00K | 1.24M | 210.00K | -525.00K | 4.21M | 1.08M |
| Earnings From Continuing Operations | -19.34M | -68.94M | -137.75M | -143.90M | -233.01M | -185.24M |
| Minority Interest in Earnings | -504.00K | 2.90M | 7.99M | 10.58M | 6.23M | 441.24K |
| Net Income | -19.84M | -66.04M | -129.76M | -133.31M | -226.78M | -184.80M |
| Preferred Dividends & Other Adjustments | 51.45M | 38.55M | ||||
| Net Income to Common | -19.84M | -66.04M | -129.76M | -133.31M | -278.23M | -223.35M |
| Shares Outstanding (Basic) | 354.18M | 338.66M | 336.64M | 337.41M | 239.30M | 236.69M |
| Shares Outstanding (Diluted) | 354.18M | 338.66M | 336.64M | 337.41M | 239.30M | 236.69M |
| EPS (Basic) | -0.06 | -0.20 | -0.39 | -0.40 | -1.16 | -0.94 |
| EPS (Diluted) | -0.06 | -0.20 | -0.39 | -0.40 | -1.16 | -0.94 |
| Free Cash Flow | -106.56M | -75.89M | -181.32M | -89.69M | -156.32M | |
| Free Cash Flow Per Share | -0.32 | -0.23 | -0.54 | -0.38 | -0.66 | |
| Gross Margin | 20.88% | 19.02% | 20.75% | 26.97% | 27.90% | 29.40% |
| Operating Margin | -0.60% | -6.03% | -15.90% | -19.36% | -45.71% | -35.99% |
| Profit Margin | -2.25% | -7.79% | -16.82% | -20.13% | -53.87% | -51.05% |
| Free Cash Flow Margin | -12.57% | -9.84% | -27.38% | -17.37% | -35.73% | |
| EBITDA | 13.43M | -31.27M | -102.09M | -116.08M | -225.26M | -150.63M |
| EBITDA Margin | 1.52% | -3.69% | -13.23% | -17.53% | -43.62% | -34.43% |
| D&A For EBITDA | 18.67M | 19.87M | 20.57M | 12.11M | 10.81M | 6.81M |
| EBIT | -5.24M | -51.14M | -122.66M | -128.19M | -236.07M | -157.44M |
| EBIT Margin | -0.60% | -6.03% | -15.90% | -19.36% | -45.71% | -35.99% |
| Revenue as Reported | 881.26M | 847.86M | 771.53M | 662.23M | 516.44M | 437.47M |
| Advertising Expenses | 4.31M | 4.25M | 2.49M | 1.71M | 2.15M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 156.20M | 87.12M | 44.25M | 80.63M | 124.76M | 152.08M |
| Short-Term Investments | 46.70M | 31.16M | 17.88M | 19.44M | ||
| Cash & Short-Term Investments | 202.90M | 118.28M | 62.13M | 100.08M | 124.76M | 152.08M |
| Accounts Receivable | 251.00M | 206.30M | 219.68M | 269.80M | 207.72M | 171.74M |
| Other Receivables | 45.80M | 53.74M | 22.95M | 10.45M | 132.19M | 6.50M |
| Receivables | 296.80M | 260.04M | 242.63M | 280.26M | 339.91M | 178.24M |
| Inventory | 126.20M | 62.34M | 31.86M | 22.67M | 26.47M | 35.15M |
| Prepaid Expenses | 61.90M | 1.20M | ||||
| Restricted Cash | 9.30M | 6.14M | 5.91M | 3.83M | 5.94M | 3.62M |
| Other Current Assets | 36.38M | 43.58M | 62.54M | 61.61M | 37.75M | |
| Total Current Assets | 697.10M | 483.18M | 386.13M | 469.38M | 558.68M | 408.05M |
| Property, Plant & Equipment | 46.10M | 43.48M | 40.06M | 34.69M | 34.69M | 17.28M |
| Long-Term Investments | 61.60M | 61.50M | 2.16M | 42.45M | 51.30M | 181.45M |
| Goodwill | 3.80M | 3.69M | 3.50M | |||
| Other Intangible Assets | 43.60M | 40.38M | 42.20M | 25.29M | 6.50M | 4.90M |
| Other Long-Term Assets | 133.80M | 30.19M | 40.28M | 35.62M | 34.76M | 3.44M |
| Total Assets | 986.00M | 662.41M | 514.34M | 607.43M | 685.94M | 615.12M |
| Accounts Payable | 318.30M | 316.55M | 309.62M | 302.28M | 269.00M | 139.91M |
| Accrued Expenses | 79.30M | 46.94M | 36.67M | 50.59M | 50.64M | 42.54M |
| Short-Term Debt | 28.71M | 207.58M | 169.23M | 126.14M | 146.71M | |
| Current Portion of Long-Term Debt | 469.50M | 349.48M | 64.47M | |||
| Current Portion of Leases | 5.00M | 4.98M | 5.61M | 4.95M | 4.51M | |
| Current Income Taxes Payable | 1.00M | 1.02M | 2.79M | 2.23M | 3.13M | |
| Current Unearned Revenue | 3.90M | 8.30M | 22.16M | 29.28M | 46.59M | 57.61M |
| Other Current Liabilities | 91.50M | 67.02M | 49.74M | 41.11M | 69.41M | 46.88M |
| Total Current Liabilities | 968.50M | 823.00M | 698.65M | 599.67M | 569.43M | 433.66M |
| Long-Term Debt | 213.40M | 65.87M | 64.27M | 63.78M | ||
| Long-Term Leases | 12.80M | 15.70M | 16.70M | 15.18M | 9.97M | |
| Long-Term Unearned Revenue | 20.68M | 18.44M | 25.78M | 40.91M | 74.47M | |
| Long-Term Deferred Tax Liabilities | 1.70M | 1.70M | 2.07M | |||
| Other Long-Term Liabilities | 40.70M | 18.93M | 16.19M | 19.82M | 6.85M | 2.56M |
| Total Liabilities | 1.24B | 945.88M | 752.05M | 724.71M | 690.93M | 510.69M |
| Common Stock | 2.00K | 2.00K | 1.41K | 1.45K | 1.10K | |
| Additional Paid-In Capital | 1.02B | 958.05M | 895.01M | 859.79M | 858.27M | |
| Retained Earnings | -1.21B | -1.19B | -1.12B | -940.74M | -830.80M | -645.94M |
| Treasury Stock | -39.90M | -30.00M | -1.02M | |||
| Comprehensive Income & Other | -31.10M | -20.22M | -9.21M | -48.59M | -55.95M | 952.05K |
| Total Common Equity | -264.80M | -282.66M | -239.67M | -129.54M | -28.47M | -644.98M |
| Minority Interest | 13.70M | -811.00K | 1.97M | 12.26M | 23.48M | 35.86M |
| Shareholders' Equity | -251.10M | -283.48M | -237.70M | -117.28M | -5.00M | 104.42M |
| Total Liabilities & Equity | 986.00M | 662.41M | 514.34M | 607.43M | 685.94M | 615.12M |
| Total Debt | 700.70M | 464.74M | 294.36M | 253.62M | 204.39M | 146.71M |
| Net Cash (Debt) | -497.80M | -346.47M | -232.23M | -153.55M | -79.64M | 5.37M |
| Net Cash Per Share | -1.41 | -1.02 | -0.69 | -0.46 | -0.33 | 0.02 |
| Filing Date Shares Outstanding | 372.31M | 381.06M | 345.73M | 338.07M | 337.40M | 193.84M |
| Total Common Shares Outstanding | 372.31M | 356.47M | 340.13M | 337.95M | 337.40M | 193.84M |
| Working Capital | -271.40M | -339.83M | -312.52M | -130.29M | -10.74M | -25.61M |
| Book Value Per Share | -0.71 | -0.79 | -0.70 | -0.38 | -0.08 | -3.33 |
| Tangible Book Value | -312.20M | -326.73M | -285.38M | -154.84M | -34.98M | -649.88M |
| Tangible Book Value Per Share | -0.84 | -0.92 | -0.84 | -0.46 | -0.10 | -3.35 |
| Machinery | 53.73M | 42.98M | 31.60M | 28.95M | 27.70M | |
| Construction In Progress | 420.00K | 2.01M | 1.12M | 48.13K | 1.65M | |
| Leasehold Improvements | 8.92M | 7.46M | 6.31M | 6.30M | 6.17M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -66.04M | -129.76M | -133.31M | -226.78M | -184.80M | |
| Depreciation & Amortization | 19.87M | 20.57M | 12.11M | 10.81M | 6.81M | |
| Other Amortization | 19.17M | |||||
| Loss (Gain) From Sale of Assets | 437.00K | -64.00K | 247.00K | -10.15M | -1.42M | |
| Asset Writedown & Restructuring Costs | 7.93M | 6.07M | 6.93M | 6.09M | ||
| Loss (Gain) From Sale of Investments | 221.00K | 6.11M | 3.21M | -6.22M | ||
| Loss (Gain) on Equity Investments | -344.00K | -5.61M | 6.14M | 10.43M | 612.50K | |
| Stock-Based Compensation | 13.34M | 19.06M | 24.87M | 105.21M | 28.32M | |
| Provision & Write-off of Bad Debts | -1.21M | 1.81M | 1.06M | 998.52K | ||
| Other Operating Activities | -2.23M | -5.45M | -4.88M | -639.25K | 23.42M | |
| Change in Accounts Receivable | 13.20M | 46.19M | -80.38M | -44.53M | -22.25M | |
| Change in Inventory | -31.93M | -9.26M | 2.38M | 774.37K | -16.62M | |
| Change in Accounts Payable | 14.35M | -12.28M | 48.01M | 134.18M | -31.40M | |
| Change in Unearned Revenue | -19.00M | -21.64M | -39.51M | -34.15M | 54.95M | |
| Change in Other Net Operating Assets | -42.99M | 24.27M | -19.32M | -12.90M | -19.63M | |
| Operating Cash Flow | -94.39M | -59.98M | -172.44M | -66.89M | -142.82M | |
| Capital Expenditures | -12.17M | -15.91M | -8.88M | -22.80M | -13.50M | |
| Sale of Property, Plant & Equipment | 1.01M | 220.00K | 305.00K | 251.12K | ||
| Cash Acquisitions | -7.83M | |||||
| Divestitures | 115.00M | -3.14M | -1.32M | |||
| Investment in Securities | -53.78M | 14.45M | -19.11M | -15.65M | -180.34M | |
| Other Investing Activities | -5.54M | 951.00K | -45.00K | -4.05M | 6.53M | |
| Investing Cash Flow | -70.48M | -8.12M | 87.27M | -45.39M | -188.62M | |
| Short-Term Debt Issued | 517.04M | 305.81M | 253.25M | 285.62M | 156.18M | |
| Long-Term Debt Issued | 113.97M | 76.45M | ||||
| Total Debt Issued | 631.02M | 305.81M | 253.25M | 362.07M | 156.18M | |
| Short-Term Debt Repaid | -370.62M | -263.91M | -207.69M | -294.61M | -24.58M | |
| Long-Term Debt Repaid | -65.00M | -177.14M | ||||
| Total Debt Repaid | -435.62M | -263.91M | -207.69M | -294.61M | -201.72M | |
| Net Debt Issued (Repaid) | 195.40M | 41.90M | 45.55M | 67.46M | -45.54M | |
| Issuance of Common Stock | 43.46M | 6.34M | ||||
| Repurchase of Common Stock | -28.98M | -3.00M | ||||
| Other Financing Activities | -6.01M | -2.54M | -4.94M | -1.55M | -127.52M | |
| Financing Cash Flow | 203.86M | 36.35M | 40.62M | 95.37M | 334.16M | |
| Foreign Exchange Rate Adjustments | 4.10M | -2.18M | -2.03M | 4.19M | -5.04M | |
| Net Cash Flow | 43.09M | -33.93M | -46.59M | -12.72M | -2.32M | |
| Free Cash Flow | -106.56M | -75.89M | -181.32M | -89.69M | -156.32M | |
| Free Cash Flow Margin | -12.57% | -9.84% | -27.38% | -17.37% | -35.73% | |
| Free Cash Flow Per Share | -0.32 | -0.23 | -0.54 | -0.38 | -0.66 | |
| Levered Free Cash Flow | -47.83M | -23.75M | -7.58M | -82.05M | -235.35M | |
| Unlevered Free Cash Flow | -32.98M | -12.15M | -559.50K | -78.01M | -238.13M | |
| Cash Interest Paid | 23.28M | 15.55M | 9.01M | 4.19M | 4.56M | |
| Cash Income Tax Paid | 3.22M | 1.77M | 280.00K | 1.98M | ||
| Change in Working Capital | -66.37M | 27.29M | -88.81M | 43.37M | -34.94M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 351.73M | 601.64M | 724.00M | 1.07B | 2.70B | 366.00M |
| Enterprise Value | 849.53M | 901.64M | 935.12M | 1.23B | 3.54B | |
| Last Close Price | 0.90 | 1.72 | 2.11 | 3.16 | 7.99 | 9.76 |
| Forward PE | 25.94 | 26.92 | ||||
| PS Ratio | 0.40 | 0.71 | 0.94 | 1.61 | 5.22 | 0.84 |
| PB Ratio | -2.12 | -3.05 | -9.09 | -539.63 | 3.50 | |
| EV/Sales Ratio | 0.96 | 1.06 | 1.21 | 1.86 | 6.86 | |
| Debt / Equity Ratio | -2.79 | -1.64 | -1.24 | -2.16 | -40.91 | 1.41 |
| Net Debt / Equity Ratio | -1.98 | -1.22 | -0.98 | -1.31 | -15.94 | -0.05 |
| Net Debt / EBITDA Ratio | 37.07 | -11.08 | -2.27 | -1.32 | -0.35 | 0.04 |
| Net Debt / FCF Ratio | -3.25 | -3.06 | -0.85 | -0.89 | 0.03 | |
| Asset Turnover | 1.19 | 1.44 | 1.38 | 1.04 | 0.82 | 0.86 |
| Inventory Turnover | 8.65 | 14.58 | 22.42 | 19.98 | 12.65 | 8.58 |
| Quick Ratio | 0.52 | 0.46 | 0.44 | 0.63 | 0.82 | 0.76 |
| Current Ratio | 0.72 | 0.59 | 0.55 | 0.78 | 0.98 | 0.94 |
| Return on Equity (ROE) | -511.09% | |||||
| Return on Assets (ROA) | -0.44% | -5.43% | -13.67% | -12.57% | -23.56% | -19.28% |
| Return on Capital Employed (ROCE) | -29.90% | 31.80% | 66.60% | -1,652.90% | -202.60% | -86.80% |
| Earnings Yield | -6.53% | -10.98% | -17.92% | -12.50% | -8.41% | -50.49% |
| FCF Yield | -45.10% | -17.71% | -10.48% | -17.01% | -3.33% | -42.71% |
| Buyback Yield / Dilution | -5.32% | -0.60% | 0.23% | -41.00% | -1.10% | 0.80% |