NASDAQ : GTEC
Greenland Technologies Holding Corporation — Financial statements
Consumer Discretionary · Auto Parts · United States
Last price 0.68 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 18.05M
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Financial statements
Greenland Technologies Holding Corporation (GTEC) reported revenue of 102.71M 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 | 102.71M | 90.69M | 83.94M | 90.33M | 90.83M | 98.84M |
| Cost of Revenue | 68.38M | 62.25M | 61.41M | 65.76M | 71.00M | 79.25M |
| Gross Profit | 34.33M | 28.45M | 22.53M | 24.58M | 19.83M | 19.59M |
| Selling, General & Admin | 12.38M | 17.00M | 7.00M | 8.37M | 8.09M | 5.82M |
| Research & Development | 5.22M | 3.92M | 2.94M | 5.42M | 5.79M | 5.53M |
| Operating Expenses | 17.60M | 20.92M | 9.94M | 48.26M | 13.88M | 11.34M |
| Operating Income | 16.74M | 7.52M | 12.59M | -23.68M | 5.96M | 8.25M |
| Interest Expense | -155.50K | -111.66K | -84.24K | -250.41K | -402.97K | -587.26K |
| Interest & Investment Income | 761.86K | 677.39K | 864.39K | 143.09K | 56.82K | 68.30K |
| Currency Exchange Gain (Loss) | -2.49M | |||||
| Other Non Operating Income (Expenses) | 4.17M | 4.03M | 3.29M | 3.30M | -1.11M | 1.38M |
| EBT Excluding Unusual Items | 21.52M | 12.11M | 16.66M | -22.98M | 4.50M | 9.11M |
| Gain (Loss) on Sale of Investments | -300.00K | |||||
| Gain (Loss) on Sale of Assets | -4.00K | -4.00K | 5.86K | -31.07K | -1.51K | 1.78K |
| Pretax Income | 21.51M | 12.11M | 16.67M | -23.31M | 4.50M | 9.11M |
| Income Tax Expense | 4.03M | 3.51M | 1.51M | 1.71M | 699.69K | 1.84M |
| Earnings From Continuing Operations | 17.49M | 8.60M | 15.15M | -25.02M | 3.80M | 7.27M |
| Minority Interest in Earnings | -4.83M | -3.67M | -1.09M | 9.14M | -3.06M | -1.00M |
| Net Income | 12.66M | 4.93M | 14.07M | -15.88M | 745.55K | 6.27M |
| Net Income to Common | 12.66M | 4.93M | 14.07M | -15.88M | 745.55K | 6.27M |
| Shares Outstanding (Basic) | 26.54M | 17.39M | 13.59M | 13.23M | 11.89M | 10.84M |
| Shares Outstanding (Diluted) | 26.54M | 17.39M | 13.59M | 13.23M | 11.89M | 10.84M |
| EPS (Basic) | 0.48 | 0.28 | 1.03 | -1.20 | 0.06 | 0.58 |
| EPS (Diluted) | 0.48 | 0.28 | 1.03 | -1.20 | 0.06 | 0.58 |
| Free Cash Flow | 14.44M | 15.08M | 11.38M | 1.71M | 6.79M | -6.65M |
| Free Cash Flow Per Share | 0.54 | 0.87 | 0.84 | 0.13 | 0.57 | -0.61 |
| Gross Margin | 33.43% | 31.36% | 26.84% | 27.21% | 21.84% | 19.82% |
| Operating Margin | 16.30% | 8.29% | 15.00% | -26.22% | 6.56% | 8.35% |
| Profit Margin | 12.32% | 5.44% | 16.76% | -17.58% | 0.82% | 6.34% |
| Free Cash Flow Margin | 14.06% | 16.63% | 13.55% | 1.90% | 7.47% | -6.73% |
| EBITDA | 19.16M | 9.93M | 14.84M | -21.49M | 8.39M | 10.76M |
| EBITDA Margin | 18.65% | 10.95% | 17.68% | -23.79% | 9.24% | 10.89% |
| D&A For EBITDA | 2.42M | 2.41M | 2.25M | 2.19M | 2.44M | 2.51M |
| EBIT | 16.74M | 7.52M | 12.59M | -23.68M | 5.96M | 8.25M |
| EBIT Margin | 16.30% | 8.29% | 15.00% | -26.22% | 6.56% | 8.35% |
| Effective Tax Rate | 18.71% | 29.00% | 9.08% | 15.54% | 20.23% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.98M | 7.78M | 6.66M | 22.98M | 16.30M | 11.06M |
| Short-Term Investments | 26.43M | 27.42M | 18.54M | 2.82M | 7.80M | 2.11M |
| Cash & Short-Term Investments | 35.41M | 35.20M | 25.19M | 25.80M | 24.10M | 13.17M |
| Accounts Receivable | 52.62M | 31.96M | 38.53M | 43.62M | 43.09M | 53.47M |
| Other Receivables | 30.21M | 39.68M | ||||
| Receivables | 53.11M | 33.05M | 38.77M | 43.84M | 73.30M | 93.15M |
| Inventory | 24.71M | 24.46M | 25.19M | 24.89M | 23.51M | 26.24M |
| Prepaid Expenses | 12.54M | 2.47M | 1.54M | 53.20K | 1.57M | 14.52K |
| Restricted Cash | 71.54K | 1.95M | 5.21M | 3.43M | 6.74M | |
| Other Current Assets | 21.40K | 21.40K | ||||
| Total Current Assets | 125.80M | 95.27M | 92.65M | 99.79M | 125.91M | 139.31M |
| Property, Plant & Equipment | 12.64M | 11.89M | 14.76M | 15.82M | 18.21M | 19.04M |
| Long-Term Investments | 4.60M | 4.42M | 4.13M | 9.92M | 250.00K | |
| Goodwill | 3.89K | |||||
| Other Intangible Assets | 3.42M | 3.39M | 3.36M | 3.64M | 3.79M | 4.04M |
| Long-Term Deferred Tax Assets | 460.30K | 446.61K | 426.49K | 256.56K | 219.21K | 141.62K |
| Other Long-Term Assets | 607.98K | 355.76K | 247.66K | 1.05M | 6.74M | 44.09K |
| Total Assets | 147.53M | 115.77M | 115.58M | 130.48M | 155.12M | 162.57M |
| Accounts Payable | 55.30M | 38.36M | 42.47M | 61.99M | 53.15M | 71.57M |
| Accrued Expenses | 1.99M | 2.69M | 3.15M | 1.98M | 1.46M | 1.15M |
| Short-Term Debt | 16.00K | 110.44K | 94.44K | 3.14M | 10.61M | 11.97M |
| Current Portion of Leases | 516.67K | 487.69K | 472.18K | 231.22K | ||
| Current Income Taxes Payable | 532.52K | 1.62M | 1.20M | 758.31K | 192.48K | 108.06K |
| Current Unearned Revenue | 96.93K | 93.70K | 328.87K | |||
| Other Current Liabilities | 5.81M | 5.41M | 9.78M | 4.18M | 318.52K | 435.11K |
| Total Current Liabilities | 63.74M | 48.30M | 57.54M | 72.52M | 66.21M | 85.46M |
| Long-Term Leases | 1.17M | 1.68M | 2.18M | 47.61K | ||
| Long-Term Unearned Revenue | 875.11K | 1.08M | 1.26M | 1.53M | ||
| Other Long-Term Liabilities | 18.90K | 70.91K | 2.34M | 4.08M | 7.30M | 2.21M |
| Total Liabilities | 64.63M | 49.45M | 62.31M | 79.82M | 75.68M | 87.72M |
| Additional Paid-In Capital | 38.60M | 33.02M | 27.47M | 30.29M | 30.29M | 23.76M |
| Retained Earnings | 49.88M | 41.38M | 36.44M | 22.38M | 38.26M | 37.51M |
| Comprehensive Income & Other | 248.45K | -1.45M | -3.71M | -2.58M | -2.83M | 1.01M |
| Total Common Equity | 88.73M | 72.94M | 60.21M | 50.08M | 65.71M | 62.28M |
| Minority Interest | -5.84M | -6.62M | -6.94M | 573.17K | 13.72M | 12.56M |
| Shareholders' Equity | 82.89M | 66.32M | 53.27M | 50.65M | 79.43M | 74.84M |
| Total Liabilities & Equity | 147.53M | 115.77M | 115.58M | 130.48M | 155.12M | 162.57M |
| Total Debt | 16.00K | 110.44K | 1.78M | 5.31M | 13.26M | 12.25M |
| Net Cash (Debt) | 35.39M | 35.09M | 23.42M | 20.49M | 10.84M | 922.00K |
| Net Cash Per Share | 1.33 | 2.02 | 1.72 | 1.55 | 0.91 | 0.09 |
| Filing Date Shares Outstanding | 26.54M | 25.04M | 13.59M | 13.59M | 12.98M | 11.33M |
| Total Common Shares Outstanding | 26.54M | 17.39M | 13.59M | 13.59M | 12.98M | 11.33M |
| Working Capital | 62.06M | 46.97M | 35.11M | 27.27M | 59.70M | 53.84M |
| Book Value Per Share | 3.34 | 4.19 | 4.43 | 3.68 | 5.06 | 5.50 |
| Tangible Book Value | 85.31M | 69.55M | 56.85M | 46.44M | 61.93M | 58.25M |
| Tangible Book Value Per Share | 3.21 | 4.00 | 4.18 | 3.42 | 4.77 | 5.14 |
| Buildings | 11.98M | 11.62M | 11.13M | 11.44M | 11.78M | 12.75M |
| Machinery | 26.08M | 24.10M | 22.79M | 21.56M | 21.55M | 22.48M |
| Construction In Progress | 5.89K | 22.64K | 17.08K | 407.20K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 12.66M | 4.93M | 14.07M | -15.88M | 745.55K | 6.27M |
| Depreciation & Amortization | 2.42M | 2.41M | 2.25M | 2.19M | 2.44M | 2.51M |
| Loss (Gain) From Sale of Assets | 4.00K | 4.00K | -5.86K | 31.07K | 1.51K | -1.78K |
| Loss (Gain) From Sale of Investments | 325.32K | |||||
| Stock-Based Compensation | -1.41M | 5.55M | ||||
| Provision & Write-off of Bad Debts | 56.33K | 15.60K | -856.31K | 127.65K | -32.32K | -149.17K |
| Other Operating Activities | 5.77M | 3.67M | 1.40M | 24.68M | 6.14M | 1.05M |
| Change in Accounts Receivable | -8.30M | -1.69M | 1.11M | -2.69M | 406.96K | -3.03M |
| Change in Inventory | 1.65M | 674.00K | -834.26K | -2.28M | 389.80K | -9.95M |
| Change in Accounts Payable | 3.95M | 1.45M | -1.52M | 1.16M | -2.08M | 6.46M |
| Change in Unearned Revenue | -273.31K | -239.98K | 195.04K | |||
| Change in Income Taxes | -1.13M | 374.90K | 469.76K | 572.86K | 94.63K | 106.89K |
| Change in Other Net Operating Assets | 759.19K | -1.54M | -2.93M | -5.79M | -789.22K | -9.03M |
| Operating Cash Flow | 16.16M | 15.61M | 13.34M | 2.45M | 7.31M | -5.76M |
| Capital Expenditures | -1.72M | -525.72K | -1.96M | -735.50K | -525.13K | -897.38K |
| Sale of Property, Plant & Equipment | 23.52K | 23.52K | 96.03K | 3.57K | ||
| Investment in Securities | 394.15K | -250.00K | ||||
| Other Investing Activities | 808.82K | 254.84K | ||||
| Investing Cash Flow | -10.99M | -919.59K | -1.87M | 1.07M | 33.69K | -638.98K |
| Short-Term Debt Issued | 271.00K | 5.56M | 15.99M | 11.98M | 24.50M | |
| Long-Term Debt Issued | 155.22K | |||||
| Total Debt Issued | 7.90M | 271.00K | 5.56M | 15.99M | 11.98M | 24.66M |
| Short-Term Debt Repaid | -13.66M | -25.14M | -12.42M | -23.79M | -22.77M | |
| Long-Term Debt Repaid | -1.67M | -1.09M | ||||
| Total Debt Repaid | -11.08M | -13.66M | -25.14M | -12.42M | -25.46M | -23.86M |
| Net Debt Issued (Repaid) | -3.18M | -13.39M | -19.58M | 3.57M | -13.48M | 800.58K |
| Issuance of Common Stock | 5.58M | 9.20M | 8.28M | |||
| Other Financing Activities | -3.49M | -2.22M | -11.32M | -703.60K | 5.39M | |
| Financing Cash Flow | -1.09M | -15.61M | -30.90M | 2.87M | -4.28M | 14.46M |
| Foreign Exchange Rate Adjustments | -171.07K | 155.27K | -150.31K | 2.07M | -1.13M | 329.78K |
| Net Cash Flow | 3.91M | -764.92K | -19.58M | 8.46M | 1.93M | 8.40M |
| Free Cash Flow | 14.44M | 15.08M | 11.38M | 1.71M | 6.79M | -6.65M |
| Free Cash Flow Margin | 14.06% | 16.63% | 13.55% | 1.90% | 7.47% | -6.73% |
| Free Cash Flow Per Share | 0.54 | 0.87 | 0.84 | 0.13 | 0.57 | -0.61 |
| Levered Free Cash Flow | -642.53K | 10.71M | 2.67M | 28.09M | 11.57M | 1.75M |
| Unlevered Free Cash Flow | -545.35K | 10.77M | 2.72M | 28.25M | 11.82M | 2.11M |
| Cash Interest Paid | 31.79K | 48.44K | 277.16K | 405.17K | 637.97K | |
| Cash Income Tax Paid | 4.76M | 3.09M | 1.59M | 977.99K | 695.32K | 1.63M |
| Change in Working Capital | -3.34M | -970.29K | -3.51M | -9.03M | -1.98M | -15.43M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.40M | 10.66M | 26.37M | 37.93M | 27.42M | 72.85M |
| Enterprise Value | -20.00M | -26.55M | 7.76M | 36.78M | 29.84M | 84.88M |
| Last Close Price | 0.65 | 0.61 | 1.94 | 2.79 | 2.18 | 6.43 |
| PE Ratio | 1.22 | 2.16 | 1.88 | 36.78 | 11.63 | |
| Forward PE | 1.08 | 4.33 | 25.36 | 3.89 | 9.35 | |
| PS Ratio | 0.15 | 0.12 | 0.31 | 0.42 | 0.30 | 0.74 |
| PB Ratio | 0.19 | 0.16 | 0.49 | 0.75 | 0.34 | 0.97 |
| P/TBV Ratio | 0.18 | 0.15 | 0.46 | 0.82 | 0.44 | 1.25 |
| P/FCF Ratio | 1.07 | 0.71 | 2.32 | 22.14 | 4.04 | |
| P/OCF Ratio | 0.95 | 0.68 | 1.98 | 15.49 | 3.75 | |
| EV/Sales Ratio | 0.09 | 0.41 | 0.33 | 0.86 | ||
| EV/EBITDA Ratio | 0.52 | 3.55 | 7.89 | |||
| EV/EBIT Ratio | 0.62 | 5.01 | 10.29 | |||
| EV/FCF Ratio | 0.68 | 21.46 | 4.40 | |||
| Debt / Equity Ratio | 0.00 | 0.00 | 0.03 | 0.10 | 0.17 | 0.16 |
| Debt / EBITDA Ratio | 0.00 | 0.01 | 0.12 | 1.52 | 1.14 | |
| Debt / FCF Ratio | 0.00 | 0.01 | 0.16 | 3.10 | 1.95 | |
| Net Debt / Equity Ratio | -0.43 | -0.53 | -0.44 | -0.41 | -0.14 | -0.01 |
| Net Debt / EBITDA Ratio | -1.85 | -3.53 | -1.58 | 0.95 | -1.29 | -0.09 |
| Net Debt / FCF Ratio | -2.45 | -2.33 | -2.06 | -11.96 | -1.60 | 0.14 |
| Asset Turnover | 0.76 | 0.78 | 0.68 | 0.63 | 0.57 | 0.67 |
| Inventory Turnover | 2.70 | 2.51 | 2.45 | 2.72 | 2.85 | 3.77 |
| Quick Ratio | 1.38 | 1.39 | 1.11 | 0.96 | 1.47 | 1.24 |
| Current Ratio | 1.97 | 1.97 | 1.61 | 1.38 | 1.90 | 1.63 |
| Return on Equity (ROE) | 23.94% | 14.38% | 29.16% | -38.46% | 4.93% | 11.58% |
| Return on Assets (ROA) | 7.72% | 4.06% | 6.40% | -10.37% | 2.34% | 3.50% |
| Return on Invested Capital (ROIC) | 29.18% | 17.49% | 38.16% | -47.96% | 7.06% | 9.13% |
| Return on Capital Employed (ROCE) | 20.00% | 11.10% | 21.70% | -40.90% | 6.70% | 10.70% |
| Earnings Yield | 82.12% | 46.26% | 53.34% | -41.87% | 2.72% | 8.60% |
| FCF Yield | 93.60% | 141.48% | 43.14% | 4.52% | 24.75% | -9.13% |
| Buyback Yield / Dilution | -86.47% | -27.95% | -2.76% | -11.30% | -9.65% | -8.00% |