NASDAQ : ICG
Intchains Group Limited — Financial statements
Technology · Semiconductors · China
Last price 1.26 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 77.10M
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Financial statements
Intchains Group Limited (ICG) reported revenue of 56.41M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 56.41M | 220.86M | 281.77M | 82.22M | 473.74M | 631.84M |
| Cost of Revenue | 137.02M | 204.90M | 130.45M | 73.15M | 87.02M | 113.95M |
| Gross Profit | -80.61M | 15.96M | 151.31M | 9.08M | 386.72M | 517.88M |
| Selling, General & Admin | 39.67M | 43.27M | 38.72M | 31.74M | 15.63M | 17.41M |
| Research & Development | 58.06M | 77.30M | 109.44M | 42.30M | 48.39M | 53.15M |
| Operating Expenses | 97.73M | 120.56M | 148.16M | 74.05M | 64.01M | 70.56M |
| Operating Income | -178.34M | -104.60M | 3.16M | -64.97M | 322.70M | 447.32M |
| Interest Expense | -40.00K | -40.00K | -56.00K | -62.00K | -73.00K | -197.00K |
| Interest & Investment Income | 8.41M | 11.01M | 16.23M | 16.75M | 11.13M | 2.52M |
| Currency Exchange Gain (Loss) | -7.00M | -3.36M | 1.38M | -524.00K | 3.49M | -238.00K |
| Other Non Operating Income (Expenses) | -44.59M | 12.62M | 28.99M | 13.08M | 29.80M | 740.00K |
| EBT Excluding Unusual Items | -221.56M | -84.37M | 49.71M | -35.73M | 367.06M | 450.14M |
| Gain (Loss) on Sale of Investments | 588.00K | 588.00K | 680.00K | 174.00K | ||
| Asset Writedown | -74.00K | -74.00K | -210.00K | |||
| Pretax Income | -221.04M | -83.86M | 50.18M | -35.55M | 367.06M | 450.14M |
| Income Tax Expense | -20.34M | -36.32M | -1.32M | -8.76M | 11.86M | |
| Net Income | -200.70M | -47.53M | 51.50M | -26.80M | 355.20M | 450.14M |
| Net Income to Common | -200.70M | -47.53M | 51.50M | -26.80M | 355.20M | 450.14M |
| Shares Outstanding (Basic) | 60.80M | 60.46M | 59.97M | 59.69M | 58.82M | 50.44M |
| Shares Outstanding (Diluted) | 60.80M | 60.46M | 60.01M | 59.69M | 58.82M | 50.44M |
| EPS (Basic) | -3.30 | -0.79 | 0.86 | -0.45 | 6.04 | 8.93 |
| EPS (Diluted) | -3.30 | -0.79 | 0.86 | -0.45 | 6.04 | 8.92 |
| Free Cash Flow | -98.63M | -148.33M | -52.17M | 209.81M | 393.65M | |
| Free Cash Flow Per Share | -1.63 | -2.47 | -0.87 | 3.57 | 7.80 | |
| Gross Margin | -142.91% | 7.23% | 53.70% | 11.04% | 81.63% | 81.97% |
| Operating Margin | -316.16% | -47.36% | 1.12% | -79.01% | 68.12% | 70.80% |
| Profit Margin | -355.81% | -21.52% | 18.28% | -32.59% | 74.98% | 71.24% |
| Free Cash Flow Margin | -44.66% | -52.64% | -63.45% | 44.29% | 62.30% | |
| EBITDA | -170.61M | -97.79M | 8.14M | -61.14M | 324.51M | 447.87M |
| EBITDA Margin | -44.27% | 2.89% | -74.35% | 68.50% | 70.88% | |
| D&A For EBITDA | 7.73M | 6.82M | 4.98M | 3.83M | 1.81M | 553.00K |
| EBIT | -178.34M | -104.60M | 3.16M | -64.97M | 322.70M | 447.32M |
| EBIT Margin | -47.36% | 1.12% | -79.01% | 68.12% | 70.80% | |
| Effective Tax Rate | 3.23% | |||||
| Advertising Expenses | 898.00K | 342.00K |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 306.71M | 221.66M | 322.25M | 585.17M | 712.23M | 502.42M |
| Short-Term Investments | 154.41M | 267.53M | 198.56M | 103.17M | ||
| Cash & Short-Term Investments | 461.12M | 489.19M | 520.81M | 688.35M | 712.23M | 502.42M |
| Other Receivables | 884.00K | 2.43M | 9.84M | 1.20M | ||
| Receivables | 884.00K | 2.43M | 9.84M | 1.20M | ||
| Inventory | 33.82M | 52.15M | 98.61M | 41.77M | 77.78M | 66.82M |
| Other Current Assets | 56.01M | 60.88M | 99.04M | 37.56M | 40.77M | 38.12M |
| Total Current Assets | 550.96M | 603.11M | 720.90M | 777.52M | 831.98M | 607.36M |
| Property, Plant & Equipment | 138.81M | 142.68M | 157.34M | 50.92M | 8.29M | 3.90M |
| Long-Term Investments | 386.00K | 20.57M | 20.00M | |||
| Other Intangible Assets | 10.73M | 11.97M | 3.55M | 3.42M | ||
| Long-Term Deferred Tax Assets | 55.21M | 65.80M | 28.94M | 12.90M | ||
| Other Long-Term Assets | 107.21M | 195.95M | 158.21M | 114.49M | 112.86M | |
| Total Assets | 862.92M | 1.02B | 1.09B | 979.25M | 953.13M | 611.26M |
| Accounts Payable | 204.00K | 3.02M | 14.85M | 195.00K | 2.90M | 6.58M |
| Accrued Expenses | 17.54M | 11.14M | 14.75M | 12.14M | 3.97M | 12.32M |
| Current Portion of Leases | 91.00K | 542.00K | 272.00K | 1.10M | 972.00K | 934.00K |
| Current Income Taxes Payable | 39.00K | 2.02M | 1.63M | 2.24M | ||
| Current Unearned Revenue | 16.12M | 16.46M | 37.45M | 9.83M | 6.00K | 5.52M |
| Other Current Liabilities | 2.00K | 11.58M | 7.10M | 3.27M | 9.11M | 6.23M |
| Total Current Liabilities | 33.96M | 42.79M | 76.44M | 28.16M | 19.20M | 31.60M |
| Long-Term Leases | 558.00K | 761.00K | 294.00K | 1.27M | ||
| Long-Term Deferred Tax Liabilities | 42.00K | |||||
| Total Liabilities | 33.96M | 43.35M | 76.44M | 28.93M | 19.53M | 32.86M |
| Common Stock | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 216.87M | 211.28M | 195.24M | 186.26M | 144.58M | 144.58M |
| Retained Earnings | 617.61M | 766.52M | 814.05M | 762.23M | 789.02M | 433.82M |
| Comprehensive Income & Other | -5.51M | -1.25M | 3.78M | 1.84M | -1.00K | -1.00K |
| Shareholders' Equity | 828.96M | 976.55M | 1.01B | 950.33M | 933.60M | 578.40M |
| Total Liabilities & Equity | 862.92M | 1.02B | 1.09B | 979.25M | 953.13M | 611.26M |
| Total Debt | 91.00K | 1.10M | 272.00K | 1.86M | 1.27M | 2.20M |
| Net Cash (Debt) | 461.03M | 488.09M | 520.54M | 686.48M | 710.97M | 500.22M |
| Net Cash Per Share | 7.58 | 8.07 | 8.67 | 11.50 | 12.09 | 9.92 |
| Filing Date Shares Outstanding | 61.19M | 60.71M | 60.01M | 59.94M | 58.82M | 58.82M |
| Total Common Shares Outstanding | 61.19M | 60.71M | 60.01M | 59.94M | 58.82M | 58.82M |
| Working Capital | 517.00M | 560.32M | 644.46M | 749.35M | 812.78M | 575.76M |
| Book Value Per Share | 13.55 | 16.09 | 16.88 | 15.86 | 15.87 | 9.83 |
| Tangible Book Value | 818.23M | 964.58M | 1.01B | 946.90M | 933.60M | 578.40M |
| Tangible Book Value Per Share | 13.37 | 15.89 | 16.82 | 15.80 | 15.87 | 9.83 |
| Buildings | 138.68M | 43.12M | 43.17M | |||
| Machinery | 14.26M | 11.35M | 6.85M | 4.13M | 2.26M | |
| Construction In Progress | 107.94M | |||||
| Leasehold Improvements | 148.00K | 156.00K | 683.00K | 683.00K |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -47.53M | 51.50M | -26.80M | 355.20M | 450.14M | |
| Depreciation & Amortization | 6.82M | 4.98M | 3.83M | 1.81M | 553.00K | |
| Loss (Gain) From Sale of Assets | 38.00K | 4.00K | ||||
| Asset Writedown & Restructuring Costs | 74.00K | 210.00K | ||||
| Loss (Gain) From Sale of Investments | -21.00K | 60.00K | -174.00K | |||
| Stock-Based Compensation | 8.65M | 8.97M | 3.47M | |||
| Other Operating Activities | 4.73M | -118.54M | 12.64M | 1.42M | 113.00K | |
| Change in Accounts Receivable | 6.53M | |||||
| Change in Inventory | -51.15M | -95.82M | 11.44M | -12.34M | -57.34M | |
| Change in Accounts Payable | -11.82M | 14.65M | -2.71M | -3.68M | 5.96M | |
| Change in Unearned Revenue | -12.32M | 16.70M | 9.82M | -3.00M | 3.00M | |
| Change in Income Taxes | -1.98M | 389.00K | -605.00K | 2.24M | ||
| Change in Other Net Operating Assets | 11.60M | -21.36M | -15.64M | -14.96M | -13.55M | |
| Operating Cash Flow | -92.93M | -138.25M | -4.71M | 326.69M | 395.42M | |
| Capital Expenditures | -5.70M | -10.08M | -47.47M | -116.87M | -1.77M | |
| Sale of Property, Plant & Equipment | 16.55M | |||||
| Sale (Purchase) of Intangibles | -3.42M | |||||
| Investment in Securities | -44.28M | -93.51M | -122.99M | |||
| Other Investing Activities | 21.12M | -22.35M | -679.00K | |||
| Investing Cash Flow | -12.31M | -125.94M | -174.56M | -116.87M | -1.77M | |
| Short-Term Debt Issued | 5.00M | |||||
| Total Debt Issued | 5.00M | |||||
| Short-Term Debt Repaid | -5.00M | |||||
| Total Debt Repaid | -5.00M | |||||
| Issuance of Common Stock | 10.06M | 61.31M | 100.60M | |||
| Common Dividends Paid | -10.54M | |||||
| Other Financing Activities | -2.67M | -10.09M | -916.00K | |||
| Financing Cash Flow | 7.39M | 51.22M | 89.14M | |||
| Foreign Exchange Rate Adjustments | -2.75M | 1.27M | 995.00K | |||
| Net Cash Flow | -100.59M | -262.92M | -127.06M | 209.81M | 482.79M | |
| Free Cash Flow | -98.63M | -148.33M | -52.17M | 209.81M | 393.65M | |
| Free Cash Flow Margin | -44.66% | -52.64% | -63.45% | 44.29% | 62.30% | |
| Free Cash Flow Per Share | -1.63 | -2.47 | -0.87 | 3.57 | 7.80 | |
| Levered Free Cash Flow | -3.39M | -55.99M | -44.82M | 59.33M | 222.97M | |
| Unlevered Free Cash Flow | -3.36M | -55.95M | -44.78M | 59.38M | 223.09M | |
| Cash Interest Paid | 92.00K | |||||
| Cash Income Tax Paid | 1.71M | 15.42M | 4.79M | 9.57M | ||
| Change in Working Capital | -65.68M | -85.44M | 2.31M | -31.74M | -55.39M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 83.22M | 108.67M | 197.80M | 741.43M | ||
| Enterprise Value | 15.35M | 45.09M | 117.64M | 644.78M | ||
| Last Close Price | 1.26 | 1.79 | 3.30 | 12.37 | ||
| PE Ratio | 28.04 | |||||
| Forward PE | 66.30 | 8.46 | ||||
| PS Ratio | 9.28 | 3.44 | 5.12 | 63.94 | ||
| PB Ratio | 0.63 | 0.78 | 1.43 | 5.53 | ||
| P/TBV Ratio | 0.64 | 0.79 | 1.43 | 5.55 | ||
| EV/Sales Ratio | 1.11 | 1.43 | 3.05 | 55.60 | ||
| EV/EBITDA Ratio | 105.50 | |||||
| EV/EBIT Ratio | 272.08 | |||||
| Debt / Equity Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA Ratio | 0.03 | 0.00 | 0.00 | |||
| Debt / FCF Ratio | 0.01 | 0.01 | ||||
| Net Debt / Equity Ratio | -0.56 | -0.50 | -0.51 | -0.72 | -0.76 | -0.86 |
| Net Debt / EBITDA Ratio | 2.70 | 4.99 | -63.96 | 11.23 | -2.19 | -1.12 |
| Net Debt / FCF Ratio | 4.95 | 3.51 | 13.16 | -3.39 | -1.27 | |
| Asset Turnover | 0.06 | 0.21 | 0.27 | 0.09 | 0.61 | 1.93 |
| Inventory Turnover | 1.65 | 2.72 | 1.86 | 1.22 | 1.20 | 2.99 |
| Quick Ratio | 13.58 | 11.45 | 6.84 | 24.79 | 37.16 | 15.90 |
| Current Ratio | 16.22 | 14.10 | 9.43 | 27.61 | 43.34 | 19.22 |
| Return on Equity (ROE) | -21.63% | -4.78% | 5.25% | -2.84% | 46.98% | 146.96% |
| Return on Assets (ROA) | -11.59% | -6.20% | 0.19% | -4.20% | 25.79% | 85.35% |
| Return on Invested Capital (ROIC) | -48.47% | -21.33% | 0.83% | -26.71% | 207.63% | 914.91% |
| Return on Capital Employed (ROCE) | -21.50% | -10.70% | 0.30% | -6.80% | 34.60% | 77.20% |
| Earnings Yield | -35.73% | -6.25% | 3.57% | -0.51% | ||
| FCF Yield | -17.49% | -12.97% | -10.27% | -0.99% | ||
| Payout Ratio | 2.34% | |||||
| Buyback Yield / Dilution | -1.09% | -0.75% | -0.53% | -1.48% | -16.63% | -0.87% |