NASDAQ : QH
Quhuo Limited — Financial statements
Technology · Software - Application · China
Last price 2.97 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.17M
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Financial statements
Quhuo Limited (QH) reported revenue of 2.53B 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 | 2.53B | 2.53B | 3.05B | 3.70B | 3.82B | 4.03B |
| Cost of Revenue | 2.51B | 2.51B | 2.97B | 3.54B | 3.57B | 3.85B |
| Gross Profit | 12.37M | 12.37M | 73.71M | 166.61M | 252.69M | 175.60M |
| Selling, General & Admin | 187.78M | 187.78M | 148.63M | 184.34M | 213.59M | 236.51M |
| Research & Development | 7.11M | 7.11M | 10.69M | 12.38M | 12.54M | 20.12M |
| Operating Expenses | 194.89M | 194.89M | 159.32M | 196.71M | 226.13M | 256.63M |
| Operating Income | -182.52M | -182.52M | -85.60M | -30.11M | 26.56M | -81.03M |
| Interest Expense | -4.20M | -4.20M | -4.11M | -4.88M | -5.68M | -7.03M |
| Interest & Investment Income | 193.00K | 193.00K | 385.00K | 1.05M | 690.00K | 644.00K |
| Currency Exchange Gain (Loss) | 952.00K | |||||
| Other Non Operating Income (Expenses) | -230.00K | -230.00K | 3.68M | 11.20M | 21.42M | 18.91M |
| EBT Excluding Unusual Items | -186.75M | -186.75M | -85.64M | -22.74M | 42.98M | -67.55M |
| Impairment of Goodwill | -4.88M | -51.97M | ||||
| Gain (Loss) on Sale of Investments | -6.31M | 5.51M | -47.49M | -52.88M | ||
| Gain (Loss) on Sale of Assets | 4.44M | 4.44M | 75.22M | 22.32M | 13.97M | -2.56M |
| Asset Writedown | -4.24M | |||||
| Pretax Income | -182.31M | -182.31M | -16.73M | 5.08M | 4.59M | -179.20M |
| Income Tax Expense | -31.80M | -31.80M | -18.34M | -927.00K | 21.00M | 12.03M |
| Earnings From Continuing Operations | -150.51M | -150.51M | 1.61M | 6.01M | -16.41M | -191.23M |
| Minority Interest in Earnings | 1.05M | 1.05M | 1.09M | -2.67M | 3.28M | 33.32M |
| Net Income | -149.46M | -149.46M | 2.71M | 3.33M | -13.13M | -157.91M |
| Net Income to Common | -149.46M | -149.46M | 2.71M | 3.33M | -13.13M | -157.91M |
| Shares Outstanding (Basic) | 43.58K | 43.58K | 13.00K | |||
| Shares Outstanding (Diluted) | 43.58K | 43.58K | 13.00K | |||
| EPS (Basic) | -3,429.80 | -3,429.80 | 208.06 | |||
| EPS (Diluted) | -3,520.00 | -3,520.00 | 208.06 | |||
| Free Cash Flow | -39.39M | -39.39M | -15.66M | -97.42M | 70.06M | -40.22M |
| Free Cash Flow Per Share | -903.94 | -903.94 | -1,204.68 | |||
| Gross Margin | 0.49% | 0.49% | 2.42% | 4.50% | 6.61% | 4.36% |
| Operating Margin | -7.23% | -7.23% | -2.81% | -0.81% | 0.69% | -2.01% |
| Profit Margin | -5.92% | -5.92% | 0.09% | 0.09% | -0.34% | -3.92% |
| Free Cash Flow Margin | -1.56% | -1.56% | -0.51% | -2.63% | 1.83% | -1.00% |
| EBITDA | -166.81M | -166.81M | -63.90M | -4.36M | 55.16M | -50.52M |
| EBITDA Margin | -6.60% | -6.60% | -2.10% | -0.12% | 1.44% | -1.26% |
| D&A For EBITDA | 15.71M | 15.71M | 21.70M | 25.75M | 28.61M | 30.51M |
| EBIT | -182.52M | -182.52M | -85.60M | -30.11M | 26.56M | -81.03M |
| EBIT Margin | -7.23% | -7.23% | -2.81% | -0.81% | 0.69% | -2.01% |
| Effective Tax Rate | 457.76% |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 38.38M | 38.38M | 63.20M | 45.19M | 95.44M | 28.59M |
| Short-Term Investments | 68.38M | 64.36M | 178.83M | |||
| Cash & Short-Term Investments | 38.38M | 38.38M | 63.20M | 113.56M | 159.80M | 207.42M |
| Accounts Receivable | 266.33M | 266.33M | 295.71M | 475.99M | 495.05M | 510.68M |
| Other Receivables | 70.47M | 70.47M | 98.21M | 79.07M | 32.82M | 25.29M |
| Receivables | 336.80M | 336.80M | 393.93M | 555.06M | 527.86M | 535.98M |
| Prepaid Expenses | 532.00K | 532.00K | 1.64M | 10.04M | 7.92M | 10.18M |
| Restricted Cash | 1.63M | 1.63M | 1.92M | 1.27M | 5.58M | 2.31M |
| Other Current Assets | 27.52M | 27.52M | 12.19M | 19.50M | 18.05M | 11.54M |
| Total Current Assets | 404.86M | 404.86M | 472.88M | 699.43M | 719.22M | 767.44M |
| Property, Plant & Equipment | 3.91M | 3.91M | 13.49M | 20.85M | 17.01M | 22.88M |
| Long-Term Investments | 30.72M | 30.72M | 1.42M | 1.42M | 6.05M | 6.11M |
| Goodwill | 65.48M | 65.48M | 65.48M | 65.48M | 65.48M | 66.75M |
| Other Intangible Assets | 44.63M | 44.63M | 57.98M | 82.82M | 101.60M | 124.26M |
| Long-Term Deferred Tax Assets | 54.84M | 54.84M | 31.55M | 21.97M | 12.00M | 6.73M |
| Other Long-Term Assets | 193.92M | 193.92M | 224.23M | 139.97M | 134.25M | 151.22M |
| Total Assets | 798.36M | 798.36M | 867.03M | 1.03B | 1.06B | 1.15B |
| Accounts Payable | 161.63M | 161.63M | 145.78M | 254.10M | 293.28M | 334.08M |
| Accrued Expenses | 17.99M | 17.99M | 10.29M | 34.42M | 45.29M | 47.79M |
| Short-Term Debt | 113.15M | 113.15M | 110.02M | 89.92M | 65.00M | 144.02M |
| Current Portion of Long-Term Debt | 296.00K | 296.00K | 2.83M | 2.73M | 434.00K | 4.42M |
| Current Portion of Leases | 1.38M | 1.38M | 2.82M | 3.91M | 3.28M | 5.32M |
| Current Income Taxes Payable | 15.21M | 15.21M | 15.18M | 11.12M | 13.45M | 7.60M |
| Other Current Liabilities | 85.08M | 85.08M | 50.15M | 62.59M | 67.22M | 65.83M |
| Total Current Liabilities | 394.75M | 394.75M | 337.06M | 458.79M | 487.94M | 609.06M |
| Long-Term Debt | 4.71M | 7.53M | 1.30M | 3.00K | ||
| Long-Term Leases | 144.00K | 144.00K | 1.64M | 1.43M | 1.10M | 1.42M |
| Long-Term Deferred Tax Liabilities | 256.00K | 256.00K | 599.00K | 4.69M | 814.00K | 753.00K |
| Other Long-Term Liabilities | 53.61M | 53.61M | 62.41M | 54.21M | 66.88M | 50.70M |
| Total Liabilities | 448.76M | 448.76M | 406.41M | 526.66M | 558.04M | 661.94M |
| Common Stock | 2.60M | 2.60M | 615.00K | 43.00K | 43.00K | 37.00K |
| Additional Paid-In Capital | 1.88B | 1.88B | 1.84B | 1.89B | 1.89B | 1.86B |
| Retained Earnings | -1.52B | -1.52B | -1.37B | -1.38B | -1.38B | -1.37B |
| Comprehensive Income & Other | -2.14M | -2.14M | -1.55M | -2.47M | -4.65M | -18.26M |
| Total Common Equity | 354.76M | 354.76M | 464.72M | 506.19M | 501.16M | 470.94M |
| Minority Interest | -5.15M | -5.15M | -4.11M | -911.00K | -3.58M | 12.49M |
| Shareholders' Equity | 349.60M | 349.60M | 460.62M | 505.28M | 497.58M | 483.44M |
| Total Liabilities & Equity | 798.36M | 798.36M | 867.03M | 1.03B | 1.06B | 1.15B |
| Total Debt | 114.97M | 114.97M | 122.01M | 105.53M | 71.12M | 155.19M |
| Net Cash (Debt) | -76.60M | -76.60M | -58.80M | 8.04M | 88.68M | 52.24M |
| Net Cash Per Share | -1,757.72 | -1,757.72 | -4,523.11 | |||
| Filing Date Shares Outstanding | 711.83K | 711.83K | 28.03K | |||
| Total Common Shares Outstanding | 118.39K | 118.39K | 28.03K | |||
| Working Capital | 10.11M | 10.11M | 135.81M | 240.64M | 231.28M | 158.38M |
| Book Value Per Share | 2,996.44 | 2,996.44 | 16,579.45 | |||
| Tangible Book Value | 244.65M | 244.65M | 341.26M | 357.89M | 334.08M | 279.93M |
| Tangible Book Value Per Share | 2,066.40 | 2,066.40 | 12,174.67 | |||
| Machinery | 7.83M | 7.83M | 17.06M | 36.34M | 34.21M | 30.49M |
| Leasehold Improvements | 417.00K | 417.00K | 417.00K | 417.00K | 417.00K | 417.00K |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -149.46M | -149.46M | 2.71M | 3.33M | -13.13M | -191.23M |
| Depreciation & Amortization | 15.71M | 15.71M | 21.70M | 25.75M | 28.61M | 30.51M |
| Loss (Gain) From Sale of Assets | -4.44M | -4.44M | -75.22M | -22.32M | -13.97M | 2.56M |
| Asset Writedown & Restructuring Costs | 4.88M | 51.97M | ||||
| Loss (Gain) From Sale of Investments | 6.31M | -5.51M | 41.84M | 52.88M | ||
| Stock-Based Compensation | 3.01M | 3.01M | -495.00K | 19.76M | 68.93M | |
| Provision & Write-off of Bad Debts | 25.58M | 25.58M | 5.93M | -648.00K | 2.54M | |
| Other Operating Activities | -24.22M | -24.22M | -13.60M | -2.29M | -8.81M | 5.31M |
| Change in Accounts Receivable | 29.38M | 29.38M | 179.90M | 19.70M | 13.10M | -134.19M |
| Change in Accounts Payable | 15.86M | 15.86M | -108.32M | -39.18M | -40.80M | 65.14M |
| Change in Income Taxes | 5.32M | 5.32M | 4.06M | -2.33M | 5.85M | -4.69M |
| Change in Other Net Operating Assets | 45.33M | 45.33M | -38.20M | -73.30M | 34.86M | 21.91M |
| Operating Cash Flow | -37.94M | -37.94M | -14.74M | -97.28M | 74.72M | -30.89M |
| Capital Expenditures | -1.45M | -1.45M | -924.00K | -142.00K | -4.66M | -9.33M |
| Sale of Property, Plant & Equipment | 6.52M | 6.52M | 1.39M | 467.00K | ||
| Cash Acquisitions | -5.01M | -3.36M | ||||
| Sale (Purchase) of Intangibles | 4.56M | 4.56M | -399.00K | 14.14M | 12.73M | -52.55M |
| Investment in Securities | -29.30M | -29.30M | 863.00K | 3.92M | 72.63M | -33.35M |
| Other Investing Activities | 1.52M | -11.82M | ||||
| Investing Cash Flow | -19.68M | -19.68M | 934.00K | 18.38M | 77.21M | -110.41M |
| Short-Term Debt Issued | 775.73M | 775.73M | 593.33M | 271.46M | 473.49M | 213.47M |
| Total Debt Issued | 775.73M | 775.73M | 593.33M | 271.46M | 473.49M | 213.47M |
| Short-Term Debt Repaid | -775.13M | -775.13M | -573.23M | -246.54M | -552.51M | -136.00M |
| Long-Term Debt Repaid | -4.71M | -4.71M | -1.92M | -698.00K | -3.12M | -8.79M |
| Total Debt Repaid | -779.84M | -779.84M | -575.15M | -247.24M | -555.63M | -144.79M |
| Net Debt Issued (Repaid) | -4.11M | -4.11M | 18.18M | 24.22M | -82.14M | 68.67M |
| Issuance of Common Stock | 37.08M | 37.08M | 14.24M | |||
| Financing Cash Flow | 32.97M | 32.97M | 32.42M | 24.22M | -82.14M | 68.67M |
| Foreign Exchange Rate Adjustments | -458.00K | -458.00K | 48.00K | 110.00K | 321.00K | -214.00K |
| Net Cash Flow | -25.11M | -25.11M | 18.66M | -54.57M | 70.11M | -72.85M |
| Free Cash Flow | -39.39M | -39.39M | -15.66M | -97.42M | 70.06M | -40.22M |
| Free Cash Flow Margin | -1.56% | -1.56% | -0.51% | -2.63% | 1.83% | -1.00% |
| Free Cash Flow Per Share | -903.94 | -903.94 | -1,204.68 | |||
| Levered Free Cash Flow | 6.83M | 6.83M | -329.12K | -66.06M | 34.01M | -61.28M |
| Unlevered Free Cash Flow | 9.46M | 9.46M | 2.24M | -63.01M | 37.56M | -56.88M |
| Cash Interest Paid | 2.40M | 2.40M | 2.79M | 3.17M | 5.72M | 6.17M |
| Cash Income Tax Paid | 322.00K | 322.00K | 428.00K | 2.81M | 4.19M | 10.58M |
| Change in Working Capital | 95.89M | 95.89M | 37.43M | -95.10M | 13.00M | -51.83M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Debt / Equity Ratio | 0.33 | 0.33 | 0.27 | 0.21 | 0.14 | 0.32 |
| Debt / EBITDA Ratio | 2.98 | 0.72 | ||||
| Debt / FCF Ratio | 1.01 | |||||
| Net Debt / Equity Ratio | 0.22 | 0.22 | 0.13 | -0.02 | -0.18 | -0.11 |
| Net Debt / EBITDA Ratio | -0.46 | -0.46 | -0.92 | 1.84 | -1.61 | 1.03 |
| Net Debt / FCF Ratio | -1.95 | -1.95 | -3.75 | 0.08 | -1.27 | 1.30 |
| Asset Turnover | 3.03 | 3.03 | 3.21 | 3.55 | 3.47 | 3.54 |
| Quick Ratio | 0.95 | 0.95 | 1.36 | 1.46 | 1.41 | 1.22 |
| Current Ratio | 1.03 | 1.03 | 1.40 | 1.52 | 1.47 | 1.26 |
| Return on Equity (ROE) | -37.15% | -37.15% | 0.33% | 1.20% | -3.35% | -35.21% |
| Return on Assets (ROA) | -13.70% | -13.70% | -5.63% | -1.80% | 1.51% | -4.45% |
| Return on Invested Capital (ROIC) | -42.82% | -38.60% | -16.84% | -6.64% | -22.62% | -19.16% |
| Return on Capital Employed (ROCE) | -45.20% | -45.20% | -16.20% | -5.30% | 4.70% | -15.10% |
| Buyback Yield / Dilution | -235.19% | -235.19% |