NASDAQ : WRD
WeRide Inc. — Financial statements
Technology · Software - Application · China
Last price 4.14 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.36B
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Financial statements
WeRide Inc. (WRD) reported revenue of 830.83M 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 | 830.83M | 684.59M | 361.13M | 401.84M | 527.54M | 138.17M |
| Cost of Revenue | 558.59M | 477.76M | 250.42M | 218.37M | 295.00M | 86.51M |
| Gross Profit | 272.24M | 206.82M | 110.72M | 183.48M | 232.54M | 51.66M |
| Selling, General & Admin | 566.92M | 669.69M | 1.19B | 666.82M | 260.81M | 119.34M |
| Research & Development | 1.53B | 1.37B | 1.09B | 1.06B | 758.57M | 443.18M |
| Other Operating Expenses | -27.98M | -8.38M | -15.48M | -16.84M | -20.25M | -14.75M |
| Operating Expenses | 2.08B | 2.05B | 2.30B | 1.75B | 1.01B | 548.18M |
| Operating Income | -1.81B | -1.84B | -2.19B | -1.57B | -778.28M | -496.52M |
| Interest Expense | -8.72M | -6.93M | -2.80M | -2.85M | -3.57M | -5.57M |
| Interest & Investment Income | 195.87M | 172.31M | 176.90M | 132.04M | 36.11M | 29.77M |
| Currency Exchange Gain (Loss) | -39.15M | -9.03M | 27.88M | 7.05M | 20.21M | -5.07M |
| Other Non Operating Income (Expenses) | -2.20M | -2.20M | -465.90M | -559.23M | -579.74M | -529.36M |
| EBT Excluding Unusual Items | -1.66B | -1.69B | -2.45B | -1.99B | -1.31B | -1.01B |
| Gain (Loss) on Sale of Investments | 12.76M | 41.82M | -61.83M | 42.96M | 7.73M | 3.48M |
| Gain (Loss) on Sale of Assets | -3.48M | -3.47M | 1.01M | -1.09M | -950.00K | -3.97M |
| Pretax Income | -1.65B | -1.65B | -2.51B | -1.95B | -1.30B | -1.01B |
| Income Tax Expense | 2.08M | 4.10M | 5.87M | 2.87M | ||
| Net Income | -1.65B | -1.65B | -2.52B | -1.95B | -1.30B | -1.01B |
| Preferred Dividends & Other Adjustments | 32.77M | |||||
| Net Income to Common | -1.65B | -1.65B | -2.52B | -1.98B | -1.30B | -1.01B |
| Shares Outstanding (Basic) | 324.38M | 308.67M | 98.22M | 39.18M | 39.07M | 33.71M |
| Shares Outstanding (Diluted) | 324.38M | 308.67M | 98.22M | 39.18M | 39.07M | 33.71M |
| EPS (Basic) | -5.10 | -5.36 | -25.63 | -50.58 | -33.23 | -29.88 |
| EPS (Diluted) | -5.10 | -5.36 | -25.63 | -50.58 | -33.23 | -29.88 |
| Free Cash Flow | -1.57B | -677.60M | -511.54M | -751.19M | -531.82M | |
| Free Cash Flow Per Share | -5.08 | -6.90 | -13.05 | -19.23 | -15.78 | |
| Gross Margin | 32.77% | 30.21% | 30.66% | 45.66% | 44.08% | 37.39% |
| Operating Margin | -217.39% | -269.26% | -605.37% | -389.48% | -147.53% | -359.35% |
| Profit Margin | -198.97% | -241.74% | -696.92% | -493.19% | -246.14% | -728.98% |
| Free Cash Flow Margin | -229.24% | -187.63% | -127.30% | -142.40% | -384.90% | |
| EBITDA | -1.68B | -1.73B | -2.12B | -1.51B | -723.48M | -453.08M |
| EBITDA Margin | -202.19% | -252.33% | -137.14% | |||
| D&A For EBITDA | 126.24M | 115.90M | 62.65M | 53.41M | 54.80M | 43.45M |
| EBIT | -1.81B | -1.84B | -2.19B | -1.57B | -778.28M | -496.52M |
| EBIT Margin | -217.39% | -269.26% | -147.53% | |||
| Revenue as Reported | 830.83M | 684.59M | 361.13M | 401.84M | 527.54M | 138.17M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.28B | 6.67B | 4.27B | 1.66B | 2.23B | 2.73B |
| Short-Term Investments | 1.10B | 301.40M | 620.15M | 2.55B | 1.06B | 1.95M |
| Trading Asset Securities | 2.29M | 144.25M | 1.69B | 317.04M | 1.22B | 53.87M |
| Cash & Short-Term Investments | 5.38B | 7.11B | 6.57B | 4.53B | 4.51B | 2.78B |
| Accounts Receivable | 479.73M | 486.01M | 293.73M | 376.68M | 331.47M | 40.44M |
| Other Receivables | 190.81M | 160.40M | 111.61M | 122.69M | 59.12M | 44.95M |
| Receivables | 670.54M | 646.42M | 423.84M | 510.23M | 390.59M | 85.38M |
| Inventory | 439.11M | 321.02M | 204.71M | 218.22M | 156.00M | 146.84M |
| Prepaid Expenses | 18.22M | 3.00M | ||||
| Restricted Cash | 10.42M | 12.91M | 4.81M | 10.19M | 1.39M | 3.01M |
| Other Current Assets | 112.68M | 118.02M | 81.04M | 102.91M | 15.97M | |
| Total Current Assets | 6.63B | 8.21B | 7.29B | 5.37B | 5.07B | 3.02B |
| Property, Plant & Equipment | 712.79M | 444.64M | 251.74M | 150.23M | 178.29M | 173.31M |
| Long-Term Investments | 252.41M | 188.08M | 56.92M | |||
| Goodwill | 44.76M | 44.76M | 44.76M | 44.76M | 44.76M | 44.76M |
| Other Intangible Assets | 16.43M | 17.97M | 21.66M | 24.59M | 28.60M | 30.99M |
| Long-Term Accounts Receivable | 561.00K | 250.00K | 23.45M | 3.52M | ||
| Long-Term Deferred Tax Assets | 997.00K | 1.99M | 2.99M | 3.99M | ||
| Other Long-Term Assets | 100.95M | 30.16M | 29.13M | 22.41M | 33.83M | 30.41M |
| Total Assets | 7.76B | 8.94B | 7.69B | 5.61B | 5.39B | 3.31B |
| Accounts Payable | 243.56M | 163.00M | 20.71M | 16.96M | 36.34M | 34.64M |
| Accrued Expenses | 195.82M | 216.34M | 213.21M | 94.88M | 65.57M | 55.78M |
| Short-Term Debt | 485.05M | 324.26M | 30.02M | |||
| Current Portion of Leases | 35.39M | 31.92M | 36.90M | 31.10M | 32.01M | 32.54M |
| Current Income Taxes Payable | 2.08M | |||||
| Current Unearned Revenue | 237.32M | 220.53M | 189.02M | 188.92M | 143.31M | 3.82M |
| Other Current Liabilities | 39.59M | 45.25M | 50.55M | 8.26B | 84.62M | 107.55M |
| Total Current Liabilities | 1.24B | 1.00B | 542.49M | 8.59B | 361.85M | 234.34M |
| Long-Term Debt | 50.04M | 7.02B | ||||
| Long-Term Leases | 95.40M | 23.24M | 26.06M | 22.31M | 35.86M | 61.30M |
| Long-Term Unearned Revenue | 24.99M | 7.72M | 4.68M | 6.52M | 5.94M | 139.79M |
| Long-Term Deferred Tax Liabilities | 2.99M | 3.49M | 4.49M | 5.48M | 6.48M | 7.48M |
| Other Long-Term Liabilities | 40.45M | 39.81M | 791.30M | |||
| Total Liabilities | 1.36B | 1.04B | 627.75M | 8.67B | 7.47B | 1.23B |
| Common Stock | 73.00K | 73.00K | 58.00K | 8.00K | 8.00K | 7.00K |
| Additional Paid-In Capital | 14.99B | 14.96B | 12.75B | 1.10B | 1.06B | 1.05B |
| Retained Earnings | -11.08B | -10.29B | -8.63B | -6.11B | -4.13B | -2.83B |
| Treasury Stock | -684.81M | -151.67M | -151.67M | -91.84M | ||
| Comprehensive Income & Other | 3.17B | 3.22B | 2.95B | 2.11B | 1.14B | 913.27M |
| Total Common Equity | 6.40B | 7.90B | 7.07B | -3.05B | -2.08B | -966.12M |
| Shareholders' Equity | 6.40B | 7.90B | 7.07B | -3.05B | -2.08B | 2.07B |
| Total Liabilities & Equity | 7.76B | 8.94B | 7.69B | 5.61B | 5.39B | 3.31B |
| Total Debt | 615.83M | 379.42M | 143.02M | 53.41M | 7.09B | 93.83M |
| Net Cash (Debt) | 4.76B | 6.73B | 6.43B | 4.48B | -2.58B | 2.69B |
| Net Cash Per Share | 14.68 | 21.81 | 65.47 | 114.21 | -65.92 | 79.72 |
| Filing Date Shares Outstanding | 325.74M | 335.26M | 284.53M | 35.20M | 34.62M | 33.66M |
| Total Common Shares Outstanding | 325.74M | 342.44M | 275.40M | 33.49M | 32.91M | 33.66M |
| Working Capital | 5.39B | 7.21B | 6.75B | -3.22B | 4.71B | 2.79B |
| Book Value Per Share | 19.63 | 23.07 | 25.66 | -91.12 | -63.28 | -28.70 |
| Tangible Book Value | 6.33B | 7.84B | 7.00B | -3.12B | -2.16B | -1.04B |
| Tangible Book Value Per Share | 19.45 | 22.89 | 25.42 | -93.19 | -65.50 | -30.95 |
| Machinery | 662.82M | 369.87M | 247.77M | 224.11M | 153.71M | |
| Construction In Progress | 191.00K | 48.00K | 634.00K | |||
| Leasehold Improvements | 63.45M | 49.50M | 39.46M | 35.50M | 29.29M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.65B | -2.52B | -1.95B | -1.30B | -1.01B | |
| Depreciation & Amortization | 166.68M | 101.13M | 89.61M | 86.55M | 65.82M | |
| Loss (Gain) From Sale of Assets | 3.47M | -1.01M | 1.09M | 950.00K | 3.97M | |
| Loss (Gain) From Sale of Investments | -41.82M | 61.83M | -42.96M | -7.73M | -3.48M | |
| Stock-Based Compensation | 449.98M | 1.19B | 931.78M | 325.43M | 55.96M | |
| Provision & Write-off of Bad Debts | 16.62M | 28.66M | 40.22M | 11.70M | 409.00K | |
| Other Operating Activities | 14.06M | 537.27M | 562.55M | 573.15M | 530.75M | |
| Change in Accounts Receivable | -224.21M | 43.24M | -52.36M | -308.91M | -22.49M | |
| Change in Inventory | -207.62M | -62.26M | -68.55M | -41.45M | -92.35M | |
| Change in Accounts Payable | 142.33M | 3.73M | 6.29M | -4.49M | -2.89M | |
| Change in Unearned Revenue | 24.08M | -8.02M | 8.30M | 381.00K | 2.98M | |
| Change in Other Net Operating Assets | -10.42M | 30.76M | -1.76M | -7.47M | -38.09M | |
| Operating Cash Flow | -1.32B | -593.60M | -474.89M | -670.38M | -506.67M | |
| Capital Expenditures | -247.60M | -84.00M | -36.65M | -80.81M | -25.16M | |
| Sale of Property, Plant & Equipment | 1.44M | 1.06M | 1.90M | 2.17M | 1.25M | |
| Cash Acquisitions | -69.47M | |||||
| Sale (Purchase) of Intangibles | -848.00K | -1.50M | -304.00K | -1.88M | -481.00K | |
| Investment in Securities | 1.73B | 417.08M | -501.03M | -2.12B | 554.76M | |
| Other Investing Activities | 18.62M | -7.13M | -10.86M | |||
| Investing Cash Flow | 1.51B | 325.50M | -546.94M | -2.20B | 460.90M | |
| Long-Term Debt Issued | 332.41M | 80.00M | ||||
| Total Debt Issued | 332.41M | 80.00M | ||||
| Long-Term Debt Repaid | -134.95M | -44.98M | -38.16M | -34.45M | -112.84M | |
| Lease Payments | -46.63M | -44.98M | -38.16M | -34.45M | -21.63M | |
| Total Debt Repaid | -134.95M | -44.98M | -38.16M | -34.45M | -112.84M | |
| Net Debt Issued (Repaid) | 197.46M | 35.02M | -38.16M | -34.45M | -112.84M | |
| Issuance of Common Stock | 2.17B | 3.17B | 42.52M | 19.92M | 65.05M | |
| Repurchase of Common Stock | -50.85M | -394.19M | -44.44M | -181.24M | ||
| Other Financing Activities | -19.26M | -7.08M | -42.70M | 139.97M | 120.05M | |
| Financing Cash Flow | 2.30B | 2.82B | 446.95M | 2.18B | 2.60B | |
| Foreign Exchange Rate Adjustments | -82.59M | 51.36M | 2.34M | 196.33M | -44.34M | |
| Net Cash Flow | 2.40B | 2.61B | -572.54M | -491.88M | 2.51B | |
| Free Cash Flow | -1.57B | -677.60M | -511.54M | -751.19M | -531.82M | |
| Free Cash Flow Margin | -229.24% | -187.63% | -127.30% | -142.40% | -384.90% | |
| Free Cash Flow Per Share | -5.08 | -6.90 | -13.05 | -19.23 | -15.78 | |
| Levered Free Cash Flow | -1.00B | -8.12B | 7.96B | -357.06M | -511.34M | |
| Unlevered Free Cash Flow | -998.27M | -8.12B | 7.96B | -354.82M | -507.86M | |
| Free Cash Flow After Leases | -1.62B | -722.58M | -549.70M | -785.64M | -553.46M | |
| Cash Interest Paid | 6.81M | 2.74M | 2.85M | 3.57M | 5.57M | |
| Cash Income Tax Paid | 4.10M | 3.79M | 2.87M | |||
| Change in Working Capital | -275.83M | 7.46M | -108.08M | -361.94M | -152.85M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.36B | 2.97B | 3.89B | |||
| Enterprise Value | 660.95M | 2.25B | 4.62B | |||
| Last Close Price | 4.14 | 8.68 | 14.18 | |||
| PS Ratio | 11.13 | 30.35 | 78.67 | |||
| PB Ratio | 1.43 | 2.63 | 4.02 | |||
| P/TBV Ratio | 1.46 | 2.65 | 4.06 | |||
| EV/Sales Ratio | 5.40 | 22.99 | 93.47 | |||
| Debt / Equity Ratio | 0.10 | 0.05 | 0.02 | -0.02 | -3.40 | 0.04 |
| Net Debt / Equity Ratio | -0.74 | -0.85 | -0.91 | 1.47 | -1.24 | -1.30 |
| Net Debt / EBITDA Ratio | 2.83 | 3.90 | 3.03 | 2.96 | -3.56 | 5.93 |
| Net Debt / FCF Ratio | 4.29 | 9.49 | 8.75 | -3.43 | 5.05 | |
| Asset Turnover | 0.11 | 0.08 | 0.05 | 0.07 | 0.12 | 0.06 |
| Inventory Turnover | 1.53 | 1.82 | 1.18 | 1.17 | 1.95 | 1.02 |
| Quick Ratio | 4.89 | 7.75 | 12.87 | 0.58 | 13.54 | 12.23 |
| Current Ratio | 5.36 | 8.20 | 13.43 | 0.62 | 14.02 | 12.89 |
| Return on Equity (ROE) | -25.71% | -22.12% | -125.40% | -118.27% | ||
| Return on Assets (ROA) | -15.15% | -13.86% | -20.53% | -17.79% | -11.19% | -13.99% |
| Return on Capital Employed (ROCE) | -27.70% | -23.20% | -30.60% | 52.60% | -15.50% | -16.20% |
| Earnings Yield | -18.11% | -7.97% | -8.86% | |||
| FCF Yield | -17.33% | -7.55% | -2.38% | |||
| Buyback Yield / Dilution | -41.37% | -214.28% | -150.66% | -0.28% | -15.91% | -16.53% |