China Automotive Systems, Inc.
CAAS Nasdaq Motor Vehicle Parts & Accessories Financials FY2023–FY2025
What China Automotive Systems, Inc. does
No business description yet.
- Legal name
- China Automotive Systems, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 22, 2026
- Accession · CIK
- 0001104659-26-046434
0002037400
Revenue and margins
China Automotive Systems, Inc. had $766M of revenue in fiscal 2025, up 17.6% on the year before.
Net income and earnings per share
From fiscal 2023 to 2025, diluted EPS grew 6.6% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $74.4M in fiscal 2025, 9.7% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
China Automotive Systems, Inc. returned $2.2M to shareholders in fiscal 2025, 3% of free cash flow. The diluted share count fell 0.0%.
Balance sheet
Cash, debt and the ratios that show how comfortably China Automotive Systems, Inc. can carry it.
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $155M | $84.5M | $178M |
| Debt incl. finance leases | — | $72.6M | $81.3M |
| Net debt / EBITDA | — | −0.2x | −1.4x |
| Debt / equity | — | 0.2x | 0.2x |
| Interest coverage | 38.4x | 22.2x | 31.5x |
| Current ratio | — | 1.3x | 1.4x |
| Quick ratio | — | 1.1x | 1.1x |
| Total assets | — | $851M | $1.0B |
| Total liabilities | — | $461M | $551M |
| Shareholders' equity | $344M | $350M | $401M |
| Net debt (− = net cash) | — | −$12.0M | −$96.6M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✓ |
| Cash from operations exceeds net income | ✕ | ✕ | ✓ |
| Debt fell relative to assets | — | — | ✓ |
| Current ratio rose | — | — | ✓ |
| Share count didn't rise | — | ✓ | ✓ |
| Gross margin rose | — | ✕ | ✓ |
| Revenue rose relative to assets | — | — | ✕ |
| F-score | — / 3 | — / 5 | 8 / 9 |
| Accruals ratio | — | 2.4% | −7.4% |
| Altman Z'' | — | — | — |
3 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $576M | $651M | $766M |
| Gross profit | $104M | $109M | $145M |
| Research and development | $29.2M | $27.6M | $45.1M |
| Operating income | $39.2M | $40.3M | $53.6M |
| Interest expense | $1.0M | $1.8M | $1.7M |
| Pretax income | $48.2M | $44.1M | $61.4M |
| Income tax | $5.1M | $5.9M | $11.6M |
| Net income | $37.7M | $30.0M | $42.8M |
| Diluted EPS | $1.25 | $0.99 | $1.42 |
| Diluted shares | 0.03B | 0.03B | 0.03B |
| Cash flow | |||
| Cash from operations | $19.9M | $9.8M | $112M |
| Capital expenditure | $18.2M | $43.7M | $37.2M |
| Free cash flow | $1.7M | −$33.9M | $74.4M |
| Depreciation and amortization | $18.7M | $20.2M | $14.3M |
| Share buybacks | — | $0.1M | — |
| Dividends paid | — | $22.4M | $2.2M |
| Dividends and buybacks | — | $22.5M | $2.2M |
| Balance sheet | |||
| Cash and short-term investments | $155M | $84.5M | $178M |
| Total debt | — | $72.6M | $81.3M |
| Current assets | — | $603M | $738M |
| Current liabilities | — | $456M | $541M |
| Inventory | — | $113M | $124M |
| Property and equipment, net | — | $104M | $134M |
| Intangible assets | — | $3.4M | $3.6M |
| Total assets | — | $851M | $1.0B |
| Total liabilities | — | $461M | $551M |
| Shareholders' equity | $344M | $350M | $401M |
| Margins | |||
| Gross margin | 18.0% | 16.8% | 19.0% |
| Operating margin | 6.8% | 6.2% | 7.0% |
| EBITDA margin | 10.1% | 9.3% | 8.9% |
| Net margin | 6.5% | 4.6% | 5.6% |
| FCF margin | 0.3% | −5.2% | 9.7% |
| Returns | |||
| Return on capital | — | 10.3% | 14.3% |
| Return on capital employed | — | 10.2% | 11.7% |
| Return on equity | 10.9% | 8.6% | 11.4% |
| Return on assets | — | 3.5% | 4.6% |
| Return on tangible equity | 10.9% | 8.7% | 10.8% |
| Growth | |||
| Revenue growth | — | 12.9% | 17.6% |
| Net income growth | — | −20.4% | 42.9% |
| EPS growth | — | −20.8% | 43.4% |
| FCF growth | — | −2,127.5% | — |
| Share count change | — | −0.0% | −0.0% |
| Financial health | |||
| Net debt / EBITDA | — | −0.2x | −1.4x |
| Debt / equity | — | 0.2x | 0.2x |
| Interest coverage | 38.4x | 22.2x | 31.5x |
| Current ratio | — | 1.3x | 1.4x |
| Quick ratio | — | 1.1x | 1.1x |
| Capital allocation | |||
| Capex / revenue | 3.2% | 6.7% | 4.9% |
| Payouts / FCF | — | — | 2.9% |
| Quality scores | |||
| Piotroski F-score | — | — | 8.0 |
| Accruals ratio | — | 2.4% | −7.4% |
Source: SEC EDGAR XBRL filings (CIK 0002037400). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.