GGR Nasdaq Motor Vehicles & Passenger Car Bodies Financials FY2019βFY2025
Gogoro Inc. had $281M of revenue in fiscal 2025, down 9.4% on the year before. Over five years, revenue changed β5.0% a year on average.
Hi! I read Gogoro Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β9.4%
No. Sales fell 9.4% last year.
Does it make a profit?
β28.4%
No. It lost money last year.
Does profit turn into cash?
β10.3%
No. It spent more cash than it brought in.
Is debt under control?
16.4x
Heavy. Repaying its debt would take 16.4 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Gogoro Inc. had $281M of revenue in fiscal 2025, down 9.4% on the year before. Over five years, revenue changed β5.0% a year on average. Its operating margin was β26.0%, up 19.6Β pts: of every 100 in sales, about β26 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA Β· Gogoro Inc. lost $80.0M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$29.1M in fiscal 2025, β10.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $35.1M of shares on the open market and sold none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$35.1M
1 insider
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 7, 2026 | Chung-Yao YinDirector | Bought | 14,158,991 | $2.48 | $35.1M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Gogoro Inc. owes $290M more than it holds in cash, about 16.4 years of operating profit.
Cash, debt and the ratios that show how comfortably Gogoro Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $217M | $236M | $174M | $117M | $70.6M |
| Debt incl. finance leases | $434M | $381M | $410M | $357M | $361M |
| Net debt / EBITDA | 5.8x | β | 23.6x | β | 16.4x |
| Debt / equity | 3.5x | 1.3x | 1.6x | 2.0x | 3.3x |
| Interest coverage | β5.2x | β23.5x | β7.4x | β10.0x | β5.0x |
| Current ratio | 0.7x | 1.6x | 1.2x | 0.9x | 0.8x |
| Quick ratio | 0.6x | 1.1x | 1.0x | 0.7x | 0.6x |
| Total assets | $844M | $873M | $834M | $700M | $602M |
| Total liabilities | $721M | $574M | $586M | $524M | $493M |
| Shareholders' equity | $124M | $299M | $249M | $177M | $108M |
| Net debt (β = net cash) | $217M | $145M | $236M | $240M | $290M |
KIRA Β· Its return on capital was β14.5%: every 100 invested in the business earned about β15 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Gogoro Inc. passes 5 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 3 / 9 | 4 / 9 | 4 / 9 | 3 / 9 | 5 / 9 |
| Accruals ratio | β | β6.3% | β18.1% | β4.0% | β15.8% | β17.3% | β17.8% |
| Altman Z'' | β | 1.04 | β1.68 | β1.93 | β1.52 | β3.77 | β4.44 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $439M | $364M | $366M | $383M | $350M | $311M | $281M |
| Gross profit | $93.2M | $79.4M | $61.1M | $57.7M | $50.9M | $7.9M | $23.2M |
| Research and development | $27.2M | $28.7M | $30.6M | $46.0M | $40.9M | $34.9M | $25.4M |
| Operating income | β$11.1M | β$36.5M | β$57.3M | β$298M | β$88.4M | β$142M | β$73.3M |
| Interest expense | $9.0M | $9.8M | $11.1M | $12.7M | $11.9M | $14.1M | $14.6M |
| Pretax income | β$12.1M | β$50.3M | β$67.4M | β$98.9M | β$76.0M | β$123M | β$80.0M |
| Income tax | $1.0M | β$1.1M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$13.1M | β$49.3M | β$67.4M | β$98.9M | β$76.0M | β$123M | β$80.0M |
| Diluted EPS | β$0.07 | β$0.25 | β$0.35 | β$0.45 | β$6.48 | β$9.27 | β$5.42 |
| Diluted shares | 0.19B | 0.19B | 0.19B | 0.22B | 0.01B | 0.01B | 0.01B |
| Cash flow | |||||||
| Cash from operations | $25.4M | $0.8M | $80.8M | β$64.8M | $59.1M | $9.9M | $35.9M |
| Capital expenditure | $176M | $144M | $128M | $123M | $118M | $124M | $65.0M |
| Free cash flow | β$151M | β$144M | β$46.9M | β$188M | β$58.7M | β$115M | β$29.1M |
| Depreciation and amortization | $57.2M | $78.6M | $94.8M | $94.8M | $98.4M | $97.0M | $90.9M |
| Stock-based compensation | $0.0M | $0.0M | $5.0M | $37.9M | $26.3M | $11.6M | $2.3M |
| Dividends paid | $0.0M | $1.2M | $7.0M | $2.1M | $0.0M | $0.0M | β |
| Dividends and buybacks | $0.0M | $1.2M | $7.0M | $2.1M | $0.0M | $0.0M | β |
| Balance sheet | |||||||
| Cash and short-term investments | $184M | $119M | $217M | $236M | $174M | $117M | $70.6M |
| Total debt | β | $178M | $434M | $381M | $410M | $357M | $361M |
| Current assets | β | $354M | $358M | $398M | $266M | $203M | $131M |
| Current liabilities | β | $205M | $481M | $248M | $214M | $226M | $172M |
| Inventory | β | $94.5M | $73.1M | $115M | $53.1M | $45.0M | $28.9M |
| Property and equipment, net | $295M | $400M | $453M | $443M | $502M | $438M | $420M |
| Intangible assets | β | $1.7M | $1.4M | β | β | β | β |
| Total assets | β | $791M | $844M | $873M | $834M | $700M | $602M |
| Total liabilities | β | $608M | $721M | $574M | $586M | $524M | $493M |
| Shareholders' equity | $218M | $183M | $124M | $299M | $249M | $177M | $108M |
| Margins | |||||||
| Gross margin | 21.2% | 21.8% | 16.7% | 15.1% | 14.6% | 2.6% | 8.2% |
| Operating margin | β2.5% | β10.0% | β15.7% | β77.9% | β25.3% | β45.6% | β26.0% |
| EBITDA margin | 10.5% | 11.6% | 10.2% | β53.2% | 2.9% | β14.4% | 6.3% |
| Net margin | β3.0% | β13.5% | β18.4% | β25.8% | β21.7% | β39.5% | β28.4% |
| FCF margin | β34.4% | β39.4% | β12.8% | β49.1% | β16.8% | β36.9% | β10.3% |
| Returns | |||||||
| Return on capital | β | β11.9% | β13.3% | β53.1% | β14.4% | β26.9% | β14.5% |
| Return on capital employed | β | β6.2% | β15.8% | β47.7% | β14.2% | β29.8% | β17.1% |
| Return on equity | β6.0% | β24.6% | β43.9% | β46.8% | β27.8% | β57.7% | β56.2% |
| Return on assets | β | β6.2% | β8.2% | β11.5% | β8.9% | β16.0% | β12.3% |
| Return on tangible equity | β6.0% | β27.2% | β55.1% | β33.1% | β30.6% | β69.5% | β73.9% |
| Growth | |||||||
| Revenue growth | β | β17.1% | 0.5% | 4.6% | β8.6% | β11.2% | β9.4% |
| Share count change | β | 0.0% | 0.0% | 14.8% | β94.7% | 12.9% | 11.4% |
| Financial health | |||||||
| Net debt / EBITDA | β | 1.4x | 5.8x | β | 23.6x | β | 16.4x |
| Debt / equity | β | 1.0x | 3.5x | 1.3x | 1.6x | 2.0x | 3.3x |
| Interest coverage | β1.2x | β3.7x | β5.2x | β23.5x | β7.4x | β10.0x | β5.0x |
| Current ratio | β | 1.7x | 0.7x | 1.6x | 1.2x | 0.9x | 0.8x |
| Quick ratio | β | 1.3x | 0.6x | 1.1x | 1.0x | 0.7x | 0.6x |
| Capital allocation | |||||||
| Capex / revenue | 40.1% | 39.6% | 34.9% | 32.2% | 33.7% | 40.1% | 23.1% |
| Stock comp / revenue | 0.0% | 0.0% | 1.4% | 9.9% | 7.5% | 3.7% | 0.8% |
| Quality scores | |||||||
| Piotroski F-score | β | β | 3.0 | 4.0 | 4.0 | 3.0 | 5.0 |
| Altman Z'' | β | 1.0 | β1.7 | β1.9 | β1.5 | β3.8 | β4.4 |
| Accruals ratio | β | β6.3% | β18.1% | β4.0% | β15.8% | β17.3% | β17.8% |
Source: SEC EDGAR XBRL filings (CIK 0001886190). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
