Kandi Technologies Group, Inc.
KNDI Nasdaq Motor Vehicle Parts & Accessories Financials FY2022–FY2025
What Kandi Technologies Group, Inc. does
No business description yet.
- Legal name
- Kandi Technologies Group, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 28, 2026
- Accession · CIK
- 0001213900-26-048312
0001720250
Revenue and margins
Kandi Technologies Group, Inc. had $87.4M of revenue in fiscal 2025, down 31.5% on the year before.
Net income and earnings per share
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 — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Kandi Technologies Group, Inc. returned — to shareholders in fiscal 2025. The diluted share count fell 3.1%.
Balance sheet
Cash, debt and the ratios that show how comfortably Kandi Technologies Group, Inc. can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $84.1M | $33.8M | $37.3M | $35.5M |
| Debt incl. finance leases | — | $17.5M | $43.6M | $36.9M |
| Debt / equity | — | 0.0x | 0.1x | 0.1x |
| Interest coverage | −39.1x | −9.8x | −31.3x | −30.3x |
| Current ratio | — | 4.5x | 2.9x | 2.3x |
| Quick ratio | — | 3.7x | 2.5x | 2.1x |
| Total assets | — | $495M | $474M | $400M |
| Total liabilities | — | $88.9M | $127M | $130M |
| Shareholders' equity | $398M | $404M | $345M | $270M |
| Net debt (− = net cash) | — | −$16.3M | $6.3M | $1.3M |
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 | FY22 | 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 | 2 / 9 | 4 / 9 |
| Accruals ratio | — | 20.4% | −6.7% | −43.7% |
| Altman Z'' | — | 8.02 | 4.65 | 2.75 |
4 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $118M | $124M | $128M | $87.4M |
| Gross profit | $19.5M | $41.4M | $39.3M | $37.3M |
| Research and development | $6.0M | $4.3M | $5.0M | $7.6M |
| Operating income | −$27.7M | −$13.1M | −$68.8M | −$57.2M |
| Interest expense | $0.7M | $1.3M | $2.2M | $1.9M |
| Pretax income | −$13.3M | $3.5M | −$56.1M | −$91.6M |
| Income tax | −$0.5M | $1.8M | −$5.1M | $3.9M |
| Net income | −$12.1M | $0.0M | −$50.5M | −$93.9M |
| Diluted EPS | −$0.17 | $0.02 | −$0.59 | −$1.14 |
| Diluted shares | 0.08B | 0.08B | 0.09B | 0.08B |
| Cash flow | ||||
| Cash from operations | $31.5M | −$101M | −$17.8M | $96.8M |
| Depreciation and amortization | $12.4M | $11.9M | $12.0M | $5.7M |
| Stock-based compensation | $1.9M | $11.1M | $7.1M | $7.1M |
| Acquisitions | — | −$0.3M | $0.2M | — |
| Share buybacks | $7.5M | $0.5M | $3.9M | — |
| Dividends and buybacks | $7.5M | $0.5M | $3.9M | — |
| Balance sheet | ||||
| Cash and short-term investments | $84.1M | $33.8M | $37.3M | $35.5M |
| Total debt | — | $17.5M | $43.6M | $36.9M |
| Deposits | — | — | — | $14.0M |
| Current assets | — | $344M | $355M | $301M |
| Current liabilities | — | $76.7M | $120M | $128M |
| Inventory | — | $61.6M | $51.3M | $26.4M |
| Property and equipment, net | — | $98.8M | $63.5M | $58.6M |
| Goodwill | — | $33.1M | $31.2M | $22.5M |
| Intangible assets | — | $6.4M | $3.9M | $0.3M |
| Total assets | — | $495M | $474M | $400M |
| Total liabilities | — | $88.9M | $127M | $130M |
| Shareholders' equity | $398M | $404M | $345M | $270M |
| Margins | ||||
| Gross margin | 16.6% | 33.5% | 30.8% | 42.6% |
| Operating margin | −23.5% | −10.6% | −53.9% | −65.4% |
| EBITDA margin | −12.9% | −0.9% | −44.5% | −58.9% |
| Net margin | −10.3% | 0.0% | −39.6% | −107.4% |
| Returns | ||||
| Return on capital | — | −2.2% | −15.5% | −16.6% |
| Return on capital employed | — | −3.1% | −19.5% | −21.1% |
| Return on equity | −3.0% | 0.0% | −13.5% | −30.5% |
| Return on assets | — | 0.0% | −10.4% | −21.5% |
| Return on tangible equity | −3.0% | 0.0% | −16.3% | −38.0% |
| Growth | ||||
| Revenue growth | — | 4.9% | 3.2% | −31.5% |
| Net income growth | — | — | −711,307.0% | — |
| EPS growth | — | — | −3,050.0% | — |
| Share count change | — | 5.7% | 8.0% | −3.1% |
| Financial health | ||||
| Debt / equity | — | 0.0x | 0.1x | 0.1x |
| Interest coverage | −39.1x | −9.8x | −31.3x | −30.3x |
| Current ratio | — | 4.5x | 2.9x | 2.3x |
| Quick ratio | — | 3.7x | 2.5x | 2.1x |
| Capital allocation | ||||
| Stock comp / revenue | 1.6% | 8.9% | 5.6% | 8.1% |
| Quality scores | ||||
| Piotroski F-score | — | — | 2.0 | 4.0 |
| Altman Z'' | — | 8.0 | 4.7 | 2.7 |
| Accruals ratio | — | 20.4% | −6.7% | −43.7% |
Source: SEC EDGAR XBRL filings (CIK 0001720250). 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.