WeRide Inc.

WRD Nasdaq Services-Computer Integrated Systems Design Financials FY2022–FY2025

Last close · Oct 23, 2026

$4.17

1.0%

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Revenue

$95.2M

89.8% vs prior year

Operating margin

−269.8%

335.3 pts

Net income

−$230M

Free cash flow

−$218M

Return on capital

−91.2%

30.4 pts

Market cap

$1.3B

Oct 23 close

P/E

—

On −$0.75 EPS (TTM)

What WeRide Inc. does

No business description yet.

Legal name: WeRide Inc.
Fiscal year ends: December 31, 2025
Latest annual report: 20-F · Apr 23, 2026
Accession · CIK: 0001104659-26-047323
0001867729

Revenue and margins

WeRide Inc. had $95.2M of revenue in fiscal 2025, up 89.8% on the year before.

Revenue

FY22

Revenue $78.4M

FY23

Revenue $56.7M

FY24

Revenue $50.2M

FY25

Revenue $95.2M

Margins, % of revenue

FY22

Gross 44.1%

Operating −147.7%

Net −246.1%

FCF −142.4%

FY23

Gross 45.7%

Operating −389.8%

Net −485.0%

FCF −127.3%

FY24

Gross 30.7%

Operating −605.1%

Net −696.9%

FCF −187.6%

FY25

Gross 30.2%

Operating −269.8%

Net −241.7%

FCF −229.2%

Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income

FY22

Net income −$193M

FY23

Net income −$275M

FY24

Net income −$350M

FY25

Net income −$230M

Diluted EPS

FY22

Diluted EPS −$4.94

FY23

Diluted EPS −$7.14

FY24

Diluted EPS −$3.56

FY25

Diluted EPS −$0.75

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)

FY22

Return on capital —

Return on equity —

Return on assets —

FY23

Return on capital —

Return on equity —

Return on assets −34.8%

FY24

Return on capital −60.8%

Return on equity −129.9%

Return on assets −37.9%

FY25

Return on capital −91.2%

Return on equity −22.0%

Return on assets −19.8%

Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$218M in fiscal 2025, −229.2% of revenue. Cash from operations minus capital spending.

Free cash flow

FY22

Free cash flow −$112M

FY23

Free cash flow −$72.2M

FY24

Free cash flow −$94.2M

FY25

Free cash flow −$218M

Cash from operations vs capital spending

FY22

Cash from operations −$99.6M

Capital spending $12.0M

FY23

Cash from operations −$67.0M

Capital spending $5.2M

FY24

Cash from operations −$82.5M

Capital spending $11.7M

FY25

Cash from operations −$184M

Capital spending $34.4M

Cash from operations Capital spending

Dividends, buybacks and share count

WeRide Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 214.3%.

Dividends and buybacks

FY22

Dividends —

Buybacks —

FY23

Dividends —

Buybacks —

FY24

Dividends —

Buybacks —

FY25

Dividends —

Buybacks —

Dividends Buybacks

Diluted shares outstanding (annual)

FY22

Diluted shares —

FY23

Diluted shares 0.04B

FY24

Diluted shares 0.10B

FY25

Diluted shares 0.31B

Balance sheet

Cash, debt and the ratios that show how comfortably WeRide Inc. can carry it.

Cash vs debt (incl. leases)

FY22

Cash $324M

Debt —

FY23

Cash $234M

Debt $0.0M

FY24

Cash $585M

Debt $11.0M

FY25

Cash $952M

Debt $46.3M

Cash Debt

Fiscal year end	FY22	FY23	FY24	FY25
Cash and short-term investments	$324M	$234M	$585M	$952M
Debt incl. finance leases	—	$0.0M	$11.0M	$46.3M
Debt / equity	—	—	0.0x	0.0x
Interest coverage	−185.4x	−448.8x	−633.2x	−202.3x
Current ratio	—	0.6x	13.4x	8.2x
Quick ratio	—	0.6x	13.1x	7.9x
Total assets	—	$790M	$1.1B	$1.3B
Total liabilities	—	$1.2B	$86.0M	$148M
Shareholders' equity	−$302M	−$430M	$968M	$1.1B
Net debt (− = net cash)	—	−$234M	−$574M	−$906M

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	— / 4	3 / 9	3 / 9
Accruals ratio	—	−26.3%	−29.0%	−4.0%
Altman Z''	—	−9.56	11.98	8.20

4 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

Download CSV

Fiscal year	FY22	FY23	FY24	FY25
Income statement
Revenue	$78.4M	$56.7M	$50.2M	$95.2M
Gross profit	$34.5M	$25.9M	$15.4M	$28.8M
Research and development	$113M	$149M	$152M	$191M
Operating income	−$116M	−$221M	−$304M	−$257M
Interest expense	$0.6M	$0.5M	$0.5M	$1.3M
Pretax income	−$193M	−$275M	−$349M	−$230M
Income tax	$0.0M	$0.4M	$0.8M	$0.6M
Net income	−$193M	−$275M	−$350M	−$230M
Net income to common	−$193M	−$275M	−$350M	−$230M
Diluted EPS	−$4.94	−$7.14	−$3.56	−$0.75
Diluted shares	—	0.04B	0.10B	0.31B
Cash flow
Cash from operations	−$99.6M	−$67.0M	−$82.5M	−$184M
Capital expenditure	$12.0M	$5.2M	$11.7M	$34.4M
Free cash flow	−$112M	−$72.2M	−$94.2M	−$218M
Depreciation and amortization	$12.9M	$12.7M	$14.1M	$23.2M
Stock-based compensation	$48.3M	$132M	$165M	$62.6M
Balance sheet
Cash and short-term investments	$324M	$234M	$585M	$952M
Total debt	—	$0.0M	$11.0M	$46.3M
Current assets	—	$756M	$998M	$1.2B
Current liabilities	—	$1.2B	$74.3M	$143M
Inventory	—	$30.7M	$28.0M	$45.9M
Property and equipment, net	—	$13.9M	$24.4M	$54.1M
Goodwill	—	$6.3M	$6.1M	$6.4M
Intangible assets	—	$3.5M	$3.0M	$2.6M
Total assets	—	$790M	$1.1B	$1.3B
Total liabilities	—	$1.2B	$86.0M	$148M
Shareholders' equity	−$302M	−$430M	$968M	$1.1B
Margins
Gross margin	44.1%	45.7%	30.7%	30.2%
Operating margin	−147.7%	−389.8%	−605.1%	−269.8%
EBITDA margin	−131.3%	−367.5%	−577.1%	−245.4%
Net margin	−246.1%	−485.0%	−696.9%	−241.7%
FCF margin	−142.4%	−127.3%	−187.6%	−229.2%
Returns
Return on capital	—	—	−60.8%	−91.2%
Return on capital employed	—	52.8%	−31.0%	−22.7%
Return on equity	—	—	−129.9%	−22.0%
Return on assets	—	−34.8%	−37.9%	−19.8%
Return on tangible equity	—	—	−36.5%	−20.6%
Growth
Revenue growth	—	−27.6%	−11.5%	89.8%
Share count change	—	—	150.7%	214.3%
Financial health
Debt / equity	—	—	0.0x	0.0x
Interest coverage	−185.4x	−448.8x	−633.2x	−202.3x
Current ratio	—	0.6x	13.4x	8.2x
Quick ratio	—	0.6x	13.1x	7.9x
Capital allocation
Capex / revenue	15.3%	9.1%	23.3%	36.2%
Stock comp / revenue	61.7%	231.9%	328.9%	65.7%
Quality scores
Piotroski F-score	—	—	3.0	3.0
Altman Z''	—	−9.6	12.0	8.2
Accruals ratio	—	−26.3%	−29.0%	−4.0%

Source: SEC EDGAR XBRL filings (CIK 0001867729). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CNY under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 3 ordinary shares). For information only — not investment advice. Check the original filings before relying on any figure.