CAASNasdaqMotor Vehicle Parts & AccessoriesFiscal year ends December 31
China Automotive Systems, Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 22, 2026
$4.54+0.03 (+0.67%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 3.2
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
19.0%+5.7 pts over 5 years
Operating margin
7.0%+9.0 pts over 5 years
Net margin
5.6%+6.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +17.6% | +13.1% | +12.9% | +5.6% | |
| Gross profit | +33.2% | +20.4% | +21.3% | +6.2% | |
| Operating income | +33.2% | +88.9% | – | +6.1% | |
| Net income | +42.9% | +26.5% | – | +4.6% | |
| EPS, diluted | +43.4% | +27.2% | – | +5.3% | |
| Free cash flow | – | +39.0% | +12.3% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 7.5% | -1.7% | 11.4% | |
| Return on assets | 3.6% | -0.7% | 4.6% | |
| Current ratio | 1.47 | 1.34 | 1.36 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | 35.1× | -5.1× | 31.5× | |
| Inventory turnover | 5.7× | 4.2× | 5.2× | |
| Capex to revenue | 8.6% | 3.8% | 4.9% | |
| Diluted shares | 32M | 31M | 30M |
Where the cash went
Fiscal 2021 to 2025, five years combined
China Automotive Systems generated $217.61M from operations and spent $155.76M on capital expenditure, dividends and share buybacks. 83% of that went back into the business.
Generated
$217.61M
Used
$155.76M
Capital expenditure$128.64M83%Dividends$24.62M16%Share buybacks$2.50M2%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.6%
×Asset turnover0.83×
×Equity multiplier2.47×
=Return on equity, FY202511.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.6% | 0.83× | 2.47× | 11.4% |
| FY2024 | 4.6% | 0.81× | 2.33× | 8.6% |
| FY2023 | 6.5% | 0.78× | 2.26× | 11.5% |
| FY2022 | 4.0% | 0.74× | 2.26× | 6.7% |
| FY2021 | 2.2% | 0.70× | 2.28× | 3.5% |
| FY2020 | -1.2% | 0.61× | 2.31× | -1.7% |
| FY2019 | 2.3% | 0.64× | 2.35× | 3.5% |
| FY2018 | 0.5% | 0.70× | 2.41× | 0.8% |
| FY2017 | -3.9% | 0.74× | 2.25× | -6.4% |
| FY2016 | 4.9% | 0.75× | 2.07× | 7.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$42.84M
- Cash generatingOperating cash flow above zero$111.63M
- Return on assets improvedROA up on the prior year3.9% → 5.0%
- Earnings backed by cashOperating cash flow above net income$111.63M vs $42.84M
- Less leverageLong-term debt to assets fell0.0% → –
- Better liquidityCurrent ratio rose1.32 → 1.36
- No dilutionShare count did not rise30M → 30M
- Gross margin improvedGross margin up on the prior year16.77% → 19.00%
- More efficientAsset turnover rose0.85 → 0.90