What is Thunder Power Holdings, Inc.'s earnings per share (EPS)?

Thunder Power Holdings, Inc. (AIEV) reported diluted earnings per share of $-0.04 for fiscal year 2025. This represents a 33.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Thunder Power Holdings, Inc. Financials

AIEV

Source SEC Filings (10-K/10-Q) Updated May 22, 2026 Currency USD FYE December

This page shows Thunder Power Holdings, Inc. (AIEV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AIEV FY2025 2026-05-22

External financing is covering operating cash burn as cash falls to $10K and leverage rises.

Between FY2024 and FY2025, net loss narrowed by about $383K while operating cash burn deepened by about $287K. That mismatch means the income statement looked slightly better even as the business consumed more day-to-day cash; with only cash on hand of $10K, FY2025 still needed external funding of $1.5M to bridge operations.

The current ratio looks passable, but it is not backed by cash: only $10K sat against $8.4M of current liabilities. Most short-term liquidity therefore sits in other current assets, so the apparent liquidity buffer depends on conversion or financing support rather than on an immediate cash cushion.

Even though SG&A spending fell from $2.5M to $1.9M, the balance-sheet cushion still weakened. Debt-to-equity rose from 1.1x to 1.7x as liabilities increased and equity fell, showing that cost cuts slowed losses but did not stop the capital base from being worn down.

Financial Health Signals

Financial Profile 16/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Thunder Power Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Thunder Power Holdings, Inc. carries a low D/E ratio of 1.74, meaning only $1.74 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Thunder Power Holdings, Inc.'s current ratio of 1.57 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

Thunder Power Holdings, Inc. generates a -44.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -38.4% the prior year.

Piotroski F-Score Weak

3/9

Thunder Power Holdings, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.71x

For every $1 of reported earnings, Thunder Power Holdings, Inc. generates $0.71 in operating cash flow (-$1.5M OCF vs -$2.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$2.1M

YoY+15.3%

Thunder Power Holdings, Inc. reported -$2.1M in net income in fiscal year 2025. This represents an increase of 15.3% from the prior year.

EPS (Diluted)

$-0.04

YoY+33.3%

Thunder Power Holdings, Inc. earned $-0.04 per diluted share (EPS) in fiscal year 2025. This represents an increase of 33.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$10K

YoY-80.8%

Thunder Power Holdings, Inc. held $10K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

51M

YoY+0.0%

Thunder Power Holdings, Inc. had 51M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-44.0%

YoY-5.6pp

Thunder Power Holdings, Inc.'s ROE was -44.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

AIEV Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$1.9M-23.4%	$2.5M+37.9%	$1.8M	N/A
Operating Income	N/A	N/A	-$1.2M-145.8%	-$508K
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	$1.1M+172.0%	$396K
Net Income	-$2.1M+15.3%	-$2.5M-37.8%	-$1.8M-548.7%	$405K
EPS (Diluted)	$-0.04+33.3%	$-0.06-20.0%	$-0.05-107.5%	$0.67

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$431K	N/A	$428K-14.9%	$503K-33.3%	$755K	N/A	$912K-32.3%	$1.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$494K	N/A	-$428K+15.0%	-$504K+33.3%	-$755K	N/A	-$912K+32.3%	-$1.3M
EPS (Diluted)	$-0.01	N/A	$-0.010.0%	$-0.01+50.0%	$-0.02	N/A	$-0.02+33.3%	$-0.03

AIEV Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$13.2M-2.8%	$13.6M+977.9%	$1.3M-98.8%	$101.2M
Current Assets	$13.2M-2.9%	$13.6M+984.1%	$1.2M+74.8%	$715K
Cash & Equivalents	$10K-80.8%	$53K-73.3%	$197K-64.0%	$547K
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$8.4M+18.8%	$7.0M+829.7%	$756K-99.3%	$101.8M
Current Liabilities	$8.4M+18.8%	$7.0M+829.7%	$756K+38.8%	$545K
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$4.8M-26.2%	$6.5M+1201.3%	$501K+196.4%	-$520K
Retained Earnings	-$39.1M-5.7%	-$36.9M-7.3%	-$34.4M-1130.4%	-$2.8M

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$13.2M-0.1%	$13.2M-2.5%	$13.5M-0.7%	$13.6M+0.7%	$13.5M-0.3%	$13.6M+0.4%	$13.5M-7.3%	$14.6M
Current Assets	$13.1M-0.1%	$13.2M-2.5%	$13.5M-0.7%	$13.6M+0.7%	$13.5M-0.5%	$13.6M+0.5%	$13.5M-7.3%	$14.5M
Cash & Equivalents	$10K0.0%	$10K-38.6%	$16K-83.1%	$97K+391.9%	$20K-62.3%	$53K+56.4%	$34K-96.3%	$921K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$8.8M+5.7%	$8.4M+1.1%	$8.3M-1.0%	$8.3M+7.7%	$7.7M+10.2%	$7.0M+1.2%	$6.9M-1.6%	$7.1M
Current Liabilities	$8.8M+5.7%	$8.4M+1.2%	$8.3M-0.9%	$8.3M+7.8%	$7.7M+10.0%	$7.0M+1.2%	$6.9M-1.6%	$7.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.3M-10.2%	$4.8M-8.2%	$5.2M-0.3%	$5.3M-8.8%	$5.8M-11.6%	$6.5M-0.4%	$6.6M-12.7%	$7.5M
Retained Earnings	-$39.5M-1.3%	-$39.1M-1.1%	-$38.6M-1.1%	-$38.2M-1.3%	-$37.7M-2.0%	-$36.9M-0.1%	-$36.9M-2.5%	-$36.0M

AIEV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	-$1.5M-23.4%	-$1.2M-86.3%	-$659K-24.7%	-$528K
Capital Expenditures	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1K-100.2%	$929K	N/A	-$99.2M
Financing Cash Flow	$1.5M+858.8%	$154K-74.6%	$605K-99.4%	$100.3M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$353K-142.4%	-$146K+59.8%	-$363K	N/A	N/A	-$623K-71.3%	-$364K-99.0%	-$183K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1K	$0	$0	N/A	N/A	-$1K	$0-100.0%	$1.2M
Financing Cash Flow	$350K+150.0%	$140K-50.3%	$282K	N/A	N/A	$591K+212.7%	-$525K-99.3%	-$263K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AIEV Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	-44.0%-5.6pp	-38.4%+323.8pp	-362.2%	N/A
Return on Assets	-16.1%+2.4pp	-18.5%+125.9pp	-144.4%-144.8pp	0.4%
Current Ratio	1.57-0.4	1.93+0.3	1.65+0.3	1.31
Debt-to-Equity	1.74+0.7	1.08-0.4	1.51+197.3	-195.76
FCF Margin	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-11.4%	N/A	-8.2%+1.4pp	-9.6%+3.5pp	-13.1%	N/A	-13.9%+4.0pp	-18.0%
Return on Assets	-3.8%	N/A	-3.2%+0.5pp	-3.7%+1.9pp	-5.6%	N/A	-6.8%+2.5pp	-9.3%
Current Ratio	1.49-0.1	1.57-0.1	1.630.0	1.63-0.1	1.74-0.2	1.93-0.0	1.94-0.1	2.06
Debt-to-Equity	2.04+0.3	1.74+0.2	1.57-0.0	1.59+0.2	1.34+0.3	1.08+0.0	1.06+0.1	0.94
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Thunder Power Holdings, Inc. profitable?

No, Thunder Power Holdings, Inc. (AIEV) reported a net income of -$2.1M in fiscal year 2025.

What is Thunder Power Holdings, Inc.'s return on equity (ROE)?

Thunder Power Holdings, Inc. (AIEV) has a return on equity of -44.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Thunder Power Holdings, Inc.'s operating cash flow?

Thunder Power Holdings, Inc. (AIEV) generated -$1.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Thunder Power Holdings, Inc.'s total assets?

Thunder Power Holdings, Inc. (AIEV) had $13.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Thunder Power Holdings, Inc. have outstanding?

Thunder Power Holdings, Inc. (AIEV) had 51M shares outstanding as of fiscal year 2025.

What is Thunder Power Holdings, Inc.'s current ratio?

Thunder Power Holdings, Inc. (AIEV) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.

What is Thunder Power Holdings, Inc.'s debt-to-equity ratio?

Thunder Power Holdings, Inc. (AIEV) had a debt-to-equity ratio of 1.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Thunder Power Holdings, Inc.'s return on assets (ROA)?

Thunder Power Holdings, Inc. (AIEV) had a return on assets of -16.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Thunder Power Holdings, Inc.'s cash runway?

Based on fiscal year 2025 data, Thunder Power Holdings, Inc. (AIEV) had $10K in cash against an annual operating cash burn of $1.5M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Thunder Power Holdings, Inc.'s Piotroski F-Score?

Thunder Power Holdings, Inc. (AIEV) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Thunder Power Holdings, Inc.'s earnings high quality?

Thunder Power Holdings, Inc. (AIEV) has an earnings quality ratio of 0.71x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Thunder Power Holdings, Inc.?

Thunder Power Holdings, Inc. (AIEV) scores 16 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.