Cango Inc. (CANG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CANG SEC filings page.
Cango Inc. (CANG) reported $688.1M in revenue for fiscal year 2025, up 524.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Cango’s 2025 revenue recovery did not restore its economics: thin gross profit, heavy operating losses, cash outflow, and higher leverage now define the business.
The earnings-to-cash relationship has repeatedly broken down. In FY2024, Cango reported net income of$42M while operating cash flow was negative$41M ; in FY2025, the reported net loss widened to$622M alongside negative operating cash flow of$110M . The pattern suggests accounting results and cash generation have not moved together, though the direction aligned more closely in FY2025.
Revenue rebounded in FY2025 to
The financing structure became materially tighter. Debt-to-equity rose to
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cango 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.
Cango Inc. earned a return on assets of -54.9% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 5.1% the prior year. Earnings ranks banks on that return over three years, and Cango Inc. scores 5/100 among other banks.
Cango Inc. reported revenue of $688.1M in fiscal year 2025, against $110.2M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Cango Inc. scores 3/100 among other banks.
Cango Inc. funded 35.0% of its assets with shareholders' equity at the end of fiscal year 2025, holding $397.0M of equity against $1.1B of assets. Capital ranks banks on that cushion, and Cango Inc. scores 90/100 among other banks.
Not available for Cango Inc., and counted as zero in the overall score.
Not available for Cango Inc., and counted as zero in the overall score.
Cango Inc. reported a net loss of $622.0M in fiscal year 2025, against $41.7M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Cango Inc. scores 11/100 among other banks.
Cango Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Cango Inc. reported a net loss of $622.0M while operations used $109.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Cango Inc. held $41.2M in cash against $557.6M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
CANG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
CANG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q2'256-K | Q4'2420-F | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B+38.5% | $1.1B | $817.8M+24.9% | $654.7M-35.6% | $1.0B-40.8% | $1.7B-7.7% | $1.9B+48.3% | $1.3B+18.2% |
| Current Assets | $125.1M-73.6% | $762.9M | $473.7M-13.4% | $547.1M-31.0% | $793.1M-33.6% | $1.2B-12.5% | $1.4B+71.4% | $795.9M+15.1% |
| Cash & Equivalents | $41.2M-54.4% | $117.8M | $90.4M-11.6% | $102.3M+86.2% | $54.9M-75.6% | $225.2M+3.0% | $218.7M-24.0% | $287.6M-32.1% |
| Short-Term Investments | $0-100.0% | $0 | $40.1M-55.2% | $89.4M-68.2% | $281.5M-31.0% | $407.8M-38.7% | $665.5M+675.7% | $85.8M+121.9% |
| Accounts Receivable | N/A | $2.2M | $1.6M-82.0% | $9.1M-76.4% | $38.7M+10.3% | $35.1M+61.7% | $21.7M+1.7% | $21.3M+69.6% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $78.7M+85.2% |
| Goodwill | N/A | N/A | N/A | N/A | $20.9M-10.2% | $23.3M+4.9% | $22.2M+6.7% | $20.8M-1.2% |
| Total Liabilities | $735.9M+178.9% | $471.3M | $263.9M+125.3% | $117.1M-70.0% | $390.6M-37.1% | $620.9M+7.4% | $577.9M+24.0% | $466.1M+56.6% |
| Current Liabilities | $176.7M-31.3% | $471.3M | $257.4M+134.9% | $109.5M-70.1% | $366.9M-31.6% | $536.3M+42.4% | $376.6M-9.9% | $417.9M+83.5% |
| Non-Current Liabilities | $559.2M+8441.8% | $1 | $6.5M-13.7% | $7.6M-68.0% | $23.7M-72.0% | $84.6M-58.0% | $201.3M+317.3% | $48.2M-31.0% |
| Long-Term Debt | $557.6M | N/A | N/A | $100K-99.1% | $11.0M-85.6% | $76.3M-49.1% | $149.9M+245.8% | $43.3M-37.0% |
| Total Equity | $397.0M-28.3% | $651.0M | $553.9M+4.0% | $532.8M-14.5% | $623.1M-43.2% | $1.1B-14.5% | $1.3B+63.1% | $786.8M+3.0% |
| Retained Earnings | -$635.5M-4578.2% | -$381.2M | -$13.6M+71.3% | -$47.3M-3679.1% | $1.3M-99.7% | $469.4M-22.6% | $606.2M+395.0% | $122.5M+20.6% |
Not reported in any period shown, so not listed: Inventory.
CANG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
CANG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Cango Inc. CANG | FY2025 | $688.1M | -$622.0M | -90.4% | $156.3M | 18/100 |
| Solowin Holdings SWIN | FY2025 | $30K | -$8.5M | N/A | $614.0M | — |
| BitFuFu Inc. FUFU | FY2025 | $477.5M | -$31.3M | -6.5% | $203.4M | 39/100 |
| A-Mark Precious Metals, Inc. AMRK | FY2025 | $11.0B | $17.3M | 0.2% | $720.8M | 45/100 |
| HIVE Digital Technologies Ltd. HIVE | FY2026 | $297.8M | -$148.4M | -49.9% | $614.4M | 35/100 |
Where Cango Inc. Ranks
Frequently Asked Questions
What is Cango Inc.'s annual revenue?
Cango Inc. (CANG) reported $688.1M in total revenue for fiscal year 2025. This represents a 524.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cango Inc.'s revenue growing?
Cango Inc. (CANG) revenue grew by 524.3% year-over-year, from $110.2M to $688.1M in fiscal year 2025.
Is Cango Inc. profitable?
No, Cango Inc. (CANG) reported a net income of -$622.0M in fiscal year 2025, with a net profit margin of -90.4%.
What is Cango Inc.'s EBITDA?
Cango Inc. (CANG) had EBITDA of -$320.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cango Inc. have?
As of fiscal year 2025, Cango Inc. (CANG) had $41.2M in cash and equivalents against $557.6M in long-term debt.
What is Cango Inc.'s gross margin?
Cango Inc. (CANG) had a gross margin of 4.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cango Inc.'s operating margin?
Cango Inc. (CANG) had an operating margin of -63.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cango Inc.'s net profit margin?
Cango Inc. (CANG) had a net profit margin of -90.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cango Inc.'s return on equity (ROE)?
Cango Inc. (CANG) has a return on equity of -156.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cango Inc.'s free cash flow?
Cango Inc. (CANG) recorded an outflow of $119.2M in free cash flow during fiscal year 2025. This represents a -191.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cango Inc.'s operating cash flow?
Cango Inc. (CANG) recorded an outflow of $109.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Cango Inc.'s total assets?
Cango Inc. (CANG) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cango Inc.'s capital expenditures?
Cango Inc. (CANG) invested $9.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Cango Inc.'s current ratio?
Cango Inc. (CANG) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Cango Inc.'s debt-to-equity ratio?
Cango Inc. (CANG) had a debt-to-equity ratio of 1.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cango Inc.'s return on assets (ROA)?
Cango Inc. (CANG) had a return on assets of -54.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cango Inc.'s P/E ratio?
Cango Inc. (CANG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $156.3M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cango Inc.'s price-to-sales ratio?
Cango Inc. (CANG) trades at 0.2x sales, its market capitalization divided by revenue of $688.1M revenue, FY2025. The market capitalization is $156.3M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cango Inc.'s Piotroski F-Score?
Cango Inc. (CANG) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Cango Inc.'s earnings high quality?
Cango Inc. (CANG) reported a net loss of $622.0M while operations used $109.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Cango Inc.?
Cango Inc. (CANG) scores 18 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.