What is Ezgo Technologies Ltd's earnings per share (EPS)?

Ezgo Technologies Ltd (EZGO) reported diluted earnings per share of -$2.80 for fiscal year 2024. 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.

Ezgo Technologies Ltd Financials

EZGO

FY2024 annual

Revenue $21.1M +32.7% YoY

Net Income -$7.3M -7.4% YoY

EPS (Diluted) -$2.80 YoY not available

Free Cash Flow Not reported for FY2024

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2025, ended Mar 31, 2025 Reported Jul 1, 2025 Currency USD FYE September

Ezgo Technologies Ltd (EZGO) reported $21.1M in revenue for fiscal year 2024, up 32.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 EZGO FY2024 2026-08-15

EZGO’s bottleneck is not demand but thin unit economics and working-capital strain that consume cash.

Even though the operating loss narrowed in FY2024, cash conversion moved the other way as operating cash flow fell to -$10.3M and receivables reached $7.8M. More sales appear to be landing in customer balances rather than liquidity, which helps explain why cash fell to $3.4M despite $8.6M of financing inflow.

Thin-margin product economics are the main operating constraint: gross margin stayed near 7.1%, and FY2024 gross profit of $1.5M covered less than a third of SG&A plus R&D. That points more to a structural spread problem between direct costs and overhead than to a one-year demand interruption. The modest improvement in operating performance therefore looks more like cost discipline than better unit economics, since gross margin was essentially unchanged from FY2023.

Liquidity looks stronger in ratios than in cash: the current ratio was 2.5x, yet cash ended FY2024 at just $3.4M. That would be more comfortable if current liabilities were not already $16.9M and much of the asset base sat outside cash. Debt is not the main pressure point here; working-capital quality is.

Financial Health Signals

Financial Health Score 53/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2024. 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 Ezgo Technologies Ltd'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.

Cash Runway

Dilution

R&D Intensity

Revenue Progress

Burn Trend

Balance Sheet

Altman Z-Score Distress

0.12

Ezgo Technologies Ltd scores 0.12, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

2/9

Ezgo Technologies Ltd passes 2 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Ezgo Technologies Ltd reported a net loss of $7.3M while operations used $10.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Ezgo Technologies Ltd reported an operating loss of $4.2M against $320K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$21.1M

YoY+32.7%

5Y CAGR+72.8%

Ezgo Technologies Ltd generated $21.1M in revenue in fiscal year 2024. This represents an increase of 32.7% from the prior year.

EBITDA

-$3.3M

YoY+9.5%

Ezgo Technologies Ltd's EBITDA was -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.5% from the prior year.

Net Income

-$7.3M

YoY-7.4%

Ezgo Technologies Ltd reported -$7.3M in net income in fiscal year 2024. This represents a decrease of 7.4% from the prior year.

EPS (Diluted)

-$2.80

Ezgo Technologies Ltd earned -$2.80 per diluted share (EPS) in fiscal year 2024.

Cash & Balance Sheet

Cash & Debt

$3.4M

YoY-80.2%

5Y CAGR-1.2%

Ezgo Technologies Ltd held $3.4M in cash against $7.5M in long-term debt as of fiscal year 2024.

Shares Outstanding

Ezgo Technologies Ltd had 6M shares outstanding in fiscal year 2024.

Free Cash Flow

Not reported for fiscal year 2024.

Dividends Per Share

Not reported for fiscal year 2024.

Margins & Returns

Gross Margin

7.1%

YoY0.0pp

5Y CAGR-74.9pp

Ezgo Technologies Ltd's gross margin was 7.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. That is unchanged from the prior year.

Operating Margin

-20.0%

YoY+10.1pp

5Y CAGR-76.5pp

Ezgo Technologies Ltd's operating margin was -20.0% in fiscal year 2024, reflecting core business profitability. This is up 10.1 percentage points from the prior year.

Net Margin

-34.5%

YoY+8.1pp

Ezgo Technologies Ltd's net profit margin was -34.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 8.1 percentage points from the prior year.

Return on Equity

-12.4%

YoY-1.7pp

5Y CAGR-39.1pp

Ezgo Technologies Ltd's ROE was -12.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$894K

YoY+37.0%

Ezgo Technologies Ltd invested $894K in research and development in fiscal year 2024. This represents an increase of 37.0% from the prior year.

Share Buybacks

Not reported for fiscal year 2024.

Capital Expenditures

Not reported for fiscal year 2024.

EZGO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

EZGO quarterly income statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$21.1M+32.7%	$15.9M-8.4%	$17.4M-25.8%	$23.4M+53.7%	$15.2M+1011.7%	$1.4M-57.0%	$3.2M
Cost of Revenue	$19.6M+32.8%	$14.8M-13.9%	$17.2M-25.5%	$23.0M+68.1%	$13.7M+5454.2%	$247K-85.2%	$1.7M
Gross Profit	$1.5M+32.5%	$1.1M+420.2%	$219K-42.7%	$382K-75.1%	$1.5M+36.9%	$1.1M-26.2%	$1.5M
R&D Expenses	$894K+37.0%	$652K-22.3%	$840K	N/A	N/A	N/A	N/A
SG&A Expenses	$4.3M-8.3%	$4.7M-3.6%	$4.8M+78.9%	$2.7M+149.8%	$1.1M+238.3%	$320K-30.3%	$459K
Operating Income	-$4.2M+12.0%	-$4.8M+25.8%	-$6.5M-66.7%	-$3.9M-5487.8%	$72K-90.7%	$776K-26.8%	$1.1M
Interest Expense	$320K+344.2%	$72K-31.6%	$105K+770.8%	$12K-44.2%	$22K+13.1%	$19K+6067.2%	$311
Income Tax	-$786K-1159.3%	-$62K-111.8%	$527K+225.7%	-$419K-461.4%	$116K-57.6%	$274K-4.5%	$287K
Net Income	-$7.3M-7.4%	-$6.8M-4.9%	-$6.5M-89.4%	-$3.4M-1332.7%	$277K-87.4%	$2.2M+245.8%	$634K
EPS (Diluted)	-$2.80	-$5.91	-$18.92	-$0.27-1450.0%	$0.02-91.3%	$0.23	N/A

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21	Q4'20

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).

EZGO Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

EZGO quarterly balance sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$85.4M+4.2%	$81.9M+72.4%	$47.5M+13.1%	$42.0M+112.0%	$19.8M+3.4%	$19.2M	N/A
Current Assets	$41.4M-9.8%	$45.9M+38.5%	$33.2M+19.8%	$27.7M+69.6%	$16.3M-2.3%	$16.7M	N/A
Cash & Equivalents	$3.4M-80.2%	$17.3M+293.0%	$4.4M-8.1%	$4.8M+1380.0%	$323K-91.1%	$3.6M+65136.0%	$6K
Inventory	$523K-36.9%	$829K+117.6%	$381K-58.8%	$924K+6.5%	$868K-69.1%	$2.8M	N/A
Accounts Receivable	$7.8M+106.4%	$3.8M-49.9%	$7.5M+10.1%	$6.8M+8.3%	$6.3M+5381.6%	$115K	N/A
Goodwill	$1.8M-41.8%	$3.1M	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$24.4M+58.0%	$15.4M+10.4%	$14.0M+47.4%	$9.5M-13.5%	$10.9M0.0%	$10.9M	N/A
Current Liabilities	$16.9M+53.0%	$11.0M-21.0%	$14.0M+47.4%	$9.5M+42.0%	$6.7M-2.4%	$6.8M	N/A
Long-Term Debt	$7.5M+70.1%	$4.4M	N/A	N/A	N/A	$7K	N/A
Total Equity	$58.6M-7.6%	$63.4M+106.9%	$30.6M+7.4%	$28.5M+221.5%	$8.9M+7.8%	$8.2M+24.3%	$6.6M
Retained Earnings	-$22.1M-49.5%	-$14.8M-87.3%	-$7.9M	N/A	N/A	N/A	N/A

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21	Q4'20
Total Assets	$78.6M-7.9%	$85.4M+3.3%	$82.6M+0.8%	$81.9M+20.5%	$68.0M+43.0%	$47.5M+13.1%	$42.0M+112.0%	$19.8M
Current Assets	$32.3M-21.9%	$41.4M-20.7%	$52.2M+13.7%	$45.9M+14.3%	$40.2M+21.2%	$33.2M+19.8%	$27.7M+69.6%	$16.3M
Cash & Equivalents	$373K-89.1%	$3.4M+433.3%	$641K-96.3%	$17.3M+656.7%	$2.3M-48.1%	$4.4M-8.1%	$4.8M+1380.0%	$323K
Inventory	$4.8M+816.9%	$523K-87.6%	$4.2M+408.9%	$829K-80.1%	$4.2M+995.6%	$381K-58.8%	$924K+6.5%	$868K
Accounts Receivable	$6.7M-14.6%	$7.8M+83.1%	$4.3M+12.7%	$3.8M-32.5%	$5.6M-25.8%	$7.5M+10.1%	$6.8M+8.3%	$6.3M
Goodwill	$1.7M-3.3%	$1.8M+2.9%	$1.7M-43.4%	$3.1M-39.9%	$5.1M	N/A	N/A	N/A
Total Liabilities	$21.3M-12.7%	$24.4M+22.3%	$19.9M+29.3%	$15.4M-13.7%	$17.9M+28.0%	$14.0M+47.4%	$9.5M-13.5%	$10.9M
Current Liabilities	$14.8M-12.1%	$16.9M+30.0%	$13.0M+17.7%	$11.0M-26.4%	$15.0M+7.4%	$14.0M+47.4%	$9.5M+42.0%	$6.7M
Long-Term Debt	$6.4M-14.0%	$7.5M+8.0%	$6.9M+57.6%	$4.4M	N/A	N/A	N/A	N/A
Total Equity	$55.0M-6.0%	$58.6M-2.6%	$60.1M-5.2%	$63.4M+26.6%	$50.1M+63.4%	$30.6M+7.4%	$28.5M+221.5%	$8.9M
Retained Earnings	-$23.2M-5.1%	-$22.1M-17.3%	-$18.8M-27.4%	-$14.8M-16.5%	-$12.7M-60.8%	-$7.9M	N/A	N/A

EZGO Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

EZGO quarterly cash flow statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$10.3M-445.0%	-$1.9M+81.7%	-$10.4M-65.5%	-$6.3M-255.4%	$4.0M+248.9%	-$2.7M-383.7%	$952K
Capital Expenditures	N/A	N/A	N/A	$6.7M+186.8%	$2.3M+86.8%	$1.3M+2883.5%	$42K
Free Cash Flow	N/A	N/A	N/A	-$13.0M-872.6%	$1.7M+142.5%	-$4.0M-534.7%	$910K
Investing Cash Flow	-$11.2M+46.9%	-$21.2M-372.9%	-$4.5M+59.4%	-$11.0M-229.5%	-$3.3M-74.3%	-$1.9M-3538.4%	-$53K
Financing Cash Flow	$8.6M-76.1%	$36.2M+153.9%	$14.2M-37.4%	$22.8M+668.5%	-$4.0M-148.7%	$8.2M+1021.2%	-$892K

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21	Q4'20

Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

EZGO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

EZGO quarterly financial ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	7.1%0.0pp	7.2%+5.9pp	1.3%-0.4pp	1.6%-8.5pp	10.1%-71.9pp	82.0%+34.3pp	47.7%
Operating Margin	-20.0%+10.1pp	-30.1%+7.1pp	-37.2%-20.6pp	-16.6%-17.0pp	0.5%-56.1pp	56.6%+23.4pp	33.2%
Net Margin	-34.5%+8.1pp	-42.6%-5.4pp	-37.2%-22.6pp	-14.6%-16.4pp	1.8%	159.8%	19.9%
Return on Equity	-12.4%-1.7pp	-10.7%+10.4pp	-21.1%-9.1pp	-12.0%-15.1pp	3.1%-23.5pp	26.6%+17.1pp	9.6%
Return on Assets	-8.5%-0.3pp	-8.3%+5.3pp	-13.6%-5.5pp	-8.1%-9.5pp	1.4%-10.0pp	11.4%	N/A
Current Ratio	2.45-1.7x	4.16+1.8x	2.37-0.5x	2.92+0.5x	2.450.0x	2.44	N/A
Debt-to-Equity	0.13+0.1x	0.07-0.4x	0.46+0.1x	0.33-0.9x	1.23+1.2x	0.00	N/A
FCF Margin	N/A	N/A	N/A	-55.4%-66.4pp	11.0%	-288.6%	28.5%

Metric	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21	Q4'20
Current Ratio	2.18-0.3x	2.45-1.6x	4.02-0.1x	4.16+1.5x	2.68+0.3x	2.37-0.5x	2.92+0.5x	2.45
Debt-to-Equity	0.120.0x	0.130.0x	0.120.0x	0.07-0.3x	0.36-0.1x	0.46+0.1x	0.33-0.9x	1.23

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.

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Where Ezgo Technologies Ltd Ranks

Frequently Asked Questions

What is Ezgo Technologies Ltd's annual revenue?

Ezgo Technologies Ltd (EZGO) reported $21.1M in total revenue for fiscal year 2024. This represents a 32.7% 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 Ezgo Technologies Ltd's revenue growing?

Ezgo Technologies Ltd (EZGO) revenue grew by 32.7% year-over-year, from $15.9M to $21.1M in fiscal year 2024.

Is Ezgo Technologies Ltd profitable?

No, Ezgo Technologies Ltd (EZGO) reported a net income of -$7.3M in fiscal year 2024, with a net profit margin of -34.5%.

What is Ezgo Technologies Ltd's EBITDA?

Ezgo Technologies Ltd (EZGO) had EBITDA of -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Ezgo Technologies Ltd have?

As of fiscal year 2024, Ezgo Technologies Ltd (EZGO) had $3.4M in cash and equivalents against $7.5M in long-term debt.

What is Ezgo Technologies Ltd's gross margin?

Ezgo Technologies Ltd (EZGO) had a gross margin of 7.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ezgo Technologies Ltd's operating margin?

Ezgo Technologies Ltd (EZGO) had an operating margin of -20.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Ezgo Technologies Ltd's net profit margin?

Ezgo Technologies Ltd (EZGO) had a net profit margin of -34.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Ezgo Technologies Ltd's return on equity (ROE)?

Ezgo Technologies Ltd (EZGO) has a return on equity of -12.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Ezgo Technologies Ltd's operating cash flow?

Ezgo Technologies Ltd (EZGO) recorded an outflow of $10.3M in operating cash flow during fiscal year 2024, representing cash used by core business activities.

What are Ezgo Technologies Ltd's total assets?

Ezgo Technologies Ltd (EZGO) had $85.4M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Ezgo Technologies Ltd spend on research and development?

Ezgo Technologies Ltd (EZGO) invested $894K in research and development during fiscal year 2024.

How many shares does Ezgo Technologies Ltd have outstanding?

Ezgo Technologies Ltd (EZGO) had 6M shares outstanding as of fiscal year 2024.

What is Ezgo Technologies Ltd's current ratio?

Ezgo Technologies Ltd (EZGO) had a current ratio of 2.45 as of fiscal year 2024, which is generally considered healthy.

What is Ezgo Technologies Ltd's debt-to-equity ratio?

Ezgo Technologies Ltd (EZGO) had a debt-to-equity ratio of 0.13 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ezgo Technologies Ltd's return on assets (ROA)?

Ezgo Technologies Ltd (EZGO) had a return on assets of -8.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

How does Ezgo Technologies Ltd's liquidity compare with its operating cash outflow?

At the end of fiscal year 2024, Ezgo Technologies Ltd (EZGO) held $23.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $10.3M over that year. Dividing the one by the other, the reported balance equals about 27 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Ezgo Technologies Ltd's Altman Z-Score?

Ezgo Technologies Ltd (EZGO) has an Altman Z-Score of 0.12, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Ezgo Technologies Ltd's Piotroski F-Score?

Ezgo Technologies Ltd (EZGO) has a Piotroski F-Score of 2 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 Ezgo Technologies Ltd's earnings high quality?

Ezgo Technologies Ltd (EZGO) reported a net loss of $7.3M while operations used $10.3M 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.

Can Ezgo Technologies Ltd cover its interest payments?

Ezgo Technologies Ltd (EZGO) reported an operating loss of $4.2M against $320K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ezgo Technologies Ltd?

Ezgo Technologies Ltd (EZGO) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.