Kandi Technologies Group, Inc. Financials
Kandi Technologies Group, Inc. (KNDI) reported $87.4M in revenue for fiscal year 2025, down 31.5% from the prior fiscal year. This page shows its 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).
Revenue contraction is being overwhelmed by fixed operating costs, producing deeper losses despite a wider gross margin.
Cash conversion diverged sharply from earnings: FY2025 reported operating cash flow of$96.8M contrasted with a net loss of-$93.9M , after operating cash flow was-$17.8M in FY2024. The reversal coincided with lower inventory and receivables alongside higher current liabilities, suggesting balance-sheet movements—not profitable operations—drove much of the cash improvement.
Gross margin expanded to
The balance sheet remains lightly debt-funded, with debt-to-equity of 0.0x, yet equity fell to
Financial Health Signals
Scored against emerging companies 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 Kandi Technologies Group, 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.
Kandi Technologies Group, Inc. scores -0.01, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($61.9M) relative to total liabilities ($129.6M). 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.
Kandi Technologies Group, Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Kandi Technologies Group, Inc. reported a net loss of $93.9M while generating $96.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Kandi Technologies Group, Inc. reported an operating loss of $57.2M against $1.9M 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
Earnings & Revenue
Kandi Technologies Group, Inc. generated $87.4M in revenue in fiscal year 2025. This represents a decrease of 31.5% from the prior year.
Kandi Technologies Group, Inc.'s EBITDA was -$51.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.3% from the prior year.
Kandi Technologies Group, Inc. reported -$93.9M in net income in fiscal year 2025. This represents a decrease of 85.9% from the prior year.
Kandi Technologies Group, Inc. earned -$1.14 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 93.2% from the prior year.
Cash & Balance Sheet
Kandi Technologies Group, Inc. held $35.5M in cash against $6.1M in long-term debt as of fiscal year 2025, with $128.4M of liabilities due within a year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Kandi Technologies Group, Inc.'s gross margin was 42.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 11.9 percentage points from the prior year.
Kandi Technologies Group, Inc.'s operating margin was -65.4% in fiscal year 2025, reflecting core business profitability. This is down 11.5 percentage points from the prior year.
Kandi Technologies Group, Inc.'s ROE was -34.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.1 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Kandi Technologies Group, Inc. invested $7.6M in research and development in fiscal year 2025. This represents an increase of 52.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
KNDI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|
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).
KNDI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Total Assets | $399.7M-15.7% | $473.9M-4.4% | $495.5M |
| Current Assets | $301.1M-15.1% | $354.6M+3.2% | $343.5M |
| Cash & Equivalents | $35.5M-4.8% | $37.3M+10.5% | $33.8M |
| Inventory | $26.4M-48.6% | $51.3M-16.7% | $61.6M |
| Accounts Receivable | $22.5M-15.1% | $26.5M+39.6% | $19.0M |
| Goodwill | $22.5M-27.9% | $31.2M-5.9% | $33.1M |
| Total Liabilities | $129.6M+1.8% | $127.3M+43.1% | $88.9M |
| Current Liabilities | $128.4M+6.7% | $120.4M+57.0% | $76.7M |
| Long-Term Debt | $6.1M+6.9% | $5.7M-32.0% | $8.4M |
| Total Equity | $270.1M-21.7% | $344.7M-14.7% | $404.1M |
| Retained Earnings | -$160.7M-140.5% | -$66.8M-309.2% | -$16.3M |
KNDI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|
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.
KNDI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q4'24 | Q4'23 |
|---|---|---|---|
| Current Ratio | 2.34-0.6x | 2.95-1.5x | 4.48 |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.02 |
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 Kandi Technologies Group, Inc. Ranks
Frequently Asked Questions
What is Kandi Technologies Group, Inc.'s annual revenue?
Kandi Technologies Group, Inc. (KNDI) reported $87.4M in total revenue for fiscal year 2025. This represents a -31.5% 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 Kandi Technologies Group, Inc.'s revenue growing?
Kandi Technologies Group, Inc. (KNDI) revenue declined by 31.5% year-over-year, from $127.6M to $87.4M in fiscal year 2025.
Is Kandi Technologies Group, Inc. profitable?
No, Kandi Technologies Group, Inc. (KNDI) reported a net income of -$93.9M in fiscal year 2025.
What is Kandi Technologies Group, Inc.'s EBITDA?
Kandi Technologies Group, Inc. (KNDI) had EBITDA of -$51.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Kandi Technologies Group, Inc. have?
As of fiscal year 2025, Kandi Technologies Group, Inc. (KNDI) had $35.5M in cash and equivalents against $6.1M in long-term debt.
What is Kandi Technologies Group, Inc.'s gross margin?
Kandi Technologies Group, Inc. (KNDI) had a gross margin of 42.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Kandi Technologies Group, Inc.'s operating margin?
Kandi Technologies Group, Inc. (KNDI) had an operating margin of -65.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kandi Technologies Group, Inc.'s return on equity (ROE)?
Kandi Technologies Group, Inc. (KNDI) has a return on equity of -34.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kandi Technologies Group, Inc.'s operating cash flow?
Kandi Technologies Group, Inc. (KNDI) generated $96.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kandi Technologies Group, Inc.'s total assets?
Kandi Technologies Group, Inc. (KNDI) had $399.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Kandi Technologies Group, Inc. spend on research and development?
Kandi Technologies Group, Inc. (KNDI) invested $7.6M in research and development during fiscal year 2025.
What is Kandi Technologies Group, Inc.'s current ratio?
Kandi Technologies Group, Inc. (KNDI) had a current ratio of 2.34 as of fiscal year 2025, which is generally considered healthy.
What is Kandi Technologies Group, Inc.'s debt-to-equity ratio?
Kandi Technologies Group, Inc. (KNDI) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kandi Technologies Group, Inc.'s return on assets (ROA)?
Kandi Technologies Group, Inc. (KNDI) had a return on assets of -23.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kandi Technologies Group, Inc.'s Altman Z-Score?
Kandi Technologies Group, Inc. (KNDI) has an Altman Z-Score of -0.01, 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 Kandi Technologies Group, Inc.'s Piotroski F-Score?
Kandi Technologies Group, Inc. (KNDI) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Kandi Technologies Group, Inc.'s earnings high quality?
Kandi Technologies Group, Inc. (KNDI) reported a net loss of $93.9M while generating $96.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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 Kandi Technologies Group, Inc. cover its interest payments?
Kandi Technologies Group, Inc. (KNDI) reported an operating loss of $57.2M against $1.9M 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 Kandi Technologies Group, Inc.?
Kandi Technologies Group, Inc. (KNDI) scores 56 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.