Niu Technologies (NIU) 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 6, 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 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NIU SEC filings page.
Niu Technologies (NIU) reported $616.0M in revenue for fiscal year 2025, up 36.7% 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).
Niu's 2025 rebound restored cash generation and narrowed losses, but it relied on a more heavily liability-funded balance sheet.
Cash conversion changed sharply: operating cash flow rose from$7.2M in FY2024 to$50.5M in FY2025 while the company still reported a net loss. That combination indicates non-cash expenses and working-capital movements, rather than accounting profit, drove the year's cash improvement.
Margin recovery accompanied the sales rebound: gross margin improved from
Financing pressure increased despite better cash generation: debt-to-equity reached 2.3x while the current ratio slipped to 1.2x, leaving less short-term balance-sheet flexibility. Positive free cash flow after
Financial Health Signals
Scored against operating 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 Niu Technologies'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.
Niu Technologies has an operating margin of -2.1%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 22/100. This is up from -7.6% the prior year.
Niu Technologies's revenue surged 36.7% year-over-year to $616.0M, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Niu Technologies has elevated debt relative to equity (D/E of 2.26), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.
Niu Technologies's current ratio of 1.18 is below the typical benchmark, resulting in a score of 28/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Niu Technologies has a free cash flow margin of 4.1%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.
Niu Technologies posts a -4.3% return on equity (ROE), meaning it loses $4 for every $100 of shareholders' equity. This results in a returns score of 15/100. This is up from -20.8% the prior year.
Niu Technologies scores 1.30, 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.
Niu Technologies passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Niu Technologies reported a net loss of $5.6M while generating $50.5M 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.
Niu Technologies reported an operating loss of $12.6M against $877K 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
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Niu Technologies held $132.2M in cash as of Q4 2025; long-term debt is not reported for that period.
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.
NIU 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).
NIU 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 | Q4'2410-K | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K | Q4'1810-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $421.9M+17.8% | $358.0M+16.1% | $308.4M-16.2% | $367.8M-4.0% | $383.1M+35.3% | $283.0M+30.4% | $217.0M+25.9% | $172.4M |
| Current Assets | $337.5M+13.5% | $297.3M+19.9% | $248.0M-15.0% | $291.7M-1.9% | $297.5M+25.4% | $237.2M+25.9% | $188.4M+15.7% | $162.9M |
| Cash & Equivalents | $132.2M+53.2% | $86.3M-29.8% | $122.9M+58.7% | $77.5M+136.9% | $32.7M-47.3% | $62.1M-19.3% | $76.9M-28.5% | $107.5M |
| Short-Term Investments | $9.0M | $0 | $0-100.0% | $23.3M-80.8% | $121.4M+6.2% | $114.3M+156.3% | $44.6M+155.0% | $17.5M |
| Inventory | $93.3M+4.9% | $88.9M+60.8% | $55.3M-8.5% | $60.5M+42.9% | $42.3M+94.2% | $21.8M-15.1% | $25.7M+23.9% | $20.7M |
| Accounts Receivable | $5.3M-70.4% | $18.1M+35.1% | $13.4M-69.2% | $43.5M+3.1% | $42.1M+171.4% | $15.5M-6.2% | $16.6M+109.1% | $7.9M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $292.5M+26.9% | $230.4M+49.3% | $154.3M-13.2% | $177.8M-3.7% | $184.6M+41.2% | $130.8M+26.6% | $103.3M+15.5% | $89.4M |
| Current Liabilities | $286.4M+26.6% | $226.3M+50.0% | $150.8M-12.8% | $172.9M-2.4% | $177.2M+40.4% | $126.2M+26.7% | $99.6M+14.7% | $86.8M |
| Non-Current Liabilities | $6.0M+47.4% | $4.1M+17.5% | $3.5M-28.9% | $4.9M-34.3% | $7.5M+61.4% | $4.6M+24.8% | $3.7M+42.8% | $2.6M |
| Total Equity | $129.4M+1.4% | $127.6M-17.2% | $154.0M-18.9% | $189.9M-4.3% | $198.4M+30.3% | $152.2M+33.9% | $113.7M+37.0% | $83.0M |
| Retained Earnings | -$156.4M-8.3% | -$144.4M-19.1% | -$121.3M-42.0% | -$85.4M-0.9% | -$84.7M-172.2% | $117.3M+187.4% | -$134.2M+17.9% | -$163.5M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
NIU 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.
NIU 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.
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 |
|---|---|---|---|---|---|---|
| Niu Technologies NIU | FY2025 | $616.0M | -$5.6M | -0.9% | $150.6M | 36/100 |
| NWTN Inc. NWTN | FY2025 | $950K | N/A | N/A | $406.2M | — |
| LiveWire Group, Inc. LVWR | FY2025 | $25.7M | -$75.1M | N/A | $302.0M | 52/100 |
| Lotus Technology Inc. LOT | FY2025 | $519.1M | -$464.2M | -89.4% | $536.9M | 40/100 |
| China Yuchai International Ltd. CYD | FY2025 | $3.6B | $117.1M | 3.3% | $1.2B | 43/100 |
Where Niu Technologies Ranks
Frequently Asked Questions
What is Niu Technologies's annual revenue?
Niu Technologies (NIU) reported $616.0M in total revenue for fiscal year 2025. This represents a 36.7% 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 Niu Technologies's revenue growing?
Niu Technologies (NIU) revenue grew by 36.7% year-over-year, from $450.5M to $616.0M in fiscal year 2025.
Is Niu Technologies profitable?
No, Niu Technologies (NIU) reported a net income of -$5.6M in fiscal year 2025, with a net profit margin of -0.9%.
What is Niu Technologies's EBITDA?
Niu Technologies (NIU) had EBITDA of $3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Niu Technologies's gross margin?
Niu Technologies (NIU) had a gross margin of 19.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Niu Technologies's operating margin?
Niu Technologies (NIU) had an operating margin of -2.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Niu Technologies's net profit margin?
Niu Technologies (NIU) had a net profit margin of -0.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Niu Technologies's return on equity (ROE)?
Niu Technologies (NIU) has a return on equity of -4.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Niu Technologies's free cash flow?
Niu Technologies (NIU) generated $25.1M in free cash flow during fiscal year 2025. This represents a 371.5% 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 Niu Technologies's operating cash flow?
Niu Technologies (NIU) generated $50.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Niu Technologies's total assets?
Niu Technologies (NIU) had $421.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Niu Technologies's capital expenditures?
Niu Technologies (NIU) invested $25.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Niu Technologies spend on research and development?
Niu Technologies (NIU) invested $23.8M in research and development during fiscal year 2025.
What is Niu Technologies's current ratio?
Niu Technologies (NIU) had a current ratio of 1.18 as of fiscal year 2025, which is considered adequate.
What is Niu Technologies's debt-to-equity ratio?
Niu Technologies (NIU) had a debt-to-equity ratio of 2.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Niu Technologies's return on assets (ROA)?
Niu Technologies (NIU) had a return on assets of -1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Niu Technologies's P/E ratio?
Niu Technologies (NIU) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $150.6M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Niu Technologies's price-to-sales ratio?
Niu Technologies (NIU) trades at 0.2x sales, its market capitalization divided by revenue of $616.0M revenue, FY2025. The market capitalization is $150.6M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Niu Technologies's Altman Z-Score?
Niu Technologies (NIU) has an Altman Z-Score of 1.30, 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 Niu Technologies's Piotroski F-Score?
Niu Technologies (NIU) has a Piotroski F-Score of 5 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 Niu Technologies's earnings high quality?
Niu Technologies (NIU) reported a net loss of $5.6M while generating $50.5M 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 Niu Technologies cover its interest payments?
Niu Technologies (NIU) reported an operating loss of $12.6M against $877K 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 Niu Technologies?
Niu Technologies (NIU) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.