U Power Limited (UCAR) 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 3, 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 May 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UCAR SEC filings page.
U Power Limited (UCAR) reported $5.9M in revenue for fiscal year 2025, down 3.6% 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).
U Power’s modest revenue base remains loss-making: improved gross margins are being overwhelmed by operating costs and cash needs.
Gross margin recovered from23.6% in FY2024 to36.3% in FY2025, but operating margin still worsened to-141.7% while SG&A reached$7.5M . The gap indicates that operating costs, not gross economics, remain the current bottleneck.
FY2025 net loss was
Capital expenditures were only
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 U Power Limited'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.
U Power Limited held $22.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $9.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and U Power Limited scores 52/100 among other emerging companies.
U Power Limited had 5M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and U Power Limited scores 11/100 among other emerging companies.
U Power Limited spent $654K on research and development in fiscal year 2025, which was 4.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and U Power Limited scores 23/100 among other emerging companies.
U Power Limited reported revenue of $5.9M in fiscal year 2025, against $6.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and U Power Limited scores 77/100 among other emerging companies.
U Power Limited's operations used $9.9M of cash in fiscal year 2025, against $10.0M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and U Power Limited scores 41/100 among other emerging companies.
U Power Limited's cash, cash equivalents and investments came to $22.2M at the end of fiscal year 2025, against $12.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and U Power Limited scores 73/100 among other emerging companies.
U Power Limited scores -0.89, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($7.4M) relative to total liabilities ($12.0M). 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.
U Power Limited passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
U Power Limited reported a net loss of $9.8M while operations used $9.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
U Power Limited reported an operating loss of $8.3M against $27K 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
U Power Limited held $3.1M 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.
UCAR 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).
UCAR 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 | Q4'2410-K | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q4'2210-K |
|---|---|---|---|---|---|---|---|
| Total Assets | $53.9M+2.0% | $55.3M-4.6% | $52.8M-12.5% | $57.9M+7.9% | $60.4M+47.9% | $53.7M | $40.9M |
| Current Assets | $21.0M+45.7% | $19.6M-6.7% | $14.4M-37.4% | $21.0M-11.1% | $23.0M+193.5% | $23.6M | $7.8M |
| Cash & Equivalents | $3.1M-2.7% | $3.2M-41.9% | $3.2M+1084.9% | $5.5M-63.7% | $271K-61.7% | $15.0M | $708K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.7M+29.4% | $1.8M+119.9% | $1.4M+76.5% | $824K-9.5% | $766K-3.2% | $911K | $791K |
| Accounts Receivable | $3.2M+122.2% | $2.6M+0.4% | $1.4M-35.9% | $2.6M+2736.7% | $2.2M+847.9% | $90K | $234K |
| Long-Term Investments | $19.1M+3.7% | $18.7M-5.5% | $18.4M+5.7% | $19.8M+28.4% | $17.4M+7.2% | $15.4M | $16.2M |
| Total Liabilities | $12.0M+35.1% | $9.6M-6.4% | $8.9M-22.1% | $10.3M-13.0% | $11.4M+6.2% | $11.8M | $10.7M |
| Current Liabilities | $11.6M+49.4% | $8.8M-8.3% | $7.8M-26.1% | $9.6M-2.5% | $10.5M+23.0% | $9.9M | $8.6M |
| Non-Current Liabilities | $336K-68.7% | $828K+19.1% | $1.1M+27.6% | $695K-64.9% | $842K-60.7% | $2.0M | $2.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $1.4M | $1.4M |
| Total Equity | $38.6M-3.4% | $42.3M-1.2% | $39.9M-7.5% | $42.8M+19.3% | $43.2M+79.5% | $35.9M | $24.1M |
| Retained Earnings | -$41.2M-36.1% | -$33.9M-25.4% | -$30.3M-24.2% | -$27.1M-24.8% | -$24.4M-9.4% | -$21.7M | -$22.3M |
Not reported in any period shown, so not listed: Goodwill.
UCAR 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.
UCAR 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 |
|---|---|---|---|---|---|---|
| U Power Limited UCAR | FY2025 | $5.9M | -$9.8M | N/A | $7.4M | 46/100 |
| Kaixin Holdings KXIN | FY2025 | $129K | -$53.9M | N/A | $62.5M | — |
| Lazydays Holdings, Inc. GORV | FY2024 | $871.6M | -$163.7M | -18.8% | $1.6M | 19/100 |
| Autozi Internet Technology (Global) Ltd. AZI | FY2025 | N/A | -$16.6M | N/A | $75.0M | — |
| Jiuzi Holdings, Inc. JZXN | FY2025 | $2.9M | -$10.2M | N/A | $58.2M | 53/100 |
Where U Power Limited Ranks
Frequently Asked Questions
What is U Power Limited's annual revenue?
U Power Limited (UCAR) reported $5.9M in total revenue for fiscal year 2025. This represents a -3.6% 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 U Power Limited's revenue growing?
U Power Limited (UCAR) revenue declined by 3.6% year-over-year, from $6.1M to $5.9M in fiscal year 2025.
Is U Power Limited profitable?
No, U Power Limited (UCAR) reported a net income of -$9.8M in fiscal year 2025.
What is U Power Limited's EBITDA?
U Power Limited (UCAR) had EBITDA of -$8.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is U Power Limited's gross margin?
U Power Limited (UCAR) had a gross margin of 36.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is U Power Limited's return on equity (ROE)?
U Power Limited (UCAR) has a return on equity of -25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is U Power Limited's free cash flow?
U Power Limited (UCAR) recorded an outflow of $10.0M in free cash flow during fiscal year 2025. This represents a 0.1% 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 U Power Limited's operating cash flow?
U Power Limited (UCAR) recorded an outflow of $9.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are U Power Limited's total assets?
U Power Limited (UCAR) had $53.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are U Power Limited's capital expenditures?
U Power Limited (UCAR) invested $71K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does U Power Limited spend on research and development?
U Power Limited (UCAR) invested $654K in research and development during fiscal year 2025.
What is U Power Limited's current ratio?
U Power Limited (UCAR) had a current ratio of 1.80 as of fiscal year 2025, which is generally considered healthy.
What is U Power Limited's debt-to-equity ratio?
U Power Limited (UCAR) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is U Power Limited's return on assets (ROA)?
U Power Limited (UCAR) had a return on assets of -18.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is U Power Limited's P/E ratio?
U Power Limited (UCAR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $7.4M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is U Power Limited's price-to-sales ratio?
U Power Limited (UCAR) trades at 1.3x sales, its market capitalization divided by revenue of $5.9M revenue, FY2025. The market capitalization is $7.4M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does U Power Limited's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, U Power Limited (UCAR) held $22.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $9.9M 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 U Power Limited's Altman Z-Score?
U Power Limited (UCAR) has an Altman Z-Score of -0.89, 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 U Power Limited's Piotroski F-Score?
U Power Limited (UCAR) has a Piotroski F-Score of 1 out of 8 computable signals; 1 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 U Power Limited's earnings high quality?
U Power Limited (UCAR) reported a net loss of $9.8M while operations used $9.9M 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 U Power Limited cover its interest payments?
U Power Limited (UCAR) reported an operating loss of $8.3M against $27K 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 U Power Limited?
U Power Limited (UCAR) scores 46 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.