Zoomcar Holdings, Inc. Financials
This page shows Zoomcar Holdings, Inc. (ZCAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Financial Health Signals
Zoomcar Holdings, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Zoomcar Holdings, Inc. generates $0.35 in operating cash flow (-$9.1M OCF vs -$25.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Zoomcar Holdings, Inc. earns $-65.3 in operating income for every $1 of interest expense (-$10.4M vs $159K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Zoomcar Holdings, Inc. generated $9.1M in revenue in fiscal year 2025. This represents a decrease of 8.0% from the prior year.
Zoomcar Holdings, Inc.'s EBITDA was -$10.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 67.5% from the prior year.
Zoomcar Holdings, Inc. reported -$25.6M in net income in fiscal year 2025. This represents an increase of 25.2% from the prior year.
Zoomcar Holdings, Inc. earned $-51.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 98.6% from the prior year.
Cash & Balance Sheet
Zoomcar Holdings, Inc. held $1.1M in cash against $2.3M in long-term debt as of fiscal year 2025.
Zoomcar Holdings, Inc. had 2M shares outstanding in fiscal year 2025. This represents an increase of 7556.8% from the prior year.
Margins & Returns
Zoomcar Holdings, Inc.'s gross margin was 41.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 46.2 percentage points from the prior year.
Zoomcar Holdings, Inc.'s operating margin was -114.2% in fiscal year 2025, reflecting core business profitability. This is up 205.8 percentage points from the prior year.
Zoomcar Holdings, Inc.'s net profit margin was -281.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 64.9 percentage points from the prior year.
Capital Allocation
Zoomcar Holdings, Inc. invested $3.0M in research and development in fiscal year 2025. This represents a decrease of 31.8% from the prior year.
ZCAR Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4M0.0% | $2.4M+3.4% | $2.3M-1.1% | $2.3M+6.6% | $2.2M-11.5% | $2.4M+9.0% | $2.2M+0.3% | $2.2M |
| Cost of Revenue | $1.1M0.0% | $1.1M-9.8% | $1.2M-8.9% | $1.3M+22.6% | $1.1M-28.5% | $1.5M+23.6% | $1.2M-19.8% | $1.5M |
| Gross Profit | $1.3M0.0% | $1.3M+17.9% | $1.1M+9.1% | $999K-8.9% | $1.1M+15.4% | $950K-8.1% | $1.0M+41.8% | $729K |
| R&D Expenses | $679K0.0% | $679K-7.1% | $730K+2.9% | $709K+22.4% | $580K-22.6% | $749K+2.0% | $735K-18.5% | $902K |
| SG&A Expenses | $1.9M0.0% | $1.9M-10.6% | $2.2M+14.8% | $1.9M-24.3% | $2.5M-23.8% | $3.2M+96.1% | $1.7M-31.0% | $2.4M |
| Operating Income | $1.5M+200.0% | -$1.5M+25.6% | -$2.0M-12.4% | -$1.8M+20.5% | -$2.2M+31.5% | -$3.2M-105.9% | -$1.6M+53.4% | -$3.4M |
| Interest Expense | $76K0.0% | $76K+9.6% | $70K+1546.6% | $4K+101.8% | -$229K-226.6% | $181K+37.9% | $131K+72.2% | $76K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $721K+200.0% | -$721K+9.2% | -$794K+81.1% | -$4.2M+64.4% | -$11.8M-49.2% | -$7.9M-136.3% | -$3.4M-32.4% | -$2.5M |
| EPS (Diluted) | $0.06+200.0% | $-0.06+14.3% | $-0.07+86.0% | $-0.50 | N/A | $-71.26 | $-88.56 | $-73.90 |
ZCAR Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.8M0.0% | $2.8M-11.0% | $3.1M-20.2% | $3.9M-27.1% | $5.4M-43.9% | $9.5M+54.2% | $6.2M-22.9% | $8.0M |
| Current Assets | $910K0.0% | $910K-20.3% | $1.1M-32.6% | $1.7M-43.7% | $3.0M-49.9% | $6.0M+128.0% | $2.6M-38.0% | $4.3M |
| Cash & Equivalents | $208K0.0% | $208K+22.9% | $169K-56.0% | $385K-64.2% | $1.1M-75.5% | $4.4M+615.9% | $614K-61.2% | $1.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $52K0.0% | $52K-44.5% | $94K-0.2% | $95K-52.9% | $201K+106.6% | $97K-5.4% | $103K-37.6% | $164K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | -$24.7M-181.6% | $30.2M-2.0% | $30.8M+0.4% | $30.7M0.0% | $30.7M-36.0% | $48.0M+23.2% | $38.9M-1.4% | $39.5M |
| Current Liabilities | $29.2M0.0% | $29.2M-1.8% | $29.7M+0.7% | $29.5M0.0% | $29.5M-36.9% | $46.8M+24.2% | $37.7M-1.2% | $38.1M |
| Long-Term Debt | $2.3M | N/A | N/A | N/A | $2.3M-24.0% | $3.0M-18.9% | $3.7M | N/A |
| Total Equity | $27.4M+200.0% | -$27.4M+1.0% | -$27.7M-3.4% | -$26.8M-5.7% | -$25.3M+34.0% | -$38.4M-17.3% | -$32.8M-4.1% | -$31.5M |
| Retained Earnings | $338.9M+200.0% | -$338.9M-0.2% | -$338.2M-0.2% | -$337.4M-1.3% | -$333.2M-3.7% | -$321.4M-2.5% | -$313.4M-1.1% | -$310.1M |
ZCAR Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.3M+269.1% | -$772K-23.8% | -$624K-795.0% | $90K+102.2% | -$4.0M-58.5% | -$2.5M-253.4% | -$720K+59.5% | -$1.8M |
| Capital Expenditures | $4K+22.2% | $3K+53516.7% | -$6-100.8% | $718 | N/A | N/A | N/A | N/A |
| Free Cash Flow | $1.3M+267.9% | -$776K-24.4% | -$624K-800.6% | $89K | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $4K+209.4% | -$4K-644.7% | $701+166.1% | -$1K-103.7% | $29K-63.7% | $79K+16.1% | $68K-78.6% | $317K |
| Financing Cash Flow | $379K+3542.4% | $10K-99.1% | $1.2M+244.6% | -$826K-244.3% | $573K-91.1% | $6.4M+2229.3% | -$302K-119.4% | $1.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ZCAR Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.3%0.0pp | 54.3%+6.7pp | 47.6%+4.4pp | 43.2%-7.4pp | 50.6%+11.8pp | 38.8%-7.2pp | 46.0%+13.5pp | 32.5% |
| Operating Margin | 62.3%+124.6pp | -62.3%+24.3pp | -86.6%-10.4pp | -76.2%+26.0pp | -102.2%+30.0pp | -132.2%-62.2pp | -70.0%+80.6pp | -150.6% |
| Net Margin | 30.5%+61.0pp | -30.5%+4.2pp | -34.7%+147.1pp | -181.8%+363.1pp | -544.9%-221.5pp | -323.4%-174.3pp | -149.2%-36.2pp | -113.0% |
| Return on Equity | 2.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 26.0%+52.0pp | -26.0%-0.5pp | -25.5%+82.2pp | -107.6%+112.9pp | -220.6%-137.6pp | -83.0%-28.8pp | -54.2%-22.6pp | -31.6% |
| Current Ratio | 0.030.0 | 0.030.0 | 0.04-0.0 | 0.06-0.0 | 0.10-0.0 | 0.13+0.1 | 0.07-0.0 | 0.11 |
| Debt-to-Equity | 0.08+1.2 | -1.10+0.0 | -1.11+0.0 | -1.15-1.1 | -0.09-0.0 | -0.08+0.0 | -0.11+1.1 | -1.25 |
| FCF Margin | 55.1%+87.9pp | -32.8%-5.5pp | -27.3%-31.1pp | 3.9% | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$25.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.10), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Zoomcar Holdings, Inc.'s annual revenue?
Zoomcar Holdings, Inc. (ZCAR) reported $9.1M in total revenue for fiscal year 2025. This represents a -8.0% 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 Zoomcar Holdings, Inc.'s revenue growing?
Zoomcar Holdings, Inc. (ZCAR) revenue declined by 8% year-over-year, from $9.9M to $9.1M in fiscal year 2025.
Is Zoomcar Holdings, Inc. profitable?
No, Zoomcar Holdings, Inc. (ZCAR) reported a net income of -$25.6M in fiscal year 2025, with a net profit margin of -281.4%.
What is Zoomcar Holdings, Inc.'s EBITDA?
Zoomcar Holdings, Inc. (ZCAR) had EBITDA of -$10.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Zoomcar Holdings, Inc. have?
As of fiscal year 2025, Zoomcar Holdings, Inc. (ZCAR) had $1.1M in cash and equivalents against $2.3M in long-term debt.
What is Zoomcar Holdings, Inc.'s gross margin?
Zoomcar Holdings, Inc. (ZCAR) had a gross margin of 41.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Zoomcar Holdings, Inc.'s operating margin?
Zoomcar Holdings, Inc. (ZCAR) had an operating margin of -114.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Zoomcar Holdings, Inc.'s net profit margin?
Zoomcar Holdings, Inc. (ZCAR) had a net profit margin of -281.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Zoomcar Holdings, Inc.'s operating cash flow?
Zoomcar Holdings, Inc. (ZCAR) generated -$9.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Zoomcar Holdings, Inc.'s total assets?
Zoomcar Holdings, Inc. (ZCAR) had $5.4M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Zoomcar Holdings, Inc. spend on research and development?
Zoomcar Holdings, Inc. (ZCAR) invested $3.0M in research and development during fiscal year 2025.
What is Zoomcar Holdings, Inc.'s current ratio?
Zoomcar Holdings, Inc. (ZCAR) had a current ratio of 0.10 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Zoomcar Holdings, Inc.'s debt-to-equity ratio?
Zoomcar Holdings, Inc. (ZCAR) had a debt-to-equity ratio of -0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zoomcar Holdings, Inc.'s return on assets (ROA)?
Zoomcar Holdings, Inc. (ZCAR) had a return on assets of -478.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Zoomcar Holdings, Inc.'s cash runway?
Based on fiscal year 2025 data, Zoomcar Holdings, Inc. (ZCAR) had $1.1M in cash against an annual operating cash burn of $9.1M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Zoomcar Holdings, Inc.'s debt-to-equity ratio negative or unusual?
Zoomcar Holdings, Inc. (ZCAR) has negative shareholder equity of -$25.3M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Zoomcar Holdings, Inc.'s Piotroski F-Score?
Zoomcar Holdings, Inc. (ZCAR) has a Piotroski F-Score of 3 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Zoomcar Holdings, Inc.'s earnings high quality?
Zoomcar Holdings, Inc. (ZCAR) has an earnings quality ratio of 0.35x, considered low quality (accrual-driven). 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 Zoomcar Holdings, Inc. cover its interest payments?
Zoomcar Holdings, Inc. (ZCAR) has an interest coverage ratio of -65.3x, meaning it can struggle to cover its interest obligations. 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.