Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -30.4%. (2004–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $60M | $66M | $103M | $224M | $174M | $244M | $386M | $248M | $186M | $326M | $230M |
| Enterprise Value | $-69623696 | $-63131969 | $151M | $232M | $114M | $127M | $244M | $307M | $242M | $413M | $296M |
| P/E Ratio → | -0.64 | — | — | 28000.00 | — | 10.70 | — | — | — | — | — |
| P/S Ratio | 0.68 | 0.76 | 0.81 | 1.81 | 1.48 | 2.67 | 5.02 | 1.82 | 1.65 | 3.17 | 1.78 |
| P/B Ratio | 0.22 | 0.24 | 0.30 | 0.55 | 0.44 | 0.55 | 0.96 | 1.14 | 0.82 | 1.46 | 0.99 |
| P/FCF | 0.34 | 0.38 | — | — | 6.28 | — | — | — | 14.89 | — | — |
| P/OCF | 0.34 | 0.37 | — | — | 5.52 | 1011.38 | — | — | 13.68 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.72 | 1.18 | 1.87 | 0.97 | 1.38 | 3.17 | 2.26 | 2.15 | 4.02 | 2.28 |
| EV / EBITDA | — | — | — | — | — | 11.30 | 27.46 | 34.03 | 90.13 | — | — |
| EV / EBIT | — | — | — | — | — | — | — | 337.47 | — | — | — |
| EV / FCF | — | -0.36 | — | — | 4.14 | — | — | — | 19.41 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.6% | 42.6% | 30.8% | 33.5% | 16.6% | 17.8% | 17.5% | 18.7% | 18.0% | 14.0% | 13.7% |
| Operating Margin | -47.3% | -47.3% | -53.9% | -10.6% | -23.5% | 1.5% | 1.0% | 0.7% | -1.5% | -25.4% | -24.0% |
| Net Profit Margin | -107.4% | -107.4% | -39.6% | 0.0% | -10.3% | 25.0% | -13.5% | -5.3% | -5.1% | -27.6% | -5.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -30.4% | -30.4% | -13.4% | 0.0% | -2.9% | 5.4% | -3.3% | -3.2% | -2.5% | -12.5% | -2.8% |
| ROA | -21.5% | -21.5% | -10.4% | 0.0% | -2.4% | 4.5% | -2.4% | -1.8% | -1.3% | -6.5% | -1.6% |
| ROIC | -11.6% | -11.6% | -12.8% | -2.6% | -6.3% | 0.3% | 0.2% | 0.2% | -0.4% | -6.4% | -8.3% |
| ROCE | -13.3% | -13.3% | -17.8% | -3.2% | -6.5% | 0.3% | 0.2% | 0.4% | -0.6% | -10.1% | -12.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.17 | 0.24 | 0.10 | 0.06 | 0.03 | 0.00 | 0.30 | 0.32 | 0.41 | 0.34 |
| Debt / EBITDA | — | — | — | — | — | 1.01 | 0.01 | 7.19 | 26.83 | — | — |
| Net Debt / Equity | — | -0.48 | 0.14 | 0.02 | -0.15 | -0.27 | -0.35 | 0.27 | 0.25 | 0.39 | 0.28 |
| Net Debt / EBITDA | — | — | — | — | — | -10.52 | -15.97 | 6.58 | 21.00 | — | — |
| Debt / FCF | — | -0.73 | — | — | -2.15 | — | — | — | 4.52 | — | — |
| Interest Coverage | -21.95 | -21.95 | -20.33 | -8.75 | -34.40 | -115.46 | -3.58 | 0.19 | -0.88 | -11.44 | -16.93 |
Net cash position: cash ($176M) exceeds total debt ($47M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.34 | 2.34 | 2.95 | 4.48 | 4.04 | 5.34 | 3.66 | 1.48 | 1.02 | 1.29 | 1.49 |
| Quick Ratio | 2.10 | 2.10 | 2.52 | 3.68 | 3.54 | 4.82 | 3.43 | 1.27 | 0.88 | 1.20 | 1.42 |
| Cash Ratio | 1.65 | 1.65 | 0.36 | 0.88 | 2.03 | 2.87 | 1.70 | 0.04 | 0.10 | 0.03 | 0.09 |
| Asset Turnover | — | 0.22 | 0.27 | 0.25 | 0.24 | 0.18 | 0.16 | 0.37 | 0.26 | 0.23 | 0.29 |
| Inventory Turnover | 1.61 | 1.61 | 1.72 | 1.34 | 2.43 | 2.27 | 3.22 | 3.98 | 4.19 | 5.54 | 9.38 |
| Days Sales Outstanding | — | 231.54 | 490.78 | 442.67 | 156.45 | 247.84 | 448.21 | 164.51 | 115.37 | 656.01 | 507.05 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.0% | — | 9.3% | — | — | — | — | — |
| FCF Yield | 100.0% | 266.7% | — | — | 15.9% | — | — | — | 6.7% | — | — |
| Buyback Yield | 0.0% | 0.0% | 3.8% | 0.2% | 4.3% | 1.0% | 0.0% | 1.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 3.8% | 0.2% | 4.3% | 1.0% | 0.0% | 1.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $84M | $86M | $80M | $76M | $76M | $56M | $52M | $51M | $48M | $47M |
Geopolitical and Tariff Exposure
Based on recent financial data, KNDI trades at a price-to-book ratio of 0.19, which suggests that the market assigns minimal value to the company's operating assets and instead views the firm primarily through the lens of its cash-heavy, albeit eroding, balance sheet position.
The current P/S ratio of 0.58, when paired with a negative P/E, indicates that investors are heavily discounting the company's ability to convert its manufacturing footprint into sustainable earnings. This valuation profile is typical of a distressed asset where the market assumes the liquidation value of the balance sheet exceeds the present value of future operational cash flows.
As reported in quarterly filings, KNDI's ROIC has consistently languished in negative territory, reaching -0.2% in 2025Q2, which highlights a structural inability to generate returns that exceed the cost of capital despite the company's relatively conservative debt profile and substantial cash reserves.
The inability to achieve positive ROIC suggests that the company's capital allocation strategy is failing to drive efficiency within its manufacturing segments. Investors should monitor whether management can pivot toward higher-margin activities, as the current trend indicates that invested capital is being consumed rather than compounded.
According to recent financial statements, the cash conversion cycle has fluctuated significantly, reaching 121 days in 2025Q2, which reflects ongoing challenges in managing inventory turnover and collecting receivables in a highly competitive and seasonally sensitive recreational vehicle market.
The elevated days inventory outstanding, which peaked at 436 days in 2025Q1, suggests that Kandi is struggling to align production volumes with actual consumer demand. This inefficiency ties up critical liquidity in unsold goods, further exacerbating the company's inability to generate positive free cash flow.
Based on the 2025Q2 reported figures, KNDI maintains a current ratio of 3.75, providing a substantial short-term liquidity cushion that appears to insulate the company from immediate insolvency despite the persistent negative net margins observed in recent periods.
While the current ratio suggests a healthy liquidity position, the rapid erosion of cash reserves warrants further investigation into the sustainability of this buffer. The company's reliance on its balance sheet to fund ongoing operational losses may eventually lead to a liquidity crunch if revenue contraction continues unabated.
As indicated by the company's negative TTM P/E of -0.54, the price-to-earnings ratio is a fundamentally flawed metric for KNDI, as it obscures the company's status as a cash-heavy manufacturing entity rather than a traditional earnings-generating growth business.
Investors should instead focus on the price-to-book ratio or the cash-to-market-cap ratio to better understand the company's valuation floor. Relying on P/E in this context is misleading, as it fails to account for the significant non-operating assets that currently dominate the company's financial profile.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying KNDI stock.
Kandi Technologies Group, Inc.'s current P/E ratio is -0.6x. The historical average is 28.9x.
Kandi Technologies Group, Inc.'s return on equity (ROE) is -30.4%. The historical average is 3.2%.
Based on historical data, Kandi Technologies Group, Inc. is trading at a P/E of -0.6x. Compare with industry peers and growth rates for a complete picture.
Kandi Technologies Group, Inc. has 42.6% gross margin and -47.3% operating margin.