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China BAK Battery (CBAT) Financials

China BAK Battery logo
$0.54 +0.01 (+1.94%)
Closing price 04:00 PM Eastern
Extended Trading
$0.53 -0.01 (-2.65%)
As of 07:17 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for China BAK Battery

Annual Income Statements for China BAK Battery

This table shows China BAK Battery's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 16 -13 -21 -1.94 -11 -7.81 61 -9.45 -2.45 12 -9.38
Consolidated Net Income / (Loss)		 16 -13 -21 -1.96 -11 -7.85 62 -11 -8.54 9.59 -11
Net Income / (Loss) Continuing Operations		 14 -13 -21 -1.96 -11 -7.85 62 -11 -8.54 9.59 -11
Total Pre-Tax Income 		19 -12 -21 -1.96 -11 -7.85 54 -13 -6.05 11 -11
Total Operating Income		 -3.65 -12 -21 -13 -10 -8.48 -12 -12 -7.25 8.79 -18
Total Gross Profit		 0.95 -1.73 -11 -3.46 0.62 2.71 5.11 17 32 42 18
Total Revenue		 14 10 58 24 22 38 53 249 204 177 195
Operating Revenue		 14 10 58 24 22 38 53 249 204 177 195
Total Cost of Revenue		 13 12 69 28 22 35 47 231 173 135 177
Operating Cost of Revenue		 13 12 69 28 22 35 48 231 173 135 177
Other Cost of Revenue		 - - 0.73 0.16 - - -0.78 0.83 - - -0.21
Total Operating Expenses		 4.60 10 10 9.98 11 11 18 29 41 33 37
Selling, General & Admin Expense		 3.33 4.74 4.33 4.50 4.41 3.75 10 9.74 14 14 16
Marketing Expense		 0.14 1.00 3.22 2.08 1.02 0.70 2.30 2.01 4.90 5.20 5.08
Research & Development Expense		 1.00 1.88 1.74 2.48 1.91 1.68 5.27 11 12 13 16
Impairment Charge		 - 0.00 0.97 0.92 2.33 4.35 0.69 6.39 9.44 0.48 0.00
Total Other Income / (Expense), net		 23 0.14 -0.29 11 -0.76 0.63 66 -1.05 3.56 2.31 7.30
Interest & Investment Income		 - - - - - - - 0.00 -0.03 -0.02 0.15
Other Income / (Expense), net		 23 0.14 -0.04 12 0.62 2.03 65 -1.54 3.59 2.33 7.16
Income Tax Expense		 5.32 0.67 0.00 0.00 0.00 0.00 -7.73 -1.23 2.49 1.56 -0.18
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - 0.00 -0.01 -0.09 -0.04 0.07 -1.88 -6.09 -2.20 -1.57
Basic Earnings per Share		 $1.24 - ($0.92) ($0.07) ($0.28) ($0.13) $0.70 ($0.11) ($0.03) $0.13 ($0.10)
Weighted Average Basic Shares Outstanding		 12.72M 17.79M 23.24M 26.60M 38.97M 61.99M 87.61M 88.93M 89.25M 89.93M 89.25M
Diluted Earnings per Share		 $1.23 ($0.71) ($0.92) - - ($0.13) $0.70 ($0.11) ($0.03) $0.13 ($0.10)
Weighted Average Diluted Shares Outstanding		 12.88M 17.79M 23.24M 26.60M - 61.99M 87.88M 88.93M 89.25M 90.16M 89.25M
Weighted Average Basic & Diluted Shares Outstanding		 12.90M 17.79M 23.24M 26.60M - - - - 89.92M 89.94M 88.65M

Quarterly Income Statements for China BAK Battery

This table shows China BAK Battery's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 6.33 -4.77 9.84 6.45 0.02 -4.51 -1.58 -3.07 2.65 -7.38 -9.29
Consolidated Net Income / (Loss)		 5.76 -9.16 9.57 6.02 -0.69 -5.32 -2.05 -3.36 2.08 -7.62 -8.96
Net Income / (Loss) Continuing Operations		 5.76 -9.16 9.57 6.02 -0.69 -5.32 -2.05 -3.36 2.08 -7.62 -8.96
Total Pre-Tax Income 		5.46 -5.66 11 6.82 -0.35 -5.96 -2.05 -3.36 1.90 -7.62 -8.95
Total Operating Income		 5.29 -5.89 10 5.95 -0.83 -6.59 -2.86 -3.53 -4.03 -8.01 -9.70
Total Gross Profit		 12 13 19 13 6.95 3.31 4.80 4.46 4.88 4.28 1.04
Total Revenue		 63 56 59 48 45 25 35 41 61 59 70
Operating Revenue		 63 56 59 48 45 25 35 41 61 59 70
Total Cost of Revenue		 51 44 40 35 38 22 30 36 56 54 69
Operating Cost of Revenue		 51 43 40 35 38 22 30 36 56 55 69
Other Cost of Revenue		 0.02 1.00 - - - - - - - - 0.01
Total Operating Expenses		 6.93 20 8.52 6.78 7.78 9.91 7.67 7.99 8.91 13 11
Selling, General & Admin Expense		 3.24 4.49 4.09 3.13 2.78 3.95 3.80 3.35 3.87 5.17 4.51
Marketing Expense		 1.12 2.10 1.72 1.37 1.02 1.08 0.90 0.95 1.33 1.90 2.00
Research & Development Expense		 2.58 3.91 2.82 2.96 3.43 3.80 3.02 3.61 3.86 5.30 4.22
Total Other Income / (Expense), net		 0.17 2.60 0.36 0.83 0.48 0.64 0.81 0.17 5.93 0.39 0.75
Interest & Investment Income		 - - -0.02 0.00 -0.00 -0.00 0.06 -0.02 0.00 0.11 0.00
Other Income / (Expense), net		 0.17 2.63 0.38 0.83 0.48 0.64 0.76 0.19 5.93 0.28 0.75
Income Tax Expense		 -0.31 3.50 1.05 0.80 0.34 -0.63 0.00 0.00 -0.18 -0.00 0.01
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.57 -4.39 -0.26 -0.42 -0.70 -0.82 -0.47 -0.29 -0.57 -0.25 0.33
Basic Earnings per Share		 $0.07 ($0.05) $0.11 $0.07 $0.00 ($0.05) ($0.02) ($0.03) $0.03 ($0.08) ($0.10)
Weighted Average Basic Shares Outstanding		 89.47M 89.25M 89.93M 89.93M 89.93M 89.93M 89.94M 89.77M 89.64M 89.25M 89.25M
Diluted Earnings per Share		 $0.07 ($0.05) $0.11 $0.07 $0.00 ($0.05) ($0.02) ($0.03) $0.03 ($0.08) ($0.10)
Weighted Average Diluted Shares Outstanding		 89.90M 89.25M 90.12M 90.11M 90.23M 90.16M 89.94M 89.77M 89.66M 89.25M 89.25M
Weighted Average Basic & Diluted Shares Outstanding		 89.49M 89.92M 89.94M 89.94M 89.94M 89.94M 89.94M 88.65M 88.65M 88.65M 88.65M

Annual Cash Flow Statements for China BAK Battery

This table details how cash moves in and out of China BAK Battery's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.77 -4.81 6.06 6.94 -10 14 5.92 13 23 4.59 11
Net Cash From Operating Activities		 -2.04 -14 6.22 8.73 -21 -5.10 -4.27 15 47 40 49
Net Cash From Continuing Operating Activities		 -2.04 -14 6.22 8.73 -21 -5.10 -4.27 15 47 40 49
Net Income / (Loss) Continuing Operations		 14 -13 -21 -1.96 -11 -7.85 62 -11 -8.54 9.59 -11
Consolidated Net Income / (Loss)		 16 -13 -21 -1.96 -11 -7.85 62 -11 -8.54 9.59 -11
Depreciation Expense		 0.51 1.12 1.59 2.47 2.75 2.70 3.58 8.06 9.70 7.95 9.50
Amortization Expense		 - - - - - 0.00 0.48 0.50 0.64 1.22 1.07
Non-Cash Adjustments To Reconcile Net Income		 -22 4.89 8.31 -11 5.19 7.14 -61 9.23 16 5.92 6.58
Changes in Operating Assets and Liabilities, net		 5.61 -7.25 18 19 -18 -7.09 -8.58 8.65 29 15 42
Net Cash From Investing Activities		 -5.50 -9.11 -12 -7.33 -2.42 -5.71 -38 -7.93 -42 -23 -46
Net Cash From Continuing Investing Activities		 -7.02 -9.11 -12 -7.33 -2.42 -5.71 -38 -7.93 -42 -23 -46
Purchase of Property, Plant & Equipment		 -13 -5.93 -12 -7.36 -2.45 -5.71 -19 -12 -31 -17 -45
Acquisitions		 -0.03 - - - - 0.00 -17 -0.30 -4.04 0.00 -1.10
Purchase of Investments		 - - - - - 0.00 -1.39 0.00 -7.13 -9.09 -2.93
Sale of Property, Plant & Equipment		 - 0.00 0.00 0.03 0.03 - 0.00 0.28 0.00 0.22 0.15
Divestitures		 - - - - - - - 4.46 0.00 0.28 0.00
Other Investing Activities, net		 5.86 -3.19 - - - 0.00 0.00 - 0.00 2.36 2.82
Net Cash From Financing Activities		 13 19 11 6.40 14 26 48 5.61 19 -12 8.00
Net Cash From Continuing Financing Activities		 13 19 11 6.40 14 26 48 5.61 19 -12 8.00
Repayment of Debt		 -15 -11 -25 -37 -4.61 -23 -17 -19 -19 -55 -46
Repurchase of Common Equity		 - - - - - - - - - 0.00 -1.50
Issuance of Debt		 18 24 25 43 19 3.86 0.00 23 38 48 51
Other Financing Activities, net		 9.85 0.00 2.07 0.00 -0.89 - -0.40 - 0.00 -4.30 4.24
Cash Interest Paid		 0.00 0.00 0.10 1.01 1.38 0.99 0.18 0.57 0.18 0.41 0.87
Cash Income Taxes Paid		 0.00 0.46 - 0.00 0.00 0.00 0.00 0.06 0.00 2.19 0.00

Quarterly Cash Flow Statements for China BAK Battery

This table details how cash moves in and out of China BAK Battery's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 2.05 14 -22 -16 27 16 3.90 -27 41 11 23
Net Cash From Operating Activities		 4.92 26 7.45 2.94 20 9.63 -9.62 14 15 30 22
Net Cash From Continuing Operating Activities		 4.61 26 7.45 2.99 20 9.63 7.88 14 15 30 22
Net Income / (Loss) Continuing Operations		 5.76 -9.16 9.57 6.02 -0.69 -5.32 -2.05 -3.36 2.08 -7.62 -8.96
Consolidated Net Income / (Loss)		 5.76 -9.16 9.57 6.02 -0.69 -5.32 -2.05 -3.36 2.08 -7.62 -8.96
Depreciation Expense		 2.00 3.53 2.23 2.03 1.89 1.81 2.12 2.10 1.25 4.03 3.43
Amortization Expense		 - - 0.30 0.29 0.32 0.30 0.29 0.19 0.29 0.30 0.25
Non-Cash Adjustments To Reconcile Net Income		 0.29 13 0.56 0.60 1.93 2.83 0.85 1.79 1.07 2.87 3.98
Changes in Operating Assets and Liabilities, net		 -3.17 18 -5.21 -5.95 16 10 6.66 13 9.91 30 24
Net Cash From Investing Activities		 -9.17 -14 -13 -4.12 -3.16 -3.32 -9.90 -11 -8.44 -17 -12
Net Cash From Continuing Investing Activities		 -9.17 -14 -13 -4.12 -3.16 -3.32 -9.90 -11 -8.44 -17 -12
Purchase of Property, Plant & Equipment		 -5.37 -6.20 -7.90 -0.44 -3.14 -5.71 -13 -9.63 -8.60 -14 -12
Net Cash From Financing Activities		 6.37 0.09 -16 -15 10 9.78 5.93 -30 35 -2.20 11
Net Cash From Continuing Financing Activities		 6.65 -0.19 -16 -15 10 9.78 5.93 -30 35 -2.20 11
Repayment of Debt		 -2.07 -2.50 -17 -15 -17 -4.91 -17 -1.57 -20 -7.38 -11
Issuance of Debt		 9.56 1.47 22 14 6.33 5.53 24 6.40 15 5.34 23
Other Financing Activities, net		 - 0.84 -21 -14 21 9.15 -1.27 -34 40 -0.16 -0.56
Effect of Exchange Rate Changes		 - - - - - - - - - - 1.11
Cash Interest Paid		 0.12 0.06 0.16 0.05 0.17 0.03 0.16 0.19 0.31 0.22 0.25
Cash Income Taxes Paid		 - - 0.00 1.04 0.81 0.34 0.00 - - - 0.00

Annual Balance Sheets for China BAK Battery

This table presents China BAK Battery's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 63 93 153 128 96 143 263 244 281 302 426
Total Current Assets		 20 32 85 56 28 126 245 126 128 141 181
Cash & Equivalents		 6.76 1.95 1.64 0.45 1.61 12 7.36 6.52 4.64 6.72 8.30
Accounts Receivable		 4.77 2.38 58 22 7.95 30 53 33 29 33 38
Inventories, net		 3.06 17 9.83 9.62 8.67 5.25 30 49 33 26 51
Prepaid Expenses		 2.55 6.73 6.97 7.14 4.74 7.44 13 5.92 7.46 20 15
Current Deferred & Refundable Income Taxes		 0.04 - - - - 0.00 0.05 0.06 0.00 0.57 0.78
Other Current Assets		 2.38 4.74 9.28 17 5.52 72 142 31 54 54 67
Plant, Property, & Equipment, net		 22 21 35 39 38 41 90 90 92 85 182
Total Noncurrent Assets		 22 40 33 32 29 39 51 28 61 76 63
Long-Term Investments		 - - - - - 0.00 0.71 0.95 2.57 2.25 2.49
Intangible Assets		 0.03 0.02 0.02 0.02 0.02 0.01 1.96 1.31 0.84 0.38 0.07
Other Noncurrent Operating Assets		 13 32 25 25 29 39 43 24 58 74 61
Total Liabilities & Shareholders' Equity		 63 93 153 128 96 143 263 244 281 302 426
Total Liabilities		 42 78 151 127 82 90 122 120 168 182 317
Total Current Liabilities		 35 48 117 93 59 74 113 112 160 172 300
Short-Term Debt		 13 1.70 0.15 3.80 27 15 13 16 33 26 29
Accounts Payable		 16 37 80 71 31 40 88 93 124 143 267
Accrued Expenses		 - - - - 0.00 0.16 0.13 1.11 0.02 0.02 0.34
Current Deferred Revenue		 - - - - - 0.15 3.83 1.30 0.38 0.56 0.58
Current Deferred & Payable Income Tax Liabilities		 5.11 - - - - - - - - - 0.00
Other Current Liabilities		 0.18 8.77 37 18 1.48 18 6.97 1.91 2.75 1.27 2.65
Total Noncurrent Liabilities		 7.16 31 34 34 23 17 8.97 6.63 7.20 11 17
Long-Term Debt		 5.20 24 24 25 14 - - - - 0.00 4.12
Capital Lease Obligations		 - - - - - - - - - - 2.09
Other Noncurrent Operating Liabilities		 1.82 6.90 9.82 9.38 9.29 9.35 2.78 1.06 7.20 11 11
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 22 15 2.20 0.33 14 52 141 124 113 120 109
Total Preferred & Common Equity		 22 15 2.20 0.32 14 52 133 117 113 122 113
Total Common Equity		 22 15 2.20 0.32 14 52 133 117 113 122 113
Common Stock		 138 145 156 156 180 225 242 246 248 248 249
Retained Earnings		 -126 -140 -163 -165 -176 -184 -122 -132 -134 -123 -134
Accumulated Other Comprehensive Income / (Loss)		 -0.49 -1.40 -1.34 -1.50 -1.74 -0.24 2.49 -8.15 -12 -15 -13
Other Equity Adjustments		 14 15 15 15 15 15 15 11 15 15 11
Noncontrolling Interest		 - - 0.00 0.01 0.05 0.01 7.59 6.88 0.63 -1.61 -3.20

Quarterly Balance Sheets for China BAK Battery

This table presents China BAK Battery's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 287 286 280 293 311 333 364 491
Total Current Assets		 136 130 123 130 143 143 158 238
Cash & Equivalents		 3.18 3.03 9.71 10 4.05 5.68 10 9.34
Accounts Receivable		 46 36 33 35 41 35 48 47
Inventories, net		 37 28 31 24 31 37 34 76
Prepaid Expenses		 7.27 8.44 5.02 9.95 18 9.36 11 17
Current Deferred & Refundable Income Taxes		 0.00 - - - 0.46 0.48 0.77 0.79
Other Current Assets		 43 33 10 37 43 16 53 89
Plant, Property, & Equipment, net		 94 89 87 89 84 84 83 188
Total Noncurrent Assets		 57 67 69 74 84 106 121 64
Long-Term Investments		 0.90 2.50 2.26 2.34 2.31 2.32 2.34 2.52
Noncurrent Note & Lease Receivables		 - - - - - - 1.00 -0.10
Intangible Assets		 0.94 0.72 0.60 0.51 0.27 0.15 0.07 0.07
Other Noncurrent Operating Assets		 52 64 66 71 81 103 118 62
Total Liabilities & Shareholders' Equity		 287 286 280 293 311 333 364 491
Total Liabilities		 167 165 153 163 193 217 245 389
Total Current Liabilities		 161 156 145 154 176 199 228 368
Short-Term Debt		 34 36 35 26 30 34 31 38
Accounts Payable		 127 115 105 89 144 163 196 326
Accrued Expenses		 0.02 0.02 0.02 35 0.02 0.02 0.02 0.48
Current Deferred Revenue		 0.37 0.49 0.48 0.50 0.56 0.57 0.57 0.59
Current Deferred & Payable Income Tax Liabilities		 - 1.04 0.80 0.34 - - - 0.01
Other Current Liabilities		 0.37 3.15 2.84 2.70 1.58 1.64 - 3.71
Total Noncurrent Liabilities		 5.96 9.16 8.46 8.87 17 18 15 20
Long-Term Debt		 - - - - 4.13 4.87 4.76 7.65
Other Noncurrent Operating Liabilities		 0.93 3.30 8.46 8.87 2.82 13 0.47 13
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 120 121 127 130 119 116 118 102
Total Preferred & Common Equity		 115 121 127 131 121 118 121 105
Total Common Equity		 115 121 127 131 121 118 121 105
Common Stock		 247 248 248 248 248 248 249 249
Retained Earnings		 -130 -125 -118 -118 -126 -129 -126 -143
Accumulated Other Comprehensive Income / (Loss)		 -14 -13 -14 -9.83 -14 -13 -12 -11
Other Equity Adjustments		 15 15 15 15 17 17 11 11
Noncontrolling Interest		 4.96 0.36 -0.06 -0.78 -2.05 -2.37 -2.95 -2.95

Annual Metrics And Ratios for China BAK Battery

This table displays calculated financial ratios and metrics derived from China BAK Battery's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 12,709,595.00 19,545,468.00 26,223,317.00 26,647,478.00 52,775,198.00 66,467,285.00 88,705,016.00 88,990,858.00 89,467,190.00 89,467,190.00 89,467,190.00
DEI Adjusted Shares Outstanding		 12,709,595.00 19,545,468.00 26,223,317.00 26,647,478.00 52,775,198.00 66,467,285.00 88,705,016.00 88,990,858.00 89,467,190.00 89,467,190.00 89,467,190.00
DEI Earnings Per Adjusted Shares Outstanding		 1.25 -0.65 -0.82 -0.07 -0.20 -0.12 0.69 -0.11 -0.03 0.13 -0.10
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -88.70% -25.42% 462.96% -58.14% -9.16% 69.26% 40.21% 372.24% -17.81% -13.61% 10.52%
EBITDA Growth		 1,306.60% -154.66% -80.72% 106.84% -600.01% 44.21% 1,642.40% -107.77% 248.75% 203.88% -103.48%
EBIT Growth		 295.50% -161.87% -77.15% 94.71% -743.08% 31.90% 933.38% -124.28% 71.95% 403.76% -201.48%
NOPAT Growth		 64.48% -220.66% -74.69% 36.54% 24.93% 15.95% -125.67% 39.88% 36.97% 248.91% -270.77%
Net Income Growth		 -57.98% -179.70% -69.67% 90.88% -454.46% 27.70% 884.52% -118.40% 24.62% 212.25% -214.26%
EPS Growth		 -58.86% -157.72% -29.58% 0.00% 0.00% 0.00% 638.46% -115.71% 72.73% 533.33% -176.92%
Operating Cash Flow Growth		 93.05% -581.71% 144.77% 40.37% -343.19% 75.98% 16.23% 453.97% 207.69% -14.63% 22.29%
Free Cash Flow Firm Growth		 -117.20% -23.11% 91.83% -1,031.76% -136.85% -132.60% -126.58% 178.57% -109.13% 178.49% -176.72%
Invested Capital Growth		 36.98% 17.34% -35.43% 14.87% 83.86% 126.03% 126.38% -50.77% 5.03% -1.19% -4.25%
Revenue Q/Q Growth		 45.25% -32.53% 107.64% -46.33% -17.84% 40.13% 30.74% 12.00% 0.85% -14.85% 20.67%
EBITDA Q/Q Growth		 -7.19% -41.39% -40.39% 120.93% 1.37% -12.62% 11.33% -146.54% 215.03% -13.62% 38.52%
EBIT Q/Q Growth		 -8.43% -36.75% -38.91% 87.20% 1.28% -10.16% 10.20% -855.69% 74.42% -19.52% -18.73%
NOPAT Q/Q Growth		 -83.13% -35.52% -40.25% 36.31% -3.74% -30.94% -12.44% 77.22% 28.88% 58.38% -8.35%
Net Income Q/Q Growth		 -51.48% -51.84% -34.41% 79.47% -0.56% -6.13% 28.32% -212.65% 26.10% 66.69% -26.56%
EPS Q/Q Growth		 -52.14% -36.54% -19.48% 0.00% 0.00% 0.00% 32.08% -200.00% 70.00% 0.00% -42.86%
Operating Cash Flow Q/Q Growth		 87.64% -399.49% 130.35% -60.13% -48.20% -110.93% 75.23% -23.14% 142.67% -28.90% 71.13%
Free Cash Flow Firm Q/Q Growth		 40.04% 12.51% -105.38% 71.21% -143.19% -198.17% -118.71% 168.09% -110.10% -62.09% 70.69%
Invested Capital Q/Q Growth		 48.39% 20.14% 0.00% -7.04% 43.18% 110.70% 125.53% -51.43% -6.84% 5.90% -7.31%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 6.83% -16.69% -18.71% -14.17% 2.80% 7.22% 9.70% 6.94% 15.52% 23.65% 9.44%
EBITDA Margin		 142.92% -104.75% -33.63% 5.50% -30.26% -9.97% 109.72% -1.80% 3.27% 11.49% -0.36%
Operating Margin		 -26.24% -116.91% -36.28% -55.00% -45.46% -22.57% -22.24% -4.63% -3.55% 4.98% -9.45%
EBIT Margin		 139.26% -115.53% -36.35% -4.60% -42.66% -17.16% 102.02% -5.25% -1.79% 6.29% -5.78%
Profit (Net Income) Margin		 114.16% -122.01% -36.77% -8.01% -48.90% -20.89% 116.88% -4.55% -4.18% 5.43% -5.61%
Tax Burden Percent		 81.98% 105.61% 100.00% 100.00% 100.00% 100.00% 114.37% 90.22% 141.07% 86.01% 98.34%
Interest Burden Percent		 100.00% 100.00% 101.15% 174.29% 114.63% 121.70% 100.17% 96.24% 165.40% 100.24% 98.71%
Effective Tax Rate		 27.48% 0.00% 0.00% 0.00% 0.00% 0.00% -14.37% 0.00% 0.00% 13.99% 0.00%
Return on Invested Capital (ROIC)		 -9.31% -23.76% -46.71% -35.16% -17.39% -6.92% -6.90% -4.01% -3.74% 5.46% -9.59%
ROIC Less NNEP Spread (ROIC-NNEP)		 84.38% -47.78% -75.47% -5.94% -28.67% -10.55% 70.07% -8.81% -24.20% 14.85% 0.28%
Return on Net Nonoperating Assets (RNNOA)		 192.47% -45.08% -201.67% -120.01% -137.82% -16.83% 70.60% -4.53% -3.44% 2.75% 0.05%
Return on Equity (ROE)		 183.16% -68.84% -248.38% -155.17% -155.21% -23.75% 63.70% -8.54% -7.18% 8.21% -9.54%
Cash Return on Invested Capital (CROIC)		 -40.52% -39.71% -3.65% -49.00% -76.48% -84.24% -84.35% 64.03% -8.64% 6.66% -5.25%
Operating Return on Assets (OROA)		 36.08% -15.29% -17.22% -0.80% -8.49% -5.41% 26.51% -5.15% -1.39% 3.81% -3.10%
Return on Assets (ROA)		 29.58% -16.15% -17.42% -1.39% -9.73% -6.58% 30.37% -4.47% -3.25% 3.29% -3.01%
Return on Common Equity (ROCE)		 183.16% -68.84% -248.38% -154.43% -154.49% -23.73% 61.19% -8.07% -6.95% 8.24% -9.74%
Return on Equity Simple (ROE_SIMPLE)		 73.26% -83.84% -977.69% -620.79% -79.77% -14.98% 46.18% -9.64% -7.57% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2.65 -8.49 -15 -9.41 -7.06 -5.94 -13 -8.05 -5.08 7.56 -13
NOPAT Margin		 -19.03% -81.84% -25.39% -38.50% -31.82% -15.80% -25.43% -3.24% -2.48% 4.28% -6.61%
Net Nonoperating Expense Percent (NNEP)		 -93.69% 24.02% 28.76% -29.22% 11.28% 3.63% -76.98% 4.80% 20.46% -9.39% -9.87%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -3.47% 5.16% -9.06%
Cost of Revenue to Revenue		 93.17% 116.69% 118.71% 114.17% 97.20% 92.78% 88.82% 93.06% 85.11% 76.35% 90.45%
SG&A Expenses to Revenue		 23.95% 45.69% 7.42% 18.41% 19.88% 9.97% 19.04% 3.92% 6.74% 7.90% 8.30%
R&D to Revenue		 7.21% 18.13% 2.98% 10.15% 8.59% 4.47% 10.01% 4.28% 5.83% 7.37% 8.10%
Operating Expenses to Revenue		 33.07% 100.22% 17.57% 40.84% 48.26% 29.80% 34.74% 11.57% 19.59% 18.68% 18.99%
Earnings before Interest and Taxes (EBIT)		 19 -12 -21 -1.12 -9.47 -6.45 54 -13 -3.66 11 -11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 20 -11 -20 1.34 -6.72 -3.75 58 -4.49 6.68 20 -0.71
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.37 2.65 15.61 32.04 0.00 5.99 1.03 0.75 0.83 0.70 0.66
Price to Tangible Book Value (P/TBV)		 1.37 2.66 15.75 34.31 0.00 5.99 1.06 0.76 0.84 0.70 0.66
Price to Revenue (P/Rev)		 2.14 3.86 0.59 0.41 0.00 8.35 2.60 0.35 0.46 0.48 0.38
Price to Earnings (P/E)		 1.87 0.00 0.00 0.00 0.00 0.00 2.23 0.00 0.00 7.19 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 53.35% 0.00% 0.00% 0.00% 0.00% 0.00% 44.85% 0.00% 0.00% 13.91% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.25 1.65 2.29 1.34 0.00 2.67 0.56 0.78 0.86 0.73 0.71
Enterprise Value to Revenue (EV/Rev)		 2.95 6.12 0.98 1.57 0.00 8.44 2.85 0.41 0.59 0.57 0.48
Enterprise Value to EBITDA (EV/EBITDA)		 2.06 0.00 0.00 28.59 0.00 0.00 2.60 0.00 17.98 4.96 0.00
Enterprise Value to EBIT (EV/EBIT)		 2.12 0.00 0.00 0.00 0.00 0.00 2.79 0.00 0.00 9.05 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.31 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 9.17 4.40 0.00 0.00 0.00 6.82 2.58 2.53 1.93
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.80 0.00 10.91 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.83 1.69 11.09 87.78 2.97 0.29 0.10 0.13 0.29 0.22 0.30
Long-Term Debt to Equity		 0.24 1.57 11.02 76.16 1.00 0.00 0.00 0.00 0.00 0.00 0.04
Financial Leverage		 2.28 0.94 2.67 20.21 4.81 1.60 1.01 0.51 0.14 0.18 0.17
Leverage Ratio		 6.19 4.26 14.26 111.26 15.96 3.61 2.10 1.91 2.21 2.50 3.17
Compound Leverage Factor		 6.19 4.26 14.42 193.92 18.29 4.39 2.10 1.84 3.65 2.50 3.13
Debt to Total Capital		 45.33% 62.76% 91.73% 98.87% 74.81% 22.25% 8.74% 11.14% 22.49% 18.04% 23.16%
Short-Term Debt to Total Capital		 32.21% 4.19% 0.57% 13.09% 49.65% 22.25% 8.74% 11.14% 22.49% 18.04% 20.26%
Long-Term Debt to Total Capital		 13.12% 58.58% 91.16% 85.79% 25.16% 0.00% 0.00% 0.00% 0.00% 0.00% 2.89%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.04% 0.10% 0.01% 4.92% 4.92% 0.43% -1.10% -2.25%
Common Equity to Total Capital		 54.67% 37.24% 8.27% 1.09% 25.10% 77.74% 86.34% 83.94% 77.07% 83.06% 79.09%
Debt to EBITDA		 0.90 -2.34 -1.24 21.39 -6.04 -4.00 0.23 -3.48 4.93 1.30 -46.73
Net Debt to EBITDA		 0.56 -2.16 -1.16 21.06 -5.80 -0.88 0.09 -1.81 3.85 0.86 -31.45
Long-Term Debt to EBITDA		 0.26 -2.19 -1.23 18.56 -2.03 0.00 0.00 0.00 0.00 0.00 -5.83
Debt to NOPAT		 -6.79 -3.00 -1.64 -3.05 -5.74 -2.53 -1.01 -1.94 -6.49 3.50 -2.56
Net Debt to NOPAT		 -4.23 -2.77 -1.53 -3.01 -5.51 -0.56 -0.40 -1.01 -5.07 2.31 -1.72
Long-Term Debt to NOPAT		 -1.96 -2.80 -1.63 -2.65 -1.93 0.00 0.00 0.00 0.00 0.00 -0.32
Altman Z-Score		 -1.41 -2.30 -1.68 -1.95 0.00 0.83 1.50 0.60 0.21 0.30 -0.26
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.47% 0.46% 0.09% 3.93% 5.46% 3.16% -0.42% -2.09%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.57 0.68 0.73 0.61 0.48 1.71 2.17 1.12 0.80 0.82 0.60
Quick Ratio		 0.33 0.09 0.51 0.24 0.16 0.56 0.53 0.35 0.21 0.23 0.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -12 -14 -1.16 -13 -31 -72 -164 129 -12 9.22 -7.07
Operating Cash Flow to CapEx		 -15.85% -234.32% 51.60% 119.09% -876.89% -89.27% -22.23% 125.01% 149.35% 233.95% 109.10%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -4.73 -15.71 -22.42 -51.62 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 25.37 10.46 -15.32 -3.64 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -23.80 1.68 -17.07 -7.72 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.26 0.13 0.47 0.17 0.20 0.32 0.26 0.98 0.78 0.61 0.54
Accounts Receivable Turnover		 4.81 2.90 1.95 0.62 1.49 2.00 1.28 5.81 6.63 5.73 5.47
Inventory Turnover		 4.54 1.23 5.26 2.87 2.36 5.01 2.64 5.82 4.20 4.53 4.60
Fixed Asset Turnover		 1.24 0.48 2.10 0.66 0.58 0.95 0.80 2.76 2.25 1.99 1.48
Accounts Payable Turnover		 0.87 0.45 1.19 0.37 0.43 0.99 0.73 2.55 1.60 1.01 0.86
Days Sales Outstanding (DSO)		 75.94 125.92 187.27 592.09 244.25 182.29 284.87 62.79 55.04 63.73 66.72
Days Inventory Outstanding (DIO)		 80.38 295.60 69.46 127.28 154.73 72.89 138.05 62.75 86.91 80.53 79.27
Days Payable Outstanding (DPO)		 421.33 808.37 307.97 984.79 856.98 369.68 500.69 143.06 228.15 361.96 423.81
Cash Conversion Cycle (CCC)		 -265.02 -386.85 -51.25 -265.42 -458.00 -114.49 -77.76 -17.52 -86.20 -217.69 -277.82
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 33 39 25 29 53 119 269 133 139 138 132
Invested Capital Turnover		 0.49 0.29 1.84 0.91 0.55 0.44 0.27 1.24 1.50 1.28 1.45
Increase / (Decrease) in Invested Capital		 8.87 5.70 -14 3.70 24 66 150 -137 6.67 -1.66 -5.84
Enterprise Value (EV)		 41 64 57 38 0.00 317 150 103 120 101 94
Market Capitalization		 30 40 34 10 0.00 314 137 88 94 85 75
Book Value per Share		 $1.70 $0.77 $0.08 $0.01 $0.26 $0.79 $1.50 $1.32 $1.26 $1.35 $1.26
Tangible Book Value per Share		 $1.70 $0.77 $0.08 $0.01 $0.26 $0.79 $1.46 $1.31 $1.25 $1.35 $1.26
Total Capital		 40 41 27 29 54 67 154 140 146 146 142
Total Debt		 18 25 24 29 41 15 13 16 33 26 33
Total Long-Term Debt		 5.20 24 24 25 14 0.00 0.00 0.00 0.00 0.00 4.12
Net Debt		 11 23 23 28 39 3.31 5.42 8.13 26 17 22
Capital Expenditures (CapEx)		 13 5.93 12 7.33 2.42 5.71 19 12 31 17 45
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.97 -15 -33 -33 -5.21 56 138 23 -3.79 -11 -99
Debt-free Net Working Capital (DFNWC)		 -2.20 -14 -32 -33 -3.59 67 146 29 0.86 -3.88 -90
Net Working Capital (NWC)		 -15 -15 -32 -37 -31 52 132 14 -32 -30 -119
Net Nonoperating Expense (NNE)		 -19 4.17 6.64 -7.45 3.79 1.91 -75 3.27 3.46 -2.03 -1.96
Net Nonoperating Obligations (NNO)		 11 23 23 28 39 66 128 8.13 26 17 22
Total Depreciation and Amortization (D&A)		 0.51 1.12 1.59 2.47 2.75 2.70 4.06 8.56 10 9.17 11
Debt-free, Cash-free Net Working Capital to Revenue		 -64.48% -149.44% -56.81% -135.99% -23.46% 148.30% 262.50% 9.19% -1.85% -6.00% -50.54%
Debt-free Net Working Capital to Revenue		 -15.85% -130.60% -54.00% -134.15% -16.19% 179.39% 276.47% 11.81% 0.42% -2.20% -46.28%
Net Working Capital to Revenue		 -107.67% -146.96% -54.26% -149.71% -137.46% 139.48% 250.86% 5.54% -15.69% -17.16% -61.07%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.23 ($0.71) $0.00 ($0.07) ($0.28) ($0.10) $0.70 ($0.11) ($0.03) $0.13 ($0.10)
Adjusted Weighted Average Basic Shares Outstanding		 12.72M 17.79M 23.24M 26.60M 38.97M 61.99M 87.61M 88.93M 89.25M 89.93M 89.25M
Adjusted Diluted Earnings per Share		 $1.23 ($0.71) ($0.92) ($0.07) $0.00 $0.00 $0.70 ($0.11) ($0.03) $0.13 ($0.10)
Adjusted Weighted Average Diluted Shares Outstanding		 12.88M 17.79M 23.24M 26.60M 0.00 0.00 87.88M 88.93M 89.25M 90.16M 89.25M
Adjusted Basic & Diluted Earnings per Share		 $1.23 $0.00 $0.00 ($0.07) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 12.90M 17.79M 23.24M 26.60M 0.00 0.00 0.00 0.00 89.92M 89.94M 88.65M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.65 -8.49 -14 -8.76 -5.43 -2.89 -7.71 -3.58 1.53 7.97 -13
Normalized NOPAT Margin		 -19.03% -81.84% -24.23% -35.87% -24.48% -7.70% -14.65% -1.44% 0.75% 4.51% -6.61%
Pre Tax Income Margin		 139.26% -115.53% -36.77% -8.01% -48.90% -20.89% 102.20% -5.05% -2.96% 6.31% -5.71%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -86.62 -1.35 -6.84 -4.61 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 -60.50 -11.27 -5.10 -4.24 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 -135.79 -10.13 -8.58 -8.69 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -109.68 -20.06 -6.85 -8.32 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -13.70%

Quarterly Metrics And Ratios for China BAK Battery

This table displays calculated financial ratios and metrics derived from China BAK Battery's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00
DEI Adjusted Shares Outstanding		 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00 89,467,190.00
DEI Earnings Per Adjusted Shares Outstanding		 0.07 -0.05 0.11 0.07 0.00 -0.05 -0.02 -0.03 0.03 -0.08 -0.10
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.91% 3.16% 38.74% 12.66% -29.65% -54.84% -40.60% -15.21% 36.51% 131.77% 99.26%
EBITDA Growth		 1,054.35% 102.33% 4,557.52% 906.68% -74.98% -1,533.51% -97.64% -111.50% 83.93% 11.50% -1,798.65%
EBIT Growth		 454.90% 76.57% 507.25% 308.78% -106.34% -82.72% -119.79% -149.26% 648.23% -29.89% -325.19%
NOPAT Growth		 638.10% 33.34% 558.67% 298.76% -110.38% -12.02% -121.67% -147.05% -663.45% -21.54% -238.71%
Net Income Growth		 779.15% 24.77% 534.23% 304.92% -111.89% 41.87% -121.43% -155.79% 403.78% -43.16% -336.98%
EPS Growth		 0.00% 58.33% 650.00% 333.33% -100.00% 0.00% -118.18% -142.86% 0.00% -60.00% -400.00%
Operating Cash Flow Growth		 863.94% 1,730.30% -21.78% -53.35% 300.35% -62.63% -229.19% 368.02% -25.85% 209.65% 331.62%
Free Cash Flow Firm Growth		 183.49% -108.27% 6,585.96% 483.09% -85.30% 72.58% -109.63% -46.11% -187.74% 107.68% 103.67%
Invested Capital Growth		 -45.24% 5.03% -50.17% -54.76% -13.08% -1.19% 8.84% -69.78% 9.41% -4.25% -5.10%
Revenue Q/Q Growth		 49.55% -11.45% 4.70% -18.75% -6.62% -43.15% 37.71% 15.99% 50.34% -3.48% 18.39%
EBITDA Q/Q Growth		 761.31% -96.40% 4,809.60% -30.92% -79.49% -306.04% 108.07% -436.96% 428.11% -199.13% -54.98%
EBIT Q/Q Growth		 268.14% -159.71% 426.47% -36.30% -105.11% -1,619.62% 64.63% -58.54% 156.86% -507.43% -15.77%
NOPAT Q/Q Growth		 311.46% -173.78% 324.46% -43.25% -111.04% -696.55% 56.57% -23.20% -79.12% -26.81% -21.03%
Net Income Q/Q Growth		 296.11% -258.91% 204.51% -37.08% -111.38% -676.76% 61.48% -63.84% 161.97% -466.05% -17.57%
EPS Q/Q Growth		 333.33% -171.43% 320.00% -36.36% -100.00% 0.00% 60.00% -50.00% 200.00% -366.67% -25.00%
Operating Cash Flow Q/Q Growth		 -22.02% 423.83% -71.09% -60.50% 569.27% -51.11% -199.95% 243.11% 6.04% 104.17% -25.24%
Free Cash Flow Firm Q/Q Growth		 413.76% -108.36% 1,412.27% 3.44% -87.05% -115.60% -360.59% 679.19% -121.08% 101.37% 120.21%
Invested Capital Q/Q Growth		 -42.05% -6.84% -5.59% -11.24% 11.34% 5.90% 4.00% -75.36% 303.10% -7.31% 3.07%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.31% 22.81% 31.93% 26.63% 15.58% 13.05% 13.74% 11.01% 8.00% 7.28% 1.49%
EBITDA Margin		 11.76% 0.48% 22.39% 19.03% 4.18% -15.16% 0.89% -2.58% 5.63% -5.79% -7.58%
Operating Margin		 8.34% -10.48% 17.45% 12.44% -1.86% -25.99% -8.20% -8.71% -6.62% -13.63% -13.93%
EBIT Margin		 8.60% -5.80% 18.09% 14.18% -0.78% -23.47% -6.03% -8.24% 3.12% -13.15% -12.86%
Profit (Net Income) Margin		 9.09% -16.30% 16.27% 12.60% -1.54% -20.99% -5.87% -8.29% 3.42% -12.96% -12.87%
Tax Burden Percent		 105.60% 161.89% 90.13% 88.27% 197.99% 89.42% 100.00% 100.00% 109.68% 99.99% 100.08%
Interest Burden Percent		 100.00% 173.60% 99.82% 100.67% 99.98% 100.00% 97.38% 100.64% 100.01% 98.56% 100.00%
Effective Tax Rate		 -5.60% 0.00% 9.87% 11.73% 0.00% 0.00% 0.00% 0.00% -9.68% 0.00% 0.00%
Return on Invested Capital (ROIC)		 8.45% -11.04% 17.58% 13.27% -1.93% -23.23% -6.39% -11.68% -8.64% -13.84% -16.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.66% -40.81% 18.01% 14.43% -2.65% -26.51% -6.66% -9.71% 47.73% -23.99% -23.60%
Return on Net Nonoperating Assets (RNNOA)		 6.13% -5.81% 11.13% 8.02% -0.31% -4.90% -0.95% 3.62% 4.43% -4.14% -6.17%
Return on Equity (ROE)		 14.59% -16.85% 28.71% 21.29% -2.24% -28.13% -7.34% -8.05% -4.21% -17.98% -22.26%
Cash Return on Invested Capital (CROIC)		 55.09% -8.64% 68.32% 81.31% 17.41% 6.66% -10.68% 94.44% -17.75% -5.25% -7.46%
Operating Return on Assets (OROA)		 6.48% -4.52% 14.83% 12.07% -0.55% -14.21% -3.08% -3.91% 1.53% -7.05% -7.37%
Return on Assets (ROA)		 6.85% -12.69% 13.35% 10.72% -1.10% -12.71% -3.00% -3.94% 1.68% -6.95% -7.38%
Return on Common Equity (ROCE)		 13.88% -16.32% 27.95% 20.81% -2.20% -28.25% -7.39% -8.13% -4.27% -18.36% -22.76%
Return on Equity Simple (ROE_SIMPLE)		 -10.08% 0.00% 2.68% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 5.59 -4.12 9.25 5.25 -0.58 -4.62 -2.00 -2.47 -4.42 -5.61 -6.79
NOPAT Margin		 8.80% -7.34% 15.72% 10.98% -1.30% -18.19% -5.74% -6.10% -7.26% -9.54% -9.75%
Net Nonoperating Expense Percent (NNEP)		 -0.20% 29.77% -0.43% -1.16% 0.72% 3.28% 0.27% -1.97% -56.37% 10.15% 7.52%
Return On Investment Capital (ROIC_SIMPLE)		 - -2.82% 5.87% 3.22% -0.37% -3.15% -1.29% -1.59% -2.86% -3.94% -4.60%
Cost of Revenue to Revenue		 80.73% 79.20% 68.07% 73.37% 84.42% 86.95% 86.26% 88.99% 92.00% 92.36% 98.52%
SG&A Expenses to Revenue		 5.11% 7.99% 6.96% 6.55% 6.23% 15.55% 10.89% 8.27% 6.36% 8.79% 6.48%
R&D to Revenue		 4.06% 6.97% 4.79% 6.18% 7.70% 15.00% 8.66% 8.92% 6.34% 9.02% 6.06%
Operating Expenses to Revenue		 10.93% 35.49% 14.48% 14.19% 17.44% 39.05% 21.94% 19.72% 14.62% 21.27% 15.41%
Earnings before Interest and Taxes (EBIT)		 5.46 -3.26 11 6.78 -0.35 -5.96 -2.11 -3.34 1.90 -7.74 -8.95
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 7.46 0.27 13 9.10 1.87 -3.85 0.31 -1.05 3.43 -3.40 -5.27
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.64 0.83 0.78 0.98 0.86 0.70 0.59 0.90 0.66 0.66 0.70
Price to Tangible Book Value (P/TBV)		 0.65 0.84 0.78 0.98 0.86 0.70 0.59 0.90 0.66 0.66 0.70
Price to Revenue (P/Rev)		 0.36 0.46 0.42 0.55 0.54 0.48 0.47 0.73 0.50 0.38 0.32
Price to Earnings (P/E)		 0.00 0.00 10.69 6.92 9.78 7.19 191.51 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 9.35% 14.46% 10.22% 13.91% 0.52% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.72 0.86 0.79 0.97 0.86 0.73 0.66 2.68 0.71 0.71 0.77
Enterprise Value to Revenue (EV/Rev)		 0.53 0.59 0.47 0.50 0.54 0.57 0.61 0.65 0.62 0.48 0.45
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 17.98 5.18 3.74 4.75 4.96 12.64 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 10.87 5.79 8.07 9.05 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 39.21 10.28 23.36 13.31 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.64 2.58 2.35 2.76 2.00 2.53 4.15 2.83 3.54 1.93 1.30
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.93 0.00 0.77 0.75 4.58 10.91 0.00 1.32 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.28 0.29 0.30 0.29 0.20 0.22 0.30 0.34 0.30 0.30 0.44
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.04 0.04 0.04 0.07
Financial Leverage		 0.71 0.14 0.62 0.56 0.12 0.18 0.14 -0.37 0.09 0.17 0.26
Leverage Ratio		 2.18 2.21 2.21 2.21 2.32 2.50 2.49 2.53 2.64 3.17 3.63
Compound Leverage Factor		 2.18 3.83 2.20 2.22 2.32 2.50 2.43 2.54 2.64 3.13 3.63
Debt to Total Capital		 21.90% 22.49% 23.11% 22.35% 16.65% 18.04% 23.35% 25.23% 23.32% 23.16% 30.75%
Short-Term Debt to Total Capital		 21.90% 22.49% 23.11% 22.35% 16.65% 18.04% 19.13% 22.09% 20.23% 20.26% 25.56%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.22% 3.14% 3.08% 2.89% 5.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 3.24% 0.43% 0.23% -0.04% -0.50% -1.10% -1.32% -1.53% -1.91% -2.25% -2.00%
Common Equity to Total Capital		 74.86% 77.07% 76.66% 77.69% 83.85% 83.06% 77.98% 76.30% 78.60% 79.09% 71.25%
Debt to EBITDA		 -5.78 4.93 1.81 1.20 1.11 1.30 4.87 -14.40 -31.36 -46.73 -7.21
Net Debt to EBITDA		 -5.08 3.85 0.50 -0.33 -0.02 0.86 3.27 3.30 -20.21 -31.45 -5.33
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.88 -1.79 -4.15 -5.83 -1.22
Debt to NOPAT		 -4.70 -6.49 13.71 3.30 5.46 3.50 -11.91 -4.04 -3.02 -2.56 -2.56
Net Debt to NOPAT		 -4.13 -5.07 3.82 -0.90 -0.11 2.31 -7.99 0.93 -1.95 -1.72 -1.89
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 -2.15 -0.50 -0.40 -0.32 -0.43
Altman Z-Score		 0.30 0.22 0.52 0.69 0.46 0.11 0.00 -0.05 -0.06 -0.24 -0.20
Noncontrolling Interest Sharing Ratio		 4.81% 3.16% 2.67% 2.26% 1.67% -0.42% -0.70% -1.00% -1.50% -2.09% -2.26%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.84 0.80 0.83 0.85 0.85 0.82 0.82 0.72 0.69 0.60 0.65
Quick Ratio		 0.30 0.21 0.39 0.53 0.38 0.23 0.29 0.40 0.26 0.16 0.15
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 129 -11 142 146 19 -2.96 -14 79 -17 0.23 0.50
Operating Cash Flow to CapEx		 91.63% 415.41% 94.25% 671.07% 626.70% 169.64% -75.82% 142.98% 172.82% 216.99% 189.10%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.75 0.78 0.82 0.85 0.71 0.61 0.51 0.47 0.49 0.54 0.57
Accounts Receivable Turnover		 5.48 6.63 6.66 7.29 5.15 5.73 3.95 4.32 3.91 5.47 5.26
Inventory Turnover		 4.01 4.20 4.41 4.68 5.12 4.53 4.23 3.67 4.94 4.60 4.04
Fixed Asset Turnover		 2.23 2.25 2.49 2.14 2.27 1.99 1.73 1.41 1.88 1.48 1.67
Accounts Payable Turnover		 1.67 1.60 1.62 1.64 1.46 1.01 0.97 0.94 1.01 0.86 0.92
Days Sales Outstanding (DSO)		 66.64 55.04 54.82 50.05 70.81 63.73 92.32 84.54 93.33 66.72 69.35
Days Inventory Outstanding (DIO)		 90.94 86.91 82.70 78.04 71.24 80.53 86.28 99.52 73.89 79.27 90.38
Days Payable Outstanding (DPO)		 218.66 228.15 225.02 223.22 250.80 361.96 377.79 389.04 360.70 423.81 398.43
Cash Conversion Cycle (CCC)		 -61.08 -86.20 -87.50 -95.13 -108.75 -217.69 -199.19 -204.99 -193.49 -277.82 -238.70
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 149 139 131 117 130 138 143 35 142 132 136
Invested Capital Turnover		 0.96 1.50 1.12 1.21 1.49 1.28 1.11 1.92 1.19 1.45 1.65
Increase / (Decrease) in Invested Capital		 -123 6.67 -132 -141 -20 -1.66 12 -81 12 -5.84 -7.29
Enterprise Value (EV)		 108 120 104 113 111 101 94 95 100 94 104
Market Capitalization		 74 94 94 123 113 85 72 106 80 75 74
Book Value per Share		 $1.28 $1.26 $1.34 $1.41 $1.46 $1.35 $1.34 $1.32 $1.35 $1.26 $1.18
Tangible Book Value per Share		 $1.27 $1.25 $1.34 $1.40 $1.45 $1.35 $1.34 $1.32 $1.35 $1.26 $1.18
Total Capital		 153 146 158 163 156 146 155 155 154 142 148
Total Debt		 34 33 36 36 26 26 36 39 36 33 45
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 6.53 4.87 4.76 4.12 7.65
Net Debt		 29 26 10 -9.90 -0.53 17 24 -8.96 23 22 34
Capital Expenditures (CapEx)		 5.37 6.20 7.90 0.44 3.14 5.67 13 9.63 8.45 14 12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5.32 -3.79 -13 -29 -22 -11 -12 -67 -50 -99 -101
Debt-free Net Working Capital (DFNWC)		 8.49 0.86 11 15 2.28 -3.88 -2.71 -22 -39 -90 -92
Net Working Capital (NWC)		 -25 -32 -26 -21 -24 -30 -32 -56 -70 -119 -130
Net Nonoperating Expense (NNE)		 -0.18 5.04 -0.32 -0.77 0.11 0.71 0.05 0.89 -6.51 2.01 2.17
Net Nonoperating Obligations (NNO)		 30 26 10 -9.90 -0.53 17 24 -81 24 22 34
Total Depreciation and Amortization (D&A)		 2.00 3.53 2.53 2.32 2.21 2.11 2.42 2.29 1.53 4.33 3.68
Debt-free, Cash-free Net Working Capital to Revenue		 2.62% -1.85% -6.00% -12.74% -10.58% -6.00% -8.05% -46.39% -30.62% -50.54% -44.11%
Debt-free Net Working Capital to Revenue		 4.19% 0.42% 4.78% 6.73% 1.10% -2.20% -1.77% -14.95% -24.14% -46.28% -40.05%
Net Working Capital to Revenue		 -12.35% -15.69% -11.73% -9.37% -11.46% -17.16% -21.18% -38.47% -43.47% -61.07% -56.46%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.07 ($0.05) $0.11 $0.07 $0.00 ($0.05) ($0.02) ($0.03) $0.03 ($0.08) ($0.10)
Adjusted Weighted Average Basic Shares Outstanding		 89.47M 89.25M 89.93M 89.93M 89.93M 89.93M 89.94M 89.77M 89.64M 89.25M 89.25M
Adjusted Diluted Earnings per Share		 $0.07 ($0.05) $0.11 $0.07 $0.00 ($0.05) ($0.02) ($0.03) $0.03 ($0.08) ($0.10)
Adjusted Weighted Average Diluted Shares Outstanding		 89.90M 89.25M 90.12M 90.11M 90.23M 90.16M 89.94M 89.77M 89.66M 89.25M 89.25M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 89.49M 89.92M 89.94M 89.94M 89.94M 89.94M 89.94M 88.65M 88.65M 88.65M 88.65M
Normalized Net Operating Profit after Tax (NOPAT)		 3.70 -4.12 9.25 5.25 -0.58 -4.62 -2.00 -2.47 -2.82 -5.61 -6.79
Normalized NOPAT Margin		 5.84% -7.34% 15.72% 10.98% -1.30% -18.19% -5.74% -6.10% -4.63% -9.54% -9.75%
Pre Tax Income Margin		 8.60% -10.07% 18.06% 14.28% -0.78% -23.47% -5.87% -8.29% 3.12% -12.97% -12.86%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -13.70% 0.00%

Financials Breakdown Chart

Key Financial Trends

China BAK Battery (NASDAQ: CBAT) showed a mixed but improving trend in Q1 2026, with revenue growth and solid operating cash flow, but profitability remains under pressure and the balance sheet is still highly levered.

  • Revenue rose year over year in Q1 2026. Total revenue increased to $69.6 million from $58.8 million in Q4 2025 and $34.9 million in Q1 2025, showing strong top-line momentum.
  • Operating cash flow was strong. CBAT generated $22.3 million in cash from operations in Q1 2026, up from $29.8 million in Q4 2025 and well above $7.9 million in Q1 2025.
  • Cash and equivalents improved sharply. Cash rose to $9.3 million at March 31, 2026, versus $4.1 million a year earlier and $5.7 million at Q2 2025.
  • The company continued to invest in its asset base. Property, plant and equipment stood at $188.2 million, up meaningfully from $84.3 million in Q1 2025, indicating ongoing expansion or capacity investment.
  • Equity improved year over year. Total common equity increased to $105.2 million from $120.8 million in Q1 2025 and $118.7 million in Q2 2025, though it remains below earlier 2025 levels.
  • Working capital dynamics helped operating cash flow. Q1 2026 cash from operations benefited from a large $23.6 million contribution from changes in operating assets and liabilities, which can be helpful but may not recur every quarter.
  • Non-cash charges continue to support cash generation. Depreciation, amortization, and other non-cash adjustments added about $7.7 million back to operating cash flow in Q1 2026.
  • Revenue growth came with higher cost of revenue. Cost of revenue was $68.6 million, leaving only $1.0 million of gross profit, so margins remain very thin.
  • CBAT remained unprofitable. Q1 2026 net loss attributable to common shareholders was $9.3 million, versus a $7.4 million loss in Q4 2025 and a $1.6 million loss in Q1 2025.
  • Operating losses widened quarter over quarter. Operating loss was $9.7 million in Q1 2026, compared with a $8.0 million operating loss in Q4 2025.
  • Liquidity is constrained by a very heavy current liability load. Current liabilities were $368.2 million versus only $238.4 million in current assets, suggesting a tight short-term liquidity position.
  • Accounts payable is extremely large. Payables totaled $325.7 million, which is the largest liability on the balance sheet and a potential source of financial pressure.
  • Debt remains elevated relative to cash. Short-term debt of $37.7 million and long-term debt of $7.7 million far exceed cash on hand, so the company is still dependent on financing and working-capital support.

Bottom line: CBAT’s Q1 2026 results show better sales and strong operating cash flow, but the business is still operating with razor-thin gross profit, recurring net losses, and a stretched balance sheet. Investors will likely want to see whether revenue growth can translate into sustained margin improvement and reduced reliance on payables and debt financing.

07/17/26 07:02 PM ETAI Generated. May Contain Errors.

China BAK Battery Financials - Frequently Asked Questions

According to the most recent income statement we have on file, China BAK Battery's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

China BAK Battery's net income appears to be on an upward trend, with a most recent value of -$10.95 million in 2025, falling from $15.87 million in 2015. The previous period was $9.59 million in 2024. View China BAK Battery's forecast to see where analysts expect China BAK Battery to go next.

China BAK Battery's total operating income in 2025 was -$18.44 million, based on the following breakdown:
  • Total Gross Profit: $18.42 million
  • Total Operating Expenses: $37.07 million

Over the last 10 years, China BAK Battery's total revenue changed from $13.90 million in 2015 to $195.19 million in 2025, a change of 1,303.8%.

China BAK Battery's total liabilities were at $316.70 million at the end of 2025, a 73.9% increase from 2024, and a 659.5% increase since 2015.

In the past 10 years, China BAK Battery's cash and equivalents has ranged from $449.67 thousand in 2018 to $11.68 million in 2020, and is currently $8.30 million as of their latest financial filing in 2025.

Over the last 10 years, China BAK Battery's book value per share changed from 1.70 in 2015 to 1.26 in 2025, a change of -25.9%.


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Financial statements for NASDAQ:CBAT last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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