What is U Power's operating income?

U Power's total operating income in 2025 was -$8.33 million, based on the following breakdown: Total Gross Profit: $2.13 million Total Operating Expenses: $8.66 million

U Power (UCAR) Financials

$0.47 -0.01 (-2.77%)

As of 09/4/2026 04:00 PM Eastern

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Annual Income Statements for U Power

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

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-6.50	-6.66	-2.72	-6.57	-9.83
Consolidated Net Income / (Loss)	-14	-8.36	-3.59	-7.72	-12
Net Income / (Loss) Continuing Operations	-7.70	-8.36	-3.59	-7.72	-12
Total Pre-Tax Income	-7.29	-8.36	-3.22	-7.72	-11
Total Operating Income	-7.05	-8.16	-5.20	-7.94	-8.33
Total Gross Profit	0.45	0.39	1.71	1.43	2.13
Total Revenue	1.26	1.13	2.78	6.07	5.88
Operating Revenue	1.26	1.13	2.78	6.07	5.88
Total Cost of Revenue	0.81	2.17	1.24	5.36	5.55
Operating Cost of Revenue	0.81	0.74	1.07	4.63	3.75
Other Cost of Revenue	0.00	1.42	0.17	0.72	1.80
Total Operating Expenses	7.50	7.12	6.74	8.66	8.66
Selling, General & Admin Expense	5.90	5.47	5.81	6.43	7.53
Marketing Expense	0.76	0.30	0.35	0.38	0.48
Research & Development Expense	0.84	1.36	0.31	0.41	0.66
Impairment Charge	0.00	0.00	0.28	1.44	0.00
Total Other Income / (Expense), net	-0.24	-0.20	1.98	0.22	-2.66
Interest Expense	0.11	0.11	0.26	0.19	0.03
Interest & Investment Income	0.07	0.01	0.08	0.10	0.40
Other Income / (Expense), net	-0.20	-0.10	2.16	0.31	-3.04
Income Tax Expense	0.41	0.00	0.37	0.00	0.51
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.20	-1.70	-0.86	-1.16	-1.68
Basic Earnings per Share	($82.80)	($13.32)	($2.19)	($2.30)	($0.31)
Weighted Average Basic Shares Outstanding	500K	500K	1.24M	2.85M	4.57M
Diluted Earnings per Share	-	($13.32)	($2.19)	($2.30)	($0.31)
Weighted Average Diluted Shares Outstanding	-	500K	1.24M	2.85M	4.57M
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.24M	4.42M	497.15K

No quarterly income statements for U Power are available.

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

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-16	-2.87	4.21	-1.52	-0.34
Net Cash From Operating Activities	-13	-1.87	-9.22	-10	-9.99
Net Cash From Continuing Operating Activities	-13	-1.87	-9.15	-10	-10
Net Income / (Loss) Continuing Operations	-7.70	-8.36	-3.59	-7.72	-12
Consolidated Net Income / (Loss)	-7.70	-8.36	-3.59	-7.72	-12
Depreciation Expense	0.28	0.30	0.37	0.42	0.30
Amortization Expense	0.54	0.81	0.81	0.75	0.91
Non-Cash Adjustments To Reconcile Net Income	-11	11	0.70	2.03	0.24
Changes in Operating Assets and Liabilities, net	5.23	-5.21	-7.44	-5.56	-0.42
Net Cash From Investing Activities	-2.32	-1.65	-12	6.73	3.41
Net Cash From Continuing Investing Activities	-2.32	-1.65	-12	6.73	3.41
Purchase of Property, Plant & Equipment	-1.50	-1.13	-0.12	-0.00	-0.07
Purchase of Investments	-1.24	-0.83	-2.08	-0.10	-5.75
Sale of Property, Plant & Equipment	-	0.00	0.00	0.02	0.00
Sale and/or Maturity of Investments	0.57	0.31	1.04	4.52	5.68
Other Investing Activities, net	0.09	0.00	-11	2.29	3.55
Net Cash From Financing Activities	-0.63	0.65	25	1.78	6.73
Net Cash From Continuing Financing Activities	-0.63	0.65	25	1.78	6.73
Repayment of Debt	-2.51	-0.07	-0.25	-3.16	-1.06
Issuance of Debt	1.73	0.00	2.82	1.39	0.29
Issuance of Common Equity	0.16	0.72	22	3.54	7.51
Other Financing Activities, net	-	-	0.70	0.00	0.00
Cash Interest Paid	-	-	0.00	0.00	0.14
Cash Income Taxes Paid	-	-	0.00	0.00	0.00

No quarterly cash flow statements for U Power are available.

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

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	41	60	53	54
Total Current Assets	7.83	23	14	21
Cash & Equivalents	0.71	0.27	3.21	3.14
Restricted Cash	0.15	4.83	0.17	0.05
Accounts Receivable	0.25	2.24	4.39	12
Inventories, net	1.81	2.29	2.65	3.38
Other Current Assets	4.92	13	3.98	2.57
Plant, Property, & Equipment, net	2.36	4.71	3.41	2.63
Total Noncurrent Assets	31	33	35	31
Long-Term Investments	16	17	18	19
Intangible Assets	0.04	0.03	0.02	0.01
Other Noncurrent Operating Assets	14	15	17	11
Total Liabilities & Shareholders' Equity	41	60	53	54
Total Liabilities	11	11	8.87	12
Total Current Liabilities	8.58	11	7.79	12
Short-Term Debt	0.94	2.04	2.46	2.71
Accounts Payable	1.61	6.40	3.78	7.07
Current Deferred Revenue	0.47	0.36	0.15	0.46
Current Deferred & Payable Income Tax Liabilities	0.37	0.73	0.71	1.14
Other Current Liabilities	0.28	1.01	0.70	0.33
Total Noncurrent Liabilities	2.14	0.84	1.07	0.34
Long-Term Debt	1.45	0.00	0.51	0.00
Capital Lease Obligations	-	0.84	0.57	0.34
Commitments & Contingencies	0.42	0.49	0.00	0.83
Total Equity & Noncontrolling Interests	30	49	44	41
Total Preferred & Common Equity	24	43	40	39
Total Common Equity	24	43	40	39
Common Stock	46	68	70	81
Retained Earnings	-22	-24	-30	-41
Accumulated Other Comprehensive Income / (Loss)	0.00	0.06	0.00	-0.61
Noncontrolling Interest	5.67	5.35	4.04	2.54

No quarterly balance sheets for U Power are available.

This table displays calculated financial ratios and metrics derived from U Power's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	1,243,140.00	1,243,140.00	1,243,140.00
DEI Adjusted Shares Outstanding	0.00	0.00	12.00	12.00	12.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-226,975.03	-547,107.26	-818,902.44
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	-10.07%	146.28%	117.97%	-3.08%
EBITDA Growth	0.00%	-10.96%	73.90%	-247.01%	-57.23%
EBIT Growth	0.00%	-13.83%	63.23%	-151.36%	-49.04%
NOPAT Growth	0.00%	-15.62%	36.27%	-52.85%	-4.88%
Net Income Growth	0.00%	41.10%	57.10%	-115.28%	-49.04%
EPS Growth	0.00%	0.00%	57.10%	-115.28%	-49.04%
Operating Cash Flow Growth	0.00%	85.51%	-393.12%	-8.75%	0.29%
Free Cash Flow Firm Growth	0.00%	0.00%	16.87%	89.32%	-54.73%
Invested Capital Growth	0.00%	0.00%	90.29%	-12.51%	-11.35%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-
Gross Margin	35.87%	34.11%	61.59%	23.62%	36.27%
EBITDA Margin	-511.89%	-631.64%	-66.93%	-106.56%	-172.87%
Operating Margin	-561.19%	-721.51%	-186.72%	-130.93%	-141.68%
EBIT Margin	-577.07%	-730.46%	-109.06%	-125.77%	-193.41%
Profit (Net Income) Margin	-1,129.38%	-739.70%	-128.85%	-127.26%	-195.69%
Tax Burden Percent	194.62%	100.01%	111.43%	100.00%	104.66%
Interest Burden Percent	100.56%	101.26%	106.02%	101.18%	96.68%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-73.81%	-16.20%	-20.15%	-24.01%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-36.60%	-16.51%	-8.57%	6.94%
Return on Net Nonoperating Assets (RNNOA)	0.00%	17.55%	7.04%	3.46%	-2.99%
Return on Equity (ROE)	0.00%	-56.26%	-9.17%	-16.69%	-26.99%
Cash Return on Invested Capital (CROIC)	0.00%	-273.81%	-78.41%	-6.81%	-11.97%
Operating Return on Assets (OROA)	0.00%	-40.41%	-5.99%	-13.47%	-21.26%
Return on Assets (ROA)	0.00%	-40.92%	-7.08%	-13.63%	-21.51%
Return on Common Equity (ROCE)	0.00%	-45.53%	-7.88%	-15.00%	-24.91%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-34.75%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.94	-5.71	-3.64	-5.56	-5.83
NOPAT Margin	-392.83%	-505.06%	-130.70%	-91.65%	-99.18%
Net Nonoperating Expense Percent (NNEP)	0.00%	-37.21%	0.31%	-11.58%	-30.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-17.78%	-7.08%	-11.71%	-13.15%
Cost of Revenue to Revenue	64.13%	191.61%	44.46%	88.26%	94.36%
SG&A Expenses to Revenue	469.26%	483.76%	208.57%	105.92%	127.97%
R&D to Revenue	67.09%	119.96%	11.05%	6.74%	11.18%
Operating Expenses to Revenue	597.05%	629.90%	242.25%	142.67%	147.32%
Earnings before Interest and Taxes (EBIT)	-7.25	-8.26	-3.04	-7.63	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.43	-7.14	-1.86	-6.47	-10
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.60	0.00	0.21	0.05
Price to Tangible Book Value (P/TBV)	0.00	0.60	0.00	0.21	0.05
Price to Revenue (P/Rev)	11.54	12.83	0.00	1.36	0.32
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.35	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	11.54	4.86	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.08	0.06	0.08	0.07
Long-Term Debt to Equity	0.00	0.05	0.02	0.02	0.01
Financial Leverage	0.00	-0.48	-0.43	-0.40	-0.43
Leverage Ratio	0.00	1.37	1.29	1.22	1.26
Compound Leverage Factor	0.00	1.39	1.37	1.24	1.21
Debt to Total Capital	0.00%	7.45%	5.61%	7.44%	6.88%
Short-Term Debt to Total Capital	0.00%	2.93%	3.97%	5.18%	6.12%
Long-Term Debt to Total Capital	0.00%	4.51%	1.64%	2.26%	0.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	17.64%	10.39%	8.51%	5.72%
Common Equity to Total Capital	0.00%	74.91%	84.00%	84.05%	87.40%
Debt to EBITDA	0.00	-0.34	-1.55	-0.55	-0.30
Net Debt to EBITDA	0.00	2.06	10.52	2.82	1.90
Long-Term Debt to EBITDA	0.00	-0.20	-0.45	-0.17	-0.03
Debt to NOPAT	0.00	-0.42	-0.79	-0.64	-0.52
Net Debt to NOPAT	0.00	2.57	5.39	3.28	3.31
Long-Term Debt to NOPAT	0.00	-0.25	-0.23	-0.19	-0.06
Altman Z-Score	0.00	-0.61	0.00	-0.46	-1.35
Noncontrolling Interest Sharing Ratio	0.00%	19.06%	14.07%	10.15%	7.72%
Liquidity Ratios	-	-	-	-	-
Current Ratio	0.00	0.91	2.18	1.85	1.80
Quick Ratio	0.00	0.11	0.24	0.97	1.28
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-21	-18	-1.88	-2.91
Operating Cash Flow to CapEx	-858.97%	-165.94%	-7,428.17%	0.00%	-13,978.81%
Free Cash Flow to Firm to Interest Expense	0.00	-191.19	-67.21	-9.79	-108.20
Operating Cash Flow to Interest Expense	-118.14	-16.87	-35.18	-52.19	-371.77
Operating Cash Flow Less CapEx to Interest Expense	-131.90	-27.04	-35.66	-52.10	-374.43
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.06	0.06	0.11	0.11
Accounts Receivable Turnover	0.00	0.00	2.24	1.83	0.73
Inventory Turnover	0.00	0.00	0.60	2.17	1.84
Fixed Asset Turnover	0.00	0.00	0.79	1.50	1.95
Accounts Payable Turnover	0.00	0.00	0.31	1.05	1.02
Days Sales Outstanding (DSO)	0.00	0.00	163.24	199.30	502.17
Days Inventory Outstanding (DIO)	0.00	0.00	603.71	168.30	198.24
Days Payable Outstanding (DPO)	0.00	0.00	1,182.04	347.00	356.86
Cash Conversion Cycle (CCC)	0.00	0.00	-415.08	20.60	343.55
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	15	29	26	23
Invested Capital Turnover	0.00	0.15	0.12	0.22	0.24
Increase / (Decrease) in Invested Capital	0.00	15	14	-3.68	-2.92
Enterprise Value (EV)	15	5.49	0.00	-5.93	-15
Market Capitalization	15	15	0.00	8.24	1.89
Book Value per Share	$0.00	$48.12	$34.75	$32.12	$8.49
Tangible Book Value per Share	$0.00	$48.03	$34.72	$32.11	$8.48
Total Capital	0.00	32	51	48	44
Total Debt	0.00	2.39	2.88	3.54	3.05
Total Long-Term Debt	0.00	1.45	0.84	1.07	0.34
Net Debt	0.00	-15	-20	-18	-19
Capital Expenditures (CapEx)	1.50	1.13	0.12	-0.02	0.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-0.66	9.38	5.68	8.90
Debt-free Net Working Capital (DFNWC)	0.00	0.20	14	9.06	12
Net Working Capital (NWC)	0.00	-0.74	12	6.60	9.37
Net Nonoperating Expense (NNE)	9.26	2.65	-0.05	2.16	5.68
Net Nonoperating Obligations (NNO)	0.00	-14	-19	-18	-18
Total Depreciation and Amortization (D&A)	0.82	1.12	1.17	1.17	1.21
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-58.31%	336.86%	93.65%	151.29%
Debt-free Net Working Capital to Revenue	0.00%	17.47%	520.22%	149.36%	205.50%
Net Working Capital to Revenue	0.00%	-65.91%	446.85%	108.78%	159.37%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($21.90)	($3.15)	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	124.31K	285.46K	4.57M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($3.15)	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	124.31K	285.46K	4.57M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	124.31K	441.99K	497.15K
Normalized Net Operating Profit after Tax (NOPAT)	-4.94	-5.71	-3.44	-4.55	-5.83
Normalized NOPAT Margin	-392.83%	-505.06%	-123.63%	-75.05%	-99.18%
Pre Tax Income Margin	-580.30%	-739.64%	-115.63%	-127.26%	-186.98%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-66.41	-74.54	-11.59	-39.73	-423.07
NOPAT to Interest Expense	-45.21	-51.54	-13.89	-28.95	-216.95
EBIT Less CapEx to Interest Expense	-80.17	-84.71	-12.06	-39.64	-425.73
NOPAT Less CapEx to Interest Expense	-58.96	-61.71	-14.36	-28.87	-219.60
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

No quarterly metrics and ratios for U Power are available.

Financials Breakdown Chart

U Power Financials - Frequently Asked Questions

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

U Power's net income appears to be on a downward trend, with a most recent value of -$11.51 million in 2025, falling from -$14.20 million in 2021. The previous period was -$7.72 million in 2024. Check out U Power's forecast to explore projected trends and price targets.

U Power's total operating income in 2025 was -$8.33 million, based on the following breakdown:

Total Gross Profit: $2.13 million
Total Operating Expenses: $8.66 million

Over the last 4 years, U Power's total revenue changed from $1.26 million in 2021 to $5.88 million in 2025, a change of 367.9%.

U Power's total liabilities were at $12.04 million at the end of 2025, a 35.8% increase from 2024, and a 12.4% increase since 2022.

In the past 3 years, U Power's cash and equivalents has ranged from $271.41 thousand in 2023 to $3.21 million in 2024, and is currently $3.14 million as of their latest financial filing in 2025.

Over the last 4 years, U Power's book value per share changed from 0.00 in 2021 to 8.49 in 2025, a change of 848.5%.

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Financial statements for NASDAQ:UCAR last updated on 9/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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U Power (UCAR) Financials

Financials Breakdown Chart

U Power Financials - Frequently Asked Questions

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U Power (UCAR) Financials

Annual Income Statements for U Power

Quarterly Income Statements for U Power

Annual Cash Flow Statements for U Power

Quarterly Cash Flow Statements for U Power

Annual Balance Sheets for U Power

Quarterly Balance Sheets for U Power

Annual Metrics And Ratios for U Power

Quarterly Metrics And Ratios for U Power

Financials Breakdown Chart

U Power Financials - Frequently Asked Questions

When does U Power's financial year end?

How has U Power's net income changed over the last 4 years?

What is U Power's operating income?

How has U Power's revenue changed over the last 4 years?

How much debt does U Power have?

How much cash does U Power have?

How has U Power's book value per share changed over the last 4 years?

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