Saturday 17 October 2026
Export CBAT’s income statement to Excel — free account
China BAK Battery, Inc.
CBAT Industrials Electrical Equipment & Parts
China BAK Battery, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $195.2 million, up 10.5% from fiscal 2024. In the quarter to March 2026, revenue grew 99.3%, EPS fell 400.0%, free cash flow grew 147.1% and total debt rose 87.6%, each against the same quarter a year earlier.
1.03
0.11
−9.65%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Jan '22 | Dec '21 | Jan '21 | Dec '20 | Jan '20 | Dec '19 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
3 | 7 | 5 | 5 | — | 5 | — | 6 | — | 3 |
P/E ratio |
0.00 | 7.23 | 0.00 | 0.00 | 2.24 | 2.19 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
0.38 | 0.48 | 0.46 | 0.35 | 2.64 | 2.59 | 8.55 | 8.35 | 2.00 | 2.02 |
Altman Z-Score |
(0.32) | 0.27 | 0.17 | 0.62 | — | 0.12 | — | 0.26 | — | (2.75) |
Altman Z″-Score (non-manufacturers) |
(2.79) | (1.09) | (1.77) | (0.62) | — | (0.35) | — | (4.48) | — | (8.64) |
P/FCF ratio |
25.79 | 3.78 | 6.26 | 33.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/Operating CF |
2.52 | 8.78 | 3.64 | (55.15) | 46.91 | 46.02 | (32.12) | (31.38) | (6.07) | (6.12) |
Beneish M-Score |
(2.33) | (2.82) | (3.98) | (0.29) | — | (0.75) | — | (1.06) | — | (5.48) |
P/B ratio |
0.68 | 0.70 | 0.83 | 0.70 | 0.99 | 0.97 | 6.13 | 5.99 | 3.25 | 3.28 |
Price to Tangible BV |
0.77 | 0.78 | 0.93 | 0.79 | 1.13 | 1.11 | 7.15 | 6.99 | 3.26 | 3.28 |
EV/Sales |
0.09 | 0.19 | 0.24 | 0.26 | 2.43 | 2.37 | 8.61 | 8.41 | 2.86 | 2.87 |
EV/EBITDA |
0.00 | 1.87 | 15.90 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
0.35 | 0.85 | 1.05 | 4.24 | (30.00) | (29.24) | (63.47) | (62.02) | (2.99) | (3.00) |
EV/FCF |
5.88 | 1.51 | 3.27 | 24.30 | (5.37) | (5.23) | (28.91) | (28.24) | (2.64) | (2.65) |
Quick Ratio |
0.38 | 0.57 | 0.55 | 0.63 | 0.67 | 0.70 | 0.77 | 0.68 | 0.77 | 0.26 |
Current Ratio |
0.60 | 0.82 | 0.80 | 1.12 | 1.12 | 1.09 | 1.09 | 0.86 | 0.86 | 0.48 |
Net Debt/EBITDA |
9.10 | (3.62) | (19.07) | 10.85 | 0.00 | 3.24 | 0.00 | 1.20 | 5.16 | (2.58) |
Debt/Assets |
0.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 9.62% | 10.50% | 27.30% |
Debt/Equity |
0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.26 | 0.29 | 1.91 |
Asset Turnover |
0.54 | 0.61 | 0.78 | 0.98 | 0.00 | 0.26 | 0.00 | 0.32 | 0.00 | 0.20 |
Operating CF/Net income |
(5.18) | 3.37 | (18.99) | (1.60) | (1.60) | (0.07) | (0.07) | 0.65 | 0.65 | 1.97 |
Capex/Depreciation |
(4.21) | (1.85) | (3.01) | (1.50) | 0.00 | (5.37) | 0.00 | (2.11) | 0.00 | (0.88) |
Interest Coverage |
(27.39) | (6.85) | 16.75 | 23.43 | (8.93) | 14.92 | (18.45) | (6.06) | (21.92) | (7.28) |
| (8.17%) | 10.10% | (2.06%) | (7.12%) | 0.00% | 63.62% | 0.00% | (23.63%) | 0.00% | (153.98%) | |
| (2.57%) | 4.04% | (0.93%) | (3.73%) | 0.00% | 30.33% | 0.00% | (6.55%) | 0.00% | (9.65%) | |
ROIC |
(30.39%) | 9.98% | (8.30%) | (8.26%) | 0.00% | (6.39%) | 0.00% | (11.65%) | 0.00% | (19.33%) |
Return on Tangible Assets |
(10.21%) | 12.07% | (2.52%) | (8.31%) | (8.22%) | 48.24% | 47.51% | (12.86%) | (11.45%) | (36.65%) |
Average Days of Receivables |
73.28 | 69.27 | 51.29 | 48.41 | 55.24 | 361.87 | 416.33 | 287.32 | 345.07 | 130.78 |
Research and Development Expense of Revenue |
8.10% | 7.37% | 5.83% | 4.28% | 4.28% | 10.01% | 10.01% | 4.47% | 4.47% | 8.59% |
Selling, General and Administrative Expense of Revenue |
10.90% | 10.84% | 9.14% | 4.72% | 5.60% | 23.41% | 21.89% | 11.84% | 13.72% | 24.48% |
Intangible Assets out of Total Assets |
0.03 | 0.04 | 0.04 | 0.06 | 0.01 | 0.07 | 0.01 | 0.05 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.04% | 0.21% | 0.60% | 0.03% | 0.00% | 1.99% | 0.00% | 2.14% | 0.00% | 3.47% |
Graham Net Nets |
(1.81) | (0.48) | (0.42) | 0.07 | 0.01 | 0.01 | (0.08) | (0.09) | (1.20) | (1.19) |
Graham Number |
0.00 | 1.98 | 0.00 | 0.00 | 3.65 | 5.07 | 2.64 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(11.90%) | 13.83% | (3.81%) | (11.22%) | 44.70% | 45.56% | (2.37%) | (2.42%) | (26.32%) | (26.09%) |
Free Cash Flow Yield |
3.88% | 26.44% | 15.99% | 3.03% | (17.13%) | (17.46%) | (3.49%) | (3.57%) | (54.09%) | (53.62%) |
Revenue per Share |
2.19 | 1.96 | 2.29 | 2.80 | 2.80 | 0.60 | 0.60 | 0.61 | 0.61 | 0.57 |
Operating CF per Share |
0.54 | 0.44 | 0.52 | 0.17 | 0.17 | (0.05) | (0.05) | (0.08) | (0.08) | (0.54) |
Capex per Share |
(0.50) | (0.19) | (0.35) | (0.14) | 0.00 | (0.22) | 0.00 | (0.09) | 0.00 | (0.06) |
Free Cash Flow per Share |
0.05 | 0.25 | 0.17 | 0.03 | 0.17 | (0.27) | (0.05) | (0.17) | (0.08) | (0.61) |
Cash per Share |
0.85 | 0.72 | 0.66 | 0.42 | 0.42 | 0.30 | 0.31 | 0.33 | 0.34 | 0.18 |
Shareholders Equity per Share |
1.23 | 1.34 | 1.27 | 1.40 | 1.32 | 1.61 | 1.52 | 0.85 | 0.85 | 0.35 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
1.23 | 1.34 | 1.27 | 1.40 | 1.32 | 1.61 | 1.52 | 0.85 | 0.85 | 0.35 |
Free Cash Flow |
4.05 | 22.73 | 15.37 | 3.02 | 15.11 | (23.48) | (4.27) | (10.81) | (5.10) | (23.64) |
Working Capital |
(119.21) | (30.30) | (32.07) | 13.77 | 13.77 | 10.07 | 10.07 | (10.54) | (10.54) | (30.51) |
Capital Expenditures |
(44.50) | (16.97) | (31.14) | (12.09) | (12.37) | (19.21) | (19.21) | (5.71) | (5.71) | (2.42) |
Net Current Asset Value |
(136.06) | (40.75) | (39.27) | 6.05 | 11.63 | 1.11 | 7.30 | (27.19) | (19.88) | (53.44) |
EV/EBIT |
0.00 | 3.83 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.23 | 0.10 | 0.15 | 0.05 | 0.00 | 0.36 | 0.00 | 0.15 | 0.00 | 0.11 |
Price to Operating Income |
0.00 | 9.62 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.05 | 0.07 | 0.08 | 0.08 | 0.08 | 0.03 | 0.03 | 0.04 | 0.03 | 0.05 |
Cash ROIC |
2.14% | 12.28% | 8.92% | 1.87% | 0.00% | (14.04%) | 0.00% | (12.45%) | (5.77%) | (50.43%) |
Accounts Receivable Turnover |
5.37 | 5.67 | 6.63 | 5.84 | 0.00 | 1.29 | 0.00 | 2.00 | 0.00 | 1.49 |
Accounts Payable Turnover |
1.49 | 1.61 | 2.30 | 3.47 | 0.00 | 1.01 | 0.00 | 1.61 | 0.00 | 0.64 |
Inventory Turnover |
4.81 | 4.79 | 4.17 | 5.80 | 0.00 | 2.69 | 0.00 | 5.01 | 0.00 | 2.36 |
Average Days of Payables |
316.64 | 229.34 | 174.20 | 106.81 | 107.38 | 501.74 | 504.24 | 296.93 | 303.50 | 255.02 |
Days of Inventory on Hand |
104.49 | 61.86 | 70.61 | 78.25 | 78.60 | 231.26 | 267.05 | 55.01 | 59.46 | 146.64 |
Average Receivables |
36.35 | 31.12 | 30.86 | 42.60 | 44.93 | 40.89 | 44.82 | 18.76 | 21.73 | 14.85 |
Average Payables |
119.04 | 83.58 | 74.96 | 66.43 | 66.61 | 46.86 | 47.03 | 21.71 | 22.03 | 33.78 |
Average Inventory |
36.73 | 28.13 | 41.43 | 39.79 | 39.90 | 17.69 | 20.02 | 6.96 | 7.17 | 9.14 |
Average Assets |
364.20 | 291.69 | 262.59 | 253.33 | 253.33 | 202.69 | 202.69 | 119.18 | 119.18 | 111.58 |
Average Common Equity |
114.77 | 116.76 | 118.92 | 132.63 | 129.19 | 96.65 | 92.85 | 33.03 | 33.03 | 6.99 |
Columns are period end dates · fundamentals updated 28 Sep 2026