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Monday 2 November 2026
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EZGO Technologies Ltd.
EZGO Consumer Cyclical Recreational Vehicles
EZGO Technologies Ltd.’s revenue for fiscal 2025 (year ended September 2025) was $20.5 million, up 12.4% from fiscal 2024.
0.80
0.04
+5.26%
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Analyst price targets
Free accountTen years at a glance Fiscal years to September
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Mar ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | 3 | 3 | 5 | 15 | 23 | 17 | 16 | 18 | 20 | 36 | +26.2% | — | — | — | — | |
| Gross margin, % | — | 47.74 | 47.74 | 61.22 | 10.10 | 1.63 | 1.26 | 7.16 | 9.31 | 6.52 | (0.41) | (41.2) pt | ||||||
| EBT | — | 1 | (1) | 3 | 0 | (4) | (7) | (7) | (7) | (8) | (15) | n/m | ||||||
| EBT margin, % | — | 35.21 | 0.00 | 51.08 | 2.95 | (16.21) | (39.45) | (44.70) | (36.24) | (40.82) | (42.44) | (76.0) pt | ||||||
| Net income | — | 0 | 0 | 2 | 0 | (3) | (7) | (7) | (6) | (9) | (22) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | 0.00 | 0.41 | 99,890.38 | 293,140.38 | 327,256.82 | 190,909.27 | 52,048.84 | 26,220.25 | 13,657.40 | 0.00 | n/m | |||||
| Earnings | — | — | 0.08 | 33,425.44 | 2,830.27 | (41,618.80) | (70,950.00) | (22,176.00) | (10,482.00) | (5,731.34) | (0.87) | n/m | ||||||
| Cash flow | — | — | 0.12 | (51,965.38) | 77,400.00 | (87,415.66) | (113,683.52) | (6,184.12) | (14,833.37) | (1,471.33) | 0.00 | n/m | ||||||
| Capex | — | — | (0.01) | (56,536.54) | (45,090.38) | (150,441.45) | (19,465.08) | (16,313.59) | (5,934.39) | (1,383.73) | 0.00 | +492.5% | ||||||
| Free cash flow | — | — | 0.12 | (108,501.92) | 32,309.62 | (237,857.11) | (133,148.60) | (22,497.71) | (20,767.76) | (2,855.07) | 0.00 | n/m | ||||||
| Book value | — | 0.00 | 0.85 | 237,134.62 | 252,792.31 | 454,606.42 | 368,216.04 | 217,348.63 | 87,750.25 | 33,968.47 | 0.00 | n/m | ||||||
| Shares, m | — | — | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | (70.5%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | 78.74 | 78.74 | 78.74 | 78.74 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 35.0 | |||||
| P/S | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| P/B | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.06) | (0.33) | 0.06 | 0.21 | 0.18 | 0.0 | ||||||
| EV/FCF | — | 3.04 | 3.04 | 3.04 | 3.04 | 0.56 | 0.08 | 0.31 | (0.04) | (0.23) | (0.26) | 1.4 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | 1 | (3) | 4 | (6) | (10) | (2) | (10) | (2) | (18) | n/m | |||||
| Capex | — | — | 0 | (3) | (2) | (11) | (2) | (5) | (4) | (2) | (8) | +74.5% | ||||||
| Free cash flow | — | — | 1 | (6) | 2 | (17) | (12) | (7) | (14) | (4) | (26) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | 3 | 2 | 10 | 10 | 18 | 19 | 35 | 25 | 26 | 26 | +33.3% | |||||
| Net debt | — | 0 | 0 | (4) | (2) | (8) | (2) | (14) | 2 | 8 | 7 | n/m | ||||||
| Shareholders’ equity | — | 7 | 7 | 12 | 13 | 33 | 34 | 66 | 61 | 51 | 52 | +29.1% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | 3.74 | 22.33 | 10.57 | 0.76 | (9.64) | (14.44) | (10.48) | (8.71) | (11.26) | 0.00 | (15.0) pt | |||||
| ROIC | — | 10.05 | (8,567.10) | 16.10 | 0.41 | (9.86) | (12.93) | (5.66) | (2.31) | (3.59) | 0.00 | (13.6) pt | ||||||
| ROE | — | (529.44) | 0.00 | 18.34 | 1.16 | (13.04) | (19.56) | (13.56) | (11.43) | (15.53) | 0.00 | +513.9 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 83 | 62 | 115 | 72 | 81 | 70 | 60 | — | (5.3%) | |||||
| Revenue/emp, $m | — | 0.00 | 0.00 | 0.06 | 0.25 | 0.20 | 0.24 | 0.20 | 0.26 | 0.34 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Sep 2025 · latest quarter Jan 0001 · fundamentals updated 26 Oct 2026
EZGO Technologies Ltd. vs peers in Recreational Vehicles (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MBUU Malibu Boats, Inc. | $468.5M | 340× | 13.3× | +42.74% (above 0%: growing) | +54.17% (above 0%: growing) | +19.34% (above 0%: growing) | 17.66% | 3.16% | Compare |
| LVWR LiveWire Group, Inc. | $135.6M | — (loss-making) | — | +55.20% (above 0%: growing) | n/m | +12.57% (above 0%: growing) | (0.50%) | (197.63%) | Compare |
| EMPD Empery Digital Inc. | $79.9M | — (loss-making) | — (loss-making) | −57.94% (below 0%: shrinking) | n/m | +58.28% (above 0%: growing) | (85.25%) | (52,585.50%) | Compare |
| MAMO Massimo Group | $39.7M | 9.5× | — | −21.13% (below 0%: shrinking) | +1,478.95% (above 0%: growing) | +164.77% (above 0%: growing) | 48.81% | 11.14% | Compare |
| KNDI Kandi Technologies Group, Inc. | $35.6M | — (loss-making) | — (loss-making) | −16.71% (below 0%: shrinking) | n/m | −880.32% (below 0%: shrinking) | 31.30% | (22.47%) | Compare |
| VEEE Twin Vee PowerCats, Co. | $5.4M | — (loss-making) | 4.1× | −34.22% (below 0%: shrinking) | n/m | −19.52% (below 0%: shrinking) | (5.84%) | (96.58%) | Compare |
| VMAR Vision Marine Technologies Inc. | $4.1M | — (loss-making) | — (loss-making) | +8,619.13% (above 0%: growing) | n/m | +183.36% (above 0%: growing) | 17.35% | (29.11%) | Compare |
| FUVV Arcimoto, Inc. | $3.6M | — (loss-making) | — (loss-making) | −45.15% (below 0%: shrinking) | n/m | +69.65% (above 0%: growing) | (166.81%) | (686.82%) | Compare |
| EZGO EZGO Technologies Ltd. | $1.8M | — (loss-making) | — (loss-making) | −46.26% (below 0%: shrinking) | −300.00% (below 0%: shrinking) | +46.84% (above 0%: growing) | 3.53% | 0.00% | |
| Median of peers | $37.7M | — | — | −18.92% | — | +38.81% | 8.42% | (62.84%) |