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Monday 2 November 2026
Export KNDI’s income statement to Excel — free account
Kandi Technologies Group, Inc.
KNDI Consumer Cyclical Recreational Vehicles
Kandi Technologies Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $87.4 million, down 31.5% from fiscal 2024.
3.33
0.20
−5.67%
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Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 129 | 103 | 112 | 136 | 77 | 91 | 118 | 124 | 128 | 87 | 134 | (4.3%) | — | — | — | — | |
| Gross margin, % | 13.69 | 13.95 | 18.01 | 18.73 | 17.53 | 17.76 | 16.57 | 33.47 | 30.78 | 42.65 | 30.49 | +29.0 pt | ||||||
| EBT | (6) | (32) | 2 | (8) | (15) | 29 | (13) | 3 | (56) | (92) | (3) | +35.8% | ||||||
| EBT margin, % | (4.50) | (30.75) | 1.85 | (5.81) | (20.07) | 31.93 | (11.32) | 2.81 | (43.96) | (104.80) | (2.31) | (100.3) pt | ||||||
| Net income | (7) | (28) | (6) | (7) | (10) | 23 | (13) | 2 | (51) | (96) | (3) | +34.8% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 27.29 | 21.44 | 21.97 | 25.94 | 13.75 | 12.01 | 15.59 | 15.70 | 14.78 | 10.46 | 15.56 | (10.1%) | |||||
| Earnings | (1.40) | (5.90) | (1.10) | (1.40) | (1.90) | 3.00 | (1.70) | 0.20 | (5.90) | (11.20) | (0.70) | +26.0% | ||||||
| Cash flow | (10.44) | (0.67) | 2.65 | (5.71) | (9.09) | 0.03 | 4.17 | (12.85) | (2.06) | 11.58 | 0.00 | n/m | ||||||
| Capex | (1.32) | (0.39) | (0.22) | (0.11) | 6.15 | 0.55 | (0.51) | (1.68) | (0.11) | (0.06) | 0.00 | (29.6%) | ||||||
| Free cash flow | (11.76) | (1.06) | 2.44 | (5.82) | (2.95) | 0.58 | 3.66 | (14.53) | (2.17) | 11.52 | 0.00 | n/m | ||||||
| Book value | 48.97 | 46.51 | 44.08 | 41.63 | 72.15 | 58.20 | 52.62 | 51.64 | 40.16 | 32.30 | 0.00 | (4.5%) | ||||||
| Shares, m | 5 | 5 | 5 | 5 | 6 | 8 | 8 | 8 | 9 | 8 | 8 | +6.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.35 | 0.00 | 94.00 | 0.00 | 0.00 | 0.00 | 10.4 | |||||
| P/S | 1.76 | 3.36 | 1.65 | 1.82 | 5.02 | 2.67 | 1.49 | 1.80 | 0.77 | 0.51 | 0.21 | 2.1 | ||||||
| P/B | 0.98 | 1.55 | 0.82 | 1.14 | 0.96 | 0.55 | 0.44 | 0.55 | 0.25 | 0.17 | 0.07 | 0.7 | ||||||
| EV/Sales | 2.02 | 3.82 | 1.98 | 2.10 | 3.33 | 0.26 | (0.41) | 0.91 | (0.93) | (1.07) | (1.54) | 1.2 | ||||||
| EV/FCF | (4.82) | (77.28) | 17.85 | (9.32) | (15.52) | 21.16 | (2.20) | (0.93) | 1.03 | 1.20 | 1.72 | (6.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (50) | (3) | 14 | (30) | (51) | 0 | 31 | (101) | (18) | 97 | (101) | n/m | |||||
| Capex | (6) | (2) | (1) | (1) | 34 | 4 | (4) | (13) | (1) | 0 | (13) | (25.0%) | ||||||
| Free cash flow | (56) | (5) | 12 | (30) | (16) | 4 | 28 | (114) | (19) | 96 | (114) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 86 | 54 | 3 | 64 | 223 | 278 | 248 | 267 | 234 | 173 | 189 | +8.0% | |||||
| Net debt | 33 | 48 | 37 | 38 | (142) | (221) | (227) | (110) | (83) | (181) | (242) | n/m | ||||||
| Shareholders’ equity | 232 | 223 | 226 | 218 | 404 | 443 | 398 | 407 | 347 | 270 | 308 | +1.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (1.61) | (6.46) | (1.31) | (1.80) | (2.40) | 4.50 | (2.42) | 0.00 | (10.42) | (21.49) | 0.00 | (19.9) pt | |||||
| ROIC | (7.29) | (6.02) | (0.39) | 0.22 | 0.18 | 0.38 | (10.11) | (2.75) | (16.31) | (40.21) | 0.00 | (32.9) pt | ||||||
| ROE | (2.76) | (12.45) | (2.54) | (3.24) | (3.34) | 5.40 | (2.88) | 0.00 | (13.41) | (30.45) | 0.00 | (27.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 497 | 564 | 705 | 594 | 638 | 837 | 971 | 840 | 739 | 595 | — | +2.0% | |||||
| Revenue/emp, $m | 0.26 | 0.18 | 0.16 | 0.23 | 0.12 | 0.11 | 0.12 | 0.15 | 0.17 | 0.15 | — | (6.2%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2024 · fundamentals updated 2 Nov 2026
Kandi Technologies Group, Inc. 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 |
|---|---|---|---|---|---|---|---|---|---|
| MCFT MASTERCRAFT BOAT HOLDINGS, INC. | $520.6M | — (loss-making) | 12.7× | +63.41% (above 0%: growing) | n/m | −18.29% (below 0%: shrinking) | 22.56% | (4.86%) | 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%) | |
| 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 |
| Median of peers | $59.8M | — | 12.7× | +10.81% | — | +38.81% | 8.42% | (62.84%) |