CBAT · Cbak Energy Technology, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.62M | - | $60.92M | $40.52M | $34.94M | - | $44.63M | $47.79M | $58.82M | - |
| Cost of Revenue | $68.58M | - | $56.05M | $36.06M | $30.14M | - | $37.67M | $35.07M | $40.04M | - |
| Gross Profit | $1.04M | - | $4.88M | $4.46M | $4.80M | - | $6.95M | $12.73M | $18.78M | - |
| R&D | $4.22M | - | $3.86M | $3.61M | $3.02M | - | $3.43M | $2.96M | $2.82M | - |
| SG&A | $4.51M | - | $3.87M | $3.35M | $3.80M | - | $2.78M | $3.13M | $4.09M | - |
| Total Operating Expenses | $10.74M | - | $8.91M | $7.99M | $7.67M | - | $7.78M | $6.78M | $8.52M | - |
| D&A | $3.43M | - | $2.20M | $2.04M | $2.12M | - | $1.81M | $2.33M | $2.23M | - |
| Operating Income | ($9.70M) | - | ($4.03M) | ($3.53M) | ($2.86M) | - | ($827.9K) | $5.95M | $10.26M | - |
| Interest Expense | $252.4K | - | $298.9K | $276.8K | $296.9K | - | $2.2K | - | $171.4K | - |
| Income Tax | $7.4K | - | ($183.9K) | - | - | - | $339.3K | $800.7K | $1.05M | - |
| Net Income | ($9.29M) | - | $2.65M | ($3.07M) | ($1.58M) | - | $17.6K | $6.45M | $9.84M | - |
| EPS - Basic | ($0.10) | - | $0.03 | ($0.03) | ($0.02) | - | $0.00 | $0.07 | $0.11 | - |
| EPS - Diluted | ($0.10) | - | $0.03 | ($0.03) | ($0.02) | - | $0.00 | $0.07 | $0.11 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.34M | $8.30M | $10.48M | $5.68M | $4.05M | $6.72M | $10.45M | $9.71M | $3.03M | $4.64M |
| Accounts Receivable | $46.50M | $38.41M | $47.80M | $34.66M | $40.84M | $32.94M | $34.91M | $32.71M | $36.42M | $28.65M |
| Inventory | $75.67M | $50.60M | $34.49M | $37.44M | $30.80M | $22.85M | $23.94M | $31.23M | $28.26M | $33.41M |
| Accounts Payable | $203.02M | $153.35M | $118.44M | $97.63M | $93.40M | $84.72M | $89.47M | $71.64M | $79.02M | $82.43M |
| Current Assets | $238.43M | $180.64M | $157.69M | $143.45M | $143.16M | $141.40M | $130.46M | $123.44M | $130.16M | $128.42M |
| Total Assets | $491.01M | $426.18M | $363.86M | $333.09M | $311.46M | $302.22M | $293.48M | $279.62M | $286.46M | $281.16M |
| Current Liabilities | $368.20M | $299.85M | $228.00M | $199.41M | $175.50M | $171.70M | $154.22M | $144.63M | $156.06M | $160.50M |
| Long-term Debt | $7.65M | $4.12M | $4.76M | $4.87M | $4.13M | - | - | - | - | - |
| Total Liabilities | $388.80M | $316.70M | $245.41M | $217.25M | $192.72M | $182.15M | $163.09M | $153.09M | $165.22M | $167.70M |
| Stockholders' Equity | $105.16M | $112.68M | $121.41M | $118.21M | $120.79M | $121.67M | $131.17M | $126.59M | $120.88M | $112.82M |
| Retained Earnings | ($143.08M) | ($133.80M) | ($126.42M) | ($129.07M) | ($126.00M) | ($122.61M) | ($118.10M) | ($118.11M) | ($124.56M) | ($134.40M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $22.28M | - | - | - | ($9.62M) | - | - | - | $7.45M | - |
| Investing Cash Flow | ($11.78M) | - | - | - | ($9.90M) | - | - | - | ($12.84M) | - |
| Financing Cash Flow | $11.31M | - | - | - | $5.93M | - | - | - | ($16.39M) | - |
| CapEx | $11.78M | - | - | - | $12.69M | - | - | - | $7.90M | - |
| Free Cash Flow | $10.50M | - | - | - | ($22.31M) | - | - | - | ($454.0K) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 1.5% | - | 8.0% | 11.0% | 13.7% | - | 15.6% | 26.6% | 31.9% | - |
| Operating margin | -13.9% | - | -6.6% | -8.7% | -8.2% | - | -1.9% | 12.4% | 17.4% | - |
| EBITDA margin | -9.0% | - | -3.0% | -3.7% | -2.1% | - | 2.2% | 17.3% | 21.2% | - |
| Net margin | -13.3% | - | 4.4% | -7.6% | -4.5% | - | 0.0% | 13.5% | 16.7% | - |
| Free cash flow margin | 15.1% | - | - | - | -63.9% | - | - | - | -0.8% | - |
| FCF / Net income | -1.13 | - | - | - | 14.13 | - | - | - | -0.05 | - |
| R&D / Revenue | 6.1% | - | 6.3% | 8.9% | 8.7% | - | 7.7% | 6.2% | 4.8% | - |
| SG&A / Revenue | 6.5% | - | 6.4% | 8.3% | 10.9% | - | 6.2% | 6.5% | 7.0% | - |
| Effective tax rate | - | - | -7.5% | - | - | - | 95.1% | 11.1% | 9.6% | - |
| Return on assets | -1.9% | - | 0.7% | -0.9% | -0.5% | - | 0.0% | 2.3% | 3.4% | - |
| Return on equity | -8.8% | - | 2.2% | -2.6% | -1.3% | - | 0.0% | 5.1% | 8.1% | - |
| Return on invested capital | -6.8% | - | -3.2% | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.65 | 0.60 | 0.69 | 0.72 | 0.82 | 0.82 | 0.85 | 0.85 | 0.83 | 0.80 |
| Quick ratio | 0.44 | 0.43 | 0.54 | 0.53 | 0.64 | 0.69 | 0.69 | 0.64 | 0.65 | 0.59 |
| Cash ratio | 0.03 | 0.03 | 0.05 | 0.03 | 0.02 | 0.04 | 0.07 | 0.07 | 0.02 | 0.03 |
| Leverage | ||||||||||
| Debt / Equity | 0.07 | 0.04 | 0.04 | 0.04 | 0.03 | - | - | - | - | - |
| Debt / Assets | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -38.4x | - | -13.5x | -12.8x | -9.6x | - | -369.9x | - | 59.9x | - |
| Equity multiplier | 4.67 | 3.78 | 3.00 | 2.82 | 2.58 | 2.48 | 2.24 | 2.21 | 2.37 | 2.49 |
| Liabilities / Assets | 0.79 | 0.74 | 0.67 | 0.65 | 0.62 | 0.60 | 0.56 | 0.55 | 0.58 | 0.60 |
| Efficiency | ||||||||||
| Asset turnover | 0.14 | - | 0.17 | 0.12 | 0.11 | - | 0.15 | 0.17 | 0.21 | - |
| Inventory turnover | 0.91 | - | 1.63 | 0.96 | 0.98 | - | 1.57 | 1.12 | 1.42 | - |
| Days sales outstanding | 244d | - | 286d | 312d | 427d | - | 286d | 250d | 226d | - |
| Days inventory outstanding | 403d | - | 225d | 379d | 373d | - | 232d | 325d | 258d | - |
| Days payable outstanding | 1081d | - | 771d | 988d | 1131d | - | 867d | 746d | 720d | - |
| Cash conversion cycle | -434d | - | -260d | -297d | -332d | - | -349d | -171d | -237d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 99.3% | - | 36.5% | -15.2% | -40.6% | - | -29.7% | 12.7% | 38.7% | - |
| Revenue CAGR (3y) | 18.0% | - | 1.8% | -10.4% | -24.2% | - | 67.1% | 101.0% | 84.2% | - |
| Revenue CAGR (5y) | 49.2% | - | 41.8% | 54.4% | 38.3% | - | 40.7% | 62.1% | 62.6% | - |
| Gross profit growth (YoY) | -78.3% | - | -29.9% | -64.9% | -74.4% | - | -43.2% | 227.6% | 546.3% | - |
| Operating income growth (YoY) | -238.7% | - | -387.2% | - | - | - | - | - | - | - |
| Net income growth (YoY) | -488.1% | - | 14919.6% | - | - | - | -99.7% | - | - | - |
| EPS growth (YoY) | -400.0% | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | 51.8% | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | -4814.1% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -12.9% | -7.4% | -7.4% | -6.6% | -0.1% | 7.8% | 14.5% | 16.5% | 3.5% | -4.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$390.38M totalHigh Power Lithium Batteries$105.98M · 27.1%
Manufacturing Lithium Batteries$89.21M · 22.9%
Cathode$82.48M · 21.1%
Residential Energy Supply And Uninterruptable Supplies$68.82M · 17.6%
Light Electric Vehicles$36.36M · 9.3%
Precursor$6.72M · 1.7%
Electric Vehicle$796.2K · 0.2%
Geographic
$195.19M totalCN$147.28M · 75.5%
Africa$17.04M · 8.7%
IN$16.55M · 8.5%
Europe$7.53M · 3.9%
Non Us$6.79M · 3.5%
Peer comparison
Same SIC group: Miscellaneous Electrical Machinery, Equipment & Supplies
Comparing CBAK Energy Technology against the 5 most active filers in the same SIC group.