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NAAS logoNaaS Technology Inc.(NAAS)Earnings, Financials & Key Ratios

NAAS•NASDAQ
$2.27
$2M mkt cap·Price updated May 7, 2026
SectorConsumer CyclicalIndustrySpecialty RetailSub-IndustryRetail Services and Enablement Platforms
AboutNaaS Technology Inc. provides electric vehicle (EV) charging services in China. It serves charging station operators, charger manufacturers, EV OEMs, and other end-users. The company was founded in 2019 and is based in Beijing, China.Show more
  • Revenue$201M-37.2%
  • EBITDA-$791M+25.2%
  • Net Income-$913M+30.1%
  • EPS (Diluted)-1120.00+39.7%
  • Gross Margin44.06%+58.9%
  • EBITDA Margin-393.66%-19.2%
  • Operating Margin-401.55%-20.5%
  • Net Margin-454.52%-11.3%
  • ROIC-161.17%-1.4%
  • Interest Coverage-21.23+38.0%
Technical→

NAAS Key Insights

NaaS Technology Inc. (NAAS) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 15 (bottom 15%)
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Sales declining 33.4% over 5 years
  • ✗Shares diluted 16.4% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

NAAS Price & Volume

NaaS Technology Inc. (NAAS) stock price & volume — 10-year historical chart

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NAAS Growth Metrics

NaaS Technology Inc. (NAAS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-33.36%
3 Years81.79%
TTM11.91%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM30.1%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM38.32%

Return on Capital

10 Years-142.67%
5 Years-289.99%
3 Years-270.86%
Last Year-161.17%

NAAS Peer Comparison

NaaS Technology Inc. (NAAS) competitors in Retail Services and Enablement Platforms — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
BLNK logoBLNKBlink Charging Co.Direct Competitor90.75M0.79-0.40-11.16%-118.72%-131.92%0.09
EVGO logoEVGOEVgo, Inc.Direct Competitor595.8M1.90-6.1349.55%-11.15%-12.2%0.28
CHPT logoCHPTChargePoint Holdings, Inc.Direct Competitor133.51M6.16-0.65-1.4%-53.55%-353.75%12.75
AMPY logoAMPYAmplify Energy Corp.Direct Competitor221.11M5.435.27-10.63%16.7%10.56%0.01
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Product Competitor242.54M5.994.9136.55%-3.39%1.33
NXRT logoNXRTNexPoint Residential Trust, Inc.Product Competitor756.27M29.80-23.65-3.24%-12.67%-10.13%5.18
BEAM logoBEAMBeam Therapeutics Inc.Product Competitor3.23B31.47-38.85120.01%-49.17%-5.89%0.24
WPRT logoWPRTWestport Fuel Systems Inc.Product Competitor33.34M1.92-1.51-8.89%-37.88%-52.33%0.39

Compare NAAS vs Peers

NaaS Technology Inc. (NAAS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BLNK

Most directly comparable listed peer for NAAS.

Scale Benchmark

vs TSLA

Larger-name benchmark to compare NAAS against a more recognizable public peer.

Peer Set

Compare Top 5

vs BLNK, EVGO, CHPT, AMPY

NAAS Income Statement

NaaS Technology Inc. (NAAS) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24
Sales/Revenue710.99M969.27M1.27B1.53B6.16M33.45M92.81M320.08M200.98M
Revenue Growth %34.28%36.33%31.22%20.25%-99.6%442.8%177.45%244.86%-37.21%
Cost of Goods Sold363.58M452.22M576.53M694.69M6.55M29.59M86.65M231.32M112.43M
COGS % of Revenue51.14%46.66%45.33%45.42%106.23%88.44%93.36%72.27%55.94%
Gross Profit
347.41M▲ 0%
517.05M▲ 48.8%
695.36M▲ 34.5%
834.75M▲ 20.0%
-384K▼ 100.0%
3.87M▲ 1106.8%
6.17M▲ 59.5%
88.76M▲ 1339.3%
88.54M▼ 0.2%
Gross Margin %48.86%53.34%54.67%54.58%-6.23%11.56%6.64%27.73%44.06%
Gross Profit Growth %90.05%48.83%34.48%20.05%-100.05%1106.77%59.52%1339.26%-0.24%
Operating Expenses276.57M517.68M487.75M15.28M75.74M257.91M2.47B1.16B895.57M
OpEx % of Revenue38.9%53.41%38.35%1%1228.93%770.97%2657.63%360.89%445.61%
Selling, General & Admin276.57M517.68M487.75M15.28M58.41M227.8M2.44B1.12B573.51M
SG&A % of Revenue38.9%53.41%38.35%1%947.82%680.95%2626.12%348.84%285.36%
Research & Development000020.45M37.16M36.56M63.05M42.07M
R&D % of Revenue----331.79%111.08%39.39%19.7%20.93%
Other Operating Expenses0000-3.12M-7.04M-7.32M-24.47M279.99M
Operating Income
70.85M▲ 0%
-628K▼ 100.9%
207.61M▲ 33159.2%
-15.28M▼ 107.4%
-76.12M▼ 398.4%
-254.05M▼ 233.7%
-2.46B▼ 868.5%
-1.07B▲ 56.7%
-807.03M▲ 24.3%
Operating Margin %9.96%-0.06%16.32%-1%-1235.16%-759.41%-2650.98%-333.16%-401.55%
Operating Income Growth %243.14%-100.89%33159.24%-107.36%-398.35%-233.73%-868.52%56.66%24.32%
EBITDA140.67M49.08M265.84M54.75M-72.59M-247.47M-2.46B-1.06B-791.16M
EBITDA Margin %19.78%5.06%20.9%3.58%-1177.77%-739.77%-2650.58%-330.39%-393.66%
EBITDA Growth %234.81%-65.11%441.61%-79.41%-232.59%-240.94%-894.09%57.01%25.19%
D&A (Non-Cash Add-back)69.82M49.71M58.23M70.02M3.54M6.57M377K8.87M15.87M
EBIT89.12M25.91M248M188.78M-76.12M-254.05M-547.79M-1.06B-889.17M
Net Interest Income10.55M-7.03M-7.43M34.17M-300K-1.1M-10.28M-31.16M-38.01M
Interest Income16.62M19.56M26.38M80K00000
Interest Expense6.07M26.59M33.8M-34.09M300K1.1M10.28M31.16M38.01M
Other Income/Expense12.2M-48K6.59M-237.98M-300K-1.1M-3.17B-223.88M-120.16M
Pretax Income
83.05M▲ 0%
-676K▼ 100.8%
214.2M▲ 31786.2%
-15.2M▼ 107.1%
-76.42M▼ 402.9%
-255.14M▼ 233.9%
-5.63B▼ 2105.6%
-1.29B▲ 77.1%
-927.19M▲ 28.1%
Pretax Margin %11.68%-0.07%16.84%-0.99%-1240.03%-762.69%-6063.21%-403.1%-461.34%
Income Tax32.2M52.92M71.76M-163.38M1.47M5.32M9.86M3.79M-19.15M
Effective Tax Rate %38.78%-7828.99%33.5%1075.19%-1.93%-2.08%-0.18%-0.29%2.07%
Net Income
53.92M▲ 0%
-47.97M▼ 189.0%
142.96M▲ 398.0%
148.1M▲ 3.6%
-77.9M▼ 152.6%
-260.46M▼ 234.4%
-5.64B▼ 2064.4%
-1.31B▲ 76.8%
-913.48M▲ 30.1%
Net Margin %7.58%-4.95%11.24%9.68%-1263.95%-778.59%-6073.83%-408.31%-454.52%
Net Income Growth %305.15%-188.97%397.99%3.6%-152.6%-234.37%-2064.37%76.82%30.1%
Net Income (Continuing)53.92M-47.97M142.96M148.1M-77.9M-260.46M-5.64B-1.29B-908.04M
Discontinued Operations0000000-13.12M-6.4M
Minority Interest00000003.43M321K
EPS (Diluted)
1800.00▲ 0%
-1504.00▼ 183.6%
4096.00▲ 372.3%
4064.00▼ 0.8%
-2208.00▼ 154.3%
-384.00▲ 82.6%
-8192.00▼ 2033.3%
-1856.00▲ 77.3%
-1120.00▲ 39.7%
EPS Growth %314.29%-183.56%372.34%-0.78%-154.33%82.61%-2033.33%77.34%39.66%
EPS (Basic)1800.00-1504.004176.004128.00-2208.00-384.00-8192.00-1856.00-1088.00
Diluted Shares Outstanding31.25K31.84K36.21K36.31K35.25K669.25K686.55K706.17K822.11K
Basic Shares Outstanding31.25K31.84K35.57K35.91K35.25K669.25K686.55K706.17K822.11K
Dividend Payout Ratio---------

NAAS Balance Sheet

NaaS Technology Inc. (NAAS) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24
Total Current Assets707.74M1.14B1.4B1.08B48.36M152.78M930.79M1.14B439.5M
Cash & Short-Term Investments640M1.06B1.29B999.01M3.67M8.49M513.35M534.3M135.79M
Cash Only640M1.06B1.29B999.01M3.67M8.49M513.35M436.24M126.61M
Short-Term Investments000000098.06M9.17M
Accounts Receivable976K11.2M12.76M7.47M21.66M38.46M156.66M355.64M113.16M
Days Sales Outstanding0.54.223.661.781.28K419.59616.08405.55205.51
Inventory5.53M7.91M11.32M8.69M048.13M-130M22.46M0
Days Inventory Outstanding5.556.387.174.56-593.78-35.44-
Other Current Assets61.23M67.36M90.11M69.7M013.73M130M7.14M55.03M
Total Non-Current Assets792.56M813.89M878.5M1.72B19.25M25.31M175.15M321.13M211.15M
Property, Plant & Equipment75.67M100.18M128.41M747.66M19.24M21.1M19.63M18.4M7.41M
Fixed Asset Turnover9.40x9.68x9.90x2.05x0.32x1.59x4.73x17.39x27.14x
Goodwill461.69M475.73M491.97M665.42M328.29M0040.09M0
Intangible Assets225.95M200.62M198.06M210.35M14.51M25.31M833K13.32M2.33M
Long-Term Investments00033M-2.02B5M140.81M240.74M199.36M
Other Non-Current Assets25.16M34.97M53.35M49.64M1.68B-26.44M13.87M8.58M2.05M
Total Assets
1.5B▲ 0%
1.96B▲ 30.4%
2.28B▲ 16.6%
2.8B▲ 22.9%
67.6M▼ 97.6%
178.09M▲ 163.4%
1.11B▲ 521.0%
1.47B▲ 32.5%
650.64M▼ 55.6%
Asset Turnover0.47x0.50x0.56x0.55x0.09x0.19x0.08x0.22x0.31x
Asset Growth %12.32%30.4%16.58%22.85%-97.59%163.43%520.99%32.48%-55.59%
Total Current Liabilities763.37M1.03B1.28B1.23B1.17B136.09M192.14M817.03M1.35B
Accounts Payable585.37K01.23M7.55M11.03M16.87M49.24M152.07M104.22M
Days Payables Outstanding0.59-0.783.97614.82208.14207.42239.95338.35
Short-Term Debt38.19M29.73M82.51M291.93M226.74M038M345.64M1.01B
Deferred Revenue (Current)601.32M812.82M1B716.64M563.74M25.11M33.54M101.05M32.51M
Other Current Liabilities119.79M182.1M185.14M217.4M333.25M00050.59M
Current Ratio0.93x1.11x1.10x0.88x0.04x1.12x4.84x1.40x0.33x
Quick Ratio0.92x1.10x1.09x0.87x0.04x0.77x5.52x1.37x0.33x
Cash Conversion Cycle5.47-10.052.38-805.23-201.04-
Total Non-Current Liabilities338.5M629.91M561.07M944.14M13.9M12.57M474.92M691.67M54.37M
Long-Term Debt333.1M623.44M502.36M834.47M00465.15M681.82M51.07M
Capital Lease Obligations000013.9M12.57M9.33M6.94M3.3M
Deferred Tax Liabilities3.07M3.79M14.54M31.12M00438K2.92M0
Other Non-Current Liabilities2.33M2.68M8.13M39.16M0002.92M0
Total Liabilities1.1B1.66B1.84B2.18B1.92B148.65M667.06M1.51B1.4B
Total Debt371.29M623.44M584.86M1.13B244.86M19.63M519.34M1.04B1.07B
Net Debt-268.71M-432.54M-703.22M127.38M241.2M4.08M5.98M605.31M943.51M
Debt / Equity0.91x2.01x1.28x1.85x16.82x0.67x1.18x--
Debt / EBITDA2.64x12.70x2.20x20.57x-----
Net Debt / EBITDA-1.91x-8.81x-2.65x2.33x-----
Interest Coverage11.67x-0.02x6.14x--253.74x-231.58x-239.46x-34.23x-21.23x
Total Equity
407.2M▲ 0%
310.13M▼ 23.8%
455.75M▲ 47.0%
608.9M▲ 33.6%
14.56M▼ 97.6%
29.44M▲ 102.2%
438.87M▲ 1390.8%
-43.6M▼ 109.9%
-754.13M▼ 1629.5%
Equity Growth %-46.21%-23.84%46.96%33.6%-97.61%102.22%1390.79%-109.94%-1629.47%
Book Value per Share13030.409740.3012585.4016771.22412.9543.99639.24-61.75-917.32
Total Shareholders' Equity407.2M310.13M455.75M608.9M495.11M29.44M438.87M-47.04M-754.46M
Common Stock6.12M6.78M7.07M6.95M6.96M0146.73M165.18M186.68M
Retained Earnings-134.26M-315.53M-248.67M-127.06M-138.22M-393.89M-6.03B-7.34B-8.25B
Treasury Stock00000000-6.86M
Accumulated OCI82.97M86.41M120.8M145.75M145M5.18M-35.2M-65.7M-97.19M
Minority Interest00000003.43M321K

NAAS Cash Flow Statement

NaaS Technology Inc. (NAAS) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24
Cash from Operations240.08M345.27M380.03M-39.85M-63.01M-250.03M-580.7M-565.24M-179.14M
Operating CF Margin %33.77%35.62%29.88%-2.61%-1022.46%-747.42%-625.66%-176.6%-89.13%
Operating CF Growth %46.64%43.81%10.07%-110.49%-58.11%-296.79%-132.25%2.66%68.31%
Net Income53.92M-47.97M142.96M-15.2M-82.14M-251.91M-5.63B-1.3B-932.4M
Depreciation & Amortization69.82M49.71M58.23M70.02M3.54M6.75M9.6M17.03M15.87M
Stock-Based Compensation095.31M18.63M47.89M18M10.79M2.13B399.08M160.42M
Deferred Taxes-4.76M1.15M6.74M6.47M-31.15M-10.79M-2.13B00
Other Non-Cash Items-3.06M-464K7.61M-144.08M13.39M2.16M5.33B316.74M382.35M
Working Capital Changes124.17M247.54M145.87M-4.96M15.34M-7.04M-293.74M5.28M194.63M
Change in Receivables12.1M-1.7M112K706K-647K-740K-111.33M-66.48M15.2M
Change in Inventory430K-2.37M-3.42M3.1M871K00-36.84M22.82M
Change in Payables1.13M1.97M2.38M-873K3.48M0000
Cash from Investing-42.54M-53.07M-100.88M-114.72M5.44M-5.61M-161.34M-339.61M-201.67M
Capital Expenditures-43.77M-53.08M-73.99M-50.85M-23.88M-606K-17.13M-6.33M0
CapEx % of Revenue6.16%5.48%5.82%3.32%387.41%1.81%18.46%1.98%-
Acquisitions8.32M2.74M-26.98M-16.78M-19.9M15.93M0-34.45M2.62M
Investments---------
Other Investing-8.13M-2.73M100K-14.09M53.22M-15.93M004.27M
Cash from Financing-80.21M129M-57.31M-140.73M64.56M229.54M1.25B827.74M71.27M
Debt Issued (Net)000-97.33M0-1.88M496.32M749.38M143.61M
Equity Issued (Net)000-1000K001000K1000K0
Dividends Paid000000000
Share Repurchases00-21.37M-48.05M00000
Other Financing-80.21M129M-57.31M4.65M64.56M231.43M-9.54M-30.69M-72.34M
Net Change in Cash
122.56M▲ 0%
415.98M▲ 239.4%
231.89M▼ 44.3%
-293.96M▼ 226.8%
1.54M▲ 100.5%
4.82M▲ 213.0%
504.86M▲ 10365.6%
-77.11M▼ 115.3%
-309.54M▼ 301.4%
Free Cash Flow
196.32M▲ 0%
292.19M▲ 48.8%
306.04M▲ 4.7%
-90.7M▼ 129.6%
-86.89M▲ 4.2%
-250.64M▼ 188.5%
-597.83M▼ 138.5%
-571.57M▲ 4.4%
-179.14M▲ 68.7%
FCF Margin %27.61%30.15%24.06%-5.93%-1409.87%-749.23%-644.11%-178.57%-89.13%
FCF Growth %63.15%48.84%4.74%-129.64%4.2%-188.46%-138.52%4.39%68.66%
FCF per Share6282.119176.798451.22-2498.29-2464.68-374.51-870.76-809.39-217.90
FCF Conversion (FCF/Net Income)4.45x-7.20x2.66x-0.27x0.81x0.96x0.10x0.43x0.20x
Interest Paid000000000
Taxes Paid000000000

NAAS Key Ratios

NaaS Technology Inc. (NAAS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-3.47%9.26%-13.38%37.33%27.82%-24.99%-1184%-2407.52%-661.28%-
Return on Invested Capital (ROIC)-15.49%28.11%-5.86%--4.69%-11.51%-128.59%-760.28%-158.91%-161.17%
Gross Margin34.52%48.86%53.34%54.67%54.58%-6.23%11.56%6.64%27.73%44.06%
Net Margin-4.96%7.58%-4.95%11.24%9.68%-1263.95%-778.59%-6073.83%-408.31%-454.52%
Debt / Equity-0.91x2.01x1.28x1.85x16.82x0.67x1.18x--
Interest Coverage-11.67x-0.02x6.14x--253.74x-231.58x-239.46x-34.23x-21.23x
FCF Conversion-6.23x4.45x-7.20x2.66x-0.27x0.81x0.96x0.10x0.43x0.20x
Revenue Growth-34.28%36.33%31.22%20.25%-99.6%442.8%177.45%244.86%-37.21%

NAAS Frequently Asked Questions

NaaS Technology Inc. (NAAS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

NaaS Technology Inc. (NAAS) reported $277.6M in revenue for fiscal year 2024. This represents a 48% decrease from $529.5M in 2015.

NaaS Technology Inc. (NAAS) saw revenue decline by 37.2% over the past year.

NaaS Technology Inc. (NAAS) reported a net loss of $913.5M for fiscal year 2024.

Dividend & Returns

NaaS Technology Inc. (NAAS) had negative free cash flow of $179.1M in fiscal year 2024, likely due to heavy capital investments.

Explore More NAAS

NaaS Technology Inc. (NAAS) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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