BingEx Limited (FLX) 10-Year Financial Performance & Capital Metrics

FLX • • Industrial / General

IndustrialsFreight & LogisticsIntegrated Express & Parcel DeliveryRegional & Niche Express Services

AboutBingEx Limited, through its subsidiaries, engages in the provision of on-demand dedicated courier services under the FlashEx brand name in the People's Republic of China. The company offers Flash-Riders as service who provides the courier services. It serves individual and business customers, including local retailers, restaurants, and logistics players through its mobile platform and website. The company was founded in 2013 and is headquartered in Beijing, the People's Republic of China.Show more

Revenue $4.47B -1.3%
EBITDA -$23M -246.8%
Net Income -$146M -232.6%
EPS (Diluted) -7.53 -402.0%
Gross Margin 10.98% +26.0%
EBITDA Margin -0.51% -248.8%
Operating Margin -0.58% -345.4%
Net Margin -3.28% -234.4%
ROE -19.61%
ROIC -9.8%
Debt/Equity 0.06
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 21.5%
✓Trading at only 0.1x book value
✓Efficient asset utilization: 3.6x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y21.45%

3Y13.7%

TTM-13.59%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-214.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM-737.23%

ROCE

10Y Avg-596.32%

5Y Avg-636.06%

3Y Avg-24.31%

Latest-4.59%

Peer Comparison

Regional & Niche Express Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ZTOZTO Express (Cayman) Inc.	13.09B	22.54	2.11	15.26%	18.81%	13.43%	42.22%	0.28
FLXBingEx Limited	177.88M	3.18	-0.42	-1.34%	-5.15%	-24.67%	0.59%	0.06
AIRTAir T, Inc.	54.73M	20.25	-9.08	1.75%	-2.01%	-76.72%	14.28%	23.32
PBIPitney Bowes Inc.	1.73B	10.74	-9.50	-2.52%	3.88%		9.07%

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.69B	2.01B	3.04B	4B	4.53B	4.47B
Revenue Growth %	-	0.19%	0.51%	0.32%	0.13%	-0.01%
Cost of Goods Sold+	1.71B	1.83B	2.85B	3.74B	4.13B	3.98B
COGS % of Revenue	1.01%	0.91%	0.94%	0.94%	0.91%	0.89%
Gross Profit+	-16.98M	189.22M	189.11M	259.26M	394.56M	490.56M
Gross Margin %	-0.01%	0.09%	0.06%	0.06%	0.09%	0.11%
Gross Profit Growth %	-	12.14%	-0%	0.37%	0.52%	0.24%
Operating Expenses+	424.31M	404.69M	489.62M	461.74M	383.91M	516.34M
OpEx % of Revenue	0.25%	0.2%	0.16%	0.12%	0.08%	0.12%
Selling, General & Admin	327.54M	304.48M	384.85M	343.12M	293.06M	372.48M
SG&A % of Revenue	0.19%	0.15%	0.13%	0.09%	0.06%	0.08%
Research & Development	96.77M	100.21M	104.77M	118.62M	90.85M	143.86M
R&D % of Revenue	0.06%	0.05%	0.03%	0.03%	0.02%	0.03%
Other Operating Expenses	0	0	0	0	0	0
Operating Income+	-441.3M	-215.47M	-300.51M	-202.48M	10.65M	-25.78M
Operating Margin %	-0.26%	-0.11%	-0.1%	-0.05%	0%	-0.01%
Operating Income Growth %	-	0.51%	-0.39%	0.33%	1.05%	-3.42%
EBITDA+	-438.72M	-212.22M	-296.23M	-197.02M	15.54M	-22.81M
EBITDA Margin %	-0.26%	-0.11%	-0.1%	-0.05%	0%	-0.01%
EBITDA Growth %	-	0.52%	-0.4%	0.33%	1.08%	-2.47%
D&A (Non-Cash Add-back)	2.57M	3.25M	4.28M	5.46M	4.89M	2.97M
EBIT	-441.3M	-215.47M	-300.51M	-202.48M	10.65M	-25.78M
Net Interest Income+	5.66M	3.98M	5.33M	9.56M	20.88M	21.22M
Interest Income	5.66M	3.98M	5.33M	9.56M	20.88M	21.22M
Interest Expense	0	0	0	0	0	0
Other Income/Expense	5.66M	9.77M	9.5M	22.04M	99.85M	-120.63M
Pretax Income+	-435.63M	-205.7M	-291M	-180.44M	110.5M	-146.41M
Pretax Margin %	-0.26%	-0.1%	-0.1%	-0.05%	0.02%	-0.03%
Income Tax+	0	0	0	0	0	69K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%
Net Income+	-435.63M	-205.7M	-291M	-180.44M	110.5M	-146.48M
Net Margin %	-0.26%	-0.1%	-0.1%	-0.05%	0.02%	-0.03%
Net Income Growth %	-	0.53%	-0.41%	0.38%	1.61%	-2.33%
Net Income (Continuing)	-435.63M	-205.7M	-291M	-180.44M	110.5M	-146.48M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0
EPS (Diluted)+	-6.12	-4.14	-5.94	-2.55	-1.50	-7.53
EPS Growth %	-	0.32%	-0.43%	0.57%	0.41%	-4.02%
EPS (Basic)	-6.12	-4.14	-5.94	-2.55	-1.50	-7.53
Diluted Shares Outstanding	71.02M	71.02M	71.02M	71.02M	23.67M	23.71M
Basic Shares Outstanding	71.02M	71.02M	71.02M	71.02M	23.89M	23.71M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	512.64M	352.83M	895.12M	873.16M	920.32M	858.45M
Cash & Short-Term Investments	458.16M	295.38M	832.24M	806.34M	850.09M	746.27M
Cash Only	458.16M	295.38M	218.53M	622.14M	699.39M	592.36M
Short-Term Investments	0	0	613.71M	184.2M	150.7M	153.91M
Accounts Receivable	16.35M	15.98M	22.62M	40.31M	44.65M	44.17M
Days Sales Outstanding	3.53	2.9	2.72	3.68	3.6	3.61
Inventory	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-
Other Current Assets	6.65M	5.88M	12.11M	15.64M	15.51M	59.87M
Total Non-Current Assets+	6.53M	12.69M	12.54M	49.5M	80.35M	376.97M
Property, Plant & Equipment	5.03M	8.15M	9.38M	48.94M	65.4M	48.26M
Fixed Asset Turnover	335.92x	247.03x	324.18x	81.78x	69.25x	92.58x
Goodwill	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	324.11M
Other Non-Current Assets	1.49M	4.54M	3.16M	562K	14.95M	4.6M
Total Assets+	519.16M	365.53M	907.66M	922.67M	1B	1.24B
Asset Turnover	3.26x	5.51x	3.35x	4.34x	4.53x	3.62x
Asset Growth %	-	-0.3%	1.48%	0.02%	0.08%	0.23%
Total Current Liabilities+	408.19M	461.44M	566.17M	702.44M	653.45M	458.96M
Accounts Payable	154.61M	193.89M	271.07M	356.14M	339.83M	223.39M
Days Payables Outstanding	33.05	38.77	34.71	34.72	30	20.5
Short-Term Debt	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	0	0
Current Ratio	1.26x	0.76x	1.58x	1.24x	1.41x	1.87x
Quick Ratio	1.26x	0.76x	1.58x	1.24x	1.41x	1.87x
Cash Conversion Cycle	-	-	-	-	-	-
Total Non-Current Liabilities+	1.39B	1.38B	2.22B	2.58B	2.78B	29.39M
Long-Term Debt	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	28.41M	45.36M	29.39M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	1.39B	1.38B	2.22B	2.55B	2.73B	0
Total Liabilities	1.8B	1.85B	2.78B	3.28B	3.43B	488.36M
Total Debt+	0	0	0	39.81M	57.71M	42.49M
Net Debt	-458.16M	-295.38M	-218.53M	-582.34M	-641.68M	-549.87M
Debt / Equity	-	-	-	-	-	0.06x
Debt / EBITDA	-	-	-	-	3.71x	-
Net Debt / EBITDA	-	-	-	-	-41.30x	-
Interest Coverage	-	-	-	-	-	-
Total Equity+	-1.28B	-1.48B	-1.87B	-2.35B	-2.43B	747.06M
Equity Growth %	-	-0.16%	-0.27%	-0.26%	-0.03%	1.31%
Book Value per Share	-18.01	-20.84	-26.39	-33.16	-102.72	31.51
Total Shareholders' Equity	-1.28B	-1.48B	-1.87B	-2.35B	-2.43B	747.06M
Common Stock	44K	44K	44K	44K	44K	138K
Retained Earnings	-1.23B	-1.53B	-1.95B	-2.27B	-2.31B	-2.57B
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-45.58M	47.98M	75.24M	-85.12M	-126.09M	-92.14M
Minority Interest	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-311.47M	-155.48M	-194.91M	-86.82M	45.71M	2.19M
Operating CF Margin %	-0.18%	-0.08%	-0.06%	-0.02%	0.01%	0%
Operating CF Growth %	-	0.5%	-0.25%	0.55%	1.53%	-0.95%
Net Income	-435.63M	-205.7M	-291M	-180.44M	110.5M	-146.48M
Depreciation & Amortization	2.57M	3.25M	4.28M	5.46M	4.89M	2.97M
Stock-Based Compensation	0	0	0	0	0	160.03M
Deferred Taxes	0	0	0	0	0	0
Other Non-Cash Items	8K	4K	-46K	-10.25M	7.72M	196.74M
Working Capital Changes	121.58M	46.97M	91.86M	98.41M	-77.4M	-211.06M
Change in Receivables	0	0	-124K	-12.65M	660K	-4.78M
Change in Inventory	0	0	0	0	0	0
Change in Payables	5.66M	39.28M	77.17M	85.07M	-16.3M	-116.44M
Cash from Investing+	-2.21M	-6.38M	-624.88M	461.38M	26.05M	-498.04M
Capital Expenditures	-2.21M	-6.48M	-5.23M	-3.42M	-3.08M	-1.14M
CapEx % of Revenue	0%	0%	0%	0%	0%	0%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	102K	126K	181K	176K	65K
Cash from Financing+	0	0	743.38M	0	-359K	433.51M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	0	0	-4.42M	0	-359K	-14.46M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-313.69M	-161.96M	-200.14M	-90.24M	42.62M	1.05M
FCF Margin %	-0.19%	-0.08%	-0.07%	-0.02%	0.01%	0%
FCF Growth %	-	0.48%	-0.24%	0.55%	1.47%	-0.98%
FCF per Share	-4.42	-2.28	-2.82	-1.27	1.80	0.04
FCF Conversion (FCF/Net Income)	0.71x	0.76x	0.67x	0.48x	0.41x	-0.01x
Interest Paid	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	69K

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-	-	-19.61%
Return on Invested Capital (ROIC)	-	-	-	-	-	-9.8%
Gross Margin	-1%	9.39%	6.22%	6.48%	8.71%	10.98%
Net Margin	-25.77%	-10.21%	-9.57%	-4.51%	2.44%	-3.28%
Debt / Equity	-	-	-	-	-	0.06x
FCF Conversion	0.71x	0.76x	0.67x	0.48x	0.41x	-0.01x
Revenue Growth	-	19.15%	50.9%	31.68%	13.14%	-1.34%

Frequently Asked Questions

Growth & Financials

BingEx Limited (FLX) reported $4.02B in revenue for fiscal year 2024. This represents a 138% increase from $1.69B in 2019.

BingEx Limited (FLX) saw revenue decline by 1.3% over the past year.

BingEx Limited (FLX) reported a net loss of $207.0M for fiscal year 2024.

Dividend & Returns

BingEx Limited (FLX) has a return on equity (ROE) of -19.6%. Negative ROE indicates the company is unprofitable.

BingEx Limited (FLX) generated $1.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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