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Shengfeng Development Limited (SFWL) 10-Year Financial Performance & Capital Metrics

SFWL • • Industrial / General
IndustrialsFreight & LogisticsWarehousing & Distribution ServicesIntegrated Supply Chain Solutions
AboutShengfeng Development Limited, through its subsidiaries, provides contract logistics services in the People's Republic of China. The company offers business-to-business freight transportation services, such as full truckload and less than truckload; cloud storage services, including warehouse management, order fulfillment, delivery process management, in-warehouse processing, and inventory optimization management services; and value-added services comprising collection on delivery, delivery upstairs, packaging, pay-at-arrival, return proof of delivery, and shipment protection. It serves clients in various industries, including manufacturing, energy, telecommunications, internet, fashion, fast moving consumer goods, publishing, agriculture, and e-commerce. Shengfeng Development Limited was founded in 2001 and is based in Fuzhou, the People's Republic of China.Show more
  • Revenue $504M +24.8%
  • EBITDA $28M -5.3%
  • Net Income $11M +5.7%
  • EPS (Diluted) 0.13
  • Gross Margin 9.18% -20.2%
  • EBITDA Margin 5.47% -24.1%
  • Operating Margin 2.91% -15.5%
  • Net Margin 2.16% -15.3%
  • ROE 9.23% -7.0%
  • ROIC 6.93% -1.0%
  • Debt/Equity 0.66 +19.7%
  • Interest Coverage 7.44 -5.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 41.6%
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 16.7%
  • ✓Trading at only 0.6x book value
  • ✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

  • ✗Negative free cash flow

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

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y16.73%
3Y13.29%
TTM33.76%

Profit (Net Income) CAGR

10Y-
5Y41.61%
3Y16.4%
TTM7.15%

EPS CAGR

10Y-
5Y41.15%
3Y15.81%
TTM4.87%

ROCE

10Y Avg7.91%
5Y Avg8.92%
3Y Avg10.14%
Latest10.59%

Peer Comparison

Integrated Supply Chain Solutions
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SFWLShengfeng Development Limited39.2M0.977.4224.75%2.09%15.82%0.66

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+232.61M287.46M346.7M370.32M404.12M504.16M
Revenue Growth %-0.24%0.21%0.07%0.09%0.25%
Cost of Goods Sold+203.78M251.49M305.35M328.79M357.62M457.87M
COGS % of Revenue0.88%0.87%0.88%0.89%0.88%0.91%
Gross Profit+28.83M35.98M41.34M41.53M46.51M46.28M
Gross Margin %0.12%0.13%0.12%0.11%0.12%0.09%
Gross Profit Growth %-0.25%0.15%0%0.12%-0%
Operating Expenses+26.29M29.77M32.76M31.69M32.6M31.62M
OpEx % of Revenue0.11%0.1%0.09%0.09%0.08%0.06%
Selling, General & Admin26.29M29.77M32.76M31.69M32.6M31.62M
SG&A % of Revenue0.11%0.1%0.09%0.09%0.08%0.06%
Research & Development000000
R&D % of Revenue------
Other Operating Expenses000000
Operating Income+2.54M6.2M8.59M9.85M13.91M14.67M
Operating Margin %0.01%0.02%0.02%0.03%0.03%0.03%
Operating Income Growth %-1.44%0.38%0.15%0.41%0.05%
EBITDA+14.39M18.65M22.95M26.5M29.1M27.56M
EBITDA Margin %0.06%0.06%0.07%0.07%0.07%0.05%
EBITDA Growth %-0.3%0.23%0.15%0.1%-0.05%
D&A (Non-Cash Add-back)11.85M12.45M14.36M16.66M15.2M12.9M
EBIT3.51M9.6M10.48M11.65M14.4M14.46M
Net Interest Income+-1.24M-661K-985K-953K-1.65M-1.81M
Interest Income52K1.33M1.33M1.27M126K159K
Interest Expense1.29M1.99M2.31M2.23M1.77M1.97M
Other Income/Expense-321K1.41M-426K-421K-1.28M-2.17M
Pretax Income+2.22M7.61M8.16M9.43M12.63M12.49M
Pretax Margin %0.01%0.03%0.02%0.03%0.03%0.02%
Income Tax+293K1.57M1.52M1.6M2.32M1.67M
Effective Tax Rate %0.86%0.8%0.85%0.83%0.82%0.87%
Net Income+1.91M6.09M6.9M7.79M10.29M10.88M
Net Margin %0.01%0.02%0.02%0.02%0.03%0.02%
Net Income Growth %-2.19%0.13%0.13%0.32%0.06%
Net Income (Continuing)1.93M6.04M6.64M7.83M10.31M10.83M
Discontinued Operations000000
Minority Interest1.54M1.76M4.3M3.86M4.37M6.3M
EPS (Diluted)+0.020.070.080.090.130.13
EPS Growth %-2.19%0.13%0.13%0.38%0%
EPS (Basic)0.020.070.080.090.130.13
Diluted Shares Outstanding82.4M82.4M82.4M82.4M81.81M82.5M
Basic Shares Outstanding82.4M82.4M82.4M82.4M81.81M82.5M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+86.54M128.14M121.7M135.7M149.1M205.24M
Cash & Short-Term Investments18.41M27.32M18.64M21.29M26.73M34.67M
Cash Only18.41M27.32M18.64M21.29M26.73M34.67M
Short-Term Investments000000
Accounts Receivable56.24M84.2M84.85M94.04M105.28M135.34M
Days Sales Outstanding88.26106.9189.3292.6895.0897.98
Inventory51K910K275K2.08M00
Days Inventory Outstanding0.091.320.332.31--
Other Current Assets11.83M467K018.29M17.11M35.23M
Total Non-Current Assets+90.56M104.04M122.51M109.56M116.73M104.89M
Property, Plant & Equipment55.63M61.77M77.19M68.14M59.09M69.89M
Fixed Asset Turnover4.18x4.65x4.49x5.43x6.84x7.21x
Goodwill000000
Intangible Assets7.61M7.63M7.53M6.71M12.16M11.41M
Long-Term Investments16.17M2.02M2.14M2.04M1.91M1.9M
Other Non-Current Assets3.71M26.03M30.43M29.08M37.32M20.26M
Total Assets+177.1M232.18M244.21M245.26M265.84M310.13M
Asset Turnover1.31x1.24x1.42x1.51x1.52x1.63x
Asset Growth %-0.31%0.05%0%0.08%0.17%
Total Current Liabilities+87.36M129.02M125.35M130.8M136.38M162.68M
Accounts Payable34.5M51.67M54.09M57.05M60.58M88.73M
Days Payables Outstanding61.874.9964.6663.3361.8470.74
Short-Term Debt35.78M52.11M45.96M49.7M44.6M55.97M
Deferred Revenue (Current)156K00000
Other Current Liabilities14.19M9.75M9.31M7.68M19.9M0
Current Ratio0.99x0.99x0.97x1.04x1.09x1.26x
Quick Ratio0.99x0.99x0.97x1.02x1.09x1.26x
Cash Conversion Cycle26.5533.242531.67--
Total Non-Current Liabilities+17.04M18.79M22.96M19.38M17.15M24M
Long-Term Debt15.86M000016.39M
Capital Lease Obligations15.86M17.29M21.48M17.51M10.9M4.72M
Deferred Tax Liabilities00004.25M53K
Other Non-Current Liabilities-14.67M1.5M1.47M1.87M2M2.84M
Total Liabilities104.4M147.8M148.31M150.17M153.53M186.68M
Total Debt+57.78M76.84M75.57M76.84M61.81M81.3M
Net Debt39.37M49.52M56.92M55.56M35.09M46.63M
Debt / Equity0.79x0.91x0.79x0.81x0.55x0.66x
Debt / EBITDA4.02x4.12x3.29x2.90x2.12x2.95x
Net Debt / EBITDA2.74x2.66x2.48x2.10x1.21x1.69x
Interest Coverage1.97x3.12x3.71x4.42x7.83x7.44x
Total Equity+72.71M84.38M95.9M95.09M112.31M123.45M
Equity Growth %-0.16%0.14%-0.01%0.18%0.1%
Book Value per Share0.881.021.161.151.371.50
Total Shareholders' Equity71.17M82.62M91.59M91.22M107.95M117.14M
Common Stock8K8K8K8K8K8K
Retained Earnings-2.38M3.41M10.03M17.27M26.69M36.46M
Treasury Stock000000
Accumulated OCI-2.03M3.63M5.98M-1.64M-2.51M-3.09M
Minority Interest1.54M1.76M4.3M3.86M4.37M6.3M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-722K2.33M16.59M6.93M14.13M15.01M
Operating CF Margin %-0%0.01%0.05%0.02%0.03%0.03%
Operating CF Growth %-4.23%6.11%-0.58%1.04%0.06%
Net Income1.91M6.04M6.64M7.83M10.29M10.83M
Depreciation & Amortization11.85M13.81M16.02M18.29M15.2M13.59M
Stock-Based Compensation000000
Deferred Taxes19K1.3M1.48M1.24M1.52M589K
Other Non-Cash Items1.51M697K769K1.19M3.57M380K
Working Capital Changes-16.01M-19.52M-8.32M-21.62M-16.45M-10.37M
Change in Receivables-7.36M-18.72M-3.15M-16.98M-11.46M-32.59M
Change in Inventory-51K-808K777K000
Change in Payables2.21M13.98M2.47M7.9M4.51M29.31M
Cash from Investing+-17.01M-7.82M-23.87M-6.71M-18.82M-32.63M
Capital Expenditures-3.78M-7.94M-25.68M-7.25M-28.71M-29.46M
CapEx % of Revenue0.02%0.03%0.07%0.02%0.07%0.06%
Acquisitions------
Investments------
Other Investing-14.97M-277K1.33M04.21M-10.57M
Cash from Financing+15.77M13.14M-2.13M6.05M11.17M29.07M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing15.77M855K2.8M265K4.89M2.07M
Net Change in Cash------
Free Cash Flow+-4.5M-5.61M-9.09M-318K3.35M-23.55M
FCF Margin %-0.02%-0.02%-0.03%-0%0.01%-0.05%
FCF Growth %--0.25%-0.62%0.96%11.55%-8.02%
FCF per Share-0.05-0.07-0.11-0.000.04-0.29
FCF Conversion (FCF/Net Income)-0.38x0.38x2.41x0.89x1.37x1.38x
Interest Paid01.99M2.16M2.23M1.77M1.92M
Taxes Paid0268K247K187K634K589K

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)2.63%7.75%7.65%8.15%9.93%9.23%
Return on Invested Capital (ROIC)1.7%3.78%4.49%4.87%7%6.93%
Gross Margin12.39%12.51%11.93%11.21%11.51%9.18%
Net Margin0.82%2.12%1.99%2.1%2.55%2.16%
Debt / Equity0.79x0.91x0.79x0.81x0.55x0.66x
Interest Coverage1.97x3.12x3.71x4.42x7.83x7.44x
FCF Conversion-0.38x0.38x2.41x0.89x1.37x1.38x
Revenue Growth-23.58%20.61%6.81%9.13%24.75%

Revenue by Segment

20232024
Other Member2.75M2.97M
Other Member Growth-8.07%

Revenue by Geography

20232024
Other Member65.64M67.68M
Other Member Growth-3.11%

Frequently Asked Questions

Valuation & Price

Shengfeng Development Limited (SFWL) has a price-to-earnings (P/E) ratio of 7.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Shengfeng Development Limited (SFWL) reported $986.7M in revenue for fiscal year 2024. This represents a 324% increase from $232.6M in 2019.

Shengfeng Development Limited (SFWL) grew revenue by 24.8% over the past year. This is strong growth.

Yes, Shengfeng Development Limited (SFWL) is profitable, generating $20.6M in net income for fiscal year 2024 (2.2% net margin).

Dividend & Returns

Shengfeng Development Limited (SFWL) has a return on equity (ROE) of 9.2%. This is below average, suggesting room for improvement.

Shengfeng Development Limited (SFWL) had negative free cash flow of $64.8M in fiscal year 2024, likely due to heavy capital investments.

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