U Power Limited(UCAR)Earnings, Financials & Key Ratios
UCAR•NASDAQ
$1.61
$71160 mkt cap·Price updated May 6, 2026
AboutU Power Limited develops, manufactures, and sells new energy vehicles and battery swapping stations in the People's Republic of China. It also offers battery swapping and sourcing services. The company was founded in 2013 and is based in Shanghai, the People's Republic of China.Show more
- Revenue$44M+124.1%
- EBITDA-$49M-73.2%
- Net Income-$48M-147.8%
- EPS (Diluted)-1679.00-7.9%
- Gross Margin23.62%-61.6%
- EBITDA Margin-111.72%+22.7%
- Operating Margin-130.93%+29.9%
- Net Margin-108.2%-10.6%
- ROE-14.4%-104.6%
- ROIC-12.12%-36.6%
- Debt/Equity0.10-23.0%
- Interest Coverage-39.20-247.3%
UCAR Key Insights
U Power Limited (UCAR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading at only 0.0x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 2/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 1 (bottom 1%)
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
UCAR Price & Volume
U Power Limited (UCAR) stock price & volume — 10-year historical chart
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UCAR Growth Metrics
U Power Limited (UCAR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years76.83%
TTM477.56%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-21.89%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM67.17%
Return on Capital
10 Years-14.65%
5 Years-14.65%
3 Years-17.43%
Last Year-16.98%
UCAR Peer Comparison
U Power Limited (UCAR) competitors in Specialty Vehicle Dealers and Finance — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 BTBT | 621.7M | 1.93 | 9.65 | 264.59% | 21.41% | 0.03 | ||
 EZGO | 1.37K | 0.15 | -0.00 | 12.42% | -41.28% | -31.35% | 0.22 | |
 KNDI | 61.06M | 0.71 | -0.63 | -31.46% | -49.1% | -13.92% | 0.17 | |
 BLNK | 98.22M | 0.86 | -0.44 | -11.16% | -118.72% | -131.92% | 0.09 | |
 EVGO | 606.78M | 1.94 | -6.24 | 49.55% | -12.14% | -13.29% | 0.28 | |
 CHPT | 137.85M | 6.36 | -0.68 | -1.4% | -53.55% | -353.75% | 12.75 | |
 NIO | 12.36B | 5.91 | -3.65 | 18.18% | -35.01% | -270.66% | 2.50 | |
 XPEV | 5.55B | 15.93 | -17.74 | 33.22% | -7.1% | -13.77% | 0.51 |
Compare UCAR vs Peers
U Power Limited (UCAR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
UCAR Income Statement
U Power Limited (UCAR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 1.46M | 8.01M | 7.8M | 19.76M | 44.29M | 79.6M |
| Revenue Growth % | - | 447.13% | -2.67% | 153.51% | 124.09% | 477.56% |
| Cost of Goods Sold | 0 | 5.14M | 5.14M | 7.59M | 33.83M | 59.73M |
| COGS % of Revenue | - | 64.13% | 65.89% | 38.41% | 76.38% | - |
| Gross Profit | 1.46M▲ 0% | 2.87M▲ 96.2% | 2.66M▼ 7.4% | 12.17M▲ 357.8% | 10.46M▼ 14.0% | 19.87M▲ 0% |
| Gross Margin % | 100% | 35.87% | 34.11% | 61.59% | 23.62% | 24.97% |
| Gross Profit Growth % | - | 96.24% | -7.45% | 357.77% | -14.04% | - |
| Operating Expenses | 17.48M | 47.82M | 58.91M | 49.08M | 68.45M | 109.58M |
| OpEx % of Revenue | 1193.72% | 597.05% | 755.62% | 248.31% | 154.55% | - |
| Selling, General & Admin | 17.08M | 42.45M | 39.76M | 43.7M | 49.7M | 92.43M |
| SG&A % of Revenue | 1166.39% | 529.96% | 509.94% | 221.1% | 112.21% | - |
| Research & Development | 111K | 5.37M | 9.35M | 2.18M | 2.98M | 6.64M |
| R&D % of Revenue | 7.58% | 67.09% | 119.96% | 11.05% | 6.74% | - |
| Other Operating Expenses | 9.58M | 0 | -698K | 3.19M | 15.77M | 1000K |
| Operating Income | -16.01M▲ 0% | -44.95M▼ 180.7% | -56.25M▼ 25.1% | -36.9M▲ 34.4% | -57.99M▼ 57.1% | -89.71M▲ 0% |
| Operating Margin % | -1093.72% | -561.19% | -721.51% | -186.72% | -130.93% | -112.69% |
| Operating Income Growth % | - | -180.73% | -25.13% | 34.39% | -57.14% | - |
| EBITDA | -14.61M | -39.73M | -48.55M | -28.58M | -49.48M | -78.11M |
| EBITDA Margin % | -997.68% | -496% | -622.69% | -144.59% | -111.72% | -98.12% |
| EBITDA Growth % | - | -172.01% | -22.19% | 41.13% | -73.15% | 8.75% |
| D&A (Non-Cash Add-back) | 1.41M | 5.22M | 7.7M | 8.33M | 8.51M | 11.6M |
| EBIT | -6M | -45.79M | -56.9M | -20.99M | -54.96M | -44.27M |
| Net Interest Income | -96K | -259K | -715K | -1.3M | -660K | -257.52K |
| Interest Income | 436K | 437K | 49K | 562K | 742K | 736.76K |
| Interest Expense | 532K | 696K | 764K | 1.86M | 1.4M | 2.22M |
| Other Income/Expense | 9.48M | -1.53M | -1.41M | 14.05M | 1.63M | -10.58M |
| Pretax Income | -6.53M▲ 0% | -46.48M▼ 611.8% | -57.66M▼ 24.1% | -22.85M▲ 60.4% | -56.36M▼ 146.6% | -100.28M▲ 0% |
| Pretax Margin % | -446.04% | -580.3% | -739.64% | -115.63% | -127.26% | -125.98% |
| Income Tax | 0 | 2.58M | 5K | 2.61M | 0 | -681.74K |
| Effective Tax Rate % | 0% | -5.55% | -0.01% | -11.43% | 0% | 0.68% |
| Net Income | -5.51M▲ 0% | -41.4M▼ 651.3% | -45.92M▼ 10.9% | -19.34M▲ 57.9% | -47.92M▼ 147.8% | -85.62M▲ 0% |
| Net Margin % | -376.37% | -516.84% | -589.03% | -97.84% | -108.2% | -107.56% |
| Net Income Growth % | - | -651.34% | -10.92% | 57.89% | -147.81% | -21.89% |
| Net Income (Continuing) | -6.53M | -49.06M | -57.67M | -25.47M | -56.36M | -63.45M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 50.88M | 45.82M | 39.08M | 37.95M | 29.51M | 24.11M |
| EPS (Diluted) | -1102.00▲ 0% | -8280.00▼ 651.4% | -9184.00▼ 10.9% | -1556.00▲ 83.1% | -1679.00▼ 7.9% | -1937.20▲ 0% |
| EPS Growth % | - | -651.36% | -10.92% | 83.06% | -7.9% | 67.17% |
| EPS (Basic) | -1102.00 | -8280.00 | -9184.00 | -1556.00 | -1679.00 | - |
| Diluted Shares Outstanding | 5K | 5K | 5K | 12.43K | 28.55K | 44.2K |
| Basic Shares Outstanding | 5K | 5K | 5K | 12.43K | 28.54K | 44.2K |
| Dividend Payout Ratio | - | - | - | - | - | - |
UCAR Balance Sheet
U Power Limited (UCAR) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 135.33M | 128.3M | 54.01M | 163.2M | 105.08M | 140.42M |
| Cash & Short-Term Investments | 121.43M | 14.79M | 4.88M | 3.75M | 23.43M | 25.81M |
| Cash Only | 121.43M | 14.79M | 4.88M | 1.93M | 23.43M | 22.7M |
| Short-Term Investments | 0 | 0 | 0 | 1.83M | 0 | 3.11M |
| Accounts Receivable | 12K | 193K | 1.74M | 43.86M | 55.06M | 18.36M |
| Days Sales Outstanding | 2.99 | 8.79 | 81.32 | 810.04 | 453.76 | 155.71 |
| Inventory | 197K | 13.45M | 5.46M | 5.44M | 9.87M | 12.98M |
| Days Inventory Outstanding | - | 955.45 | 387.74 | 261.49 | 106.52 | 52.37 |
| Other Current Assets | 12.88M | 98.97M | 40.84M | 32.52M | 1.94M | 83.27M |
| Total Non-Current Assets | 193.38M | 225.37M | 227.84M | 265.79M | 280.64M | 255.61M |
| Property, Plant & Equipment | 5.49M | 35.76M | 35.53M | 33.42M | 24.86M | 20.65M |
| Fixed Asset Turnover | 0.27x | 0.22x | 0.22x | 0.59x | 1.78x | 2.97x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 46K | 608K | 286K | 201K | 132K | 97K |
| Long-Term Investments | 120M | 110M | 111.81M | 123.37M | 134.11M | 535.42M |
| Other Non-Current Assets | 95K | 189K | 30K | 108.8M | 121.53M | 354.21M |
| Total Assets | 328.71M▲ 0% | 353.67M▲ 7.6% | 281.85M▼ 20.3% | 428.99M▲ 52.2% | 385.71M▼ 10.1% | 396.02M▲ 0% |
| Asset Turnover | 0.00x | 0.02x | 0.03x | 0.05x | 0.11x | 0.20x |
| Asset Growth % | - | 7.59% | -20.31% | 52.2% | -10.09% | 44.34% |
| Total Current Liabilities | 29.31M | 76.82M | 59.15M | 74.88M | 56.9M | 63.12M |
| Accounts Payable | 1.31M | 9.8M | 11.13M | 10.23M | 14.31M | 17.23M |
| Days Payables Outstanding | - | 696.18 | 790.82 | 491.88 | 154.38 | 91.51 |
| Short-Term Debt | 16M | 3.35M | 19.6M | 37.52M | 22.76M | 25.75M |
| Deferred Revenue (Current) | 8.81M | 53.98M | 3.56M | 0 | 1.45M | 4.32M |
| Other Current Liabilities | 9.6M | 57.14M | 13.31M | 17.53M | 2.74M | 10.61M |
| Current Ratio | 4.62x | 1.67x | 0.91x | 2.18x | 1.85x | 1.85x |
| Quick Ratio | 4.61x | 1.50x | 0.82x | 2.11x | 1.67x | 1.67x |
| Cash Conversion Cycle | - | 268.07 | -321.76 | 579.66 | 405.9 | 116.57 |
| Total Non-Current Liabilities | 9.32M | 19.16M | 17.69M | 9.49M | 7.84M | 5.93M |
| Long-Term Debt | 7M | 15.5M | 10M | 0 | 3.7M | 0 |
| Capital Lease Obligations | 2.32M | 3.67M | 4.79M | 5.98M | 4.14M | 18.1M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 2.9M | 3.51M | 0 | 6.51M |
| Total Liabilities | 38.63M | 95.99M | 76.84M | 84.37M | 64.73M | 69.05M |
| Total Debt | 26.81M | 26.83M | 36.09M | 45.25M | 32.44M | 29.67M |
| Net Debt | -94.62M | 12.04M | 31.21M | 43.32M | 9M | 6.97M |
| Debt / Equity | 0.09x | 0.10x | 0.18x | 0.13x | 0.10x | 0.10x |
| Debt / EBITDA | - | - | - | - | - | -0.38x |
| Net Debt / EBITDA | - | - | - | - | - | -0.09x |
| Interest Coverage | -11.27x | -65.78x | -74.47x | -11.29x | -39.20x | -19.96x |
| Total Equity | 290.08M▲ 0% | 257.68M▼ 11.2% | 205.01M▼ 20.4% | 344.62M▲ 68.1% | 320.98M▼ 6.9% | 326.97M▲ 0% |
| Equity Growth % | - | -11.17% | -20.44% | 68.09% | -6.86% | 70.89% |
| Book Value per Share | 58015.20 | 51536.40 | 41003.00 | 27722.63 | 11244.31 | 7397.75 |
| Total Shareholders' Equity | 239.19M | 211.86M | 165.94M | 306.67M | 291.47M | 302.87M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -66.52M | -107.92M | -153.84M | -173.18M | -221.1M | -243.1M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 446K | 0 | 0 |
| Minority Interest | 50.88M | 45.82M | 39.08M | 37.95M | 29.51M | 24.11M |
UCAR Cash Flow Statement
U Power Limited (UCAR) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | -22.39M | -82.23M | -12.89M | -65.44M | -73.17M | -73.17M |
| Operating CF Margin % | -1529.51% | -1026.58% | -165.37% | -331.12% | -165.21% | - |
| Operating CF Growth % | - | -267.22% | 84.32% | -407.62% | -11.81% | -15758.9% |
| Net Income | -6.53M | -49.06M | -57.67M | -19.34M | -56.36M | -85.62M |
| Depreciation & Amortization | 786K | 1.77M | 7.7M | 8.33M | 8.51M | 18.52M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 620K | 3.45M | 11.77M | -2.84M | 15.98M | 20.82M |
| Working Capital Changes | -17.27M | -38.39M | 25.3M | -51.59M | -41.3M | -103.58M |
| Change in Receivables | 379K | -181K | -1.42M | -14.17M | 2.3M | -19.25M |
| Change in Inventory | 209K | -13.25M | 7.81M | 107K | -4.35M | 6.11M |
| Change in Payables | 165K | 8.49M | 1.33M | -899K | 4.08M | 4.98M |
| Cash from Investing | -133.14M | -14.76M | -11.39M | -84.08M | 49.09M | -16.45M |
| Capital Expenditures | -1.33M | -11M | -7.8M | -881K | -10K | 57.99M |
| CapEx % of Revenue | 91.05% | 137.28% | 100.05% | 4.46% | 0.02% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 22.03M |
| Investments | - | - | - | - | - | - |
| Other Investing | -131.81M | -3.76M | -3.59M | -78.85M | 16.86M | -26.17M |
| Cash from Financing | 275.62M | -4M | 4.5M | 179.4M | 12.96M | 93.35M |
| Debt Issued (Net) | 20M | -5M | -500K | 18.21M | -12.91M | -298.6K |
| Equity Issued (Net) | 255.62M | 0 | 0 | 156.2M | 25.87M | 7.49M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 999K | 5M | 5M | 0 | 25.27M |
| Net Change in Cash | 120.08M▲ 0% | -100.99M▼ 184.1% | -19.78M▲ 80.4% | 30.33M▲ 253.3% | -11.56M▼ 138.1% | -84.09M▲ 0% |
| Free Cash Flow | -23.73M▲ 0% | -93.22M▼ 292.9% | -20.69M▲ 77.8% | -66.32M▼ 220.5% | -73.18M▼ 10.3% | -109.43M▲ 0% |
| FCF Margin % | -1620.56% | -1163.86% | -265.42% | -335.57% | -165.23% | -137.48% |
| FCF Growth % | - | -292.94% | 77.8% | -220.52% | -10.34% | -48.73% |
| FCF per Share | -4745.00 | -18645.00 | -4138.40 | -5335.29 | -2563.58 | -2563.58 |
| FCF Conversion (FCF/Net Income) | 4.06x | 1.99x | 0.28x | 3.38x | 1.53x | 1.28x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
UCAR Key Ratios
U Power Limited (UCAR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | -15.12% | -19.85% | -7.04% | -14.4% | -25.58% |
| Return on Invested Capital (ROIC) | -14.49% | -16.68% | -8.87% | -12.12% | -12.12% |
| Gross Margin | 35.87% | 34.11% | 61.59% | 23.62% | 24.97% |
| Net Margin | -516.84% | -589.03% | -97.84% | -108.2% | -107.56% |
| Debt / Equity | 0.10x | 0.18x | 0.13x | 0.10x | 0.10x |
| Interest Coverage | -65.78x | -74.47x | -11.29x | -39.20x | -19.96x |
| FCF Conversion | 1.99x | 0.28x | 3.38x | 1.53x | 1.28x |
| Revenue Growth | 447.13% | -2.67% | 153.51% | 124.09% | 477.56% |
UCAR Frequently Asked Questions
U Power Limited (UCAR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
U Power Limited (UCAR) reported $79.6M in revenue for fiscal year 2024. This represents a 5337% increase from $1.5M in 2020.
U Power Limited (UCAR) grew revenue by 124.1% over the past year. This is strong growth.
U Power Limited (UCAR) reported a net loss of $85.6M for fiscal year 2024.
Dividend & Returns
U Power Limited (UCAR) has a return on equity (ROE) of -14.4%. Negative ROE indicates the company is unprofitable.
U Power Limited (UCAR) had negative free cash flow of $109.4M in fiscal year 2024, likely due to heavy capital investments.
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U Power Limited (UCAR) financial analysis — history, returns, DCA and operating performance tools
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Revenue History
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