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General information

Country: CHINA

Sector: Auto Parts

China Automotive Systems, Inc., through its subsidiaries, manufactures and sells automotive systems and components in the People`s Republic of China. The company produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic and hydraulic power steering systems and parts. It is also involved in the marketing of automotive parts in North America and Brazil, as well as the provision of after sales, and research and development support services. The company primarily sells its products to the original equipment manufacturing customers. China Automotive Systems, Inc. is headquartered in Jingzhou City, the People`s Republic of China.
Website: caasauto.com



Growth: Good revenue growth rate 23.3%, there is slowdown compared to average historical growth rates 31.8%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is positive, +10.1%. On average the margin is improving unsteadily. Gross margin is normal, +21.8%. In the last quarter the company beat the estimated EPS, +91.7%. The company was ahead of estimated EPS in 80% of quarters (showing a gain of +$0.13 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 0.0%. Free cash flow yield 8.4% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 53.9% higher than minimum and 63.2% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 3.3x by EV / Sales multiple

Key Financials (Download financials)

Ticker: CAAS
Share price, USD:  (-0.8%)3.54
year average price 3.98  


year start price 4.93 2023-04-28

max close price 5.56 2023-08-07

min close price 3.06 2024-01-09

current price 3.54 2024-04-26
Common stocks: 30 185 702

Dividend Yield:  0.0%
FCF Yield LTM: 8.4%
EV / LTM EBITDA: 500.0x
Last revenue growth (y/y):  23.3%
Last growth of EBITDA (y/y):  > 200.0%
Historical revenue growth:  31.8%
Historical growth of EBITDA:  80.2%
EV / Sales: -0.0x
Margin (EBITDA LTM / Revenue): 10.1%
Fundamental value created in LTM:
Market Cap ($m): 107
Net Debt ($m): -116
EV (Enterprise Value): -9
Price to Book: 0.3x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2023-05-12InvestorPlace

CAAS Stock Earnings: China Automotive Beats EPS, Misses Revenue

2023-05-05PRNewsWire

China Automotive Systems to Announce Unaudited 2023 First Quarter Financial Results on May 12, 2023

2023-04-11Seeking Alpha

China Automotive Systems: Invest In This Chinese Stock For Long-Term Gains
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol CAAS CAAS CAAS CAAS CAAS CAAS
reportedCurrency USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-28 2023-11-13 2023-08-11 2023-05-12 2023-03-30 2022-11-14
acceptedDate 2024-03-28 08:04:16 2023-11-13 06:16:30 2023-08-11 06:03:26 2023-05-12 06:06:05 2023-03-30 07:25:09 2022-11-14 06:14:42
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 159M 138M 137M 142M 129M 137M
costOfRevenue 125M 113M 115M 121M 104M 116M
grossProfit 35M 25M 23M 22M 25M 21M
grossProfitRatio 0.218 0.180 0.165 0.152 0.194 0.152
researchAndDevelopmentExpenses 9M 7M 7M 6M 11M 9M
generalAndAdministrativeExpenses 3M 6M 5M 5M 11M 5M
sellingAndMarketingExpenses 5M 4M 4M 3M 5M 4M
sellingGeneralAndAdministrativeExpenses 14M 10M 9M 8M 15M 9M
otherExpenses -5M 1M 3M -653 000 2M -2M
operatingExpenses 23M 15M 16M 14M 28M 16M
costAndExpenses 148M 127M 130M 134M 131M 132M
interestIncome 638 000 322 000 346 000 219 000 10M 340 000
interestExpense 251 000 245 000 276 000 249 000 294 000 384 000
depreciationAndAmortization 6M 4M 5M 7M 8M 6M
ebitda 17M 16M 15M 14M 5M 11M
ebitdaratio 0.109 0.114 0.107 0.100 0.041 0.083
operatingIncome 11M 10M 8M 8M -2M 5M
operatingIncomeRatio 0.071 0.074 0.057 0.054 -0.019 0.036
totalOtherIncomeExpensesNet 4M 1M 6M 831 000 -294 000 5M
incomeBeforeTax 15M 11M 13M 9M -3M 10M
incomeBeforeTaxRatio 0.094 0.082 0.098 0.060 -0.021 0.073
incomeTaxExpense 2M 688 000 1M 829 000 -2M 899 000
netIncome 11M 9M 10M 7M -811 000 7M
netIncomeRatio 0.068 0.069 0.076 0.048 -0.006 0.054
eps 0.360 0.310 0.350 0.230 -0.027 0.240
epsdiluted 0.360 0.310 0.350 0.230 -0.027 0.240
weightedAverageShsOut 30M 30M 30M 30M 31M 31M
weightedAverageShsOutDil 30M 30M 30M 30M 31M 31M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol CAAS CAAS CAAS CAAS CAAS CAAS
reportedCurrency USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-28 2023-11-13 2023-08-11 2023-05-12 2023-03-30 2022-11-14
acceptedDate 2024-03-28 08:04:16 2023-11-13 06:16:30 2023-08-11 06:03:26 2023-05-12 06:06:05 2023-03-30 07:25:09 2022-11-14 06:14:42
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 155M 108M 96M 99M 121M 101M
shortTermInvestments 11M 0 0 0 13M 0
cashAndShortTermInvestments 166M 108M 96M 99M 134M 101M
netReceivables 269M 242M 234M 245M 224M 209M
inventory 112M 103M 100M 105M 112M 105M
otherCurrentAssets 16M 29M 28M 35M 60 097 43M
totalCurrentAssets 564M 509M 488M 529M 521M 488M
propertyPlantEquipmentNet 111M 101M 99M 105M 115M 105M
goodwill 0 0 0 0 0 0
intangibleAssets 13M 9M 9M 10M 11M 9M
goodwillAndIntangibleAssets 13M 9M 9M 10M 11M 9M
longTermInvestments 69M 61M 62M 65M 60M 53M
taxAssets 9M 0 0 0 8M 0
otherNonCurrentAssets 0 29M 26M 19M 46 000 20M
totalNonCurrentAssets 202M 199M 197M 198M 194M 187M
otherAssets 0 0 18 000 0 0 0
totalAssets 766M 708M 685M 727M 714M 675M
accountPayables 161M 149M 137M 142M 235M 142M
shortTermDebt 141M 112M 118M 143M 46M 112M
taxPayables 2M 0 0 0 18M 0
deferredRevenue 9M 48M 46M 0 6M 0
otherCurrentLiabilities 73M 34M 33M 79M 78M 80M
totalCurrentLiabilities 384M 343M 335M 364M 364M 335M
longTermDebt 1M 0 0 0 783 000 532 000
deferredRevenueNonCurrent 51 999 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 4M 0 0 0 4M 0
otherNonCurrentLiabilities 9M 16M 16M 23M 18M -232M
totalNonCurrentLiabilities 14M 16M 16M 23M 23M 22M
otherLiabilities 1.000 0 0 0 0 0
capitalLeaseObligations 52 000 0 0 0 481 000 0
totalLiabilities 398M 359M 350M 387M 387M 357M
preferredStock 0 0 0 0 0 0
commonStock 3000.000 3000.000 3000.000 3000.000 3000.000 3000.000
retainedEarnings 285M 274M 264M 254M 247M 243M
accumulatedOtherComprehensiveIncomeLoss 4M -1M -3M 13M 8M 2M
othertotalStockholdersEquity 56M 56M 56M 56M 56M 57M
totalStockholdersEquity 344M 329M 317M 323M 312M 302M
totalEquity 368M 349M 334M 340M 312M 302M
totalLiabilitiesAndStockholdersEquity 766M 708M 685M 727M 714M 675M
minorityInterest 24M 21M 17M 17M 16M 0
totalLiabilitiesAndTotalEquity 766M 708M 685M 727M 714M 675M
totalInvestments 81M 61M 62M 65M 72 671 53M
totalDebt 143M 112M 118M 143M 47M 113M
netDebt -13M 3M 23M 44M -75M 12M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol CAAS CAAS CAAS CAAS CAAS CAAS
reportedCurrency USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-28 2023-11-13 2023-08-11 2023-05-12 2023-03-30 2022-11-14
acceptedDate 2024-03-28 08:04:16 2023-11-13 06:16:30 2023-08-11 06:03:26 2023-05-12 06:06:05 2023-03-30 07:25:09 2022-11-14 06:14:42
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome 11M 11M 11M 8M 4M 8M
depreciationAndAmortization 6M 4M 5M 5M 8M 5M
deferredIncomeTax -305 995 -1M -782 000 1M -2M -65 000
stockBasedCompensation 0 0 0 0 0 0
changeInWorkingCapital -11M -3M -14M -15M 5M 3M
accountsReceivables -27M -6M -707 599 0 0 0
inventory -8M -2M 70 000 8M -5M -781 000
accountsPayables 28M 4M -12M 1M 21M 12M
otherWorkingCapital -5M 959 413 -2M -10M -11M -8M
otherNonCashItems 22M -633 000 242 000 -339 000 1M 1M
netCashProvidedByOperatingActivities 9M 11M 1M -1M 16M 17M
investmentsInPropertyPlantAndEquipment -7M -7M -5M -3M -9M -4M
acquisitionsNet 5M 76 000 -2M -6M 13M -7M
purchasesOfInvestments -14M -15M -6M -35M -933 000 -20M
salesMaturitiesOfInvestments 15M 20M 4M 27M 19M 12M
otherInvestingActivites 3M 20 000 551 000 17 000 -13M 568 000
netCashUsedForInvestingActivites 142 614 -2M -7M -17M 10M -18M
debtRepayment -8M -8M -19M -21M -8M -9M
commonStockIssued 0 0 0 0 0 0
commonStockRepurchased 0 0 0 0 -867 000 -1M
dividendsPaid 0 0 0 0 0 0
otherFinancingActivites 12M 9M 14M 20M 8M 8M
netCashUsedProvidedByFinancingActivities 8M 237 000 -5M -399 000 -1M -2M
effectOfForexChangesOnCash 2M 85 000 -6M 2M 2M -9M
netChangeInCash 20M 10M -17M -16M 27M -12M
cashAtEndOfPeriod 155M 135M 126M 143M 159M 132M
cashAtBeginningOfPeriod 135M 126M 143M 159M 132M 144M
operatingCashFlow 9M 11M 1M -1M 16M 17M
capitalExpenditure -7M -7M -5M -3M -9M -4M
freeCashFlow 2M 4M -3M -5M 8M 13M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

2023 q4
2024-03-28 ET (fiscal 2023 q4)
2023 q3
2023-11-10 ET (fiscal 2023 q3)
2023 q2
2023-08-11 ET (fiscal 2023 q2)
2023 q1
2023-05-12 ET (fiscal 2023 q1)
2022 q4
2023-03-30 ET (fiscal 2022 q4)
2022 q3
2022-11-14 ET (fiscal 2022 q3)
2022 q2
2022-08-12 ET (fiscal 2022 q2)
2022 q1
2022-05-23 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-03-28 10:00 ET
China Automotive Systems Reports Record Annual Revenue, and a 81.2% Increase in Diluted Net Income Per Share to $1.25 in Fiscal Year 2023
2024-03-15 10:00 ET
China Automotive Systems to Announce Unaudited 2023 Fourth Quarter and Audited 2023 Year Financial Results on March 28, 2024
2023-11-10 11:00 ET
China Automotive Systems Reports a 29.2% Increase in Diluted Earnings Per Share Growth in the Third Quarter of 2023
2023-11-03 10:00 ET
China Automotive Systems to Announce Unaudited 2023 Third Quarter Financial Results on November 10, 2023
2023-08-22 10:00 ET
China Automotive Systems Announces Annual Meeting on August 30, 2023
2023-08-11 10:00 ET
China Automotive Systems Reports 90.0% Increase in Net Income Per Share to $0.57 in the First Six Months of 2023
2023-08-03 10:15 ET
China Automotive Systems to Announce Unaudited 2023 Second Quarter Financial Results on August 11, 2023
2023-05-12 10:00 ET
China Automotive Systems' Unaudited Diluted Income Per Share Climbs to $0.23 in the First Quarter of 2023
2023-05-05 10:00 ET
China Automotive Systems to Announce Unaudited 2023 First Quarter Financial Results on May 12, 2023
2023-03-30 10:00 ET
China Automotive Systems Reports a 91.7% Increase in Diluted Net Income Per Share in Fiscal Year 2022
2023-03-22 12:15 ET
China Automotive Systems to Announce Unaudited 2022 Fourth Quarter and Audited 2022 Year Financial Results on March 30, 2023
2022-12-12 11:00 ET
China Automotive Systems Launches New Electric Power Steering Systems for BYD
2022-11-29 13:17 ET
China Automotive Systems Expands Partnership With BYD
2022-11-14 11:00 ET
China Automotive Systems Reports a 26.8% Net Sales Increase in 2022 Third Quarter and 175% Diluted EPS Growth in First Nine Months
2022-11-07 11:00 ET
China Automotive Systems to Announce Unaudited 2022 Third Quarter Financial Results on November 14, 2022
2022-08-18 10:00 ET
China Automotive Systems Announces Annual Meeting on August 26, 2022
2022-08-12 10:00 ET
China Automotive Systems Reports Almost 200% Increase in Net Income in the Second Quarter of 2022
2022-08-05 12:20 ET
China Automotive Systems to Announce Unaudited 2022 Second Quarter Financial Results on August 12, 2022
2022-05-23 10:00 ET
China Automotive Systems Reports Unaudited 2022 First Quarter
2022-05-18 10:00 ET
China Automotive Systems to Announce Unaudited 2022 First Quarter Financial Results on May 23, 2022
2022-05-13 10:00 ET
China Automotive Systems Extends Filing Date of 2022 First Quarter Report to May 23
2022-04-11 10:00 ET
China Automotive Systems Announces Share Repurchase
2022-03-30 10:00 ET
China Automotive Systems Reports Fourth Quarter and Fiscal Year 2021 Results
2022-03-16 10:00 ET
China Automotive Systems to Announce Unaudited 2021 Fourth Quarter and Audited 2021 Year Financial Results on March 30, 2022
2022-01-25 11:00 ET
China Automotive Systems Signs Supply Contract with SCANIA
2021-11-12 11:00 ET
China Automotive Systems Reports Unaudited 2021 Third Quarter Results
2021-11-05 10:00 ET
China Automotive Systems to Announce Unaudited 2021 Third Quarter Financial Results on November 12, 2021
2021-08-12 11:00 ET
China Automotive Systems Reports 45.0% Net Sales Increase in the Second Quarter of 2021
2021-08-10 20:10 ET
China Automotive Systems to Announce Unaudited 2021 Second Quarter Financial Results on August 12, 2021
2021-07-19 11:00 ET
China Automotive Systems Announces Annual Meeting Conference Call on July 28, 2021
2021-07-12 11:00 ET
China Automotive Systems Receives SGS TÜV Certification
2021-07-06 11:00 ET
China Automotive Systems Develops New Steering System for Alfa Romeo's First Subcompact Crossover EV
2021-06-09 11:00 ET
/C O R R E C T I O N -- China Automotive Systems, Inc./
2021-05-12 10:00 ET
China Automotive Systems Reports 77.0% Net Sales Increase and Return to Profitability in the First Quarter of 2021
2021-05-06 10:00 ET
China Automotive Systems to Announce Unaudited 2021 First Quarter Financial Results on May 12, 2021
2021-04-15 11:00 ET
China Automotive Systems' South American Unit Sales to Increase Approximately 200% In 2021
2021-03-30 10:00 ET
China Automotive Systems Reports Fourth Quarter and Fiscal Year 2020 Results
2021-03-22 12:30 ET
China Automotive Systems Introduces New EPS Product to Empower ADAS
2021-03-16 10:00 ET
China Automotive Systems to Announce Unaudited 2020 Fourth Quarter and Audited 2020 Year Financial Results on March 30, 2021
2020-12-03 11:00 ET
China Automotive Systems Registered Record High Monthly Shipments to Commercial Vehicle Market in China
2020-11-30 11:00 ET
China Automotive Systems Significantly Increased Sales to the Rising Chinese EV Market in 2020
2020-11-12 11:00 ET
China Automotive Systems Reports Unaudited 2020 Third Quarter Results
2020-11-09 11:00 ET
China Automotive Systems to Announce 2020 Third Quarter Unaudited Financial Results on November 12, 2020
2020-08-25 10:00 ET
China Automotive Systems Announces Share Repurchase
2020-08-14 10:00 ET
China Automotive Systems Reports 2020 Second Quarter Unaudited Financial Results
2020-08-06 22:42 ET
China Automotive Systems Announces Annual Meeting Conference Call on August 17, 2020
2020-08-06 10:00 ET
China Automotive Systems to Announce 2020 Second Quarter Financial Results on August 14, 2020
2020-06-23 10:00 ET
China Automotive Systems Reports 2020 First Quarter Results
2020-06-15 10:00 ET
China Automotive Systems to Announce 2020 First Quarter Financial Results on June 23, 2020
2020-05-14 10:00 ET
China Automotive Systems Reports Fourth Quarter and Fiscal 2019 Results
2020-05-06 10:00 ET
China Automotive Systems to Announce 2019 Fourth Quarter Financial Results on May 14, 2020
2020-03-23 10:00 ET
China Automotive Systems extends filing date for 2019 annual report
2020-03-12 10:00 ET
China Automotive Systems Provides Updates on Reopening of Production Centers
2019-12-10 11:00 ET
China Automotive Systems Provides Updates on Electric Motor Subsidiary
2019-11-21 13:45 ET
China Automotive Systems Nominated as Best Supplier by Fiat Chrysler Automobile
2019-11-12 11:00 ET
China Automotive Systems Reports Unaudited 2019 Third Quarter Results
2019-11-05 11:45 ET
China Automotive Systems to Announce 2019 Third Quarter Financial Results on November 12, 2019
2019-10-07 10:00 ET
China Automotive Systems Passes Supplier Evaluation By IVECO
2019-09-30 10:00 ET
China Automotive Systems signs new contract with SAIC Maxus
2019-08-08 10:00 ET
China Automotive Systems Reports 2019 Second Quarter Unaudited Financial Results
2019-07-31 10:00 ET
China Automotive Systems to Announce 2019 Second Quarter Financial Results on August 8, 2019
2019-07-23 10:00 ET
China Automotive Systems Announces Changes to the Board of Directors
2019-07-09 10:00 ET
China Automotive Systems Announces Annual Meeting Conference Call on July 18, 2019
2019-03-28 14:27 ET
China Automotive Systems Reports Fourth Quarter and Fiscal 2018 Results

SEC forms

Show financial reports only

SEC form 8
2024-03-28 08:06 ET
China Automotive Systems published news for 2023 q4
SEC form 8
2024-03-28 08:06 ET
China Automotive Systems published news for 2023 q4
SEC form 10
2024-03-28 08:04 ET
China Automotive Systems reported for 2023 q4
SEC form 10
2024-03-28 00:00 ET
China Automotive Systems published news for 2023 q4
SEC form 10
2023-11-13 00:00 ET
China Automotive Systems reported for 2023 q3
SEC form 8
2023-11-13 00:00 ET
China Automotive Systems published news for 2023 q3
SEC form 6
2023-08-11 06:05 ET
China Automotive Systems published news for 2023 q2
SEC form 10
2023-08-11 06:03 ET
China Automotive Systems reported for 2023 q2
SEC form 10
2023-08-11 00:00 ET
China Automotive Systems published news for 2023 q2
SEC form 8
2023-08-11 00:00 ET
China Automotive Systems published news for 2023 q2
SEC form 6
2023-07-14 06:01 ET
China Automotive Systems published news for 2023 q2
SEC form 6
2023-05-12 06:07 ET
China Automotive Systems published news for 2023 q1
SEC form 10
2023-05-12 06:06 ET
China Automotive Systems published news for 2023 q1
SEC form 8
2023-05-12 00:00 ET
China Automotive Systems published news for 2023 q1
SEC form 10
2023-05-12 00:00 ET
China Automotive Systems published news for 2023 q1
SEC form 6
2023-03-30 07:28 ET
China Automotive Systems published news for 2022 q4
SEC form 10
2023-03-30 07:25 ET
China Automotive Systems published news for 2022 q4
SEC form 10
2023-03-30 00:00 ET
China Automotive Systems reported for 2022 q4
SEC form 8
2023-03-30 00:00 ET
China Automotive Systems reported for 2022 q4
SEC form 10
2022-11-14 00:00 ET
China Automotive Systems reported for 2022 q3
SEC form 8
2022-11-14 00:00 ET
China Automotive Systems reported for 2022 q3
SEC form 10
2022-08-12 00:00 ET
China Automotive Systems reported for 2022 q2
SEC form 8
2022-08-12 00:00 ET
China Automotive Systems reported for 2022 q2
SEC form 10
2022-05-23 00:00 ET
China Automotive Systems reported for 2022 q1
SEC form 8
2022-05-23 00:00 ET
China Automotive Systems reported for 2022 q1
SEC form 10
2022-03-30 00:00 ET
China Automotive Systems published news for 2021 q4
SEC form 8
2022-03-30 00:00 ET
China Automotive Systems published news for 2021 q4
SEC form 10
2021-11-12 00:00 ET
China Automotive Systems published news for 2021 q3
SEC form 8
2021-11-12 00:00 ET
China Automotive Systems published news for 2021 q3
SEC form 10
2021-08-12 00:00 ET
China Automotive Systems published news for 2021 q2
SEC form 10
2021-05-12 00:00 ET
China Automotive Systems published news for 2021 q1