Overview Dividends

(ECX) ECARX Holdings Ordinary - Ratings and Ratios

Exchange: NASDAQ • Country: China • Currency: USD • Type: Common Stock • ISIN: KYG292011031

SoC, Head Unit, Cockpit, OS Stack

Automotive Parts & Equipment
Market Cap in USD: 542m

IPO / Inception: 2022-12-20
Return 12m vs S&P 500: -30.8%

EPS (Earnings per Share)

EPS CAGR: -25.40%
EPS Trend: -53.5%

Last SUE: 0.00
Qual. Beats: 0

Revenue

Rev. CAGR: 17.80%
Rev. Trend: 64.4%

Last SUE: 0.81
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	93.8%
Value at Risk 5%th	147%
Relative Tail Risk	-4.80%

Reward TTM
Sharpe Ratio	0.41
Alpha	-21.59
CAGR/Max DD	-0.41

Character TTM
Hurst Exponent	0.402
Beta	0.714
Beta Downside	1.461

Drawdowns 3y
Max DD	90.59%
Mean DD	65.75%
Median DD	76.51%

Description: ECX ECARX Holdings Ordinary December 25, 2025

ECARX Holdings Inc. (NASDAQ: ECX) is a Shanghai-based developer of a full-stack automotive computing platform, offering system-on-chip (SoC) hardware, central computing platforms, operating systems, and integrated software for smart mobility applications in China and abroad. Its product lineup spans infotainment head units, autonomous driving control units, digital cockpits, vehicle chipset solutions, a core OS, and a complete software stack, and the firm has formalized a strategic partnership with Black Sesame Technologies to accelerate AI-driven vehicle intelligence.

Key quantitative signals (as of Q3 2024 filings) include: • Revenue growth of ~48 % YoY, driven by rising orders from Chinese OEMs transitioning to electric and autonomous models; • R&D intensity of roughly 30 % of revenue, reflecting the capital-intensive nature of automotive chip development; • The global automotive electronics market is projected to expand at a 7-8 % CAGR through 2030, with China accounting for ~35 % of total spend, providing a sizable tailwind for ECARX’s addressable market. These drivers suggest a high-growth environment but also expose the company to supply-chain volatility and regulatory risk in the Chinese tech sector.

For a deeper quantitative assessment, you may find ValueRay’s detailed financial model useful.

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (-230.8m TTM) > 0 and > 6% of Revenue (6% = 340.8m TTM)

FCFTA -0.15 (>2.0%) and ΔFCFTA 19.23pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -42.80% (prev -30.94%; Δ -11.86pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.12 (>3.0%) and CFO -430.3m <= Net Income -230.8m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 0.54 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (340.6m) change vs 12m ago 1.94% (target <= -2.0% for YES)

Gross Margin 73.88% (prev 56.40%; Δ 17.48pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 153.2% (prev 148.3%; Δ 4.85pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -5.28 (EBITDA TTM -145.7m / Interest Expense TTM 103.9m) >= 6 (WARN >= 3)

Altman Z'' -14.66

(A) -0.67 = (Total Current Assets 2.83b - Total Current Liabilities 5.26b) / Total Assets 3.61b

(B) -2.35 = Retained Earnings (Balance) -8.49b / Total Assets 3.61b

warn (B) unusual magnitude: -2.35 — check mapping/units

(D) -1.51 = Book Value of Equity -8.59b / Total Liabilities 5.70b

Total Rating: -14.66 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 38.29

1. Piotroski 3.0pt

2. FCF Yield -9.17%

3. FCF Margin -9.59%

4. Debt/Equity -1.27

5. Debt/Ebitda -15.97

7. RoE 15.90%

8. Rev. Trend 64.40%

9. EPS Trend -53.55%

What is the price of ECX shares?

As of January 01, 2026, the stock is trading at USD 1.72 with a total of 1,183,452 shares traded.
Over the past week, the price has changed by +2.38%, over one month by -2.82%, over three months by -14.43% and over the past year by -18.48%.

Is ECX a buy, sell or hold?

ECARX Holdings Ordinary has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy ECX.

Strong Buy: 6
Buy: 0
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ECX price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	3.6	111.6%
Analysts Target Price	3.6	111.6%
ValueRay Target Price	1.3	-23.8%

ECX Fundamental Data Overview December 30, 2025

Market Cap CNY = 3.80b (542.2m USD * 7.0067 USD.CNY)
P/S = 0.6591
Beta = 0.745
Revenue TTM = 5.68b CNY
EBIT TTM = -548.1m CNY
EBITDA TTM = -145.7m CNY
Long Term Debt = 5.50m CNY (from longTermDebt, last quarter)
Short Term Debt = 2.50b CNY (from shortTermDebt, last quarter)
Debt = 2.64b CNY (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.33b CNY (from netDebt column, last quarter)
Enterprise Value = 5.94b CNY (3.80b + Debt 2.64b - CCE 497.6m)
Interest Coverage Ratio = -5.28 (Ebit TTM -548.1m / Interest Expense TTM 103.9m)
FCF Yield = -9.17% (FCF TTM -544.9m / Enterprise Value 5.94b)
FCF Margin = -9.59% (FCF TTM -544.9m / Revenue TTM 5.68b)
Net Margin = -4.06% (Net Income TTM -230.8m / Revenue TTM 5.68b)
Gross Margin = 73.88% ((Revenue TTM 5.68b - Cost of Revenue TTM 1.48b) / Revenue TTM)
Gross Margin QoQ = 88.99% (prev 85.46%)
Tobins Q-Ratio = 1.65 (Enterprise Value 5.94b / Total Assets 3.61b)
Interest Expense / Debt = 0.14% (Interest Expense 3.70m / Debt 2.64b)
Taxrate = -12.50% (negative due to tax credits) (-100.0k / 800.0k)
NOPAT = -616.6m (EBIT -548.1m * (1 - -12.50%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 0.54 (Total Current Assets 2.83b / Total Current Liabilities 5.26b)
Debt / Equity = -1.27 (negative equity) (Debt 2.64b / totalStockholderEquity, last quarter -2.08b)
Debt / EBITDA = -15.97 (negative EBITDA) (Net Debt 2.33b / EBITDA -145.7m)
Debt / FCF = -4.27 (negative FCF - burning cash) (Net Debt 2.33b / FCF TTM -544.9m)
Total Stockholder Equity = -1.45b (last 4 quarters mean from totalStockholderEquity)
RoA = -6.39% (Net Income -230.8m / Total Assets 3.61b)
RoE = 15.90% (negative equity) (Net Income TTM -230.8m / Total Stockholder Equity -1.45b)
RoCE = 37.89% (negative capital employed) (EBIT -548.1m / Capital Employed (Equity -1.45b + L.T.Debt 5.50m))
RoIC = -187.4% (out of range, set to none) (NOPAT -616.6m / Invested Capital 329.0m)
WACC = 5.17% (E(3.80b)/V(6.44b) * Re(8.65%) + D(2.64b)/V(6.44b) * Rd(0.14%) * (1-Tc(-0.12)))
Discount Rate = 8.65% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.40%
Fair Price DCF = unknown (Cash Flow -544.9m)
EPS Correlation: -53.55 | EPS CAGR: -25.40% | SUE: 0.0 | # QB: 0
Revenue Correlation: 64.40 | Revenue CAGR: 17.80% | SUE: 0.81 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.02 | Chg30d=+0.040 | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=0.12 | Chg30d=+0.010 | Revisions Net=-1 | Growth EPS=+216.0% | Growth Revenue=+31.1%

Additional Sources for ECX Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle