IAT Automobile Technology Co., Ltd. (300825.SZ) Bundle
Investors eyeing IAT Automobile Technology Co., Ltd. (300825.SZ) will find a company with growing top-line momentum-Q1 2025 revenue of ¥269 million (+6.51% YoY) and TTM revenue of ¥1.09 billion (up 25.12% vs. prior year)-but mounting profitability strain, including a TTM net loss of ¥-284.93 million and a 2024 operating margin of -19.86% despite a 2024 gross profit margin of 20.65% (gross profit ¥200.55 million); liquidity ratios show cushion (current ratio 2.03, quick ratio 1.50) and conservative leverage (debt/equity 0.25) even as interest coverage sits at -12.50, valuation metrics point to investor expectations with a market capitalization of ¥4.67 billion and a P/S of 5.73 while the stock is down 26.08% over 52 weeks-paired with strategic moves into EV battery systems, robotics via Beijing IATROBOT, and M&A targeting autonomous driving that underlie analyst revenue CAGR forecasts of 39.3% over three years and potential EPS recovery-read on to unpack the numbers, risks, and growth catalysts shaping IAT's financial health
IAT Automobile Technology Co., Ltd. (300825.SZ) - Revenue Analysis
IAT Automobile Technology reported continued top-line expansion across recent reporting periods, driven by product mix and sales execution.- Q1 2025 revenue: 269 million yuan (+6.51% YoY)
- TTM revenue as of 2025-09-30: 1.09 billion yuan (+25.12% YoY)
- Full-year 2024 revenue: 970.98 million yuan (+13.17% vs. 2023)
- Revenue per share (FY2024): 1.97 yuan
- Revenue per employee: ~470,857 yuan (2,315 employees)
- Market capitalization (2025-12-12): 4.67 billion yuan; P/S: 4.13
| Period | Revenue (yuan) | YoY Change | Notes |
|---|---|---|---|
| Q1 2025 | 269,000,000 | +6.51% | Quarterly topline growth |
| TTM (as of 2025-09-30) | 1,090,000,000 | +25.12% | Trailing twelve months |
| FY 2024 | 970,980,000 | +13.17% | Annual reported revenue |
| Revenue per share (2024) | 1.97 | N/A | Yuan per share |
| Revenue per employee | ~470,857 | N/A | Based on 2,315 employees |
| Market cap (2025-12-12) | 4,670,000,000 | N/A | P/S = 4.13 |
IAT Automobile Technology Co., Ltd. (300825.SZ) - Profitability Metrics
IAT Automobile Technology Co., Ltd. (300825.SZ) exhibits weakening profitability through 2024 into 2025, with key metrics showing contraction in margins, negative operating results and a TTM net loss as of September 30, 2025.- Q1 2025 net income: 12.39 million yuan (down 40.23% YoY)
- TTM net income as of 2025-09-30: -284.93 million yuan (net loss)
- Fiscal year 2024 gross profit: 200.55 million yuan; gross profit margin: 20.65%
- Fiscal year 2024 operating income: -192.80 million yuan; operating margin: -19.86%
- Fiscal year 2024 ROE: -13.17%
- Fiscal year 2024 EPS: -0.27 yuan
| Metric | Period | Value |
|---|---|---|
| Net income (quarter) | Q1 2025 | 12.39 million yuan (-40.23% YoY) |
| Net income (TTM) | As of 2025-09-30 | -284.93 million yuan |
| Gross profit | FY 2024 | 200.55 million yuan |
| Gross profit margin | FY 2024 | 20.65% |
| Operating income | FY 2024 | -192.80 million yuan |
| Operating margin | FY 2024 | -19.86% |
| Return on equity (ROE) | FY 2024 | -13.17% |
| Earnings per share (EPS) | FY 2024 | -0.27 yuan |
- Profitability pressure drivers: elevated operating expenses relative to gross profit, negative ROE (-13.17%), and negative EPS (-0.27 yuan) for FY 2024.
- Short-term signal: Q1 2025 small positive net income (12.39 million) but sharply down YoY - not yet evidence of sustained recovery.
- Medium-term signal: TTM net loss as of 2025-09-30 confirms ongoing annualized weakness.
IAT Automobile Technology Co., Ltd. (300825.SZ) - Debt vs. Equity Structure
IAT Automobile Technology's capital structure and liquidity profile present a company with modest leverage but stressed operating profitability. Key metric snapshots and practical implications for investors follow.
- Debt-to-Equity Ratio: 0.25 - indicates a conservative use of debt; equity dominates the capital base.
- Current Ratio: 2.03 - suggests the company holds sufficient short-term assets to cover short-term liabilities comfortably.
- Quick Ratio: 1.50 - shows adequate immediate liquidity excluding inventory, supporting short-term obligations.
- Interest Coverage Ratio: -12.50 - negative EBIT leads to inability to cover interest expense from operating earnings.
- EV/Earnings: -17.52 - negative earnings; enterprise value divided by profit is not meaningful as a positive multiple.
- EV/Sales: 4.58 - the market values the enterprise at ~4.6x annual sales, implying expectations for growth or margin improvement despite current negative earnings.
| Metric | Value | Interpretation |
|---|---|---|
| Debt-to-Equity Ratio | 0.25 | Low leverage - 25 cents of debt per 1.00 of equity |
| Current Ratio | 2.03 | Short-term coverage: >2x current liabilities |
| Quick Ratio | 1.50 | Liquid assets (excl. inventory) adequate for near-term needs |
| Interest Coverage Ratio (EBIT/Interest) | -12.50 | Negative operating earnings - cannot service interest from EBIT |
| EV / Earnings | -17.52 | Negative earnings distort valuation multiple |
| EV / Sales | 4.58 | Enterprise valued at ~4.6x revenue |
Investor implications include balancing the comfort of low financial leverage and strong short-term liquidity against the material concern of negative operating profitability and interest coverage. For context on corporate direction and strategic priorities, see Mission Statement, Vision, & Core Values (2026) of IAT Automobile Technology Co., Ltd.
IAT Automobile Technology Co., Ltd. (300825.SZ) - Liquidity and Solvency
IAT Automobile Technology's liquidity profile shows adequate short-term coverage but strained operating earnings that affect solvency metrics.- Current ratio: 2.03 - short-term assets cover short-term liabilities by just over 2x.
- Quick ratio: 1.50 - indicates sufficient immediate liquidity excluding inventory.
- Interest coverage ratio: -12.50 - negative EBIT leads to inability to cover interest from operating earnings.
- Debt-to-equity ratio: 0.25 - conservative leverage with debt equal to 25% of equity.
- EV/Earnings: -17.52 - negative earnings depress this valuation multiple.
- EV/Sales: 4.58 - enterprise value roughly 4.6x trailing sales, reflecting market valuation relative to revenue.
| Metric | Value | Interpretation |
|---|---|---|
| Current Ratio | 2.03 | Healthy short-term coverage |
| Quick Ratio | 1.50 | Can meet immediate obligations without relying on inventory |
| Interest Coverage Ratio | -12.50 | Negative operating earnings; cannot service interest from EBIT |
| Debt-to-Equity Ratio | 0.25 | Low leverage, lower solvency risk from debt levels |
| EV / Earnings | -17.52 | Negative earnings distort valuation; caution for earnings-based multiples |
| EV / Sales | 4.58 | Valuation ~4.6x revenue |
IAT Automobile Technology Co., Ltd. (300825.SZ) - Valuation Analysis
IAT Automobile Technology Co., Ltd. (300825.SZ) presents a mixed valuation profile characterized by negative earnings yet notable revenue-based multiples and a relatively low market volatility. Key headline metrics as of December 12, 2025:
| Metric | Value | Notes |
|---|---|---|
| Price-to-Earnings (P/E) | -41.85 | Negative earnings drive the inverse P/E |
| Price-to-Sales (P/S) | 5.73 | Investors pay 5.73 CNY per 1 CNY of sales |
| Enterprise Value / Earnings (EV/Earnings) | -17.52 | Negative earnings reflected in EV multiple |
| Enterprise Value / Sales (EV/Sales) | 4.58 | Enterprise value equals 4.58× annual sales |
| Market Capitalization (12‑Dec‑2025) | 4.67 billion CNY | Reported market cap on specified date |
| 52‑Week Price Change | -26.08% | One‑year stock decline |
| Beta (× market) | 0.55 | Lower volatility vs. broader market |
- Negative P/E and EV/Earnings (-41.85 and -17.52) indicate the company reported net losses; valuation based on earnings is not meaningful until profitability returns.
- Relatively high P/S (5.73) and EV/Sales (4.58) show the market places a premium on the company's revenue base despite losses.
- Market cap of 4.67 billion CNY anchors absolute size; combined with a 26.08% 52‑week decline, investor sentiment has weakened over the past year.
- Beta of 0.55 suggests share price movements are less sensitive to market swings, which can appeal to risk‑conscious investors seeking lower correlation.
Implications for valuation approaches and investor scenarios:
- Relative valuation: Using P/S and EV/Sales, IAT's multiples can be compared to peers in automotive tech and suppliers to gauge premium/discount despite negative earnings.
- Recovery/pro forma scenarios: If margins improve and earnings turn positive, P/E and EV/Earnings could swing rapidly; model break‑even sales and margin thresholds are critical.
- Risk adjustment: The negative earnings multiples necessitate heavier weighting on cash flow projections, balance‑sheet strength, and potential dilution from financing.
For a deeper look at the company's strategic direction and non‑financial context that interacts with valuation, see: Mission Statement, Vision, & Core Values (2026) of IAT Automobile Technology Co., Ltd.
IAT Automobile Technology Co., Ltd. (300825.SZ) - Risk Factors
IAT Automobile Technology Co., Ltd. is exhibiting several financial red flags that increase investor risk: sustained losses, negative profitability metrics, strained coverage of interest obligations, valuation distortions from negative earnings, and recent share-price weakness. Key quantified risk indicators are presented below.- Trailing twelve months net loss (ending 2025-09-30): -284.93 million yuan.
- Fiscal year 2024 operating income: -192.80 million yuan; operating margin: -19.86%.
- Return on equity (FY2024): -13.17%.
- Interest coverage ratio: -12.50 (negative EBIT - potential difficulty servicing interest).
- Enterprise value to earnings (EV/Earnings): -17.52 (reflects negative earnings base).
- 52-week stock price change: -26.08%; beta: 0.55 (lower volatility vs. market but downtrend risk).
| Metric | Value | Implication |
|---|---|---|
| Net income (TTM to 2025-09-30) | -284.93M CNY | Ongoing losses reduce equity and restrict reinvestment |
| Operating income (FY2024) | -192.80M CNY | Core operations unprofitable; raises sustainability concerns |
| Operating margin (FY2024) | -19.86% | Negative margin signals inability to cover operating costs |
| Return on Equity (FY2024) | -13.17% | Shareholder capital generating negative returns |
| Interest Coverage Ratio | -12.50 | Negative EBIT - heightened default or refinancing risk |
| EV / Earnings | -17.52 | Valuation metrics unreliable due to negative earnings |
| 52-week Price Change | -26.08% | Significant share-price decline over the past year |
| Beta | 0.55 | Lower volatility than market but downside persistence |
- Liquidity and solvency risk: negative operating results and negative interest coverage heighten short-term liquidity strain and may force debt restructuring or equity raises that dilute holders.
- Profitability recovery risk: operating margin of -19.86% and negative ROE mean management must demonstrate a credible turnaround plan to restore investor confidence.
- Valuation and market risk: negative earnings produce anomalous multiples (EV/Earnings = -17.52) complicating fair-value assessment; 26.08% 52-week decline reflects market skepticism.
- Execution risk: converting product development or order book into margin-improving revenue is critical; failure will prolong losses.
- Refinancing and interest-rate risk: negative interest coverage implies vulnerability if financing conditions tighten or rates rise.
IAT Automobile Technology Co., Ltd. (300825.SZ) Growth Opportunities
IAT Automobile Technology Co., Ltd. (300825.SZ) is positioning itself across multiple high-growth vectors-electric vehicles, robotics, and autonomous driving-backed by strategic partnerships, internal R&D and an active M&A strategy. Key initiatives and quantified targets highlight where incremental revenue and margin expansion are expected.- Strategic EV partnerships: alliances with technology firms to integrate advanced battery management systems aimed at reducing production costs by 20%.
- Robotics entry: Beijing IATROBOT Technology Co., Ltd. established to build an integrated R&D, design, and simulation training platform for multi-scenario robotics development.
- M&A focus: targeted acquisitions of autonomous driving startups to accelerate capability buildout and shorten time-to-market for driver-assist and autonomy features.
- Analyst growth outlook: consensus revenue CAGR of 39.3% over the next three years, signalling aggressive top-line expansion expectations.
- EPS trajectory: projected EPS rising from $1.00 in 2023 to $1.40 by 2026, an approximate CAGR of 11% for earnings per share.
| Metric | Value |
|---|---|
| Projected Revenue CAGR (next 3 years) | 39.3% |
| EPS 2023 | $1.00 |
| EPS 2026 (projected) | $1.40 |
| EPS CAGR (2023-2026) | ~11% |
| Production cost reduction target (EV BMS integration) | 20% |
| Employees | 2,315 |
| Revenue per employee | 470,857 yuan |
- Revenue scaling: a 39.3% revenue CAGR implies material increases in absolute revenue that can dilute fixed costs and accelerate margin expansion.
- Margin levers: 20% production-cost reductions from advanced BMS plus software-driven product premiums from robotics/autonomy.
- Human capital leverage: higher revenue-per-employee potential via software/platform offerings from IATROBOT and autonomy integrations.
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