Kandi Technologies (KNDI)
NASDAQ:KNDI
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Kandi Technologies
(NASDAQ:KNDI)
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Rating:50Neutral
Price Target:
$1.00
▲(6.38% Upside)
Action:ReiteratedDate:01/27/26
The score is held down primarily by weak financial performance (ongoing losses and negative operating/free cash flow). Technicals are a relative positive with the stock trading above key moving averages and a positive MACD, but valuation remains challenged because the company is unprofitable (negative P/E).
Positive Factors
Low leverage
A low debt-to-equity ratio provides durable financial flexibility, lowering interest burden and supporting capital allocation for EV development and battery infrastructure. This balance-sheet cushion helps the company withstand operating losses and fund strategic initiatives over months.
Negative Factors
Persistent unprofitability
Sustained negative profitability and falling EBIT/EBITDA margins limit internal reinvestment and shareholder value creation. Without a durable margin turnaround or significant revenue acceleration, the company will remain dependent on external funding and face ongoing returns pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
A low debt-to-equity ratio provides durable financial flexibility, lowering interest burden and supporting capital allocation for EV development and battery infrastructure. This balance-sheet cushion helps the company withstand operating losses and fund strategic initiatives over months.
Read all positive factors
Kandi Technologies (KNDI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$71.29M
Dividend YieldN/A
Average Volume (3M)172.71K
Price to Earnings (P/E)27.8
Beta (1Y)0.53
Revenue Growth3.21%
EPS Growth-6985.88%
CountryUS
Employees840
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)N/A
Shares Outstanding85,985,664
10 Day Avg. Volume308,571
30 Day Avg. Volume172,707
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.29
Price to Sales (P/S)0.77
P/FCF Ratio-5.26
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue0.74
Enterprise Value/Gross Profit2.10
Enterprise Value/Ebitda-2.53
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kandi Technologies Business Overview & Revenue Model
Company Description
Kandi Technologies (KNDI) is a Chinese electric vehicle manufacturer focused on producing affordable, environmentally friendly transportation solutions. The company operates primarily in the electric vehicle sector, offering a range of products th...
How the Company Makes Money
Kandi Technologies generates revenue primarily through the sale of electric vehicles and related components. Its core revenue streams include the direct sale of electric cars to consumers and fleet operators, as well as revenue from the sale of el...
Kandi Technologies Earnings Call Summary
Earnings Call Date:Aug 19, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:May 04, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture with significant improvements in gross margin and strategic partnerships in emerging segments, but faced challenges with a notable decline in revenue and net income. Despite these challenges, the company maintains a strong financial position and is optimistic about its strategic initiatives.Positive Updates
Gross Margin Improvement
Gross margin improved significantly to 45.2% for the first half of 2025, up 13.5 percentage points from 31.7% in the same period of 2024, reflecting effective refined operations and cost control initiatives.
Negative Updates
Significant Revenue Decrease
Net revenues were $36.3 million, down 39.3% from $59.8 million for the same period of 2024, primarily due to lower sales of off-road vehicles and EV products.
Read all updates
Q2-2025 Updates
Positive
Negative
Gross Margin Improvement
Gross margin improved significantly to 45.2% for the first half of 2025, up 13.5 percentage points from 31.7% in the same period of 2024, reflecting effective refined operations and cost control initiatives.
Read all positive updates
Company Guidance
During the earnings call for the first half of 2025, Kandi Technologies highlighted several financial metrics and strategic initiatives. The company reported a significant improvement in gross margin, which increased to 45.2% from 31.7% in the same period of 2024, driven by refined operations and cost control measures. Net revenues, however, declined by 39.3% to $36.3 million from $59.8 million in 2024, primarily due to lower sales of off-road vehicles and EV products. Despite this, the company maintained a strong cash position with $257 million in cash, cash equivalents, restricted cash, and certificates of deposit as of June 30, 2025. Operating expenses were reduced by 21.4% to $18.3 million, while net income slightly decreased to $1.7 million from $2.4 million in the previous year. Strategically, Kandi is enhancing its market presence through key partnerships and expanding into intelligent equipment and new energy infrastructure sectors, which includes collaboration with Deep Robotics and securing a pivotal order for heavy truck battery swapping station equipment with CATL.Kandi Technologies Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 104.04M | 127.57M | 123.60M | 117.81M | 91.49M | 76.92M |
| Gross Profit | 36.69M | 39.27M | 41.37M | 19.52M | 16.25M | 13.49M |
| EBITDA | -30.43M | -32.82M | 102.65K | -12.12M | -37.20M | -5.28M |
| Net Income | -51.09M | -50.50M | 7.13K | -12.12M | 22.86M | -10.39M |
Balance Sheet | ||||||
| Total Assets | 443.35M | 473.90M | 495.46M | 482.98M | 520.16M | 495.25M |
| Cash, Cash Equivalents and Short-Term Investments | 185.73M | 42.79M | 67.70M | 165.25M | 184.27M | 142.08M |
| Total Debt | 37.84M | 84.86M | 41.53M | 24.69M | 11.36M | 92.44K |
| Total Liabilities | 87.39M | 127.27M | 88.95M | 85.29M | 76.96M | 91.48M |
| Stockholders Equity | 354.05M | 344.70M | 404.12M | 396.97M | 443.20M | 403.77M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -18.75M | -114.41M | 27.66M | -18.90M | -69.07M |
| Operating Cash Flow | 0.00 | -17.82M | -101.16M | 31.48M | 241.69K | -50.88M |
| Investing Cash Flow | 0.00 | 25.72M | 32.28M | -35.03M | 22.21M | 51.15M |
| Financing Cash Flow | 0.00 | 22.51M | 14.83M | -4.33M | 747.93K | 126.45M |
Kandi Technologies Technical Analysis
Negative
0.94
Price Trends
0.98
Negative
0.96
Negative
1.11
Negative
Market Momentum
-0.04
Positive
36.96
Neutral
27.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KNDI, the sentiment is Negative. The current price of 0.94 is above the 20-day moving average (MA) of 0.91, below the 50-day MA of 0.98, and below the 200-day MA of 1.11, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 36.96 is Neutral, neither overbought nor oversold. The STOCH value of 27.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KNDI.
Kandi Technologies Risk Analysis
Kandi Technologies disclosed 49 risk factors in its most recent earnings report. Kandi Technologies reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Your rights as a shareholder of Kandi will change as a result of the Reincorporation and you may not be afforded as many rights as a shareholder of Kandi BVI under applicable laws and the Kandi BVI memorandum and articles of association as you were as a shareholder of Kandi under applicable laws and the Kandi certificate of incorporation and bylaws. Q4, 2023
2.
BVI companies may not be able to initiate shareholder derivative actions, thereby depriving shareholders of the ability to protect their interests. Q4, 2023
3.
Kandi BVI's Amended and Restated Articles of Association provide for the exclusive jurisdiction of the Courts of the British Virgin Islands for substantially all disputes between Kandi BVI and its shareholders, which could limit the shareholders' ability to obtain a favorable judicial forum for disputes with Kandi BVI or its directors, officers, other employees or shareholders. Q4, 2023
Kandi Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $126.11M | 3.67 | 9.22% | ― | 16.72% | 5.35% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $130.43M | -2.14 | -16.59% | ― | -23.26% | -259.03% | |
50 Neutral | $71.29M | 27.75 | -14.00% | ― | 3.21% | -6985.88% | |
48 Neutral | $11.79M | -0.68 | -95.96% | ― | 123.37% | 44.08% | |
47 Neutral | $53.33M | -10.01 | -58.76% | ― | -14.88% | -43.30% | |
45 Neutral | $67.25M | -3.49 | -33.62% | ― | -13.01% | 21.49% |
* Consumer Cyclical Sector Average
KNDI
Kandi Technologies
0.83
-0.39
-32.05%
CAAS
China Automotive Systems
4.18
0.53
14.52%
CVGI
Commercial Vehicle Group
3.56
2.43
215.04%
SYPR
Sypris
2.92
1.29
79.14%
WKSP
Worksport
0.99
-2.05
-67.37%
GGR
Gogoro
3.61
-0.89
-19.78%
Kandi Technologies Corporate Events
Kandi Technologies Acquires Rawrr Inc. in $23.9 Million Deal
Dec 11, 2025
On December 5, 2025, Kandi Technologies Group, Inc. announced a share transfer agreement to acquire Rawrr Inc., a California corporation, for $23.9 million. The acquisition, payable in Kandi’s ordinary shares, aims to integrate Rawrr as a su...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.