CENNTRO ELECTRIC Reports 174.3% YOY Revenue Increase of USD 5.8 Million for Q3 FY2023
November 23, 2023
☀️Earnings Overview
CENNTRO ELECTRIC ($NASDAQ:CENN) reported a total revenue of USD 5.8 million for the third quarter of FY2023, on September 30, 2023, which was a 174.3% increase compared to the same quarter of the previous year.
Analysis
GoodWhale has conducted an analysis of CENNTRO ELECTRIC‘s fundamentals, and according to Star Chart CENNTRO ELECTRIC is rated strong in asset and growth, but weak in dividend and profitability. This gives CENNTRO ELECTRIC an intermediate health score of 4/10, suggesting it is likely to pay off debt and fund future operations. CENNTRO ELECTRIC falls into the “cheetah” category; a type of company that achieves high revenue or earnings growth but is considered less stable due to lower profitability. Investors looking to invest in CENNTRO ELECTRIC should be aware of the lower profitability and associated risk, but also aware of the potential for growth that can come with a company like this. Risk-tolerant investors who are looking for potential short-term gains or high stake dividends may find CENNTRO ELECTRIC an interesting investment opportunity. On the other hand, more conservative investors may want to avoid this stock due to the higher risk. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cenntro Electric. More…
| Total Revenues | Net Income | Net Margin |
| 15.28 | -114.42 | -433.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cenntro Electric. More…
| Operations | Investing | Financing |
| -67.32 | -39.1 | -51.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cenntro Electric. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 191.86 | 59.85 | 0.43 |
Key Ratios Snapshot
Some of the financial key ratios for Cenntro Electric are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 35.7% | – | -740.3% |
| FCF Margin | ROE | ROA |
| -512.6% | -50.7% | -36.9% |
Peers
The company’s products include electric cars, electric vans, electric buses, and electric charging stations. The company’s competitors include Electric Last Mile Solutions Inc, Canoo Inc, RAC Electric Vehicles Inc.
– Electric Last Mile Solutions Inc ($NASDAQ:ELMS)
Canoo Inc is a publicly traded company with a market capitalization of $390.19 million as of 2022. The company has a negative return on equity of 161.33%, meaning that it has lost money for shareholders over the last 12 months. Canoo is a designer and manufacturer of electric vehicles. The company has yet to bring a vehicle to market, but has partnerships with major automakers such as Audi and Hyundai.
– Canoo Inc ($NASDAQ:GOEV)
RAC Electric Vehicles Inc is a publicly traded company that designs, manufactures and sells electric vehicles. The company has a market capitalization of $3.63 billion as of 2022 and a return on equity of -10.56%. RAC Electric Vehicles Inc is headquartered in Los Angeles, California.
Summary
CENNTRO ELECTRIC‘s third quarter financials for FY2023 appear to be encouraging for investors, as total revenue grew 174.3% year-over-year. Despite this, net income for the quarter was still negative at -16.1 million, however this is a significant improvement from the FY2022 results of -14.4 million. Moving forward, investors may be optimistic about the potential growth of CENNTRO ELECTRIC given its substantial revenue increase and improved net income.
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