Cango Inc Stock Fair Value – CANGO INC Reports Third Quarter FY2023 Earnings Results
December 2, 2023
🌥️Earnings Overview
CANGO INC ($NYSE:CANG) reported a total revenue of CNY 353.6 million for the third quarter of FY2023, ending November 29 2023, representing a 15.1% year-over-year decrease from September 30 2023. Net income was CNY -49.1 million, a significant reduction from the previous year’s -130.3 million.
Price History
On Wednesday, CANGO INC released their third quarter FY2023 earnings results. The stock opened at $1.1 and closed at $1.1, down by 0.9% from the previous day’s closing price of $1.1. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cango Inc. More…
| Total Revenues | Net Income | Net Margin |
| 2.06k | -493.03 | -19.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cango Inc. More…
| Operations | Investing | Financing |
| -567.39 | 1.96k | -2.99k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cango Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.01k | 1.05k | 29.35 |
Key Ratios Snapshot
Some of the financial key ratios for Cango Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.9% | -64.7% | -5.9% |
| FCF Margin | ROE | ROA |
| -27.8% | -1.9% | -1.5% |
Analysis – Cango Inc Stock Fair Value
At GoodWhale, we have conducted an intensive study of CANGO INC‘s financials. After careful consideration of the company’s balance sheet, income statement, and cash flow statement, we have arrived at an intrinsic value of around $1.2 per share for CANGO INC. This value was determined through our proprietary Valuation Line. This presents an excellent opportunity for investors to purchase and capitalize on the long-term potential of CANGO INC. More…
Peers
The competitive landscape in the automotive industry is fierce, with a number of major players vying for market share. Cango Inc is no exception, as it faces stiff competition from Chinese giant China Grand Automotive Services Group Co Ltd, BetterLife Holding Ltd, and Brilliance China Automotive Holdings Ltd. All of these companies are striving to gain an edge in this highly competitive industry, as they all strive to be the leader in the marketplace.
– China Grand Automotive Services Group Co Ltd ($SHSE:600297)
Grand Automotive Services Group Co Ltd is a leading automotive services company that provides a wide range of vehicle maintenance and repair services. The company has a large market cap of 17.68B as of 2023, reflecting its strong financial performance and customer base. The company also has a Return on Equity (ROE) of 7.32%, which demonstrates its ability to generate profits from its investments. Grand Automotive Services Group Co Ltd prides itself on offering a customer-focused approach to the automotive industry, providing reliable, convenient and cost-effective services for its customers.
– BetterLife Holding Ltd ($SEHK:06909)
BetterLife Holding Ltd is a leading provider of integrated healthcare services. The company offers a wide range of services including primary care, specialist care, diagnostic services, outpatient care and digital health solutions. As of 2023, BetterLife Holding Ltd has a market capitalization of 1.81 billion dollars, reflecting a high degree of investor confidence in the company. In addition, the company has recorded a strong Return on Equity (ROE) of 16.17%, which further demonstrates its ability to generate profits from its activities and its underlying financial strength. This is evidenced by the company’s impressive growth rate and strategic investments in new technology and services.
– Brilliance China Automotive Holdings Ltd ($SEHK:01114)
Brilliance China Automotive Holdings Ltd is a leading automotive company in China, specializing in the production and sale of both light and heavy motor vehicles. It has a market cap of 18.72B as of 2023, making it one of the largest automotive companies in the country. The company has strong performance, with a Return on Equity (ROE) of 5.47%, which is higher than the industry average. This indicates a healthy capital structure and a high rate of return on investments. Brilliance China Automotive Holdings Ltd has consistently delivered exceptional products, services and customer satisfaction, allowing it to maintain its stature as one of the top automotive companies in China.
Summary
Cango Inc reported its earnings results for the third quarter of FY2023, with total revenue of CNY 353.6 million and net income of CNY -49.1 million. Analysts are encouraged by the improvement in earnings, but remain cautious due to the overall decrease in revenue. Potential investors should consider Cango’s performance relative to its competitors, as well as its long-term growth prospects, before investing.
