Cango Inc. - Understand $cang stock

$CANG Market Cap: $443.3 Million

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Financial Snapshot

Revenue

$1.572B

TTM

Gross Margin

11.37%

TTM

Net Earnings

$65.94M

TTM

Current Assets

$547.1M

Q4 2023

Current Liabilities

$109.5M

Q4 2023

Current Ratio

499.4%

Q4 2023

Total Assets

$654.7M

Q4 2023

Total Liabilities

$117.1M

Q4 2023

Book Value

$537.6M

Q4 2023

Cash

$143.7M

Q4 2023

P/E

6.723

Nov 29, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$239.7M	$1.980B	$3.922B	$2.052B	$1.440B	$1.091B	$1.052B	$434.3M
YoY Change	-87.9%	-49.5%	91.08%	42.52%	31.95%	3.73%	142.27%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$239.7M	$1.980B	$3.922B	$2.052B	$1.440B	$1.091B	$1.052B	$434.3M
Cost Of Revenue	$212.9M	$1.830B	$2.838B	$965.8M	$422.3M	$408.8M	$386.1M	$170.0M
Gross Profit	$26.77M	$150.4M	$1.083B	$1.087B	$1.018B	$682.6M	$666.1M	$264.2M
Gross Profit Margin	11.17%	7.59%	27.63%	52.94%	70.68%	62.54%	63.31%	60.83%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Selling, General & Admin	$27.59M	$751.7M	$838.6M	$703.5M	$602.8M	$359.5M	$215.6M	$74.10M
YoY Change	-96.33%	-10.37%	19.21%	16.71%	67.68%	66.74%	190.96%
% of Gross Profit	103.07%	499.91%	77.41%	64.74%	59.23%	52.67%	32.37%	28.05%
Research & Development	$4.241M	$45.96M	$70.28M	$62.60M	$57.40M	$46.70M	$19.40M	$5.000M
YoY Change	-90.77%	-34.6%	12.27%	9.06%	22.91%	140.72%	288.0%
% of Gross Profit	15.84%	30.57%	6.49%	5.76%	5.64%	6.84%	2.91%	1.89%
Depreciation & Amortization	$1.107M	$977.2K	$8.515M	$9.500M	$10.50M	$7.200M	$3.000M	$1.500M
YoY Change	13.29%	-88.52%	-10.37%	-9.52%	45.83%	140.0%	100.0%
% of Gross Profit	4.14%	0.65%	0.79%	0.87%	1.03%	1.05%	0.45%	0.57%
Operating Expenses	$31.83M	$797.6M	$908.9M	$766.0M	$660.2M	$406.3M	$235.0M	$79.20M
YoY Change	-96.01%	-12.24%	18.66%	16.03%	62.49%	72.89%	196.72%
Operating Profit	-$10.39M	-$647.3M	$174.5M	$320.6M	$357.6M	$276.3M	$431.1M	$185.0M
YoY Change	-98.4%	-470.93%	-45.57%	-10.35%	29.42%	-35.91%	133.03%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Interest Expense	$577.4K	$23.03M	$252.1K	$3.377B	$86.80M	$86.60M	-$17.40M	-$6.300M
YoY Change	-97.49%	9033.86%	-99.99%	3790.21%	0.23%	-597.7%	176.19%
% of Operating Profit			0.14%	1053.24%	24.27%	31.34%	-4.04%	-3.41%
Other Income/Expense, Net		$49.60M	$35.31M	$48.30M	$77.80M	$32.70M	$15.80M	$8.400M
YoY Change		40.49%	-26.9%	-37.92%	137.92%	106.96%	88.1%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Pretax Income	$7.829M	-$874.5M	$12.31M	$3.743B	$487.8M	$396.0M	$468.5M	$186.5M
YoY Change	-100.9%	-7205.06%	-99.67%	667.38%	23.18%	-15.47%	151.21%
Income Tax	$13.16M	$236.7M	$20.85M	$369.9M	$83.00M	$89.10M	$119.4M	$53.00M
% Of Pretax Income	168.14%		169.42%	9.88%	17.02%	22.5%	25.49%	28.42%
Net Earnings	-$5.334M	-$1.111B	-$8.544M	$3.370B	$390.9M	$302.7M	$341.0M	$128.9M
YoY Change	-99.52%	12905.18%	-100.25%	761.99%	29.14%	-11.23%	164.55%
Net Earnings / Revenue	-2.23%	-56.11%	-0.22%	164.17%	27.14%	27.74%	32.41%	29.68%
Basic Earnings Per Share
Diluted Earnings Per Share		-$8.11	-$29.47K	$11.09M	$1.289M	$1.078M	$1.068M	$403.8K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2022	2021	2020	2019	2018	2017	2016
Cash & Short-Term Investments	$2.320B	$4.034B	$5.769B	$2.600B	$3.179B	$866.0M	$151.0M
YoY Change	-42.48%	-30.08%	121.88%	-18.21%	267.09%	473.51%
Cash & Equivalents	$378.9M	$1.435B	$1.427B	$2.002B	$2.913B	$803.0M	$45.00M
Short-Term Investments	$1.941B	$2.599B	$4.342B	$597.0M	$266.0M	$62.00M	$106.0M
Other Short-Term Assets	$1.510B	$1.005B	$566.0M	$1.085B	$356.0M	$87.00M	$12.00M
YoY Change	50.13%	77.65%	-47.83%	204.78%	309.2%	625.0%
Inventory
Prepaid Expenses
Receivables	$767.2M	$2.530B	$524.0M	$177.0M	$92.00M	$86.00M	$0.00
Other Receivables	$873.3M	$38.75M	$2.039B	$1.679B	$1.128B	$69.00M	$139.0M
Total Short-Term Assets	$5.470B	$7.608B	$8.899B	$5.541B	$4.755B	$1.108B	$302.0M
YoY Change	-28.1%	-14.51%	60.6%	16.53%	329.15%	266.89%
Property, Plant & Equipment	$95.42M	$19.55M	$10.00M	$15.00M	$18.00M	$10.00M	$4.000M
YoY Change	388.17%	95.46%	-33.33%	-16.67%	80.0%	150.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments			$0.00	$548.0M	$294.0M	$357.0M	$257.0M
YoY Change			-100.0%	86.39%	-17.65%	38.91%
Other Assets	$820.0M	$1.600B	$1.311B	$983.0M	$806.0M	$393.0M	$64.00M
YoY Change	-48.76%	22.07%	33.37%	21.96%	105.09%	514.06%
Total Long-Term Assets	$1.546B	$3.339B	$3.247B	$3.196B	$2.546B	$889.0M	$413.0M
YoY Change	-53.7%	2.84%	1.6%	25.53%	186.39%	115.25%
Total Assets	$7.016B	$10.95B	$12.15B	$8.737B	$7.301B	$1.997B	$715.0M
YoY Change
Accounts Payable	$2.000M	$4.004M	$5.000M	$8.000M	$17.00M	$9.000M	$5.000M
YoY Change	-50.05%	-19.92%	-37.5%	-52.94%	88.89%	80.0%
Accrued Expenses	$900.7M	$81.04M	$118.0M	$142.0M	$102.0M	$140.0M	$53.00M
YoY Change	1011.53%	-31.32%	-16.9%	39.22%	-27.14%	164.15%
Deferred Revenue
YoY Change
Short-Term Debt	$349.3M	$703.6M	$356.0M	$1.440B	$660.0M	$0.00	$0.00
YoY Change	-50.35%	97.63%	-75.28%	118.18%
Long-Term Debt Due	$565.1M	$938.0M	$1.229B	$863.0M	$467.0M		$0.00
YoY Change	-39.75%	-23.68%	42.41%	84.8%
Total Short-Term Liabilities	$2.531B	$3.418B	$2.457B	$2.909B	$1.565B	$526.0M	$287.0M
YoY Change	-25.95%	39.1%	-15.54%	85.88%	197.53%	83.28%
Long-Term Debt	$75.87M	$486.4M	$978.0M	$302.0M	$473.0M	$175.0M	$190.0M
YoY Change	-84.4%	-50.27%	223.84%	-36.15%	170.29%	-7.89%
Other Long-Term Liabilities	$76.85M	$991.6K	$5.000M	$22.00M	$8.000M	$36.00M	$27.00M
YoY Change	7649.77%	-80.17%	-77.27%	175.0%	-77.78%	33.33%
Total Long-Term Liabilities	$152.7M	$487.4M	$983.0M	$324.0M	$481.0M	$211.0M	$217.0M
YoY Change	-68.66%	-50.42%	203.4%	-32.64%	127.96%	-2.76%
Total Liabilities	$2.694B	$3.957B	$3.771B	$3.259B	$2.049B	$763.0M	$519.0M
YoY Change	-31.9%	4.92%	15.71%	59.05%	168.55%	47.01%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021
Basic Shares Outstanding	243.0M	274.1M	289.9M
Diluted Shares Outstanding	243.0M	274.1M	289.9M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $443.3 Million

About Cango Inc.

Cango, Inc. is a holding company, which engages in the development and operation of automotive transaction service platform for connecting dealers, financial institutions, and car buyers. The company is headquartered in Shanghai, Shanghai and currently employs 632 full-time employees. The company went IPO on 2018-07-26. The Company’s services primarily consist of automotive financing facilitation, automotive transaction facilitation and after-market services facilitation. The company offers integrated solutions that support the life cycle of automotive financing transactions, including credit origination, credit assessment, credit servicing and delinquent asset management services. The company provides additional services, including car sourcing and logistics and warehousing support for dealers and facilitation of car purchases for car buyers. The Company’s also facilitates after-market services to car buyers, which is comprised of facilitating the sale of insurance policies from insurance brokers or companies. The products offered through its platform are personal accident insurances and automotive insurances.

Industry: Services-Prepackaged Software Peers: Baozun Inc. Jowell Global Ltd. LightInTheBox Holding Co., Ltd. Uxin Ltd Yunji Inc.