One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
U Power Limited
UCAR · NCM · Consumer Cyclical · Auto & Truck Dealerships
Current price
$2.95
52-week range
$2.34 - $438.00
Market cap
$5.24M
Balance sheet
Distressed
-309.93x Concerning
Net debt $31.05K. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
U Power Limited
U Power Limited makes and sells electric vehicles and stations where you can quickly swap out a depleted battery for a charged one, mainly in China. Their main income comes from selling these cars and also from offering battery swapping services, which is important because it makes owning an electric vehicle more convenient and can lead to consistent income for the company over time, like a subscription. This business model helps them build a connected network of cars and charging points, which is sometimes called an ecosystem.
How the company got here
U Power Limited was founded in 2013 and has become a pioneer in the new energy vehicle sector, particularly focusing on battery-swapping technology. The company initially started by sourcing vehicles and acting as a broker between wholesalers and buyers, especially in smaller Chinese cities. A key turning point was the development of its proprietary UOTTA™ Intelligent battery-swapping technology, which aims to solve charging and battery performance issues for electric vehicles. This innovation has positioned U Power to expand beyond just vehicle sales into a broader energy solutions provider. The company went public on NASDAQ in 2013, marking a significant step in its growth and ambition to be a leader in the electric vehicle and clean energy space.
What it actually does
U Power Limited develops, manufactures, and sells new energy vehicles and battery swapping stations. They also offer services related to battery swapping, such as sourcing and technical consultation. The company's core innovation is its UOTTA™ technology, which allows for quick battery replacements in electric vehicles, addressing concerns about charging time and battery life. This technology is applied across various types of vehicles, from two-wheeled vehicles to heavy-duty trucks, aiming to make electric transportation more efficient and economical.
Battery Swapping Stations
This is U Power's most significant business segment, generating the majority of its revenue. The company designs and manufactures various types of battery swapping stations, including those for passenger cars, taxis, buses, heavy trucks, and even two- and three-wheeled vehicles. These stations are equipped with UOTTA™ technology, enabling rapid battery exchanges. Customers pay for the use of these stations and the battery swapping service, which is presented as a more efficient and cost-effective alternative to traditional refueling and charging methods for electric vehicles.
New Energy Vehicles
U Power is involved in the development and sale of new energy vehicles (NEVs). This includes modifying existing vehicles and customizing new ones to integrate their battery-swapping technology. While the company started with vehicle sourcing, its focus has shifted towards providing a complete ecosystem for electric mobility, where their vehicles are designed to work seamlessly with their battery swapping infrastructure. This segment aims to provide customers with vehicles that are not only electric but also benefit from the convenience and cost savings offered by the UOTTA™ system.
Technical and Consultation Services
Beyond manufacturing and selling products, U Power offers technical and consultation services related to battery swapping and new energy vehicles. This segment leverages the company's expertise in developing and implementing its UOTTA™ technology and battery swapping solutions. They provide guidance and support to clients looking to adopt electric vehicles and battery swapping infrastructure, helping them navigate the complexities of transitioning to cleaner energy transportation.
What management is betting on now
U Power's management is focused on evolving the company into an AI-driven smart power ecosystem builder. They are expanding beyond their initial focus on battery swapping for electric vehicles to include broader clean energy solutions, such as hydrogen power for data centers and next-generation transportation. This strategic shift involves integrating artificial intelligence and blockchain technology to create a more comprehensive energy network. The company is investing in developing reliable, cost-effective, and sustainable energy solutions to meet the growing demands of digital industries and electrified transportation.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-10.03M
FY2025 Q4
$-10.01M
Revenue
$5.85M
Net income
$-9.78M
Diluted EPS
-2.14
Operating cash flow
$-9.94M
Free cash flow
$-10.01M
Fetching…
Sources
Revenue
$6.07M
Net income
$-6.57M
Diluted EPS
-2.30
Operating cash flow
$-10.03M
Free cash flow
$-10.03M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $2.95
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $31,053. Interest coverage -309.9x.
Net debt
$31.05K
Interest coverage
-309.93x
U Power Limited's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
UCAR
BASELINE
U Power Limited
Total debt $3.71M Interest coverage -309.93x This is the baseline the peer rows are being compared against.
Total debt $500.23K Interest coverage -12.41x Neither company has much profit cushion over interest right now.
Total debt $105.00K Interest coverage -4,513.14x Neither company has much profit cushion over interest right now.
Total debt $14.50M Interest coverage -38.55x Neither company has much profit cushion over interest right now.
Total debt $671.25M Interest coverage -0.24x Neither company has much profit cushion over interest right now.
What you should know
The case for and against UCAR
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -26.4% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
—
P/B
0.00x
P/S
0.13x
EV/EBITDA
-0.32x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
36.3%
Operating margin
-174.4%
Net margin
-167.1%
ROE
-26.4%
ROA
-9.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.09x
Current ratio
1.80x
Quick ratio
1.23x
Total debt
$3.71M
Total cash
$3.68M
Growth
How the business has been compounding
Revenue TTM
$15.83M
Revenue 5Y CAGR
73.0%
EPS TTM
-418.56
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-31.05M
Free CF TTM
$-10.01M
FCF margin
-63.2%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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