China Automotive Systems vs Commercial Vehicle Group
China Automotive Systems is the larger business, with $766m of revenue in fiscal 2025 against $649m for Commercial Vehicle Group (1.2 times as much). China Automotive Systems grew faster (17.6% against -10.3%). China Automotive Systems kept more of each dollar of sales as profit: a net margin of 5.6% against -3.5%. China Automotive Systems carries less debt relative to equity (21.7% against 79.8%).
| Latest fiscal year | China Automotive SystemsCAAS, 2025 | Commercial Vehicle GroupCVGI, 2025 |
|---|---|---|
| Revenue | $766m | $649m |
| Revenue growth | 17.6% | -10.3% |
| Net income | $42.8m | −$22.8m |
| Operating margin | 7.0% | -0.1% |
| Net margin | 5.6% | -3.5% |
| Return on equity | 11.4% | -16.9% |
| Free cash flow | $74.4m | $34.0m |
| Cash | $142m | — |
| Total debt | $87.0m | $106m |
| Debt to equity | 21.7% | 79.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 6,500 |
| Market value | $127m | $129m |
| Price vs our value range | — | — |
| Moat score | — | 25 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |