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Ezgo Technologies Ltd. (EZGO) stock

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NASDAQ: EZGO Nasdaq Automobile Manufacturers

D Fundamentals grade

Ezgo Technologies Ltd. is a US-listed company in the automobile manufacturers industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Ezgo Technologies Ltd. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: share count (1m) is 0.04x the cover-page count (18m). We'll show the comparison once resolved.

Ezgo Technologies Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds2 adding, 0 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ezgo Technologies files

Where Ezgo Technologies stands after its latest Filing

Revenue for the twelve months was $20m, up 12.4% on a year earlier, slower than the 98.9% growth a quarter earlier. Free-cash-flow margin rose to -20.9% from -55.4% a year earlier. The diluted share count is up 117.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 3 of our 6 financial-health checks.

Our model value for Ezgo Technologies is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Ezgo Technologies Ltd.'s trailing-twelve-month revenue grew 12.4% year on year, with a free-cash-flow margin of -20.9%. Where it lags: change in growth rate of -86.4pp ranks 23 of 23 automobile manufacturers companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 70.3% while net income fell 19.3%: a 90pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Ezgo Technologies Ltd.'s latest figures clears our strength thresholds.

Things to watch

  • Growth slowing. The growth rate is 86.4 points lower than a quarter earlier.
  • Loss-making. Operating margin is -16.4%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 3.6 points on a year ago.
  • Burning cash. Free cash flow was -20.9% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 117.1% in a year.
  • Gross margin slipping. Gross margin is down 2.8 points on a year ago.

Price chart

  • 1 day-31.4%
  • 1 week-26.5%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$20.5M
Operating margin
-16.4%
Net margin
-42.4%
EPS (TTM, diluted)
$-38.40

Growth

Revenue growth
+12.4%
Change in growth rate
−86.4 pts
Share count change
+117.1%

Cash

Free cash flow (TTM)
-$4.3M
FCF margin
-20.9%
Stock pay % of revenue
0.7%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for EZGO from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ezgo Technologies Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: share count (1m) is 0.04x the cover-page count (18m): held for review.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Ezgo Technologies Ltd.: too few analysts cover it.

Positioning

Short interest
0.2%
of tradable shares
Days to cover
0.05
at average volume
Short interest, 1 month
+361%
to October 15, 2026
Held by institutions
0%
of shares
Held by insiders
0.0%
of shares
Employees
60
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Ezgo Technologies Ltd. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ezgo Technologies Ltd.
$0 $10M $20M $30M FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY18 Q4: $3.2M Revenue (TTM), FY19 Q4: $1.4M Revenue (TTM), FY20 Q4: $15.2M Revenue (TTM), FY21 Q4: $23.4M Revenue (TTM), FY22 Q4: $17.4M Revenue (TTM), FY23 Q4: $9.2M Revenue (TTM), FY24 Q4: $18.2M Revenue (TTM), FY25 Q4: $20.5M $20.5M

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY18 Q4 $3.2M
FY19 Q4 $1.4M
FY20 Q4 $15.2M
FY21 Q4 $23.4M
FY22 Q4 $17.4M
FY23 Q4 $9.2M
FY24 Q4 $18.2M
FY25 Q4 $20.5M
Revenue growth, TTM YoY Ezgo Technologies Ltd.
-500% 0% 500% 1000% 1500% FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY19 Q4: -57.0% Revenue growth, TTM YoY, FY20 Q4: 1011.7% Revenue growth, TTM YoY, FY21 Q4: 53.7% Revenue growth, TTM YoY, FY22 Q4: -25.8% Revenue growth, TTM YoY, FY23 Q4: -47.3% Revenue growth, TTM YoY, FY24 Q4: 98.9% Revenue growth, TTM YoY, FY25 Q4: 12.4% 12.4%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY19 Q4 -57.0%
FY20 Q4 1011.7%
FY21 Q4 53.7%
FY22 Q4 -25.8%
FY23 Q4 -47.3%
FY24 Q4 98.9%
FY25 Q4 12.4%
Operating margin (TTM) Ezgo Technologies Ltd.
-50% 0% 50% 100% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Operating margin (TTM), FY18 Q4: 33.2% Operating margin (TTM), FY19 Q4: 56.6% Operating margin (TTM), FY20 Q4: 0.5% Operating margin (TTM), FY21 Q4: -16.6% Operating margin (TTM), FY22 Q4: -37.2% Operating margin (TTM), FY23 Q4: -34.8% Operating margin (TTM), FY24 Q4: -12.8% Operating margin (TTM), FY25 Q4: -16.4% -16.4%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY18 Q4 33.2%
FY19 Q4 56.6%
FY20 Q4 0.5%
FY21 Q4 -16.6%
FY22 Q4 -37.2%
FY23 Q4 -34.8%
FY24 Q4 -12.8%
FY25 Q4 -16.4%
FCF margin (TTM) Ezgo Technologies Ltd.
-300% -200% -100% 0% 100% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY18 Q4: 28.5% FCF margin (TTM), FY19 Q4: -288.6% FCF margin (TTM), FY20 Q4: 11.0% FCF margin (TTM), FY21 Q4: -55.4% FCF margin (TTM), FY22 Q4: -60.9% FCF margin (TTM), FY23 Q4: -56.1% FCF margin (TTM), FY24 Q4: -79.2% FCF margin (TTM), FY25 Q4: -20.9% -20.9%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY18 Q4 28.5%
FY19 Q4 -288.6%
FY20 Q4 11.0%
FY21 Q4 -55.4%
FY22 Q4 -60.9%
FY23 Q4 -56.1%
FY24 Q4 -79.2%
FY25 Q4 -20.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Sept 2018 2019 Sept 2019 2020 Sept 2020 2021 Sept 2021 2022 Sept 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025
Income
Revenue 3 1 15 23 17 9 18 20
Gross profit 2 1 2 0 0 1 2 1
EBITDA 2 1 0 −3 −5 −3 −2 −3
Operating income 1 1 0 −4 −6 −3 −2 −3
Net income 1 2 0 −3 −6 −7 −7 −9
Diluted EPS $70.00 $230.00 $20.00 −$270.00 −$473.00 −$147.84 −$69.88 −$38.40
Growth (year on year)
Revenue — −57.0% +>999% +53.7% −25.8% −47.3% +98.9% +12.4%
EBITDA — −53.0% −79.8% — — — — —
Operating income — −26.8% −90.7% — — — — —
Net income — +245.8% −87.4% — — — — —
Diluted EPS — +228.6% −91.3% — — — — —
Margins
Gross margin 47.7% 82.0% 10.1% 1.6% 1.3% 11.3% 9.3% 6.5%
EBITDA margin 52.0% 56.8% 1.0% −14.5% −31.4% −29.8% −9.1% −13.1%
Operating margin 33.2% 56.6% 0.5% −16.6% −37.2% −34.8% −12.8% −16.4%
Net margin 19.9% 159.8% 1.8% −14.6% −37.2% −74.0% −40.0% −42.4%
Free-cash-flow margin 28.5% −288.6% 11.0% −55.4% −60.9% −56.1% −79.2% −20.9%
Cash flow
Cash from operations 1 −3 4 −6 −10 −2 −10 −2
Capital spending 0 1 2 7 0 3 4 2
Free cash flow 1 −4 2 −13 −11 −5 −14 −4
Stock-based pay — — — — 0 1 0 0
Free cash flow after stock pay — — — — −11 −6 −15 −4
Balance sheet
Cash 0 4 0 5 4 17 3 1
Total debt 0 0 0 — 3 5 13 11
Net debt (negative = net cash) −0 −4 −0 −5 −2 −12 10 11
Diluted shares — — 8m 11m — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · September 30, 2025
What it owns · $69m
Short-term assets $38mLonger-term assets $32m
What it owes, and who funded it · $67m
Short-term liabilities $12mLonger-term liabilities $6mShareholders' equity $48m
  • Short-term assets cover short-term liabilities $38m of assets due within a year against $12m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $38m short-term assets against $6m of longer-dated liabilities.
  • More cash than debt $517,338 of cash against $8m of debt.
  • Debt below 40% of shareholders' equity Debt is 17% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$2m of operating cash flow against $8m of debt.
  • Operating profit covers interest at least five times over Operating income of −$3m against $130,507 of interest.

From Ezgo Technologies Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+117.1%
year over year
R&D spending
4.7%
of revenue
Days sales outstanding
204 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in automobile manufacturers
Last 12 months unless stated EZGO FLYE XOS KNDI GGR AIIO Median
Revenue, last 12 months $20m $16m $38m $87m $281m $950000 $6.5bn
Revenue growth, last 12 months 12.4% −28.0% −26.9% −31.5% −9.4% −92.1% 1.7%
Revenue growth, latest quarter — −48.4% −74.2% — — — −2.0%
Gross margin 6.5% 16.4% 12.7% 42.6% 8.2% 62.5% 13.3%
Operating margin −16.4% −51.4% −77.9% −65.4% −26.0% <−999% −16.2%
Operating margin, 3-year average — −23.4% −76.3% — — — 0.0%
Net margin −42.4% −67.9% −51.6% −107.4% −28.4% <−999% −14.5%
Cash from operations / revenue −10.8% −53.1% 3.3% 110.7% 12.8% −533.3% 3.4%
Free-cash-flow margin −20.9% −52.7% 3.2% 110.2% −10.3% −533.3% 2.1%
Free-cash-flow margin, 3-year average — −37.7% −30.6% — — — 4.0%
Stock pay / revenue 0.7% — 22.3% 8.1% 1.4% >999% 1.1%
Change in share count 117.1% — 39.7% −3.1% 11.4% 8.1% 0.5%

Median of all 23 companies we cover in automobile manufacturers. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 automobile manufacturers companies
Measure Company Peer median Rank
Revenue growth Growth 12.4% 1.7% 6 of 23
Change in growth rate Growth -86.4pp -2.1pp 23 of 23
Gross margin Profitability 6.5% 13.0% 18 of 21
Operating margin Profitability -16.4% -16.0% 12 of 22
Net margin Profitability -42.4% -14.5% 15 of 23
Free-cash-flow margin Cash generation -20.9% 2.4% 16 of 22
Stock pay as % of revenue Cash generation 0.7% 1.1% 6 of 15
Long-term debt as % of assets Balance sheet 9.3% 16.3% 8 of 18
Change in share count Balance sheet 117.1% 0.5% 21 of 21
Days sales outstanding Balance sheet 204 days 34 days 16 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$18,661
Institutions reporting
2
Positions opened / closed
2 / 0

Top buyers and sellers, Q2 2026: 2 institutions bought and 0 sold ; the biggest buyer was Jane Street Group, LLC (+14K shares) . See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Jane Street Group, LLC $18,653 14K 100.0% —
Caitong International Asset Management Co., Ltd $8 0K 0.0% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ezgo Technologies Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Data status

When each part of this page on Ezgo Technologies Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ezgo Technologies Ltd. in brief

What does Ezgo Technologies Ltd. do?
Ezgo Technologies Ltd. is a US-listed company in the automobile manufacturers industry. Its financial year ends in September.
What is Ezgo Technologies Ltd.'s stock ticker?
Ezgo Technologies Ltd. trades under the ticker EZGO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ezgo Technologies Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ezgo Technologies Ltd. reported revenue of $20.5M, 12.4% higher than a year earlier, according to its SEC filings.
What is Ezgo Technologies Ltd.'s free cash flow?
Ezgo Technologies Ltd.'s free-cash-flow margin is -20.9% of revenue over the trailing twelve months, ranking 16 of the 22 automobile manufacturers companies we cover.
How much debt does Ezgo Technologies Ltd. have?
Ezgo Technologies Ltd.'s debt-to-equity ratio is 16.6%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Ezgo Technologies Ltd.'s competitors?
In our Automobile Manufacturers peer group, the companies closest to Ezgo Technologies Ltd. are Fly-e Group, Inc., Xos, Inc., Kandi Technologies Group, Inc., Gogoro Inc. and Robo.ai Inc. The side-by-side comparison below sets their revenue, margins and growth against Ezgo Technologies Ltd.'s.