undamentalytics Newsletter
Sign in

Kandi Technologies Group, Inc. (KNDI) stock

Add to watchlist

Add holding +

NASDAQ: KNDI Nasdaq Automobile Manufacturers

C Fundamentals grade

Kandi Technologies Group, Inc. is a US-listed company in the automobile manufacturers industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$4.0

Revenue-to-maturity cash-flow model

Base case. Range ~$4.0–$4.5 across our lower- and higher-growth cases (0%–5% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Kandi Technologies Group, Inc. 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.

  • Funds9 adding, 13 cuttingOf 3 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Kandi Technologies Group files

Where Kandi Technologies stands after its latest Filing

Revenue for the twelve months was $87m. That puts it 21 of 23 for growth among the automobile manufacturers companies we cover. Free-cash-flow margin held at 110.2%. The diluted share count is down 3.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $3.95 a share, against a share price of $3.53.

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

Kandi Technologies Group, Inc.'s trailing-twelve-month revenue fell 31.5% year on year, with a free-cash-flow margin of 110.2%. Where it stands out: free-cash-flow margin of 110.2% ranks 1 of 22 automobile manufacturers companies we cover. Where it lags: revenue growth of -31.5% ranks 21 of 23 automobile manufacturers companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -31.5% (-34.7pp vs the prior quarter), the 2nd consecutive quarterly slowdown.

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

  • Strong cash generation. 110.2% of revenue turned into free cash flow, against a median of 2.4% for automobile manufacturers companies we cover.
  • Shrinking share count. Diluted shares fell 3.1% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Revenue shrinking. Revenue fell 31.5% over the last 12 months.
  • Growth slowing. The growth rate is 34.7 points lower than a quarter earlier.
  • Loss-making. Operating margin is -65.4%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 11.5 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 78% and a beta of 1.3 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 94 days ranks 14 of 16 automobile manufacturers companies we cover (median 34 days).

Price chart

  • 1 day-6.2%
  • 1 week-5.4%
  • 1 month-59.6%
  • This year-58.1%
  • 1 year-71.2%
  • 5 years-92.9%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$87.4M
Operating margin
-65.4%
Net margin
-107.4%
EPS (TTM, diluted)
$-1.12

Growth

Revenue growth
−31.5%
Change in growth rate
−34.7 pts
Share count change
−3.1%

Cash

Free cash flow (TTM)
$96.4M
FCF margin
110.2%
Stock pay % of revenue
8.1%

News & updates

Updated October 31, 2026

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

No recent updates are available for KNDI 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

Kandi Technologies Group, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Kandi Technologies Group, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$4.0 ~$4.0–$4.5 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.3 ~$0.3–$0.9 Left out: out of range vs price (0.08x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$4.0 ~$4.0–$4.5 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Kandi Technologies Group, Inc. with Automobile Manufacturers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2022202320242025
Share price$23.00$28.00$12.00$7.90
Market value$1.7bn$2.2bn$1.0bn$661m
+ Net debt (− = net cash)−$84m−$1m$10m$1m
Enterprise value$1.7bn$2.2bn$1.0bn$662m
Multiples
Price / sales 14.8x18.1x8.1x7.6x
Price / earnings —n/m——
Price / free cash flow 62.5x——6.9x
EV / EBITDA ————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

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 Kandi Technologies Group, Inc.: too few analysts cover it.

Positioning

Short interest
1.4%
of tradable shares
Days to cover
0.26
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
1%
of shares
Held by insiders
14.4%
of shares
Employees
595
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

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
KNDI−54%−28%+22%−57%−34%−58%
Industry peers (median)+26%−65%+7%−33%−50%−44%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KNDI17%25%50%25%33%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KNDI−67%−46%−38%−70%−54%−71%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 98% from November 23, 2020 to October 22, 2026. Getting back needed a 4411% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.31 – $11.30
From 52-week high
−70.7%
vs 50-day average
−40.9%
vs 200-day average
−55.5%
Volatility (1 year)
78%
Beta vs S&P 500
1.33

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.

Kandi Technologies Group, Inc. in five measures

Fundamentals grade C
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) Kandi Technologies Group, Inc.
$80M $100M $120M $140M FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY22 Q4: $117.8M Revenue (TTM), FY23 Q4: $123.6M Revenue (TTM), FY24 Q4: $127.6M Revenue (TTM), FY25 Q4: $87.4M $87.4M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY22 Q4 $117.8M
FY23 Q4 $123.6M
FY24 Q4 $127.6M
FY25 Q4 $87.4M
Operating margin (TTM) Kandi Technologies Group, Inc.
-80% -60% -40% -20% 0% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY22 Q4: -23.5% Operating margin (TTM), FY23 Q4: -10.6% Operating margin (TTM), FY24 Q4: -53.9% Operating margin (TTM), FY25 Q4: -65.4% -65.4%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY22 Q4 -23.5%
FY23 Q4 -10.6%
FY24 Q4 -53.9%
FY25 Q4 -65.4%
FCF margin (TTM) Kandi Technologies Group, Inc.
-100% 0% 100% 200% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY22 Q4: 23.6% FCF margin (TTM), FY23 Q4: -92.5% FCF margin (TTM), FY24 Q4: -14.7% FCF margin (TTM), FY25 Q4: 110.2% 110.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY22 Q4 23.6%
FY23 Q4 -92.5%
FY24 Q4 -14.7%
FY25 Q4 110.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. 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 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 118 124 128 87
Gross profit 20 41 39 37
EBITDA −15 −1 −57 −51
Operating income −28 −13 −69 −57
Net income −12 0 −50 −94
Diluted EPS −$0.17 $0.02 −$0.59 −$1.14
Growth (year on year)
Revenue — +4.9% +3.2% −31.5%
Margins
Gross margin 16.6% 33.5% 30.8% 42.6%
EBITDA margin −12.9% −0.9% −44.5% −58.9%
Operating margin −23.5% −10.6% −53.9% −65.4%
Net margin −10.3% 0.0% −39.6% −107.4%
Free-cash-flow margin 23.6% −92.5% −14.7% 110.2%
Cash flow
Cash from operations 31 −101 −18 97
Capital spending 4 13 1 0
Free cash flow 28 −114 −19 96
Stock-based pay 2 11 7 7
Free cash flow after stock pay 26 −125 −26 89
Balance sheet
Cash 84 34 37 36
Total debt 0 32 48 37
Net debt (negative = net cash) −84 −1 10 1
Diluted shares 76m 80m 86m 84m
Returned to shareholders
Buybacks 7 1 4 —
Total returned 7 1 4 —

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

4 of 6 checks passed · December 31, 2025
What it owns · $400m
Short-term assets $301mLonger-term assets $99m
What it owes, and who funded it · $400m
Short-term liabilities $128mLonger-term liabilities $1mShareholders' equity $270m
  • Short-term assets cover short-term liabilities $301m of assets due within a year against $128m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $301m short-term assets against $1m of longer-dated liabilities.
  • More cash than debt $36m of cash against $37m of debt.
  • Debt below 40% of shareholders' equity Debt is 14% 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 $97m of operating cash flow against $37m of debt.
  • Operating profit covers interest at least five times over Operating income of −$57m against $2m of interest.

From Kandi Technologies Group, Inc.'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

FY2024 Q4 TTM
Buybacks (TTM)
$3.9M
Returned to shareholders
-21%
of free cash flow
Buybacks, last 3 fiscal years
$11.9M
Diluted share count
−3.1%
year over year
Total shareholder yield
1.4%
dividends 0.0% + buybacks 1.4% of market value
R&D spending
8.7%
of revenue
Days sales outstanding
94 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in automobile manufacturers
Last 12 months unless stated KNDI XOS GGR EZGO FLYE LOT Median
Revenue, last 12 months $87m $38m $281m $20m $16m $519m $6.5bn
Revenue growth, last 12 months −31.5% −26.9% −9.4% 12.4% −28.0% −43.8% 1.7%
Revenue growth, latest quarter — −74.2% — — −48.4% — −2.0%
Gross margin 42.6% 12.7% 8.2% 6.5% 16.4% 8.7% 13.3%
Operating margin −65.4% −77.9% −26.0% −16.4% −51.4% −81.5% −16.2%
Operating margin, 3-year average — −76.3% — — −23.4% — 0.0%
Net margin −107.4% −51.6% −28.4% −42.4% −67.9% −89.4% −14.5%
Cash from operations / revenue 110.7% 3.3% 12.8% −10.8% −53.1% −64.3% 3.4%
Free-cash-flow margin 110.2% 3.2% −10.3% −20.9% −52.7% −79.6% 2.1%
Free-cash-flow margin, 3-year average — −30.6% — — −37.7% — 4.0%
Stock pay / revenue 8.1% 22.3% 1.4% 0.7% — 0.4% 1.1%
Change in share count −3.1% 39.7% 11.4% 117.1% — 0.5% 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 -31.5% 1.7% 21 of 23
Change in growth rate Growth -34.7pp -2.1pp 20 of 23
Gross margin Profitability 42.6% 13.0% 3 of 21
Operating margin Profitability -65.4% -16.0% 17 of 22
Net margin Profitability -107.4% -14.5% 21 of 23
Free-cash-flow margin Cash generation 110.2% 2.4% 1 of 22
Stock pay as % of revenue Cash generation 8.1% 1.1% 11 of 15
Long-term debt as % of assets Balance sheet 1.5% 16.3% 2 of 18
Change in share count Balance sheet -3.1% 0.5% 3 of 21
Days sales outstanding Balance sheet 94 days 34 days 14 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
$493,227
Institutions reporting
30
Shares held vs prior quarter
▼ 2.9%
Positions opened / closed
6 / 4

Top buyers and sellers, Q2 2026: 9 institutions bought and 13 sold ; the biggest buyer was Xtx Topco Ltd (+53K shares) and the biggest seller Susquehanna International Group, LLP (−69K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Empowered Funds, LLC $70,909 99K 14.4% 0.0%
Bridgeway Capital Management, LLC $70,909 99K 14.4% 0.0%
Susquehanna International Group, LLP $67,242 94K 13.6% ▼ 42.4%
Citadel Advisors LLC $46,822 66K 9.5% ▼ 14.3%
UBS Group AG $40,488 57K 8.2% ▲ 1236.5%
Xtx Topco Ltd $37,717 53K 7.6% New
Geode Capital Management, LLC $32,473 45K 6.6% ▼ 8.4%
Renaissance Technologies LLC $25,775 36K 5.2% ▼ 46.7%
Squarepoint Ops LLC $20,717 29K 4.2% ▲ 28.0%
Impact Partnership Wealth, LLC $18,375 26K 3.7% 0.0%
Kestra Private Wealth Services, LLC $11,424 16K 2.3% 0.0%
Beacon Harbor Wealth Advisors, Inc. $9,240 14K 1.9% 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 Kandi Technologies Group, Inc.'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

Recent SEC filings

Data status

When each part of this page on Kandi Technologies Group, Inc. 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.

Kandi Technologies Group, Inc. in brief

What does Kandi Technologies Group, Inc. do?
Kandi Technologies Group, Inc. is a US-listed company in the automobile manufacturers industry. Its financial year ends in December.
What is Kandi Technologies Group, Inc.'s stock ticker?
Kandi Technologies Group, Inc. trades under the ticker KNDI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Kandi Technologies Group, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Kandi Technologies Group, Inc. reported revenue of $87.4M, 31.5% lower than a year earlier, according to its SEC filings.
What is Kandi Technologies Group, Inc.'s free cash flow?
Kandi Technologies Group, Inc.'s free-cash-flow margin is 110.2% of revenue over the trailing twelve months, ranking 1 of the 22 automobile manufacturers companies we cover.
Who are Kandi Technologies Group, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Empowered Funds, LLC, Bridgeway Capital Management, LLC and Susquehanna International Group, LLP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Kandi Technologies Group, Inc. buying back stock, and does it pay a dividend?
Kandi Technologies Group, Inc. spent $3.9M on share repurchases over the trailing twelve months, and its diluted share count fell 3.1% over the year.
What is Kandi Technologies Group, Inc.'s market cap?
On December 31, 2025, Kandi Technologies Group, Inc.'s market capitalisation was about $661M and net debt of $1.3M. Market figures come from third-party market data and may be delayed.
How much debt does Kandi Technologies Group, Inc. have?
Kandi Technologies Group, Inc.'s debt-to-equity ratio is 13.6%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Kandi Technologies Group, Inc.'s competitors?
In our Automobile Manufacturers peer group, the companies closest to Kandi Technologies Group, Inc. are Xos, Inc., Gogoro Inc., Ezgo Technologies Ltd., Fly-e Group, Inc. and Lotus Technology Inc. The side-by-side comparison below sets their revenue, margins and growth against Kandi Technologies Group, Inc.'s.