Quhuo Ltd key statistics and ratios

In fiscal 2025, Quhuo Ltd had return on equity of -36.4%, an operating margin of -7.0%, debt equal to 32.0% of equity and a current ratio of 1.03. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Quhuo Ltd: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	7.9%	7.9%	7.5%	4.4%	6.6%	4.5%	2.4%	0.5%
Operating margin	−3.5%	−0.6%	−0.8%	−3.5%	0.9%	−0.2%	−0.3%	−7.0%
Net margin	−2.9%	−0.6%	0.1%	−3.9%	−0.3%	0.1%	0.1%	−5.9%
Free-cash-flow margin	1.1%	−0.0%	0.3%	−1.0%	1.8%	−2.6%	−0.5%	−1.6%
Return on equity	—	—	—	−30.8%	−2.7%	0.7%	0.6%	−36.4%
Return on assets	—	−1.6%	0.4%	−13.9%	−1.2%	0.3%	0.3%	−17.9%
Asset turnover	—	2.79	2.67	3.54	3.42	3.51	3.21	3.02
Current ratio	—	1.15	1.58	1.26	1.47	1.52	1.40	1.03
Debt to equity	—	—	15.6%	32.5%	13.3%	19.8%	25.3%	32.0%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	6.3x	n/m	n/m	n/m
Effective tax rate	—	—	—	—	—	−18.2%	—	—
R&D as % of revenue	0.5%	0.5%	0.5%	0.5%	0.3%	0.3%	0.4%	0.3%
Capital spending as % of revenue	0.3%	0.9%	0.1%	0.2%	0.1%	0.0%	0.0%	0.1%
Free cash flow ÷ net income	—	—	224.5%	—	—	<−999%	−579.0%	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · December 31, 2025

What it owns · $114m

Short-term assets $58mLonger-term assets $56m

What it owes, and who funded it · $115m

Short-term liabilities $56mLonger-term liabilities $8mShareholders' equity $51m

Short-term assets cover short-term liabilities $58m of assets due within a year against $56m of liabilities due within a year.
Short-term assets cover long-term liabilities $58m short-term assets against $8m of longer-dated liabilities.
More cash than debt $5m of cash against $16m of debt.
Debt below 40% of shareholders' equity Debt is 32% of equity.
Debt burden no higher than five years ago Debt to equity moved from 1% to 32% over five years.
A year's operating cash flow covers at least 20% of debt −$5m of operating cash flow against $16m of debt.
Operating profit covers interest at least five times over Operating income of −$25m against $583,861 of interest.

From Quhuo 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.

Moat

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

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

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Figures from Quhuo Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Quhuo Ltd.