Tearsheet
Investment Highlights Market Valuation Price Chart Return vs. Risk About ECX Interactive Breakdown Better Bets vs. ECX Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

ECARX (ECX)

Market Price (10/31/2025): $2.34 | Market Cap: $799.8 Mil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

ECARX (ECX)

Market Price (10/31/2025): $2.34
Market Cap: $799.8 Mil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0  Weak multi-year price returns
2Y Excs Rtn is -106%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -114 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -15%
1   Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -10%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19%
3   High stock price volatility
Vol 12M is 106%
0 Weak multi-year price returns
2Y Excs Rtn is -106%
1 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -114 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -15%
2 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -10%
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19%
4 High stock price volatility
Vol 12M is 106%

Market Valuation & Key Metrics

ECXS&P 500
REVENUE GROWTH 
Rev LTM ($ Bil)0.8
Rev Chg Q-10.2%6.4%
Rev Chg LTM5.8%5.4%
Rev Chg 3Y Avg16.3%5.3%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.1
CFO LTM ($ Bil)�
Net Inc LTM ($ Bil)-0.1
Op Mgn LTM-14.7%18.7%
Net Inc Mgn-14.9%12.8%
VALUATIONLOW
P/S1.03.2
P/E-6.923.6
STABILITYGOOD
Debt/Equity0.490.21
Cash/Assets0.240.07

ECX Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The 77.6% change in ECX stock from 5/1/2025 to 10/30/2025 was primarily driven by a 86.7% change in the company's P/S Multiple.

501202510302025Change
Stock Price ($)1.342.3877.61%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)790.33772.63-2.24%
P/S Multiple0.561.0586.69%
Shares Outstanding (Mil)332.60341.77-2.76%
Cumulative Contribution77.48%

LTM = Last Twelve Months as of date shown
The 32.2% change in ECX stock from 10/30/2024 to 10/30/2025 was primarily driven by a 26.3% change in the company's P/S Multiple.

1030202410302025Change
Stock Price ($)1.802.3832.22%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)730.06772.635.83%
P/S Multiple0.831.0526.34%
Shares Outstanding (Mil)337.97341.77-1.12%
Cumulative Contribution32.21%

LTM = Last Twelve Months as of date shown
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Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
ECX Return----60%-33%13%-71%
Peers Return23%0%-4%14%-27%-22%-23%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
ECX Win Rate-- 33%50%56% 
Peers Win Rate37%30%27%30%38%47% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
ECX Max Drawdown----75%-69%-61% 
Peers Max Drawdown-39%-9%-23%-7%-40%-50% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: PATK, VC, CVGI, CREV, INEO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

Unique KeyEventECXS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-81.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven437.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to PATK, VC, CVGI, CREV, INEO


In The Past

ECARX's stock fell -81.4% during the 2022 Inflation Shock from a high on 12/21/2022. A -81.4% loss requires a 437.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About ECARX (ECX)

Better Bets than ECARX (ECX)

 ECXBetter Performance than ECX
MetricValueIndustry (Automotive Parts & Equipment)
Rev Chg LTM5.8%MBLY (7.6%), MOD (8.1%), DORM (7.9%), PATK (6.1%), MVST (20.8%)
Op Mgn LTM-14.7%APTV (10.6%), MGA (4.8%), BWA (9.2%), ALV (10.6%), MOD (11.7%)
Total Yield-14.2%APTV (5.7%), MGA (14.0%), MBLY (-3.2%), BWA (3.5%), QS (-4.8%)
 ECXBetter Performance than ECX
MetricValueAll Other Sectors
Rev Chg LTM5.8%NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AVGO (28.0%)
Op Mgn LTM-14.7%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AVGO (39.0%)
Total Yield-14.2%NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AVGO (1.1%)
 Best Bets In Consumer Discretionary Sector
 ECXABNB BKNG MCD ETSY LOPE PRDO ALSN CROX GRMN WH
What You Pay           
P/E-7.129.632.625.733.824.515.39.219.526.316.5
P/EBIT-8.429.819.617.914.919.111.26.917.023.39.7
What You Get           
Rev Chg Q-10.2%12.7%12.7%5.4%2.4%8.8%26.6%-0.2%3.4%11.7%-3.5%
Rev Chg LTM5.8%10.2%13.0%1.2%2.0%6.5%6.3%2.7%2.0%16.6%3.4%
Rev Chg 3Y Avg�16.3%17.8%3.4%4.9%5.8%1.7%8.0%14.5%12.2%-2.5%
FCF/Rev 3Y Avg�40.5%35.6%27.2%23.8%22.6%21.0%20.9%19.8%20.5%19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

TitleTopic
0DASHBOARDS 
1ECARX Stock Up 5.7%, Buy Or Wait?Return

Trade Ideas

Select past ideas related to ECX. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-14.4%-14.4%-22.1%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-17.3%-17.3%-17.3%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-11.9%-11.9%-11.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-0.0%-0.0%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		4.5%4.5%-11.7%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-14.4%-14.4%-22.1%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-17.3%-17.3%-17.3%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-11.9%-11.9%-11.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-0.0%-0.0%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		4.5%4.5%-11.7%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for ECARX

Financials

ECXPATKVCCVGICREVINEOMedian
NameECARX Patrick .Visteon Commerci.Carbon R.INNEOVA  
Mkt Price2.38100.83105.351.514.820.763.60
Mkt Cap0.83.32.90.1--1.8
Rev LTM7733,8173,759677--2,266
Op Inc LTM-114266341-4--131
FCF LTM-234366-22--234
FCF 3Y Avg-34125819--258
CFO LTM-344495-10--344
CFO 3Y Avg-42138437--384

Growth & Margins

ECXPATKVCCVGICREVINEOMedian
NameECARX Patrick .Visteon Commerci.Carbon R.INNEOVA  
Rev Chg LTM5.8%6.1%-4.0%-13.8%--0.9%
Rev Chg 3Y Avg--8.0%3.0%-11.0%---8.0%
Rev Chg Q-10.2%3.0%-6.4%-11.2%---8.3%
QoQ Delta Rev Chg LTM-2.2%0.8%-1.6%-3.1%---1.9%
Op Mgn LTM-14.7%7.0%9.1%-0.6%--3.2%
Op Mgn 3Y Avg-22.5%7.4%7.9%2.3%--4.8%
QoQ Delta Op Mgn LTM-1.5%-0.0%0.1%-0.1%---0.0%
CFO/Rev LTM-9.0%13.2%-1.4%--9.0%
CFO/Rev 3Y Avg-11.2%9.9%4.6%--9.9%
FCF/Rev LTM-6.1%9.7%-3.3%--6.1%
FCF/Rev 3Y Avg-9.0%6.7%2.2%--6.7%

Valuation

ECXPATKVCCVGICREVINEOMedian
NameECARX Patrick .Visteon Commerci.Carbon R.INNEOVA  
Mkt Cap0.83.32.90.1--1.8
P/S1.10.90.80.1--0.8
P/EBIT-8.413.67.8-18.0---0.3
P/E-7.126.09.3-1.3--4.0
P/CFO-9.55.8-5.3--5.8
Total Yield-14.2%5.4%10.7%-75.0%---4.4%
Dividend Yield0.0%1.6%0.0%0.0%--0.0%
FCF Yield 3Y Avg-16.1%8.0%-4.2%--8.0%
D/E0.50.40.22.6--0.5
Net D/E0.30.4-0.11.7--0.4

Returns

ECXPATKVCCVGICREVINEOMedian
NameECARX Patrick .Visteon Commerci.Carbon R.INNEOVA  
1M Rtn18.4%-2.5%-12.1%-11.2%16.7%-26.5%-6.8%
3M Rtn40.8%4.1%-5.0%-10.7%26.5%-24.0%-0.5%
6M Rtn77.6%24.6%33.0%61.1%45.6%-41.2%39.3%
12M Rtn32.2%14.8%12.0%-49.8%38.9%-81.3%13.4%
3Y Rtn-252.3%-19.1%-70.0%---19.1%
1M Excs Rtn12.8%-3.7%-14.6%-15.4%14.1%-26.0%-9.2%
3M Excs Rtn38.9%-6.2%-13.8%-19.5%22.0%-27.5%-10.0%
6M Excs Rtn55.9%2.9%11.3%39.3%23.9%-63.0%17.6%
12M Excs Rtn13.6%-3.8%-7.0%-69.8%17.5%-103.4%-5.4%
3Y Excs Rtn-175.6%-93.9%-143.1%---93.9%

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/26/20254/30/20253/26/202511/7/20249/30/20245/20/20244/3/202411/9/20238/9/20236/12/20234/24/202311/9/2023
Key Financials Quarterly            
Total Revenue156168245203173132276149133111231101
Ebitda-38-228-44-39-40-46-36-23-29-108-35
Operating Income-40-25-5-44-32-36-44-33-23-31-104-32
Net Income-43-260-46-39-40-45-37-24-30-110-35
EPS-0.13-0.08-0.02-0.14-0.12-0.12-0.12-0.11-0.07-0.09-0.27-0.15
Key Financials TTM            
Total Revenue TTM773790754784730689669624576541533-
Ebitda TTM-97-97-115-169-161-145-135-196-195-211-226-
Operating Income TTM-114-105-116-156-145-136-131-190-189-217-234-
Net Income TTM-115-111-126-170-161-146-135-200-199-216-232-
Growth Rates Quarterly            
Total Revenue Growth-10.2%27.7%-11.0%36.2%30.8%18.5%19.4%47.7%35.0%7.8%--
EBITDA Growth1.6%44.4%117.0%-22.9%-65.4%-36.2%57.1%-4.2%40.7%34.4%--
Operating Income Growth-28.3%31.8%88.8%-33.4%-37.6%-16.1%57.5%-3.7%54.4%36.0%--
Net Income Growth-10.3%35.7%100.1%-26.9%-62.6%-35.4%59.4%-3.9%42.1%35.2%--
Margins Quarterly            
EBITDA Margin-24.5%-13.2%3.2%-21.8%-22.3%-30.2%-16.7%-24.2%-17.7%-26.3%-46.6%-34.3%
Operating Income Margin-26.0%-14.6%-2.0%-21.6%-18.2%-27.4%-16.0%-22.1%-17.3%-28.0%-44.9%-31.5%
Net Income Margin-27.6%-15.4%0.0%-22.8%-22.5%-30.6%-16.2%-24.5%-18.1%-26.7%-47.6%-34.8%
Cash & Debt            
Total Cash120134621101277510097117138125-
Total Debt3943832923393052542552582192292290
Net Debt / (Cash)27524923022917817915516110291104-
Cash Flows Quarterly            
FCF from Operations------------
Cash Flows TTM            
FCF from Operations TTM------------
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-14.2%-9.1%-1.9%-16.5%-12.9%-14.6%-18.0%-14.0%-10.4%-13.8%-45.7%-
Return on Invested Capital (ROIC) TTM            
ROIC TTM-10.0%-9.7%-11.3%-14.6%-14.8%-13.7%-13.5%-20.3%-21.5%-24.0%-25.8%-

Price Behavior

ECX Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta-2.200.13-0.970.500.63-0.36
Up Beta-6.290.01-2.880.04-0.08-0.64
Down Beta9.035.205.011.281.250.29
Up Capture34%-9%-127%74%75%9%
Bmk +ve Days13233574144420
Stock +ve Days13243463122329
Down Capture-823%-280%-310%-3%95%103%
Bmk -ve Days8192952107330
Stock -ve Days7172759117337

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity3,422,765
Short Interest: % Change Since 93020259.4%
Average Daily Volume1,750,955
Days-to-Cover Short Interest1.95
Basic Shares Quantity341,773,717
Short % of Basic Shares1.0%

Returns Analyses

SEC Filings

Expand for More

Report DateFiling DateFiling
630202582620256-K 6/30/2025
331202543020256-K 3/31/2025
12312024326202520-F 12/31/2024
9302024110720246-K 9/30/2024
630202493020246-K 6/30/2024
331202452020246-K 3/31/2024
12312023403202420-F 12/31/2023
9302023110920236-K 9/30/2023
630202380920236-K 6/30/2023
331202361220236-K 3/31/2023
12312022424202320-F 12/31/2022

Insider Activity

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External Quote Links


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