China Automotive Systems Inc
CAAS—
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China Automotive Systems Inc AI Insights
Informational only. Not investment advice.Snapshot
- P/E of 3.9x vs industry median 22.8x with P/B of 0.36x - trading at 83% discount to book value despite positive earnings[P/E Ratio]
- A/R of 298M is 41% of revenue TTM with A/P of 316M - extended payment terms signal customer/supplier power imbalance[Accounts Receivable]
- R&D spend of 35M (4.8% of revenue TTM) vs industry median 40M - investing in EV steering transition[Research and Development]
Watch Triggers
- Accounts Receivable: A/R days >150 or A/R/Revenue >45% — Collection deterioration would pressure cash and signal customer distress
- Gross Margin: Gross margin falls below 14% — Would indicate pricing power erosion in commoditizing auto parts market
- Research and Development: R&D drops below 4% of revenue — Signals retreat from EV transition investment, undermining growth thesis
Bull Case
Extreme valuation discount: EV/EBITDA implied ~1.5x, P/E 3.9x, P/B 0.36x with 139M cash (103% of market cap) provides downside floor
P/E RatioP/B RatioCash and Equivalents
Profitable niche player: ROE 9.2% TTM and ROIC 7% vs industry medians of 3.1% and 1% - generating real returns on capital
ROEROICNet Margin
Bear Case
Working capital trap: 298M A/R (41% of revenue) with 118M inventory signals collection risk and potential write-downs in cyclical downturn
Accounts ReceivableInventoryWorking Capital
China auto market exposure with 81M current debt due now and no dividend history - liquidity squeeze risk if receivables deteriorate
Current DebtCurrent LiabilitiesDividends Paid Per Share
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
EV steering system transition could drive margin expansion as legacy auto parts commoditize
1-3ylow
- R&D at 4.8% of revenue focused on EV applications
- Operating margin 6.8% TTM vs industry 3.9% median
- Gross profit grew 26.6% YoY despite revenue headwinds
Gross margin TTM 16.8% near industry median 19.3%EPS growth 3Y CAGR of 43.8%Net margin 4.6% TTM vs industry median 0.6%
Valuation Context
Caveats
CAAS Fundamentals
Manufacturing → Transportation Equipment Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$133.66M | — | ||
$201.04M | — | ||
3.1 | — | ||
$765.74M | +17.6% | — | |
$1.42 | +32.2% | — | |
7.77% | +0.8% | — | |
5.59% | +1.0% | — | |
$71.3M | — | ||
11.4% | +2.8% | — | |
Beta 5Y (Monthly) | unknown | — |
CAAS Dividend History
2 dividends
2024
$0.800007/30/24$0.8000
2014
$0.180006/24/14$0.1800
CAAS Stock Splits
No stock splits
CAAS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
04/22/26 | 12/31/25 | Unknown | |
11/12/25 | 09/30/25 | 6-K | |
08/13/25 | 06/30/25 | 10-Q | |
05/14/25 | 03/31/25 | 10-Q | |
03/28/25 | 12/31/24 | 10-K | |
11/13/24 | 09/30/24 | 10-Q | |
08/13/24 | 06/30/24 | 10-Q | |
05/14/24 | 03/31/24 | 10-Q | |
03/28/24 | 12/31/23 | 10-K | |
11/13/23 | 09/30/23 | 10-Q | |
08/11/23 | 06/30/23 | 10-Q | |
05/12/23 | 03/31/23 | 10-Q | |
03/30/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
08/12/22 | 06/30/22 | 10-Q | |
05/23/22 | 03/31/22 | 10-Q | |
03/30/22 | 12/31/21 | 10-K | |
11/12/21 | 09/30/21 | 10-Q | |
08/12/21 | 06/30/21 | 10-Q | |
05/12/21 | 03/31/21 | 10-Q | |
03/30/21 | 12/31/20 | 10-K | |
11/12/20 | 09/30/20 | 10-Q | |
08/14/20 | 06/30/20 | 10-Q | |
06/23/20 | 03/31/20 | 10-Q | |
05/14/20 | 12/31/19 | 10-K | |
11/12/19 | 09/30/19 | 10-Q | |
08/08/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
03/28/19 | 12/31/18 | 10-K | |
11/09/18 | 09/30/18 | 10-Q | |
08/09/18 | 06/30/18 | 10-Q | |
05/10/18 | 03/31/18 | 10-Q | |
03/29/18 | 12/31/17 | 10-K | |
11/09/17 | 09/30/17 | 10-Q | |
08/10/17 | 06/30/17 | 10-Q | |
05/11/17 | 03/31/17 | 10-Q | |
03/30/17 | 12/31/16 | 10-K | |
11/10/16 | 09/30/16 | 10-Q | |
08/11/16 | 06/30/16 | 10-Q | |
05/12/16 | 03/31/16 | 10-Q | |
03/30/16 | 12/31/15 | 10-K | |
11/12/15 | 09/30/15 | 10-Q | |
08/13/15 | 06/30/15 | 10-Q | |
05/14/15 | 03/31/15 | 10-Q | |
03/26/15 | 12/31/14 | 10-K | |
11/12/14 | 09/30/14 | 10-Q | |
08/13/14 | 06/30/14 | 10-Q | |
05/14/14 | 03/31/14 | 10-Q | |
03/31/14 | 12/31/13 | 10-K | |
11/13/13 | 09/30/13 | 10-Q | |
08/14/13 | 06/30/13 | 10-Q | |
05/14/13 | 03/31/13 | 10-Q | |
03/27/13 | 12/31/12 | 10-K | |
11/09/12 | 09/30/12 | 10-Q | |
08/09/12 | 06/30/12 | 10-Q | |
05/09/12 | 03/31/12 | 10-Q | |
03/09/12 | 12/31/11 | 10-K | |
11/08/11 | 09/30/11 | 10-Q | |
08/09/11 | 06/30/11 | 10-Q | |
07/22/11 | 03/31/11 | 10-Q | |
06/28/11 | 12/31/10 | 10-K | |
11/09/10 | 09/30/10 | 10-Q | |
08/09/10 | 06/30/10 | 10-Q | |
05/06/10 | 03/31/10 | 10-Q | |
03/25/10 | 12/31/09 | 10-K | |
11/12/09 | 09/30/09 | 10-Q | |
08/12/09 | 06/30/09 | 10-Q | |
05/12/09 | 03/31/09 | 10-Q | |
03/26/09 | 12/31/08 | 10-K | |
11/12/08 | 09/30/08 | 10-Q | |
08/12/08 | 06/30/08 | 10-Q | |
05/14/08 | 03/31/08 | 8-K | |
03/25/08 | 12/31/07 | 10-K | |
11/09/07 | 09/30/07 | 10-Q | |
08/13/07 | 06/30/07 | 10-Q | |
05/14/07 | 03/31/07 | 10-Q | |
04/02/07 | 12/31/06 | 10-K | |
11/13/06 | 09/30/06 | 10-Q | |
08/10/06 | 06/30/06 | 10-Q | |
05/10/06 | 03/31/06 | 10-Q | |
03/31/06 | 12/31/05 | 10-K | |
11/14/05 | 09/30/05 | 10-Q | |
08/09/05 | 06/30/05 | 10-Q | |
05/05/05 | 03/31/05 | 10-Q | |
12/31/04 | 12/31/04 | 10KSB | |
09/30/04 | 09/30/04 | Unknown | -- |
06/30/04 | 06/30/04 | 10QSB | |
03/31/04 | 03/31/04 | NT 10-Q | |
12/31/03 | 12/31/03 | NT 10-K | |
09/30/03 | 09/30/03 | 10QSB | |
06/30/03 | 06/30/03 | NT 10-Q | |
03/31/03 | 03/31/03 | NT 10-Q | |
12/31/02 | 12/31/02 | 10KSB | |
11/18/02 | 09/30/02 | 10QSB | |
08/14/02 | 06/30/02 | 10QSB | |
05/10/02 | 03/31/02 | 10QSB | |
03/01/02 | 12/31/01 | 10KSB40/A | |
11/21/01 | 09/30/01 | 10QSB |