ECARX Holdings

ECX

Auto - Parts · Consumer Cyclical

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

ECARX Holdings is a Chinese technology company that builds the "brains" inside cars — the software and computer chips that power digital dashboards, infotainment screens, and connected vehicle systems. Its main products are automotive computing platforms and operating software sold to automakers, primarily in China, with customers including Geely and Volvo's parent company. ECARX sits at the intersection of the auto parts and automotive software industries, where cars are becoming more like smartphones on wheels.

The company earns revenue by selling hardware modules and licensing software to car manufacturers, rather than selling directly to drivers. It operates mainly in China but has ambitions to expand into other markets, and its close ties to the Geely automotive group give it a reliable customer base and development resources. The key growth driver is the rapid rise of electric and smart vehicles in China, but the company is currently unprofitable, and heavy competition from both local rivals and global tech firms remains a serious risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+45.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+74.8% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

67.0%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$265M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

ECARX Holdings grew revenue 45% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

19.8%

Thin — 19.8% gross margin

Profit after running costs

Operating Margin

-2.8%

Losing money on operations — -2.8%

Return on the money invested

ROCE

-1.5%

Weak — -1.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-76.1%

Shrinking sales (-76.1% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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