Deep Value: cash covers more than 100% of the stock price

This company holds roughly $220M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Niu Technologies

NIU

Auto - Manufacturers · Consumer Cyclical

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Niu Technologies makes electric scooters and mopeds — battery-powered two-wheelers that people use for getting around cities without burning gasoline. The company sells its scooters under the NIU brand directly to everyday commuters and urban riders, mainly in China but also in Europe and other international markets. It is one of the more recognized smart electric scooter brands in China, known for connecting its vehicles to smartphone apps.

Niu makes money primarily by selling scooters through its own stores, franchised dealers, and online channels, with a smaller portion coming from accessories and parts. The company operates mostly in China, where the vast majority of its revenue comes from, and faces intense competition from larger Chinese manufacturers and low-cost rivals. Its main growth opportunity lies in expanding internationally, but its negative operating margin and low return on capital signal that the business is currently struggling to turn sales into profit, which is the central risk investors face.

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

+14.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

Insider Activity

51.0%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$1.5B cash & investments

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

Growth + cash flow

Niu Technologies is a rare growth stock that's already generating positive cash flow while growing at 15%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

16.0%

Thin — 16.0% gross margin

Profit after running costs

Operating Margin

-7.6%

Losing money on operations — -7.6%

Return on the money invested

ROCE

-25.9%

Weak — -25.9% 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

+24.5%

Fast-growing sales (+24.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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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

0.31

Conservative — low debt load (0.31)

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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