QH · CIK 0001781193

QUHUO Ltd

Annual figures as reported, FY2017–FY2025. Ratios and growth rates derived on-page.

Revenue

CN¥2.5B

▼ −17.1% vs FY2024

Net income

−CN¥149.5M

▼ −5625.5% vs FY2024

Free cash flow

−CN¥39.4M

▼ −151.5% vs FY2024

Diluted EPS

−CN¥0.11

▼ −1200.0% vs FY2024

Revenue

Annual, as reported

Net income

Losses shown in terracotta

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

Gross marginOperating marginNet margin

Returns on capital

Net income vs year-end equity and assets

Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

Operating cash flow

Net cash from operations

Shareholder returns

capital allocation

Diluted shares outstanding

Falling count means buybacks outpace dilution

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

Net debt

Long-term debt less cash — negative means net cash

Growth rates

compounding, annualized

Revenue CAGR

−12.9%

−0.4%

Share count change (split-adjusted)

+2774.2%

Key ratios

derived per fiscal year

Fiscal year	Gross margin	Op. margin	Net margin	FCF margin	ROE	ROA	Current ratio	Debt / equity
FY2025	0.5%	−7.0%	−5.9%	−1.6%	−42.1%	−18.7%	1.03×	0.00×
FY2024	2.4%	−0.3%	0.1%	−0.5%	0.6%	0.3%	1.40×	0.02×
FY2023	4.5%	−0.2%	0.1%	−2.6%	0.7%	0.3%	1.52×	0.02×
FY2022	6.6%	0.9%	−0.3%	1.8%	−2.6%	−1.2%	1.47×	0.00×
FY2021	4.4%	−3.5%	−3.9%	−1.0%	−33.5%	−13.8%	1.26×	0.01×
FY2020	7.5%	−0.8%	0.1%	0.3%	0.6%	0.3%	1.58×	0.02×
FY2019	7.9%	−0.6%	−0.6%	−0.0%	—	−1.6%	1.15×	—
FY2018	7.9%	−3.5%	−2.9%	1.1%	—	—	—	—
FY2017	—	—	—	—	—	—	—	—

Annual figures

as reported

Fiscal year	Revenue	Gross profit	Op. income	Net income	Diluted EPS	Op. cash flow	Capex	Total assets	Liabilities	Equity	Cash	LT debt
FY2025	CN¥2.5B	CN¥12.4M	−CN¥178.1M	−CN¥149.5M	−CN¥0.11	−CN¥37.9M	CN¥1.5M	CN¥798.4M	CN¥448.8M	CN¥354.8M	CN¥38.4M	CN¥296K
FY2024	CN¥3.0B	CN¥73.7M	−CN¥10.4M	CN¥2.7M	CN¥0.01	−CN¥14.7M	CN¥924K	CN¥867.0M	CN¥406.4M	CN¥464.7M	CN¥63.2M	CN¥7.5M
FY2023	CN¥3.7B	CN¥166.6M	−CN¥7.8M	CN¥3.3M	CN¥0.06	−CN¥97.3M	CN¥142K	CN¥1.0B	CN¥526.7M	CN¥506.2M	CN¥45.2M	CN¥10.3M
FY2022	CN¥3.8B	CN¥252.7M	CN¥35.6M	−CN¥13.1M	−CN¥0.23	CN¥74.7M	CN¥4.7M	CN¥1.1B	CN¥558.0M	CN¥501.2M	CN¥95.4M	CN¥1.7M
FY2021	CN¥4.0B	CN¥175.6M	−CN¥139.8M	−CN¥157.9M	−CN¥3.60	−CN¥30.9M	CN¥9.3M	CN¥1.1B	CN¥661.9M	CN¥470.9M	CN¥28.6M	CN¥4.4M
FY2020	CN¥2.6B	CN¥192.5M	−CN¥20.6M	CN¥3.4M	CN¥0.07	CN¥11.1M	CN¥3.4M	CN¥1.1B	CN¥527.7M	CN¥556.3M	CN¥97.8M	CN¥13.0M
FY2019	CN¥2.1B	CN¥162.3M	−CN¥12.5M	−CN¥11.8M	−CN¥0.79	CN¥17.6M	CN¥17.8M	CN¥743.9M	CN¥489.3M	−CN¥779.3M	CN¥126.8M	CN¥19.9M
FY2018	CN¥1.5B	CN¥116.6M	−CN¥51.9M	−CN¥42.6M	−CN¥2.85	CN¥19.8M	CN¥3.9M	—	—	−CN¥826.6M	CN¥17.3M	—
FY2017	—	—	—	—	—	—	—	—	—	−CN¥906.8M	CN¥9.1M	—

Latest filings

the most recent regulatory filings

6-KREPORT OF FOREIGN PRIVATE ISSUER2026-06-11 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-05-27 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-05-22 ↗F-3/AAMENDMENT NO. 1 TO FORM F-32026-05-11 ↗F-6 POSSEC filing2026-04-27 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-04-24 ↗F-3REGISTRATION STATEMENT2026-04-14 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-04-13 ↗S-8REGISTRATION STATEMENT2026-04-09 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-04-07 ↗

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Fiscal year

Gross margin

Op. margin

Net margin

FCF margin

ROE

ROA

Current ratio

Debt / equity

FY2025

0.5%

−7.0%

−5.9%

−1.6%

−42.1%

−18.7%

1.03×

0.00×

FY2024

2.4%

−0.3%

0.1%

−0.5%

0.6%

0.3%

1.40×

0.02×

FY2023

4.5%

−0.2%

0.1%

−2.6%

0.7%

0.3%

1.52×

0.02×

FY2022

6.6%

0.9%

−0.3%

1.8%

−2.6%

−1.2%

1.47×

0.00×

FY2021

4.4%

−3.5%

−3.9%

−1.0%

−33.5%

−13.8%

1.26×

0.01×

FY2020

7.5%

−0.8%

0.1%

0.3%

0.6%

0.3%

1.58×

0.02×

FY2019

7.9%

−0.6%

−0.0%

—

−1.6%

1.15×

—

FY2018

7.9%

−3.5%

−2.9%

1.1%

—

FY2017

—

Fiscal year

Revenue

Gross profit

Op. income

Net income

Diluted EPS

Op. cash flow

Capex

Total assets

Liabilities

Equity

Cash

LT debt

FY2025

CN¥2.5B

CN¥12.4M

−CN¥178.1M

−CN¥149.5M

−CN¥0.11

−CN¥37.9M

CN¥1.5M

CN¥798.4M

CN¥448.8M

CN¥354.8M

CN¥38.4M

CN¥296K

FY2024

CN¥3.0B

CN¥73.7M

−CN¥10.4M

CN¥2.7M

CN¥0.01

−CN¥14.7M

CN¥924K

CN¥867.0M

CN¥406.4M

CN¥464.7M

CN¥63.2M

CN¥7.5M

FY2023

CN¥3.7B

CN¥166.6M

−CN¥7.8M

CN¥3.3M

CN¥0.06

−CN¥97.3M

CN¥142K

CN¥1.0B

CN¥526.7M

CN¥506.2M

CN¥45.2M

CN¥10.3M

FY2022

CN¥3.8B

CN¥252.7M

CN¥35.6M

−CN¥13.1M

−CN¥0.23

CN¥74.7M

CN¥4.7M

CN¥1.1B

CN¥558.0M

CN¥501.2M

CN¥95.4M

CN¥1.7M

FY2021

CN¥4.0B

CN¥175.6M

−CN¥139.8M

−CN¥157.9M

−CN¥3.60

−CN¥30.9M

CN¥9.3M

CN¥1.1B

CN¥661.9M

CN¥470.9M

CN¥28.6M

CN¥4.4M

FY2020

CN¥2.6B

CN¥192.5M

−CN¥20.6M

CN¥3.4M

CN¥0.07

CN¥11.1M

CN¥3.4M

CN¥1.1B

CN¥527.7M

CN¥556.3M

CN¥97.8M

CN¥13.0M

FY2019

CN¥2.1B

CN¥162.3M

−CN¥12.5M

−CN¥11.8M

−CN¥0.79

CN¥17.6M

CN¥17.8M

CN¥743.9M

CN¥489.3M

−CN¥779.3M

CN¥126.8M

CN¥19.9M

FY2018

CN¥1.5B

CN¥116.6M

−CN¥51.9M

−CN¥42.6M

−CN¥2.85

CN¥19.8M

CN¥3.9M

—

−CN¥826.6M

CN¥17.3M

—

FY2017

—

−CN¥906.8M

CN¥9.1M

—