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SFWL

Shengfeng Development Limited

SFWL

Shengfeng Development Limited • NASDAQ
$0.93 ▲ 1.52% (+0.01)
Market Cap $76.55 M
52w High $1.29
52w Low $0.84
Dividend Yield 0%
P/E 6.63
Volume 3
Outstanding Shares 82.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $263.434M ▼ $16.278M ▼ $5.863M ▲ 2.226% ▲ $0.071 ▲ $11.235M ▼
Q4-2024 $277.027M ▲ $17.088M ▲ $5.842M ▲ 2.109% ▼ $0.071 ▲ $14.111M ▲
Q2-2024 $227.131M ▲ $14.53M ▼ $5.036M ▲ 2.217% ▲ $0.061 ▲ $13.25M ▲
Q4-2023 $219.15M ▲ $18.288M ▲ $3.85M ▼ 1.757% ▼ $0.047 ▼ $12.696M ▼
Q2-2023 $184.971M $14.312M $6.444M 3.484% $0.078 $16.903M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $14.327M ▼ $296.437M ▼ $166.266M ▼ $123.514M ▲
Q4-2024 $34.668M ▲ $310.13M ▲ $186.684M ▲ $117.144M ▲
Q2-2024 $11.176M ▼ $263.778M ▼ $146.182M ▼ $112.303M ▲
Q4-2023 $29.293M ▲ $265.838M ▲ $153.525M ▲ $107.947M ▲
Q2-2023 $29.082M $229.802M $123.691M $101.963M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $5.863M ▲ $-14.542M ▼ $-10.492M ▲ $3.655M ▼ $-21.288M ▼ $-22.355M ▼
Q4-2024 $5.842M ▲ $26.807M ▲ $-16.602M ▼ $15.703M ▲ $25.511M ▲ $11.605M ▲
Q2-2024 $5.036M ▲ $-11.797M ▼ $-13.957M ▲ $11.299M ▲ $-14.591M ▼ $-35.115M ▼
Q4-2023 $3.85M ▼ $4.356M ▼ $-14.224M ▼ $6.812M ▲ $-2.382M ▼ $-18.939M ▼
Q2-2023 $6.444M $9.893M $-4.155M $3.801M $9.539M $4.476M

Five-Year Company Overview

Income Statement

Income Statement The business shows a pattern of steady, moderate revenue growth over the past several years, which suggests it is gradually winning more volume and customers. Profitability is positive but slim, meaning the company is making money, yet with only a modest cushion if conditions weaken. Margins have stayed fairly stable, implying decent cost control but not much pricing power in a competitive logistics market. Earnings per share have edged up over time, reflecting slow but consistent financial progress rather than rapid expansion.

Balance Sheet

Balance Sheet The balance sheet looks relatively compact, with total assets and equity slowly building over time. Debt has increased but not dramatically, indicating some use of borrowing while still appearing manageable relative to the company’s size. Cash levels are modest, which is common in asset-heavy logistics, but it leaves less room to absorb shocks without tapping external funding. Overall, the company appears steadily strengthening its asset base, though it does not have a particularly large financial buffer.

Cash Flow

Cash Flow The company is consistently generating cash from its operations, which is a healthy sign that the core business model works. However, spending on equipment and other long-term assets has often been high enough to push free cash flow close to zero or negative, especially in the most recent year. This pattern suggests a business that is reinvesting heavily to support growth and network capacity, but at the cost of near-term cash flexibility. Sustaining this level of investment may require ongoing disciplined execution and access to funding.

Competitive Edge

Competitive Edge Shengfeng operates in a crowded and price-sensitive logistics market, but it has built some meaningful advantages. Its proprietary transportation management system, broad domestic network, and package of value-added services help differentiate it from smaller or less integrated rivals. Long-standing relationships with major customers in fast-moving goods and especially the new energy vehicle and battery sectors create sticky business and recurring volume. The flip side is some dependence on a few large clients and on conditions in China’s economy and regulatory environment, which can introduce concentration and country-specific risks.

Innovation and R&D

Innovation and R&D The company is clearly leaning on technology and innovation as key levers. Its in-house logistics software, integrated with cloud-style warehousing services, provides more visibility, customization, and efficiency for customers, which can deepen relationships and raise switching costs. It is also investing in electric trucks, battery swapping infrastructure, and exploring drone-based low-altitude logistics, aligning with clean-energy and next-generation delivery trends. These initiatives could enhance its long-term edge but will require ongoing capital, technical execution, and regulatory navigation to pay off fully.

Summary

Shengfeng Development looks like a steadily growing, operationally sound logistics provider that is trying to move up the value chain through technology and specialized services. Financially, it is profitable with improving scale, though margins are thin and free cash flow is constrained by heavy reinvestment. Its competitive position benefits from a wide network, proprietary systems, and deep ties to major new energy clients, which together form a modest but real moat in a tough industry. The main opportunities lie in scaling its tech-enabled and green logistics offerings, while key risks center on execution of capital-intensive plans, reliance on a concentrated customer base, and exposure to broader Chinese economic and policy conditions.