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ZK

ZEEKR Intelligent Technology Holding Limited

ZK

ZEEKR Intelligent Technology Holding Limited • NYSE
$26.71 ▼ -0.26% (-0.07)
Market Cap $6.84 B
52w High $33.32
52w Low $17.91
Dividend Yield 0%
P/E -21.03
Volume 350.27K
Outstanding Shares 256.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $31.562B ▲ $6.102B ▲ $-803M ▼ -2.544% ▼ $-3.1 ▼ $78M ▼
Q2-2025 $27.431B ▲ $5.371B ▼ $-394M ▲ -1.436% ▲ $-1.54 ▲ $417.245M ▲
Q1-2025 $22.019B ▼ $5.472B ▼ $-718M ▲ -3.261% ▲ $-2.8 ▲ $-1.023B ▲
Q4-2024 $22.778B ▲ $5.753B ▲ $-992.781M ▲ -4.359% ▲ $-3.9 ▲ $-1.21B ▼
Q3-2024 $18.358B $4.158B $-1.226B -6.68% $-5.27 $-1.037B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.021B ▼ $57.12B ▼ $82.651B ▼ $-24.827B ▼
Q2-2025 $8.088B ▲ $61.831B ▲ $87.088B ▲ $-24.057B ▼
Q1-2025 $7.496B ▼ $61.111B ▲ $86.082B ▲ $-23.665B ▼
Q4-2024 $7.783B ▲ $32.671B ▼ $42.824B ▲ $-11.739B ▼
Q3-2024 $5.641B $32.707B $41.93B $-10.636B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-394M ▲ $0 $0 $0 $0 $0
Q1-2025 $-718M ▲ $0 $0 $0 $0 $0
Q4-2024 $-992.781M ▲ $0 $0 $0 $0 $0
Q3-2024 $-1.226B ▲ $0 $0 $0 $0 $0
Q2-2024 $-2.19B $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has been climbing quickly each year as ZEEKR ramps up volumes and expands its model lineup, showing strong demand momentum for a young premium EV brand. Gross profit has moved from almost breakeven to clearly positive, which means the basic unit economics are improving as scale builds. However, operating profit and net income remain meaningfully negative, reflecting very high spending on growth, technology, marketing, and international expansion. Losses are narrowing but still substantial, so the business is still in an investment-heavy phase rather than a profit-focused one. The pattern is typical of a fast-growing EV maker: strong top-line growth, improving margins at the product level, but no overall profitability yet.

Balance Sheet

Balance Sheet The balance sheet shows a company that has scaled up rapidly, with total assets increasing significantly as factories, R&D, and inventory have been built out. Cash reserves have grown, giving ZEEKR more flexibility to fund operations and expansion in the near term. At the same time, debt has risen sharply, and accumulated losses have pushed accounting equity into negative territory. This combination signals a highly leveraged, capital-intensive growth story: supported by access to funding and the Geely ecosystem, but also more exposed if market conditions or funding access were to weaken. Overall, the balance sheet underlines both the speed of the build-out and the financial risk that comes with it.

Cash Flow

Cash Flow Despite accounting losses, cash generation from day‑to‑day operations has recently been positive and improving, helped by rising sales and working capital dynamics typical of a scaling automaker. After investment in new plants, equipment, and technology, free cash flow has also turned modestly positive in the last two years, suggesting that the business is starting to fund more of its own growth, not just relying on external capital. That said, ongoing capital expenditure remains significant, and sustaining positive free cash flow will depend on maintaining strong sales growth and continued efficiency gains. Cash flow looks healthier than the income statement alone might suggest, but it is still early and potentially volatile.

Competitive Edge

Competitive Edge ZEEKR sits in the intensely competitive premium EV segment but benefits from several structural advantages. It taps into Geely’s large-scale manufacturing base, supply chain, and engineering resources, giving it cost and execution benefits that many standalone startups lack. The brand is positioned as tech-forward and premium, with a growing range of vehicles covering SUVs, MPVs, and sporty models, and it is pursuing a direct-to-consumer and service-rich ownership model to build loyalty. Its own ultra-fast charging network further strengthens the ecosystem and reduces ownership friction. On the other hand, it competes head-on with both global incumbents and aggressive Chinese EV peers, in markets known for price wars, fast product cycles, and regulatory complexity. So while the competitive toolkit is strong, the battleground is demanding and will test ZEEKR’s ability to sustain differentiation and pricing power.

Innovation and R&D

Innovation and R&D Innovation is clearly at the core of ZEEKR’s strategy. Its modular SEA platform allows rapid rollout of many body types from a shared architecture, improving speed to market and spreading development costs over multiple models. In-house battery technology and very high-voltage electrical systems give it standout fast-charging performance, which directly addresses a key pain point for EV buyers. Deep integration of advanced driver-assistance and autonomous features, including a strategic partnership with Mobileye, positions the brand as a leader in smart driving. The pipeline is ambitious: multiple new models, expansion into hybrids, and further global market entries within just a few years. The flip side is that such an aggressive R&D and product roadmap is expensive and raises execution risk—delays, quality issues, or slower-than-expected adoption could pressure both finances and brand. Still, the innovation engine is a clear differentiator today.

Summary

ZEEKR is a fast-growing premium EV manufacturer moving rapidly from startup scale to a global player. The company has shown very strong revenue growth and improving product-level margins, but still carries large overall losses, rising debt, and negative equity, highlighting a high-risk, high-investment phase. Cash flow trends are more encouraging than headline earnings, suggesting that the core business is gaining economic traction as volumes ramp. On the strategic side, ZEEKR benefits from Geely’s backing, strong in-house technology, a differentiated charging and software ecosystem, and an expanding global footprint, all of which support a credible long-term growth story. At the same time, the company operates in one of the most competitive and fast-moving industries in the world, where heavy capital needs, price competition, and rapid innovation cycles leave little room for missteps. How well ZEEKR balances its ambition with financial discipline and execution over the next few years will likely be the key driver of its long-term outcome.

NEWS

November 21, 2025 · 6:00 AM UTC

Zeekr Group Announces the Election Deadline for Merger Consideration

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November 16, 2025 · 11:30 PM UTC

Zeekr Group Reports Third Quarter 2025 Unaudited Financial Results

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November 1, 2025 · 1:30 AM UTC

Zeekr Group Announces October 2025 Delivery Update

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October 20, 2025 · 1:00 AM UTC

Zeekr Group to Report Third Quarter 2025 Financial Results on November 17, 2025

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October 1, 2025 · 1:30 AM UTC

Zeekr Group Announces September 2025 Delivery Update

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