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Stocks · Industrials · Trucking & Courier Services (No Air)

SHENGFENG DEVELOPMENT Ltd

SFWL Clue Score56
China Fiscal year ends December CIK 0001863218
$8.31 -1.66% Close, 13 Oct 2026
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Price $8.31 −45.18% Close, 13 Oct 2026

Closing prices at the end of each trading day, from 31 Mar 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue287.5Operating income6.2Net income6.0EPS, diluted0.08Fiscal year 2021Revenue346.7 +20.6%Operating income8.6Net income6.6 +9.9%EPS, diluted0.09 +12.5%Fiscal year 2022Revenue370.3 +6.8%Operating income9.8Net income7.8 +17.2%EPS, diluted0.10 +11.1%Fiscal year 2023Revenue404.1 +9.1%Operating income13.9Net income10.3 +32.2%EPS, diluted0.13 +30.0%Fiscal year 2024Revenue504.2 +24.8%Operating income14.7Net income10.9 +5.7%Fiscal year 2025Revenue572.5 +13.6%Operating income16.9Net income11.9 +9.6%
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 287.5 346.7 370.3 404.1 504.2 572.5
Growth +20.6% +6.8% +9.1% +24.8% +13.6%
Operating income 6.2 8.6 9.8 13.9 14.7 16.9
Net income 6.0 6.6 7.8 10.3 10.9 11.9
Growth +9.9% +17.2% +32.2% +5.7% +9.6%
EPS, diluted 0.08 0.09 0.10 0.13 n/a n/a
Growth +12.5% +11.1% +30.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Gross margin12.5%Operating margin2.2%Net margin2.1%Free cash flow margin−1.9%Fiscal year 2021Gross margin11.9%Operating margin2.5%Net margin1.9%Free cash flow margin−0.6%Fiscal year 2022Gross margin11.2%Operating margin2.7%Net margin2.1%Free cash flow margin−0.6%Fiscal year 2023Gross margin11.5%Operating margin3.4%Net margin2.5%Free cash flow margin0.8%Fiscal year 2024Gross margin9.2%Operating margin2.9%Net margin2.2%Free cash flow margin−2.9%Fiscal year 2025Gross margin9.3%Operating margin2.9%Net margin2.1%Free cash flow margin−0.5%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 12.5% 11.9% 11.2% 11.5% 9.2% 9.3%
Operating margin 2.2% 2.5% 2.7% 3.4% 2.9% 2.9%
Net margin 2.1% 1.9% 2.1% 2.5% 2.2% 2.1%
Free cash flow margin −1.9% −0.6% −0.6% 0.8% −2.9% −0.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow2.3Capital expenditure−7.9Free cash flow−5.6Fiscal year 2021Operating cash flow20.4Capital expenditure−22.6Free cash flow−2.2Fiscal year 2022Operating cash flow4.8Capital expenditure−6.9Free cash flow−2.1Fiscal year 2023Operating cash flow14.1Capital expenditure−10.8Free cash flow3.4Fiscal year 2024Operating cash flow15.0Capital expenditure−29.5Free cash flow−14.5 −530.8%Fiscal year 2025Operating cash flow16.1Capital expenditure−19.0Free cash flow−2.9
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 2.3 20.4 4.8 14.1 15.0 16.1
Capital expenditure −7.9 −22.6 −6.9 −10.8 −29.5 −19.0
Free cash flow −5.6 −2.2 −2.1 3.4 −14.5 −2.9
Growth −530.8%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash and securitiesTotal debt
Fiscal year 2020Cash and securities27.8Shareholders’ equity84.4Fiscal year 2021Cash and securities18.9Total debt91.9Net cash (debt)−73.0Shareholders’ equity91.6Debt to equity1.00Fiscal year 2022Cash and securities21.3Total debt95.3Net cash (debt)−74.0Shareholders’ equity91.2Debt to equity1.04Fiscal year 2023Cash and securities62.9Total debt72.3Net cash (debt)−9.4Shareholders’ equity107.9Debt to equity0.67Fiscal year 2024Cash and securities74.1Total debt55.8Net cash (debt)18.3Shareholders’ equity117.1Debt to equity0.48Fiscal year 2025Cash and securities79.9Total debt81.3Net cash (debt)−1.3Shareholders’ equity131.9Debt to equity0.62
FY2020FY2021FY2022FY2023FY2024FY2025
Cash and securities 27.8 18.9 21.3 62.9 74.1 79.9
Total debt n/a 91.9 95.3 72.3 55.8 81.3
Net cash (debt) n/a −73.0 −74.0 −9.4 18.3 −1.3
Shareholders’ equity 84.4 91.6 91.2 107.9 117.1 131.9
Debt to equity n/a 1.00 1.04 0.67 0.48 0.62

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
12.5% 11.9% 11.2% 11.5% 9.2% 9.3%
2.2% 2.5% 2.7% 3.4% 2.9% 2.9%
2.6% 2.4% 2.5% 3.1% 2.5% 2.5%
2.1% 1.9% 2.1% 2.5% 2.2% 2.1%
−1.9% −0.6% −0.6% 0.8% −2.9% −0.5%
Spending
8.2% 7.2% 6.6% 6.4% 5.1% 5.3%
2.8% 6.5% 1.9% 2.7% 5.8% 3.3%
20.6% 18.6% 17.0% 18.4% 13.3% 14.4%
Returns
7.2% 7.3% 8.5% 9.5% 9.3% 9.0%
n/a 2.7% 3.2% 3.9% 3.5% 3.4%
Balance and payout
n/a 1.00 1.04 0.67 0.48 0.62
n/a 60.7% 61.2% 57.8% 60.2% 60.0%