Cango Inc. (CANG)

NYSE: CANG · Finance Services · Hong Kong · filing with the SEC since 2018

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Grade5.6

◀ Past 7.3● Present 4.6▶ Future 4.2

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Cango Inc.

Nine metrics read from its own filings, by tense

Headline grade

5.6/10

◀ Past7.340% of the headline

● Present4.635% of the headline

▶ Future4.225% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

8.4/10

Has it survived what it has been through?

No warning events in its filings since 2018.

weight 45% of this tense · 84th percentile among 130 sector filers · read for itself

From the record

Cango Inc.'s filings since 2018 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

4.9/10

What has it actually done, year after year?

+23.3% a year over 7 filed years; profitable in 4 of 8.

weight 22% of this tense · 49th percentile among 104 sector filers · read for its customers

From the record

Cango Inc.'s 7 filed years say what it did: revenue went from $159 million in fiscal 2018 to $688 million in fiscal 2025, up 23.3% a year; it rose in 4 of 6 years; the deepest fall was 85% from fiscal 2021 to fiscal 2024; net income was positive in 4 of 8 of those years (its annual reports).

What it rests on

revenue growth over the filed span23.3%top 46% of its family
the share of years revenue rosetop 45% of its family
the share of filed years with a profittop 32% of its family
the deepest fall from a revenue peak85.4%bottom 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

7.5/10

How has it treated the people who own it?

SI estimate 7.5/10, confidence 35 of 100 (one part).

weight 33% of this tense · 75th percentile among 115 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the top 25% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 115 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Cango Inc.'s shareholder treatment is put at 7.5 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 25% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.6/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.5/10

Is it financially healthy right now?

ROE -157%: lost 157¢ per shareholder dollar. Leverage 65%: owes 65¢ per asset dollar.

weight 45% of this tense · 35th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Cango Inc. lost about 157 cents for every dollar of shareholders' money, and gross profitability: its products earned about 2 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 65 cents per dollar of assets, and net share issuance: its share count grew 21.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 38% of its family
return on equitybottom 12% of its family
gross profit against assetsbottom 40% of its family
the share count against the year beforetop 49% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.6/10

How strong is its position in its industry?

top 44% of 114 in its family; net margin -90.4%.

weight 33% of this tense · 56th percentile among 114 sector filers · read for its customers

From the record

Cango Inc.'s standing among 114 graded names in its industry family: revenue of $688 million in fiscal 2025 ranks in the top 19% by size; a net margin of -90.4% ranks in the bottom 45%; revenue growth of 2.8% a year over the last 3 filed years ranks in the bottom 42% (its annual reports).

What it rests on

revenue against the family$688Mtop 19% of its family
net margin-90.4%bottom 45% of its family
three-year revenue growth2.8%bottom 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.5/10

What are the people in charge doing?

SI estimate 5.5/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 74 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 74 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 74 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Cango Inc.'s leadership is put at 5.5 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 74 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.2/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

2.8/10

How much room does it have to grow?

bottom 28% of 108 in its family for room to expand.

weight 33% of this tense · 28th percentile among 108 sector filers · read for itself

From the record

Cango Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $41 million against debt of $558 million leaves -45.6% of its assets as net cash, bottom 1% of its family; cash from operations less capital spending is -15.2% of revenue (top 36%); a gross margin of 4.1% (bottom 19%) (its annual report).

What it rests on

cash less debt against assets-45.6%bottom 1% of its family
cash from operations less capital spending against revenue-15.2%top 36% of its family
gross margin4.1%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

5.3/10

What could actually drive growth from here?

top 46% of 100 in its family for growth drivers.

weight 33% of this tense · 54th percentile among 100 sector filers · read for its customers

From the record

Cango Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 2.8% a year over the last three filed years against 23.3% over all 7, slowing (bottom 26% of its family); the newest year grew 666.4% (top 5%); research spending grew -59.2% a year (bottom 11%); capital spending grew 141.2% a year (top 18%) (its annual reports). Cango Inc. reported 2 product lines in fiscal 2025: Crypto Asset Mining at $676 million (99%), International Automobile Trading Income at $10 million (1%); 1 of 1 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-20.5 points a yearbottom 26% of its family
the newest year's revenue growth666.4%top 5% of its family
three-year growth of research spending-59.2%bottom 11% of its family
three-year growth of capital spending141.2%top 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

4.6/10

Did its newest year beat what its own record pointed to?

bottom 46% of 78 in its family for expectations against reality.

weight 33% of this tense · 46th percentile among 78 sector filers · read for its shareholders

From the record

Cango Inc.'s newest year against its own record: revenue of $688 million in fiscal 2025 came in 1352.9% above the $47 million its prior three years' pace pointed to (top 2% of its family); net income of $622 million against a prior three-year average of $40 million (bottom 12%); a net margin of -90.4% against -3.3% before (bottom 28%) (its annual reports).

What it rests on

revenue against the prior three years' pace1352.9%top 2% of its family
net income against the prior three years' averagefive times below its prior average or morebottom 12% of its family
net margin against its prior average-87.1 pointsbottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton CANG · research, not advice