SunCar Technology Group Inc. (SDA)

Nasdaq: SDA · Services-Automotive Repair, Services & Parking · Shanghai, CN · filing with the SEC since 2022

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Grade5.3

◀ Past 6.9● Present 4.1▶ Future 5.8

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of SunCar Technology Group Inc.

Nine metrics read from its own filings, by tense

Headline grade

5.3/10

◀ Past6.925% of the headline

● Present4.145% of the headline

▶ Future5.830% 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?

6.9/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

8.2/10

Has it survived what it has been through?

No warning events in its filings since 2022.

weight 45% of this tense · 82nd percentile among 14 sector filers · read for itself

From the record

SunCar Technology Group Inc.'s filings since 2022 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

6.9/10

What has it actually done, year after year?

+21% a year over 4 filed years; profitable in 0 of 4.

weight 33% of this tense · 69th percentile among 13 sector filers · read for its customers

From the record

SunCar Technology Group Inc.'s 4 filed years say what it did: revenue went from $249 million in fiscal 2021 to $442 million in fiscal 2024, up 21% a year; it rose in 3 of 3 years; it never fell from a peak; net income was positive in 0 of 4 of those years (its annual reports).

What it rests on

revenue growth over the filed span21.0%top 19% of its family
the share of years revenue rosetop 12% of its family
the share of filed years with a profitbottom 19% of its family
the deepest fall from a revenue peak0.0%top 12% of its family

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

Shareholder treatment

SI estimate

4.2/10

How has it treated the people who own it?

SI estimate 4.2/10, confidence 35 of 100 (one part).

weight 22% of this tense · 42nd percentile among 13 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 bottom 42% of 13 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 13 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: SunCar Technology Group Inc.'s shareholder treatment is put at 4.2 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 bottom 42% of 13 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?

4.1/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.4/10

Is it financially healthy right now?

ROE -97%: lost 97¢ per shareholder dollar. Leverage 73%: owes 73¢ per asset dollar.

weight 45% of this tense · 34th percentile among 14 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2024-12-31, SunCar Technology Group Inc. lost about 97 cents for every dollar of shareholders' money. Leverage: it owed about 73 cents per dollar of assets, and net share issuance: its share count grew 12.4% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 39% of its family
return on equitybottom 6% of its family
the share count against the year beforebottom 35% of its family

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

Industry position

as filed

5.1/10

How strong is its position in its industry?

top 49% of 14 in its family; net margin -14.6%.

weight 33% of this tense · 51st percentile among 14 sector filers · read for its customers

From the record

SunCar Technology Group Inc.'s standing among 14 graded names in its industry family: revenue of $442 million in fiscal 2024 ranks in the bottom 39% by size; a net margin of -14.6% ranks in the bottom 25%; revenue growth of 21% a year over the last 3 filed years ranks in the top 11% (its annual reports).

What it rests on

revenue against the family$442Mbottom 39% of its family
net margin-14.6%bottom 25% of its family
three-year revenue growth21.0%top 11% of its family

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

Leadership

SI estimate

4.0/10

What are the people in charge doing?

SI estimate 4.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 8 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; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 8 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; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 8 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: SunCar Technology Group Inc.'s leadership is put at 4.0 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; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 8 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?

5.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

7.5/10

How much room does it have to grow?

top 25% of 14 in its family for room to expand.

weight 22% of this tense · 75th percentile among 14 sector filers · read for itself

From the record

SunCar Technology Group Inc.'s room to grow, from the newest filed statements (fiscal 2024): cash of $30 million against no long-term debt tagged leaves 12% of its assets as net cash, top 18% of its family; cash from operations less capital spending is 2.5% of revenue (top 46%); research spending of 9.1% of revenue (top 10%) (its annual report).

What it rests on

cash less debt against assets12.0%top 18% of its family
cash from operations less capital spending against revenue2.5%top 46% of its family
research spending against revenue9.1%top 10% of its family

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

Growth drivers

as filed

7.0/10

What could actually drive growth from here?

top 30% of 13 in its family for growth drivers.

weight 45% of this tense · 70th percentile among 13 sector filers · read for its customers

From the record

SunCar Technology Group Inc.'s growth drivers, from the filed years to fiscal 2024: revenue grew 21% a year over the last three filed years against 21% over all 4, speeding up (top 15% of its family); the newest year grew 21.4% (top 19%); research spending grew 122.5% a year (top 10%); capital spending grew -22.9% a year (bottom 23%) (its annual reports). SunCar Technology Group Inc. reported 3 product lines in fiscal 2025: Auto Service at $223 million (46%), Auto E Insurance Service at $213 million (43%), Technology Service at $54 million (11%); 2 of 3 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+0.0 points a yeartop 15% of its family
the newest year's revenue growth21.4%top 19% of its family
three-year growth of research spending122.5%top 10% of its family
three-year growth of capital spending-22.9%bottom 23% 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

3.2/10

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

bottom 32% of 13 in its family for expectations against reality.

weight 33% of this tense · 32nd percentile among 13 sector filers · read for its shareholders

From the record

SunCar Technology Group Inc.'s newest year against its own record: revenue of $442 million in fiscal 2024 came in 0.5% above the $439 million its prior three years' pace pointed to (top 50% of its family); net income of $64 million against a prior three-year average of $16 million (bottom 12%); a net margin of -14.6% against -5.4% before (bottom 35%) (its annual reports).

What it rests on

revenue against the prior three years' pace0.5%top 50% of its family
net income against the prior three years' average-307%bottom 12% of its family
net margin against its prior average-9.2 pointsbottom 35% 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 SDA · research, not advice