NASDAQ · Financial Statements

Quhuo Limited (QH) Financial Statements

$2.89 NASDAQ: QH Market Cap $9.42M

Quhuo Limited most recently reported annual revenue of $2.5B, a net loss of $149.0M. Revenue declined at an average annual rate of 0.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Quhuo Limited: Revenue rose from $655.0M in 2017 to $2.5B in 2025, a change of +285.6% over 8 years; net profit was positive in 3 of 9 reported years; operating margin moved from -3.3% to -7.2%, a shift of -4.0 percentage points; the most recent year shows a net loss of $149.0M.

Income Statement — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$655.0M	$1.5B	$2.1B	$2.6B	$4.0B	$3.8B	$3.7B	$3.0B	$2.5B
Operating Expenses	$676.0M	$1.5B	$2.0B	$2.6B	$4.1B	$3.8B	$3.7B	$3.1B	$2.7B
Operating Profit	$-21.0M	$-52.0M	$20.0M	$-21.0M	$-85.0M	$36.0M	$-8.0M	$-10.0M	$-183.0M
Operating Margin	-3.3%	-3.5%	0.9%	-0.8%	-2.1%	0.9%	-0.2%	-0.3%	-7.2%
Other Income	$8.0M	$12.0M	$0	$40.0M	$-39.0M	$-31.0M	$13.0M	$-6.0M	$0
Interest	$1.0M	$4.0M	$6.0M	$8.0M	$7.0M	$6.0M	$5.0M	$4.0M	$4.0M
Depreciation	$2.0M	$10.0M	$14.0M	$20.0M	$31.0M	$29.0M	$26.0M	$22.0M	$16.0M
Profit Before Tax	$-14.0M	$-40.0M	$8.0M	$20.0M	$-179.0M	$5.0M	$5.0M	$-17.0M	$-182.0M
Tax	$-3.0M	$-9.9M	$265.4M	$128.3M	$-6.7M	$457.8M	$-18.2M	$109.6M	$17.4M
Net Profit	$-14.0M	$-43.0M	$-13.0M	$3.0M	$-158.0M	$-13.0M	$3.0M	$3.0M	$-149.0M
EPS	$-0.39	$-3.20	$-0.87	$0.05	$-4.00	$-0.26	$54.00	$0.07	$-99.00
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Mar '23	Jun '23	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25
Revenue	$868.0M	$868.0M	$983.0M	$983.0M	$810.0M	$810.0M	$713.0M	$713.0M	$566.0M	$566.0M	$697.0M	$697.0M
Operating Expenses	$879.0M	$874.0M	$981.0M	$981.0M	$832.0M	$832.0M	$697.0M	$697.0M	$601.0M	$601.0M	$751.0M	$751.0M
Operating Profit	$-11.0M	$-6.0M	$2.0M	$2.0M	$-22.0M	$-22.0M	$17.0M	$17.0M	$-35.0M	$-35.0M	$-54.0M	$-54.0M
Operating Margin	-1.2%	-0.7%	0.2%	0.2%	-2.7%	-2.7%	2.4%	2.4%	-6.2%	-6.2%	-7.7%	-7.7%
Interest	$1.0M	$1.0M	$1.0M	$0	$0	$0	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Profit Before Tax	$-4.0M	$-4.0M	$7.0M	$7.0M	$-25.0M	$-25.0M	$16.0M	$16.0M	$-35.0M	$-35.0M	$-56.0M	$-56.0M
Tax	$29.6M	$29.6M	$11.2M	$11.2M	$5.3M	$5.3M	$48.5M	$48.5M	$-25.3M	$-25.3M	$12.5M	$12.5M
Net Profit	$-5.0M	$-5.0M	$6.0M	$6.0M	$-26.0M	$-26.0M	$28.0M	$28.0M	$-27.0M	$-27.0M	$-48.0M	$-48.0M
EPS	$-0.09	$-0.09	$0.13	$0.13	$-0.63	$-0.63	$33.20	$33.20	$-26.60	$-26.60	$-710.50	$-710.50

Over the 9 years reported for Quhuo Limited, borrowings increased from $17.0M in 2017 to $115.0M in 2025, cash stood at $38.0M in the latest year, shareholders' equity was $3.0M, current assets covered current liabilities 1.03 times.

Balance Sheet — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$305.0M	$470.0M	$744.0M	$1.1B	$1.1B	$1.1B	$1.0B	$867.0M	$798.0M
Current Assets	$234.0M	$291.0M	$521.0M	$735.0M	$767.0M	$719.0M	$699.0M	$473.0M	$405.0M
Cash	$9.0M	$17.0M	$127.0M	$98.0M	$29.0M	$95.0M	$45.0M	$63.0M	$38.0M
Inventory	$0	$9.0M	$16.0M	$6.0M	$14.0M	$6.0M	$3.0M	$0	$0
Receivables	$135.0M	$161.0M	$313.0M	$381.0M	$536.0M	$524.0M	$555.0M	$394.0M	$337.0M
Fixed Assets	$1.0M	$11.0M	$26.0M	$56.0M	$23.0M	$17.0M	$21.0M	$13.0M	$4.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$51.0M	$85.0M	$58.0M	$203.0M	$185.0M	$70.0M	$70.0M	$1.0M	$31.0M
Other Assets	$7.0M	$16.0M	$26.0M	$119.0M	$67.0M	$65.0M	$65.0M	$65.0M	$65.0M
Total Liabilities	$178.0M	$1.3B	$1.5B	$528.0M	$662.0M	$558.0M	$527.0M	$406.0M	$449.0M
Current Liabilities	$178.0M	$240.0M	$452.0M	$466.0M	$609.0M	$488.0M	$459.0M	$337.0M	$395.0M
Borrowings	$17.0M	$74.0M	$156.0M	$111.0M	$155.0M	$71.0M	$106.0M	$122.0M	$115.0M
Other Liabilities	$161.0M	$1.2B	$1.4B	$416.0M	$507.0M	$487.0M	$421.0M	$284.0M	$334.0M
Equity	$0	$0	$0	$0	$0	$0	$0	$1.0M	$3.0M
Reserves	$124.0M	$-831.0M	$-779.0M	$556.0M	$471.0M	$501.0M	$506.0M	$465.0M	$355.0M

For Quhuo Limited, operating cash flow was positive in 4 of 9 reported years; free cash flow in the latest year was negative at $47.0M; free cash flow was positive in 1 of 9 years.

Cash Flow Statement — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$-29.0M	$20.0M	$18.0M	$11.0M	$-31.0M	$75.0M	$-97.0M	$-15.0M	$-38.0M
Investing Cash Flow	$-107.0M	$-131.0M	$-27.0M	$-249.0M	$-191.0M	$64.0M	$-14.0M	$-6.0M	$-28.0M
Financing Cash Flow	$71.0M	$34.0M	$69.0M	$-11.0M	$0	$0	$0	$0	$0
Net Cash Flow	$-22.0M	$8.0M	$109.0M	$-23.0M	$-73.0M	$70.0M	$-55.0M	$19.0M	$-25.0M
Free Cash Flow	$-50.0M	$-17.0M	$-22.0M	$-51.0M	$-112.0M	$62.0M	$-130.0M	$-22.0M	$-47.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.00
EV / EBITDA	-0.95
FCF Yield	-48.26%
Quick Ratio	1.03
Interest Coverage	-44.49
Return 1Y	-94.60%
Return 3Y	-96.49%
Return 5Y	-99.98%

Quhuo Limited (QH) financials — frequently asked questions

What is Quhuo Limited's annual revenue?

Quhuo Limited (QH) reported annual revenue of $2.5B in its most recent fiscal year.

What is Quhuo Limited's net profit?

Quhuo Limited (QH) reported a net loss of $149.0M in its most recent fiscal year.

What is QH EV/EBITDA?

Quhuo Limited's enterprise value to EBITDA (EV/EBITDA) ratio is -0.95. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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