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About

Token Cat Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in the People's Republic of China. The company organizes auto shows and special promotion events; and provides integrated marketing solutions to industry customers, including automakers, franchised dealerships, secondary dealers, and automotive service providers, as well as enable interactions between participants on both sides of a potential transaction. It also offers business and technical support, and consulting services; subscription and support services; online marketing services through various online platforms, including tuanche.com website, WeChat account, WeChat mini-program, mobile applications, and Cheshangtong, a software as a service product; and referral services for commercial bank to enhance its auto loan business. The company was formerly known as TuanChe Limited and changed its name to Token Cat Limited in February 2025. Token Cat Limited was founded in 2010 and is headquartered in Beijing, China.

Fundamentals
Scroll to Statements
Sector Communication Services Industry Advertising Agencies Market Cap 23.91M
Enterprise Value 97.78B Income -147.99M Sales 36.65M
Book/sh 2.82 Cash/sh 0.00 Dividend Yield —
Payout 0.00% Employees 116 IPO —
P/E — Forward P/E 20.78 PEG —
P/S 0.65 P/B 4.27 P/C —
EV/EBITDA — EV/Sales 2668.11 Quick Ratio 0.15
Current Ratio 1.49 Debt/Eq 126.43 LT Debt/Eq —
EPS (ttm) -180.62 EPS next Y 0.58 EPS Growth —
Revenue Growth -38.80% Earnings 2021-06-30 07:00 ROA -33.80%
ROE -10.85% ROIC — Gross Margin 73.27%
Oper. Margin -206.98% Profit Margin 0.00% Shs Outstand 1.97M
Shs Float 8.04B Short Float 0.05% Short Ratio 0.22
Short Interest — 52W High 22.46 52W Low 6.50
Beta 0.78 Avg Volume 22.01K Volume 129.00
Target Price — Recom None Prev Close $12.05
Price $12.05 Change 0.00%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
—
Mean price target
2. Current target
$12.05
Latest analyst target
3. DCF / Fair value
$-1415.24
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$12.05
Low
—
High
—
Mean
—
Insider Transactions

No recent insider transactions.

Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems0.000.00-2.49M0.00
TaxRateForCalcs0.000.000.030.00
NormalizedEBITDA20.78M-138.47M-17.38M-102.59M
TotalUnusualItems-106.67M18.96M-77.93M-849.00K
TotalUnusualItemsExcludingGoodwill-106.67M18.96M-77.93M-849.00K
NetIncomeFromContinuingOperationNetMinorityInterest-187.99M-82.97M-166.49M-101.94M
ReconciledDepreciation0.000.004.24M7.41M
ReconciledCostOfRevenue15.60M68.94M70.54M85.29M
EBITDA-85.89M-119.51M-95.31M-103.44M
EBIT-85.89M-119.51M-99.55M-110.85M
NetInterestIncome-999.00K-143.00K-174.00K625.00K
NormalizedIncome-81.32M-101.93M-91.05M-101.10M
NetIncomeFromContinuingAndDiscontinuedOperation-187.99M-82.97M-166.49M-101.94M
TotalExpenses135.07M281.88M282.74M468.40M
RentExpenseSupplemental2.48M20.61M9.52M33.30M
TotalOperatingIncomeAsReported-89.94M-121.03M-119.30M-110.85M
DilutedAverageShares108.38K84.75K66.57K63.91K
BasicAverageShares108.38K84.75K66.57K63.91K
DilutedEPS-1.73K-960.00-2.50K-1.58K
BasicEPS-1.73K-960.00-2.50K-1.58K
DilutedNIAvailtoComStockholders-187.99M-82.97M-166.49M-101.94M
NetIncomeCommonStockholders-187.99M-82.97M-166.49M-101.94M
NetIncome-187.99M-82.97M-166.49M-101.94M
MinorityInterests0.000.00
NetIncomeIncludingNoncontrollingInterests-187.99M-82.97M-166.49M-101.94M
NetIncomeContinuousOperations-187.99M-82.97M-166.49M-101.94M
TaxProvision0.000.00-5.45M0.00
PretaxIncome-187.99M-82.97M-171.94M-101.94M
OtherIncomeExpense-101.10M36.68M-72.22M8.28M
OtherNonOperatingIncomeExpenses5.04M17.55M5.69M8.87M
SpecialIncomeCharges-49.61M-1.51M-89.60M-700.00K
WriteOff0.000.00700.00K
ImpairmentOfCapitalAssets49.61M1.51M89.60M0.00
EarningsFromEquityInterest532.00K181.00K26.00K258.00K
GainOnSaleOfSecurity-57.07M20.47M11.66M-149.00K
NetNonOperatingInterestIncomeExpense-999.00K-143.00K-174.00K625.00K
TotalOtherFinanceCost999.00K143.00K174.00K-625.00K
OperatingIncome-85.89M-119.51M-99.55M-110.85M
OperatingExpense119.47M212.94M212.20M383.11M
ResearchAndDevelopment11.89M11.27M19.80M35.65M
SellingGeneralAndAdministration107.58M201.67M192.40M347.46M
SellingAndMarketingExpense24.48M113.04M68.03M163.99M
GeneralAndAdministrativeExpense83.11M88.63M124.38M183.47M
OtherGandA38.86M27.98M46.97M50.27M
SalariesAndWages44.24M60.65M77.41M133.20M
GrossProfit33.58M93.42M112.65M272.26M
CostOfRevenue15.60M68.94M70.54M85.29M
TotalRevenue49.18M162.37M183.19M357.55M
OperatingRevenue45.68M158.24M171.97M328.35M
Line Item2024-12-312023-12-312022-12-312021-12-31
TreasurySharesNumber19.43M21.57M21.57M14.91M
OrdinarySharesNumber741.46M396.61M376.02M307.76M
ShareIssued760.89M418.18M397.59M322.67M
NetDebt35.44M9.12M
TotalDebt48.47M28.88M17.41M11.06M
TangibleBookValue-140.81M-26.08M47.22M61.29M
InvestedCapital-99.07M38.17M97.50M201.41M
WorkingCapital-64.98M-24.77M65.11M53.92M
NetTangibleAssets-140.81M-26.08M47.22M61.29M
CapitalLeaseObligations6.74M10.19M12.69M4.06M
CommonStockEquity-140.81M19.48M92.78M194.41M
TotalCapitalization-130.81M22.48M94.33M194.41M
TotalEquityGrossMinorityInterest-140.81M19.48M92.78M193.31M
MinorityInterest0.000.000.00-1.10M
StockholdersEquity-140.81M19.48M92.78M194.41M
GainsLossesNotAffectingRetainedEarnings-8.98M-8.29M-8.42M-7.41M
OtherEquityAdjustments-8.98M-8.29M-8.42M-7.41M
TreasuryStock34.53M45.89M45.89M45.89M
RetainedEarnings-1.42B-1.23B-1.15B-983.64M
AdditionalPaidInCapital1.32B1.31B1.30B1.23B
CapitalStock515.00K271.00K270.00K217.00K
CommonStock515.00K271.00K270.00K217.00K
TotalLiabilitiesNetMinorityInterest184.95M99.86M142.49M159.76M
TotalNonCurrentLiabilitiesNetMinorityInterest81.92M13.10M33.93M7.98M
OtherNonCurrentLiabilities492.00K957.00K
DerivativeProductLiabilities68.56M3.95M24.38M0.00
NonCurrentDeferredLiabilities0.0049.00K18.00K5.55M
NonCurrentDeferredRevenue0.0049.00K18.00K98.00K
NonCurrentDeferredTaxesLiabilities0.005.45M
LongTermDebtAndCapitalLeaseObligation13.36M9.10M9.04M1.48M
LongTermCapitalLeaseObligation3.36M6.10M7.49M1.48M
LongTermDebt10.00M3.00M1.55M
CurrentLiabilities103.03M86.76M108.56M151.78M
OtherCurrentLiabilities7.43M11.90M16.70M13.09M
CurrentDeferredLiabilities9.67M5.38M5.04M19.54M
CurrentDeferredRevenue9.67M5.38M5.04M19.54M
CurrentDebtAndCapitalLeaseObligation35.11M19.78M8.37M9.59M
CurrentCapitalLeaseObligation3.38M4.09M5.20M2.59M
CurrentDebt31.73M15.69M3.17M7.00M
LineOfCredit31.73M15.69M3.17M7.00M
PayablesAndAccruedExpenses50.82M49.70M78.45M109.57M
Payables50.82M49.70M78.45M109.57M
OtherPayable18.15M25.59M39.94M58.17M
DuetoRelatedPartiesCurrent10.93M1.50M130.00K
TotalTaxPayable7.87M12.20M24.73M21.82M
IncomeTaxPayable8.59M8.53M
AccountsPayable13.88M10.41M13.66M29.58M
TotalAssets44.14M119.35M235.27M353.07M
TotalNonCurrentAssets6.10M57.35M61.60M147.37M
OtherNonCurrentAssets522.00K522.00K313.00K
InvestmentsAndAdvances6.10M5.56M5.38M5.36M
LongTermEquityInvestment6.10M5.56M5.38M5.36M
GoodwillAndOtherIntangibleAssets0.0045.56M45.56M133.12M
OtherIntangibleAssets17.71M
Goodwill0.0045.56M45.56M115.41M
NetPPE0.005.71M10.13M8.57M
AccumulatedDepreciation-11.56M-11.89M-11.97M-8.72M
GrossPPE11.56M17.59M22.11M17.29M
Leases4.67M4.67M4.67M5.08M
OtherProperties5.71M10.13M5.10M
MachineryFurnitureEquipment6.89M7.22M7.30M7.11M
Properties0.000.000.000.00
CurrentAssets38.05M61.99M173.67M205.71M
OtherCurrentAssets4.41M12.32M46.61M60.46M
RestrictedCash4.04M6.43M6.95M33.84M
PrepaidAssets11.46M8.83M248.00K58.56M
Receivables11.85M24.86M49.97M47.95M
ReceivablesAdjustmentsAllowances-19.92M-23.27M-31.38M-34.97M
OtherReceivables18.64M18.86M16.05M16.74M
TaxesReceivable365.00K382.00K1.62M1.21M
NotesReceivable13.00K242.00K505.00K4.59M
AccountsReceivable12.74M28.65M49.46M78.33M
AllowanceForDoubtfulAccountsReceivable-35.09M-32.02M-31.38M-34.97M
GrossAccountsReceivable47.83M60.67M80.84M78.33M
CashCashEquivalentsAndShortTermInvestments6.30M9.56M69.89M63.46M
OtherShortTermInvestments0.00
CashAndCashEquivalents6.30M9.56M69.89M63.46M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-34.74M-74.89M-109.89M-93.22M
RepurchaseOfCapitalStock0.00
RepaymentOfDebt-15.79M-6.43M-8.45M-3.00M
IssuanceOfDebt38.83M20.40M6.17M10.00M
IssuanceOfCapitalStock7.11M0.0093.53M0.00
CapitalExpenditure-19.00K-212.00K-968.00K
InterestPaidSupplementalData465.00K337.00K214.00K182.00K
EndCashPosition10.34M15.99M76.84M97.30M
BeginningCashPosition15.99M76.84M97.30M139.75M
EffectOfExchangeRateChanges-1.07M70.00K-1.80M-5.05M
ChangesInCash-4.58M-60.92M-18.65M-37.40M
FinancingCashFlow30.16M13.97M91.24M7.00M
CashFlowFromContinuingFinancingActivities30.16M13.97M91.24M7.00M
NetOtherFinancingCharges93.53M
ProceedsFromStockOptionExercised0.00
NetCommonStockIssuance7.11M0.0093.53M0.00
CommonStockPayments0.00
CommonStockIssuance7.11M0.0093.53M0.00
NetIssuancePaymentsOfDebt23.05M13.97M-2.29M7.00M
NetShortTermDebtIssuance-15.79M-6.43M-8.45M-3.00M
ShortTermDebtPayments-15.79M-6.43M-8.45M-3.00M
ShortTermDebtIssuance6.17M10.00M
NetLongTermDebtIssuance38.83M20.40M6.17M10.00M
LongTermDebtIssuance38.83M20.40M6.17M10.00M
InvestingCashFlow-19.00K0.00-212.00K47.86M
CashFlowFromContinuingInvestingActivities-19.00K0.00-212.00K47.86M
NetInvestmentPurchaseAndSale0.000.0048.82M
SaleOfInvestment0.000.0051.07M
PurchaseOfInvestment0.000.00-2.25M
NetBusinessPurchaseAndSale0.000.00
SaleOfBusiness0.000.00
NetPPEPurchaseAndSale-19.00K0.00-212.00K-968.00K
SaleOfPPE0.00
PurchaseOfPPE-19.00K0.00-212.00K-968.00K
OperatingCashFlow-34.72M-74.89M-109.68M-92.25M
CashFlowFromContinuingOperatingActivities-34.72M-74.89M-109.68M-92.25M
ChangeInWorkingCapital13.91M21.69M-38.01M-27.36M
ChangeInOtherWorkingCapital4.24M374.00K-14.07M-6.07M
ChangeInOtherCurrentLiabilities9.28M-3.01M-8.03M-17.26M
ChangeInPayablesAndAccruedExpense-10.30M-22.91M-19.94M-6.37M
ChangeInPayable-10.30M-22.91M-19.94M-6.37M
ChangeInAccountPayable3.47M-3.25M-15.92M7.78M
ChangeInTaxPayable-2.26M-3.74M2.90M-1.17M
ChangeInIncomeTaxPayable-2.26M-3.74M2.90M-1.17M
ChangeInPrepaidAssets-2.37M26.79M5.15M-4.18M
ChangeInReceivables13.07M20.44M-1.13M6.50M
ChangesInAccountReceivables20.44M-1.13M6.50M
OtherNonCashItems-2.08M-8.78M-513.00K1.03M
StockBasedCompensation28.39M9.55M10.28M9.80M
ProvisionandWriteOffofAssets6.90M4.77M8.14M17.80M
AssetImpairmentCharge49.61M1.51M89.60M700.00K
DeferredTax0.000.00-5.45M0.00
DeferredIncomeTax0.000.00-5.45M0.00
DepreciationAmortizationDepletion0.000.004.24M7.41M
DepreciationAndAmortization0.000.004.24M7.41M
AmortizationCashFlow0.000.002.10M4.11M
AmortizationOfIntangibles0.000.002.10M4.11M
Depreciation0.000.002.14M3.30M
OperatingGainsLosses56.53M-20.65M-11.47M320.00K
GainLossOnInvestmentSecurities56.53M-20.91M-11.24M-258.00K
NetForeignCurrencyExchangeGainLoss0.00259.00K-444.00K149.00K
GainLossOnSaleOfPPE0.000.00218.00K429.00K
NetIncomeFromContinuingOperations-187.99M-82.97M-166.49M-101.94M
SEC Filings

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