BingEx Limited

FLX

Integrated Freight & Logistics · Industrials

Price

$2.14

-0.06 (-2.73%)

Market Cap

$48.9M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−67.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 71.0M (2021) → 23.2M (2025)

BingEx Limited, through its subsidiaries, engages in the provision of on-demand dedicated courier services under the FlashEx brand name in the People's Republic of China. The company offers Flash-Riders as service who provides the courier services. It serves individual and business customers, including local retailers, restaurants, and logistics players through its mobile platform and website. The company was founded in 2013 and is headquartered in Beijing, the People's Republic of China.

Winston Score History

Score breakdown

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Quality

Gross Margin

10.8%

Thin — 10.8% gross margin

Operating Margin

0.3%

Thin — 0.3% operating margin

ROCE

0.3%

Weak — 0.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-11.0%

Shrinking sales (-11.0% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

91%

Modest — 91% of profit becomes cash

FCF Margin

2.5%

Thin free cash flow (2.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

0.5x

Attractive valuation — P/E 0.5

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

-0.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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