Greenland Technologies Holding Corporation

GTEC

Industrial - Machinery · Industrials

Price

$0.71

+0.07 (+11.13%)

Market Cap

$18.8M

Exchange

NASDAQ Capital Market

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 13, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

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Share count rising — dilution

+48.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 10.8M (2021) → 16.1M (2025)

Winston Score History

The full picture

Greenland Technologies Holding Corporation makes transmission systems and gearboxes used in heavy industrial machinery. Its core products power equipment like forklifts, construction machines, and other industrial vehicles. The company sells primarily to manufacturers in China and operates within the broader industrial machinery supply chain.

The company earns revenue by selling its mechanical components directly to equipment manufacturers. It is a relatively small company based in China, with operations centered in Zhejiang province, and it competes in a fragmented market where low-cost manufacturing and established supplier relationships serve as modest competitive advantages. A key growth opportunity lies in expanding sales of its electric vehicle transmission products as China pushes industrial electrification, but the company faces real risks from intense domestic competition, thin margins, and limited scale that make it vulnerable to pricing pressure and economic slowdowns in China's construction and manufacturing sectors.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+17.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-20.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$4M/ year

↑ Rising (+34% vs prior year)

4.3% of revenue

In line with sector average (4%)

R&D investment increasing — building for the future

Insider Activity

46.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~7 years

$40M cash & investments

Quarterly Free Cash Flow

$40M cash & investments at current burn rate

Growth context

Greenland Technologies Holding Corporation is growing revenue at 18% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

33.6%

Modest — 33.6% gross margin

Operating Margin

22.4%

Excellent — 22.4% operating margin

ROCE

5.5%

Weak — 5.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+14.1%

Fast-growing sales (+14.1% YoY)

EPS YoY

-76.4%

Earnings shrinking (-76.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Cash Conversion

222%

Turns 222% of profit into real cash

FCF Margin

13.8%

Converts sales into free cash efficiently (13.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.24

Conservative — low debt load (0.24)

Interest Cover

58.14x

Comfortably covers interest (58.1x)

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

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Valuation

P/E Ratio (TTM)

2.6x

Attractive valuation — P/E 2.6

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

P/E vs Forward

+1.5

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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