Pony AI Inc. American Depositary Shares

PONY

Rental & Leasing Services · Industrials

Price

$6.66

-0.32 (-4.58%)

Market Cap

$2.35B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+8.9% over 4y

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

Diluted shares outstanding: 349.0M (2021) → 379.9M (2025)

Pony AI Inc., through its subsidiaries, engages in the autonomous mobility in the People's Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. It also offers robotaxi services, including a suite of AV engineering solutions comprising AV software deployment and maintenance, vehicle integration and engineering, and road testing; and fare-charging robotaxi services. In addition, the company offers personally-o

Winston Score History

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

+16.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+111.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$218M/ year

↓ Declining (-9% vs prior year)

241.6% of revenue

60.4x the sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

21.3%ownership

Insiders own a meaningful stake in the company

Cash Runway

~6 months

$295M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Pony AI Inc. American Depositary Shares has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

12.7%

Thin — 12.7% gross margin

Operating Margin

-253.6%

Losing money on operations — -253.6%

ROCE

-4.5%

Weak — -4.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+3.0%

Nearly flat sales (3.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-408.7%

Burning cash (-408.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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