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Quhuo Limited

QH
18
Software - Application · Technology
Exchange
NASDAQ Global Market
Winston Score
18
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 9, 2026 · filings through Dec 31, 2025

Quhuo Limited is a Chinese company that helps on-demand service businesses manage their workers. It connects gig workers — like food delivery riders and housekeepers — with companies that need them, acting as a staffing and operations platform. Its main customers are large on-demand platforms in China, including food delivery and ride-hailing services.

Quhuo makes money by charging service fees based on the number of workers it places and manages for its clients. It operates almost entirely in China and is a small company with a market cap near zero, meaning it is very thinly valued by investors. The business has very thin profit margins — less than 1% gross margin — and is currently losing money at the operating level, which reflects intense competition and heavy reliance on a small number of large platform clients. The key risk is customer concentration: if a major client reduces its use of Quhuo's services, revenue could drop sharply.

Winston Score History

Growth Profile

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

Revenue Growth

-2.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

Insider Activity

79.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$69M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Quhuo Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

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Quality

Gross Margin
0.6%
Thin — 0.6% gross margin
Operating Margin
-7.7%
Losing money on operations — -7.7%
ROCE
-11.5%
Weak — -11.5% return on capital

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

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Growth

Sales YoY
-17.1%
Shrinking sales (-17.1% YoY)
EPS YoY
<−1,000%
Earnings shrinking (<−1,000% YoY)

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

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
-1.6%
Burning cash (-1.6%)

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

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Stability

Debt / Equity
0.32
Conservative — low debt load (0.32)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
no trend
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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