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Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) and Caledonia Mining Corp Plc (CMCL). Click either name above to swap in a different company.

CBAK Energy Technology, Inc. is the larger business by last-quarter revenue ($58.8M vs $46.9M, roughly 1.3× Caledonia Mining Corp Plc). Caledonia Mining Corp Plc runs the higher net margin — 7.0% vs -12.5%, a 19.6% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs 13.8%). Over the past eight quarters, Caledonia Mining Corp Plc's revenue compounded faster (17.1% CAGR vs -0.0%).

CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.

Hochschild Mining plc is a leading British-based silver and gold mining business operating in North, Central, and South America. It is headquartered in Lima, Peru, with a corporate office in London, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The main shareholder is the Peruvian businessman Eduardo Hochschild.

CBAT vs CMCL — Head-to-Head

Bigger by revenue
CBAT
CBAT
1.3× larger
CBAT
$58.8M
$46.9M
CMCL
Growing faster (revenue YoY)
CBAT
CBAT
+118.0% gap
CBAT
131.8%
13.8%
CMCL
Higher net margin
CMCL
CMCL
19.6% more per $
CMCL
7.0%
-12.5%
CBAT
Faster 2-yr revenue CAGR
CMCL
CMCL
Annualised
CMCL
17.1%
-0.0%
CBAT

Income Statement — Q4 FY2025 vs Q3 FY2024

Metric
CBAT
CBAT
CMCL
CMCL
Revenue
$58.8M
$46.9M
Net Profit
$-7.4M
$3.3M
Gross Margin
7.3%
41.2%
Operating Margin
-13.6%
18.6%
Net Margin
-12.5%
7.0%
Revenue YoY
131.8%
13.8%
Net Profit YoY
-63.6%
-33.3%
EPS (diluted)
$-0.08
$0.13

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CBAT
CBAT
CMCL
CMCL
Q4 25
$58.8M
Q3 25
$60.9M
Q2 25
$40.5M
Q1 25
$34.9M
Q4 24
$25.4M
Q3 24
$44.6M
$46.9M
Q2 24
$47.8M
$50.1M
Q1 24
$58.8M
$38.5M
Net Profit
CBAT
CBAT
CMCL
CMCL
Q4 25
$-7.4M
Q3 25
$2.7M
Q2 25
$-3.1M
Q1 25
$-1.6M
Q4 24
$-4.5M
Q3 24
$17.6K
$3.3M
Q2 24
$6.4M
$10.2M
Q1 24
$9.8M
$2.1M
Gross Margin
CBAT
CBAT
CMCL
CMCL
Q4 25
7.3%
Q3 25
8.0%
Q2 25
11.0%
Q1 25
13.7%
Q4 24
13.1%
Q3 24
15.6%
41.2%
Q2 24
26.6%
45.8%
Q1 24
31.9%
35.9%
Operating Margin
CBAT
CBAT
CMCL
CMCL
Q4 25
-13.6%
Q3 25
-6.6%
Q2 25
-8.7%
Q1 25
-8.2%
Q4 24
-26.0%
Q3 24
-1.9%
18.6%
Q2 24
12.4%
32.2%
Q1 24
17.4%
13.8%
Net Margin
CBAT
CBAT
CMCL
CMCL
Q4 25
-12.5%
Q3 25
4.4%
Q2 25
-7.6%
Q1 25
-4.5%
Q4 24
-17.8%
Q3 24
0.0%
7.0%
Q2 24
13.5%
20.3%
Q1 24
16.7%
5.4%
EPS (diluted)
CBAT
CBAT
CMCL
CMCL
Q4 25
$-0.08
Q3 25
$0.03
Q2 25
$-0.03
Q1 25
$-0.02
Q4 24
$-0.05
Q3 24
$0.00
$0.13
Q2 24
$0.07
$0.42
Q1 24
$0.11
$0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CBAT
CBAT
CMCL
CMCL
Cash + ST InvestmentsLiquidity on hand
$8.3M
$7.2M
Total DebtLower is stronger
$4.1M
Stockholders' EquityBook value
$112.7M
$231.0M
Total Assets
$426.2M
$339.7M
Debt / EquityLower = less leverage
0.04×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CBAT
CBAT
CMCL
CMCL
Q4 25
$8.3M
Q3 25
$10.5M
Q2 25
$45.7M
Q1 25
$9.6M
Q4 24
$11.0M
Q3 24
$24.2M
$7.2M
Q2 24
$44.1M
$15.4M
Q1 24
$23.8M
$1.8M
Total Debt
CBAT
CBAT
CMCL
CMCL
Q4 25
$4.1M
Q3 25
$4.8M
Q2 25
$4.9M
Q1 25
$4.1M
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
CBAT
CBAT
CMCL
CMCL
Q4 25
$112.7M
Q3 25
$121.4M
Q2 25
$118.2M
Q1 25
$120.8M
Q4 24
$121.7M
Q3 24
$131.2M
$231.0M
Q2 24
$126.6M
$231.1M
Q1 24
$120.9M
$220.3M
Total Assets
CBAT
CBAT
CMCL
CMCL
Q4 25
$426.2M
Q3 25
$363.9M
Q2 25
$333.1M
Q1 25
$311.5M
Q4 24
$302.2M
Q3 24
$293.5M
$339.7M
Q2 24
$279.6M
$338.5M
Q1 24
$286.5M
$321.8M
Debt / Equity
CBAT
CBAT
CMCL
CMCL
Q4 25
0.04×
Q3 25
0.04×
Q2 25
0.04×
Q1 25
0.03×
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CBAT
CBAT
CMCL
CMCL
Operating Cash FlowLast quarter
$29.8M
$4.6M
Free Cash FlowOCF − Capex
$16.1M
FCF MarginFCF / Revenue
27.3%
Capex IntensityCapex / Revenue
23.4%
Cash ConversionOCF / Net Profit
1.40×
TTM Free Cash FlowTrailing 4 quarters
$3.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CBAT
CBAT
CMCL
CMCL
Q4 25
$29.8M
Q3 25
$14.6M
Q2 25
$13.8M
Q1 25
$-9.6M
Q4 24
$9.6M
Q3 24
$19.7M
$4.6M
Q2 24
$2.9M
$19.1M
Q1 24
$7.4M
Free Cash Flow
CBAT
CBAT
CMCL
CMCL
Q4 25
$16.1M
Q3 25
$6.0M
Q2 25
$4.1M
Q1 25
$-22.3M
Q4 24
$3.9M
Q3 24
$16.5M
Q2 24
$2.5M
Q1 24
$-454.0K
FCF Margin
CBAT
CBAT
CMCL
CMCL
Q4 25
27.3%
Q3 25
9.9%
Q2 25
10.2%
Q1 25
-63.9%
Q4 24
15.5%
Q3 24
37.1%
Q2 24
5.2%
Q1 24
-0.8%
Capex Intensity
CBAT
CBAT
CMCL
CMCL
Q4 25
23.4%
Q3 25
14.1%
Q2 25
23.8%
Q1 25
36.3%
Q4 24
22.5%
Q3 24
7.0%
Q2 24
0.9%
Q1 24
13.4%
Cash Conversion
CBAT
CBAT
CMCL
CMCL
Q4 25
Q3 25
5.51×
Q2 25
Q1 25
Q4 24
Q3 24
1115.72×
1.40×
Q2 24
0.46×
1.87×
Q1 24
0.76×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CBAT
CBAT

Manufacturing Lithium Batteries$28.0M48%
Residential Energy Supply And Uninterruptable Supplies$17.8M30%
Light Electric Vehicles$12.9M22%
Precursor$108.0K0%

CMCL
CMCL

Segment breakdown not available.

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