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Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) and P10, Inc. (PX). Click either name above to swap in a different company.
P10, Inc. is the larger business by last-quarter revenue ($81.0M vs $58.8M, roughly 1.4× CBAK Energy Technology, Inc.). P10, Inc. runs the higher net margin — 11.7% vs -12.5%, a 24.2% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs -4.7%). P10, Inc. produced more free cash flow last quarter ($18.1M vs $16.1M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% 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.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
CBAT vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.8M | $81.0M |
| Net Profit | $-7.4M | $9.5M |
| Gross Margin | 7.3% | — |
| Operating Margin | -13.6% | 31.9% |
| Net Margin | -12.5% | 11.7% |
| Revenue YoY | 131.8% | -4.7% |
| Net Profit YoY | -63.6% | 79.0% |
| EPS (diluted) | $-0.08 | $0.08 |
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.
| Q4 25 | $58.8M | $81.0M | ||
| Q3 25 | $60.9M | $75.9M | ||
| Q2 25 | $40.5M | $72.7M | ||
| Q1 25 | $34.9M | $67.7M | ||
| Q4 24 | $25.4M | $85.0M | ||
| Q3 24 | $44.6M | $74.2M | ||
| Q2 24 | $47.8M | $71.1M | ||
| Q1 24 | $58.8M | $66.1M |
| Q4 25 | $-7.4M | $9.5M | ||
| Q3 25 | $2.7M | $2.1M | ||
| Q2 25 | $-3.1M | $3.4M | ||
| Q1 25 | $-1.6M | $4.5M | ||
| Q4 24 | $-4.5M | $5.3M | ||
| Q3 24 | $17.6K | $1.4M | ||
| Q2 24 | $6.4M | $7.0M | ||
| Q1 24 | $9.8M | $5.0M |
| Q4 25 | 7.3% | — | ||
| Q3 25 | 8.0% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 15.6% | — | ||
| Q2 24 | 26.6% | — | ||
| Q1 24 | 31.9% | — |
| Q4 25 | -13.6% | 31.9% | ||
| Q3 25 | -6.6% | 14.1% | ||
| Q2 25 | -8.7% | 24.4% | ||
| Q1 25 | -8.2% | 16.6% | ||
| Q4 24 | -26.0% | 26.9% | ||
| Q3 24 | -1.9% | 11.9% | ||
| Q2 24 | 12.4% | 23.7% | ||
| Q1 24 | 17.4% | 18.3% |
| Q4 25 | -12.5% | 11.7% | ||
| Q3 25 | 4.4% | 2.8% | ||
| Q2 25 | -7.6% | 4.7% | ||
| Q1 25 | -4.5% | 6.7% | ||
| Q4 24 | -17.8% | 6.2% | ||
| Q3 24 | 0.0% | 1.9% | ||
| Q2 24 | 13.5% | 9.8% | ||
| Q1 24 | 16.7% | 7.6% |
| Q4 25 | $-0.08 | $0.08 | ||
| Q3 25 | $0.03 | $0.02 | ||
| Q2 25 | $-0.03 | $0.03 | ||
| Q1 25 | $-0.02 | $0.04 | ||
| Q4 24 | $-0.05 | $0.05 | ||
| Q3 24 | $0.00 | $0.01 | ||
| Q2 24 | $0.07 | $0.06 | ||
| Q1 24 | $0.11 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.3M | $28.2M |
| Total DebtLower is stronger | $4.1M | $373.2M |
| Stockholders' EquityBook value | $112.7M | $403.5M |
| Total Assets | $426.2M | $928.3M |
| Debt / EquityLower = less leverage | 0.04× | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | $28.2M | ||
| Q3 25 | $10.5M | $40.0M | ||
| Q2 25 | $45.7M | $33.4M | ||
| Q1 25 | $9.6M | $74.4M | ||
| Q4 24 | $11.0M | $67.5M | ||
| Q3 24 | $24.2M | $61.5M | ||
| Q2 24 | $44.1M | $31.2M | ||
| Q1 24 | $23.8M | $29.0M |
| Q4 25 | $4.1M | $373.2M | ||
| Q3 25 | $4.8M | $393.4M | ||
| Q2 25 | $4.9M | $373.0M | ||
| Q1 25 | $4.1M | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $112.7M | $403.5M | ||
| Q3 25 | $121.4M | $396.8M | ||
| Q2 25 | $118.2M | $388.9M | ||
| Q1 25 | $120.8M | $374.3M | ||
| Q4 24 | $121.7M | $386.9M | ||
| Q3 24 | $131.2M | $394.1M | ||
| Q2 24 | $126.6M | $396.9M | ||
| Q1 24 | $120.9M | $400.1M |
| Q4 25 | $426.2M | $928.3M | ||
| Q3 25 | $363.9M | $936.0M | ||
| Q2 25 | $333.1M | $932.2M | ||
| Q1 25 | $311.5M | $877.4M | ||
| Q4 24 | $302.2M | $869.3M | ||
| Q3 24 | $293.5M | $857.0M | ||
| Q2 24 | $279.6M | $823.2M | ||
| Q1 24 | $286.5M | $832.8M |
| Q4 25 | 0.04× | 0.93× | ||
| Q3 25 | 0.04× | 0.99× | ||
| Q2 25 | 0.04× | 0.96× | ||
| Q1 25 | 0.03× | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $29.8M | $23.0M |
| Free Cash FlowOCF − Capex | $16.1M | $18.1M |
| FCF MarginFCF / Revenue | 27.3% | 22.3% |
| Capex IntensityCapex / Revenue | 23.4% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $3.9M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.8M | $23.0M | ||
| Q3 25 | $14.6M | $-8.6M | ||
| Q2 25 | $13.8M | $13.4M | ||
| Q1 25 | $-9.6M | $-4.7M | ||
| Q4 24 | $9.6M | $101.0M | ||
| Q3 24 | $19.7M | $27.5M | ||
| Q2 24 | $2.9M | $34.8M | ||
| Q1 24 | $7.4M | $11.0M |
| Q4 25 | $16.1M | $18.1M | ||
| Q3 25 | $6.0M | $-9.5M | ||
| Q2 25 | $4.1M | $11.6M | ||
| Q1 25 | $-22.3M | $-6.0M | ||
| Q4 24 | $3.9M | $96.6M | ||
| Q3 24 | $16.5M | $25.2M | ||
| Q2 24 | $2.5M | $33.9M | ||
| Q1 24 | $-454.0K | $10.7M |
| Q4 25 | 27.3% | 22.3% | ||
| Q3 25 | 9.9% | -12.6% | ||
| Q2 25 | 10.2% | 15.9% | ||
| Q1 25 | -63.9% | -8.9% | ||
| Q4 24 | 15.5% | 113.6% | ||
| Q3 24 | 37.1% | 34.0% | ||
| Q2 24 | 5.2% | 47.7% | ||
| Q1 24 | -0.8% | 16.2% |
| Q4 25 | 23.4% | 6.0% | ||
| Q3 25 | 14.1% | 1.2% | ||
| Q2 25 | 23.8% | 2.5% | ||
| Q1 25 | 36.3% | 1.9% | ||
| Q4 24 | 22.5% | 5.2% | ||
| Q3 24 | 7.0% | 3.0% | ||
| Q2 24 | 0.9% | 1.3% | ||
| Q1 24 | 13.4% | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | 5.51× | -4.01× | ||
| Q2 25 | — | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | 1115.72× | 19.54× | ||
| Q2 24 | 0.46× | 4.98× | ||
| Q1 24 | 0.76× | 2.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
