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Side-by-side financial comparison of CMB.TECH NV (CMBT) and ECARX Holdings Inc. (ECX). Click either name above to swap in a different company.
CMB.TECH NV is the larger business by last-quarter revenue ($592.8M vs $323.3M, roughly 1.8× ECARX Holdings Inc.). CMB.TECH NV runs the higher net margin — 32.3% vs -21.4%, a 53.6% gap on every dollar of revenue. On growth, ECARX Holdings Inc. posted the faster year-over-year revenue change (6.5% vs -34.6%).
CMB.TECH, before October 2024 known as Euronav, is a crude oil tanker transport company, which consists of VLCCs, Suezmaxes and FSOs.
ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European markets.
CMBT vs ECX — Head-to-Head
Income Statement — Q4 FY2024 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $592.8M | $323.3M |
| Net Profit | $191.2M | $-69.1M |
| Gross Margin | — | 15.5% |
| Operating Margin | 46.4% | -20.2% |
| Net Margin | 32.3% | -21.4% |
| Revenue YoY | -34.6% | 6.5% |
| Net Profit YoY | -63.3% | 12.8% |
| EPS (diluted) | $1.01 | $-0.20 |
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.
| Q2 25 | — | $323.3M | ||
| Q4 24 | $592.8M | — | ||
| Q2 24 | — | $303.5M | ||
| Q4 23 | $905.9M | — |
| Q2 25 | — | $-69.1M | ||
| Q4 24 | $191.2M | — | ||
| Q2 24 | — | $-79.2M | ||
| Q4 23 | $521.2M | — |
| Q2 25 | — | 15.5% | ||
| Q4 24 | — | — | ||
| Q2 24 | — | 22.6% | ||
| Q4 23 | — | — |
| Q2 25 | — | -20.2% | ||
| Q4 24 | 46.4% | — | ||
| Q2 24 | — | -22.2% | ||
| Q4 23 | 63.4% | — |
| Q2 25 | — | -21.4% | ||
| Q4 24 | 32.3% | — | ||
| Q2 24 | — | -26.1% | ||
| Q4 23 | 57.5% | — |
| Q2 25 | — | $-0.20 | ||
| Q4 24 | $1.01 | — | ||
| Q2 24 | — | $-0.23 | ||
| Q4 23 | $2.58 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.9M | $86.2M |
| Total DebtLower is stronger | $2.6B | — |
| Stockholders' EquityBook value | $1.2B | $-293.7M |
| Total Assets | $3.9B | $494.9M |
| Debt / EquityLower = less leverage | 2.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | — | $86.2M | ||
| Q4 24 | $38.9M | — | ||
| Q2 24 | — | $108.4M | ||
| Q4 23 | $429.4M | — |
| Q2 25 | — | — | ||
| Q4 24 | $2.6B | — | ||
| Q2 24 | — | — | ||
| Q4 23 | $930.7M | — |
| Q2 25 | — | $-293.7M | ||
| Q4 24 | $1.2B | — | ||
| Q2 24 | — | $-198.5M | ||
| Q4 23 | $2.4B | — |
| Q2 25 | — | $494.9M | ||
| Q4 24 | $3.9B | — | ||
| Q2 24 | — | $555.0M | ||
| Q4 23 | $3.4B | — |
| Q2 25 | — | — | ||
| Q4 24 | 2.20× | — | ||
| Q2 24 | — | — | ||
| Q4 23 | 0.39× | — |
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 | $204.4M | $-82.0M |
| Free Cash FlowOCF − Capex | — | $-86.5M |
| FCF MarginFCF / Revenue | — | -26.7% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 1.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | — | $-82.0M | ||
| Q4 24 | $204.4M | — | ||
| Q2 24 | — | $-57.1M | ||
| Q4 23 | $435.8M | — |
| Q2 25 | — | $-86.5M | ||
| Q4 24 | — | — | ||
| Q2 24 | — | $-64.9M | ||
| Q4 23 | $65.6M | — |
| Q2 25 | — | -26.7% | ||
| Q4 24 | — | — | ||
| Q2 24 | — | -21.4% | ||
| Q4 23 | 7.2% | — |
| Q2 25 | — | 1.4% | ||
| Q4 24 | — | — | ||
| Q2 24 | — | 2.6% | ||
| Q4 23 | 40.9% | — |
| Q2 25 | — | — | ||
| Q4 24 | 1.07× | — | ||
| Q2 24 | — | — | ||
| Q4 23 | 0.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
