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Side-by-side financial comparison of JFB Construction Holdings (JFB) and NaaS Technology Inc. (NAAS). Click either name above to swap in a different company.
NaaS Technology Inc. is the larger business by last-quarter revenue ($25.9M vs $16.0M, roughly 1.6× JFB Construction Holdings). JFB Construction Holdings runs the higher net margin — -11.7% vs -193.3%, a 181.5% gap on every dollar of revenue.
NaaS Technology Inc. is a leading electric vehicle energy service provider based in China. It delivers one-stop solutions covering charging network operation, software and hardware support for charging station operators, and value-added services such as charging location search and payment for EV owners, serving both enterprise and individual customers across domestic and select overseas markets.
JFB vs NAAS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2024
| Metric | | |
|---|---|---|
| Revenue | $16.0M | $25.9M |
| Net Profit | $-1.9M | $-50.0M |
| Gross Margin | 4.3% | 29.2% |
| Operating Margin | -12.7% | -144.2% |
| Net Margin | -11.7% | -193.3% |
| Revenue YoY | — | 121.2% |
| Net Profit YoY | — | 18.4% |
| EPS (diluted) | $0.06 | $-0.02 |
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 | $16.0M | — | ||
| Q3 25 | $5.0M | — | ||
| Q2 25 | $3.7M | — | ||
| Q1 25 | $5.9M | — | ||
| Q2 24 | — | $25.9M |
| Q4 25 | $-1.9M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $-2.4M | — | ||
| Q1 25 | $30.3K | — | ||
| Q2 24 | — | $-50.0M |
| Q4 25 | 4.3% | — | ||
| Q3 25 | 14.9% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 24.8% | — | ||
| Q2 24 | — | 29.2% |
| Q4 25 | -12.7% | — | ||
| Q3 25 | -22.6% | — | ||
| Q2 25 | -67.2% | — | ||
| Q1 25 | -0.5% | — | ||
| Q2 24 | — | -144.2% |
| Q4 25 | -11.7% | — | ||
| Q3 25 | -21.3% | — | ||
| Q2 25 | -64.3% | — | ||
| Q1 25 | 0.5% | — | ||
| Q2 24 | — | -193.3% |
| Q4 25 | $0.06 | — | ||
| Q3 25 | $-0.11 | — | ||
| Q2 25 | $-0.26 | — | ||
| Q1 25 | $0.00 | — | ||
| Q2 24 | — | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $24.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $37.8M | $-33.4M |
| Total Assets | $40.0M | $180.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | $24.7M |
| Q4 25 | $37.8M | — | ||
| Q3 25 | $11.6M | — | ||
| Q2 25 | $10.1M | — | ||
| Q1 25 | $11.0M | — | ||
| Q2 24 | — | $-33.4M |
| Q4 25 | $40.0M | — | ||
| Q3 25 | $14.0M | — | ||
| Q2 25 | $12.0M | — | ||
| Q1 25 | $13.3M | — | ||
| Q2 24 | — | $180.2M |
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 | $-9.0M | $-25.7M |
| Free Cash FlowOCF − Capex | $-9.1M | — |
| FCF MarginFCF / Revenue | -57.2% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-12.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.0M | — | ||
| Q3 25 | $-719.0K | — | ||
| Q2 25 | $-2.5M | — | ||
| Q1 25 | $392.8K | — | ||
| Q2 24 | — | $-25.7M |
| Q4 25 | $-9.1M | — | ||
| Q3 25 | $-730.9K | — | ||
| Q2 25 | $-2.5M | — | ||
| Q1 25 | $347.0K | — | ||
| Q2 24 | — | — |
| Q4 25 | -57.2% | — | ||
| Q3 25 | -14.7% | — | ||
| Q2 25 | -68.0% | — | ||
| Q1 25 | 5.9% | — | ||
| Q2 24 | — | — |
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.8% | — | ||
| Q2 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.96× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JFB
| Nonrelated Party | $12.5M | 78% |
| Other | $3.5M | 22% |
NAAS
Segment breakdown not available.
