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NASDAQ · TRUCKING & COURIER SERVICES (NO AIR) · SMALL CAP

Shengfeng Development Ltd. SFWL

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$572.5M
▲ 13.6% YoY
$11.9M
▲ 9.6% YoY
$-2.9M
In brief

What this company does

As a contract logistics company, Shengfeng Development Limited, through the VIE and the VIE's subsidiaries, directly owns and operates all of its regional sorting centers, Cloud OFCs and service outlets. It recorded consolidated revenue of approximately $572.5 million for the fiscal year ended December 31, 2025. Its integrated logistics solutions are comprised of three business streams: B2B freight transportation services, cloud storage services, and value-added services. As of December 31, 2025, its transportation networks in China, developed through the VIE and the VIE's subsidiaries, covered 382 cities across 32 provinces. Through the VIE and the VIE's subsidiaries, it serves more than 4,000 manufacturers and trading companies throughout China, including CATL Battery, Bright Dairy, SF Express, Schneider Electric, Tesla and Xiaomi. As of December 31, 2025, it maintained centralized control and management of 26 regional sorting centers, 57 Cloud OFCs, 14 service outlets, approximately 420 self-owned trucks and vehicles, and over 122,000 transportation providers. Shengfeng Development Limited is a holding company incorporated under the laws of the Cayman Islands and is not a Chinese operating company.

Written from the business description in SHENGFENG DEVELOPMENT Ltd's annual report to the U.S. Securities and Exchange Commission, filed 27 March 2026. Every sentence was checked against that document before publication.

Growth
USD 572.5M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 572.5 · Net income 11.9
200M400M202020212022202320242025
Compound annual growth
+15.6%
+14.8%
+15.3%
+17.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 2.9% · Net 2.1%
1%2%3%202020212022202320242025
ROE
FY2025 · ROE 9.6%
5%10%202020212022202320242025
Gross margin9.3%
Operating margin2.9%
Net margin2.1%
Return on assets3.7%
EBITDAUSD 23.3M

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders
—
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -2.9
2M-5M-10M202020212022202320242025
Dividends paid—
Net buybacks—
Share of profit—
Consecutive raises—

Total assetsUSD 347.0M
EquityUSD 131.9M
CashUSD 35.3M
Gross debtUSD 36.6M
Net debtUSD 1.3M
Current ratio1.27×

Net debt stands at 1% of equity.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.60.50.40.40.30.3
Operating income $B0.00.00.00.00.00.0
EBITDA $B0.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.0
Net income $B0.00.00.00.00.00.0
Free cash flow $B−0.0−0.00.0−0.0−0.0−0.0
EPS, diluted $··0.130.100.090.08
Dividend / sh $······
Payout %······
ROE %9.69.710.38.57.3·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 69 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityTrucking & Courier Services (No Air)
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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