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CANG

Cango Inc.
CIK 0001725123 · EDGAR ↗
cleanelevatedtriggeredno dataplanned
81.5
composite · 4 signals · TRIGGERED

Every card below shows the score and the exact filing data it was computed from — no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded — never a guess.

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Signals

P-01 · FY 2025-12-31 · TRIGGERED100.0

Earnings quality

Beneish M-Score 4.98 exceeds the -1.78 manipulation threshold
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-10) ↗
Evidence — inputs and thresholds
{
  "m_score": 4.984,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1,
    "GMI": 7.792,
    "AQI": 2.075,
    "SGI": 6.243,
    "DEPI": 1.154,
    "SGAI": 1,
    "LVGI": 0.496,
    "TATA": -0.303
  },
  "defaulted_to_neutral": [
    "DSRI",
    "SGAI"
  ],
  "sloan_accruals": -0.525,
  "inputs": {
    "revenue_t": 688079223,
    "revenue_t1": 110214479,
    "total_assets_t": 1132985333,
    "net_income_t": -621952043,
    "cfo_t": -109829414
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1725123/000110465926041972/0001104659-26-041972-index.htm",
    "form": "20-F",
    "filed": "2026-04-10"
  }
}
P-05 · FY 2024-12-31 · ELEVATED0.0

Tax arbitrage

ETR 3.8% vs 21% statutory — gap persistent across 1 of 2 years
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-03-27) ↗
Evidence — inputs and thresholds
{
  "etr_by_year": {
    "2024-12-31": 0.0381,
    "2023-12-31": 4.4741
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2024-12-31": 0.1719,
    "2023-12-31": -4.2641
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1725123/000141057825000492/0001410578-25-000492-index.htm",
    "form": "20-F",
    "filed": "2025-03-27"
  }
}
P-12 · FY 2025-12-31 · ELEVATED61.4

Restatement predictor

F-Score 1.84 — misstatement risk 1.8x the base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-10) ↗
Evidence — inputs and thresholds
{
  "f_score": 1.843,
  "probability": 0.00682,
  "components": {
    "rsst": -0.525,
    "drec": -0.0032,
    "dinv": null,
    "soft": 0.947,
    "dcs": 5.2717,
    "droa": -0.5999,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1725123/000110465926041972/0001104659-26-041972-index.htm",
    "form": "20-F",
    "filed": "2026-04-10"
  }
}
P-13 · FY 2023-12-31 · ELEVATED80.0

Zombie / distress

[FY2023 data, stale — no more recent EBIT figure in XBRL] Interest coverage -12.16x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-03-27) ↗
Evidence — inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": -12.163,
    "2022-12-31": -56.347
  },
  "consecutive_years_below_1": 2,
  "altman_z_double_prime": 8.852,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -7023689,
    "interest_expense_t": 577442
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1725123/000141057825000492/0001410578-25-000492-index.htm",
    "form": "20-F",
    "filed": "2025-03-27"
  }
}