Cango (CANG) Operating Expenses (2017 - 2025)

Cango (CANG) posted quarterly Operating Expenses of $456.0 million for Q4 2025, up 403.34% year-over-year from $90.6 million in Q4 2024, and up 151.71% on a QoQ basis from $181.2 million in Q3 2025.

Cango (CANG) Operating Expenses (2017 - 2025) Analysis & Trends

Cango (CANG) has reported Operating Expenses for 9 consecutive years, with $456.0 million the latest figure, recorded in Q4 2025.

  • In Q4 2025, Operating Expenses rose 403.34% year-over-year to $456.0 million; the TTM figure through Dec 2025 stood at $1.1 billion (up 1146.07% YoY), while the FY2025 annual figure was $1.1 billion, up 1084.11% from the prior year.
  • Operating Expenses came in at $456.0 million for Q4 2025 at Cango, up from $181.2 million in the prior quarter.
  • The five-year high for Operating Expenses was $456.0 million in Q4 2025, with the low at -$1.3 million in Q1 2024.
  • Average Operating Expenses over 5 years is $125.6 million, with a median of $98.7 million recorded in 2022.
  • Across the five-year window, Operating Expenses tumbled 101.89% in 2024 and surged 122903.98% in 2025, its largest moves.
  • Year by year, Operating Expenses stood at $189.5 million in 2021, then slumped by 46.54% to $101.3 million in 2022, then slumped by 78.19% to $22.1 million in 2023, then surged by 309.98% to $90.6 million in 2024, then jumped by 403.34% to $456.0 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods registered $456.0 million, $181.2 million, and $320.3 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Morgan Stanley 330.70 Bn 197.17 Bn - 13.47 Bn
2 Goldman Sachs 309.79 Bn -627.76 Bn - 10.43 Bn
3 Schwab Charles 167.21 Bn 122.24 Bn - 3.29 Bn
4 Futu Holdings 111.36 Bn 109.19 Bn 733.58 Mn -200.78 Mn
5 Robinhood Markets 97.69 Bn 93.05 Bn 960.00 Mn 656.00 Mn
6 LPL Financial Holdings 23.49 Bn 22.47 Bn - 4.45 Bn
7 Tradeweb Markets 21.59 Bn 20.34 Bn - 330.51 Mn
8 Circle Internet 15.14 Bn 13.62 Bn 35.01 Mn 242.35 Mn
9 Iren 14.46 Bn 12.24 Bn 144.76 Mn 81.75 Mn
10 Cango 9,065.91 -41.23 Mn 24.17 Mn 456.01 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 456.01 Mn
Sep 30, 2025 181.16 Mn
Jun 30, 2025 -4.82 Mn
Mar 31, 2025 166.65 Mn
Dec 31, 2024 90.60 Mn
Sep 30, 2024 1.22 Mn
Jun 30, 2024 -260,801.00
Mar 31, 2024 -1.35 Mn
Dec 31, 2023 22.10 Mn
Sep 30, 2023 60.50 Mn
Jun 30, 2023 94.38 Mn
Mar 31, 2023 71.46 Mn
Dec 31, 2022 101.30 Mn
Sep 30, 2022 85.58 Mn
Jun 30, 2022 96.05 Mn
Mar 31, 2022 154.08 Mn
Dec 31, 2021 189.49 Mn
Sep 30, 2021 130.31 Mn
Jun 30, 2021 144.58 Mn
Mar 31, 2021 147.17 Mn