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Greenland Technologies Holding (GTEC) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Greenland Technologies Holding (GTEC) Q2 2026 earnings results →
Q2 2026 Revenue up 38% year over year to $29.9M · 12¢ of every $1 of revenue kept as net profit · operating margin 20.0%
Greenland Technologies Holding made $29.9M in Q2 2026 (+38% Y/Y): Transmission boxes for Forklift $29.1M, Transmission boxes for Non-Forklift (EV, etc.) $738K. Operating margin 20.0%, net earnings $3.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $29.9M in Q2 2026, up 38% year over year and up 17% from the previous quarter. Transmission boxes for Forklift was the largest line at 98% of revenue. Transmission boxes for Forklift added $8.1M year over year (up 39%), 99% of the total change.
Gross margin was 31.9%, up 5.5 points from Q2 2025. Operating profit was $6.0M, a 20.0% margin (up 30.7 points year over year). Operating expenses fell 56% while revenue rose 38%. The fastest-growing cost line was Research & development (+136%). Net earnings were $3.5M. The effective tax rate was 20.0%.
Operating cash flow was $1.3M, 26% of net income including minority interests. Non-cash charges added back $532K of depreciation and amortization. Working capital and other items used $4.2M. Capital expenditures of $1.2M left free cash flow of $100K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $29.9M | +38% | 20.0% | $3.5M | $1.3M |
| Q1 2026 | 10-Q | May 13, 2026 | $25.5M | +18% | 22.4% | $5.0M | −$1.2M |
| Q4 2025 | 10-K | Mar 23, 2026 | $23.9M | +23% | -0.1% | $210K | $7.8M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $23.4M | +24% | 21.6% | $5.7M | $8.3M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $21.7M | -6% | -10.7% | −$2.8M | −$1.7M |
| Q1 2025 | 10-Q | May 15, 2025 | $21.7M | -5% | 22.2% | $4.0M | $1.2M |
| Q4 2024 | 10-K | Mar 26, 2025 | $19.4M | -15% | 19.4% | $7.6M | $4.4M |
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About Greenland Technologies Holding
Greenland Technologies Holding Corporation (the “Company” or “Greenland”) designs, develops, manufactures and sells components and products for the global material handling industries. Through its subsidiaries in the PRC, Greenland offers transmission products, which are key components for forklift trucks used in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfilment centers, shipyards, and seaports. Forklifts play an important role in the logistic systems of many companies across different industries in China and globally. Generally, industries with the largest demand for forklifts include the transportation, warehousing logistics, electrical machinery, and automobile industries.
In its own words, from its 10-K, filed Mar 23, 2026.
Greenland Technologies Holding against its General Industrial Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +38% against the peers' median +9%. Operating margin: 20.0% against the peers' median 20.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GTEC Greenland Technologies Holding | Q2 2026 | $29.9M | +38% | 20.0% |
| ITW Illinois Tool Works | Q3 2026 | $4.2B | +4% | 27.8% |
| IR Ingersoll Rand | Q3 2026 | $2.1B | +6% | 37.9% |
| ZBRA Zebra Technologies | Q3 2026 | $1.6B | +22% | 14.7% |
| GTES Gates Industrial | Q3 2026 | $904M | +6% | 14.5% |
| ZWS Zurn Elkay Water Solutions | Q3 2026 | $495M | +9% | 21.9% |
| TWIN Twin Disc | Q1 FY27 | $88.7M | +11% | 5.2% |
| GHM Graham | Q2 FY27 | $69.8M | +6% | 8.4% |
Source: Greenland Technologies Holding 10-Q on SEC EDGAR · CIK 1735041 · General Industrial Machinery & Equipment
More on GTEC
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
- Greenland Technologies Holding gross margin by quarter
- Greenland Technologies Holding operating margin by quarter
- Greenland Technologies Holding net income by quarter
- Greenland Technologies Holding free cash flow by quarter
- Greenland Technologies Holding R&D spending by quarter
- Greenland Technologies Holding capital expenditures by quarter
- Greenland Technologies Holding Transmission boxes for Forklift revenue by quarter
- Greenland Technologies Holding Transmission boxes for Non-Forklift (EV, etc.) revenue by quarter