Pony AI Inc risk profile
60 Stretched several inputs deteriorating together
Measured 1 September 2026 from PONY's filed statements. Recomputed nightly.
60 (Stretched), driven by Cash conversion at 100, over 5 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 78 | Stretched | Volatile | One-year price volatility — 72.4% |
| Operating pressure | 36 | Normal | Easing | Operating-margin drift — -40.2 percentage points |
| Cash conversion | 100 | Acute | Stable | Capital spending against operating cash — -0.27x |
| Leverage and coverage | 0 | Contained | Stable | Net debt to EBITDA |
| Competitive position | 61 | Stretched | Stable | Operating-margin gap against peers — -296.6 percentage points |
| Concentration | Reads identified supplier spend, customers above the 10% disclosure threshold and revenue by region. No reading is stored for this company. | |||
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.