NASDAQ : QFIN
Qfin Holdings, Inc. — Financial statements
Financials · Credit Services · China
Last price 5.17 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 628.58M
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Financial statements
Qfin Holdings, Inc. (QFIN) reported revenue of 16.77B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 8.37B | 10.64B | 10.53B | 11.18B | 13.07B | 14.45B |
| Other Revenue | 8.41B | 8.57B | 6.64B | 5.11B | 3.49B | 2.18B |
| Revenue | 16.77B | 19.21B | 17.17B | 16.29B | 16.55B | 16.64B |
| Cost of Revenue | 7.90B | 7.41B | 6.56B | 5.84B | 4.86B | 3.80B |
| Gross Profit | 8.87B | 11.79B | 10.60B | 10.45B | 11.70B | 12.84B |
| Selling, General & Admin | 2.65B | 3.13B | 2.18B | 2.36B | 2.62B | 2.65B |
| Operating Expenses | 2.96B | 3.45B | 2.60B | 2.54B | 2.86B | 2.97B |
| Operating Income | 5.91B | 8.35B | 8.01B | 7.91B | 8.84B | 9.86B |
| Interest & Investment Income | 199.94M | 278.63M | 237.01M | 217.31M | 182.30M | 136.37M |
| Currency Exchange Gain (Loss) | 72.83M | 159.57M | 1.51M | 2.36M | -160.22M | 35.55M |
| Other Non Operating Income (Expenses) | -1.43B | -1.68B | -353.08M | -2.82B | -4.10B | -3.01B |
| EBT Excluding Unusual Items | 4.75B | 7.11B | 7.89B | 5.31B | 4.76B | 7.02B |
| Gain (Loss) on Sale of Investments | -30.11M | -19.89M | ||||
| Other Unusual Items | 468.17M | 270.13M | ||||
| Pretax Income | 5.22B | 7.38B | 7.89B | 5.28B | 4.74B | 7.02B |
| Income Tax Expense | 1.49B | 1.40B | 1.64B | 1.01B | 736.80M | 1.26B |
| Earnings From Continuing Operations | 3.73B | 5.98B | 6.25B | 4.27B | 4.01B | 5.76B |
| Minority Interest in Earnings | 15.02M | 14.05M | 16.20M | 16.76M | 18.61M | 17.21M |
| Net Income | 3.74B | 5.99B | 6.26B | 4.29B | 4.02B | 5.78B |
| Net Income to Common | 3.74B | 5.99B | 6.26B | 4.29B | 4.02B | 5.78B |
| Shares Outstanding (Basic) | 125.79M | 133.25M | 149.01M | 160.37M | 156.29M | 153.63M |
| Shares Outstanding (Diluted) | 127.54M | 136.09M | 151.72M | 164.25M | 161.01M | 160.70M |
| EPS (Basic) | 29.77 | 44.95 | 42.04 | 26.72 | 25.75 | 37.63 |
| EPS (Diluted) | 29.36 | 44.02 | 41.28 | 26.08 | 25.00 | 35.98 |
| Free Cash Flow | 8.60B | 10.84B | 9.19B | 7.03B | 5.90B | 5.76B |
| Free Cash Flow Per Share | 67.41 | 79.68 | 60.57 | 42.82 | 36.62 | 35.87 |
| Dividend Per Share | 8.45 | 10.77 | 9.49 | 7.66 | 4.97 | 3.43 |
| Gross Margin | 52.89% | 61.41% | 61.77% | 64.13% | 70.67% | 77.16% |
| Operating Margin | 35.23% | 43.46% | 46.64% | 48.56% | 53.40% | 59.30% |
| Profit Margin | 22.32% | 31.19% | 36.49% | 26.31% | 24.31% | 34.76% |
| Free Cash Flow Margin | 51.26% | 56.46% | 53.54% | 43.18% | 35.61% | 34.65% |
| EBITDA | 5.97B | 8.41B | 8.08B | 7.98B | 8.92B | 9.93B |
| EBITDA Margin | 35.62% | 43.81% | 47.08% | 49.02% | 53.87% | 59.69% |
| D&A For EBITDA | 64.73M | 68.12M | 74.89M | 73.76M | 76.98M | 65.97M |
| EBIT | 5.91B | 8.35B | 8.01B | 7.91B | 8.84B | 9.86B |
| EBIT Margin | 35.23% | 43.46% | 46.64% | 48.56% | 53.40% | 59.30% |
| Effective Tax Rate | 28.51% | 18.99% | 20.83% | 19.12% | 15.54% | 17.92% |
| Revenue as Reported | 16.77B | 19.21B | 17.17B | 16.29B | 16.55B | 16.64B |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.12B | 4.70B | 4.45B | 4.18B | 7.17B | 6.12B |
| Short-Term Investments | 2.70B | 2.85B | 3.39B | 15.00M | 57.00M | |
| Cash & Short-Term Investments | 6.81B | 7.55B | 7.85B | 4.19B | 7.22B | 6.12B |
| Accounts Receivable | 482.95M | 950.27M | 2.22B | 2.95B | 3.26B | 3.93B |
| Receivables | 29.48B | 35.63B | 28.94B | 27.56B | 18.61B | 13.78B |
| Prepaid Expenses | 1.34B | 773.00M | 1.46B | 329.92M | 379.39M | 383.94M |
| Restricted Cash | 3.56B | 2.84B | 2.35B | 3.38B | 3.35B | 2.64B |
| Other Current Assets | 1.23B | 2.68B | 2.18B | 4.33B | 4.54B | 4.83B |
| Total Current Assets | 42.42B | 49.48B | 42.78B | 39.80B | 34.10B | 27.76B |
| Property, Plant & Equipment | 640.89M | 672.73M | 398.41M | 276.61M | 103.07M | 67.55M |
| Goodwill | 45.17M | 45.20M | 42.41M | 41.21M | ||
| Other Intangible Assets | 965.96M | 977.25M | 968.56M | 990.90M | 1.00B | 1.02B |
| Long-Term Accounts Receivable | 16.59M | 21.99M | 27.18M | 151.24M | 294.56M | 364.32M |
| Long-Term Deferred Tax Assets | 1.57B | 1.38B | 1.21B | 1.07B | 1.02B | 834.72M |
| Other Long-Term Assets | 251.01M | 369.07M | 171.41M | 596.84M | 689.03M | 597.97M |
| Total Assets | 53.09B | 56.95B | 48.13B | 45.82B | 40.34B | 33.50B |
| Accrued Expenses | 2.90B | 1.33B | 1.37B | 1.35B | 1.26B | 1.61B |
| Short-Term Debt | 2.18B | 1.20B | 1.37B | 798.59M | 150.00M | 397.58M |
| Current Portion of Long-Term Debt | 1.02B | |||||
| Current Portion of Leases | 18.36M | 27.26M | 29.14M | 30.70M | 25.78M | |
| Current Income Taxes Payable | 1.06B | 1.08B | 1.04B | 742.21M | 661.01M | 624.11M |
| Current Unearned Revenue | 788.98M | 525.76M | 146.87M | |||
| Other Current Liabilities | 13.41B | 14.92B | 13.14B | 16.84B | 14.65B | 11.49B |
| Total Current Liabilities | 19.55B | 20.36B | 17.47B | 19.90B | 16.75B | 14.14B |
| Long-Term Debt | 1.37B | 2.05B | 247.46M | 90.62M | 17.85M | |
| Long-Term Leases | 14.33M | 7.69M | 11.85M | 21.66M | 13.18M | |
| Long-Term Deferred Tax Liabilities | 330.93M | 320.15M | 439.44M | 224.82M | 100.83M | 121.43M |
| Other Long-Term Liabilities | 7.05B | 10.05B | 5.72B | 3.58B | 4.52B | 4.01B |
| Total Liabilities | 28.31B | 32.79B | 23.89B | 23.81B | 21.41B | 18.29B |
| Common Stock | 24.75B | 20.00K | 21.00K | 22.00K | 22.00K | 22.00K |
| Additional Paid-In Capital | 3.87B | 4.34B | 6.06B | 6.10B | 5.67B | |
| Retained Earnings | 24.50B | 20.95B | 16.30B | 12.80B | 9.64B | |
| Treasury Stock | -4.07B | -1.11B | -384.64M | |||
| Comprehensive Income & Other | -195.69M | 11.88M | -34.66M | -51.77M | -110.93M | |
| Total Common Equity | 24.75B | 24.11B | 24.19B | 21.94B | 18.85B | 15.20B |
| Minority Interest | 34.07M | 42.13M | 56.18M | 72.37M | 84.14M | 12.75M |
| Shareholders' Equity | 24.78B | 24.16B | 24.25B | 22.01B | 18.93B | 15.22B |
| Total Liabilities & Equity | 53.09B | 56.95B | 48.13B | 45.82B | 40.34B | 33.50B |
| Total Debt | 3.56B | 4.30B | 1.65B | 930.20M | 220.22M | 436.53M |
| Net Cash (Debt) | 3.26B | 3.25B | 6.19B | 3.26B | 7.00B | 5.68B |
| Net Cash Per Share | 25.55 | 23.87 | 40.82 | 19.86 | 43.49 | 35.34 |
| Filing Date Shares Outstanding | 121.58M | 121.75M | 140.31M | 155.25M | 161.46M | 155.26M |
| Total Common Shares Outstanding | 121.58M | 121.91M | 141.99M | 157.61M | 161.40M | 155.24M |
| Working Capital | 22.86B | 29.12B | 25.31B | 19.90B | 17.35B | 13.61B |
| Book Value Per Share | 203.57 | 197.81 | 170.36 | 139.19 | 116.78 | 97.94 |
| Tangible Book Value | 23.74B | 23.09B | 23.18B | 20.91B | 17.84B | 14.18B |
| Tangible Book Value Per Share | 195.25 | 189.42 | 163.24 | 132.64 | 110.56 | 91.34 |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.74B | 5.99B | 6.26B | 4.29B | 4.02B | 5.78B |
| Depreciation & Amortization | 68.12M | 68.12M | 74.89M | 73.76M | 76.98M | 65.97M |
| Other Amortization | 22.24M | 22.24M | ||||
| Loss (Gain) From Sale of Investments | 30.11M | 19.89M | -10.12M | |||
| Stock-Based Compensation | 378.37M | 378.37M | 167.61M | 185.60M | 199.74M | 253.92M |
| Other Operating Activities | 1.40B | 1.40B | 460.69M | 3.04B | 4.50B | 3.03B |
| Change in Accounts Receivable | 930.70M | 930.70M | 367.81M | -123.38M | -33.16M | -819.93M |
| Change in Income Taxes | 42.49M | 42.49M | 298.48M | 76.33M | 36.90M | -603.20M |
| Change in Other Net Operating Assets | -1.63B | -1.63B | -1.86B | -3.24B | -4.92B | -4.11B |
| Operating Cash Flow | 8.84B | 11.08B | 9.34B | 7.12B | 5.92B | 5.79B |
| Capital Expenditures | -240.54M | -240.54M | -153.15M | -84.55M | -26.97M | -25.31M |
| Divestitures | 3.35M | -1.46M | ||||
| Investment in Securities | 337.51M | 337.51M | -3.33B | 54.94M | -48.29M | |
| Other Investing Activities | 11.26B | -208.03M | -20.37M | -47.08M | -14.55M | |
| Investing Cash Flow | -1.61B | -13.08B | -7.99B | -11.15B | -7.36B | -6.06B |
| Short-Term Debt Issued | 1.88B | 1.89B | 824.59M | 343.18M | 1.06B | |
| Long-Term Debt Issued | 5.13B | 157.21M | 72.77M | 17.85M | ||
| Total Debt Issued | 7.02B | 7.02B | 2.05B | 897.35M | 361.03M | 1.06B |
| Short-Term Debt Repaid | -2.04B | -1.32B | -176.00M | -743.13M | -564.84M | |
| Long-Term Debt Repaid | -1.91B | -369.00K | ||||
| Total Debt Repaid | -3.95B | -3.95B | -1.32B | -176.00M | -743.13M | -564.84M |
| Net Debt Issued (Repaid) | 3.07B | 3.07B | 728.20M | 721.35M | -382.10M | 498.37M |
| Issuance of Common Stock | 286.61M | |||||
| Repurchase of Common Stock | -4.85B | -4.85B | -2.97B | -636.18M | ||
| Common Dividends Paid | -1.38B | -1.38B | -1.26B | -941.71M | -988.59M | |
| Other Financing Activities | -4.55B | 5.94B | 1.39B | 1.92B | 4.29B | 1.77B |
| Financing Cash Flow | -7.71B | 2.78B | -2.11B | 1.07B | 3.20B | 2.26B |
| Foreign Exchange Rate Adjustments | -51.64M | -50.45M | 12.04M | 9.62M | -18.19M | -3.41M |
| Net Cash Flow | -531.79M | 735.12M | -753.20M | -2.95B | 1.75B | 1.99B |
| Free Cash Flow | 8.60B | 10.84B | 9.19B | 7.03B | 5.90B | 5.76B |
| Free Cash Flow Margin | 51.26% | 56.46% | 53.54% | 43.18% | 35.61% | 34.65% |
| Free Cash Flow Per Share | 67.41 | 79.68 | 60.57 | 42.82 | 36.62 | 35.87 |
| Levered Free Cash Flow | 15.40B | 490.68M | 2.77B | -1.11B | 3.39B | 2.83B |
| Unlevered Free Cash Flow | 15.38B | 468.43M | 2.77B | -1.11B | 3.39B | 2.83B |
| Cash Interest Paid | 34.18M | 34.18M | 18.59M | 12.87M | 10.86M | 13.76M |
| Cash Income Tax Paid | 1.61B | 1.61B | 1.26B | 852.56M | 904.95M | 1.21B |
| Change in Working Capital | -953.86M | -953.86M | -1.12B | -3.21B | -5.12B | -4.88B |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 628.58M | 2.51B | 5.96B | 2.55B | 2.87B | 3.54B |
| Enterprise Value | 148.90M | 1.95B | 5.09B | 2.01B | 1.96B | 2.94B |
| Last Close Price | 5.17 | 17.27 | 32.90 | 12.90 | 15.94 | 17.10 |
| PE Ratio | 1.20 | 2.93 | 6.94 | 4.23 | 4.92 | 3.89 |
| Forward PE | 1.88 | 3.11 | 6.13 | 3.69 | 4.53 | 3.86 |
| PS Ratio | 0.25 | 0.91 | 2.53 | 1.11 | 1.20 | 1.35 |
| PB Ratio | 0.17 | 0.73 | 1.79 | 0.82 | 1.05 | 1.48 |
| P/TBV Ratio | 0.18 | 0.76 | 1.88 | 0.87 | 1.11 | 1.59 |
| P/FCF Ratio | 0.49 | 1.62 | 4.73 | 2.58 | 3.36 | 3.91 |
| P/OCF Ratio | 0.47 | 1.58 | 4.66 | 2.54 | 3.34 | 3.89 |
| PEG Ratio | 0.25 | 0.25 | 0.34 | 0.56 | 0.24 | |
| EV/Sales Ratio | 0.06 | 0.71 | 2.17 | 0.87 | 0.82 | 1.12 |
| EV/EBITDA Ratio | 0.17 | 1.62 | 4.60 | 1.78 | 1.51 | 1.88 |
| EV/EBIT Ratio | 0.17 | 1.64 | 4.64 | 1.80 | 1.53 | 1.90 |
| EV/FCF Ratio | 0.12 | 1.26 | 4.04 | 2.02 | 2.29 | 3.24 |
| Debt / Equity Ratio | 0.14 | 0.18 | 0.07 | 0.04 | 0.01 | 0.03 |
| Debt / EBITDA Ratio | 0.59 | 0.51 | 0.20 | 0.12 | 0.02 | 0.04 |
| Debt / FCF Ratio | 0.41 | 0.40 | 0.18 | 0.13 | 0.04 | 0.08 |
| Net Debt / Equity Ratio | -0.13 | -0.13 | -0.26 | -0.15 | -0.37 | -0.37 |
| Net Debt / EBITDA Ratio | -0.55 | -0.39 | -0.77 | -0.41 | -0.79 | -0.57 |
| Net Debt / FCF Ratio | -0.38 | -0.30 | -0.67 | -0.46 | -1.19 | -0.98 |
| Asset Turnover | 0.30 | 0.37 | 0.36 | 0.38 | 0.45 | 0.57 |
| Quick Ratio | 0.37 | 0.42 | 0.58 | 0.36 | 0.63 | 0.71 |
| Current Ratio | 2.17 | 2.43 | 2.45 | 2.00 | 2.04 | 1.96 |
| Return on Equity (ROE) | 15.26% | 24.69% | 27.02% | 20.85% | 23.46% | 46.68% |
| Return on Assets (ROA) | 6.55% | 9.93% | 10.65% | 11.48% | 14.96% | 21.30% |
| Return on Invested Capital (ROIC) | 20.01% | 34.71% | 34.45% | 41.72% | 69.57% | 109.20% |
| Return on Capital Employed (ROCE) | 17.60% | 22.80% | 26.10% | 30.50% | 37.50% | 50.90% |
| Earnings Yield | 83.56% | 34.14% | 14.40% | 23.66% | 20.32% | 25.68% |
| FCF Yield | 205.71% | 61.80% | 21.13% | 38.83% | 29.78% | 25.60% |
| Dividend Yield | 30.17% | 7.48% | 3.10% | 6.66% | 4.05% | 2.37% |
| Payout Ratio | 28.70% | 23.01% | 20.16% | 21.98% | 24.57% | |
| Buyback Yield / Dilution | 11.04% | 10.31% | 7.63% | -2.02% | -0.19% | -4.80% |
| Total Shareholder Return | 41.21% | 17.79% | 10.73% | 4.65% | 3.85% | -2.44% |