NASDAQ : SOHU
Sohu.com Limited — Financial statements
Communication Services · Electronic Gaming & Multimedia · China
Last price 13.2 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 344.11M
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Financial statements
Sohu.com Limited (SOHU) reported revenue of 599.25M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 581.50M | 565.71M | 575.85M | 568.39M | 688.66M | 773.19M |
| Other Revenue | 17.75M | 18.62M | 22.55M | 32.29M | 45.22M | 62.38M |
| Revenue | 599.25M | 584.33M | 598.40M | 600.67M | 733.87M | 835.58M |
| Cost of Revenue | 128.82M | 131.49M | 165.83M | 145.76M | 191.57M | 204.67M |
| Gross Profit | 470.43M | 452.84M | 432.57M | 454.92M | 542.30M | 630.90M |
| Selling, General & Admin | 254.48M | 262.19M | 286.73M | 262.38M | 282.40M | 264.57M |
| Research & Development | 256.49M | 247.51M | 255.23M | 279.84M | 260.77M | 268.86M |
| Operating Expenses | 510.97M | 509.69M | 541.97M | 542.23M | 543.17M | 533.43M |
| Operating Income | -40.54M | -56.85M | -109.40M | -87.31M | -873.00K | 97.47M |
| Interest Expense | -7.50M | |||||
| Interest & Investment Income | 31.22M | 34.78M | 44.65M | 49.93M | 30.74M | 20.90M |
| Currency Exchange Gain (Loss) | -4.01M | -1.41M | 464.00K | 692.00K | 6.52M | -3.46M |
| Other Non Operating Income (Expenses) | 14.54M | 10.37M | 16.43M | 29.61M | 21.55M | 18.02M |
| EBT Excluding Unusual Items | 1.20M | -13.10M | -47.86M | -7.07M | 57.94M | 125.43M |
| Impairment of Goodwill | -36.95M | -36.95M | ||||
| Gain (Loss) on Sale of Investments | 535.00K | 535.00K | -310.00K | 1.42M | -17.34M | 6.14M |
| Pretax Income | -35.22M | -49.52M | -48.17M | -5.65M | 40.60M | 131.57M |
| Income Tax Expense | -263.09M | -443.61M | 52.07M | 60.42M | 57.95M | 62.30M |
| Earnings From Continuing Operations | 227.87M | 394.09M | -100.24M | -66.07M | -17.34M | 69.27M |
| Earnings From Discontinued Operations | 734.00K | 35.43M | 858.45M | |||
| Net Income to Company | 228.60M | 394.09M | -100.24M | -30.64M | -17.34M | 927.72M |
| Minority Interest in Earnings | 9.00K | -31.00K | 265.00K | -2.00K | 3.00K | |
| Net Income | 228.60M | 394.10M | -100.27M | -30.38M | -17.34M | 927.73M |
| Net Income to Common | 228.60M | 394.10M | -100.27M | -30.38M | -17.34M | 927.73M |
| Shares Outstanding (Basic) | 26.40M | 28.23M | 32.01M | 34.11M | 34.95M | 39.50M |
| Shares Outstanding (Diluted) | 26.40M | 28.23M | 32.01M | 34.11M | 34.95M | 39.50M |
| EPS (Basic) | 8.66 | 13.96 | -3.13 | -0.89 | -0.50 | 23.49 |
| EPS (Diluted) | 8.65 | 13.96 | -3.13 | -0.89 | -0.50 | 23.49 |
| Free Cash Flow | -5.34M | -49.33M | -28.79M | 23.74M | -69.00M | |
| Free Cash Flow Per Share | -0.19 | -1.54 | -0.84 | 0.68 | -1.75 | |
| Gross Margin | 78.50% | 77.50% | 72.29% | 75.73% | 73.90% | 75.50% |
| Operating Margin | -6.77% | -9.73% | -18.28% | -14.54% | -0.12% | 11.67% |
| Profit Margin | 38.15% | 67.44% | -16.76% | -5.06% | -2.36% | 111.03% |
| Free Cash Flow Margin | -0.91% | -8.24% | -4.79% | 3.23% | -8.26% | |
| EBITDA | -15.37M | -31.85M | -84.73M | -57.06M | 30.43M | 133.43M |
| EBITDA Margin | -2.57% | -5.45% | -14.16% | -9.50% | 4.15% | 15.97% |
| D&A For EBITDA | 25.16M | 25.00M | 24.67M | 30.25M | 31.30M | 35.96M |
| EBIT | -40.54M | -56.85M | -109.40M | -87.31M | -873.00K | 97.47M |
| EBIT Margin | -6.77% | -9.73% | -18.28% | -14.54% | -0.12% | 11.67% |
| Effective Tax Rate | 142.71% | 47.35% | ||||
| Revenue as Reported | 599.25M | 584.33M | 598.40M | 600.67M | 733.87M | 835.58M |
| Advertising Expenses | 125.90M | 166.30M | 138.30M | 151.50M | 98.50M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 116.22M | 128.31M | 159.93M | 362.50M | 697.82M | 998.95M |
| Short-Term Investments | 716.75M | 702.37M | 744.50M | 597.77M | 473.62M | 399.35M |
| Cash & Short-Term Investments | 832.98M | 830.68M | 904.42M | 960.27M | 1.17B | 1.40B |
| Accounts Receivable | 37.45M | 43.34M | 53.76M | 71.62M | 67.54M | 82.55M |
| Other Receivables | 697.00K | 297.00K | 1.59M | 2.14M | 5.73M | |
| Receivables | 37.45M | 77.96M | 87.23M | 106.87M | 103.81M | 122.40M |
| Prepaid Expenses | 99.68M | 46.70M | 36.14M | 32.49M | 29.78M | 48.60M |
| Restricted Cash | 3.18M | 3.64M | 1.97M | |||
| Other Current Assets | 12.58M | 13.97M | 14.23M | 17.05M | 18.86M | |
| Total Current Assets | 970.10M | 967.92M | 1.04B | 1.12B | 1.33B | 1.59B |
| Property, Plant & Equipment | 248.44M | 246.26M | 252.86M | 272.41M | 290.70M | 335.20M |
| Long-Term Investments | 44.56M | 43.94M | 43.12M | 45.20M | 26.01M | 53.12M |
| Goodwill | 10.26M | 10.26M | 46.94M | 47.16M | 47.41M | 48.81M |
| Other Intangible Assets | 3.94M | 4.69M | 7.70M | 2.23M | 5.39M | 9.14M |
| Long-Term Deferred Tax Assets | 8.68M | 15.64M | 19.36M | |||
| Other Long-Term Assets | 340.29M | 362.98M | 342.29M | 389.38M | 266.89M | 190.03M |
| Total Assets | 1.62B | 1.64B | 1.73B | 1.88B | 1.98B | 2.25B |
| Accounts Payable | 37.06M | 36.22M | 36.04M | 44.61M | 56.45M | 87.45M |
| Accrued Expenses | 142.21M | 178.51M | 171.14M | 181.94M | 214.12M | 250.37M |
| Short-Term Debt | 34.12M | 34.12M | 34.12M | 34.12M | 34.12M | |
| Current Portion of Leases | 1.82M | 1.72M | 1.19M | 2.04M | 2.00M | |
| Current Income Taxes Payable | 11.47M | 15.57M | 14.22M | 11.36M | 10.61M | 16.71M |
| Current Unearned Revenue | 54.87M | 56.33M | 52.57M | 52.57M | 50.11M | 59.72M |
| Other Current Liabilities | 76.07M | 11.14M | 12.14M | 16.60M | 49.43M | 53.07M |
| Total Current Liabilities | 321.68M | 333.71M | 321.97M | 342.39M | 416.89M | 503.45M |
| Long-Term Debt | 1.79M | 3.92M | ||||
| Long-Term Leases | 264.00K | 322.00K | 1.66M | 2.13M | 340.00K | 3.14M |
| Long-Term Deferred Tax Liabilities | 7.93M | 273.70M | 261.51M | 247.81M | 249.16M | |
| Other Long-Term Liabilities | 11.53M | 16.02M | 214.66M | 216.78M | 200.23M | 193.92M |
| Total Liabilities | 333.47M | 357.98M | 811.98M | 822.82M | 867.07M | 953.60M |
| Common Stock | 1.28B | 26.00K | 30.00K | 34.00K | 34.00K | 39.00K |
| Additional Paid-In Capital | 784.34M | 839.95M | 866.55M | 866.46M | 965.33M | |
| Retained Earnings | 539.24M | 145.14M | 245.41M | 275.79M | 293.13M | |
| Treasury Stock | -3.09M | -4.64M | -6.56M | -18.78M | ||
| Comprehensive Income & Other | -42.78M | -58.15M | -46.48M | -32.84M | 51.15M | |
| Total Common Equity | 1.28B | 1.28B | 922.34M | 1.06B | 1.11B | 1.29B |
| Minority Interest | 344.00K | 344.00K | 353.00K | 322.00K | 1.27M | 1.32M |
| Shareholders' Equity | 1.28B | 1.28B | 922.69M | 1.06B | 1.11B | 1.29B |
| Total Liabilities & Equity | 1.62B | 1.64B | 1.73B | 1.88B | 1.98B | 2.25B |
| Total Debt | 264.00K | 36.27M | 37.51M | 37.44M | 38.30M | 43.19M |
| Net Cash (Debt) | 832.71M | 794.41M | 866.92M | 922.83M | 1.13B | 1.36B |
| Net Cash Per Share | 31.54 | 28.14 | 27.08 | 27.06 | 32.43 | 34.31 |
| Filing Date Shares Outstanding | 25.45M | 26.07M | 30.07M | 32.35M | 33.74M | 38.22M |
| Total Common Shares Outstanding | 25.45M | 26.07M | 30.07M | 32.35M | 33.74M | 38.22M |
| Working Capital | 648.42M | 634.21M | 719.79M | 774.65M | 908.83M | 1.09B |
| Book Value Per Share | 50.44 | 49.01 | 30.68 | 32.73 | 32.88 | 33.77 |
| Tangible Book Value | 1.27B | 1.26B | 867.70M | 1.01B | 1.06B | 1.23B |
| Tangible Book Value Per Share | 49.88 | 48.44 | 28.86 | 31.20 | 31.32 | 32.26 |
| Buildings | 363.94M | 355.86M | 361.17M | 367.30M | 401.22M | |
| Machinery | 85.41M | 89.51M | 99.51M | 119.80M | 133.55M | |
| Leasehold Improvements | 32.66M | 31.94M | 33.70M | 34.21M | 37.75M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 394.10M | -100.27M | -30.38M | -17.34M | 927.73M | |
| Depreciation & Amortization | 25.00M | 24.67M | 30.25M | 31.30M | 35.96M | |
| Asset Writedown & Restructuring Costs | 36.91M | 911.00K | 5.84M | 2.04M | 1.76M | |
| Loss (Gain) From Sale of Investments | -535.00K | 309.00K | -852.00K | 18.10M | -6.13M | |
| Stock-Based Compensation | 1.50M | -30.00K | 708.00K | 4.94M | 8.58M | |
| Provision & Write-off of Bad Debts | 916.00K | 1.34M | -310.00K | 116.00K | 7.97M | |
| Other Operating Activities | -268.48M | -5.30M | -986.00K | -10.63M | -861.83M | |
| Change in Accounts Receivable | 10.47M | 15.72M | -4.40M | 4.50M | 444.00K | |
| Change in Accounts Payable | -1.07M | -7.50M | -5.49M | -17.55M | -904.00K | |
| Change in Unearned Revenue | 2.64M | 904.00K | 3.44M | -4.61M | 3.78M | |
| Change in Income Taxes | -204.54M | 11.78M | 6.58M | 19.49M | -4.97M | |
| Change in Other Net Operating Assets | -1.67M | -8.23M | -18.83M | -19.98M | -25.00M | |
| Operating Cash Flow | -4.76M | -48.02M | -25.57M | 32.24M | -62.28M | |
| Capital Expenditures | -576.00K | -1.31M | -3.23M | -8.51M | -6.72M | |
| Sale (Purchase) of Intangibles | -9.08M | -18.61M | -15.19M | -15.34M | -35.49M | |
| Investment in Securities | 33.56M | -94.08M | -276.82M | -215.25M | -497.71M | |
| Other Investing Activities | 935.00K | 646.00K | 3.57M | 6.30M | 1.06B | |
| Investing Cash Flow | 24.84M | -113.36M | -291.67M | -232.79M | 516.73M | |
| Short-Term Debt Issued | 153.00M | |||||
| Total Debt Issued | 153.00M | |||||
| Long-Term Debt Repaid | -560.55M | |||||
| Net Debt Issued (Repaid) | -407.55M | |||||
| Repurchase of Common Stock | -54.08M | -40.88M | -6.56M | -82.14M | -17.42M | |
| Other Financing Activities | -9.13M | |||||
| Financing Cash Flow | -54.08M | -40.88M | -6.56M | -82.14M | -434.10M | |
| Foreign Exchange Rate Adjustments | 2.38M | -3.51M | -11.98M | -16.77M | 21.00M | |
| Net Cash Flow | -31.62M | -205.76M | -335.77M | -299.46M | 41.35M | |
| Free Cash Flow | -5.34M | -49.33M | -28.79M | 23.74M | -69.00M | |
| Free Cash Flow Margin | -0.91% | -8.24% | -4.79% | 3.23% | -8.26% | |
| Free Cash Flow Per Share | -0.19 | -1.54 | -0.84 | 0.68 | -1.75 | |
| Levered Free Cash Flow | -6.94M | -65.18M | -118.17M | -37.20M | 1.34B | |
| Unlevered Free Cash Flow | -6.94M | -65.18M | -118.17M | -37.20M | 1.34B | |
| Cash Interest Paid | 7.63M | |||||
| Cash Income Tax Paid | 29.65M | 16.79M | 28.05M | 39.64M | 46.15M | |
| Change in Working Capital | -194.17M | 30.35M | 5.59M | 3.71M | -414.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 338.64M | 470.22M | 426.41M | 335.01M | 462.52M | 639.91M |
| Enterprise Value | -494.08M | -403.38M | -502.77M | -590.13M | -665.72M | -928.46M |
| Last Close Price | 12.99 | 15.64 | 13.18 | 9.93 | 13.71 | 16.28 |
| PE Ratio | 1.50 | 1.19 | 0.69 | |||
| Forward PE | 112.88 | 112.88 | 112.88 | 112.88 | 12.60 | |
| PS Ratio | 0.57 | 0.81 | 0.71 | 0.56 | 0.63 | 0.77 |
| PB Ratio | 0.26 | 0.37 | 0.46 | 0.32 | 0.42 | 0.49 |
| P/TBV Ratio | 0.27 | 0.37 | 0.49 | 0.33 | 0.44 | 0.52 |
| P/FCF Ratio | 19.49 | |||||
| P/OCF Ratio | 14.35 | |||||
| Debt / Equity Ratio | 0.00 | 0.03 | 0.04 | 0.04 | 0.03 | 0.03 |
| Debt / EBITDA Ratio | 1.15 | 0.32 | ||||
| Debt / FCF Ratio | 1.61 | |||||
| Net Debt / Equity Ratio | -0.65 | -0.62 | -0.94 | -0.87 | -1.02 | -1.05 |
| Net Debt / EBITDA Ratio | 54.16 | 24.94 | 10.23 | 16.17 | -37.24 | -10.16 |
| Net Debt / FCF Ratio | 148.82 | 17.57 | 32.05 | -47.74 | 19.64 | |
| Asset Turnover | 0.36 | 0.35 | 0.33 | 0.31 | 0.35 | 0.33 |
| Quick Ratio | 2.71 | 2.62 | 2.98 | 3.02 | 2.98 | 2.95 |
| Current Ratio | 3.02 | 2.90 | 3.24 | 3.26 | 3.18 | 3.16 |
| Return on Equity (ROE) | 19.43% | 35.81% | -10.12% | -6.09% | -1.44% | 5.96% |
| Return on Assets (ROA) | -1.54% | -2.11% | -3.78% | -2.83% | -0.03% | 2.40% |
| Return on Invested Capital (ROIC) | -8.79% | -21.08% | -113.83% | -63.99% | ||
| Return on Capital Employed (ROCE) | -3.10% | -4.40% | -7.70% | -5.70% | -0.10% | 5.60% |
| Earnings Yield | 66.61% | 83.81% | -23.52% | -9.07% | -3.75% | 144.98% |
| FCF Yield | -1.58% | -1.14% | -11.57% | -8.59% | 5.13% | -10.78% |
| Buyback Yield / Dilution | 12.97% | 11.79% | 6.16% | 2.39% | 11.53% | -0.12% |