NYSE : CMCM
Cheetah Mobile Inc. — Financial statements
Communication Services · Internet Content & Information · China
Last price 2.44 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 75.73M
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Financial statements
Cheetah Mobile Inc. (CMCM) reported revenue of 1.12B 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 | 563.78M | 615.28M | 517.19M | 450.13M | 697.39M | 653.76M |
| Other Revenue | 557.55M | 535.16M | 289.69M | 219.37M | 186.68M | 130.86M |
| Revenue | 1.12B | 1.15B | 806.88M | 669.50M | 884.07M | 784.62M |
| Cost of Revenue | 366.40M | 316.41M | 261.68M | 231.94M | 252.56M | 257.66M |
| Gross Profit | 754.93M | 834.03M | 545.20M | 437.56M | 631.50M | 526.96M |
| Selling, General & Admin | 583.97M | 629.26M | 586.81M | 472.06M | 691.19M | 562.14M |
| Research & Development | 334.31M | 346.15M | 243.39M | 178.21M | 180.96M | 211.59M |
| Other Operating Expenses | -1.19M | -3.50M | -637.00K | -3.28M | -15.05M | -17.20M |
| Operating Expenses | 917.09M | 971.91M | 829.56M | 646.99M | 857.10M | 756.53M |
| Operating Income | -162.16M | -137.88M | -284.37M | -209.43M | -225.59M | -229.57M |
| Interest Expense | -1.10M | |||||
| Interest & Investment Income | 21.67M | 30.63M | 44.42M | 62.08M | 35.71M | 27.95M |
| Currency Exchange Gain (Loss) | 62.80M | 30.78M | -21.73M | -11.42M | -95.43M | 24.29M |
| Other Non Operating Income (Expenses) | -125.57M | -80.03M | -23.22M | 44.95M | -14.46M | 76.01M |
| EBT Excluding Unusual Items | -203.26M | -156.50M | -284.89M | -114.92M | -299.77M | -101.33M |
| Impairment of Goodwill | -152.89M | |||||
| Gain (Loss) on Sale of Investments | -28.62M | -28.62M | -116.55M | -522.32M | -246.01M | -238.25M |
| Asset Writedown | -41.56M | -41.56M | -412.00K | |||
| Pretax Income | -273.45M | -226.68M | -554.33M | -637.65M | -545.78M | -339.57M |
| Income Tax Expense | 15.61M | 8.47M | 47.26M | -43.78M | -25.09M | 13.63M |
| Earnings From Continuing Operations | -289.05M | -235.15M | -601.59M | -593.87M | -520.69M | -353.20M |
| Minority Interest in Earnings | -25.05M | -22.56M | -15.97M | -9.03M | 7.22M | 2.08M |
| Net Income | -314.10M | -257.71M | -617.56M | -602.90M | -513.48M | -351.13M |
| Preferred Dividends & Other Adjustments | 11.33M | 11.33M | 7.84M | -107.00K | -8.71M | 2.01M |
| Net Income to Common | -325.44M | -269.05M | -625.40M | -602.79M | -504.76M | -353.13M |
| Shares Outstanding (Basic) | 31.03M | 30.67M | 30.06M | 29.45M | 28.87M | 28.60M |
| Shares Outstanding (Diluted) | 31.03M | 30.67M | 30.06M | 29.45M | 28.87M | 28.60M |
| EPS (Basic) | -10.49 | -8.77 | -20.80 | -20.47 | -17.48 | -12.35 |
| EPS (Diluted) | -10.51 | -8.82 | -20.81 | -20.50 | -18.10 | -12.35 |
| Free Cash Flow | -185.10M | -261.15M | 540.78M | -431.03M | 55.99M | |
| Free Cash Flow Per Share | -6.04 | -8.69 | 18.36 | -14.93 | 1.96 | |
| Gross Margin | 67.32% | 72.50% | 67.57% | 65.36% | 71.43% | 67.16% |
| Operating Margin | -14.46% | -11.98% | -35.24% | -31.28% | -25.52% | -29.26% |
| Profit Margin | -29.02% | -23.39% | -77.51% | -90.04% | -57.09% | -45.01% |
| Free Cash Flow Margin | -16.09% | -32.37% | 80.77% | -48.76% | 7.14% | |
| EBITDA | 32.96M | 9.36M | -232.91M | -174.16M | -172.57M | -178.75M |
| EBITDA Margin | 2.94% | 0.81% | -28.87% | -26.01% | -19.52% | -22.78% |
| D&A For EBITDA | 195.13M | 147.24M | 51.45M | 35.26M | 53.02M | 50.82M |
| EBIT | -162.16M | -137.88M | -284.37M | -209.43M | -225.59M | -229.57M |
| EBIT Margin | -14.46% | -11.98% | -35.24% | -31.28% | -25.52% | -29.26% |
| Revenue as Reported | 1.12B | 1.15B | 806.88M | 669.50M | 884.07M | 784.62M |
| Advertising Expenses | 201.88M | 188.79M | 127.79M | 361.36M | 242.35M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.27B | 1.51B | 1.83B | 2.02B | 1.52B | 1.58B |
| Short-Term Investments | 445.00K | 9.53M | 335.00K | 1.02M | 156.18M | 262.81M |
| Cash & Short-Term Investments | 1.27B | 1.52B | 1.83B | 2.02B | 1.67B | 1.85B |
| Accounts Receivable | 824.46M | 524.29M | 520.55M | 410.73M | 482.87M | 271.64M |
| Other Receivables | 928.21M | 1.14B | 807.73M | 820.62M | 311.50M | |
| Receivables | 824.46M | 1.48B | 1.70B | 1.25B | 1.31B | 591.38M |
| Inventory | 53.65M | 46.73M | 28.04M | 4.28M | 15.41M | |
| Prepaid Expenses | 26.68M | 24.46M | 26.14M | 25.51M | 29.59M | |
| Restricted Cash | 696.00K | 781.00K | ||||
| Other Current Assets | 1.17B | 153.01M | 176.59M | 142.50M | 107.64M | 114.58M |
| Total Current Assets | 3.27B | 3.23B | 3.78B | 3.47B | 3.12B | 2.60B |
| Property, Plant & Equipment | 58.56M | 57.07M | 77.89M | 84.33M | 98.31M | 146.97M |
| Long-Term Investments | 600.05M | 688.46M | 817.33M | 937.46M | 1.79B | 1.99B |
| Goodwill | 460.03M | 460.03M | 424.10M | 576.99M | ||
| Other Intangible Assets | 48.19M | 54.07M | 190.66M | 218.56M | 8.43M | 10.05M |
| Long-Term Accounts Receivable | 111.33M | |||||
| Long-Term Deferred Tax Assets | 117.67M | 112.91M | 128.58M | 188.50M | 19.34M | 14.38M |
| Other Long-Term Assets | 89.40M | 77.52M | 86.06M | 160.43M | 97.32M | 102.69M |
| Total Assets | 4.64B | 4.68B | 5.50B | 5.63B | 5.14B | 4.98B |
| Accounts Payable | 413.20M | 211.69M | 219.57M | 170.19M | 133.79M | 135.69M |
| Accrued Expenses | 2.16B | 1.73B | 2.21B | 1.99B | 1.19B | 801.36M |
| Short-Term Debt | 2.90M | 5.00M | ||||
| Current Portion of Long-Term Debt | 49.69M | |||||
| Current Portion of Leases | 9.02M | 12.68M | 13.29M | 14.38M | 17.45M | |
| Current Income Taxes Payable | 56.36M | 54.43M | 35.80M | 31.60M | 35.13M | 43.91M |
| Current Unearned Revenue | 457.29M | 460.40M | 372.20M | 330.64M | 294.26M | |
| Other Current Liabilities | 25.20M | 36.66M | 139.22M | 145.53M | 72.08M | 61.22M |
| Total Current Liabilities | 2.66B | 2.55B | 3.08B | 2.73B | 1.78B | 1.35B |
| Long-Term Leases | 6.22M | 12.93M | 17.70M | 27.09M | 30.68M | |
| Long-Term Deferred Tax Liabilities | 20.55M | 21.71M | 43.05M | 54.54M | 55.77M | 58.56M |
| Other Long-Term Liabilities | 155.18M | 148.20M | 159.42M | 172.24M | 173.25M | 175.04M |
| Total Liabilities | 2.84B | 2.73B | 3.30B | 2.97B | 2.03B | 1.62B |
| Common Stock | 257.00K | 254.00K | 248.00K | 244.00K | 236.00K | 235.00K |
| Additional Paid-In Capital | 2.74B | 2.74B | 2.72B | 2.71B | 2.69B | 2.69B |
| Retained Earnings | -1.60B | -1.49B | -1.23B | -613.10M | -9.42M | 505.08M |
| Comprehensive Income & Other | 297.69M | 362.25M | 410.42M | 356.85M | 353.95M | 88.26M |
| Total Common Equity | 1.43B | 1.61B | 1.90B | 2.46B | 3.03B | 3.28B |
| Minority Interest | 368.29M | 350.68M | 306.53M | 204.69M | 71.45M | 81.02M |
| Shareholders' Equity | 1.80B | 1.96B | 2.21B | 2.66B | 3.10B | 3.36B |
| Total Liabilities & Equity | 4.64B | 4.68B | 5.50B | 5.63B | 5.14B | 4.98B |
| Total Debt | 2.90M | 64.94M | 25.61M | 35.99M | 41.47M | 48.13M |
| Net Cash (Debt) | 1.27B | 1.45B | 1.81B | 1.99B | 1.63B | 1.80B |
| Net Cash Per Share | 40.88 | 47.32 | 60.14 | 67.40 | 56.47 | 62.89 |
| Filing Date Shares Outstanding | 31.08M | 31.04M | 30.32M | 29.88M | 28.99M | 28.65M |
| Total Common Shares Outstanding | 31.08M | 31.04M | 30.32M | 29.88M | 28.99M | 28.65M |
| Working Capital | 604.66M | 684.41M | 697.90M | 738.76M | 1.35B | 1.24B |
| Book Value Per Share | 46.16 | 51.80 | 62.69 | 82.18 | 104.64 | 114.44 |
| Tangible Book Value | 926.33M | 1.09B | 1.29B | 1.66B | 3.02B | 3.27B |
| Tangible Book Value Per Share | 29.81 | 35.23 | 42.41 | 55.56 | 104.34 | 114.09 |
| Machinery | 125.42M | 157.46M | 253.24M | 237.93M | 241.51M | |
| Construction In Progress | 404.00K | 119.00K | 48.00K | |||
| Leasehold Improvements | 29.28M | 27.38M | 19.19M | 14.54M | 14.52M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -257.71M | -617.56M | -602.90M | -513.48M | -351.13M | |
| Depreciation & Amortization | 147.24M | 51.45M | 35.26M | 53.02M | 50.82M | |
| Loss (Gain) From Sale of Assets | 69.00K | 19.58M | -31.75M | -7.51M | 2.93M | |
| Asset Writedown & Restructuring Costs | 121.04M | 273.53M | 534.83M | 261.83M | 394.98M | |
| Loss (Gain) From Sale of Investments | -9.11M | 9.32M | -21.79M | -6.88M | -182.75M | |
| Loss (Gain) on Equity Investments | 11.65M | 16.57M | 2.56M | 12.14M | -60.99M | |
| Stock-Based Compensation | 19.84M | 26.10M | 33.55M | 7.86M | 7.15M | |
| Provision & Write-off of Bad Debts | 70.19M | 10.99M | 12.36M | 29.56M | 13.69M | |
| Other Operating Activities | -19.25M | 85.88M | -23.86M | 81.73M | -12.42M | |
| Change in Accounts Receivable | -5.81M | -77.52M | -122.48M | -103.57M | 56.99M | |
| Change in Accounts Payable | -7.71M | 47.73M | 9.70M | -10.39M | 31.27M | |
| Change in Income Taxes | 19.49M | 3.86M | -3.53M | -11.78M | 17.95M | |
| Change in Other Net Operating Assets | -262.18M | -88.27M | 728.50M | -216.80M | 134.31M | |
| Operating Cash Flow | -172.26M | -238.32M | 550.46M | -424.25M | 102.81M | |
| Capital Expenditures | -12.85M | -22.83M | -9.68M | -6.78M | -46.82M | |
| Sale of Property, Plant & Equipment | 3.55M | 31.75M | 7.52M | 199.00K | ||
| Cash Acquisitions | -31.36M | -238.15M | ||||
| Divestitures | 45.04M | |||||
| Investment in Securities | -22.99M | -14.82M | 169.36M | 190.32M | 274.36M | |
| Other Investing Activities | 4.80M | -61.15M | ||||
| Investing Cash Flow | -65.57M | -34.09M | -49.06M | 189.05M | 220.84M | |
| Long-Term Debt Repaid | -44.74M | -5.00M | ||||
| Net Debt Issued (Repaid) | -44.74M | -5.00M | ||||
| Issuance of Common Stock | 1.92M | |||||
| Other Financing Activities | -21.40M | 74.11M | -6.78M | -4.87M | -9.64M | |
| Financing Cash Flow | -64.22M | 69.11M | -6.78M | -4.87M | -9.64M | |
| Foreign Exchange Rate Adjustments | -24.36M | 16.14M | 9.07M | 171.85M | -29.75M | |
| Net Cash Flow | -326.41M | -187.16M | 503.70M | -68.21M | 284.25M | |
| Free Cash Flow | -185.10M | -261.15M | 540.78M | -431.03M | 55.99M | |
| Free Cash Flow Margin | -16.09% | -32.37% | 80.77% | -48.76% | 7.14% | |
| Free Cash Flow Per Share | -6.04 | -8.69 | 18.36 | -14.93 | 1.96 | |
| Levered Free Cash Flow | -281.71M | -264.37M | 879.28M | -359.15M | 173.33M | |
| Unlevered Free Cash Flow | -281.71M | -264.37M | 879.97M | -359.15M | 173.33M | |
| Cash Interest Paid | 4.95M | 57.00K | 8.00K | |||
| Cash Income Tax Paid | 11.73M | 2.69M | 1.75M | 12.37M | 5.97M | |
| Change in Working Capital | -256.21M | -114.19M | 612.20M | -342.54M | 240.53M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 71.23M | 181.89M | 137.46M | 66.10M | 52.28M | 192.91M |
| Enterprise Value | -115.51M | 9.16M | -37.66M | -209.06M | -218.87M | -88.00M |
| Last Close Price | 2.43 | 6.00 | 4.60 | 2.28 | 1.84 | 6.85 |
| Forward PE | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 | |
| PS Ratio | 0.46 | 1.11 | 1.24 | 0.70 | 0.41 | 1.56 |
| PB Ratio | 0.36 | 0.65 | 0.46 | 0.18 | 0.12 | 0.36 |
| P/TBV Ratio | 0.55 | 1.16 | 0.78 | 0.28 | 0.12 | 0.38 |
| P/FCF Ratio | 0.87 | 21.89 | ||||
| P/OCF Ratio | 0.85 | 11.92 | ||||
| PEG Ratio | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | |
| EV/Sales Ratio | 0.06 | |||||
| EV/EBITDA Ratio | 6.85 | |||||
| Debt / Equity Ratio | 0.00 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 0.05 | 2.16 | ||||
| Debt / FCF Ratio | 0.07 | 0.86 | ||||
| Net Debt / Equity Ratio | -0.70 | -0.74 | -0.82 | -0.75 | -0.53 | -0.54 |
| Net Debt / EBITDA Ratio | -38.48 | -155.13 | 7.76 | 11.40 | 9.45 | 10.06 |
| Net Debt / FCF Ratio | 7.84 | 6.92 | -3.67 | 3.78 | -32.12 | |
| Asset Turnover | 0.23 | 0.23 | 0.14 | 0.12 | 0.17 | 0.15 |
| Inventory Turnover | 6.30 | 7.00 | 14.35 | 25.64 | 13.05 | |
| Quick Ratio | 0.79 | 1.16 | 1.13 | 1.19 | 1.67 | 1.79 |
| Current Ratio | 1.23 | 1.27 | 1.23 | 1.27 | 1.76 | 1.92 |
| Return on Equity (ROE) | -14.57% | -11.29% | -24.72% | -20.60% | -16.11% | -9.88% |
| Return on Assets (ROA) | -2.05% | -1.69% | -3.19% | -2.43% | -2.79% | -2.71% |
| Return on Invested Capital (ROIC) | -27.87% | -30.42% | -52.92% | -19.48% | -14.86% | -12.38% |
| Return on Capital Employed (ROCE) | -8.20% | -6.50% | -11.70% | -7.20% | -6.70% | -6.30% |
| Earnings Yield | -67.41% | -20.26% | -61.55% | -128.64% | -142.40% | -28.65% |
| FCF Yield | -36.90% | -14.55% | -26.03% | 115.38% | -119.54% | 4.57% |
| Buyback Yield / Dilution | -2.47% | -2.02% | -2.07% | -2.00% | -0.95% | -0.63% |