NYSE : RERE
ATRenew Inc. — Financial statements
Consumer Discretionary · Internet Retail · China
Last price 4.12 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 910.56M
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Financial statements
ATRenew Inc. (RERE) reported revenue of 24.17B 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 | |
|---|---|---|---|---|---|---|
| Revenue | 24.17B | 21.05B | 16.33B | 12.97B | 9.87B | 7.78B |
| Cost of Revenue | 19.16B | 16.70B | 13.09B | 10.34B | 7.60B | 5.74B |
| Gross Profit | 5.01B | 4.35B | 3.24B | 2.63B | 2.27B | 2.04B |
| Selling, General & Admin | 4.13B | 3.69B | 3.06B | 2.64B | 2.89B | 2.70B |
| Research & Development | 277.09M | 243.91M | 210.36M | 195.68M | 227.81M | 264.56M |
| Other Operating Expenses | -48.82M | -42.24M | -53.43M | -36.26M | -41.24M | -26.95M |
| Operating Expenses | 4.35B | 3.89B | 3.21B | 2.80B | 3.08B | 2.94B |
| Operating Income | 656.03M | 456.18M | 28.97M | -173.34M | -803.73M | -895.07M |
| Interest Expense | -6.70M | -6.04M | -15.02M | -7.06M | -6.16M | -16.78M |
| Interest & Investment Income | 13.43M | 20.50M | 26.86M | 37.88M | 17.78M | 8.37M |
| Earnings From Equity Investments | -69.91M | -67.26M | -64.66M | -50.37M | -6.47M | -6.56M |
| Other Non Operating Income (Expenses) | -14.59M | 5.40M | -5.66M | -1.11M | 87.41M | -22.24M |
| EBT Excluding Unusual Items | 578.26M | 408.78M | -29.51M | -194.01M | -711.18M | -932.28M |
| Impairment of Goodwill | -1.82B | |||||
| Gain (Loss) on Sale of Investments | -15.74M | -15.74M | -35.59M | -4.77M | -48.62M | -28.13M |
| Pretax Income | 562.51M | 393.04M | -65.11M | -198.78M | -2.58B | -960.41M |
| Income Tax Expense | 77.14M | 56.75M | -56.88M | -42.53M | -111.78M | -143.86M |
| Net Income | 485.38M | 336.29M | -8.23M | -156.25M | -2.47B | -816.55M |
| Preferred Dividends & Other Adjustments | 508.63M | |||||
| Net Income to Common | 485.38M | 336.29M | -8.23M | -156.25M | -2.47B | -1.33B |
| Shares Outstanding (Basic) | 241.78M | 241.97M | 242.43M | 243.24M | 244.23M | 144.46M |
| Shares Outstanding (Diluted) | 242.28M | 243.29M | 242.43M | 243.24M | 244.23M | 144.46M |
| EPS (Basic) | 2.01 | 1.39 | -0.03 | -0.64 | -10.11 | -9.17 |
| EPS (Diluted) | 2.00 | 1.38 | -0.03 | -0.64 | -10.11 | -9.17 |
| Free Cash Flow | -558.85M | 582.95M | 158.72M | 819.83M | -1.09B | |
| Free Cash Flow Per Share | -2.30 | 2.40 | 0.65 | 3.36 | -7.56 | |
| Gross Margin | 20.73% | 20.66% | 19.86% | 20.26% | 23.03% | 26.28% |
| Operating Margin | 2.71% | 2.17% | 0.18% | -1.34% | -8.14% | -11.50% |
| Profit Margin | 2.01% | 1.60% | -0.05% | -1.21% | -25.01% | -17.03% |
| Free Cash Flow Margin | -2.66% | 3.57% | 1.22% | 8.31% | -14.03% | |
| EBITDA | 696.94M | 572.47M | 296.03M | 160.39M | -398.32M | -521.33M |
| EBITDA Margin | 2.88% | 2.72% | 1.81% | 1.24% | -4.04% | -6.70% |
| D&A For EBITDA | 40.91M | 116.30M | 267.06M | 333.73M | 405.41M | 373.75M |
| EBIT | 656.03M | 456.18M | 28.97M | -173.34M | -803.73M | -895.07M |
| EBIT Margin | 2.71% | 2.17% | 0.18% | -1.34% | -8.14% | -11.50% |
| Effective Tax Rate | 13.71% | 14.44% | ||||
| Advertising Expenses | 196.81M | 122.48M | 124.66M | 82.92M | 82.34M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.53B | 1.54B | 1.97B | 1.98B | 1.70B | 1.36B |
| Short-Term Investments | 252.47M | 268.28M | 584.60M | 452.04M | 818.03M | 537.35M |
| Cash & Short-Term Investments | 1.78B | 1.81B | 2.55B | 2.43B | 2.52B | 1.89B |
| Accounts Receivable | 122.78M | 131.60M | 58.98M | 40.76M | 148.26M | 16.29M |
| Other Receivables | 375.05M | 207.92M | 140.50M | 242.70M | 258.39M | 550.03M |
| Receivables | 497.84M | 451.88M | 333.94M | 405.99M | 406.66M | 568.19M |
| Inventory | 1.47B | 1.07B | 535.07M | 1.02B | 433.47M | 478.75M |
| Restricted Cash | 1.00M | 500.00K | 132.00M | 210.00M | 150.00M | |
| Other Current Assets | 1.35B | 1.41B | 613.56M | 462.84M | 528.40M | 1.06B |
| Total Current Assets | 5.09B | 4.74B | 4.17B | 4.53B | 3.89B | 4.15B |
| Property, Plant & Equipment | 232.13M | 371.99M | 284.36M | 204.17M | 118.60M | 173.46M |
| Long-Term Investments | 443.04M | 785.40M | 556.14M | 467.10M | 219.58M | 241.53M |
| Goodwill | 1.80B | |||||
| Other Intangible Assets | 9.10M | 10.65M | 56.60M | 270.63M | 544.65M | 1.08B |
| Other Long-Term Assets | 529.83M | 56.60M | 24.27M | 24.47M | 275.74M | 57.71M |
| Total Assets | 6.30B | 5.97B | 5.09B | 5.49B | 5.05B | 7.50B |
| Accounts Payable | 208.00M | 335.62M | 171.36M | 532.29M | 73.33M | 41.31M |
| Accrued Expenses | 960.24M | 189.90M | 179.69M | 146.37M | 132.47M | 105.79M |
| Short-Term Debt | 455.85M | 322.86M | 225.00M | 349.93M | 123.98M | 95.00M |
| Current Portion of Leases | 63.72M | 49.99M | 33.51M | 46.43M | 35.95M | |
| Current Income Taxes Payable | 187.14M | 95.73M | 69.42M | 90.41M | 38.21M | |
| Current Unearned Revenue | 358.23M | 231.77M | 98.83M | 119.72M | 195.37M | 211.96M |
| Other Current Liabilities | 174.66M | 572.15M | 486.38M | 440.23M | 360.26M | 296.45M |
| Total Current Liabilities | 2.16B | 1.90B | 1.31B | 1.69B | 1.02B | 824.66M |
| Long-Term Leases | 78.72M | 70.03M | 79.93M | 22.50M | 33.52M | 34.50M |
| Long-Term Deferred Tax Liabilities | 2.12M | 2.35M | 9.24M | 67.66M | 111.31M | 223.14M |
| Total Liabilities | 2.24B | 1.98B | 1.40B | 1.78B | 1.17B | 1.08B |
| Common Stock | 4.07B | 963.00K | 953.00K | 921.00K | 921.00K | 921.00K |
| Additional Paid-In Capital | 13.38B | 13.36B | 13.27B | 13.13B | 12.95B | |
| Retained Earnings | -8.84B | -9.17B | -9.16B | -9.01B | -6.54B | |
| Treasury Stock | -546.45M | -483.81M | -377.99M | -217.92M | ||
| Comprehensive Income & Other | -12.96M | -9.47M | -16.82M | -25.71M | 4.32M | |
| Total Common Equity | 4.07B | 3.99B | 3.69B | 3.71B | 3.88B | 6.42B |
| Shareholders' Equity | 4.07B | 3.99B | 3.69B | 3.71B | 3.88B | 6.42B |
| Total Liabilities & Equity | 6.30B | 5.97B | 5.09B | 5.49B | 5.05B | 7.50B |
| Total Debt | 534.57M | 456.61M | 354.93M | 405.94M | 203.93M | 165.45M |
| Net Cash (Debt) | 1.24B | 1.35B | 2.20B | 2.02B | 2.32B | 1.73B |
| Net Cash Per Share | 5.13 | 5.55 | 9.07 | 8.32 | 9.49 | 11.96 |
| Filing Date Shares Outstanding | 241.71M | 221.01M | 223.31M | 219.48M | 223.82M | 226.41M |
| Total Common Shares Outstanding | 241.71M | 221.01M | 223.31M | 219.48M | 223.82M | 226.41M |
| Working Capital | 2.93B | 2.84B | 2.86B | 2.84B | 2.87B | 3.33B |
| Book Value Per Share | 16.82 | 18.06 | 16.54 | 16.91 | 17.34 | 28.36 |
| Tangible Book Value | 4.06B | 3.98B | 3.64B | 3.44B | 3.34B | 3.54B |
| Tangible Book Value Per Share | 16.79 | 18.01 | 16.29 | 15.68 | 14.91 | 15.64 |
| Buildings | 24.52M | 24.52M | ||||
| Machinery | 325.27M | 215.15M | 172.74M | 143.66M | 121.39M | |
| Construction In Progress | 2.41M | 1.69M | 27.52M | 7.64M | 6.20M | |
| Leasehold Improvements | 194.22M | 155.68M | 139.25M | 124.99M | 106.71M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 336.29M | -8.23M | -156.25M | -2.47B | -816.55M | |
| Depreciation & Amortization | 116.30M | 267.06M | 333.73M | 405.41M | 373.75M | |
| Loss (Gain) From Sale of Assets | 2.57M | 3.76M | 5.35M | 1.89M | 658.00K | |
| Asset Writedown & Restructuring Costs | 2.10B | |||||
| Loss (Gain) From Sale of Investments | 15.74M | 35.59M | 4.77M | 48.62M | 28.24M | |
| Loss (Gain) on Equity Investments | 67.26M | 64.66M | 50.37M | 6.47M | 6.56M | |
| Stock-Based Compensation | 52.88M | 166.74M | 134.40M | 174.24M | 454.55M | |
| Provision & Write-off of Bad Debts | 21.36M | 13.15M | 24.67M | 5.87M | 2.09M | |
| Other Operating Activities | 79.05M | 67.33M | 102.93M | 14.07M | 59.36M | |
| Change in Accounts Receivable | -71.42M | -4.29M | 93.81M | |||
| Change in Inventory | -571.42M | 461.55M | -629.44M | 36.41M | -304.38M | |
| Change in Accounts Payable | 164.27M | -360.94M | 458.96M | 14.47M | 14.11M | |
| Change in Unearned Revenue | 132.94M | -20.88M | -75.65M | -16.59M | 178.08M | |
| Change in Other Net Operating Assets | -753.49M | 15.71M | -60.10M | 672.95M | -870.57M | |
| Operating Cash Flow | -414.57M | 642.81M | 243.90M | 881.30M | -1.02B | |
| Capital Expenditures | -144.28M | -59.86M | -85.18M | -61.46M | -73.92M | |
| Sale of Property, Plant & Equipment | 5.74M | 1.52M | 1.24M | 5.52M | 2.90M | |
| Cash Acquisitions | 29.87M | |||||
| Investment in Securities | 392.00K | -361.82M | 249.48M | -303.61M | -628.99M | |
| Other Investing Activities | 6.05M | -180.00M | 33.62M | |||
| Investing Cash Flow | -136.15M | -424.40M | 172.01M | -516.68M | -670.40M | |
| Short-Term Debt Issued | 563.86M | 844.63M | 623.91M | 185.98M | 253.70M | |
| Total Debt Issued | 563.86M | 844.63M | 623.91M | 185.98M | 253.70M | |
| Short-Term Debt Repaid | -466.00M | -969.56M | -397.97M | -156.97M | -560.97M | |
| Total Debt Repaid | -466.00M | -969.56M | -397.97M | -156.97M | -560.97M | |
| Net Debt Issued (Repaid) | 97.86M | -124.93M | 225.95M | 29.01M | -307.27M | |
| Issuance of Common Stock | 2.46M | 1.52M | 2.82M | 2.86M | 1.49B | |
| Repurchase of Common Stock | -92.27M | -184.29M | -160.07M | -217.92M | ||
| Other Financing Activities | -21.72M | -30.20M | ||||
| Financing Cash Flow | -13.68M | -307.71M | 68.70M | -186.04M | 2.29B | |
| Foreign Exchange Rate Adjustments | 179.00K | 1.29M | 2.46M | 18.41M | -12.99M | |
| Net Cash Flow | -564.22M | -88.01M | 487.07M | 196.98M | 588.27M | |
| Free Cash Flow | -558.85M | 582.95M | 158.72M | 819.83M | -1.09B | |
| Free Cash Flow Margin | -2.66% | 3.57% | 1.22% | 8.31% | -14.03% | |
| Free Cash Flow Per Share | -2.30 | 2.40 | 0.65 | 3.36 | -7.56 | |
| Levered Free Cash Flow | -530.18M | 588.06M | -1.07M | 1.06B | -1.16B | |
| Unlevered Free Cash Flow | -526.41M | 597.44M | 3.34M | 1.06B | -1.15B | |
| Cash Interest Paid | 6.04M | 15.02M | 7.06M | 6.16M | 16.78M | |
| Change in Working Capital | -1.11B | 32.74M | -256.08M | 595.41M | -1.13B |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 886.25M | 1.18B | 632.11M | 429.74M | 654.34M | 1.31B |
| Enterprise Value | 703.20M | 909.99M | 405.47M | 215.90M | 349.47M | 979.03M |
| Last Close Price | 3.90 | 5.18 | 2.81 | 1.88 | 2.82 | 5.81 |
| PE Ratio | 13.59 | 24.62 | ||||
| Forward PE | 8.56 | 14.95 | 9.92 | 16.29 | 13.29 | |
| PS Ratio | 0.25 | 0.39 | 0.28 | 0.23 | 0.46 | 1.07 |
| PB Ratio | 1.57 | 2.08 | 1.25 | 0.82 | 1.16 | 1.29 |
| P/TBV Ratio | 1.50 | 2.08 | 1.27 | 0.89 | 1.35 | 2.35 |
| P/FCF Ratio | 7.92 | 19.20 | 5.50 | |||
| P/OCF Ratio | 7.18 | 12.49 | 5.12 | |||
| EV/Sales Ratio | 0.20 | 0.30 | 0.18 | 0.12 | 0.24 | 0.80 |
| EV/EBITDA Ratio | 6.94 | 11.12 | 10.00 | 9.54 | ||
| EV/EBIT Ratio | 7.37 | 13.95 | 102.16 | |||
| EV/FCF Ratio | 5.08 | 9.65 | 2.94 | |||
| Debt / Equity Ratio | 0.13 | 0.11 | 0.10 | 0.11 | 0.05 | 0.03 |
| Debt / EBITDA Ratio | 0.66 | 0.66 | 0.81 | 1.43 | ||
| Debt / FCF Ratio | 0.61 | 2.56 | 0.25 | |||
| Net Debt / Equity Ratio | -0.31 | -0.34 | -0.59 | -0.55 | -0.60 | -0.27 |
| Net Debt / EBITDA Ratio | -1.78 | -2.36 | -7.43 | -12.62 | 5.82 | 3.31 |
| Net Debt / FCF Ratio | 2.41 | -3.77 | -12.76 | -2.83 | 1.58 | |
| Asset Turnover | 4.20 | 3.81 | 3.09 | 2.46 | 1.57 | 1.22 |
| Inventory Turnover | 16.80 | 20.76 | 16.86 | 14.25 | 16.66 | 17.49 |
| Quick Ratio | 1.05 | 1.13 | 2.11 | 1.60 | 2.87 | 2.98 |
| Current Ratio | 2.36 | 2.49 | 3.19 | 2.68 | 3.81 | 5.03 |
| Return on Equity (ROE) | 12.35% | 8.75% | -0.22% | -4.12% | -47.91% | -16.19% |
| Return on Assets (ROA) | 7.13% | 5.16% | 0.34% | -2.05% | -8.00% | -8.79% |
| Return on Invested Capital (ROIC) | 19.30% | 18.87% | 1.82% | -10.66% | -25.69% | -22.60% |
| Return on Capital Employed (ROCE) | 15.80% | 11.20% | 0.80% | -4.60% | -20.00% | -13.40% |
| Earnings Yield | 7.36% | 4.06% | -0.18% | -5.13% | -54.68% | -9.82% |
| FCF Yield | -9.39% | -6.75% | 12.63% | 5.21% | 18.17% | -13.13% |
| Buyback Yield / Dilution | -0.61% | -0.36% | 0.33% | 0.40% | -69.06% | -412.74% |