DouYu International Holdings (DOYU) financial statements

· Market cap $120M

DouYu International Holdings reported revenue of 3.8B CNY in fiscal 2025, up 9.2% a year over 8 years.

Net income was -29M CNY and the operating margin 0.1%, against -32.8% in 2017.

Free cash flow was -53M CNY, and the company returned 2.2B CNY in dividends.

The diluted share count rose 269% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

-50510201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CNY, from DouYu International Holdings's 10-K filings with the SEC.

Fiscal year201720182019202020212022202320242025
Revenue1.9B CNY3.7B CNY7.3B CNY9.6B CNY9.2B CNY7.1B CNY5.5B CNY4.3B CNY3.8B CNY
Cost of revenue1.9B CNY3.5B CNY6.1B CNY8.0B CNY8.1B CNY6.1B CNY4.8B CNY3.9B CNY3.3B CNY
Gross profit-5M CNY151M CNY1.2B CNY1.6B CNY1.1B CNY990M CNY684M CNY324M CNY490M CNY
Research and development212M CNY329M CNY384M CNY416M CNY490M CNY383M CNY277M CNY182M CNY121M CNY
Selling, general and admin411M CNY736M CNY1.0B CNY956M CNY1.3B CNY928M CNY589M CNY516M CNY372M CNY
Operating income-618M CNY-859M CNY-132M CNY262M CNY-649M CNY-199M CNY-164M CNY-574M CNY5M CNY
Pre-tax income-612M CNY-869M CNY37M CNY403M CNY-605M CNY-149M CNY68M CNY-287M CNY1M CNY
Income tax—0 CNY0 CNY—0 CNY3M CNY1M CNY15M CNY28M CNY
Net income-613M CNY-876M CNY40M CNY485M CNY-582M CNY-75M CNY36M CNY-307M CNY-29M CNY
EPS (diluted)-74.85 CNY-108.80 CNY1.26 CNY14.71 CNY-17.88 CNY-2.36 CNY1.11 CNY-9.95 CNY-0.96 CNY
Diluted shares8M8M31M33M33M32M32M31M30M
Gross margin-0.2%4.1%16.4%16.3%11.9%13.9%12.4%7.6%12.8%
Operating margin-32.8%-23.5%-1.8%2.7%-7.1%-2.8%-3.0%-13.4%0.1%
Net margin-32.5%-24.0%0.5%5.1%-6.3%-1.1%0.6%-7.2%-0.8%

Balance sheet

Fiscal years, in CNY, from DouYu International Holdings's 10-K filings with the SEC.

Fiscal year201720182019202020212022202320242025
Cash and short-term investments540M CNY5.6B CNY8.1B CNY5.3B CNY4.5B CNY4.0B CNY4.4B CNY1.0B CNY1.8B CNY
Receivables136M CNY129M CNY188M CNY200M CNY191M CNY109M CNY73M CNY49M CNY78M CNY
Total current assets—6.1B CNY8.6B CNY8.0B CNY7.2B CNY7.1B CNY6.7B CNY4.5B CNY2.6B CNY
Property, plant and equipment—50M CNY39M CNY38M CNY25M CNY17M CNY14M CNY7M CNY5M CNY
Goodwill—14M CNY31M CNY13M CNY13M CNY14M CNY———
Total assets—6.5B CNY9.1B CNY8.9B CNY8.2B CNY8.1B CNY8.1B CNY5.4B CNY3.1B CNY
Total current liabilities—2.9B CNY1.8B CNY1.9B CNY1.8B CNY1.6B CNY1.4B CNY1.2B CNY1.1B CNY
Total liabilities—2.9B CNY1.8B CNY1.9B CNY1.9B CNY1.6B CNY1.4B CNY1.2B CNY1.1B CNY
Shareholders' equity-2.5B CNY-3.0B CNY7.2B CNY6.9B CNY6.3B CNY6.6B CNY6.7B CNY4.2B CNY2.0B CNY
Net debt-540M CNY-5.6B CNY-8.1B CNY-5.3B CNY-4.5B CNY-4.0B CNY-4.4B CNY-1.0B CNY-1.8B CNY

Cash flow

Fiscal years, in CNY, from DouYu International Holdings's 10-K filings with the SEC.

Fiscal year201720182019202020212022202320242025
Operating cash flow-381M CNY-338M CNY813M CNY668M CNY-586M CNY-68M CNY-48M CNY-239M CNY-52M CNY
Capital spending24M CNY33M CNY16M CNY19M CNY7M CNY6M CNY5M CNY709,859 CNY290,883 CNY
Free cash flow-405M CNY-370M CNY797M CNY649M CNY-593M CNY-74M CNY-53M CNY-240M CNY-53M CNY
Stock-based compensation18M CNY35M CNY291M CNY142M CNY132M CNY67M CNY———
Dividends paid———————2.1B CNY2.2B CNY
Share buybacks (net)————-804,759 CNY————
Free cash flow margin-21.5%-10.1%10.9%6.8%-6.5%-1.0%-1.0%-5.6%-1.4%
Dividends per share———————68.16 CNY71.27 CNY
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Questions

What was DouYu International Holdings's revenue in 2025?

3.8B CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does DouYu International Holdings generate?

-53M CNY in fiscal 2025 (operating cash flow minus capital spending).

From DouYu International Holdings's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.