← iQIYI, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||
| Current assets: | ||||||||||
| Cash and Cash Equivalents, at Carrying Value | $733.0m | $667.1m | $852.5m | $1.7b | $470.3m | $1.0b | $624.6m | $483.6m | $622.7m | |
| Prepaid Expense and Other Assets, Current | $1.1b | $392.2m | $534.2m | $538.8m | $512.6m | $377.4m | $393.6m | $300.4m | $344.1m | |
| Short-term Investments | $779.9m | $881.7m | $657.8m | $514.7m | $211.6m | $118.6m | $132.6m | $129.0m | $45.0m | |
| Cash and cash equivalents | $733.0m | $4.6b | $5.9b | $10.9b | $3.0b | $7.1b | $4.4b | $3.5b | $4.4b | |
| Accounts receivable, net of allowance of RMB90,626 and RMB107,191 (US$15,328) as of December 31, 2024 and 2025, respectively | $2.2b | $2.9b | $3.6b | $3.3b | $2.7b | $2.4b | $2.2b | $2.2b | $2.5b | |
| Interest receivable from related parties | — | — | — | — | — | $208.3m | $3.4b | $1.0b | $489.8m | |
| Accounts Receivable | — | — | — | — | — | $2.4b | $2.2b | $2.2b | $2.5b | |
| Allowance For Doubtful Accounts Receivable | — | — | — | — | — | ($130.1m) | ($147.5m) | ($90.6m) | ($107.2m) | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | — | — | $7.9b | $5.4b | $4.5b | $4.7b | |
| Gross Accounts Receivable | — | — | — | — | — | $2.5b | $2.3b | $2.3b | $2.6b | |
| Non Current Prepaid Assets | — | — | — | — | — | $3.0b | $2.6b | $2.8b | $3.9b | |
| Other Current Assets | — | — | — | — | — | $888.5m | $681.9m | $490.9m | $570.7m | |
| Other Receivables | — | — | — | — | — | $1.9b | $2.1b | $1.7b | $1.8b | |
| Other Short Term Investments | — | — | — | — | — | $818.3m | $941.7m | $941.6m | $314.8m | |
| Prepaid Assets | — | — | — | — | — | $600.1m | $562.1m | $435.9m | $494.5m | |
| Assets, Current | $5.7b | $2.9b | $2.9b | $3.4b | $1.8b | $2.0b | $1.8b | $1.3b | $1.5b | |
| Total current assets | $5.7b | $19.9b | $20.3b | $22.3b | $11.5b | $13.8b | $12.6b | $9.5b | $10.3b | |
| Long-term investments | $567.9m | $2.6b | $3.0b | $3.2b | $3.0b | $2.5b | $2.3b | $2.1b | $1.8b | |
| Property, Plant and Equipment, Net | $1.2b | $235.3m | $252.0m | $213.6m | $211.0m | $160.2m | $121.7m | $120.3m | $129.2m | |
| Goodwill | $3.3b | $565.5m | $558.5m | $595.9m | $610.2m | $554.7m | $538.2m | $523.5m | $546.4m | |
| Intangible Assets, Net (Excluding Goodwill) | $428.0m | $244.1m | $116.9m | $96.1m | $85.6m | $63.3m | $43.6m | $39.7m | $31.0m | |
| Intangible assets, net | $428.0m | $1.7b | $814.0m | $627.2m | $545.3m | $436.7m | $309.5m | $289.9m | $217.1m | |
| Goodwill And Other Intangible Assets | — | — | — | — | — | $24.1b | $24.5b | $25.7b | $24.6b | |
| Other Intangible Assets | — | — | — | — | — | $20.3b | $20.7b | $21.9b | $20.8b | |
| Operating Lease, Right-of-Use Asset | — | — | $103.8m | $153.5m | $142.4m | $97.7m | $96.3m | $83.5m | $70.0m | |
| Prepayments and other assets | $2.8b | $4.7b | $3.5b | $2.7b | $2.9b | $3.9b | $3.5b | $2.9b | $8.5b | |
| Additional Financial Items | ||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $2.2b | $420.2m | $521.1m | $512.6m | $431.2m | $348.4m | $305.5m | $300.2m | $360.7m | |
| Accrued Liabilities, Current | $2.1b | $392.2m | $375.1m | $346.7m | $357.8m | $266.7m | $269.0m | $260.2m | $278.5m | |
| Restricted cash | $0 | $2.2b | $974.9m | $25.2m | $77.7m | $13.6m | $6.1m | $0 | $23.1m | |
| Licensed copyrights, net | $4.6b | $6.6b | $6.3b | $6.4b | $7.3b | $6.8b | $7.0b | $6.9b | $6.0b | |
| Fixed assets, net | $1.2b | $1.6b | $1.8b | $1.4b | $1.3b | $1.1b | $863.8m | $878.0m | $903.4m | |
| Deferred tax assets, net | $11.4m | $23.9m | $34.9m | $51.3m | $31.4m | $0 | $0 | $23.5m | $20.8m | |
| Produced content, net | $1.6b | $3.7b | $4.4b | $6.6b | $11.0b | $13.0b | $13.4b | $14.7b | $14.6b | |
| Operating lease assets | — | $0 | $722.7m | $1.0b | $907.3m | $674.0m | $683.9m | $609.8m | $489.7m | |
| Amounts due from related parties | $0 | $52.8m | $172.2m | $39.4m | $81.0m | $59.9m | $317.2m | $4.1b | $4.8b | |
| Accounts and notes payable | — | $10.2b | $8.2b | $7.6b | $8.9b | $6.0b | $5.7b | $6.5b | $6.7b | |
| Customer advances and deferred revenue | $1.6b | $2.2b | $3.1b | $3.4b | $3.5b | $4.2b | $4.4b | $4.4b | $4.2b | |
| Short-term loans | $299.4m | $3.0b | $2.6b | $3.0b | $4.1b | $3.3b | $3.6b | $3.8b | $2.5b | |
| Long-term loans, current portion | $10.0m | $83.7m | $736.8m | $909.0m | — | — | $2.0m | $168.0m | $738.4m | |
| Convertible senior notes, current portion | — | — | $0 | $4.8b | $0 | $8.3b | $2.8b | $242.5m | $1.5b | |
| Operating lease liabilities, current portion | — | $0 | $125.4m | $201.3m | $171.5m | $103.5m | $100.9m | $96.7m | $84.2m | |
| Other liabilities | $429.3m | $935.9m | $1.2b | $979.0m | $891.8m | $786.6m | $6.8b | $7.6b | $8.2b | |
| Long-term loans | $284.0m | $644.2m | $880.3m | $0 | — | — | $98.0m | $1.0b | $3.4b | |
| Convertible senior notes | $0 | $4.7b | $12.3b | $11.9b | $12.7b | $9.6b | $8.1b | $8.4b | $6.7b | |
| Operating lease liabilities | — | $0 | $402.7m | $767.7m | $625.7m | $508.6m | $523.7m | $462.0m | $340.3m | |
| Other non-current liabilities | $6.4m | $57.6m | $232.6m | $210.2m | $260.9m | $1.4b | $1.3b | $1.1b | $888.7m | |
| Ordinary shares, value | $23k | $321k | $325k | $348k | $356k | $387k | $430k | $431k | $432k | |
| Accumulated Depreciation | — | — | — | — | — | ($1.8b) | ($1.7b) | ($1.5b) | ($1.6b) | |
| Buildings And Improvements | — | — | — | — | — | $588.7m | $588.7m | $588.7m | $588.7m | |
| Capital Lease Obligations | — | — | — | — | — | $612.1m | $624.6m | $558.6m | $424.4m | |
| Construction In Progress | — | — | — | — | — | $9.1m | $23.5m | $101.0m | $241.9m | |
| Current Accrued Expenses | — | — | — | — | — | $1.8b | $1.9b | $1.9b | $1.9b | |
| Current Capital Lease Obligation | — | — | — | — | — | $103.5m | $100.9m | $96.7m | $84.2m | |
| Current Debt | — | — | — | — | — | $12.4b | $6.4b | $4.2b | $4.7b | |
| Current Debt And Capital Lease Obligation | — | — | — | — | — | $12.5b | $6.5b | $4.3b | $4.8b | |
| Current Deferred Liabilities | — | — | — | — | — | $4.3b | $4.4b | $4.4b | $4.2b | |
| Duefrom Related Parties Current | — | — | — | — | — | $104.2m | $1.7b | $283.1m | $221.7m | |
| Duefrom Related Parties Non Current | — | — | — | — | — | $59.9m | $158.6m | $4.0b | $167.0m | |
| Dueto Related Parties Current | — | — | — | — | — | $2.8b | $2.9b | $3.2b | $3.6b | |
| Dueto Related Parties Non Current | — | — | — | — | — | $100.9m | $80.6m | $59.2m | $38.2m | |
| Gross PPE | — | — | — | — | — | $3.6b | $3.3b | $3.0b | $3.0b | |
| Invested Capital | — | — | — | — | — | $28.2b | $26.8b | $27.0b | $28.1b | |
| Investments And Advances | — | — | — | — | — | $2.5b | $2.3b | $2.1b | $1.8b | |
| Leases | — | — | — | — | — | $162.7m | $164.6m | $187.6m | $189.0m | |
| Line Of Credit | — | — | — | — | — | $3.3b | $3.6b | $3.8b | $2.5b | |
| Long Term Capital Lease Obligation | — | — | — | — | — | $508.6m | $523.7m | $462.0m | $340.3m | |
| Machinery Furniture Equipment | — | — | — | — | — | $2.1b | $1.8b | $1.5b | $1.4b | |
| Net Debt | — | — | — | — | — | $14.8b | $10.2b | $10.1b | $10.5b | |
| Net PPE | — | — | — | — | — | $1.8b | $1.5b | $1.5b | $1.4b | |
| Net Tangible Assets | — | — | — | — | — | ($17.9b) | ($12.4b) | ($12.4b) | ($11.3b) | |
| Non Current Accounts Receivable | — | — | — | — | — | $59.9m | $158.6m | $4.0b | $167.0m | |
| Non Current Deferred Assets | — | — | — | — | — | $0 | $0 | $23.5m | $20.8m | |
| Non Current Deferred Liabilities | — | — | — | — | $3.1m | $1.8m | $824k | $0 | — | |
| Non Current Deferred Taxes Assets | — | — | — | — | — | $0 | $0 | $23.5m | $20.8m | |
| Non Current Note Receivables | — | — | — | — | — | — | — | $0 | $4.5b | |
| Ordinary Shares Number | — | — | — | — | — | $6.1b | $6.7b | $6.7b | $6.7b | |
| Other Current Borrowings | — | — | — | — | — | $9.0b | $2.9b | $460.4m | $2.2b | |
| Other Current Liabilities | — | — | — | — | — | $786.6m | $956.4m | $1.2b | $814.4m | |
| Other Equity Adjustments | — | — | — | — | — | $1.9b | $1.7b | $1.6b | $1.3b | |
| Other Non Current Assets | — | — | — | — | — | $870.6m | $898.6m | $129.6m | $81.5m | |
| Other Properties | — | — | — | — | — | $703.2m | $707.1m | $632.2m | $508.7m | |
| Properties | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Share Issued | — | — | — | — | — | $6.3b | $6.7b | $6.9b | $6.9b | |
| Tangible Book Value | — | — | — | — | — | ($17.9b) | ($12.4b) | ($12.4b) | ($11.3b) | |
| Tradeand Other Payables Non Current | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Treasury Shares Number | — | — | — | — | — | $204.6m | $0 | $155.8m | $155.8m | |
| Working Capital | — | — | — | — | — | ($14.3b) | ($9.7b) | ($12.0b) | ($11.8b) | |
| Total non-current assets | $14.5b | $24.9b | $24.5b | $25.9b | $30.9b | $32.3b | $32.0b | $36.2b | $36.4b | |
| Total non-current liabilities | $292.7m | $6.8b | $14.9b | $13.9b | $14.3b | $11.6b | $10.1b | $10.9b | $11.3b | |
| Total shareholders’ equity | ($14.3b) | $18.2b | $9.6b | $9.3b | $5.3b | $6.3b | $12.2b | $13.4b | $13.3b | |
| Total Capitalization | — | — | — | — | — | $15.8b | $20.3b | $22.8b | $23.4b | |
| Total Debt | — | — | — | — | — | $22.5b | $15.3b | $14.2b | $15.2b | |
| Assets | $20.2b | $6.5b | $6.4b | $7.4b | $6.7b | $6.7b | $6.3b | $6.3b | $6.7b | |
| Total assets | $20.2b | $44.8b | $44.8b | $48.2b | $42.5b | $46.0b | $44.6b | $45.8b | $46.7b | |
| LIABILITIES AND EQUITY | ||||||||||
| Current liabilities: | ||||||||||
| Operating Lease, Liability, Current | — | — | $18.0m | $30.9m | $26.9m | $15.0m | $14.2m | $13.2m | $12.0m | |
| Accounts Payable, Current | $7.0b | $1.5b | — | — | — | $6.0b | $5.7b | $6.5b | $6.7b | |
| Operating Lease, Liability, Noncurrent | — | — | $57.8m | $117.7m | $98.2m | $73.7m | $73.8m | $63.3m | $48.7m | |
| Long-term Debt, Current Maturities | — | — | — | — | — | — | — | $23.0m | $105.6m | |
| Payables And Accrued Expenses | — | — | — | — | — | $10.6b | $10.5b | $11.5b | $12.2b | |
| Liabilities, Current | $11.6b | $2.9b | $2.9b | $3.8b | $3.5b | $4.1b | $3.1b | $2.9b | $3.2b | |
| Total current liabilities | $11.6b | $19.8b | $20.2b | $24.9b | $22.5b | $28.1b | $22.3b | $21.5b | $22.1b | |
| Deferred Income Tax Liabilities, Net | — | — | — | $703k | $491k | $266k | $116k | $0 | $0 | |
| Other Liabilities, Noncurrent | $6.4m | $8.4m | $33.4m | $32.2m | $40.9m | $202.3m | — | — | — | |
| Deferred tax liabilities | $2.3m | $96.4m | $30.1m | $4.6m | $3.1m | $1.8m | $824k | $0 | $0 | |
| Long Term Debt | — | — | — | — | — | $9.6b | $8.2b | $9.4b | $10.1b | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | — | $10.1b | $8.8b | $9.8b | $10.4b | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | $3.1m | $1.8m | $824k | $0 | — | |
| Deferred Tax Liabilities, Net | — | — | — | — | — | — | — | $16.8m | $12.0m | |
| Liabilities | $11.9b | $3.9b | $5.0b | $5.9b | $5.8b | $5.8b | $4.6b | $4.4b | $4.8b | |
| Total liabilities | $11.9b | $26.6b | $35.1b | $38.7b | $36.8b | $39.7b | $32.4b | $32.4b | $33.4b | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | — | — | $14.6m | $16.6m | $62.4m | $0 | — | — | — | |
| Stockholders’ equity: | ||||||||||
| Common Stock, Value, Issued | $23k | — | — | — | — | — | — | — | — | |
| Retained Earnings (Accumulated Deficit) | ($15.0b) | ($3.4b) | ($4.9b) | ($6.3b) | ($7.4b) | ($6.7b) | ($6.3b) | ($6.0b) | ($6.3b) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $93.1m | $273.4m | $302.6m | $389.7m | $425.1m | $270.2m | $237.8m | $212.4m | $186.7m | |
| Additional Paid in Capital, Common Stock | $600.8m | $5.8b | $5.9b | $7.3b | $7.8b | $7.4b | $7.7b | $7.6b | $8.0b | |
| Additional paid-in capital | $600.8m | $39.7b | $41.3b | $47.7b | $49.6b | $50.9b | $55.0b | $55.6b | $56.0b | |
| Accumulated deficit | ($15.0b) | ($23.5b) | ($33.8b) | ($41.0b) | ($47.2b) | ($46.5b) | ($44.6b) | ($43.8b) | ($44.0b) | |
| Accumulated other comprehensive income | $93.1m | $1.9b | $2.1b | $2.5b | $2.7b | $1.9b | $1.7b | $1.6b | $1.3b | |
| Capital Stock | — | — | — | — | — | $387k | $430k | $431k | $432k | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | $1.9b | $1.7b | $1.6b | $1.3b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | $3.8m | $17.3m | $6.1m | $12.1m | $13.8m | $13.5m | $13.9m | $1.1m | ($1.1m) | |
| Noncontrolling interests | $3.8m | $118.6m | $42.4m | $79.0m | $88.1m | $92.8m | $98.4m | $8.3m | ($7.6m) | |
| Minority Interest | — | — | — | — | — | $92.8m | $98.4m | $8.3m | ($7.6m) | |
| Total Equity Gross Minority Interest | — | — | — | — | — | $6.3b | $12.2b | $13.4b | $13.3b | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | — | — | $11.6b | $10.1b | $10.9b | $11.3b | |
| Liabilities and Equity | $20.2b | $6.5b | $6.4b | $7.4b | $6.7b | $6.7b | $6.3b | $6.3b | $6.7b | |
| Total liabilities and shareholders' equity | $20.2b | $44.8b | $44.8b | $48.2b | $42.5b | $46.0b | $44.6b | $45.8b | $46.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.