← Qfin Holdings, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $788.1m | $646.8m | $1.3b | $2.1b | $2.6b | $2.4b | $2.3b | $2.4b | $2.7b | |
| Cost of Revenue | $136.1m | $106.0m | $155.6m | $245.3m | $353.4m | $344.1m | $374.6m | $397.4m | $429.3m | |
| Gross Profit (Calculated) | $652.0m | $540.8m | $1.2b | $1.8b | $2.3b | $2.1b | $1.9b | $2.0b | $2.3b | |
| Total operating costs and expenses | $577.5m | $2.8b | $6.3b | $9.8b | $9.8b | $12.1b | $11.4b | $9.6b | $12.5b | |
| Operating Income (Loss) | $210.6m | $239.2m | $415.6m | $580.9m | $1.1b | $648.4m | $684.1m | $1.0b | $955.0m | |
| Additional Financial Items | ||||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | — | ($373k) | ($3.6m) | $15.6m | $5.6m | ($23.2m) | $332k | $207k | $22.8m | |
| Gain (Loss) on Investments | — | — | — | — | — | ($2.9m) | ($4.2m) | — | — | |
| Goodwill, Impairment Loss | — | — | — | — | — | — | — | $0 | $0 | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | — | — | — | — | — | — | — | — | $7.3b | |
| Investment Income, Interest | $2.4m | $1.5m | — | — | — | — | — | — | — | |
| Preferred Stock Dividends, Income Statement Impact | — | $451 | — | — | $277 | $863 | $762 | — | — | |
| Provision for loans receivable | $12.4m | $44.5m | $487.0m | $698.7m | $965.4m | $1.6b | $2.2b | $2.8b | $3.6b | |
| Provision for financial assets receivable (including provision generated from related parties of RMB633, RMB(200) and RMB(1,150) for the years ended December 31, 2023, 2024 and 2025, respectively) | $16.3m | $54.0m | $166.2m | $312.1m | $243.9m | $398.0m | $386.1m | $296.9m | $234.9m | |
| Provision for accounts receivable and contract assets (including provision generated from related parties of RMB(10,197), RMB1,861 and RMB(1,523) for the years ended December 31, 2023, 2024 and 2025, respectively) | $21.2m | $83.7m | $230.3m | $237.3m | $324.6m | $238.1m | $175.8m | $421.5m | $319.5m | |
| Provision for contingent liabilities | — | — | — | $4.8b | $3.1b | $4.4b | $3.1b | $478.4m | $1.7b | |
| Interest income, net | — | — | ($41.7m) | $77.2m | $126.3m | $182.3m | $217.3m | $237.0m | $278.6m | |
| Foreign exchange gain | — | ($2.6m) | ($24.9m) | $101.5m | $35.5m | ($160.2m) | $2.4m | $1.5m | $159.6m | |
| Investment loss | — | — | — | — | $10.1m | ($19.9m) | ($30.1m) | — | — | |
| Other income, net | $22k | $7.7m | $140.3m | $112.9m | $64.6m | $268.0m | $230.9m | $125.3m | $165.1m | |
| Net loss attributable to non-controlling interests | — | — | $291k | $897k | $17.2m | $18.6m | $16.8m | $16.2m | $14.0m | |
| Basic (in shares) | $198.3m | $202.8m | $288.8m | $298.2m | $307.3m | $312.6m | $320.7m | $298.0m | $266.5m | |
| Diluted (in shares) | $198.3m | $202.8m | $300.9m | $306.7m | $321.4m | $322.0m | $328.5m | $303.4m | $272.2m | |
| Diluted EPS | — | — | — | — | — | $25.00 | $26.08 | $41.28 | $44.02 | |
| Diluted NI Availto Com Stockholders | $164.9m | $173.6m | $2.5b | $3.5b | $5.8b | $4.0b | $4.3b | $6.3b | $6.0b | |
| Gain On Sale Of Security | — | — | — | — | — | ($19.9m) | ($30.1m) | $0 | ($175.7m) | |
| Interest Income | — | — | — | — | — | $3.7b | $5.3b | $6.9b | $8.8b | |
| Minority Interests | — | — | $291k | $897k | $17.2m | $18.6m | $16.8m | $16.2m | $14.0m | |
| Net Income From Continuing And Discontinued Operation | $164.9m | $173.6m | $2.5b | $3.5b | $5.8b | $4.0b | $4.3b | $6.3b | $6.0b | |
| Net Income From Continuing Operation Net Minority Interest | $164.9m | $173.6m | $2.5b | $3.5b | $5.8b | $4.0b | $4.3b | $6.3b | $6.0b | |
| Net Interest Income | — | — | — | — | — | $3.7b | $5.3b | $6.9b | $8.8b | |
| Normalized Income | — | — | — | — | — | $4.0b | $4.3b | $6.3b | $5.8b | |
| Other Gand A | $46.0m | $569.4m | $428.2m | $456.0m | $557.3m | $412.8m | $421.1m | $449.5m | $659.0m | |
| Reconciled Depreciation | — | — | — | — | — | $77.0m | $73.8m | $74.9m | $68.1m | |
| Selling General And Administration | — | — | — | — | — | $2.6b | $2.4b | $2.2b | $3.1b | |
| Special Income Charges | — | — | — | — | — | — | $0 | $0 | $270.1m | |
| Tax Effect Of Unusual Items | — | — | — | — | — | $0 | $0 | $0 | $51.3m | |
| Tax Provision | — | — | — | — | — | $736.8m | $1.0b | $1.6b | $1.4b | |
| Tax Rate For Calcs | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $213.0m | $241.4m | $426.2m | $625.6m | $1.1b | $687.6m | $743.3m | $1.1b | $1.1b | |
| Investment Income, Net | — | — | — | — | $1.6m | ($2.9m) | ($4.2m) | — | — | |
| Total net revenue | $788.1m | $4.4b | $9.2b | $13.6b | $16.6b | $16.6b | $16.3b | $17.2b | $19.2b | |
| Total Unusual Items | — | — | — | — | — | — | $0 | $0 | $270.1m | |
| Total Unusual Items Excluding Goodwill | — | — | — | — | — | — | $0 | $0 | $270.1m | |
| Pre-Tax Income | $213.0m | $1.7b | $3.0b | $4.1b | $7.0b | $4.7b | $5.3b | $7.9b | $7.4b | |
| Net Income Continuous Operations | — | — | — | — | — | $4.0b | $4.3b | $6.2b | $6.0b | |
| Net Income (Loss) Attributable to Parent | $164.9m | $173.6m | $2.5b | $3.5b | $5.8b | $4.0b | $4.3b | $6.3b | $6.0b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $164.9m | ($277.0m) | $359.3m | $535.9m | $907.3m | $583.5m | $603.6m | $858.2m | $856.5m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | ($42k) | ($137k) | ($2.7m) | ($2.7m) | ($2.4m) | ($2.2m) | ($2.0m) | |
| Net Income Including Noncontrolling Interests | — | — | — | — | — | $4.0b | $4.3b | $6.2b | $6.0b | |
| Earnings Per Share, Basic | $0.83 | ($1.37) | $1.24 | $1.80 | $2.95 | $1.87 | $1.88 | $2.88 | $3.21 | |
| Earnings Per Share, Diluted | $0.83 | ($1.37) | $1.19 | $1.75 | $2.82 | $1.81 | $1.84 | $2.83 | $3.15 | |
| Weighted Average Number of Shares Outstanding, Basic | 198.3m | 202.8m | 288.8m | 298.2m | 307.3m | 312.6m | 320.7m | 298.0m | 266.5m | |
| Basic Average Shares | — | — | — | — | — | $156.3m | $160.4m | $149.0m | $133.2m | |
| Diluted Average Shares | — | — | — | — | — | $161.0m | $164.3m | $151.7m | $136.1m | |
| Weighted Average Number of Shares Outstanding, Diluted | 198.3m | 202.8m | 300.9m | 306.7m | 321.4m | 322.0m | 328.5m | 303.4m | 272.2m | |
| General and Administrative Expense | $46.0m | $82.8m | $61.5m | $69.9m | $87.5m | $59.9m | $59.3m | $61.6m | $94.2m | |
| General and administrative (including expenses charged by related parties of RMB13,610, RMB13,110 and RMB12,263 for the years ended December 31, 2023, 2024 and 2025, respectively) | $46.0m | $569.4m | $428.2m | $456.0m | $557.3m | $412.8m | $421.1m | $449.5m | $659.0m | |
| Other Nonoperating Income (Expense) | $22k | $1.1m | $20.1m | $17.3m | $10.1m | $38.9m | $32.5m | $17.2m | $23.6m | |
| Costs and Expenses | $577.5m | $407.6m | $908.7m | $1.5b | $1.5b | $1.8b | $1.6b | $1.3b | $1.8b | |
| Operating Lease, Expense | — | — | $20.1m | $29.0m | $51.6m | $63.7m | $61.0m | $62.4m | $61.3m | |
| Selling and Marketing Expense | $345.6m | $192.3m | $409.6m | $165.4m | $328.0m | $320.0m | $273.2m | $236.4m | $353.1m | |
| Facilitation, origination and servicing (including costs charged by related parties of RMB118,849, RMB116,511 and RMB123,968 for the years ended December 31, 2023, 2024 and 2025, respectively) | $136.1m | $729.0m | $1.1b | $1.6b | $2.3b | $2.4b | $2.7b | $2.9b | $3.0b | |
| Funding costs | $14.4m | $71.6m | $345.0m | $595.6m | $337.4m | $504.4m | $645.4m | $590.9m | $548.9m | |
| Sales and marketing (including expenses charged by related parties of RMB223,627, RMB103,786 and RMB156,020 for the years ended December 31, 2023, 2024 and 2025, respectively) | $345.6m | $1.3b | $2.9b | $1.1b | $2.1b | $2.2b | $1.9b | $1.7b | $2.5b | |
| Income before income tax expense | $213.0m | $1.7b | $3.0b | $4.1b | $7.0b | $4.7b | $5.3b | $7.9b | $7.4b | |
| Current Income Tax Expense (Benefit) | $115.8m | $375.1m | $1.2b | $1.4b | $1.1b | $945.3m | $935.9m | $1.6b | $1.7b | |
| Income tax expense | ($48.2m) | ($466.4m) | ($466.0m) | ($586.0m) | ($1.3b) | ($736.8m) | ($1.0b) | ($1.6b) | ($1.4b) | |
| Interest Income (Expense), Net | — | — | ($6.0m) | $11.8m | $19.8m | — | — | — | — | |
| Interest Income (Expense), Nonoperating, Net | — | — | — | — | — | $26.4m | $30.6m | $32.5m | $39.8m | |
| Income Tax Expense (Benefit) | $48.2m | $67.8m | $66.9m | $89.8m | $197.4m | $106.8m | $142.1m | $225.3m | $200.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.