CCMNYSEServices-Offices & Clinics of Doctors of Medicine
Concord Medical Services Holdings Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026
$3.56−0.07 (-1.93%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
5.6%−0.3 pts over 5 years
Operating margin
-56.8%+84.9 pts over 5 years
Net margin
-20.2%+118.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +19.9% | -0.8% | +15.6% | -2.9% | |
| Gross profit | – | – | +14.6% | -20.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -20.5% | 78.9% | 4.2% | |
| Return on assets | -7.7% | -6.4% | -1.4% | |
| Current ratio | 1.26 | 1.32 | 0.48 | |
| Debt to equity | 0.74 | -3.19 | -1.64 | |
| Interest coverage | -1.9× | -3.9× | -1.7× | |
| Inventory turnover | 58.4× | 16.2× | 10.9× | |
| Capex to revenue | 17.3% | 75.3% | 12.2% | |
| Diluted shares | 131M | 131M | 131M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Concord Medical Services generated CN¥1.45B from operations and spent CN¥822.05M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
CN¥1.45B
Used
CN¥822.05M
Capital expenditureCN¥822.05M100%DividendsCN¥00%Share buybacksCN¥00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-20.2%
×Asset turnover0.07×
×Equity multiplier-3.03×
=Return on equity, FY20254.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -20.2% | 0.07× | -3.03× | 4.2% |
| FY2024 | -80.3% | 0.06× | -2.90× | 14.0% |
| FY2023 | -55.4% | 0.09× | -3.03× | 14.9% |
| FY2022 | -103.7% | 0.08× | -3.78× | 30.3% |
| FY2021 | -55.9% | 0.08× | -5.69× | 26.7% |
| FY2020 | -139.0% | 0.05× | -12.26× | 78.9% |
| FY2019 | -154.8% | 0.04× | 28.23× | -195.2% |
| FY2018 | -123.0% | 0.05× | 5.87× | -34.3% |
| FY2017 | -85.9% | 0.10× | 3.19× | -27.1% |
| FY2016 | -57.5% | 0.13× | 2.67× | -20.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-CN¥92.81M
- Cash generatingOperating cash flow above zero-CN¥201.82M
- Return on assets improvedROA up on the prior year-5.1% → -1.4%
- Earnings backed by cashOperating cash flow above net income-CN¥201.82M vs -CN¥92.81M
- Less leverageLong-term debt to assets fell40.0% → 37.7%
- Better liquidityCurrent ratio rose0.46 → 0.48
- No dilutionShare count did not rise131M → 131M
- Gross margin improvedGross margin up on the prior year-20.62% → 5.61%
- More efficientAsset turnover rose0.06 → 0.07