DOYUNasdaqServices-Computer Programming, Data Processing, Etc.Fiscal year ends December 31
DouYu International Holdings Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 17, 2026
$3.47−0.11 (-3.07%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
12.8%−3.4 pts over 5 years
Operating margin
0.1%−2.6 pts over 5 years
Net margin
-0.8%−5.8 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 | -10.6% | -18.7% | -16.8% | – | |
| Gross profit | +51.2% | -20.9% | -20.7% | – | |
| Operating income | – | – | -55.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 6.8% | -0.9% | |
| Return on assets | – | 5.4% | -0.7% | |
| Current ratio | – | 4.27 | 2.33 | |
| Capex to revenue | – | 0.2% | 0.0% | |
| Diluted shares | – | 33M | 30M |
Where the cash went
Fiscal 2021 to 2025, five years combined
DouYu International generated CN¥992.89M from operations and spent CN¥4.59B on capital expenditure, dividends and share buybacks. 0% of that went back into the business.
Generated
CN¥992.89M
Used
CN¥4.59B
Capital expenditureCN¥18.93M0%DividendsCN¥4.25B93%Share buybacksCN¥321.63M7%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-0.8%
×Asset turnover0.89×
×Equity multiplier1.38×
=Return on equity, FY2025-0.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -0.8% | 0.89× | 1.38× | -0.9% |
| FY2024 | -7.2% | 0.63× | 1.24× | -5.6% |
| FY2023 | 0.6% | 0.68× | 1.22× | 0.5% |
| FY2022 | -1.1% | 0.87× | 1.27× | -1.2% |
| FY2021 | -6.3% | 1.07× | 1.29× | -8.8% |
| FY2020 | 5.1% | 1.07× | 1.27× | 6.8% |
| FY2019 | 0.5% | 0.93× | 3.69× | 1.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-CN¥29.08M
- Cash generatingOperating cash flow above zero-CN¥52.25M
- Return on assets improvedROA up on the prior year-3.8% → -0.5%
- Earnings backed by cashOperating cash flow above net income-CN¥52.25M vs -CN¥29.08M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.63 → 2.33
- No dilutionShare count did not rise31M → 30M
- Gross margin improvedGross margin up on the prior year7.58% → 12.82%
- More efficientAsset turnover rose0.53 → 0.70