FENGNYSETelevision Broadcasting Stations
Phoenix New Media Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026
$1.43−0.01 (-0.69%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
48.9%−4.9 pts over 5 years
Operating margin
-4.5%+4.0 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.8% | -0.9% | -8.7% | -7.2% | |
| Gross profit | +39.2% | +16.4% | -10.4% | -7.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Current ratio | 2.10 | 2.28 | 2.85 | |
| Interest coverage | 5.0× | – | – | |
| Capex to revenue | 2.0% | 1.0% | 1.7% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Phoenix New Media generated CN¥563.03M from operations and spent CN¥85.87M on capital expenditure, dividends and share buybacks. 92% of that went back into the business.
Generated
CN¥563.03M
Used
CN¥85.87M
Capital expenditureCN¥78.77M92%DividendsCN¥5.62M7%Share buybacksCN¥1.48M2%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.6%
×Asset turnover0.50×
×Equity multiplier1.44×
=Return on equity, FY20164.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2016 | 5.6% | 0.50× | 1.44× | 4.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 4 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero-CN¥2.67M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income-CN¥2.67M vs –
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.74 → 2.85
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year38.19% → 48.87%
- More efficientAsset turnover rose0.40 → 0.45