HUIZNasdaqInsurance Agents, Brokers & ServiceFiscal year ends December 31
Huize Holding Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 24, 2026
$1.97+0.24 (+13.87%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
30.6%−2.7 pts over 5 years
Operating margin
0.4%+2.5 pts over 5 years
Net margin
0.3%+1.8 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 | +26.7% | +11.0% | +5.3% | – | |
| Gross profit | +7.2% | -4.3% | +3.6% | – | |
| Free cash flow | – | – | -40.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -22.9% | 1.0% | |
| Return on assets | – | -2.0% | 0.4% | |
| Current ratio | – | 1.81 | 1.44 | |
| Debt to equity | – | 0.18 | 0.15 | |
| Net debt to EBITDA | – | 30.94× | -9.32× | |
| Capex to revenue | – | 0.7% | 0.5% | |
| Diluted shares | – | 964M | 1.01B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Huize generated CN¥435.14M from operations and spent CN¥121.07M on capital expenditure, dividends and share buybacks. 81% of that went back into the business.
Generated
CN¥435.14M
Used
CN¥121.07M
Capital expenditureCN¥97.94M81%DividendsCN¥00%Share buybacksCN¥23.13M19%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.3%
×Asset turnover1.74×
×Equity multiplier2.22×
=Return on equity, FY20251.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.3% | 1.74× | 2.22× | 1.0% |
| FY2024 | -0.1% | 1.36× | 2.25× | -0.2% |
| FY2023 | 5.9% | 1.17× | 2.73× | 18.8% |
| FY2022 | -2.7% | 0.79× | 4.20× | -8.9% |
| FY2021 | -4.8% | 1.41× | 3.85× | -26.0% |
| FY2020 | -1.5% | 1.32× | 11.53× | -22.9% |
| FY2019 | 1.5% | 2.36× | -1.21× | -4.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zeroCN¥4.04M
- Cash generatingOperating cash flow above zeroCN¥17.88M
- Return on assets improvedROA up on the prior year-0.1% → 0.5%
- Earnings backed by cashOperating cash flow above net incomeCN¥17.88M vs CN¥4.04M
- Less leverageLong-term debt to assets fell0.0% → 0.7%
- Better liquidityCurrent ratio rose1.44 → 1.44
- No dilutionShare count did not rise997M → 1.01B
- Gross margin improvedGross margin up on the prior year36.19% → 30.61%
- More efficientAsset turnover rose1.32 → 1.79