MOGUNYSEServices-Business Services, NECFiscal year ends March 31
MOGU Inc.
Financials through fiscal 2026, year ended Mar 31, 2026Last filing: 20-F on Jul 24, 2026
$1.92+0.02 (+1.05%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2026
Gross margin
28.6%−33.5 pts over 5 years
Operating margin
-57.6%+31.3 pts over 5 years
Net margin
1.5%+69.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -11.2% | -18.5% | -23.6% | – | |
| Gross profit | -36.5% | -32.8% | -34.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | -19.1% | 0.4% | |
| Return on assets | – | -15.3% | 0.2% | |
| Current ratio | – | 2.70 | 1.07 | |
| Interest coverage | – | – | -6564.7× | |
| Inventory turnover | – | 115.7× | 3143.1× | |
| Capex to revenue | 2.1% | 31.6% | 3.3% | |
| Diluted shares | 556M | 2.63B | 2.64B |
Where the cash went
Fiscal 2022 to 2026, five years combined
MOGU generated CN¥280.29M from operations and spent CN¥194.28M on capital expenditure, dividends and share buybacks. 94% of that went back into the business.
Generated
CN¥280.29M
Used
CN¥194.28M
Capital expenditureCN¥182.43M94%DividendsCN¥00%Share buybacksCN¥11.84M6%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.5%
×Asset turnover0.15×
×Equity multiplier1.66×
=Return on equity, FY20260.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 1.5% | 0.15× | 1.66× | 0.4% |
| FY2025 | -44.3% | 0.16× | 1.64× | -11.4% |
| FY2024 | -37.0% | 0.16× | 1.59× | -9.7% |
| FY2023 | -76.7% | 0.21× | 1.53× | -24.9% |
| FY2022 | -189.6% | 0.22× | 1.34× | -57.0% |
| FY2021 | -68.0% | 0.23× | 1.25× | -19.1% |
| FY2020 | -266.2% | 0.24× | 1.17× | -73.8% |
| FY2019 | -45.3% | 0.26× | -17.98× | 213.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
2of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zeroCN¥1.84M
- Cash generatingOperating cash flow above zero-CN¥47.42M
- Return on assets improvedROA up on the prior year-6.7% → 0.2%
- Earnings backed by cashOperating cash flow above net income-CN¥47.42M vs CN¥1.84M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.51 → 1.07
- No dilutionShare count did not rise2.63B → 2.64B
- Gross margin improvedGross margin up on the prior year39.98% → 28.58%
- More efficientAsset turnover rose0.15 → 0.15