SOHUNasdaqServices-Computer Processing & Data PreparationFiscal year ends December 31
Sohu.com Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 12, 2026
$12.45−0.30 (-2.35%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 0.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
77.5%+6.5 pts over 5 years
Operating margin
-16.1%−25.8 pts over 5 years
Net margin
67.4%+78.9 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 | -2.4% | -7.3% | -4.9% | – | |
| Gross profit | +4.7% | -5.8% | -3.2% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -22.2% | 35.8% | |
| Return on assets | – | -3.1% | 23.4% | |
| Current ratio | – | 1.76 | 2.90 | |
| Interest coverage | – | 11.8× | – | |
| Capex to revenue | 6.4% | 0.8% | 0.1% | |
| Diluted shares | 39M | 39M | 28M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Sohu.com generated $172.87M from operations and spent $221.41M on capital expenditure, dividends and share buybacks. 9% of that went back into the business.
Generated
$172.87M
Used
$221.41M
Capital expenditure$20.34M9%Dividends$00%Share buybacks$201.07M91%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin67.4%
×Asset turnover0.35×
×Equity multiplier1.53×
=Return on equity, FY202535.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 67.4% | 0.35× | 1.53× | 35.8% |
| FY2024 | -16.8% | 0.33× | 1.83× | -10.1% |
| FY2023 | -5.1% | 0.31× | 1.78× | -2.8% |
| FY2022 | -2.4% | 0.35× | 1.76× | -1.4% |
| FY2021 | 111.0% | 0.33× | 3.09× | 113.3% |
| FY2020 | -11.5% | 0.27× | 7.11× | -22.2% |
| FY2019 | -22.2% | 0.22× | 5.96× | -29.4% |
| FY2018 | -23.2% | 0.20× | 5.05× | -23.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$394.10M
- Cash generatingOperating cash flow above zero-$4.76M
- Return on assets improvedROA up on the prior year-5.3% → 22.7%
- Earnings backed by cashOperating cash flow above net income-$4.76M vs $394.10M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.24 → 2.90
- No dilutionShare count did not rise32M → 28M
- Gross margin improvedGross margin up on the prior year72.29% → 77.50%
- More efficientAsset turnover rose0.32 → 0.34