Latest Ratios: P/E Ratio -35.8x · EV/EBITDA -18.1x · ROE -0.9%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $145M | $205M | $346M | $304M | $448M | $859M | $3.7B | $2.7B | — | — | — |
| Enterprise Value | $-113026680 | $-1547051883 | $-655840280 | $-4114874829 | $-3546954570 | $-3535526247 | $-1575466481 | $-5428773744 | — | — | — |
| P/E Ratio → | -35.81 | — | — | 8.56 | — | — | 7.52 | 8.30 | — | — | — |
| P/S Ratio | 0.26 | 0.05 | 0.08 | 0.05 | 0.06 | 0.09 | 0.38 | 0.37 | — | — | — |
| P/B Ratio | 0.49 | 0.10 | 0.08 | 0.05 | 0.07 | 0.14 | 0.52 | 0.37 | — | — | — |
| P/FCF | — | — | — | — | — | — | 6.24 | 3.85 | — | — | — |
| P/OCF | — | — | — | — | — | — | 5.47 | 3.28 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.41 | -0.15 | -0.74 | -0.50 | -0.39 | -0.16 | -0.75 | — | — | — |
| EV / EBITDA | -18.12 | -36.46 | — | — | — | — | -4.22 | — | — | — | — |
| EV / EBIT | -70.80 | -142.46 | — | — | — | — | -6.01 | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | -2.69 | -7.85 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.8% | 12.8% | 7.6% | 12.4% | 13.9% | 11.9% | 16.3% | 16.4% | 4.1% | -0.2% | -46.8% |
| Operating Margin | 0.3% | 0.3% | -13.2% | -3.0% | -2.8% | -7.1% | 2.7% | -1.8% | -23.5% | -32.8% | -98.7% |
| Net Profit Margin | -0.8% | -0.8% | -7.0% | 0.6% | -1.1% | -6.3% | 5.1% | 0.5% | -24.0% | -32.5% | -99.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.9% | -0.9% | -5.5% | 0.5% | -1.2% | -8.8% | 6.8% | 1.6% | — | — | — |
| ROA | -0.7% | -0.7% | -4.4% | 0.4% | -0.9% | -6.8% | 5.4% | 0.4% | -23.3% | -67.7% | -100.5% |
| ROIC | 0.5% | 0.5% | -15.4% | -5.1% | -6.7% | -26.9% | 42.6% | — | — | — | — |
| ROCE | 0.4% | 0.4% | -10.3% | -2.5% | -3.1% | -9.7% | 3.7% | -2.4% | -45.3% | -298.2% | -304.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | — | — | — | — |
| Debt / EBITDA | 0.19 | 0.19 | — | — | — | — | 0.14 | — | — | — | — |
| Net Debt / Equity | — | -0.88 | -0.24 | -0.66 | -0.61 | -0.70 | -0.75 | -1.11 | — | — | — |
| Net Debt / EBITDA | -41.30 | -41.30 | — | — | — | — | -14.01 | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | -8.93 | -11.71 | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | -86.67 |
Net cash position: cash ($1.8B) exceeds total debt ($8M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.33 | 2.33 | 3.63 | 4.86 | 4.54 | 3.91 | 4.27 | 4.79 | 2.14 | 0.99 | 1.29 |
| Quick Ratio | 2.33 | 2.33 | 3.63 | 4.86 | 4.52 | 3.86 | 4.23 | 4.74 | 2.09 | 0.89 | 1.22 |
| Cash Ratio | 2.00 | 2.00 | 3.32 | 4.47 | 4.20 | 3.53 | 3.99 | 4.51 | 1.94 | 0.62 | 0.99 |
| Asset Turnover | — | 1.22 | 0.78 | 0.69 | 0.87 | 1.12 | 1.08 | 0.80 | 0.56 | 1.83 | 1.01 |
| Inventory Turnover | — | — | — | — | 190.47 | 88.33 | 102.92 | 65.31 | 25.81 | 22.27 | 29.51 |
| Days Sales Outstanding | — | 33.02 | 10.53 | 9.07 | 7.45 | 9.10 | 7.94 | 10.63 | 18.61 | 28.90 | 24.35 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 100.0% | 100.0% | 100.0% | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 11.7% | — | — | 13.3% | 12.1% | — | — | — |
| FCF Yield | — | — | — | — | — | — | 16.0% | 26.0% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 30.5% | 0.0% | 24.3% | 12.5% | 15.9% | 4.3% | — | — | — |
| Total Shareholder Yield | 100.0% | 100.0% | 100.0% | 0.0% | 24.3% | 12.5% | 15.9% | 4.3% | — | — | — |
| Shares Outstanding | — | $30M | $31M | $32M | $32M | $33M | $33M | $31M | $8M | $8M | $9M |
Regulatory and competitive erosion
According to recent financial data, DouYu trades at a P/S ratio of 0.24, which, when compared to the broader internet content sector, suggests that investors are heavily discounting the company's future earnings potential in favor of its substantial cash-to-market-cap valuation floor.
The forward P/E of 6.22 indicates that the market expects minimal growth, effectively pricing the equity as a terminal asset rather than a going concern. This valuation gap warrants investigation into whether the market is correctly assessing the resilience of the hardcore eSports community or simply pricing in a permanent decline in monetization.
Based on reported figures, DouYu's ROIC has struggled to maintain positive territory, fluctuating between -5.3% and 3.5% over the last ten quarters, which highlights the difficulty of generating meaningful returns on invested capital within a highly competitive and regulated streaming environment.
The inability to consistently compound capital suggests that the company's core business model is currently value-destructive rather than value-additive. Investors should monitor whether management can improve these returns through cost rationalization or if the structural nature of revenue-sharing agreements will continue to suppress profitability.
As reported in quarterly filings, DouYu's asset turnover has remained low, hovering around 0.13 to 0.33, which indicates that the company is struggling to generate sufficient revenue relative to its asset base compared to more diversified digital entertainment peers.
The low turnover ratio suggests that the platform's infrastructure and content investments are not being utilized at optimal capacity. This inefficiency may be exacerbated by the high cost of maintaining exclusive broadcasting rights, which do not appear to be translating into proportional increases in top-line revenue.
According to the company's balance sheet, the current ratio of 2.08 as of 2025Q2 demonstrates a strong liquidity position, yet this metric is heavily influenced by the company's massive cash reserves rather than operational cash flow generation from core streaming activities.
While the liquidity position appears robust enough to withstand short-term regulatory or competitive shocks, it does not necessarily imply operational health. The reliance on cash reserves to maintain a high current ratio suggests that the underlying business model lacks the self-sustaining cash generation required for long-term viability.
As indicated by the company's financial data, the P/E ratio is a frequently misapplied metric for DouYu, as it fails to account for the significant cash balance that distorts the earnings-based valuation of a business currently facing structural revenue contraction.
Analysts should prioritize EV/EBITDA or cash-adjusted valuation metrics to better understand the company's true enterprise value. Relying solely on P/E obscures the reality that the company's market capitalization is largely supported by its balance sheet rather than its ability to generate sustainable, growing net income.
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Quick answers to the most common questions about buying DOYU stock.
DouYu International Holdings Limited's current P/E ratio is -35.8x. The historical average is 8.1x.
DouYu International Holdings Limited's current EV/EBITDA is -18.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
DouYu International Holdings Limited's return on equity (ROE) is -0.9%. The historical average is -1.1%.
Based on historical data, DouYu International Holdings Limited is trading at a P/E of -35.8x. Compare with industry peers and growth rates for a complete picture.
DouYu International Holdings Limited's current dividend yield is 100.00%.
DouYu International Holdings Limited has 12.8% gross margin and 0.3% operating margin.
DouYu International Holdings Limited's Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.