Latest Ratios: P/E Ratio 3.4x · EV/EBITDA 1.0x · ROE 15.3%. (2015–2025 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 | $1.2B | $1.4B | $1.8B | $1.4B | $1.4B | $1.5B | $796M | $823M | $1.2B | $1.1B | — |
| Enterprise Value | $452M | $-3481487052 | $-2845542018 | $-3552795960 | $-2016733328 | $-2923024028 | $-1792510226 | $-1181614778 | $-439457594 | $-782249328 | — |
| P/E Ratio → | 3.42 | 0.56 | 0.75 | 0.59 | 0.64 | 0.58 | 0.40 | 0.35 | 0.47 | — | — |
| P/S Ratio | 0.60 | 0.11 | 0.14 | 0.11 | 0.13 | 0.15 | 0.11 | 0.14 | 0.25 | 0.28 | — |
| P/B Ratio | 0.51 | 0.08 | 0.12 | 0.10 | 0.12 | 0.14 | 0.09 | 0.10 | 0.19 | 0.30 | — |
| P/FCF | 4.48 | 0.79 | 0.63 | 1.57 | 6.68 | 2.54 | 0.37 | — | 0.64 | 0.63 | — |
| P/OCF | 4.26 | 0.75 | 0.62 | 0.97 | 5.37 | 2.32 | 0.36 | — | 0.61 | 0.59 | — |
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 | — | -0.26 | -0.22 | -0.28 | -0.18 | -0.31 | -0.24 | -0.20 | -0.10 | -0.20 | — |
| EV / EBITDA | 1.03 | -1.17 | -1.09 | -1.45 | -0.78 | -1.09 | -0.75 | -0.43 | — | — | — |
| EV / EBIT | 1.07 | -1.15 | -1.12 | -1.49 | -0.80 | -1.12 | -0.78 | -0.45 | -0.24 | -0.51 | — |
| EV / FCF | — | -1.96 | -0.99 | -4.06 | -9.33 | -5.08 | -0.82 | — | -0.24 | -0.44 | — |
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 | 78.6% | 78.6% | 79.3% | 82.8% | 80.6% | 79.9% | 82.5% | 79.7% | 78.3% | 75.2% | 68.1% |
| Operating Margin | 21.8% | 21.8% | 19.4% | 18.9% | 22.3% | 27.4% | 30.5% | 44.4% | -55.1% | -59.9% | -80.5% |
| Net Profit Margin | 18.7% | 18.7% | 18.2% | 18.6% | 20.1% | 26.3% | 26.1% | 39.8% | 54.3% | 27.6% | 41.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.3% | 15.3% | 16.2% | 17.8% | 19.6% | 26.2% | 24.0% | 33.9% | 51.1% | 48.6% | 96.4% |
| ROA | 10.1% | 10.1% | 10.6% | 11.0% | 11.5% | 15.2% | 11.9% | 15.1% | 22.7% | 20.1% | 34.8% |
| ROIC | 12.8% | 12.8% | 12.9% | 13.5% | 16.1% | 20.4% | 20.6% | 27.7% | -38.8% | -79.2% | -138.4% |
| ROCE | 13.0% | 13.0% | 13.8% | 14.0% | 16.4% | 20.8% | 23.8% | 36.6% | -48.0% | -79.0% | -90.9% |
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 | 0.08 | 0.08 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.04 | 0.00 | — | — |
| Debt / EBITDA | 0.45 | 0.45 | 0.01 | 0.02 | 0.07 | 0.01 | 0.02 | 0.12 | — | — | — |
| Net Debt / Equity | — | -0.29 | -0.30 | -0.36 | -0.28 | -0.41 | -0.31 | -0.25 | -0.27 | -0.51 | -0.52 |
| Net Debt / EBITDA | -1.64 | -1.64 | -1.77 | -2.01 | -1.34 | -1.63 | -1.08 | -0.73 | — | — | — |
| Debt / FCF | — | -2.75 | -1.62 | -5.63 | -16.01 | -7.63 | -1.19 | — | -0.89 | -1.07 | -0.38 |
| Interest Coverage | — | — | — | — | — | — | 10.11 | 11.23 | 30.73 | 98.04 | 13.02 |
Net cash position: cash ($6.2B) exceeds total debt ($1.3B)
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 | 73.69 | 73.69 | 4.31 | 4.97 | 3.83 | 4.10 | 3.49 | 1.70 | 1.78 | 1.92 | 2.17 |
| Quick Ratio | 73.69 | 73.69 | 4.31 | 4.97 | 3.83 | 4.10 | 3.49 | 1.70 | 1.78 | 1.92 | 2.17 |
| Cash Ratio | 36.37 | 36.37 | 1.06 | 1.36 | 0.74 | 1.10 | 0.68 | 0.23 | 0.23 | 0.44 | 0.79 |
| Asset Turnover | — | 0.52 | 0.55 | 0.59 | 0.53 | 0.53 | 0.51 | 0.33 | 0.35 | 0.46 | 0.57 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | 6.0% | 36.6% | 24.6% | 31.3% | 25.8% | 21.7% | 33.1% | 47.5% | — | — | — |
| Payout Ratio | 20.6% | 20.6% | 18.5% | 18.4% | 16.4% | 12.7% | 13.4% | 16.5% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 29.2% | 178.8% | 133.3% | 170.4% | 157.3% | 171.4% | 247.2% | 288.7% | 213.9% | — | — |
| FCF Yield | 22.3% | 127.1% | 159.8% | 63.7% | 15.0% | 39.3% | 273.1% | — | 156.0% | 160.0% | — |
| Buyback Yield | 9.6% | 55.0% | 35.9% | 50.5% | 23.6% | 1.8% | 47.7% | 5.1% | 39.3% | 0.0% | — |
| Total Shareholder Yield | 15.6% | 91.5% | 60.5% | 81.8% | 49.4% | 23.5% | 80.8% | 52.6% | 39.3% | 0.0% | — |
| Shares Outstanding | — | $267M | $264M | $281M | $291M | $297M | $298M | $310M | $320M | $156M | $300M |
Regulatory IRR Cap Compression
Based on current market data, FinVolution trades at a P/E of 3.49 and a P/B of 0.52, suggesting that investors are heavily discounting the firm's future earnings potential due to the persistent regulatory overhang and the perceived risk of structural margin compression within the Chinese credit market.
The extremely low forward P/E of 0.58 implies that the market is pricing in a significant contraction in profitability rather than growth. This valuation gap compared to historical averages suggests that investors remain skeptical of the company's ability to maintain its current take rates amidst tightening regulatory oversight.
As reported in recent financial statements, ROIC has trended downward from 4.2% in 2025Q1 to 0.5% by 2025Q4, indicating that the company is struggling to generate meaningful returns on its invested capital as it pivots toward lower-yield, higher-quality borrower segments to satisfy regulatory requirements.
The decay in ROIC suggests that the firm's competitive advantage in risk pricing is being offset by the lower margins inherent in the current regulatory environment. Investors should monitor whether international expansion can eventually improve these returns or if the domestic core will continue to drag down overall capital efficiency.
According to quarterly filings, the asset turnover ratio has remained stagnant at approximately 0.03 to 0.15 over the last ten quarters, reflecting a business model that is increasingly capital-intensive due to the necessity of maintaining guarantee deposits and restricted cash to support institutional funding partnerships.
The rise in DSO to 317 days in 2025Q4 warrants further investigation, as it may indicate a lengthening of the collection cycle or a shift in the underlying credit risk profile of the loan book. This lack of efficiency suggests that the platform's capital-light aspirations are currently being challenged by operational realities.
Based on reported figures, the current ratio of 73.69 in 2025Q4 appears exceptionally high, yet this metric is likely distorted by the inclusion of substantial restricted cash deposits required by institutional partners, which are not readily available for general corporate purposes or dividend payments.
While the balance sheet appears robust with minimal debt, the liquidity position is less flexible than the headline numbers suggest. Analysts should distinguish between total cash and unrestricted cash to accurately assess the company's true capacity to navigate potential regulatory shocks or fund international growth initiatives.
The P/E ratio is the most commonly misapplied metric for FinVolution, as it fails to account for the significant non-cash provisions and restricted cash balances that artificially depress or inflate reported net income, thereby obscuring the company's actual cash-generating capacity and long-term economic value.
Investors should instead focus on adjusted free cash flow and the 'take rate' to better understand the underlying profitability of the facilitation business. Relying on P/E multiples in this context risks ignoring the impact of guarantee liabilities and the cyclical nature of institutional funding costs on the bottom line.
Includes 30+ ratios · 11 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Quick answers to the most common questions about buying FINV stock.
FinVolution Group's current P/E ratio is 3.4x. The historical average is 0.5x. This places it at the 100th percentile of its historical range.
FinVolution Group's current EV/EBITDA is 1.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
FinVolution Group's return on equity (ROE) is 15.3%. The historical average is 29.3%.
Based on historical data, FinVolution Group is trading at a P/E of 3.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FinVolution Group's current dividend yield is 5.97% with a payout ratio of 20.6%.
FinVolution Group has 78.6% gross margin and 21.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
FinVolution Group's Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.