So-Young International Inc.(SY)Earnings, Financials & Key Ratios
SY•NASDAQ
$1.70
Price updated Jul 7, 2026
AboutSo-Young International Inc. operates an online platform for medical aesthetics and consumption healthcare services focusing on discretionary medical treatments in the People's Republic of China and internationally. Its platform enables users to discover content and share their own experience on medical aesthetics procedures and leads users to reserve treatment services from medical aesthetic service providers for offline treatment. The company facilitates research on medical aesthetic treatment trends; ratings and reviews on treatment experiences; and blogs under the name Beauty Diaries. It also provides reservation services in the areas of dermatology, dentistry and orthodontics, ophthalmology, physical examinations, gynecology, human papilloma virus vaccines, and postnatal care; Software as a Service; and guiding and consulting services through training programs for medical service providers. In addition, the company offers internet information and technology advisory, management consulting, and Internet culture services, as well as sells medical equipment; equipment production, sales, and agency services; and micro finance services. As of December 31, 2021, it had approximately 8,400 medical aesthetic service providers and 5,000 other consumption healthcare service providers on its platform. The company was founded in 2013 and is headquartered in Beijing, China.Show more
- Revenue$1.48B+1.0%
- EBITDA-$202M+65.1%
- Net Income-$236M+60.0%
- EPS (Diluted)-1.78+59.5%
- Gross Margin47.77%-22.1%
- EBITDA Margin-13.63%+65.4%
- Operating Margin-17.49%+58.9%
- Net Margin-15.91%+60.4%
- ROE-12.99%+50.2%
SY Price & Volume
So-Young International Inc. (SY) stock price & volume — 10-year historical chart
Loading chart...
Strategic Pivot Triggers Significant Margin Erosion
Investment Thesis • Updated 2025Q4
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Healthy
Cash Flow:Burning
Primary Risk:Strategic Pivot Execution Risk
Key Thesis Takeaways
- So-Young International is undergoing a high-risk transition from an asset-light digital platform to a capital-intensive medical equipment distributor, which has fundamentally altered its financial profile.
- While revenue grew 23.1% in 2025Q4, the shift toward lower-margin hardware has compressed gross margins to 44.4% and resulted in a net loss of $107.3 million.
- Investors should monitor whether this infrastructure-heavy strategy can achieve scale, as current capital expenditures of $196.6 million per quarter continue to outpace operational cash generation.
Verdict Logic
the company's transition to a capital-intensive model has resulted in a 2025Q4 net margin of -23.6% and a concerning free cash flow margin of -66.5%.
SY Growth Metrics
So-Young International Inc. (SY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years2.73%
3 Years5.62%
TTM3.43%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM59.15%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM58.6%
Return on Capital
10 Years-10.28%
5 Years-9.32%
3 Years-13.83%
Last Year-13.05%
SY Recent Earnings
So-Young International Inc. (SY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 22, 2026Metric
Actual
Est
EPS
$0.07+33.3%
$0.10
Rev
$63M+4.2%
$60M
Q2 2026
Mar 25, 2026Metric
Actual
Est
EPS
$0.13-33.5%
$0.10
Rev
$66M+5.5%
$62M
Q4 2025
Nov 17, 2025Metric
Actual
Est
EPS
$0.09+86.8%
$0.68
Rev
$54M-87.7%
$443M
Q3 2025
Aug 15, 2025Metric
Actual
Est
EPS
$0.04+88.0%
$0.33
Rev
$53M-86.3%
$387M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 22, 2026 | $0.07vs $0.10+33.3% | $63Mvs $60M+4.2% |
| Q2 2026 | Mar 25, 2026 | $0.13vs $0.10-33.5% | $66Mvs $62M+5.5% |
| Q4 2025 | Nov 17, 2025 | $0.09vs $0.68+86.8% | $54Mvs $443M-87.7% |
| Q3 2025 | Aug 15, 2025 | $0.04vs $0.33+88.0% | $53Mvs $387M-86.3% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for So-Young International Inc. (SY)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1.70 | $223.06M | -6.49 | 1.04% | -15.91% | -12.99% | 1.25% | |
| $39.18 | $9.11B | 16.46 | 0.22% | 18.83% | — | — | |
| $26.55 | $1.46B | 11.85 | 3.75% | 9.47% | 19.7% | — | |
| $6.44 | $258.27M | 6.85 | -13.04% | 1.93% | 2.06% | — | |
| $22.74 | $4.25B | 23.20 | 13.05% | 30.4% | 19.36% | — | |
| $1.11 | $143.86M | -6.94 | -10.02% | -2.03% | -9.41% | — |
Compare SY vs Peers
So-Young International Inc. (SY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Get notified when SY posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
SY Frequently Asked Questions
So-Young International Inc. (SY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is So-Young International Inc.'s revenue?
So-Young International Inc. (SY) reported $1.52B in revenue for fiscal year 2025. This represents a 2990% increase from $49.1M in 2016.
How fast is So-Young International Inc. growing?
So-Young International Inc. (SY) grew revenue by 1.0% over the past year. Growth has been modest.
Is SY profitable?
So-Young International Inc. (SY) reported a net loss of $240.8M for fiscal year 2025.
Dividend & Returns
Does SY pay dividends?
Yes, So-Young International Inc. (SY) pays a dividend with a yield of 1.25%. This makes it attractive for income-focused investors.
What is SY's return on equity?
So-Young International Inc. (SY) has a return on equity (ROE) of -13.0%. Negative ROE indicates the company is unprofitable.
What is So-Young International Inc.'s free cash flow?
So-Young International Inc. (SY) had negative free cash flow of $302.0M in fiscal year 2025, likely due to heavy capital investments.