Latest Ratios: P/E Ratio 0.9x · EV/EBITDA -1.3x · ROE N/A. (2021–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Market Cap | $114M | — | — | — | — |
| Enterprise Value | $-162715018 | — | — | — | — |
| P/E Ratio → | 0.88 | — | — | — | — |
| P/S Ratio | 0.24 | — | — | — | — |
| P/B Ratio | — | — | — | — | — |
| P/FCF | 0.65 | — | — | — | — |
| P/OCF | 0.64 | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — |
| EV / EBITDA | -1.27 | — | — | — | — |
| EV / EBIT | -1.29 | — | — | — | — |
| EV / FCF | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Gross Margin | 94.9% | 94.9% | 93.3% | 92.6% | 83.6% |
| Operating Margin | 26.1% | 26.1% | 8.6% | -1.9% | -104.7% |
| Net Profit Margin | 26.4% | 26.4% | 9.9% | 2.2% | -114.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | — | — | — | — | — |
| ROA | 40.3% | 40.3% | 15.6% | 2.0% | -55.9% |
| ROIC | — | — | — | — | — |
| ROCE | 63.0% | 63.0% | 23.5% | -2.9% | -77.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — |
| Debt / EBITDA | 0.02 | 0.02 | 0.16 | — | — |
| Net Debt / Equity | — | — | — | — | — |
| Net Debt / EBITDA | -2.16 | -2.16 | -4.35 | — | — |
| Debt / FCF | — | -1.57 | -1.90 | -4.10 | — |
| Interest Coverage | — | — | — | — | — |
Net cash position: cash ($1.9B) exceeds total debt ($19M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 2.84 | 2.84 | 2.22 | 2.10 | 2.68 |
| Quick Ratio | 2.84 | 2.84 | 2.22 | 2.10 | 2.68 |
| Cash Ratio | 2.47 | 2.47 | 1.77 | 1.36 | 2.16 |
| Asset Turnover | — | 1.18 | 1.34 | 0.79 | 0.49 |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | 100.0% | — | — | — | — |
| FCF Yield | 100.0% | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — |
| Shares Outstanding | — | $8M | $8M | $8M | $8M |
Regulatory commission cap exposure
As reported in recent financial filings, Yuanbao has successfully compressed its combined ratio from 97.0% in 2022Q4 to 69.4% by 2025Q3, indicating a significant enhancement in operational efficiency and a successful transition toward a more profitable, tech-enabled service model that minimizes direct underwriting risk exposure.
The consistent downward trend in the combined ratio suggests that the company's proprietary 'Smart Matching' engine is effectively reducing the expense ratio, which fell from 90.2% to 65.5% over the same period. This improvement implies that the platform is achieving meaningful scale benefits, allowing it to generate underwriting-like margins without the volatility of traditional risk retention.
Based on the latest quarterly data, Yuanbao achieved a 13.2% ROE in 2025Q3, reflecting a robust profitability profile that appears to be driven by high-margin system services rather than traditional investment income, which remains limited by the company's conservative, cash-heavy balance sheet strategy.
The decomposition of profitability suggests that the company's earnings are primarily derived from its ability to scale transaction volumes while maintaining a lean cost structure. Investors should monitor whether this ROE level is sustainable, as it currently relies heavily on operational efficiency rather than the investment yield on float typically seen in traditional insurance carriers.
According to current market data, Yuanbao trades at a P/S multiple of 0.24, which appears to significantly discount the company's 60.60% year-over-year revenue growth and its successful transition to a positive equity position, suggesting that the market may be mispricing the firm's long-term digital distribution franchise.
The lack of a meaningful P/B ratio due to historical equity volatility complicates traditional valuation, yet the current price levels suggest investors are applying a substantial 'recent entrant' discount. This valuation may indicate skepticism regarding the durability of the company's high gross margins in the face of potential regulatory intervention in the Chinese insurance market.
Analysts frequently misapply the combined ratio to Yuanbao by ignoring its role as a technology-driven intermediary, which obscures the fact that the company does not carry traditional underwriting risk and therefore should be evaluated on its 'Net Take Rate' rather than pure loss-ratio-based underwriting profitability.
Using the combined ratio as the primary KPI for Yuanbao may lead to an incomplete assessment, as it fails to capture the value of the 'System Services' segment which functions more like a software-as-a-service model. Investors should instead focus on the CAC-to-LTV ratio and the sustainability of commission revenue to better understand the company's true economic engine.
Includes 30+ ratios · 4 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying YB stock.
Yuanbao Inc. American Depositary Shares's current P/E ratio is 0.9x. This places it at the 50th percentile of its historical range.
Yuanbao Inc. American Depositary Shares's current EV/EBITDA is -1.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Based on historical data, Yuanbao Inc. American Depositary Shares is trading at a P/E of 0.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Yuanbao Inc. American Depositary Shares has 94.9% gross margin and 26.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Yuanbao Inc. American Depositary Shares's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.