Cheetah Mobile Inc. (CMCM) Balance Sheet

NYSE: CMCMAssets, liabilities, debt and equity over 10 years.

CMCM balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥4.68B assets = CN¥2.73B liabilities + CN¥1.96B equity

Both columns are drawn to the same scale: what CMCM owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CMCM financial health

Current ratio1.27

Adequate · current assets cover current liabilities 1.27×

Debt / equity0.01

Low leverage · CN¥0.01 of debt for each $1 of equity

Equity / assets34.3%

Balanced · of assets funded by shareholders

Cash / debt9,945.2%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles11.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

CMCM balance sheet trends, 2016–2025

Cheetah Mobile Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥5.54B2016	CN¥4.68B2025	−1.9%/yr
Total liabilities	CN¥2.34B2016	CN¥2.73B2025	+1.7%/yr
Shareholders’ equity	CN¥3.01B2016	CN¥1.61B2025	−6.7%/yr
Cash & short-term investments	CN¥1.77B2016	CN¥1.52B2025	−1.7%/yr
Total debt	CN¥498.3M2016	CN¥15.2M2025	−32.1%/yr
Net cash (debt)	CN¥1.27B2016	CN¥1.50B2025	+CN¥226.7M
Working capital	CN¥1.10B2016	CN¥684.4M2025	−CN¥414.4M
Current ratio	1.532016	1.272025	−0.26
Debt / equity	0.172016	0.012025	−0.16
Shares outstanding	555K2016	613K2025	+1.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CMCM assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CMCM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CMCM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CMCM balance sheet in Chinese yuan

Cheetah Mobile Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	CN¥1.52B	CN¥1.83B	CN¥2.02B	CN¥1.67B	CN¥1.85B	CN¥1.66B	CN¥2.35B	CN¥3.71B	CN¥3.71B	CN¥1.77B
Cash & equivalents	CN¥1.51B	CN¥1.83B	CN¥2.02B	CN¥1.52B	CN¥1.58B	CN¥1.30B	CN¥983.0M	CN¥2.78B	CN¥2.32B	CN¥1.41B
Short-term investments	CN¥9.5M	CN¥335,000	CN¥1.0M	CN¥156.2M	CN¥262.8M	CN¥360.8M	CN¥1.37B	CN¥930.6M	CN¥1.40B	CN¥361.5M
Receivables	CN¥1.50B	CN¥1.73B	CN¥410.7M	CN¥482.9M	CN¥591.4M	CN¥449.9M	CN¥1.06B	CN¥782.3M	CN¥1.25B	CN¥645.2M
Inventory	CN¥53.7M	CN¥59.2M	CN¥40.6M	CN¥16.7M	CN¥15.4M	CN¥24.1M	CN¥31.3M	CN¥12.2M	CN¥26.8M	CN¥727.8M
Other current assets	CN¥162.4M	CN¥154.8M	CN¥994.4M	CN¥952.1M	CN¥145.0M	CN¥805.9M	CN¥546.6M	CN¥1.06B	CN¥411.7M	CN¥26.7M
Total current assets	CN¥3.23B	CN¥3.78B	CN¥3.47B	CN¥3.12B	CN¥2.60B	CN¥2.94B	CN¥3.99B	CN¥5.57B	CN¥5.40B	CN¥3.17B
Property, plant & equipment (net)	CN¥57.1M	CN¥77.9M	CN¥84.3M	CN¥98.3M	CN¥147.0M	CN¥119.7M	CN¥287.0M	CN¥63.9M	CN¥89.1M	CN¥117.4M
Goodwill & intangible assets	CN¥514.1M	CN¥614.8M	CN¥795.5M	CN¥8.4M	CN¥10.1M	CN¥12.6M	CN¥44.5M	CN¥666.3M	CN¥704.4M	CN¥1.17B
Long-term investments	CN¥688.5M	CN¥808.7M	CN¥937.5M	CN¥1.79B	CN¥1.99B	CN¥2.41B	CN¥2.52B	CN¥1.85B	CN¥1.15B	CN¥977.2M
Other non-current assets	CN¥190.4M	CN¥223.3M	CN¥348.9M	CN¥116.7M	CN¥228.4M	CN¥145.0M	CN¥170.2M	CN¥145.9M	CN¥105.8M	CN¥103.1M
Total assets	CN¥4.68B	CN¥5.50B	CN¥5.63B	CN¥5.14B	CN¥4.98B	CN¥5.63B	CN¥7.01B	CN¥8.29B	CN¥7.45B	CN¥5.54B
Liabilities
Accounts payable	CN¥211.7M	CN¥219.6M	CN¥170.2M	CN¥133.8M	CN¥134.9M	CN¥114.6M	CN¥119.9M	CN¥171.1M	CN¥164.5M	CN¥194.9M
Short-term debt	CN¥9.0M	CN¥61.9M	CN¥18.3M	CN¥14.4M	CN¥17.5M	CN¥6.9M	CN¥58.5M	CN¥147.9M	CN¥336.3M	CN¥379.5M
Deferred revenue	CN¥457.3M	CN¥460.4M	CN¥40.3M	CN¥330.6M	CN¥294.3M	CN¥181.4M	CN¥207.8M	CN¥138.2M	CN¥142.5M	CN¥48.7M
Total current liabilities	CN¥2.55B	CN¥3.08B	CN¥2.73B	CN¥1.78B	CN¥1.35B	CN¥1.57B	CN¥1.69B	CN¥1.84B	CN¥2.17B	CN¥2.07B
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥15.2M	CN¥25.6M	CN¥31.0M	CN¥41.5M	CN¥48.1M	CN¥18.8M	CN¥58.5M	CN¥0	CN¥0	CN¥0
Other long-term liabilities	CN¥176.1M	CN¥215.4M	CN¥244.5M	CN¥256.1M	CN¥264.3M	CN¥252.8M	CN¥330.6M	CN¥862.3M	CN¥777.2M	CN¥266.5M
Total liabilities	CN¥2.73B	CN¥3.30B	CN¥2.97B	CN¥2.03B	CN¥1.62B	CN¥1.83B	CN¥2.02B	CN¥2.70B	CN¥2.94B	CN¥2.34B
Shareholders' equity
Common stock & paid-in capital	CN¥254,000	CN¥248,000	CN¥244,000	CN¥236,000	CN¥235,000	CN¥234,000	CN¥225,000	CN¥230,000	CN¥229,000	CN¥230,000
Retained earnings (deficit)	−CN¥1.49B	−CN¥1.23B	−CN¥613.1M	−CN¥9.4M	CN¥505.1M	CN¥868.8M	CN¥1.94B	CN¥2.71B	CN¥1.56B	CN¥237.3M
Treasury stock	—	—	—	—	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Accumulated other comprehensive income	CN¥362.2M	CN¥410.4M	CN¥356.9M	CN¥353.9M	CN¥88.3M	CN¥163.3M	CN¥337.8M	CN¥249.3M	CN¥84.2M	CN¥230.3M
Minority interest	CN¥350.7M	CN¥306.5M	CN¥204.7M	CN¥71.5M	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Total shareholders' equity	CN¥1.61B	CN¥1.90B	CN¥2.46B	CN¥3.03B	CN¥3.36B	CN¥3.76B	CN¥4.93B	CN¥5.59B	CN¥4.29B	CN¥3.01B
Key figures
Total debt	CN¥15.2M	CN¥74.8M	CN¥36.0M	CN¥41.5M	CN¥48.1M	CN¥18.8M	CN¥58.5M	CN¥147.9M	CN¥336.3M	CN¥498.3M
Net cash (debt)	CN¥1.50B	CN¥1.76B	CN¥1.99B	CN¥1.63B	CN¥1.80B	CN¥1.64B	CN¥2.29B	CN¥3.57B	CN¥3.38B	CN¥1.27B
Working capital	CN¥684.4M	CN¥697.9M	CN¥738.8M	CN¥1.35B	CN¥1.24B	CN¥1.37B	CN¥2.31B	CN¥3.73B	CN¥3.23B	CN¥1.10B
Tangible book value	CN¥1.09B	CN¥1.29B	CN¥1.66B	CN¥3.02B	CN¥3.35B	CN¥3.75B	CN¥4.89B	CN¥4.93B	CN¥3.59B	CN¥1.84B
Shares outstanding	613K	601K	589K	577K	28.6M	560K	548K	28.8M	570K	555K
Current ratio	1.27	1.23	1.27	1.76	1.92	1.87	2.37	3.03	2.49	1.53
Quick ratio	1.18	1.16	0.89	1.21	1.80	1.34	2.03	2.45	2.29	1.17
Debt / equity	0.01	0.04	0.01	0.01	0.01	0.01	0.01	0.03	0.08	0.17
Equity / assets	34.3%	34.5%	43.6%	59.0%	67.5%	66.8%	70.3%	67.5%	57.6%	54.4%

Cheetah Mobile Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥1.27B	CN¥1.29B	CN¥1.52B	CN¥1.60B	CN¥2.02B	CN¥1.70B	CN¥1.83B	CN¥1.53B	CN¥1.97B	CN¥1.79B	CN¥2.02B	CN¥2.02B
Cash & equivalents	CN¥1.27B	CN¥1.28B	CN¥1.51B	CN¥1.60B	CN¥2.02B	CN¥1.70B	CN¥1.83B	CN¥1.53B	CN¥1.97B	CN¥1.79B	CN¥2.02B	CN¥2.02B
Short-term investments	CN¥445,000	CN¥9.5M	CN¥9.5M	CN¥863,000	CN¥336,000	CN¥321,000	CN¥335,000	CN¥345,000	CN¥331,000	CN¥328,000	CN¥1.0M	CN¥1.0M
Receivables	CN¥824.5M	CN¥590.4M	CN¥563.2M	CN¥570.3M	CN¥554.8M	CN¥502.6M	CN¥473.6M	CN¥526.0M	CN¥555.3M	CN¥516.0M	CN¥401.1M	CN¥410.7M
Inventory	CN¥0	CN¥53.7M	CN¥53.7M	CN¥0	CN¥0	CN¥59.2M	CN¥46.7M	CN¥0	CN¥0	CN¥28.0M	CN¥40.6M	CN¥28.0M
Other current assets	CN¥1.17B	CN¥1.03B	CN¥1.10B	CN¥1.12B	CN¥1.00B	CN¥947.1M	CN¥1.43B	CN¥1.35B	CN¥1.33B	CN¥1.20B	CN¥1.00B	CN¥1.01B
Total current assets	CN¥3.27B	CN¥2.97B	CN¥3.24B	CN¥3.28B	CN¥3.58B	CN¥3.21B	CN¥3.78B	CN¥3.41B	CN¥3.86B	CN¥3.54B	CN¥3.47B	CN¥3.47B
Property, plant & equipment (net)	CN¥58.6M	CN¥55.3M	CN¥57.1M	CN¥59.9M	CN¥62.5M	CN¥64.9M	CN¥77.9M	CN¥84.4M	CN¥86.3M	CN¥77.2M	CN¥84.3M	CN¥84.3M
Goodwill & intangible assets	CN¥508.2M	CN¥511.4M	CN¥568.5M	CN¥665.7M	CN¥600.9M	CN¥607.6M	CN¥614.8M	CN¥774.1M	CN¥781.5M	CN¥788.4M	CN¥795.5M	CN¥795.5M
Long-term investments	CN¥600.1M	CN¥692.2M	CN¥688.5M	CN¥761.4M	CN¥791.2M	CN¥813.1M	CN¥808.7M	CN¥885.9M	CN¥866.9M	CN¥933.0M	CN¥894.1M	CN¥0
Other non-current assets	CN¥207.1M	CN¥191.3M	CN¥136.9M	CN¥210.0M	CN¥208.8M	CN¥209.4M	CN¥223.3M	CN¥279.8M	CN¥300.3M	CN¥279.7M	CN¥392.3M	CN¥1.29B
Total assets	CN¥4.64B	CN¥4.42B	CN¥4.69B	CN¥4.98B	CN¥5.24B	CN¥4.90B	CN¥5.50B	CN¥5.43B	CN¥5.90B	CN¥5.62B	CN¥5.63B	CN¥5.63B
Liabilities
Accounts payable	CN¥413.2M	CN¥288.2M	CN¥211.8M	CN¥207.4M	CN¥227.0M	CN¥220.1M	CN¥219.6M	CN¥176.3M	CN¥159.8M	CN¥172.2M	CN¥170.2M	CN¥170.2M
Short-term debt	CN¥2.9M	CN¥9.0M	—	—	—	CN¥12.7M	—	—	—	CN¥5.0M	—	CN¥58.6M
Deferred revenue	—	CN¥457.3M	—	—	—	CN¥460.4M	—	—	—	CN¥372.2M	—	—
Total current liabilities	CN¥2.66B	CN¥2.32B	CN¥2.55B	CN¥2.59B	CN¥2.87B	CN¥2.51B	CN¥3.08B	CN¥2.70B	CN¥3.09B	CN¥2.70B	CN¥2.73B	CN¥2.73B
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	—	—	CN¥15.2M	—	—	—	CN¥25.6M	—	—	—	CN¥31.0M	—
Other long-term liabilities	CN¥175.7M	CN¥174.9M	CN¥176.2M	CN¥209.6M	CN¥208.2M	CN¥211.4M	CN¥215.4M	CN¥222.6M	CN¥234.0M	CN¥233.6M	CN¥244.5M	CN¥244.5M
Total liabilities	CN¥2.84B	CN¥2.50B	CN¥2.73B	CN¥2.80B	CN¥3.07B	CN¥2.72B	CN¥3.30B	CN¥2.93B	CN¥3.32B	CN¥2.93B	CN¥2.97B	CN¥2.97B
Shareholders' equity
Common stock & paid-in capital	CN¥257,000	CN¥254,000	CN¥254,160	CN¥254,000	CN¥249,000	CN¥248,000	—	CN¥247,000	CN¥246,000	CN¥244,000	—	CN¥244,000
Retained earnings (deficit)	−CN¥1.60B	−CN¥1.51B	−CN¥1.49B	−CN¥1.30B	−CN¥1.29B	−CN¥1.27B	−CN¥1.23B	−CN¥865.4M	−CN¥817.0M	−CN¥693.1M	−CN¥613.1M	−CN¥613.1M
Accumulated other comprehensive income	CN¥297.7M	CN¥332.5M	CN¥362.5M	CN¥391.3M	CN¥403.0M	CN¥411.4M	—	CN¥349.8M	CN¥381.3M	CN¥380.9M	—	CN¥356.9M
Minority interest	CN¥368.3M	CN¥357.6M	CN¥350.7M	CN¥368.4M	CN¥326.2M	—	—	—	—	—	—	—
Total shareholders' equity	CN¥1.43B	CN¥1.56B	CN¥1.61B	CN¥1.82B	CN¥1.84B	CN¥1.88B	CN¥1.90B	CN¥2.20B	CN¥2.28B	CN¥2.40B	CN¥2.46B	CN¥2.46B
Key figures
Total debt	CN¥2.9M	CN¥15.2M	—	—	—	CN¥25.6M	—	—	—	CN¥5.0M	—	CN¥76.3M
Net cash (debt)	CN¥1.27B	CN¥1.27B	—	—	—	CN¥1.67B	—	—	—	CN¥1.79B	—	CN¥1.94B
Working capital	CN¥604.7M	CN¥644.1M	CN¥684.8M	CN¥698.0M	CN¥710.2M	CN¥703.4M	CN¥697.9M	CN¥704.9M	CN¥775.2M	CN¥844.4M	CN¥738.8M	CN¥738.8M
Tangible book value	CN¥926.3M	CN¥1.05B	CN¥1.04B	CN¥1.15B	CN¥1.24B	CN¥1.27B	CN¥1.29B	CN¥1.43B	CN¥1.50B	CN¥1.62B	CN¥1.66B	CN¥1.66B
Shares outstanding	622K	621K	620K	619K	607K	606K	1.52B	604K	598K	598K	1.49B	597K
Current ratio	1.23	1.28	1.27	1.27	1.25	1.28	1.23	1.26	1.25	1.31	1.27	1.27
Quick ratio	0.79	0.81	0.82	0.84	0.90	0.88	0.75	0.76	0.82	0.86	0.89	0.89
Debt / equity	0.00	0.01	—	—	—	0.01	—	—	—	0.00	—	0.03
Equity / assets	30.9%	35.4%	34.3%	36.5%	35.1%	38.3%	34.5%	40.6%	38.7%	42.8%	43.6%	43.6%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 23, 2026); data from EODHD.

CMCM financial position

At the end of fiscal 2025 (December 31, 2025), Cheetah Mobile had total assets of CN¥4.7 billion (down 14.9% from a year earlier), total liabilities of CN¥2.7 billion and shareholders' equity of CN¥1.6 billion. It held CN¥1.5 billion in cash and short-term investments against CN¥15.2 million of debt, a net cash position of CN¥1.5 billion. Its current ratio was 1.27. In the latest quarter (ended June 30, 2026) total assets were CN¥4.6 billion and equity CN¥1.4 billion.

Related: CMCM income statement, CMCM cash flow statement, CMCM key metrics. See the CMCM stock overview for the latest quote and news.

CMCM balance sheet FAQ

What are Cheetah Mobile's total assets?

Cheetah Mobile reported total assets of CN¥4.7 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥5.5 billion a year earlier.

How much debt does Cheetah Mobile have?

Cheetah Mobile had CN¥15.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.

How much cash does Cheetah Mobile have?

Cheetah Mobile held CN¥1.5 billion in cash and short-term investments at the end of fiscal 2025; with CN¥15.2 million of debt that is net cash of CN¥1.5 billion.

What is Cheetah Mobile's book value?

Cheetah Mobile's shareholders' equity (book value) was CN¥1.6 billion at the end of fiscal 2025.

What is Cheetah Mobile's current ratio?

Cheetah Mobile had current assets of CN¥3.2 billion and current liabilities of CN¥2.5 billion, a current ratio of 1.27 (it can cover its short-term obligations).

How much goodwill does Cheetah Mobile have?

Cheetah Mobile carried CN¥514.1 million of goodwill and intangible assets, 11.0% of total assets, at the end of fiscal 2025.