iQIYI, Inc (IQ) Balance Sheet

NASDAQ: IQAssets, liabilities, debt and equity over 10 years.

IQ balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥46.68B assets = CN¥33.37B liabilities + CN¥13.31B equity

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

IQ financial health

Current ratio0.47

Tight · current assets cover current liabilities 0.47×

Debt / equity1.14

Moderate leverage · CN¥1.14 of debt for each $1 of equity

Equity / assets28.5%

Balanced · of assets funded by shareholders

Cash / debt30.6%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles52.7%

Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

IQ balance sheet trends, 2016–2025

iQIYI, Inc balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥13.63B2016	CN¥46.68B2025	+14.7%/yr
Total liabilities	CN¥28.94B2016	CN¥33.37B2025	+1.6%/yr
Shareholders’ equity	−CN¥15.30B2016	CN¥13.32B2025	—
Cash & short-term investments	CN¥1.87B2016	CN¥4.67B2025	+10.7%/yr
Total debt	CN¥100.0M2016	CN¥15.25B2025	+74.8%/yr
Net cash (debt)	CN¥1.77B2016	−CN¥10.58B2025	−CN¥12.3B
Working capital	−CN¥6.74B2016	−CN¥11.78B2025	−CN¥5.0B
Current ratio	0.432016	0.472025	+0.03
Debt / equity	0.072017	1.142025	+1.07
Shares outstanding	726.4M2016	963.8M2025	+3.2%/yr

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

IQ assets

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

IQ liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

IQ debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

IQ balance sheet in Chinese yuan

iQIYI, Inc annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	CN¥4.67B	CN¥4.47B	CN¥5.38B	CN¥7.92B	CN¥4.35B	CN¥14.27B	CN¥10.51B	CN¥10.65B	CN¥1.51B	CN¥1.87B
Cash & equivalents	CN¥4.35B	CN¥3.53B	CN¥4.43B	CN¥7.10B	CN¥3.00B	CN¥10.92B	CN¥5.93B	CN¥4.59B	CN¥733.0M	CN¥964.2M
Short-term investments	CN¥314.8M	CN¥941.6M	CN¥941.7M	CN¥818.3M	CN¥1.35B	CN¥3.36B	CN¥4.58B	CN¥6.06B	CN¥779.9M	CN¥903.0M
Receivables	CN¥4.53B	CN¥4.13B	CN¥6.01B	CN¥4.37B	CN¥4.82B	CN¥4.95B	CN¥5.61B	CN¥4.48B	CN¥2.25B	CN¥1.84B
Inventory	CN¥0	CN¥0	CN¥568.2M	CN¥13.6M	CN¥77.7M	CN¥25.2M	CN¥974.9M	CN¥2.17B	CN¥178.1M	CN¥197.1M
Other current assets	CN¥1.09B	CN¥926.9M	CN¥681.9M	CN¥1.49B	CN¥2.28B	CN¥3.04B	CN¥3.17B	CN¥2.55B	CN¥1.76B	CN¥1.25B
Total current assets	CN¥10.29B	CN¥9.53B	CN¥12.64B	CN¥13.79B	CN¥11.52B	CN¥22.29B	CN¥20.27B	CN¥19.85B	CN¥5.70B	CN¥5.15B
Property, plant & equipment (net)	CN¥1.39B	CN¥1.49B	CN¥1.55B	CN¥1.78B	CN¥2.25B	CN¥2.40B	CN¥2.48B	CN¥1.62B	CN¥1.25B	CN¥539.2M
Goodwill & intangible assets	CN¥24.58B	CN¥11.04B	CN¥11.10B	CN¥24.11B	CN¥22.64B	CN¥17.51B	CN¥15.34B	CN¥15.94B	CN¥9.83B	CN¥6.52B
Long-term investments	CN¥1.77B	CN¥2.11B	CN¥2.26B	CN¥2.45B	CN¥3.04B	CN¥3.20B	CN¥2.98B	CN¥2.57B	CN¥567.9M	CN¥183.8M
Other non-current assets	CN¥8.65B	CN¥21.60B	CN¥17.05B	CN¥3.93B	CN¥3.02B	CN¥2.79B	CN¥3.72B	CN¥4.77B	CN¥2.86B	CN¥1.24B
Total assets	CN¥46.68B	CN¥45.76B	CN¥44.59B	CN¥46.05B	CN¥42.47B	CN¥48.19B	CN¥44.79B	CN¥44.76B	CN¥20.20B	CN¥13.63B
Liabilities
Accounts payable	CN¥6.65B	CN¥6.48B	CN¥5.67B	CN¥5.99B	CN¥8.90B	CN¥7.56B	CN¥8.21B	CN¥10.16B	CN¥7.04B	CN¥4.18B
Short-term debt	CN¥4.82B	CN¥4.34B	CN¥6.52B	CN¥12.46B	CN¥4.29B	CN¥8.83B	CN¥3.54B	CN¥3.18B	CN¥309.4M	CN¥100.0M
Deferred revenue	CN¥4.18B	CN¥50.0M	CN¥18.6M	CN¥4.25B	CN¥3.48B	CN¥3.44B	CN¥3.08B	CN¥2.20B	CN¥1.63B	CN¥796.7M
Total current liabilities	CN¥22.07B	CN¥21.48B	CN¥22.34B	CN¥28.13B	CN¥22.48B	CN¥24.85B	CN¥20.17B	CN¥19.81B	CN¥11.63B	CN¥11.89B
Long-term debt	CN¥10.08B	CN¥9.39B	CN¥8.24B	CN¥9.57B	CN¥12.65B	CN¥11.93B	CN¥13.19B	CN¥5.36B	CN¥284.0M	CN¥0
Lease obligations	CN¥424.4M	CN¥558.6M	CN¥624.6M	CN¥612.1M	CN¥797.3M	CN¥969.0M	CN¥528.1M	CN¥0	CN¥0	CN¥0
Other long-term liabilities	CN¥1.22B	CN¥1.52B	CN¥1.83B	CN¥2.01B	CN¥1.67B	CN¥1.96B	CN¥1.82B	CN¥1.44B	CN¥8.7M	CN¥17.05B
Total liabilities	CN¥33.37B	CN¥32.39B	CN¥32.41B	CN¥39.70B	CN¥36.80B	CN¥38.85B	CN¥35.18B	CN¥26.60B	CN¥11.92B	CN¥28.94B
Shareholders' equity
Common stock & paid-in capital	CN¥432,000	CN¥431,000	CN¥430,000	CN¥387,000	CN¥356,000	CN¥348,000	CN¥325,000	CN¥321,000	CN¥265,000	CN¥23,000
Retained earnings (deficit)	−CN¥44.02B	−CN¥43.81B	−CN¥44.57B	−CN¥46.50B	−CN¥47.16B	−CN¥40.97B	−CN¥33.83B	−CN¥23.51B	−CN¥15.02B	−CN¥15.99B
Treasury stock	—	—	—	—	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Accumulated other comprehensive income	CN¥1.31B	CN¥1.55B	CN¥1.69B	CN¥1.86B	CN¥2.71B	CN¥2.54B	CN¥2.11B	CN¥1.88B	CN¥93.1M	CN¥359.4M
Minority interest	−CN¥7.6M	CN¥8.3M	CN¥98.4M	CN¥92.8M	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Total shareholders' equity	CN¥13.32B	CN¥13.37B	CN¥12.09B	CN¥6.25B	CN¥5.19B	CN¥9.26B	CN¥9.57B	CN¥18.04B	CN¥8.28B	−CN¥15.30B
Key figures
Total debt	CN¥15.25B	CN¥14.19B	CN¥15.29B	CN¥22.53B	CN¥17.57B	CN¥22.18B	CN¥17.06B	CN¥8.49B	CN¥593.4M	CN¥100.0M
Net cash (debt)	−CN¥10.58B	−CN¥9.72B	−CN¥9.91B	−CN¥14.62B	−CN¥13.22B	−CN¥7.91B	−CN¥6.55B	CN¥2.16B	CN¥919.6M	CN¥1.77B
Working capital	−CN¥11.78B	−CN¥11.95B	−CN¥9.71B	−CN¥14.34B	−CN¥10.95B	−CN¥2.56B	CN¥99.7M	CN¥41.1M	−CN¥5.93B	−CN¥6.74B
Tangible book value	−CN¥11.26B	CN¥2.32B	CN¥989.7M	−CN¥17.85B	−CN¥17.46B	−CN¥8.25B	−CN¥5.77B	CN¥2.09B	−CN¥1.55B	−CN¥21.82B
Shares outstanding	963.8M	971.4M	974.8M	855.4M	795.8M	739.5M	729.3M	552.6M	726.4M	726.4M
Current ratio	0.47	0.44	0.57	0.49	0.51	0.90	1.00	1.00	0.49	0.43
Quick ratio	0.42	0.40	0.51	0.44	0.41	0.77	0.80	0.76	0.32	0.31
Debt / equity	1.14	1.06	1.27	3.60	3.39	2.40	1.78	0.47	0.07	—
Equity / assets	28.5%	29.2%	27.1%	13.6%	12.2%	19.2%	21.4%	40.3%	41.0%	−112.3%

iQIYI, 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¥4.13B	CN¥3.61B	CN¥4.67B	CN¥4.07B	CN¥4.25B	CN¥5.27B	CN¥4.47B	CN¥4.18B	CN¥7.04B	CN¥6.03B	CN¥5.38B	CN¥5.26B
Cash & equivalents	CN¥3.21B	CN¥2.94B	CN¥4.35B	CN¥3.96B	CN¥3.33B	CN¥4.32B	CN¥3.53B	CN¥3.24B	CN¥6.30B	CN¥5.05B	CN¥4.43B	CN¥4.23B
Short-term investments	CN¥917.8M	CN¥668.7M	CN¥314.8M	CN¥114.5M	CN¥917.2M	CN¥946.2M	CN¥941.6M	CN¥936.3M	CN¥735.9M	CN¥986.0M	CN¥941.7M	CN¥1.02B
Receivables	CN¥2.80B	CN¥2.77B	CN¥4.53B	CN¥2.52B	CN¥2.46B	CN¥2.65B	CN¥4.13B	CN¥2.56B	CN¥2.34B	CN¥4.44B	CN¥6.01B	CN¥2.68B
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥568.2M	CN¥6.1M
Other current assets	CN¥2.73B	CN¥3.35B	CN¥1.09B	CN¥2.77B	CN¥2.75B	CN¥2.89B	CN¥926.9M	CN¥2.83B	CN¥3.38B	CN¥3.33B	CN¥681.9M	CN¥3.65B
Total current assets	CN¥9.66B	CN¥9.72B	CN¥10.29B	CN¥9.36B	CN¥9.46B	CN¥10.81B	CN¥9.53B	CN¥9.56B	CN¥12.75B	CN¥13.80B	CN¥12.64B	CN¥11.59B
Property, plant & equipment (net)	CN¥1.41B	CN¥199.8M	CN¥1.39B	CN¥1.35B	CN¥1.35B	CN¥1.44B	CN¥1.49B	CN¥1.46B	CN¥1.49B	CN¥1.51B	CN¥1.55B	CN¥1.54B
Goodwill & intangible assets	CN¥10.10B	CN¥585.8M	CN¥24.58B	CN¥24.66B	CN¥25.23B	CN¥24.97B	CN¥11.04B	CN¥25.31B	CN¥25.38B	CN¥24.69B	CN¥11.10B	CN¥23.83B
Long-term investments	CN¥1.78B	CN¥1.79B	CN¥1.77B	CN¥1.96B	CN¥1.98B	CN¥2.10B	CN¥2.11B	CN¥2.05B	CN¥2.17B	CN¥2.22B	CN¥2.26B	CN¥2.37B
Other non-current assets	CN¥22.49B	CN¥33.88B	CN¥8.65B	CN¥8.46B	CN¥8.35B	CN¥7.80B	CN¥21.60B	CN¥6.44B	CN¥5.85B	CN¥4.08B	CN¥17.05B	CN¥4.78B
Total assets	CN¥45.44B	CN¥46.17B	CN¥46.68B	CN¥45.79B	CN¥46.36B	CN¥47.12B	CN¥45.76B	CN¥44.83B	CN¥47.65B	CN¥46.30B	CN¥44.59B	CN¥44.11B
Liabilities
Accounts payable	CN¥7.43B	CN¥1.06B	CN¥6.65B	CN¥6.75B	CN¥6.96B	CN¥6.48B	CN¥6.48B	CN¥6.49B	CN¥5.97B	CN¥5.90B	CN¥5.67B	CN¥5.94B
Short-term debt	CN¥3.64B	CN¥3.56B	CN¥4.82B	CN¥4.41B	CN¥5.04B	CN¥6.23B	CN¥4.34B	CN¥4.49B	CN¥7.28B	CN¥6.49B	CN¥6.52B	CN¥6.57B
Deferred revenue	CN¥4.19B	CN¥4.33B	CN¥4.18B	CN¥4.11B	CN¥4.46B	CN¥4.61B	CN¥50.0M	CN¥4.32B	CN¥4.54B	CN¥4.65B	CN¥18.6M	CN¥4.51B
Total current liabilities	CN¥21.50B	CN¥21.60B	CN¥22.07B	CN¥21.29B	CN¥22.54B	CN¥23.65B	CN¥21.48B	CN¥21.45B	CN¥24.02B	CN¥22.99B	CN¥22.34B	CN¥22.60B
Long-term debt	CN¥10.16B	CN¥10.33B	CN¥10.08B	CN¥9.98B	CN¥9.04B	CN¥8.36B	CN¥9.39B	CN¥8.68B	CN¥8.79B	CN¥8.68B	CN¥8.24B	CN¥8.35B
Lease obligations	CN¥410.5M	CN¥411.6M	CN¥424.4M	CN¥433.0M	CN¥445.5M	CN¥536.0M	CN¥558.6M	CN¥558.3M	CN¥586.6M	CN¥596.8M	CN¥624.6M	CN¥570.3M
Other long-term liabilities	CN¥1.20B	CN¥1.22B	CN¥1.22B	CN¥1.19B	CN¥1.27B	CN¥1.48B	CN¥1.52B	CN¥1.42B	CN¥1.82B	CN¥1.85B	CN¥1.83B	CN¥1.81B
Total liabilities	CN¥32.86B	CN¥33.15B	CN¥33.37B	CN¥32.45B	CN¥32.85B	CN¥33.48B	CN¥32.39B	CN¥31.55B	CN¥34.62B	CN¥33.53B	CN¥32.41B	CN¥32.76B
Shareholders' equity
Common stock & paid-in capital	CN¥434,147	CN¥433,000	CN¥432,000	CN¥432,000	CN¥431,000	CN¥431,000	CN¥431,000	CN¥431,000	CN¥431,000	CN¥430,000	CN¥430,000	CN¥429,000
Retained earnings (deficit)	−CN¥44.61B	−CN¥44.31B	−CN¥44.02B	−CN¥44.01B	−CN¥43.76B	−CN¥43.63B	−CN¥43.81B	−CN¥43.62B	−CN¥43.85B	−CN¥43.92B	−CN¥44.57B	−CN¥45.04B
Accumulated other comprehensive income	CN¥1.24B	CN¥1.27B	CN¥1.31B	CN¥1.41B	CN¥1.44B	CN¥1.53B	CN¥1.55B	CN¥1.39B	CN¥1.50B	CN¥1.51B	CN¥1.69B	CN¥1.48B
Minority interest	−CN¥90.4M	−CN¥46.2M	−CN¥7.6M	−CN¥6.3M	−CN¥9.4M	—	—	—	—	—	—	—
Total shareholders' equity	CN¥12.66B	CN¥13.07B	CN¥13.32B	CN¥13.34B	CN¥13.52B	CN¥13.64B	CN¥13.37B	CN¥13.21B	CN¥12.96B	CN¥12.71B	CN¥12.09B	CN¥11.26B
Key figures
Total debt	CN¥14.12B	CN¥14.22B	CN¥15.25B	CN¥14.74B	CN¥14.44B	CN¥15.03B	CN¥14.19B	CN¥13.64B	CN¥16.56B	CN¥15.68B	CN¥15.29B	CN¥15.39B
Net cash (debt)	−CN¥10.00B	−CN¥10.61B	−CN¥10.58B	−CN¥10.67B	−CN¥10.20B	−CN¥9.76B	−CN¥9.72B	−CN¥9.47B	−CN¥9.52B	−CN¥9.65B	−CN¥9.91B	−CN¥10.14B
Working capital	−CN¥11.85B	−CN¥11.87B	−CN¥11.78B	−CN¥11.93B	−CN¥13.09B	−CN¥12.83B	−CN¥11.95B	−CN¥11.89B	−CN¥11.26B	−CN¥9.19B	−CN¥9.71B	−CN¥11.01B
Tangible book value	CN¥2.56B	CN¥12.48B	−CN¥11.26B	−CN¥11.32B	−CN¥11.71B	−CN¥11.32B	CN¥2.32B	−CN¥12.11B	−CN¥12.42B	−CN¥11.97B	CN¥989.7M	−CN¥12.57B
Shares outstanding	959.2M	965.2M	964.8M	963.9M	963.4M	968.6M	962.7M	138.4M	981.2M	969.7M	976.4M	978.7M
Current ratio	0.45	0.45	0.47	0.44	0.42	0.46	0.44	0.45	0.53	0.60	0.57	0.51
Quick ratio	0.32	0.30	0.42	0.31	0.30	0.33	0.40	0.31	0.39	0.46	0.51	0.35
Debt / equity	1.12	1.09	1.14	1.11	1.07	1.10	1.06	1.03	1.28	1.23	1.27	1.37
Equity / assets	27.9%	28.3%	28.5%	29.1%	29.2%	29.0%	29.2%	29.5%	27.2%	27.5%	27.1%	25.5%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed March 16, 2026); data from EODHD.

IQ financial position

At the end of fiscal 2025 (December 31, 2025), iQIYI had total assets of CN¥46.7 billion (up 2.0% from a year earlier), total liabilities of CN¥33.4 billion and shareholders' equity of CN¥13.3 billion. It held CN¥4.7 billion in cash and short-term investments against CN¥15.2 billion of debt, net debt of CN¥10.6 billion. Its current ratio was 0.47. In the latest quarter (ended June 30, 2026) total assets were CN¥45.4 billion and equity CN¥12.7 billion.

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

IQ balance sheet FAQ

What are iQIYI's total assets?

iQIYI reported total assets of CN¥46.7 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥45.8 billion a year earlier.

How much debt does iQIYI have?

iQIYI had CN¥15.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.14.

How much cash does iQIYI have?

iQIYI held CN¥4.7 billion in cash and short-term investments at the end of fiscal 2025; with CN¥15.2 billion of debt that is net debt of CN¥10.6 billion.

What is iQIYI's book value?

iQIYI's shareholders' equity (book value) was CN¥13.3 billion at the end of fiscal 2025.

What is iQIYI's current ratio?

iQIYI had current assets of CN¥10.3 billion and current liabilities of CN¥22.1 billion, a current ratio of 0.47 (current liabilities exceed current assets).

How much goodwill does iQIYI have?

iQIYI carried CN¥24.6 billion of goodwill and intangible assets, 52.7% of total assets, at the end of fiscal 2025.