iQIYI, Inc (IQ) Key Metrics
IQ key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Chinese yuanIQ returns How much profit the business earns on the capital it uses.
IQ financial health Debt, liquidity and how easily interest is covered.
IQ efficiency & capital use Working capital cycle and where the cash goes.
IQ returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IQ debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IQ cash returned to shareholders
IQ key metrics in Chinese yuan
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −1.5% | 6.0% | 21.0% | −2.4% | −85.7% | −74.4% | −74.4% | −69.2% | — | — |
| Return on invested capital (ROIC) | 0.8% | 7.5% | 13.4% | 5.3% | −19.9% | −28.7% | −45.7% | −56.5% | — | — |
| Return on assets (ROA) | −0.4% | 1.7% | 4.2% | −0.3% | −13.7% | −15.1% | −23.0% | −28.0% | −22.1% | −25.6% |
| Return on tangible assets | −0.9% | 2.2% | 5.7% | −0.6% | −31.2% | −22.8% | −34.9% | −31.6% | −36.0% | −43.2% |
| Free cash flow margin | 0.0% | 6.6% | 10.2% | −21.5% | −20.8% | −19.5% | −30.8% | −44.6% | −35.7% | −27.8% |
| Income quality (OCF / net income) | — | 2.76 | 1.74 | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| 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 |
| 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 |
| Net 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 |
| Debt / equity | 1.14 | 1.06 | 1.27 | 3.60 | 3.39 | 2.40 | 1.78 | 0.47 | 0.07 | — |
| Debt / assets | 0.33 | 0.31 | 0.34 | 0.49 | 0.41 | 0.46 | 0.38 | 0.19 | 0.03 | 0.01 |
| Net debt / EBITDA | 0.75 | 0.63 | 0.57 | 1.02 | 1.09 | 0.70 | 0.83 | −0.34 | −0.19 | −0.77 |
| Current ratio | 0.47 | 0.44 | 0.57 | 0.49 | 0.51 | 0.90 | 1.00 | 1.00 | 0.49 | 0.43 |
| Quick ratio | 0.47 | 0.44 | 0.54 | 0.49 | 0.51 | 0.90 | 0.96 | 0.89 | 0.48 | 0.42 |
| Interest coverage | 0.3 | 1.7 | 2.6 | 1.8 | -3.3 | -5.7 | -10.1 | -87.7 | -14.2 | -25.2 |
| 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 |
| Invested capital | CN¥23.89B | CN¥23.09B | CN¥22.00B | CN¥20.87B | CN¥18.41B | CN¥17.17B | CN¥16.12B | CN¥15.88B | CN¥7.36B | −CN¥17.07B |
| Tangible asset value | −CN¥11.27B | CN¥2.33B | CN¥1.09B | −CN¥17.76B | −CN¥16.97B | −CN¥8.17B | −CN¥5.73B | CN¥2.21B | −CN¥1.54B | −CN¥21.82B |
| Net current asset value | −CN¥23.08B | −CN¥22.86B | −CN¥19.77B | −CN¥25.92B | −CN¥25.27B | −CN¥16.56B | −CN¥14.91B | −CN¥6.75B | −CN¥6.22B | −CN¥23.78B |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | CN¥64.2M | CN¥27.8M | CN¥62.4M | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Share buybacks (net) | — | — | — | — | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Capex / revenue | 0.3% | 0.6% | 0.3% | 0.9% | 1.3% | 1.3% | 44.2% | 56.2% | 58.8% | 51.0% |
| Capex / operating cash flow | 90.6% | 8.2% | 3.1% | — | — | — | 328.3% | 486.8% | 254.8% | 219.5% |
| Capex / depreciation | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.75 | 0.94 | 1.17 | 1.14 |
| Stock-based compensation / revenue | 1.5% | 1.9% | 2.0% | 2.8% | 4.0% | 4.6% | 3.7% | 2.2% | 1.3% | 0.6% |
| R&D / revenue | 6.1% | 6.1% | 5.5% | 6.5% | 9.1% | 9.0% | 9.2% | 8.0% | 7.3% | 7.3% |
| SG&A / revenue | 14.1% | 12.6% | 12.6% | 12.0% | 15.5% | 17.5% | 18.1% | 16.7% | 15.4% | 15.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 57.9 | 63.3 | 59.4 | 57.8 | 58.3 | 64.9 | 63.5 | 49.1 | 42.9 | 53.8 |
| Days of inventory on hand | — | — | 4.6 | 0.7 | 0.7 | 6.5 | 18.9 | 15.8 | 3.9 | 11.7 |
| Days payables outstanding | 111.3 | 101.0 | 92.1 | 121.8 | 109.2 | 103.2 | 110.5 | 115.7 | 117.8 | 66.9 |
| Cash conversion cycle (days) | -53.3 | -37.7 | -28.1 | -63.2 | -50.1 | -31.8 | -28.0 | -50.8 | -71.0 | -1.4 |
| Receivables turnover | 6.30 | 5.77 | 6.14 | 6.31 | 6.26 | 5.63 | 5.75 | 7.43 | 8.50 | 6.79 |
| Payables turnover | 3.28 | 3.61 | 3.96 | 3.00 | 3.34 | 3.54 | 3.30 | 3.15 | 3.10 | 5.45 |
| Inventory turnover | — | — | 79.42 | 489.08 | 534.86 | 55.76 | 19.28 | 23.07 | 92.69 | 31.08 |
| Asset turnover | 0.59 | 0.65 | 0.70 | 0.66 | 0.67 | 0.64 | 0.65 | 0.77 | 1.03 | 0.93 |
| Average receivables | CN¥4.33B | CN¥5.07B | CN¥5.19B | CN¥4.59B | CN¥4.88B | CN¥5.28B | CN¥5.05B | CN¥3.36B | CN¥2.04B | CN¥1.66B |
| Average payables | CN¥6.57B | CN¥6.08B | CN¥5.83B | CN¥7.44B | CN¥8.23B | CN¥7.89B | CN¥9.19B | CN¥8.60B | CN¥5.61B | CN¥2.10B |
| Average inventory | — | — | CN¥290.9M | CN¥45.6M | CN¥51.4M | CN¥500.1M | CN¥1.57B | CN¥1.18B | CN¥187.6M | CN¥368.0M |
| Intangibles / total assets | 52.7% | 24.1% | 24.9% | 52.3% | 53.3% | 36.3% | 34.3% | 35.6% | 48.6% | 47.8% |
Computed from IQ's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Chinese yuan; data from EODHD. Averages use the opening and closing balance of each year.
IQ valuation and financial ratios
iQIYI earned a return on equity of −1.5% and a return on invested capital of 0.8% in fiscal 2025. It ended the year with CN¥15.2 billion of debt and CN¥4.7 billion in cash and short-term investments, net debt of CN¥10.6 billion.
See the IQ income statement, the IQ chart for price history, or the IQ stock overview for the latest quote and news.
IQ key metrics FAQ
What is iQIYI's return on equity?
iQIYI's return on equity (ROE) was −1.5% in fiscal 2025: net income of -CN¥206.3 million on average shareholders' equity of CN¥13.3 billion.
What is iQIYI's ROIC?
iQIYI's return on invested capital was 0.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does iQIYI have?
iQIYI had total debt of CN¥15.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.14 and CN¥10.6 billion of net debt (0.75 times EBITDA).
What is iQIYI's current ratio?
iQIYI's current ratio was 0.47 at the end of fiscal 2025: current assets were 0.47 times current liabilities.