9F Inc. (JFU) Key Metrics
JFU key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Chinese yuanJFU returns How much profit the business earns on the capital it uses.
JFU financial health Debt, liquidity and how easily interest is covered.
JFU efficiency & capital use Working capital cycle and where the cash goes.
JFU returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
JFU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
JFU key metrics in Chinese yuan
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.5% | 1.4% | −3.9% | −15.3% | −5.7% | −43.2% | −34.6% | 34.5% | 17.1% | 14.3% |
| Return on invested capital (ROIC) | 13.1% | −1.7% | −16.4% | −10.5% | −3.1% | −66.7% | −141.5% | 250.8% | 115.6% | 36.3% |
| Return on assets (ROA) | 3.9% | 1.2% | −3.4% | −12.7% | −4.5% | −31.7% | −24.1% | 22.4% | 9.5% | 6.6% |
| Return on tangible assets | 3.7% | 1.2% | −3.5% | −14.0% | −4.7% | −42.5% | −24.8% | 19.0% | 6.5% | 6.7% |
| Free cash flow margin | 42.1% | 14.6% | 13.8% | 3.3% | −31.2% | −138.9% | −11.0% | 41.3% | 41.8% | 17.4% |
| Income quality (OCF / net income) | 1.20 | 0.93 | — | — | — | — | — | 1.36 | 7.14 | 2.91 |
| Financial health | ||||||||||
| Total debt | CN¥23.9M | — | CN¥14.7M | CN¥8.3M | CN¥17.9M | CN¥29.5M | CN¥125.4M | CN¥984.5M | CN¥1.30B | CN¥785.4M |
| Cash & short-term investments | CN¥754.5M | CN¥379.4M | CN¥2.46B | CN¥2.87B | CN¥2.70B | CN¥2.86B | CN¥4.71B | CN¥6.30B | CN¥4.48B | CN¥1.24B |
| Net debt | −CN¥730.6M | −CN¥379.4M | −CN¥2.45B | −CN¥2.86B | −CN¥2.68B | −CN¥2.83B | −CN¥4.58B | −CN¥5.32B | −CN¥3.18B | −CN¥453.1M |
| Debt / equity | 0.01 | — | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.16 | 0.35 | 0.79 |
| Debt / assets | 0.01 | — | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.11 | 0.21 | 0.36 |
| Net debt / EBITDA | −3.05 | — | — | — | — | — | — | −2.39 | −3.41 | −1.12 |
| Current ratio | 38.53 | 6.99 | 6.42 | 6.24 | 5.01 | 3.99 | 3.00 | 5.42 | 3.18 | 2.03 |
| Quick ratio | 38.49 | 6.99 | 6.42 | 5.52 | 3.78 | 2.97 | 2.50 | 5.09 | 2.90 | 1.77 |
| Interest coverage | — | — | — | -0.2 | -0.2 | -1.3 | -25.9 | — | — | — |
| Working capital | CN¥897.5M | CN¥2.72B | CN¥2.42B | CN¥3.06B | CN¥3.34B | CN¥3.37B | CN¥4.81B | CN¥6.46B | CN¥3.80B | CN¥962.1M |
| Invested capital | CN¥2.98B | CN¥3.22B | CN¥1.07B | CN¥798.1M | CN¥1.46B | CN¥1.34B | CN¥1.70B | CN¥936.8M | CN¥525.9M | CN¥545.5M |
| Tangible asset value | CN¥3.77B | CN¥3.65B | CN¥3.54B | CN¥3.65B | CN¥4.13B | CN¥4.16B | CN¥6.18B | CN¥6.20B | CN¥3.65B | CN¥970.1M |
| Net current asset value | CN¥324.3M | CN¥2.71B | CN¥2.40B | CN¥3.04B | CN¥3.32B | CN¥3.33B | CN¥4.67B | CN¥5.07B | CN¥2.97B | CN¥743.8M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | CN¥0 | CN¥0 | CN¥0 |
| Share buybacks (net) | — | — | — | — | — | — | — | CN¥0 | CN¥0 | CN¥0 |
| Dividend payout ratio | — | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% |
| Capex / revenue | 0.6% | 0.4% | 1.4% | 8.0% | 1.0% | 0.6% | 1.3% | 0.9% | 0.7% | 0.9% |
| Capex / operating cash flow | 1.3% | 2.5% | 9.2% | 70.8% | — | — | — | 2.1% | 1.7% | 4.9% |
| Capex / depreciation | 0.12 | 0.05 | 0.33 | 2.13 | 0.25 | 0.32 | 1.51 | 2.59 | 4.01 | 2.15 |
| Stock-based compensation / revenue | −0.2% | −0.3% | −17.5% | 1.0% | 6.9% | 23.1% | 8.0% | 9.1% | 32.3% | 4.9% |
| SG&A / revenue | 48.5% | 76.5% | 72.3% | 77.8% | 90.4% | 130.9% | 79.1% | 52.3% | 78.9% | 75.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 99.3 | 71.3 | 173.7 | 262.2 | 151.1 | 87.3 | 62.0 | 53.1 | 24.7 | 60.5 |
| Days of inventory on hand | 2.9 | 3.7 | 667.3 | 2,291.3 | 3,740.3 | 787.0 | 271.6 | 400.3 | 267.2 | 533.0 |
| Days payables outstanding | 164.5 | 169.4 | 311.6 | 675.8 | 1,167.9 | 177.6 | 27.7 | 27.7 | 18.9 | 69.7 |
| Cash conversion cycle (days) | -62.4 | -94.4 | 529.4 | 1,877.7 | 2,723.5 | 696.7 | 305.8 | 425.8 | 272.9 | 523.8 |
| Receivables turnover | 3.68 | 5.12 | 2.10 | 1.39 | 2.42 | 4.18 | 5.89 | 6.87 | 14.77 | 6.03 |
| Payables turnover | 2.22 | 2.15 | 1.17 | 0.54 | 0.31 | 2.06 | 13.15 | 13.18 | 19.28 | 5.24 |
| Inventory turnover | 127.08 | 97.95 | 0.55 | 0.16 | 0.10 | 0.46 | 1.34 | 0.91 | 1.37 | 0.68 |
| Asset turnover | 0.11 | 0.08 | 0.10 | 0.12 | 0.15 | 0.18 | 0.49 | 0.72 | 1.60 | 1.05 |
| Average receivables | CN¥125.0M | CN¥60.6M | CN¥196.3M | CN¥403.5M | CN¥315.2M | CN¥300.6M | CN¥751.3M | CN¥808.7M | CN¥456.4M | CN¥374.7M |
| Average payables | CN¥57.2M | CN¥50.1M | CN¥98.3M | CN¥213.7M | CN¥339.7M | CN¥265.6M | CN¥86.5M | CN¥33.8M | CN¥26.0M | CN¥32.1M |
| Average inventory | CN¥998,000 | CN¥1.1M | CN¥210.6M | CN¥724.7M | CN¥1.09B | CN¥1.18B | CN¥846.4M | CN¥487.9M | CN¥367.5M | CN¥245.3M |
| Intangibles / total assets | 0.1% | 0.1% | 0.7% | 1.4% | 1.2% | 1.2% | 1.6% | 0.6% | 0.9% | 1.3% |
Computed from JFU's annual financial statements (latest annual report filed April 30, 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.
JFU valuation and financial ratios
9F earned a return on equity of 4.5% and a return on invested capital of 13.1% in fiscal 2025. It ended the year with CN¥23.9 million of debt and CN¥754.5 million in cash and short-term investments, a net cash position of CN¥730.6 million.
See the JFU income statement, the JFU chart for price history, or the JFU stock overview for the latest quote and news.
JFU key metrics FAQ
What is 9F's return on equity?
9F's return on equity (ROE) was 4.5% in fiscal 2025: net income of CN¥163.6 million on average shareholders' equity of CN¥3.7 billion.
What is 9F's ROIC?
9F's return on invested capital was 13.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does 9F have?
9F had total debt of CN¥23.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
What is 9F's current ratio?
9F's current ratio was 38.53 at the end of fiscal 2025: current assets were 38.53 times current liabilities.