MOGU Inc. (MOGU) Key Metrics
MOGU key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · Chinese yuanMOGU returns How much profit the business earns on the capital it uses.
MOGU financial health Debt, liquidity and how easily interest is covered.
MOGU efficiency & capital use Working capital cycle and where the cash goes.
MOGU returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MOGU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MOGU cash returned to shareholders
MOGU key metrics in Chinese yuan
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 0.4% | −11.4% | −9.6% | −24.9% | −57.0% | −19.1% | −73.8% | −14.0% | −17.5% | −26.9% |
| Return on invested capital (ROIC) | −22.5% | −53.0% | −49.4% | −120.2% | −129.7% | −44.0% | −94.9% | −22.1% | −39.8% | −46.3% |
| Return on assets (ROA) | 0.2% | −7.0% | −6.1% | −16.3% | −42.6% | −15.3% | −63.1% | −11.9% | −13.5% | −20.0% |
| Return on tangible assets | 0.2% | −7.3% | −6.3% | −17.8% | −63.1% | −26.7% | −154.3% | −23.9% | −29.5% | −35.9% |
| Free cash flow margin | −42.4% | −55.2% | −84.0% | −28.3% | −50.2% | −47.8% | −38.6% | −31.1% | −32.9% | −77.1% |
| Income quality (OCF / net income) | −26.58 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | CN¥768,000 | CN¥972,000 | CN¥2.7M | CN¥3.4M | CN¥10.1M | — | — | CN¥5.8M | CN¥8.5M | CN¥4.5M |
| Cash & short-term investments | CN¥295.1M | CN¥379.6M | CN¥420.1M | CN¥562.0M | CN¥635.5M | CN¥802.3M | CN¥1.09B | CN¥1.49B | CN¥1.35B | CN¥1.67B |
| Net debt | −CN¥294.4M | −CN¥378.6M | −CN¥417.4M | −CN¥558.6M | −CN¥625.4M | −CN¥802.3M | −CN¥1.09B | −CN¥1.48B | −CN¥1.35B | −CN¥1.67B |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | — | — | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | — | — | 0.00 | 0.00 | 0.00 |
| Current ratio | 1.07 | 1.51 | 1.58 | 1.98 | 2.23 | 2.70 | 3.01 | 3.24 | 2.47 | 2.31 |
| Quick ratio | 1.07 | 1.51 | 1.58 | 1.98 | 2.23 | 2.70 | 3.01 | 3.23 | 2.47 | 2.30 |
| Interest coverage | — | — | -414.5 | -313.5 | -48.2 | -2.2 | -0.7 | — | — | — |
| Working capital | CN¥23.6M | CN¥164.7M | CN¥186.0M | CN¥329.9M | CN¥397.1M | CN¥621.8M | CN¥875.5M | CN¥1.23B | CN¥985.7M | CN¥1.40B |
| Invested capital | CN¥213.8M | CN¥130.3M | CN¥171.0M | CN¥82.1M | CN¥164.3M | CN¥652.6M | CN¥885.9M | CN¥2.56B | CN¥1.54B | CN¥1.83B |
| Tangible asset value | CN¥507.6M | CN¥536.3M | CN¥613.5M | CN¥658.8M | CN¥678.9M | CN¥842.4M | CN¥981.0M | CN¥1.48B | CN¥1.20B | CN¥1.43B |
| Net current asset value | CN¥23.3M | CN¥164.3M | CN¥183.9M | CN¥325.8M | CN¥384.1M | CN¥602.1M | CN¥850.3M | CN¥1.22B | CN¥960.5M | CN¥1.29B |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | CN¥0 | CN¥0 | CN¥0 |
| Share buybacks (net) | CN¥0 | CN¥822,000 | CN¥0 | CN¥1.3M | CN¥9.7M | CN¥119.9M | CN¥6.6M | CN¥0 | CN¥0 | CN¥0 |
| Capex / revenue | 3.4% | 7.1% | 58.7% | 23.9% | 16.3% | 31.6% | 1.2% | 0.8% | 0.5% | 2.1% |
| Capex / depreciation | 0.36 | 0.75 | 6.69 | 0.75 | 0.17 | 0.43 | 0.03 | 0.04 | 0.01 | 0.04 |
| Stock-based compensation / revenue | 0.0% | 0.6% | 2.9% | 5.8% | 3.7% | 5.5% | 3.9% | 9.6% | 1.7% | 1.9% |
| R&D / revenue | 22.9% | 21.2% | 16.7% | 16.0% | 24.4% | 21.5% | 20.5% | 22.0% | 29.7% | 37.7% |
| SG&A / revenue | 71.5% | 81.2% | 76.4% | 56.5% | 67.3% | 69.0% | 88.7% | 84.9% | 87.1% | 73.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 129.7 | 81.9 | 29.1 | 27.7 | 36.7 | 35.7 | 38.4 | 63.6 | 186.1 | 243.5 |
| Days of inventory on hand | 0.1 | 0.2 | 0.5 | 0.4 | 0.4 | 3.2 | 5.0 | 3.0 | 2.4 | 4.0 |
| Days payables outstanding | 16.9 | 24.5 | 30.1 | 41.9 | 43.3 | 36.9 | 21.8 | 17.6 | 13.4 | 10.7 |
| Cash conversion cycle (days) | 112.9 | 57.6 | -0.5 | -13.8 | -6.2 | 2.0 | 21.6 | 49.0 | 175.0 | 236.8 |
| Receivables turnover | 2.81 | 4.46 | 12.53 | 13.16 | 9.94 | 10.22 | 9.50 | 5.74 | 1.96 | 1.50 |
| Payables turnover | 21.61 | 14.92 | 12.13 | 8.72 | 8.42 | 9.89 | 16.75 | 20.74 | 27.19 | 34.02 |
| Inventory turnover | 3,051.47 | 1,555.27 | 753.64 | 1,021.38 | 1,000.63 | 115.67 | 73.73 | 121.81 | 151.01 | 92.18 |
| Asset turnover | 0.14 | 0.16 | 0.16 | 0.21 | 0.22 | 0.23 | 0.24 | 0.26 | 0.24 | 0.24 |
| Average receivables | CN¥43.2M | CN¥31.7M | CN¥12.8M | CN¥17.6M | CN¥34.0M | CN¥47.2M | CN¥88.0M | CN¥187.1M | CN¥496.1M | CN¥740.6M |
| Average payables | CN¥4.0M | CN¥5.7M | CN¥7.5M | CN¥13.1M | CN¥18.9M | CN¥18.5M | CN¥17.5M | CN¥15.1M | CN¥11.7M | CN¥11.1M |
| Average inventory | CN¥28,500 | CN¥54,500 | CN¥121,000 | CN¥111,500 | CN¥159,500 | CN¥1.6M | CN¥4.0M | CN¥2.6M | CN¥2.1M | CN¥4.1M |
| Intangibles / total assets | 0.1% | 0.1% | 0.1% | 1.2% | 13.1% | 33.3% | 41.0% | 55.8% | 47.1% | 44.2% |
Computed from MOGU's annual financial statements (latest annual report filed July 24, 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.
MOGU valuation and financial ratios
MOGU earned a return on equity of 0.4% and a return on invested capital of −22.5% in fiscal 2026. It ended the year with CN¥0.8 million of debt and CN¥295.1 million in cash and short-term investments, a net cash position of CN¥294.4 million.
See the MOGU income statement, the MOGU chart for price history, or the MOGU stock overview for the latest quote and news.
MOGU key metrics FAQ
What is MOGU's return on equity?
MOGU's return on equity (ROE) was 0.4% in fiscal 2026: net income of CN¥1.8 million on average shareholders' equity of CN¥508.5 million.
What is MOGU's ROIC?
MOGU's return on invested capital was −22.5% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does MOGU have?
MOGU had total debt of CN¥0.8 million at the end of fiscal 2026, a debt-to-equity ratio of 0.00 and more cash than debt.
What is MOGU's current ratio?
MOGU's current ratio was 1.07 at the end of fiscal 2026: current assets were 1.07 times current liabilities.