360 DigiTech, Inc. (QFIN) Key Metrics
QFIN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Chinese yuanQFIN returns How much profit the business earns on the capital it uses.
QFIN financial health Debt, liquidity and how easily interest is covered.
QFIN efficiency & capital use Working capital cycle and where the cash goes.
QFIN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
QFIN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
QFIN cash returned to shareholders
QFIN key metrics in Chinese yuan
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 24.8% | 27.2% | 21.0% | 23.6% | 46.8% | 41.9% | 42.9% | 46.1% | 46.3% | — |
| Return on invested capital (ROIC) | 31.3% | 32.8% | 25.9% | 35.4% | 75.3% | 61.2% | 60.0% | 59.3% | 31.0% | −110.7% |
| Return on assets (ROA) | 11.4% | 13.3% | 9.9% | 10.9% | 20.0% | 15.6% | 18.1% | 22.8% | 10.3% | −55.5% |
| Return on tangible assets | 10.7% | 13.3% | 9.6% | 10.2% | 17.8% | 14.3% | 12.3% | 16.2% | 5.3% | −55.7% |
| Free cash flow margin | 67.4% | 53.5% | 43.2% | 35.6% | 34.7% | 39.2% | 41.1% | 7.4% | −18.0% | — |
| Income quality (OCF / net income) | 1.85 | 1.49 | 1.66 | 1.47 | 1.00 | 1.52 | 1.19 | 0.24 | −0.67 | — |
| Financial health | ||||||||||
| Total debt | CN¥3.82B | CN¥1.40B | CN¥827.7M | CN¥180.7M | CN¥423.4M | CN¥215.3M | CN¥221.0M | CN¥14.0M | CN¥748.7M | CN¥77.0M |
| Cash & short-term investments | CN¥7.55B | CN¥7.85B | CN¥4.19B | CN¥7.22B | CN¥6.12B | CN¥4.42B | CN¥2.11B | CN¥1.45B | CN¥468.5M | CN¥6.2M |
| Net debt | −CN¥3.73B | −CN¥6.45B | −CN¥3.37B | −CN¥7.04B | −CN¥5.69B | −CN¥4.20B | −CN¥1.89B | −CN¥1.43B | CN¥280.2M | CN¥70.9M |
| Debt / equity | 0.16 | 0.06 | 0.04 | 0.01 | 0.03 | 0.02 | 0.03 | 0.00 | 1.02 | — |
| Debt / assets | 0.07 | 0.03 | 0.02 | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.24 | 0.86 |
| Net debt / EBITDA | −0.50 | −0.80 | −0.42 | −0.79 | −0.57 | −0.49 | −0.63 | −0.86 | 1.31 | — |
| Current ratio | 0.47 | 0.69 | 0.67 | 1.04 | 1.30 | 22.56 | 15.07 | 17.71 | 30.49 | 9.70 |
| Quick ratio | 0.47 | 0.62 | 0.98 | 2.93 | 3.14 | 49.41 | 43.41 | 30.12 | 30.49 | 18.63 |
| Interest coverage | — | — | — | 58.0 | 676.9 | 90.9 | 71.1 | 23.2 | 14.8 | — |
| Working capital | −CN¥13.32B | −CN¥5.58B | −CN¥5.22B | CN¥483.0M | CN¥2.96B | CN¥12.10B | CN¥7.48B | CN¥5.52B | CN¥1.26B | CN¥70.9M |
| Invested capital | CN¥20.39B | CN¥17.74B | CN¥18.57B | CN¥11.81B | CN¥9.51B | CN¥5.28B | CN¥5.33B | CN¥3.01B | CN¥1.01B | CN¥49.0M |
| Tangible asset value | CN¥23.13B | CN¥23.24B | CN¥20.98B | CN¥17.93B | CN¥14.19B | CN¥9.48B | CN¥7.21B | CN¥4.44B | CN¥733.9M | −CN¥22.0M |
| Net current asset value | −CN¥21.10B | −CN¥11.28B | −CN¥12.97B | −CN¥7.32B | −CN¥5.33B | −CN¥2.24B | −CN¥5.13B | CN¥2.94B | −CN¥1.06B | −CN¥32.3M |
| Capital allocation | ||||||||||
| Dividends paid | CN¥1.38B | CN¥1.26B | CN¥941.7M | CN¥277.0M | CN¥0 | CN¥0 | CN¥3.10B | CN¥3.10B | CN¥0 | CN¥0 |
| Share buybacks (net) | CN¥4.85B | CN¥2.97B | CN¥636.2M | CN¥0 | CN¥0 | — | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Dividend payout ratio | 23.0% | 20.2% | 22.0% | 6.9% | 0.0% | 0.0% | 123.8% | 259.6% | 0.0% | — |
| Dividends + buybacks / free cash flow | 57.4% | 46.1% | 22.4% | 4.7% | 0.0% | 0.0% | 105.1% | — | — | — |
| Capex / revenue | 1.5% | 0.9% | 0.5% | 0.2% | 0.2% | 0.1% | 0.4% | 0.2% | 1.1% | 144.2% |
| Capex / operating cash flow | 2.2% | 1.6% | 1.2% | 0.4% | 0.4% | 0.3% | 0.9% | 3.0% | — | — |
| Capex / depreciation | 3.53 | 2.04 | 1.15 | 0.38 | 0.38 | 0.42 | 3.34 | 2.27 | 5.44 | 11.90 |
| Stock-based compensation / revenue | 2.4% | 1.0% | 1.1% | 1.5% | 1.5% | 2.2% | 3.5% | 16.3% | — | — |
| SG&A / revenue | 19.5% | 12.7% | 14.5% | 15.8% | 15.9% | 11.3% | 45.7% | 15.1% | 7.0% | 1,026.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 36.5 | 56.3 | 69.3 | 71.1 | 116.8 | 165.4 | 218.3 | 217.9 | 251.9 | 6,252.7 |
| Days of inventory on hand | — | -99.3 | -957.3 | -1,662.0 | -1,610.0 | -1,714.4 | -3,781.1 | -2,951.6 | -206.7 | -840.4 |
| Days payables outstanding | — | — | — | — | — | 5.1 | 11.3 | 21.5 | 41.5 | 0.0 |
| Cash conversion cycle (days) | — | — | — | — | — | -1,554.1 | -3,574.1 | -2,755.2 | 3.7 | 5,412.3 |
| Receivables turnover | 10.01 | 6.48 | 5.27 | 5.13 | 3.12 | 2.21 | 1.67 | 1.67 | 1.45 | 0.06 |
| Payables turnover | — | — | — | — | — | 71.85 | 32.33 | 16.94 | 8.79 | — |
| Asset turnover | 0.31 | 0.37 | 0.38 | 0.45 | 0.57 | 0.61 | 0.52 | 0.71 | 0.41 | 0.04 |
| Average receivables | CN¥1.61B | CN¥2.65B | CN¥3.09B | CN¥3.23B | CN¥5.32B | CN¥6.15B | CN¥4.29B | CN¥2.22B | CN¥451.5M | CN¥68.2M |
| Average payables | — | — | — | — | — | CN¥44.6M | CN¥28.6M | CN¥15.0M | CN¥7.3M | CN¥0 |
| Average inventory | — | −CN¥1.79B | −CN¥15.32B | −CN¥22.11B | −CN¥16.76B | −CN¥15.06B | −CN¥9.58B | −CN¥2.05B | −CN¥36.4M | −CN¥72.8M |
| Intangibles / total assets | 1.8% | 2.1% | 2.3% | 2.5% | 3.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% |
Computed from QFIN's annual financial statements (latest annual report filed April 27, 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.
QFIN valuation and financial ratios
360 DigiTech earned a return on equity of 24.8% and a return on invested capital of 31.3% in fiscal 2025. It ended the year with CN¥3.8 billion of debt and CN¥7.5 billion in cash and short-term investments, a net cash position of CN¥3.7 billion. It returned CN¥6.2 billion to shareholders: CN¥1.4 billion in dividends and CN¥4.8 billion in share buybacks, 57% of free cash flow.
See the QFIN income statement, the QFIN chart for price history, or the QFIN stock overview for the latest quote and news.
QFIN key metrics FAQ
What is 360 DigiTech's return on equity?
360 DigiTech's return on equity (ROE) was 24.8% in fiscal 2025: net income of CN¥6.0 billion on average shareholders' equity of CN¥24.2 billion.
What is 360 DigiTech's ROIC?
360 DigiTech's return on invested capital was 31.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does 360 DigiTech have?
360 DigiTech had total debt of CN¥3.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.16 and more cash than debt.
Does 360 DigiTech buy back its shares?
Yes. 360 DigiTech spent CN¥4.8 billion on net share repurchases in fiscal 2025.
What is 360 DigiTech's current ratio?
360 DigiTech's current ratio was 0.47 at the end of fiscal 2025: current assets were 0.47 times current liabilities.