ATRenew Inc. (RERE) Key Metrics
RERE key metrics, 2018–2025
Fiscal year ended December 31, 2025 · Chinese yuanRERE returns How much profit the business earns on the capital it uses.
RERE financial health Debt, liquidity and how easily interest is covered.
RERE efficiency & capital use Working capital cycle and where the cash goes.
RERE returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
RERE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
RERE cash returned to shareholders
RERE key metrics in Chinese yuan
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||
| Return on equity (ROE) | 8.5% | −0.2% | −4.1% | −47.9% | −133.8% | — | — | — |
| Return on invested capital (ROIC) | 17.2% | 1.5% | −8.4% | −66.3% | — | — | — | — |
| Return on assets (ROA) | 5.9% | −0.2% | −3.0% | −39.3% | −12.8% | −9.4% | −23.4% | −16.9% |
| Return on tangible assets | 5.5% | −0.2% | −3.0% | −54.8% | −17.7% | −22.9% | −54.3% | −17.2% |
| Free cash flow margin | −2.7% | 3.6% | 1.2% | 8.3% | −14.0% | −9.3% | −13.1% | −12.9% |
| Income quality (OCF / net income) | −1.23 | — | — | — | — | — | — | — |
| Financial health | ||||||||
| Total debt | CN¥393.1M | CN¥354.9M | CN¥405.9M | CN¥203.9M | CN¥165.4M | CN¥595.7M | CN¥361.6M | CN¥333.7M |
| Cash & short-term investments | CN¥1.81B | CN¥2.61B | CN¥2.43B | CN¥2.52B | CN¥1.89B | CN¥1.03B | CN¥553.2M | CN¥673.1M |
| Net debt | −CN¥1.41B | −CN¥2.26B | −CN¥2.02B | −CN¥2.32B | −CN¥1.73B | −CN¥437.8M | −CN¥191.6M | −CN¥339.5M |
| Debt / equity | 0.10 | 0.10 | 0.11 | 0.05 | 0.03 | — | — | — |
| Debt / assets | 0.07 | 0.07 | 0.07 | 0.04 | 0.02 | 0.11 | 0.08 | 0.27 |
| Net debt / EBITDA | −2.72 | −8.02 | −10.52 | — | — | — | — | — |
| Current ratio | 2.49 | 3.19 | 2.68 | 3.81 | 5.03 | 1.58 | 1.45 | 1.79 |
| Quick ratio | 1.93 | 2.78 | 2.07 | 3.38 | 4.45 | 1.43 | 1.36 | 1.67 |
| Interest coverage | 68.6 | 1.9 | -24.6 | -425.7 | -53.3 | -21.8 | -59.0 | -39.2 |
| Working capital | CN¥2.84B | CN¥2.86B | CN¥2.84B | CN¥2.87B | CN¥3.33B | CN¥691.1M | CN¥339.8M | CN¥468.8M |
| Invested capital | CN¥2.58B | CN¥1.44B | CN¥1.69B | CN¥1.56B | CN¥4.69B | −CN¥5.64B | −CN¥3.63B | −CN¥2.20B |
| Tangible asset value | CN¥3.98B | CN¥3.64B | CN¥3.44B | CN¥3.34B | CN¥3.54B | −CN¥8.38B | −CN¥6.93B | −CN¥1.87B |
| Net current asset value | CN¥2.77B | CN¥2.77B | CN¥2.75B | CN¥2.72B | CN¥3.07B | −CN¥8.56B | −CN¥7.13B | −CN¥2.03B |
| Capital allocation | ||||||||
| Dividends paid | CN¥0 | CN¥0 | CN¥0 | — | — | — | — | — |
| Share buybacks (net) | CN¥89.8M | CN¥184.3M | CN¥160.1M | CN¥217.9M | CN¥0 | CN¥1.8M | CN¥1.9M | CN¥22.1M |
| Dividend payout ratio | 0.0% | — | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | — | 31.6% | 100.9% | 26.6% | — | — | — | — |
| Capex / revenue | 0.7% | 0.4% | 0.7% | 0.6% | 1.0% | 0.8% | 2.6% | 2.0% |
| Capex / operating cash flow | — | 9.3% | 34.9% | 7.0% | — | — | — | — |
| Capex / depreciation | 1.21 | 0.22 | 0.26 | 0.15 | 0.20 | 0.10 | 0.44 | 1.69 |
| Stock-based compensation / revenue | 0.3% | 1.0% | 1.0% | 1.8% | 5.8% | 0.0% | 0.0% | — |
| R&D / revenue | 1.2% | 1.3% | 1.5% | 2.3% | 3.4% | 3.1% | 3.6% | 2.0% |
| SG&A / revenue | 1.3% | 10.3% | 11.7% | 17.9% | 21.1% | 18.9% | 34.7% | 13.3% |
| Efficiency | ||||||||
| Days sales outstanding | 7.5 | 0.9 | 2.7 | 3.0 | 0.7 | 0.5 | 0.4 | 0.7 |
| Days of inventory on hand | 16.4 | 21.6 | 25.6 | 21.9 | 20.9 | 12.3 | 8.1 | 9.8 |
| Days payables outstanding | 5.2 | 9.8 | 10.7 | 2.8 | 2.2 | 3.2 | 4.5 | 5.6 |
| Cash conversion cycle (days) | 18.7 | 12.8 | 17.6 | 22.2 | 19.4 | 9.6 | 3.9 | 4.9 |
| Receivables turnover | 48.76 | 388.52 | 137.19 | 119.95 | 543.52 | 707.47 | 1,033.07 | 524.87 |
| Payables turnover | 70.82 | 37.20 | 34.14 | 132.52 | 167.43 | 114.72 | 80.99 | 65.61 |
| Inventory turnover | 22.31 | 16.86 | 14.25 | 16.66 | 17.49 | 29.77 | 45.13 | 37.24 |
| Asset turnover | 3.70 | 3.09 | 2.46 | 1.57 | 1.22 | 0.97 | 1.31 | 2.65 |
| Average receivables | CN¥419.9M | CN¥42.0M | CN¥94.5M | CN¥82.3M | CN¥14.3M | CN¥6.9M | CN¥3.8M | CN¥6.2M |
| Average payables | CN¥253.6M | CN¥351.8M | CN¥302.8M | CN¥57.3M | CN¥34.3M | CN¥31.5M | CN¥39.2M | CN¥42.7M |
| Average inventory | CN¥804.9M | CN¥776.1M | CN¥725.3M | CN¥456.1M | CN¥327.9M | CN¥121.3M | CN¥70.4M | CN¥75.2M |
| Intangibles / total assets | 0.2% | 1.1% | 4.9% | 10.8% | 38.4% | 60.7% | 72.9% | 1.5% |
Computed from RERE's annual financial statements (latest annual report filed April 8, 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.
RERE valuation and financial ratios
ATRenew earned a return on equity of 8.5% and a return on invested capital of 17.2% in fiscal 2025. It ended the year with CN¥393.1 million of debt and CN¥1.8 billion in cash and short-term investments, a net cash position of CN¥1.4 billion. It returned CN¥89.8 million to shareholders: CN¥0 in dividends and CN¥89.8 million in share buybacks.
See the RERE income statement, the RERE chart for price history, or the RERE stock overview for the latest quote and news.
RERE key metrics FAQ
What is ATRenew's return on equity?
ATRenew's return on equity (ROE) was 8.5% in fiscal 2025: net income of CN¥327.1 million on average shareholders' equity of CN¥3.8 billion.
What is ATRenew's ROIC?
ATRenew's return on invested capital was 17.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does ATRenew have?
ATRenew had total debt of CN¥393.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.10 and more cash than debt.
Does ATRenew pay a dividend?
ATRenew did not pay a dividend in fiscal 2025.
Does ATRenew buy back its shares?
Yes. ATRenew spent CN¥89.8 million on net share repurchases in fiscal 2025.
What is ATRenew's current ratio?
ATRenew's current ratio was 2.49 at the end of fiscal 2025: current assets were 2.49 times current liabilities.