iQIYI, Inc. (IQ) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IQ SEC filings page.
iQIYI, Inc. (IQ) reported $3.9B in revenue for fiscal year 2025, down 2.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
iQIYI’s turnaround has faded: lower revenue and margins in FY2025 left cash generation near zero while leverage stayed elevated.
FY2023’s net income of$271M translated into free cash flow of$467M , indicating earnings were backed by cash rather than accruals. In FY2025, free cash flow fell to$1.4M while operating cash flow was only$15.1M , so the business ended near cash breakeven despite reporting a small net loss.
FY2025 revenue slipped to
Debt-to-equity eased to 2.5x in FY2025 from 7.0x in FY2021, but that improvement reflects equity rebuilding alongside a still-large liability base. A current ratio of 0.5x means current liabilities exceed current assets, so day-to-day funding is not fully covered by readily realizable assets.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of iQIYI, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
iQIYI, Inc. has an operating margin of 0.8%, meaning the company retains $1 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is down from 6.2% the prior year.
iQIYI, Inc.'s revenue declined 2.5% year-over-year, from $4.0B to $3.9B. This contraction results in a growth score of 13/100.
iQIYI, Inc. has elevated debt relative to equity (D/E of 2.51), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 26/100, reflecting increased financial risk.
iQIYI, Inc.'s current ratio of 0.47 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While iQIYI, Inc. generated $15.1M in operating cash flow, capex of $13.7M consumed most of it, leaving $1.4M in free cash flow. This results in a low score of 41/100, reflecting heavy capital investment rather than weak cash generation.
iQIYI, Inc. posts a -1.6% return on equity (ROE), meaning it loses $2 for every $100 of shareholders' equity. This results in a returns score of 36/100. This is down from 5.7% the prior year.
iQIYI, Inc. scores -0.90, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($974.7M) relative to total liabilities ($4.8B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
iQIYI, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
iQIYI, Inc. reported a net loss of $29.5M while generating $15.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
iQIYI, Inc. earns $0.33 in operating income for every $1 of interest expense ($32.8M vs $99.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
iQIYI, Inc. held $622.7M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
IQ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
IQ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2410-K | Q3'2410-Q | Q4'2310-K | Q4'2210-K | Q3'2210-Q | Q4'2110-K | Q4'2010-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.7B+6.5% | $6.3B-0.2% | $6.4B | $6.3B-5.9% | $6.7B+0.2% | $6.0B | $6.7B-9.7% | $7.4B+14.8% |
| Current Assets | $1.5B+12.7% | $1.3B-26.7% | $1.4B | $1.8B-11.0% | $2.0B+10.5% | $1.5B | $1.8B-47.1% | $3.4B+17.3% |
| Cash & Equivalents | $622.7M+28.8% | $483.6M-22.6% | $461.9M | $624.6M-39.3% | $1.0B+118.8% | $500.4M | $470.3M-71.9% | $1.7B+96.2% |
| Short-Term Investments | $45.0M-65.1% | $129.0M-2.7% | $133.4M | $132.6M+11.8% | $118.6M-43.9% | $206.7M | $211.6M-58.9% | $514.7M-21.8% |
| Accounts Receivable | $360.7M+20.2% | $300.2M-1.7% | $315.8M | $305.5M-12.3% | $348.4M-19.2% | $377.2M | $431.2M-15.9% | $512.6M-1.6% |
| Long-Term Investments | $86.2M-20.3% | $108.1M+64.7% | $101.2M | $65.6M-81.5% | $355.7M-25.3% | $394.1M | $476.3M-3.0% | $490.9M+14.6% |
| Goodwill | $546.4M+4.4% | $523.5M0.0% | $544.5M | $523.5M-2.9% | $538.9M-11.7% | $546.6M | $610.2M+2.4% | $595.9M+6.7% |
| Total Liabilities | $4.8B+7.6% | $4.4B-2.8% | $4.5B | $4.6B-20.7% | $5.8B-0.3% | $5.3B | $5.8B-2.7% | $5.9B+17.8% |
| Current Liabilities | $3.2B+7.2% | $2.9B-6.5% | $3.1B | $3.1B-22.8% | $4.1B+15.6% | $4.1B | $3.5B-7.4% | $3.8B+31.5% |
| Non-Current Liabilities | $1.6B+8.2% | $1.5B+5.4% | $1.4B | $1.4B-15.5% | $1.7B-25.3% | $1.2B | $2.2B+5.6% | $2.1B-0.6% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $76.1M | N/A | N/A |
| Total Equity | $1.9B+3.9% | $1.8B+6.8% | $1.9B | $1.7B+86.6% | $919.7M+11.1% | $766.3M | $827.9M-42.1% | $1.4B+3.6% |
| Retained Earnings | -$6.3B-4.9% | -$6.0B+4.4% | -$6.2B | -$6.3B+6.9% | -$6.7B+8.9% | -$6.6B | -$7.4B-17.9% | -$6.3B-29.2% |
Not reported in any period shown, so not listed: Inventory.
IQ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2410-K | Q3'2410-Q | Q4'2310-K | Q4'2210-K | Q3'2210-Q | Q4'2110-K | Q4'2010-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | $62.4M | N/A | N/A | $119.7M+102.1% | N/A | -$5.8B-2160.9% | -$256.1M |
| Depreciation & Amortization | N/A | $4.6M | N/A | N/A | $12.6M | N/A | N/A | $20.2M |
| Capital Expenditures | N/A | $2.5M | N/A | N/A | $2.0M | N/A | N/A | $5.3M |
| Free Cash Flow | N/A | $59.8M | N/A | N/A | $117.7M | N/A | N/A | -$261.5M |
| Investing Cash Flow | N/A | -$114.2M | N/A | N/A | $82.6M | N/A | N/A | $42.4M |
| Financing Cash Flow | N/A | $23.8M | N/A | N/A | $422.0M | N/A | N/A | $1.3B |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
IQ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Note: The current ratio is below 1.0 (0.47), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| iQIYI, Inc. IQ | FY2025 | $3.9B | -$29.5M | -0.8% | $974.7M | 26/100 |
| Atlanta Braves Holdings, Inc. Series A BATRA | FY2025 | $732.5M | -$23.4M | -3.2% | $3.7B | 26/100 |
| Atlanta Braves Holdings, Inc. Series C BATRK | FY2025 | $732.5M | -$23.4M | -3.2% | $3.3B | 26/100 |
| Sphere Entertainment Co. SPHR | FY2025 | $1.2B | $33.4M | 2.7% | $4.0B | 34/100 |
| Cinemark Holdings, Inc. CNK | FY2025 | $3.1B | $138.2M | 4.4% | $4.2B | 11/100 |
Where iQIYI, Inc. Ranks
Frequently Asked Questions
What is iQIYI, Inc.'s annual revenue?
iQIYI, Inc. (IQ) reported $3.9B in total revenue for fiscal year 2025. This represents a -2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is iQIYI, Inc.'s revenue growing?
iQIYI, Inc. (IQ) revenue declined by 2.5% year-over-year, from $4.0B to $3.9B in fiscal year 2025.
Is iQIYI, Inc. profitable?
No, iQIYI, Inc. (IQ) reported a net income of -$29.5M in fiscal year 2025, with a net profit margin of -0.8%.
What is iQIYI, Inc.'s EBITDA?
iQIYI, Inc. (IQ) had EBITDA of $52.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is iQIYI, Inc.'s gross margin?
iQIYI, Inc. (IQ) had a gross margin of 21.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is iQIYI, Inc.'s operating margin?
iQIYI, Inc. (IQ) had an operating margin of 0.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is iQIYI, Inc.'s net profit margin?
iQIYI, Inc. (IQ) had a net profit margin of -0.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is iQIYI, Inc.'s return on equity (ROE)?
iQIYI, Inc. (IQ) has a return on equity of -1.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is iQIYI, Inc.'s free cash flow?
iQIYI, Inc. (IQ) generated $1.4M in free cash flow during fiscal year 2025. This represents a -99.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is iQIYI, Inc.'s operating cash flow?
iQIYI, Inc. (IQ) generated $15.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are iQIYI, Inc.'s total assets?
iQIYI, Inc. (IQ) had $6.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are iQIYI, Inc.'s capital expenditures?
iQIYI, Inc. (IQ) invested $13.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does iQIYI, Inc. spend on research and development?
iQIYI, Inc. (IQ) invested $237.8M in research and development during fiscal year 2025.
What is iQIYI, Inc.'s current ratio?
iQIYI, Inc. (IQ) had a current ratio of 0.47 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is iQIYI, Inc.'s debt-to-equity ratio?
iQIYI, Inc. (IQ) had a debt-to-equity ratio of 2.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is iQIYI, Inc.'s return on assets (ROA)?
iQIYI, Inc. (IQ) had a return on assets of -0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is iQIYI, Inc.'s P/E ratio?
iQIYI, Inc. (IQ) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $974.7M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is iQIYI, Inc.'s price-to-sales ratio?
iQIYI, Inc. (IQ) trades at 0.2x sales, its market capitalization divided by revenue of $3.9B revenue, FY2025. The market capitalization is $974.7M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is iQIYI, Inc.'s Altman Z-Score?
iQIYI, Inc. (IQ) has an Altman Z-Score of -0.90, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is iQIYI, Inc.'s Piotroski F-Score?
iQIYI, Inc. (IQ) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are iQIYI, Inc.'s earnings high quality?
iQIYI, Inc. (IQ) reported a net loss of $29.5M while generating $15.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can iQIYI, Inc. cover its interest payments?
iQIYI, Inc. (IQ) has an interest coverage ratio of 0.33x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is iQIYI, Inc.?
iQIYI, Inc. (IQ) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.