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9F Inc. Financials

JFU
Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows 9F Inc. (JFU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI JFU FY2024

9F now looks like a balance-sheet-heavy company: very low leverage supports a much smaller operating business.

The unusual FY2024 combination of positive net income at 40.0%, negative operating income at -36.4%, and only $17.1M of revenue says the reported profit did not come from core operations. That matters because the company has produced positive operating cash flow for three straight years, yet cash on hand still fell from $231.0M in FY2023 to $52.0M as funds were redirected into investing uses rather than consumed by day-to-day losses.

The balance sheet is carrying the story more than the income statement: FY2024 assets of $564.9M sit against only $63.9M of liabilities, with debt-to-equity at 0.1x. That conservative funding posture means the company is not trying to support a shrinking revenue base with heavy borrowing, which lowers financing strain even as operations stay subscale.

FY2024’s gross margin reached 76.2%, but selling and administrative expense was $30.5M against just $17.1M of revenue, so the operating problem is overhead absorption rather than direct service cost. The business is acting less like a growth engine and more like a small operating platform sitting inside a much larger pool of assets.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score pending refresh

We are recalculating 9F Inc.'s peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial
6/6

9F Inc. passes 6 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.23x

For every $1 of reported earnings, 9F Inc. generates $1.23 in operating cash flow ($29.7M OCF vs $24.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$19.2M
YoY+12.2%
5Y CAGR-36.9%

9F Inc. generated $19.2M in revenue in fiscal year 2025. This represents an increase of 12.2% from the prior year.

EBITDA
$3.7M
YoY+183.8%

9F Inc.'s EBITDA was $3.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 183.8% from the prior year.

Net Income
$24.1M
YoY+251.2%

9F Inc. reported $24.1M in net income in fiscal year 2025. This represents an increase of 251.2% from the prior year.

EPS (Diluted)
$0.10
YoY+233.3%

9F Inc. earned $0.10 per diluted share (EPS) in fiscal year 2025. This represents an increase of 233.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$29.3M
YoY+371.8%

9F Inc. generated $29.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 371.8% from the prior year.

Cash & Debt
$62.1M
YoY+14.5%
5Y CAGR-31.7%

9F Inc. held $62.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
174M
5Y CAGR-3.1%

9F Inc. had 174M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
81.2%
YoY+5.0pp

9F Inc.'s gross margin was 81.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 5.0 percentage points from the prior year.

Operating Margin
8.4%
YoY+44.8pp

9F Inc.'s operating margin was 8.4% in fiscal year 2025, reflecting core business profitability. This is up 44.8 percentage points from the prior year.

Net Margin
125.2%
YoY+85.2pp
5Y CAGR+305.1pp

9F Inc.'s net profit margin was 125.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 85.2 percentage points from the prior year.

Return on Equity
4.5%
YoY+3.1pp
5Y CAGR+58.7pp

9F Inc.'s ROE was 4.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.1 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$381K
YoY+144.2%

9F Inc. invested $381K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 144.2% from the prior year.

JFU Income Statement

Metric Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Revenue N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A
Net Income N/A N/A N/A N/A N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A

JFU Balance Sheet

Metric Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Total Assets $614.6M+8.8% $564.9M-0.7% $568.9M-9.0% $625.0M-21.1% $792.4M-4.0% $825.5M-35.3% $1.3B
Current Assets N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $62.1M+14.5% $54.2M-76.5% $231.0M-37.7% $370.7M-3.3% $383.4M-8.2% $417.9M-37.9% $672.8M
Inventory N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A $5.4M-59.9% $13.4M+1.7% $13.2M+110.1% $6.3M-84.5% $40.4M
Goodwill N/A N/A N/A $3.6M+3.3% $3.5M+2.4% $3.4M-67.3% $10.4M
Total Liabilities $75.4M+17.9% $63.9M-2.8% $65.7M-24.4% $86.9M-35.6% $134.9M-24.3% $178.3M-51.4% $366.6M
Current Liabilities N/A N/A N/A N/A N/A N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A
Total Equity $530.8M+7.6% $493.4M-0.4% $495.5M-6.5% $530.1M-18.3% $648.7M+1.5% $638.9M-29.2% $902.2M
Retained Earnings -$374.5M+1.7% -$381.1M+4.3% -$398.1M-2.2% -$389.5M-20.6% -$322.9M-15.6% -$279.3M-498.3% $70.1M

JFU Cash Flow Statement

Metric Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Operating Cash Flow N/A N/A N/A N/A N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A
Dividends Paid N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A

JFU Financial Ratios

Metric Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Gross Margin N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A N/A
Return on Assets N/A N/A N/A N/A N/A N/A N/A
Current Ratio N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.14+0.0 0.130.0 0.13-0.0 0.16-0.0 0.21-0.1 0.28-0.1 0.41
FCF Margin N/A N/A N/A N/A N/A N/A N/A

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Frequently Asked Questions

9F Inc. (JFU) reported $19.2M in total revenue for fiscal year 2025. This represents a 12.2% 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.

9F Inc. (JFU) revenue grew by 12.2% year-over-year, from $17.1M to $19.2M in fiscal year 2025.

Yes, 9F Inc. (JFU) reported a net income of $24.1M in fiscal year 2025, with a net profit margin of 125.2%.

9F Inc. (JFU) reported diluted earnings per share of $0.10 for fiscal year 2025. This represents a 233.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

9F Inc. (JFU) had EBITDA of $3.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

9F Inc. (JFU) had a gross margin of 81.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

9F Inc. (JFU) had an operating margin of 8.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

9F Inc. (JFU) had a net profit margin of 125.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

9F Inc. (JFU) has a return on equity of 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

9F Inc. (JFU) generated $29.3M in free cash flow during fiscal year 2025. This represents a 371.8% 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.

9F Inc. (JFU) generated $29.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

9F Inc. (JFU) had $614.6M in total assets as of fiscal year 2025, including both current and long-term assets.

9F Inc. (JFU) invested $381K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

9F Inc. (JFU) had 174M shares outstanding as of fiscal year 2025.

9F Inc. (JFU) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

9F Inc. (JFU) had a return on assets of 3.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

9F Inc. (JFU) has a Piotroski F-Score of 6 out of 6 computable signals; 3 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.

9F Inc. (JFU) has an earnings quality ratio of 1.23x, considered cash-backed (high quality). 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.

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