Waterdrop Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Waterdrop Inc has an operating margin of 6.4%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 32/100, indicating healthy but not exceptional operating efficiency. This is up from -0.3% the prior year.
Waterdrop Inc's revenue grew a modest 2.5% year-over-year to $379.7M. This slow but positive growth earns a score of 36/100.
Waterdrop Inc carries a low D/E ratio of 0.33, meaning only $0.33 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.12, Waterdrop Inc holds $3.12 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Waterdrop Inc has a free cash flow margin of 7.9%, earning a moderate score of 39/100. The company generates positive cash flow after capital investments, but with room for improvement.
Waterdrop Inc generates a 7.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is up from 3.6% the prior year.
Waterdrop Inc scores 2.41, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($640.1M) relative to total liabilities ($216.5M). This signals moderate financial risk that warrants monitoring.
Waterdrop Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Waterdrop Inc generates $1.25 in operating cash flow ($59.9M OCF vs $48.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Waterdrop Inc (WDH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Key Financial Metrics
Waterdrop Inc generated $379.7M in revenue in fiscal year 2024. This represents an increase of 2.5% from the prior year.
Waterdrop Inc's EBITDA was $26.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2613.3% from the prior year.
Waterdrop Inc generated $30.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 45.8% from the prior year.
Waterdrop Inc reported $48.1M in net income in fiscal year 2024. This represents an increase of 108.5% from the prior year.
Waterdrop Inc earned $0.01 per diluted share (EPS) in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Waterdrop Inc held $135.1M in cash against $0 in long-term debt as of fiscal year 2024.
Waterdrop Inc had 3.62B shares outstanding in fiscal year 2024. This represents a decrease of 2.1% from the prior year.
Waterdrop Inc's operating margin was 6.4% in fiscal year 2024, reflecting core business profitability. This is up 6.7 percentage points from the prior year.
Waterdrop Inc's net profit margin was 12.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 6.4 percentage points from the prior year.
Waterdrop Inc's ROE was 7.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 3.7 percentage points from the prior year.
Waterdrop Inc invested $29.7M in research and development in fiscal year 2024. This represents a decrease of 29.6% from the prior year.
Waterdrop Inc spent $14.7M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 80.2% from the prior year.
Waterdrop Inc invested $29.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1470.8% from the prior year.
WDH Income Statement
| Metric | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A |
WDH Balance Sheet
| Metric | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|
| Total Assets | $884.1M+2.1% | $866.0M+0.9% | $858.6M+4.2% | $823.9M |
| Current Assets | $635.4M-16.9% | $764.3M-7.4% | $825.1M+4.5% | $789.8M |
| Cash & Equivalents | $135.1M+141.7% | $55.9M-75.5% | $228.2M+77.9% | $128.3M |
| Inventory | N/A | N/A | N/A | N/A |
| Accounts Receivable | $98.1M+0.5% | $97.6M-0.4% | $98.0M-3.0% | $101.0M |
| Goodwill | $11.1M-2.7% | $11.4M+2193.1% | $496K-7.6% | $537K |
| Total Liabilities | $216.5M+4.5% | $207.1M+23.5% | $167.6M-16.4% | $200.4M |
| Current Liabilities | $203.4M+5.5% | $192.9M+18.6% | $162.6M-17.0% | $196.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A |
| Total Equity | $657.2M+1.8% | $645.9M-6.5% | $691.0M+10.8% | $623.5M |
| Retained Earnings | -$300.6M+16.7% | -$360.8M+8.7% | -$395.4M+24.4% | -$523.3M |
WDH Cash Flow Statement
| Metric | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A |
WDH Financial Ratios
| Metric | Q4'24 | Q4'23 | Q4'22 | Q4'21 |
|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A |
| Current Ratio | 3.12-0.8 | 3.96-1.1 | 5.07+1.0 | 4.03 |
| Debt-to-Equity | 0.330.0 | 0.32+0.1 | 0.24-0.1 | 0.32 |
| FCF Margin | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Waterdrop Inc's annual revenue?
Waterdrop Inc (WDH) reported $379.7M in total revenue for fiscal year 2024. 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 Waterdrop Inc's revenue growing?
Waterdrop Inc (WDH) revenue grew by 2.5% year-over-year, from $370.5M to $379.7M in fiscal year 2024.
Is Waterdrop Inc profitable?
Yes, Waterdrop Inc (WDH) reported a net income of $48.1M in fiscal year 2024, with a net profit margin of 12.7%.
What is Waterdrop Inc's earnings per share (EPS)?
Waterdrop Inc (WDH) reported diluted earnings per share of $0.01 for fiscal year 2024. This represents a 0.0% 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.
What is Waterdrop Inc's EBITDA?
Waterdrop Inc (WDH) had EBITDA of $26.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Waterdrop Inc's operating margin?
Waterdrop Inc (WDH) had an operating margin of 6.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Waterdrop Inc's net profit margin?
Waterdrop Inc (WDH) had a net profit margin of 12.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Waterdrop Inc's return on equity (ROE)?
Waterdrop Inc (WDH) has a return on equity of 7.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Waterdrop Inc's free cash flow?
Waterdrop Inc (WDH) generated $30.0M in free cash flow during fiscal year 2024. This represents a -45.8% 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.
What is Waterdrop Inc's operating cash flow?
Waterdrop Inc (WDH) generated $59.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Waterdrop Inc's total assets?
Waterdrop Inc (WDH) had $884.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Waterdrop Inc's capital expenditures?
Waterdrop Inc (WDH) invested $29.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Waterdrop Inc spend on research and development?
Waterdrop Inc (WDH) invested $29.7M in research and development during fiscal year 2024.
Does Waterdrop Inc buy back shares?
Yes, Waterdrop Inc (WDH) spent $14.7M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Waterdrop Inc have outstanding?
Waterdrop Inc (WDH) had 3.62B shares outstanding as of fiscal year 2024.
What is Waterdrop Inc's current ratio?
Waterdrop Inc (WDH) had a current ratio of 3.12 as of fiscal year 2024, which is generally considered healthy.
What is Waterdrop Inc's debt-to-equity ratio?
Waterdrop Inc (WDH) had a debt-to-equity ratio of 0.33 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Waterdrop Inc's return on assets (ROA)?
Waterdrop Inc (WDH) had a return on assets of 5.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Waterdrop Inc's Altman Z-Score?
Waterdrop Inc (WDH) has an Altman Z-Score of 2.41, placing it in the Grey Zone (moderate 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 Waterdrop Inc's Piotroski F-Score?
Waterdrop Inc (WDH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Waterdrop Inc's earnings high quality?
Waterdrop Inc (WDH) has an earnings quality ratio of 1.25x, 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.
How financially healthy is Waterdrop Inc?
Waterdrop Inc (WDH) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.