Fangdd Network Group Ltd. Class A Ordinary Shares (DUO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 22	—	-$6.36	—	—	—	—
Q1 22	—	-$5	—	—	—	—
Q4 21	—	-$1.35	—	—	$80.7M	—
Q3 21	$5.55	-$9.3	-267.6%	—	$169.2M	—
Q2 21	$203.6	-$360.4	-277.0%	—	$401.4M	—
Q1 21	-$142.9	-$262	-83.4%	—	$291M	—
Q4 20	$410.6	-$193.3	-147.1%	—	$622.4M	—
Q3 20	$2.97	$0.99	-66.7%	—	$819.1M	—
Q2 20	$1.46	$0.32	-78.1%	—	$737.7M	—
Q1 20	-$1.39	-$3.03	-118.0%	—	$272.1M	—
Q4 19	$3.15	$1.92	-39.0%	—	$1B	—
Q3 19	$0.11	$0.14	+27.3%	—	$948M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$13	—	—	$354.8M	—
FY24	—	$45.3	—	—	$339.1M	—
FY23	—	-$357.7	—	—	$285M	—
FY22	—	-$10.8K	—	—	$245.9M	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.5B	$1.8B	$2.3B	$3.6B	$2.5B	$942.4M	$245.9M	$285M	$339.1M	$354.8M
YoY change	—	+21.9%	+26.9%	+57.7%	-31.9%	-61.6%	-73.9%	+15.9%	+19%	+4.64%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.5B	1.8B	2.3B	3.6B	2.5B	942.4M	245.9M	285M	339.1M	354.8M
Cost of revenue	1.2B	1.4B	1.8B	2.8B	2B	835.9M	221.2M	243.8M	277.4M	291.2M
Gross profit	228.4M	381.6M	476.6M	757M	414.5M	106.5M	24.7M	41.2M	61.7M	63.6M
Gross margin	15.5%	21.2%	20.9%	21%	16.9%	11.3%	10.1%	14.5%	18.2%	17.9%
Research & development	182.6M	191.7M	202.9M	725M	301.4M	167.5M	66M	32.1M	24.8M	25.4M
Selling, general & administrative	409.6M	194.8M	204.4M	568.8M	339.1M	896.3M	208.2M	274.2M	162.6M	171.5M
Operating expenses	578.4M	374.1M	398.5M	1.3B	617.6M	1B	259.2M	303.9M	187.3M	196.6M
Operating income	-350M	7.5M	78.2M	-514.4M	-203.1M	-935M	-234.5M	-262.7M	-125.6M	-133.1M
Operating margin	-23.7%	0.42%	3.43%	-14.3%	-8.29%	-99.2%	-95.3%	-92.2%	-37%	-37.5%
Non-operating income, net	14.3M	8.5M	31.4M	16.5M	9.4M	-250.8M	7.5M	168.3M	144.5M	26.7M
Pretax income	-330.9M	3M	108.5M	-506.6M	-206.7M	-1.2B	-232.1M	-95M	20.6M	-106.3M
Income tax	1.1M	2.4M	4.4M	3.8M	14.7M	8.9M	7.5M	-1.9M	-7.7M	-20.3M
Net income	-332.1M	649K	104M	-510.4M	-221.4M	-1.2B	-239.6M	-93.1M	28.3M	-86M
Net margin	-22.5%	0.04%	4.56%	-14.2%	-9.03%	-127.7%	-97.4%	-32.7%	8.35%	-24.2%
EBITDA	-338.5M	44M	117.6M	-480.1M	-186.2M	-1.1B	-216.2M	-260.6M	-116.5M	-138.5M
EPS	—	—	—	—	—	-52.2K	-10.8K	-357.7	45.3	-13
Diluted EPS	—	—	—	—	—	-52.2K	-10.8K	-357.7	45.3	-13

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 19	Q3 19	Q4 19	Q1 20	Q2 20	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q4 22
Revenue	948.2M	948M	1B	272.1M	737.7M	819.1M	622.4M	291M	401.4M	169.2M	80.7M	—
Cost of revenue	726M	749.1M	832.8M	222.7M	616.7M	626.8M	570.6M	257.7M	338.9M	163.2M	76M	—
Gross profit	222.2M	198.8M	214.5M	49.4M	121M	192.3M	51.8M	33.3M	62.5M	6M	4.7M	—
Gross margin	23.4%	21%	20.5%	18.2%	16.4%	23.5%	8.33%	11.4%	15.6%	3.54%	5.83%	—
Research & development	79.1M	73.4M	506.8M	95M	70.5M	65M	70.9M	37.3M	64.5M	40.3M	25.5M	—
Selling, general & administrative	76.6M	48.6M	393M	94.5M	83.4M	103.8M	57.4M	103.1M	140.6M	276.1M	376.5M	—
Operating expenses	91.7M	170.6M	842.1M	283.9M	153.9M	168.8M	128.3M	140.3M	205.1M	316.4M	402M	—
Operating income	66.5M	76.8M	-662.9M	-140M	-33M	23.5M	-53.6M	-107M	-142.6M	-310.4M	-375M	—
Operating margin	7.02%	8.11%	-63.3%	-51.5%	-4.47%	2.86%	-8.61%	-36.8%	-35.5%	-183.4%	-464.6%	—
Non-operating income, net	—	—	—	3.6M	—	—	—	2.2M	—	—	—	—
Pretax income	66.5M	76.8M	-655.1M	-136.4M	-33M	23.5M	-57.2M	-104.8M	-142.6M	-310.4M	-634.1M	—
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	85.5M	80.3M	-691M	-136.4M	-14M	21.9M	-92.8M	-104.8M	-139M	-355M	-604.1M	—
Net margin	9.02%	8.47%	-66%	-50.1%	-1.9%	2.67%	-14.9%	-36%	-34.6%	-209.8%	-748.5%	—
EBITDA	66.5M	76.8M	-646.4M	-140M	-33M	23.5M	-44.2M	-107M	-142.6M	-310.4M	-625.7M	—
EPS	—	—	—	—	—	—	—	—	—	—	—	-112.5
Diluted EPS	—	—	—	—	—	—	—	—	—	—	—	-112.5

Shares outstanding

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Shares outstanding	—	—	—	—	—	22.5K	23.1K	256.5K	681.4K	6.5M	6.5M

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	15.5%	21.2%	20.9%	21%	16.9%	11.3%	10.1%	14.5%	18.2%	17.9%	17.9%
Operating margin	-23.7%	0.42%	3.43%	-14.3%	-8.29%	-99.2%	-95.3%	-92.2%	-37%	-37.5%	-37.5%
Net margin	-22.5%	0.04%	4.56%	-14.2%	-9.03%	-127.7%	-97.4%	-32.7%	8.35%	-24.2%	-24.2%
ROE	22.3%	-0.04%	-5.57%	-32.1%	-15.1%	-396.1%	-251.2%	-48.6%	7.38%	-14.9%	-14.9%
ROA	-17.6%	0.02%	3.61%	-11.7%	-5.47%	-62.9%	-22.3%	-12.1%	3.87%	-10.9%	-10.9%
ROIC	12.5%	-0.1%	-3.77%	-53.4%	-19.2%	1.6K%	-977.1%	-481.2%	-64.1%	-30.6%	-30.6%
Return on tangible assets	-17.6%	0.02%	3.61%	-11.7%	-5.58%	-62.9%	-22.3%	-12.1%	3.88%	-26.9%	-26.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.61	1.3	1.22	1.35	1.36	1.03	0.9	1.12	1.68	1.86	1.86
Quick ratio	1.61	1.3	1.22	1.35	1.36	1.03	0.89	1.09	1.66	1.84	1.84
Debt / equity	—	-0.41	-0.21	0.31	0.3	0.44	0.78	0	0	0	0
Debt / assets	—	0.23	0.14	0.11	0.11	0.07	0.07	0	0	0	0
Net debt / EBITDA	—	1.29	-1.02	1.3	2.2	0.33	0.33	0.53	1.61	1.03	1.03
Interest coverage	—	1.23	98	-57.1	-14.9	-142.6	-45.6	-423.1	—	—	—
Effective tax rate	0%	78.5%	4.09%	0%	0%	0%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	—	—	—	—	—	41.9K	10.6K	1.1K	497.7	54.3	54.3
EPS (basic)	—	—	—	—	—	-52.2K	-10.8K	-357.7	45.3	-13	-13
EPS (diluted)	—	—	—	—	—	-52.2K	-10.8K	-357.7	45.3	-13	-13
Book value per share	—	—	—	—	—	13.5K	4.1K	746.5	562.5	88.5	88.5
FCF per share	—	—	—	—	—	-3.3K	-5.5K	-726.6	-134.4	-12.8	-12.8
Cash per share	—	—	—	—	—	22.2K	6.3K	534.2	277.3	22.1	22.1
Capex per share	—	—	—	—	—	543.3	6.67	—	—	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.66%	0.26%	0.37%	0.05%	0.42%	1.3%	0.06%	—	—	—	—
Capex / operating cash flow	-5.78%	-1.5%	16.3%	1.62%	-2.89%	-1.35%	-0.07%	—	—	—	—

Period	Q2 19	Q3 19	Q4 19	Q1 20	Q2 20	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q4 22
Revenue	$948.2M	$948M	$1B	$272.1M	$737.7M	$819.1M	$622.4M	$291M	$401.4M	$169.2M	$80.7M	—
YoY change	—	+71.9%	+50%	-58.5%	-22.2%	-13.6%	-40.6%	+6.96%	-45.6%	-79.3%	-87%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.3B	606.2M	515.1M	1.1B	852.4M	498.3M	145.9M	137M	189M	144.2M
Receivables	194.3M	827.8M	1.4B	2.2B	2.3B	884.7M	471M	314.6M	196M	147.9M
Inventory	—	—	—	—	—	0	11.2M	12.5M	5.4M	5M
Total current assets	1.8B	2.7B	2.4B	3.7B	3.5B	1.6B	858.9M	613.1M	548.6M	390.1M
Property, plant & equipment	46M	19.5M	12.9M	5.7M	11.9M	12M	2.6M	3.2M	3M	-465K
Goodwill & intangibles	—	—	—	0	77.2M	0	908K	2.3M	2M	468.1M
Total assets	1.9B	2.8B	2.9B	4.4B	4B	1.9B	1.1B	769.9M	731.2M	788.3M
Accounts payable	255.1M	593.5M	1.1B	1.9B	1.8B	1.2B	659.2M	341.8M	180.7M	72.8M
Short-term debt	—	663.1M	395M	490M	443.4M	134.8M	73.7M	111K	1.3M	806K
Total current liabilities	1.1B	2.1B	2B	2.8B	2.6B	1.6B	949.7M	549.7M	326.6M	209.4M
Long-term debt	—	—	—	—	—	0	792K	29K	130K	0
Total liabilities	3.4B	4.4B	4.7B	2.8B	2.6B	1.6B	981.3M	578.4M	347.9M	209.4M
Shareholders' equity	-1.5B	-1.6B	-1.9B	1.6B	1.5B	303.7M	95.4M	191.5M	383.3M	578.9M
Total debt	—	663.1M	395M	490M	443.4M	134.8M	74.5M	140K	1.5M	806K
Net debt	—	89.4M	-48.6M	-613.7M	-400M	-357.3M	-69.4M	-121.6M	-73.9M	-28.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 19	Q3 19	Q4 19	Q1 20	Q2 20	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q4 22
Cash & short-term investments	552.6M	530.5M	1.1B	838M	854.9M	979.6M	852.4M	817.5M	686.1M	620.5M	498.3M	145.9M
Receivables	1.9B	2B	2.2B	2B	2.1B	2.2B	2.3B	2B	1.8B	1.3B	884.7M	471M
Inventory	—	—	—	—	—	—	—	—	—	—	0	11.2M
Total current assets	2.8B	2.9B	3.7B	3.3B	3.4B	3.7B	3.5B	3.1B	2.9B	2.3B	1.6B	858.9M
Property, plant & equipment	9.3M	—	5.7M	—	—	—	11.9M	—	—	—	12M	2.6M
Goodwill & intangibles	—	—	0	—	—	—	77.2M	—	—	—	0	908K
Total assets	3.3B	3.6B	4.4B	4.2B	4B	4.2B	4B	3.6B	3.4B	2.8B	1.9B	1.1B
Accounts payable	1.5B	1.7B	1.9B	1.8B	1.8B	1.9B	1.8B	1.6B	1.5B	1.4B	1.2B	659.2M
Short-term debt	295M	386M	490M	—	—	447.9M	443.4M	374.5M	290.7M	220.2M	134.8M	73.7M
Total current liabilities	2.3B	2.5B	2.8B	2.7B	2.5B	2.7B	2.6B	2.2B	2.1B	1.9B	1.6B	949.7M
Long-term debt	—	—	—	—	—	—	—	—	—	—	0	792K
Total liabilities	5.2B	5.5B	2.8B	2.7B	2.5B	2.7B	2.6B	2.3B	2.1B	1.9B	1.6B	981.3M
Shareholders' equity	-1.9B	-1.9B	1.6B	1.5B	1.5B	1.5B	1.5B	1.4B	1.2B	900.5M	303.7M	95.4M
Total debt	295M	386M	490M	—	—	447.9M	443.4M	374.5M	290.7M	220.2M	134.8M	74.5M
Net debt	-237M	-101.9M	-613.7M	—	—	-505.7M	-400M	-432M	-384.2M	-386.2M	-357.3M	-69.4M

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-332.1M	649K	104M	-510.4M	-221.4M	-1.2B	-239.6M	-93.1M	28.3M	-86M
Depreciation & amortization	24.6M	30.4M	14.3M	4.8M	3.8M	7.7M	3.3M	1.8M	1.6M	11.7M
Stock-based compensation	—	0	0	745.9M	102.8M	47.1M	16.7M	105K	18K	0
Change in working capital	-116.5M	-338.6M	-63.9M	-117.4M	-240.2M	238.4M	44.3M	6.7M	51.2M	-64.1M
Operating cash flow	-423.7M	-308.5M	51.8M	115.8M	-353.1M	-906.4M	-208.8M	-186.1M	-60.4M	-60.2M
Capital expenditure	-24.5M	-4.6M	-8.4M	1.9M	-10.2M	-12.2M	-154K	—	—	—
Investing cash flow	-194.9M	212.1M	-349.9M	-151.8M	5.8M	-43.7M	-159.3M	31.7M	-114.7M	-27.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-2.4M	663.1M	-951.2M	148.4M	-634.1M	-770M	-193.4M	47.3M	90.5M	47.9M
Net change in cash	-621M	566.8M	-1.2B	112.4M	-981.3M	-1.7B	-561.5M	-107.1M	-84.6M	-39.7M
Free cash flow	-201.8M	-679.1M	121M	116.8M	-335.2M	-73.1M	-127.2M	-186.4M	-91.6M	-83.6M

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Shares outstanding

Key stats

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Fangdd Network Group Ltd. Class A Ordinary Shares Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Shares outstanding

Key stats

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement