Cheetah Mobile Inc. ADR (CMCM) 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 %
Q1 22	—	-$0.37	—	—	—	—
Q4 21	—	-$0.42	—	—	—	—
Q3 21	—	-$0.25	—	—	$196.1M	—
Q1 21	—	$0.4	—	—	$198.4M	—
Q4 20	—	$0.35	—	—	$265.2M	—
Q3 20	—	$0.95	—	—	$365.1M	—
Q2 20	—	$0.85	—	—	$394.2M	—
Q1 20	—	-$0.35	—	—	$528.1M	—
Q4 19	-$2.08	-$8.9	-327.9%	—	$612M	—
Q3 19	$4.86	$17.4	+257.0%	—	$919.9M	—
Q2 19	$4.16	$2.6	-37.5%	—	$970.1M	—
Q1 19	$1.67	$0.85	-49.1%	—	$1.1B	—
Q4 18	$7.22	$28	+287.8%	—	$1.4B	—
Q3 18	$5.78	$6.35	+9.9%	—	$1.4B	—
Q2 18	$3.48	$6.95	+99.7%	—	$1.1B	—
Q1 18	$2.25	$2.4	+6.7%	—	$1.1B	—

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	—	-$8.77	—	—	$1.2B	—
FY24	—	-$20.8	—	—	$806.9M	—
FY23	—	-$20.5	—	—	$669.5M	—
FY22	—	-$18.1	—	—	$884.1M

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	$4.6B	$5B	$5B	$3.6B	$1.6B	$784.6M	$884.1M	$669.5M	$806.9M	$1.2B
YoY change	+21%	+8.98%	+0.14%	-28%	-56.7%	-49.5%	+12.7%	-24.3%	+20.5%	+42.6%

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	4.6B	5B	5B	3.6B	1.6B	784.6M	884.1M	669.5M	806.9M	1.2B
Cost of revenue	1.5B	1.8B	1.5B	1.2B	475.4M	257.7M	252.6M	231.9M	261.7M	316.4M
Gross profit	3B	3.2B	3.4B	2.3B	1.1B	527M	631.5M	437.6M	545.2M	834M
Gross margin	66.2%	64.2%	69.1%	65.4%	69.4%	67.2%	71.4%	65.4%	67.6%	72.5%
Research & development	905.9M	684.9M	668.9M	787.3M	455.2M	211.6M	181M	178.2M	243.4M	346.2M
Selling, general & administrative	2.2B	2.1B	2.3B	2.1B	1.1B	562.1M	691.2M	472.1M	586.8M	629.3M
Operating expenses	3B	2.7B	3B	2.9B	1.6B	756.5M	857.1M	647.4M	829.6M	971.9M
Operating income	-9.6M	446.9M	467.2M	-565.2M	-531.1M	-229.6M	-225.6M	-209.8M	-284.4M	-137.9M
Operating margin	-0.21%	8.98%	9.38%	-15.8%	-34.2%	-29.3%	-25.5%	-31.3%	-35.2%	-12%
Non-operating income, net	-67.1M	963.8M	714.8M	89.5M	1B	-135.4M	-355.9M	-488.8M	-314.4M	-119.4M
Pretax income	-68.9M	1.4B	1.3B	-365.7M	508.2M	-339.6M	-545.8M	-637.6M	-554.3M	-226.7M
Income tax	-12.2M	57.6M	117M	7.9M	97.1M	13.6M	-25.1M	-43.8M	47.3M	8.5M
Net income	-56.7M	1.4B	1.2B	-373.6M	411.2M	-353.2M	-520.7M	-593.9M	-601.6M	-235.2M
Net margin	-1.24%	27.7%	23.1%	-10.4%	26.5%	-45%	-58.9%	-88.7%	-74.6%	-20.4%
EBITDA	294M	598.4M	533.5M	45.8M	-502M	-203M	-77.1M	-163.2M	-58.3M	20.1M
EPS	-3	48	40	-12.5	15.5	-12.3	-18.1	-20.5	-20.8	-8.77
Diluted EPS	-3	47	39	-12.5	15	-12.3	-18.1	-20.5	-20.8	-8.82

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	164.8M	167.3M	190.3M	26.3M	27.2M	237.1M	259M	295.2M	287.4M	308.9M	259M	266.1M
Cost of revenue	50.3M	68.2M	77M	9.3M	8.7M	64.3M	69.5M	70.4M	73M	103.5M	92.4M	97.5M
Gross profit	114.5M	99.1M	113.3M	17.1M	18.4M	172.8M	189.5M	224.8M	214.4M	205.4M	166.6M	168.6M
Gross margin	69.4%	59.2%	59.6%	64.8%	67.9%	72.9%	73.2%	76.1%	74.6%	66.5%	64.3%	63.4%
Research & development	45.8M	39.6M	57.3M	7.6M	9.4M	65.5M	61.2M	67.1M	68M	149.9M	57.7M	58.8M
Selling, general & administrative	110.5M	120.2M	137.1M	20.4M	19.3M	161.1M	157.5M	169.1M	143M	159.8M	137.8M	143.4M
Operating expenses	155.5M	160M	193.9M	28M	28.6M	227M	216M	235.9M	210.4M	309.6M	194.8M	202.2M
Operating income	-41M	-60.9M	-80.6M	-10.9M	-10.2M	-54.2M	-26.5M	-11.1M	3.9M	-104.2M	-28.3M	-33.6M
Operating margin	-24.9%	-36.4%	-42.3%	-41.4%	-37.5%	-22.9%	-10.2%	-3.75%	1.37%	-33.7%	-10.9%	-12.6%
Non-operating income, net	3.4M	-303.8M	-10.9M	-8.3M	3.3M	-267.4M	-2.4M	-11.5M	-3.7M	-101.9M	20.6M	-47.9M
Pretax income	-19.7M	-349M	-76.1M	-17.8M	-5.6M	-311.8M	-23.3M	-12.6M	9.8M	-200.6M	-4.3M	-78.3M
Income tax	218K	-47.8M	198K	-898.5K	337.5K	51.1M	4.8M	3.9M	13.5M	-13.7M	7.6M	8.2M
Net income	-19.9M	-301.2M	-76.3M	-16.9M	-5.9M	-362.9M	-28.1M	-16.4M	-3.7M	-186.9M	-11.9M	-86.5M
Net margin	-12.1%	-180%	-40.1%	-64.3%	-21.8%	-153.1%	-10.9%	-5.57%	-1.29%	-60.5%	-4.6%	-32.5%
EBITDA	-46.4M	-78.4M	-77.3M	-9.8M	-13.2M	130.9M	-28.2M	-17.4M	-4.7M	-76.8M	-47.5M	-54.4M
EPS	-0.72	-11	-2.75	-4.21	-1.61	-12.2	-1.18	-0.81	-0.42	-6.31	-0.63	-3.1
Diluted EPS	-0.72	-11	-2.75	-4.21	-1.61	-12.2	-1.18	-0.81	-0.43	-6.31	-0.64	-3.1

P/E

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
Market cap	9.6B	12.2B	6.2B	3.6B	1.8B	1.4B	385.2M	490.8M	—	184M	184M
Enterprise value	8.3B	8.8B	2.5B	1.4B	184.7M	-378.2M	-1.2B	-1.5B	—	-1.3B	-1.3B
Shares outstanding	201.2M	202.2M	203.5M	198.5M	202.9M	207.4M	209.3M	215.3M	30.1M	30.7M	30.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	8.88	5.39	—	4.44	—	—	—	—	—	—
P/S	2.11	2.45	1.25	1	1.18	1.81	0.44	0.73	—	0.16	0.16
P/B	3	2.71	1.11	0.72	0.48	0.42	0.12	0.18	—	0.09	0.09
EV/EBITDA	28.4	14.8	4.69	31.2	-0.37	1.86	16.1	9.16	—	-65.4	-65.4
EV/Sales	1.83	1.78	0.5	0.4	0.12	-0.48	-1.41	-2.23	—	-1.14	-1.14
Earnings yield	—	11.3%	18.5%	—	22.5%	—	—	—	—	—	—
FCF yield	2.87%	4.91%	4.51%	-9.48%	-5.77%	3.94%	-111.9%	110.2%	—	-100.6%	-100.6%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	66.2%	64.2%	69.1%	65.4%	69.4%	67.2%	71.4%	65.4%	67.6%	72.5%	72.5%
Operating margin	-0.21%	8.98%	9.38%	-15.8%	-34.2%	-29.3%	-25.5%	-31.3%	-35.2%	-12%	-12%
Net margin	-1.24%	27.7%	23.1%	-10.4%	26.5%	-45%	-58.9%	-88.7%	-74.6%	-20.4%	-20.4%
ROE	-1.77%	30.5%	20.6%	-7.48%	10.9%	-10.5%	-16.8%	-22.3%	-27.3%	-12%	-12%
ROA	-1.02%	18.5%	13.9%	-5.33%	7.32%	-7.09%	-10.1%	-10.5%	-10.9%	-5.02%	-5.02%
ROIC	-0.5%	38%	22.6%	-20%	-20%	-14.7%	-15.3%	-31.1%	-71.2%	-30.1%	-30.1%
Return on tangible assets	-1.77%	22.8%	16.6%	-5.4%	7.36%	-7.12%	-10.2%	-14.7%	-14.1%	-6.43%	-6.43%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.54	2.49	3.03	2.29	1.87	1.92	1.76	1.27	1.23	1.27	1.27
Quick ratio	1.53	2.48	3.03	2.27	1.86	1.91	1.75	1.27	1.21	1.25	1.25
Debt / equity	0.16	0.07	—	0.04	0	0.01	0.01	0.01	0.01	0.01	0.01
Debt / assets	0.09	0.05	—	0.03	0	0.01	0.01	0.01	0	0	0
Net debt / EBITDA	-4.33	-5.64	—	-47.4	3.27	8.86	21.1	12.2	31	-74.5	-74.5
Effective tax rate	0%	4.02%	9.21%	0%	19.1%	0%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	22.7	24.6	24.5	18.1	7.65	3.78	4.22	3.11	26.8	37.5	37.5
EPS (basic)	-3	48	40	-12.5	15.5	-12.3	-18.1	-20.5	-20.8	-8.77	-8.77
EPS (diluted)	-3	47	39	-12.5	15	-12.3	-18.1	-20.5	-20.8	-8.82	-8.82
Book value per share	15.9	22.3	27.5	25.2	18.7	16.2	14.8	12.4	73.4	63.9	63.9
FCF per share	1.37	2.97	1.38	-1.72	-0.52	0.27	-2.06	2.51	-8.69	-6.04	-6.04
Cash per share	8.81	18.4	18.3	11.8	8.18	8.91	7.99	9.39	61	49.4	49.4
Capex per share	0.58	0.12	0.25	0.5	0.28	0.22	0	0.1	0.64	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.58%	0.49%	1.03%	2.79%	3.64%	5.94%	0.08%	3.3%	2.39%	—	—
Capex / operating cash flow	26.4%	1.66%	4.08%	-44.9%	6.05%	-29.7%	-0.13%	-2.9%	-4.03%	—	—
Payout ratio	0%	0%	0%	-134%	349.2%	0%	0%	—	—	—	—
Dividend yield	0%	0%	0%	13.9%	78.6%	0%	0%	—	—	—	—

Yield

—

trailing twelve months

Frequency

Annual

Last dividend

$7.20

ex-dividend Jun 22, 2020

Payout ratio

—

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 22, 2020	$7.20
Sep 12, 2019	$2.50

Split history

Date	Ratio
Sep 2, 2022	1:5

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$164.8M	$167.3M	$190.3M	$26.3M	$27.2M	$237.1M	$259M	$295.2M	$287.4M	$308.9M	$259M	$266.1M
YoY change	—	—	+11.6%	-84.2%	-83.5%	+41.7%	+36.1%	+1K%	+958%	+30.3%	-0.01%	-9.86%

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	1.8B	3.7B	3.7B	2.4B	1.7B	1.8B	1.7B	2B	1.8B	1.5B
Receivables	600.9M	621.3M	655.3M	469.3M	225.6M	170.3M	283.8M	401.1M	473.6M	468.1M
Inventory	999K	26.8M	12.2M	31.3M	24.1M	15.4M	16.7M	—	59.2M	53.7M
Total current assets	3.2B	5.4B	5.6B	4B	2.9B	2.6B	3.1B	3.5B	3.8B	3.2B
Property, plant & equipment	117.4M	89.1M	63.9M	287M	119.7M	147M	98.3M	84.3M	77.9M	57.1M
Goodwill & intangibles	2.3B	1.4B	1.3B	89M	25.1M	20.1M	16.9M	1.6B	1.2B	1B
Total assets	5.5B	7.4B	8.3B	7B	5.6B	5B	5.1B	5.6B	5.5B	4.7B
Accounts payable	194.9M	164.5M	171.1M	87.5M	105.8M	134.9M	133M	170.2M	219.6M	211.7M
Short-term debt	379.5M	336.3M	—	58.5M	6.9M	17.5M	14.4M	18.3M	12.7M	9M
Total current liabilities	2.1B	2.2B	1.8B	1.7B	1.6B	1.4B	1.8B	2.7B	3.1B	2.5B
Long-term debt	118.8M	0	—	121.6M	12M	30.7M	27.1M	17.7M	12.9M	6.2M
Total liabilities	2.3B	2.9B	2.7B	2B	1.8B	1.6B	2B	3B	3.3B	2.7B
Shareholders' equity	3.2B	4.5B	5.6B	5B	3.8B	3.4B	3.1B	2.7B	2.2B	2B
Total debt	498.3M	336.3M	—	180.1M	18.8M	48.1M	41.5M	36M	25.6M	15.2M
Net debt	-912.7M	-2B	—	-802.9M	-1.3B	-1.5B	-1.5B	-2B	-1.8B	-1.5B

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 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.1B	—	1.8B	277.4M	216.5M	—	1.7B	2B	1.6B	1.5B	1.3B	1.3B
Receivables	322M	—	438.6M	62.6M	59.2M	—	393.5M	436.1M	443.5M	468.1M	471.3M	689.7M
Inventory	—	—	—	—	—	—	—	—	—	53.7M	—	—
Total current assets	3.7B	—	3.5B	543M	482.1M	—	3.2B	3.6B	3.3B	3.2B	3B	3.3B
Property, plant & equipment	78.1M	23.6M	77.2M	12.1M	11.9M	14.8M	64.9M	62.5M	59.9M	57.1M	55.3M	58.6M
Goodwill & intangibles	7.4M	—	1.6B	219.7M	218.9M	—	1.2B	1.2B	1.3B	1B	1B	1B
Total assets	5.5B	—	5.6B	829.1M	768.3M	—	4.9B	5.2B	5B	4.7B	4.4B	4.6B
Accounts payable	130.2M	—	172.2M	22.5M	24.9M	—	220.1M	227M	207.4M	211.7M	288.2M	413.2M
Short-term debt	—	—	5M	—	—	—	—	—	—	9M	—	2.9M
Total current liabilities	2.3B	—	2.7B	434.1M	382.4M	—	2.5B	2.9B	2.6B	2.5B	2.3B	2.7B
Long-term debt	—	—	—	—	—	—	—	—	—	6.2M	—	—
Total liabilities	2.6B	—	2.9B	467M	413.9M	—	2.7B	3.1B	2.8B	2.7B	2.5B	2.8B
Shareholders' equity	2.9B	—	2.7B	362.2M	354.4M	—	2.2B	2.2B	2.2B	2B	1.9B	1.8B
Total debt	—	—	5M	—	—	—	—	—	—	15.2M	—	2.9M
Net debt	—	—	-1.8B	—	—	—	—	—	—	-1.5B	—	-1.3B

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-56.7M	1.4B	1.2B	-373.6M	411.2M	-353.2M	-520.7M	-593.9M	-601.6M	-235.2M
Depreciation & amortization	163.4M	136.3M	80.1M	65.5M	68.5M	50.8M	53M	35.3M	51.5M	147.2M
Stock-based compensation	306.1M	73.3M	85.1M	127.4M	81M	7.2M	7.9M	33.6M	26.1M	19.8M
Change in working capital	82.1M	-90M	-72.9M	-115.2M	340.1M	118.8M	-104.9M	-192M	-2.1M	-13.7M
Operating cash flow	444.8M	1.5B	1.3B	-223.3M	935.3M	-157M	-571.2M	-761.4M	-478M	-172.3M
Capital expenditure	-117.6M	-24.5M	-51.1M	-100.2M	-56.6M	-46.6M	733K	22.1M	-19.3M	—
Investing cash flow	-1B	-231.5M	538.6M	-1.1B	1.9B	220.8M	189.1M	-49.1M	-34.1M	-52.7M
Dividends paid	0	0	0	-500.6M	-1.4B	0	0	—	—	—
Share repurchases	-179M	0	-221.7M	-175K	0	0	—	—	—	—
Financing cash flow	482.5M	464.4M	-567.7M	-502.1M	-1.4B	-5M	-4.9M	-909K	65.2M	-45.4M
Net change in cash	-96.2M	1.7B	1.2B	-1.8B	1.4B	58.8M	-387M	-811.4M	-446.9M	-270.3M
Free cash flow	275.9M	599.7M	280.2M	-341.7M	-105.4M	56M	-431M	540.8M	-261.1M	-185.1M

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cheetah Mobile Inc. ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement