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SY · Nasdaq · United States · Services-Computer Processing & Data Preparation
In shortSo-Young International Inc. is loss-making, burns cash and holds more cash than debt, with revenue growing (+3.9% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -18.8% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -15.9% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -14.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -14.2% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.89× | 91/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.03× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.23 | 3/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -19.8% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 1 of 5 | 20/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 21.5% | 31/100 |
| Operating margin volatility | 16.7% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 6.6% | 53/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CNY millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 1,692 | 1,258 | 1,498 | 1,467 | 1,523 |
| Cost of revenue | 328 | 393 | 544 | 568 | 796 |
| Gross profit | 1,365 | 865 | 954 | 899 | 728 |
| Research & development | 287 | 235 | 204 | 165 | 137 |
| Operating income | (33) | (103) | (61) | (624) | (286) |
| Pre-tax income | (16) | (87) | 7.9 | (588) | (246) |
| Income tax | 21 | (21) | (18) | (0.9) | 0.8 |
| Net income | (8.4) | (66) | 21 | (590) | (242) |
| Diluted shares (millions) | 82 | 83 | 78 | 79 | 78 |
4 older years available with the 10-year history. Essential plan, from €8.25/month →
1.23 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice.
Latest annual report: Dec 31, 2025 · Data updated Apr 23, 2026