Jianpu Technology Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Jianpu Technology Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	222	293	206	89.8	126	143	151	138	140
Cost of revenue	22.1	32.5	19.2	18.1	102	113	112	87.4	93.5
Gross profit	200	260	187	71.7	24.3	30.8	38.5	50.4	46.5
Research and development	23.7	35.1	39.1	23.7	20.8	16.5	13.3	10.7	10.4
Selling and marketing	189	225	172	73.8	22.5	19.5	18.6	20.4	17.6
General and administrative	14.4	25.9	14.5	20.9	21.6	14.9	14	12.4	15.4
Operating income	-26.7	-26	-79.8	-49.4	-40.6	-22	-7.4	6.94	3.08
Other non-operating income	-0.03	1.36	1.69	1.72	9.11	2.98	2.62	6.23	3.34
Pre-tax income	-26.7	-23.9	-77.4	-48	-32.1	-19.6	-3.82	14.5	4.58
Income tax	4.36	-0.65	-1.15	-0.2	-0.09	-0.13	-0	0.03	-0
Net income to minority interests		0.7	-11.3	-1.23	-0.68	-1.44	-0.04	-0.03	-0.01
Net income	-31.1	-23.9	-64.9	-46.6	-31.4	-18	-3.77	14.5	4.59
EBITDA	-25.8	-22.3	-74.6	-46.6	-38.8	-21.4	-6.78	7.44	3.3
EPS, basic	-0.09	-0.06	-0.15	-0.11	-0.07	-0.05	-0.01	0.04	0.01
EPS, diluted	-0.09	-0.06	-0.15	-0.11	-0.07	-0.05	-0.01	0.04	0.01
Shares, basic (weighted)	353	417	421	423	424	424	425	399	387
Shares, diluted (weighted)	353	417	421	423	424	424	425	410	409

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	237	182	107	86.3	64.5	48.8	47.2	59.9	30.6
Short-term investments		11.4		3.07	5.64
Receivables	28	64.6	49.6	36.8	27.5	27.5	22.8	19.6	13.4
Other current assets	24.7	23.3	17	10.2	8.39	6.75	5.66	9.12	7.72
Total current assets	290	305	203	194	150	128	121	122	65.4
Property, plant and equipment	2.92	7.61	5.27	2.78	1.98	1.82	1.66	1.29	0.1
Goodwill		21.4	1.82	1.57	1.61
Intangible assets		16.7	3.89	3.86	3.4	2.66	2.42	2.38	0.19
Long-term investments									12.2
Other non-current assets	1.17	5.13	6.49	7.19	5.32	1.56	1.55	8.12	0.07
Total assets	294	356	239	215	168	140	131	138	82.1
Accounts payable	27.3	29.3	26.5	28.5	16.3	14	15	14.8	13.8
Deferred revenue		16.8	6.32	8.32	7.41	6.8	6.5	7.07	7.55
Short-term debt		18.9	8.62	24.3	28.5	36.8	33.3	27.7
Total current liabilities	57.6	102	81.7	100	83.1	73.8	70.3	64.9	40
Other non-current liabilities		2.99	2.18	3.05	2.14	1.9	1.65	1.51	0.03
Total liabilities	57.6	108	84.7	104	85.9	76.3	72.4	66.4	40.1
Paid-in capital	267	285	273	289	299	274	266	259	219
Retained earnings	-26.9	-49.4	-114	-169	-204	-206	-204	-184	-184
Treasury stock		-10.2	-14.7	-13.6	-13.8	-11.2	-10.3	-11.2	-0.67
Other comprehensive income	-3.25	5.49	7.51	0.15	-2.42	5.5	6.68	7.4	6.99
Shareholders' equity	236	231	152	107	78.7	62.3	58.7	71.3	42
Minority interests		16.8	0.72	3.65	3.02	0.94	0.08	0.04	0.06
Total equity	236	248	153	111	81.7	63.3	58.8	71.3	42
Total liabilities and equity	294	356	239	215	168	140	131	138	82.1
Shares outstanding	414	415	423	424	424	424	425	372	401

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-31.1	-23.2	-76.2	-47.8	-32	-19.5	-3.81	14.5	4.58
Depreciation and amortization	0.89	3.68	5.24	2.86	1.74	0.65	0.62	0.5	0.22
Stock-based compensation	16.6	19	0.92	-0.66	2.72	0.95	0.61	0.28	0.03
Deferred income tax			-2.41	-0.25	-0.09	-0.13	-0.04	-0.03	-0.01
Change in receivables	-19.1	-38	10.5	15.1	-5.6	-2.44	3.05	1.17	6.68
Change in payables	20.9	2.36
Cash from operations	-4.32	-10.6	-28.8	-16.5	-46.2	-22.4	0.6	10.9	15.1
Capital expenditures	-2.89	-6.09	-2.35	-0.63	-0.49	-0.26	-0.29	-0.99	-0.05
Acquisitions		-15.9	-3.53	-2.03
Purchases of investments		-12.9	-47.6	-6.13	-26.6	-4.35			-50
Cash from investing	-2.89	-47	-6.82	-14	5.73	-5.79	0.08	4.77	23.8
Stock issued	210	0.07	1.44	0.02	0	0.02	0.01	0	0.32
Share buybacks		-10.2	-19.3					-1.54	-0
Dividends paid									-36.7
Cash from financing	248	8.79	-28.4	15.1	3.67	9.14	-2.43	-6.17	-68
Exchange rate effect	-3.25
Net change in cash	237	-39.8	-62.7	-20.6	-38.5	-14.2	-1.18	9.76	-29.2
Free cash flow	-7.21	-16.7	-31.2	-17.1	-46.7	-22.7	0.31	9.94	15.1
Interest paid				0.86	0.86	1.21	1.34	1.14
Income taxes paid				0.05	0.05

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.94 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.2%	Gross profit / revenue.
Operating margin	2.2%	Operating income / revenue.
EBITDA margin	2.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.3%	Pre-tax income / revenue.
Net margin	3.3%	Net income / revenue.
FCF margin	10.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.8%	Cash from operations / revenue.
Effective tax rate	-0.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.2%	Net income / average total assets.
Return on invested capital (ROIC)	21.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	7.4%	Research and development expense / revenue.
Stock-based pay / revenue	0.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.0%	Capital expenditures / revenue.
D&A / revenue	0.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-7.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-8.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-55.6%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-55.6%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-68.4%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-75.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	38.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	51.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-41.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-12.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-17.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-40.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-16.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-17.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.63x	Current assets / current liabilities.
Quick ratio	1.10x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.77x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	48.8%	Total liabilities / total assets.
Working capital	$25.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$41.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.27x	Revenue / average total assets.
Fixed asset turnover	201x	Revenue / average property, plant and equipment.
Receivables turnover	8.49x	Revenue / average receivables.
Days sales outstanding	43 days	365 x average receivables / revenue.
Days payables	56 days	365 x average accounts payable / cost of revenue.
FCF conversion	328.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.01	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.01	Net income per basic share, as reported (split-adjusted).
Revenue per share	$0.34	Revenue / diluted weighted shares.
FCF per share	$0.04	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.04	Cash from operations / diluted weighted shares.
Book value per share	$0.10	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.10	Tangible book value / shares outstanding.
Cash per share	$0.08	(Cash + short-term investments) / shares outstanding.
Payout ratio	798.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	243.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$376.5M	Share price x shares outstanding.
Enterprise value	$345.9M	Market cap + total debt - cash - short-term investments.
P/E	82.1x	Market cap / net income. Only when net income is positive.
P/S	2.69x	Market cap / revenue.
P/B	8.97x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	9.01x	Market cap / tangible book value, when positive.
P/FCF	25.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	24.9x	Market cap / cash from operations, when positive.
EV/Sales	2.47x	Enterprise value / revenue.
EV/EBIT	112x	Enterprise value / operating income, when both are positive.
EV/EBITDA	105x	Enterprise value / EBITDA, when both are positive.
EV/FCF	23.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.0%	Free cash flow / market cap.
Earnings yield	1.2%	Net income / market cap (the inverse of P/E).
Dividend yield	9.7%	Dividends paid over the period / market cap.
Shareholder yield	9.7%	(Dividends paid + share buybacks) / market cap.

What was Jianpu Technology Inc.'s revenue in fiscal 2025?

Jianpu Technology Inc. reported revenue of $140.0M for fiscal 2025, 1.5% higher than the year before.

Was Jianpu Technology Inc. profitable in fiscal 2025?

Yes. Net income was $4.6M, a net margin of 3.3%.

How much free cash flow did Jianpu Technology Inc. generate in fiscal 2025?

Cash from operations of $15.1M minus capital expenditures of $47.0K left free cash flow of $15.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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