Autohome Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Autohome 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	859	954	1,052	1,210	1,327	1,136	1,006	1,012	964	923
Cost of revenue	345	209	119	138	147	164	179	199	203	255
Gross profit	514	746	933	1,072	1,180	971	827	813	761	668
Research and development	82.3	135	165	185	209	219	205	190	181	152
Selling and marketing	221	253	354	444	498	433	416	424	409	362
General and administrative	44.2	43.3	45.8	45.7	58.5	85.3	72.8	75.8	73.3	72.1
Operating expenses			565	675	765	738	694	690	663	586
Operating income	166	314	417	465	482	280	181	160	137	110
Other non-operating income	2.01	1.32
Pre-tax income	180	348	471	532	562	342	256	281	231	219
Income tax	4.7	41.1	55	71.9	40	5.34	-8.96	10.2	8.63	20.3
Net income to minority interests	-1.68	-1.1	-1.09	0.1	0.36	-16.6	-4.43	-1.4	-7.92	-7.54
Net income	177	308	418	460	522	353	269	273	230	206
EBITDA	176	327	430	480	507	315	214	184	154	126
EPS, basic	1.55	2.64	3.55	3.88	1.09	0.67	0.52	0.54	0.46	0.42
EPS, diluted	1.52	2.61	3.50	3.85	1.09	0.67	0.52	0.54	0.46	0.42
Shares, basic (weighted)	114	116	471	474	477	500	499	490	485	470
Shares, diluted (weighted)	116	118	477	478	480	500	500	491	487	472
Dividend per share					0.77	0.87	0.53	1.73	1.72	1.79

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	506	140	30.8	286	268	665	406	704	232	311
Short-term investments	350	1,113	1,433	1,552	1,974	2,589	2,795	2,613	2,962	2,440
Receivables	174	291	407	464	479	336	279	207	186	218
Inventory	13.8	0
Other current assets	54.3	28.6	36.4	43.4	86.3	44	51.8	50.8	46.2	44.1
Total current assets	1,085	1,577	1,911	2,350	2,814	3,660	3,541	3,595	3,447	3,030
Property, plant and equipment	19.4	20	24.8	40.5	62.8	59.9	37	28.3	28	27.3
Lease right-of-use assets				11.6	32.1	20.9	16.7	28.1	13.6	8.89
Goodwill	217	231	219	216	624	639	572	555	540	564
Intangible assets	4.27	7.83	5.73	3.99	67.5	56.1	40.4	28.5	17.5	7.68
Long-term investments	19.4	22.7	10.3	10.3	10.8	11.1	60.8	63.1	46.5
Other non-current assets	4.9	2.67	107	126	39.6	20.9	16.8	28.3	17.5	13
Total assets	1,353	1,890	2,292	2,752	3,637	4,477	4,308	4,343	4,140	4,048
Accounts payable	166	255	355	347	395	321	368	413	402	314
Accrued liabilities	43.5	63	83.5	71.2	84.7	82.6	73.7	81.4	74	71.3
Deferred revenue	146	217	220	197	202	244	166	113	37.9	24.4
Total current liabilities	366	598	606	570	641	626	588	715	621	505
Other non-current liabilities				6.54	16.1	4.49	7.34	12.6	3.17	3.08
Total liabilities	438	670	676	654	754	721	671	798	688	574
Paid-in capital	433	499	509	542	627	1,238	1,169	1,157	1,127	1,176
Retained earnings	464	711	1,091	1,537	2,064	2,345	2,348	2,338	2,294	2,380
Treasury stock						-4.9	-109	-188	-209	-320
Other comprehensive income	18	10.8	18.7	21.3	9.55	-7.83	53.6	62.3	67.9	57.1
Shareholders' equity	916	1,222	1,620	2,101	2,701	3,571	3,464	3,370	3,281	3,295
Minority interests	-1.32	-2.51	-3.47	-3.33	19.4	-44.7	-58.8	-72.4	-93.5	-124
Total equity	915	1,220	1,616	2,098	2,721	3,526	3,405	3,298	3,188	3,171
Total liabilities and equity	1,353	1,890	2,292	2,752	3,637	4,477	4,308	4,343	4,140	4,048
Shares outstanding		469	472	476	479	505	493	483	479	463

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	175	307	416	460	522	336	265	271	222	199
Depreciation and amortization	9.4	12.6	13.1	15.4	24.3	35.4	32.8	23.6	16.9	15.8
Stock-based compensation	28.1	27.3	29.4	29.3	32.4	32.3	24.5	27.5	26.3	31.3
Deferred income tax	-15	1.89	14.9	20.8	-3.44	-23.7	-21.5	-7.04	-5.83	5.12
Change in receivables	-19.1	-106	-132	-68.9	-6.12	146	29.5	67.6	10.7	-27
Change in inventory	0.64	14.5
Cash from operations	234	380	453	415	510	553	372	345	188	127
Capital expenditures	-12.8	-13.3	-16.6	-29.3	-40.4	-34.3	-16.9	-11.1	-19.2	-16.9
Acquisitions					-98	-12.2
Purchases of investments	-607	-3,015	-7,931	-6,128	-6,138	-4,250	-2,747	-2,467	-2,885	-4,109
Cash from investing	-74.2	-755	-480	-168	-458	-598	-451	141	-418	308
Stock issued	0	9.39	7.54	9.87	16	560	0.11	0.04	0.28	0
Share buybacks	0					-4.9	-104	-89.3	-30.6	-150
Dividends paid			-86.7		-99.8	-106	-61.1	-69.2	-203	-212
Cash from financing	4.02	9.39	-79.1	9.87	-83.8	455	-165	-158	-233	-362
Exchange rate effect			5.69	-1.9	-2.69	-7.35	24.4	-2.06	5.38	-5.76
Net change in cash	164	-366	-101	255	-34.4	402	-220	326	-458	66.9
Free cash flow	221	367	436	386	469	519	355	334	169	110
Income taxes paid	14.8	66.1	52.8	61.8	86.3	53.4	41.2	28.2	22.9	26.9

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $21.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	72.4%	Gross profit / revenue.
Operating margin	11.9%	Operating income / revenue.
EBITDA margin	13.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	23.7%	Pre-tax income / revenue.
Net margin	22.4%	Net income / revenue.
FCF margin	12.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.8%	Cash from operations / revenue.
Effective tax rate	9.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	6.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.0%	Net income / average total assets.
Return on invested capital (ROIC)	3.3%	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	16.5%	Research and development expense / revenue.
Stock-based pay / revenue	3.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.8%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-4.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-7.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-12.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.9%	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	-10.8%	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	-20.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-15.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-25.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-18.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-16.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-24.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-10.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-8.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-16.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-8.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-6.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-17.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-32.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-30.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-24.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-34.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-32.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-25.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	50.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	18.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.7%	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	4.1%	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	-2.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.1%	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	2.2%	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	-3.0%	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	-1.9%	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	-0.3%	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	6.00x	Current assets / current liabilities.
Quick ratio	5.88x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	5.44x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	14.2%	Total liabilities / total assets.
Working capital	$2.52B	Current assets - current liabilities.
Goodwill and intangibles / assets	14.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.72B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.23x	Revenue / average total assets.
Fixed asset turnover	33.4x	Revenue / average property, plant and equipment.
Receivables turnover	4.57x	Revenue / average receivables.
Days sales outstanding	80 days	365 x average receivables / revenue.
Days payables	512 days	365 x average accounts payable / cost of revenue.
FCF conversion	53.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	13.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.42	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	$0.42	Net income per basic share, as reported (split-adjusted).
Revenue per share	$1.95	Revenue / diluted weighted shares.
FCF per share	$0.23	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.27	Cash from operations / diluted weighted shares.
Book value per share	$7.12	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$5.88	Tangible book value / shares outstanding.
Cash per share	$5.94	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.79	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	102.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	192.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	136.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.46B	Share price x shares outstanding.
Enterprise value	-$294.6M	Market cap + total debt - cash - short-term investments.
P/E	11.9x	Market cap / net income. Only when net income is positive.
P/S	2.66x	Market cap / revenue.
P/B	0.75x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.90x	Market cap / tangible book value, when positive.
P/FCF	22.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	19.3x	Market cap / cash from operations, when positive.
FCF yield	4.5%	Free cash flow / market cap.
Earnings yield	8.4%	Net income / market cap (the inverse of P/E).
Dividend yield	8.6%	Dividends paid over the period / market cap.
Shareholder yield	14.7%	(Dividends paid + share buybacks) / market cap.

What was Autohome Inc.'s revenue in fiscal 2025?

Autohome Inc. reported revenue of $922.6M for fiscal 2025, 4.3% lower than the year before.

Was Autohome Inc. profitable in fiscal 2025?

Yes. Net income was $206.3M, a net margin of 22.4%.

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

Cash from operations of $127.2M minus capital expenditures of $16.9M left free cash flow of $110.3M.

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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