Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Phoenix New Media Ltd 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
FY2011
FY2012
FY2013
FY2014
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
Revenue
151
178
235
264
248
208
242
200
220
185
Cost of revenue
88.1
101
115
126
128
105
112
86.8
110
85.7
Gross profit
62.9
77
120
138
120
103
130
114
110
99.5
Research and development
11
14.7
18
24.2
26.4
23.3
29.6
29.8
34.9
26.4
Selling and marketing
26.1
31.6
45.2
53.3
53.4
48.9
75.9
78.2
88.5
42.8
General and administrative
12.2
17.1
16.2
22.2
28.4
26.2
22.6
23.6
39
42.6
Operating expenses
49.3
63.4
79.3
99.7
108
98.3
128
132
153
115
Operating income
13.6
13.6
41
38.3
12.2
5.09
2.3
-18
-43.9
-15.7
Interest expense
1.02
3.42
1.97
0.73
Interest income
6.9
4.08
5.43
Other non-operating income
0.46
0.79
2.47
3.43
4.52
3.03
2.99
3.18
2.99
5.5
Pre-tax income
18.7
20
52.1
50
15.1
13.3
7.56
-6.62
107
68.4
Income tax
2.41
2.73
6.21
7.8
3.94
2.03
2.27
2.92
2.91
2.91
Income from continuing operations
64.1
Net income to minority interests
-0.25
-0.16
-0.19
-0.34
-0.47
-0.35
-0.55
-2.31
Net income
16.3
17.2
46.2
42.4
11.4
11.6
5.76
-9.2
105
58.3
EBITDA
15.6
17
46.2
44.2
19.2
11.1
7.78
-13.3
-32.8
-9.75
EPS, basic
-0.21
EPS, diluted
-0.21
Shares, basic (weighted)
519
Shares, diluted (weighted)
519
Balance sheet
FY2011
FY2012
FY2013
FY2014
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
Cash and equivalents
63.7
151
136
199
44.7
29.2
55.8
25
47.6
54.8
Receivables
32.1
45.1
58.4
79.5
78.2
58.3
70.5
70.4
91.7
104
Other current assets
7.36
6.83
4.61
6.88
9.04
9.23
8.83
12.9
23.4
6.57
Total current assets
239
250
321
332
298
306
345
294
367
371
Property, plant and equipment
6.52
16.5
15.7
14.5
12.4
10.4
9.91
13.9
14.6
9.6
Lease right-of-use assets
12.3
7.58
Goodwill
49.2
51.9
Intangible assets
0.86
1.52
1.31
2.4
1.92
1.37
1.03
14.2
14.3
1.9
Long-term investments
285
289
5.62
Other non-current assets
1.93
2.1
2.09
2.15
2.74
2.31
1.93
3.41
2.85
1.5
Total assets
249
270
340
375
396
456
553
674
765
425
Accounts payable
19.2
24.8
36.1
43.8
44.6
37.6
40.4
38.5
37.3
33.9
Accrued liabilities
6.24
6.54
10.3
13.9
12.5
16
26.6
33.1
42.2
26.4
Deferred revenue
7.94
8.03
5.95
Total current liabilities
40.1
49.3
77.6
95.4
115
142
165
156
216
163
Lease liabilities
7.17
2.56
Total liabilities
40.9
50.5
79.6
98.3
118
145
169
180
256
170
Paid-in capital
291
287
287
256
239
224
244
233
231
248
Retained earnings
-88.3
-73.2
-32.1
8.52
18.8
28.1
35.2
23.2
26.8
-13.5
Treasury stock
-0.02
0
-2.16
0
Other comprehensive income
-5.56
-5.93
-9.93
-2.47
3.6
43
87.6
173
202
-4.32
Shareholders' equity
208
260
277
279
312
385
448
479
251
Minority interests
0.64
0
-0.15
-0.48
-0.98
45.2
30.6
4.33
Total equity
208
219
260
277
279
311
384
493
509
255
Total liabilities and equity
249
270
340
375
396
456
553
674
765
425
Cash flow statement
FY2011
FY2012
FY2013
FY2014
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
Net income
16.3
17.2
45.9
42.2
11.2
11.3
5.29
-9.54
104
56
Depreciation and amortization
1.95
3.39
5.2
5.85
7.02
6.04
5.47
4.72
11.1
5.97
Stock-based compensation
10.5
1.09
2.76
8.57
5.3
0.27
3.2
2.03
2.91
1.44
Deferred income tax
-1.8
-0.9
-0.87
-0.52
-1.76
-2.64
-0.95
0.04
-0.43
-2.02
Change in receivables
-21.8
-16.8
-12.4
-29.2
-9.23
7.97
-6.85
-4.36
-11.4
-23
Change in payables
10.6
Cash from operations
10.3
17.6
57.5
44.1
34.1
29.3
26.6
-11.2
-47.4
-15.8
Capital expenditures
-5.32
-12.8
-4.83
-5.7
-6.71
-4.22
-4.27
-8.14
-12
-1.85
Acquisitions
-9.03
17.4
Purchases of investments
-248
Sales and maturities of investments
202
107
Cash from investing
-128
75.6
18.4
63.4
-194
-78.2
-0.98
-16.7
210
114
Stock issued
0.03
0.17
0.09
1.41
1.07
0.35
1.9
0.54
0.07
Share buybacks
-8.47
-10.8
-39.1
-10.3
0
Dividends paid
-101
-98.9
Cash from financing
137
-9.65
-10.7
-36.1
9.94
31.3
-2.5
-11
-160
-98
Exchange rate effect
-2.32
-0.24
-0.47
-0.35
-0.54
2.07
-1.24
1.67
-5.06
-5.91
Net change in cash
17.5
83.3
64.7
71
-151
-15.6
21.9
-37.2
-2.83
-5.38
Free cash flow
4.95
4.82
52.6
38.4
27.4
25.1
22.3
-19.3
-59.5
-17.7
Interest paid
3.5
2.21
0.58
0.17
Income taxes paid
2.15
2.56
3.24
5.28
5.56
6.68
2.99
1.55
0.16
0.26
Key metrics
Worked out from the statements above. Latest values use fiscal 2020. Valuation uses the share price of $1.43 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
53.7%
Gross profit / revenue.
Operating margin
-8.5%
Operating income / revenue.
EBITDA margin
-5.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
36.9%
Pre-tax income / revenue.
Net margin
31.5%
Net income / revenue.
FCF margin
-9.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-8.5%
Cash from operations / revenue.
Effective tax rate
4.2%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
16.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
9.8%
Net income / average total assets.
Return on invested capital (ROIC)
-4.8%
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
14.2%
Research and development expense / revenue.
Stock-based pay / revenue
0.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.0%
Capital expenditures / revenue.
D&A / revenue
3.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-15.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-8.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-5.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-9.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-8.6%
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
-3.7%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
-44.2%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
116.3%
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
38.7%
Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-47.6%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-13.4%
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
-2.1%
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
-44.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-8.4%
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
1.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.28x
Current assets / current liabilities.
Quick ratio
0.97x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.34x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
Payout ratio
169.6%
Dividends paid / net income, when net income is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$17.2M
Share price x shares outstanding.
Enterprise value
-$37.7M
Market cap + total debt - cash - short-term investments.
P/E
0.29x
Market cap / net income. Only when net income is positive.
P/S
0.09x
Market cap / revenue.
P/B
0.07x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.07x
Market cap / tangible book value, when positive.
FCF yield
-102.8%
Free cash flow / market cap.
Earnings yield
339.4%
Net income / market cap (the inverse of P/E).
Dividend yield
575.8%
Dividends paid over the period / market cap.
Shareholder yield
575.8%
(Dividends paid + share buybacks) / market cap.
What was Phoenix New Media Ltd's revenue in fiscal 2020?
Phoenix New Media Ltd reported revenue of $185.3M for fiscal 2020, 15.8% lower than the year before.
Was Phoenix New Media Ltd profitable in fiscal 2020?
Yes. Net income was $58.3M, a net margin of 31.5%.
How much free cash flow did Phoenix New Media Ltd generate in fiscal 2020?
Cash from operations of $15.8M minus capital expenditures of $1.9M left free cash flow of -$17.7M.
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.