WEIBO Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WEIBO Corp 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	656	1,150	1,719	1,767	1,690	2,257	1,836	1,760	1,755	1,757
Cost of revenue	171	231	278	329	302	404	401	374	370	422
Gross profit	485	919	1,441	1,438	1,388	1,853	1,436	1,386	1,385	1,335
Research and development	154	193	250	284	324	431	415	334	309	324
Selling and marketing	148	276	527	465	456	592	477	461	481	490
General and administrative	41.2	42.3	43.8	90.7	101	133	52.8	118	101	55.9
Operating income	141	408	609	598	507	697	480	473	494	465
Interest expense			15.4	29.9	57.4	71	71.6	120	105	82.4
Interest income	7.6	19.5	58	85.4	85.8	77.3	105	118	123	117
Other non-operating income	8.76	13.3	43.8	59.9
Pre-tax income	110	417	669	602	376	551	128	503	421	606
Income tax	4.32	66.7	96.2	110	61.3	139	30.3	145	111	145
Net income to minority interests	-2.36	-2.23	0.8	-1.84	1.23	-16.4	12.3	2.1	2.56	2.97
Net income	108	353	572	495	313	428	85.6	343	301	449
EBITDA	155	423	629	623	539	752	535	531	552	524
EPS, basic	0.50	1.60	2.56	2.19	1.38	1.87	0.36	1.45	1.27	1.88
EPS, diluted	0.48	1.56	2.52	2.18	1.38	1.86	0.36	1.43	1.16	1.70
Shares, basic (weighted)	215	221	224	225	227	0.23	0.24	236	237	239
Shares, diluted (weighted)	223	225	233	226	228	0.23	0.24	240	265	269

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	365	1,001	1,235	1,453	1,815	2,424	2,691	2,585	1,891	2,299
Short-term investments	31.2	792	591	951	1,682	711	480	641	460	106
Receivables					492	723	502	441	340	400
Other current assets	5.12	4.12	6.39	19.5	297	451	392	360	349	330
Total current assets	597	2,048	2,469	3,636	4,835	4,803	4,552	4,513	3,492	3,577
Property, plant and equipment	22.8	33.8	45.6	46.7	60.6	68.4	250	221	215	282
Lease right-of-use assets				9.73	7.18	60.5	190	170	155	154
Goodwill	10.3	13.4	29.3	29	61.7	130	120	166	162	169
Intangible assets	1.1	0.52	21.1	17.5	147	167	125	134	110	96.3
Long-term investments	400	452	695	1,027	1,179	1,208	994	1,320	1,389	1,663
Other non-current assets	5.59	13.4	14.9	37.6	44.6	1,083	898	756	982	1,149
Total assets	1,037	2,562	3,275	4,804	6,335	7,520	7,129	7,280	6,504	7,091
Accounts payable	49	64	124	126	150	198	161	161	158	249
Deferred revenue	49	81.3	100	109	144	91.1	79.9	75.2	72.6	78.3
Total current liabilities	278	485	630	801	958	2,159	1,220	1,797	968	1,056
Lease liabilities				5.29	1.51	52	55.7	42.9	32.6	28.3
Other non-current liabilities	0.82				2.1	15.1		3.42	3.07	16.6
Total liabilities	280	1,367	1,527	2,522	3,449	3,832	3,739	3,763	2,926	3,084
Total debt		957	945						2,186	2,096
Paid-in capital	980	1,030	1,072	1,134	1,202	1,477	1,446	1,429	1,505	1,552
Retained earnings	-200	153	723	1,218	1,531	1,960	2,045	2,188	2,294	2,547
Treasury stock							-57.7
Other comprehensive income	-27	9.53	-49.6	-68.6	79.5	157	-103	-218	-316	-178
Shareholders' equity	753	1,193	1,745	2,283	2,812	3,594	3,330	3,399	3,483	3,921
Minority interests	4.13	2.21	2.68	-1.45	16.2	27.6	14.5	50.2	51	54
Total equity	757	1,195	1,748	2,282	2,829	3,621	3,345	3,449	3,534	3,975
Total liabilities and equity	1,037	2,562	3,275	4,804	6,335	7,520	7,129	7,280	6,504	7,091
Shares outstanding	218	223	225	226	228	237	234	243	244	246

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	106	350	573	493	315	412	97.8	357	310	461
Depreciation and amortization	14	15.3	19.8	25.8	32.1	55	54.7	58.5	58.1	59.1
Stock-based compensation	36.9	48	41	61.3	67.1	88	112	101	69.7	42.1
Deferred income tax	-4.63	-1.5	4.44	16.8	-15.7	-12.5	-24.8	24	17.7	55.9
Change in receivables	-33.1			-115	-75.7	-274	159
Change in payables	3.79	22.1	64.3	5.16	15.2	41.8	-35.5	19.7	0.4	69.9
Cash from operations	236	539	488	632	742	814	564	673	640	519
Capital expenditures	-13.3	-20.5	-28.4	-21.7	-34.8	-35.1	-43.1	-36.8	-61.5	-42.4
Acquisitions		-2.3	-40		-214	-61.2	0.94	-243	-5.25
Purchases of investments	-314	-1,440	-1,792	-1,231	-3,170
Cash from investing	-96.7	-815	-254	-1,201	-1,214	-424	-33	-737	-247	66.6
Debt issued							880
Stock issued	4.18	2.29	0.78	0.28	0.12	188	-8.41	0	0.44	0.84
Share buybacks							-57.7
Dividends paid								-200	-194	-196
Cash from financing	3.04	884	-1.42	792	742	189	-91.1	21.7	-1,029	-227
Exchange rate effect	-15.2	28.9	1.08	-3.78	92.6	29.4	-173	-63.8	-57.6	49.5
Net change in cash	127	636	234	218	362	609	267	-106	-694	408
Free cash flow	223	519	460	610	707	779	521	636	578	477
Interest paid			11.7	11.3	65.9	37.9	64.6	111	112	75.3
Income taxes paid	3.39	8.17	70.1	80.7	-82.7	111	135	79.5	120	94.4

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $6.47 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	76.0%	Gross profit / revenue.
Operating margin	26.5%	Operating income / revenue.
EBITDA margin	29.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	34.5%	Pre-tax income / revenue.
Net margin	25.6%	Net income / revenue.
FCF margin	27.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	29.6%	Cash from operations / revenue.
Effective tax rate	23.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.6%	Net income / average total assets.
Return on invested capital (ROIC)	9.4%	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	18.5%	Research and development expense / revenue.
Stock-based pay / revenue	2.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.4%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-3.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-2.4%	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	-0.8%	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	-6.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-1.1%	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	-1.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-5.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-0.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-0.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	49.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	73.8%	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	7.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	46.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	67.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.3%	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	-18.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-2.7%	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	-6.9%	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	-17.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-2.9%	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	-7.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	12.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.6%	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	6.9%	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	9.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.2%	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	2.3%	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	1.3%	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	943.4%	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	3.4%	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	3.39x	Current assets / current liabilities.
Quick ratio	2.66x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	2.28x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.53x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	29.6%	Total debt / total assets.
Liabilities / assets	43.5%	Total liabilities / total assets.
Net debt	-$308.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.59x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.64x	Operating income / interest expense.
Working capital	$2.52B	Current assets - current liabilities.
Goodwill and intangibles / assets	3.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.66B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.26x	Revenue / average total assets.
Fixed asset turnover	7.06x	Revenue / average property, plant and equipment.
Receivables turnover	4.75x	Revenue / average receivables.
Days sales outstanding	77 days	365 x average receivables / revenue.
Days payables	176 days	365 x average accounts payable / cost of revenue.
FCF conversion	106.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	8.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.70	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	$1.88	Net income per basic share, as reported (split-adjusted).
Revenue per share	$6.54	Revenue / diluted weighted shares.
FCF per share	$1.78	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.93	Cash from operations / diluted weighted shares.
Book value per share	$15.97	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.89	Tangible book value / shares outstanding.
Cash per share	$9.79	(Cash + short-term investments) / shares outstanding.
Payout ratio	43.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	41.0%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.59B	Share price x shares outstanding.
Enterprise value	$1.28B	Market cap + total debt - cash - short-term investments.
P/E	3.54x	Market cap / net income. Only when net income is positive.
P/S	0.90x	Market cap / revenue.
P/B	0.41x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.43x	Market cap / tangible book value, when positive.
P/FCF	3.33x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.06x	Market cap / cash from operations, when positive.
EV/Sales	0.73x	Enterprise value / revenue.
EV/EBIT	2.75x	Enterprise value / operating income, when both are positive.
EV/EBITDA	2.44x	Enterprise value / EBITDA, when both are positive.
EV/FCF	2.68x	Enterprise value / free cash flow, when both are positive.
FCF yield	30.0%	Free cash flow / market cap.
Earnings yield	28.2%	Net income / market cap (the inverse of P/E).
Dividend yield	12.3%	Dividends paid over the period / market cap.
Shareholder yield	12.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.05x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was WEIBO Corp's revenue in fiscal 2025?

WEIBO Corp reported revenue of $1.76B for fiscal 2025, 0.1% higher than the year before.

Was WEIBO Corp profitable in fiscal 2025?

Yes. Net income was $449.0M, a net margin of 25.6%.

How much free cash flow did WEIBO Corp generate in fiscal 2025?

Cash from operations of $519.5M minus capital expenditures of $42.4M left free cash flow of $477.1M.

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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