Logo

QFIN

Qfin Holdings, Inc.

QFIN

Qfin Holdings, Inc. • NASDAQ
$19.53 ▼ -1.01% (-0.20)
Market Cap $1.27 B
52w High $48.94
52w Low $17.61
Dividend Yield 1.45%
P/E 2.82
Volume 1.27M
Outstanding Shares 65.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.206B ▲ $1.683B ▲ $1.436B ▼ 27.584% ▼ $21.92 ▼ $2.492B ▲
Q2-2025 $4.329B ▲ $1.236B ▲ $1.734B ▼ 40.059% ▼ $26.08 ▲ $2.172B ▼
Q1-2025 $4.059B ▼ $947.32M ▼ $1.8B ▼ 44.348% ▲ $25.64 ▼ $2.22B ▲
Q4-2024 $4.482B ▲ $1.069B ▲ $1.917B ▲ 42.761% ▲ $26.8 ▲ $2.22B ▼
Q3-2024 $4.37B $684.338M $1.803B 41.254% $24.8 $2.371B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.922B ▲ $61.449B ▲ $37.147B ▲ $24.257B ▲
Q2-2025 $10.193B ▼ $59.755B ▲ $35.647B ▲ $24.058B ▲
Q1-2025 $10.619B ▲ $55.627B ▲ $32.511B ▲ $23.063B ▼
Q4-2024 $7.846B ▲ $48.133B ▲ $23.886B ▼ $24.19B ▲
Q3-2024 $7.409B $46.989B $24.089B $22.839B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.436B ▼ $2.501B ▼ $-645.552M ▲ $-448.664M ▼ $1.413B ▲ $2.501B ▼
Q2-2025 $1.734B ▼ $2.622B ▼ $-8.191B ▼ $1.996B ▼ $-3.603B ▼ $2.622B ▼
Q1-2025 $1.8B ▼ $2.806B ▼ $-3.24B ▼ $5.449B ▲ $5.009B ▲ $2.806B ▼
Q4-2024 $6.264B ▲ $3.052B ▲ $-945.611M ▲ $-1.874B ▼ $263.943M ▲ $2.898B ▲
Q3-2024 $0 $2.372B $-2.93B $-1.249B $-1.83B $2.372B

Revenue by Products

Product Q2-2022Q4-2022
Credit driven services
Credit driven services
 $5.87Bn ▲$5.72Bn ▼
Loan facilitation and servicing feescapital heavy
Loan facilitation and servicing feescapital heavy
 $0 ▲$2.08Bn ▲
Loan facilitation and servicing feescapital light
Loan facilitation and servicing feescapital light
 $660.00M ▲$3.47Bn ▲
Other services fees
Other services fees
 $20.00M ▲$260.00M ▲
Platform services
Platform services
 $2.63Bn ▲$2.33Bn ▼
Referral services
Referral services
 $110.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the past few years with a gentle upward trend, rather than explosive growth. The more striking change is on the profitability side: operating profit and net profit have both improved meaningfully, especially in the most recent year. This suggests better cost control, improved risk management, or a business mix shifting toward higher‑margin services. Profitability levels are high for a credit services business, and earnings per share have moved up sharply, helped by both higher profits and a relatively contained share count. Overall, the income statement shows a mature, profitable platform that is squeezing more earnings out of roughly similar revenue levels.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, with total assets and shareholder equity rising year after year. The company has kept debt quite low relative to its size, even though borrowings have ticked up somewhat recently. Cash balances are healthy, although lower than their past peak, indicating solid liquidity but less of an idle cash cushion than before. The combination of growing equity and modest leverage points to a conservative capital structure, giving the company room to absorb shocks and potentially invest in new initiatives without overreliance on borrowing.

Cash Flow

Cash Flow Operating cash generation is a major strength. Cash from operations has risen consistently, closely tracking and even outpacing accounting profits, which suggests earnings quality is strong and not heavily reliant on non‑cash items. Free cash flow is also robust because the business requires only light capital spending to grow. This is typical of a scalable, technology‑driven platform model. Overall, the cash flow profile looks resilient, with ample internal cash to fund operations, invest in technology, and potentially support shareholder returns, all without aggressive use of debt.

Competitive Edge

Competitive Edge QFIN (360 DigiTech / Qifu Technology) operates as a technology‑enabled credit platform rather than a traditional lender, which gives it an “asset‑light” profile. Its competitive edge comes from advanced risk models, AI‑driven credit assessment, and deep data analytics, all of which help its partner institutions lend more efficiently to consumers and small businesses. The company benefits from an ecosystem and brand connection to 360 Security Technology, giving it strong user reach and data access. Its network of financial institution partners creates scale and diversification. On the flip side, it operates in a highly competitive and tightly regulated Chinese fintech market, where shifts in regulation, credit cycles, or competitive technology could quickly change its relative position.

Innovation and R&D

Innovation and R&D Innovation is central to the company’s identity. It has built proprietary systems for risk management, customer acquisition, and loan lifecycle management, and it increasingly packages these capabilities as modular software services to other financial institutions. This moves it further into fee‑based, technology‑platform territory and away from pure balance‑sheet lending. The company has stated a clear intention to keep investing in AI, big data, and new platform services, including products tailored to underserved borrowers and to banks that want to outsource parts of their credit process. Sustained R&D spending and product launches will be important to maintain its technological edge in a fast‑moving fintech environment.

Summary

Putting it together, QFIN looks like a profitable, cash‑generative fintech platform with a conservative balance sheet and a strong technology backbone. The income statement shows stable revenue but improving margins; the balance sheet shows growing equity and low leverage; and the cash flow statement confirms that profits are backed by real cash. Its competitive strength lies in data, algorithms, and partnerships, rather than in holding large amounts of risky loans. Key opportunities revolve around deeper platform penetration, SaaS‑style risk tools, and serving underserved borrowers. Key risks center on regulatory changes in China, credit cycle swings, technological disruption, and ongoing pressure from both traditional banks and newer fintech competitors. Overall, the company appears financially solid and operationally efficient, but its future trajectory will depend heavily on how it navigates regulation and continues to innovate within a dynamic market.

NEWS

November 18, 2025 · 5:00 PM UTC

Qfin Holdings Announces Third Quarter 2025 Unaudited Financial Results

Read more

November 6, 2025 · 4:07 AM UTC

Qfin Holdings to Announce Third Quarter 2025 Unaudited Financial Results on November 18, 2025

Read more

September 25, 2025 · 3:59 AM UTC

Qfin CEO Haisheng Wu Joins UN 80th Anniversary Events to Explore Emerging Tech for Prosperity

Read more