FINV

MKT CAP:$1B

FinVolution Group

Market Cap

$1B

Financial Services·Financial - Credit Services·🇨🇳 China·NYSE

Financials·Financial·🇨🇳·NYSE

Stock Price

$4.74-$0.48 (-9.20%)

Apr 22, 2026

Company Details

FinVolution Group operates fintech platform that connects underserved individual borrowers with financial institutions in China. It operates in online consumer finance industry. The company's platform empowered by proprietary technologies, ...

CEO

Tiezheng Li

IPO Date

Nov 9, 2017

Website

ir.finvgroup.com

Key Metrics TTM

Revenue

$2.0B

+7.1% YoY

Net Income

$361M

EPS (Diluted)

$1.36

Free Cash Flow

$288M

Revenue / Share

$7.43

Gross Margin

77.8%

Operating Margin

20.8%

Net Margin

18.3%

FCF Margin

14.6%

P/S

0.6x

P/E

3.3x

Earnings Reports

FY 2025

Dec 30, 2025

$1.9B+1.0%EPS $1.37

Q4 2025

Mar 18, 2026

$436M-13.7%EPS $0.23

Q3 2025

Nov 20, 2025

$509MEPS $0.34

Q2 2025

Aug 21, 2025

$523M+12.9%EPS $0.41

FY 2024

Apr 18, 2025

$1.9BEPS $1.32

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$209M	$164M	$64M
Q4 20	$271M	$203M	$87M
Q2 21	$348M	$282M	$103M
Q4 21	$358M	$283M	$76M
Q2 22	$390M	$312M	$96M
Q3 22	$434M	$362M	$96M
Q4 22	$446M	$370M	$90M
Q1 23	$446M	$371M	$108M
Q2 23	$449M	$374M	$84M
Q3 23	$467M	$391M	$81M
Q1 24	$462M	$384M	$92M
Q2 24	$463M	$341M	$82M
Q4 24	$505M	$399M	$115M
Q2 25	$523M	$424M	$119M
Q3 25	$509M	$399M	$107M
Q4 25	$436M	$314M	$70M

Valuation

Quarter	P/S	P/E
Q4 19	1.1x	4.3x
Q4 20	0.8x	3.8x
Q2 21	2.7x	8.1x
Q4 21	1.2x	4.5x
Q2 22	1.0x	3.9x
Q3 22	0.8x	3.4x
Q4 22	0.9x	4.4x
Q1 23	0.7x	3.3x
Q2 23	0.7x	3.6x
Q3 23	0.8x	4.0x
Q1 24	0.7x	4.0x
Q2 24	0.7x	4.0x
Q4 24	0.9x	5.2x
Q2 25	1.2x	6.6x
Q3 25	0.9x	5.0x
Q4 25	0.7x	3.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 18	$76M	$64M
Q4 19	-$413M	-$420M
Q4 20	$109M	$108M
Q2 21	$17M	$17M
Q4 21	$32M	$24M
Q2 22	-$47M	-$47M
Q3 22	$48M	$48M
Q4 22	$44M	$36M
Q1 23	$98M	$98M
Q2 23	$74M	$74M
Q3 23	$26M	$26M
Q1 24	$31M	$31M
Q2 24	$141M	$141M
Q4 24	$23M	$19M
Q2 25	$1M	$1M
Q3 25	$127M	$127M

Capital Expenditures

Quarter	CapEx
Q4 18	$12M
Q4 19	$7M
Q4 20	$2M
Q2 21	$0
Q4 21	$8M
Q2 22	$0
Q3 22	$0
Q4 22	$8M
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q1 24	$663.8K
Q2 24	$0
Q4 24	$4M
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	+113.7%	-5.9%
Q4 20	+48.6%	-34.3%
Q2 21	+165.2%	+113.9%
Q4 21	+93.8%	-5.7%
Q2 22	+86.5%	+102.0%
Q3 22	+60.4%	+83.8%
Q4 22	+27.9%	+44.9%
Q1 23	+24.6%	+19.9%
Q2 23	+15.4%	+24.4%
Q3 23	+7.6%	+14.4%
Q1 24	+3.8%	+4.3%
Q2 24	+3.8%	+13.0%
Q4 24	+12.4%	+6.7%
Q2 25	+11.9%	+4.5%
Q3 25	+10.2%	+8.6%
Q4 25	-5.9%	-4.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 18	$7M	4.0%
Q4 19	$6M	3.0%
Q4 20	$6M	2.3%
Q2 21	$0	0.0%
Q4 21	$14M	3.9%
Q2 22	$4M	0.9%
Q3 22	$3M	0.8%
Q4 22	$13M	2.9%
Q1 23	$3M	0.7%
Q2 23	$5M	1.0%
Q3 23	$4M	0.9%
Q1 24	$4M	1.0%
Q2 24	$0	0.0%
Q4 24	-$10M	-2.0%
Q2 25	$6M	1.1%
Q3 25	$6M	1.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 19	$14M	$15M	$19M
Q4 20	$16M	$23M	$31M
Q2 21	$15M	$18M	$69M
Q4 21	$19M	$23M	$57M
Q2 22	$17M	$14M	$48M
Q3 22	$18M	$15M	$78M
Q4 22	$20M	$17M	$72M
Q1 23	$18M	$12M	$58M
Q2 23	$18M	$13M	$69M
Q3 23	$19M	$14M	$77M
Q1 24	$18M	$12M	$66M
Q2 24	$17M	$15M	$69M
Q4 24	$18M	$16M	$78M
Q2 25	$19M	$16M	$89M
Q3 25	$20M	$15M	$81M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$529M	$393M	$922M
Q2 22	$625M	$133M	$758M
Q3 22	$444M	$343M	$787M
Q4 22	$531M	$501M	$1.0B
Q1 23	$743M	$390M	$1.1B
Q2 23	$690M	$507M	$1.2B
Q3 23	$833M	$413M	$1.2B
Q4 23	$726M	$433M	$1.2B
Q1 24	$908M	$340M	$1.2B
Q2 24	$834M	$355M	$1.2B
Q3 24	$746M	$565M	$1.3B
Q4 24	$683M	$414M	$1.1B
Q1 25	$790M	$446M	$1.2B
Q2 25	$774M	$379M	$1.2B
Q3 25	$4.2B	$2.8B	$7.0B
Q4 25	$906M	$441M	$1.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	311M	-0.7%	+3.7%
Q4 20	288M	-7.3%	-3.9%
Q2 21	297M	+3.3%	+32.7%
Q4 21	297M	-0.1%	-5.0%
Q2 22	294M	-1.0%	-5.3%
Q3 22	293M	-0.5%	+1.7%
Q4 22	289M	-1.2%	-2.8%
Q1 23	287M	-0.6%	-3.3%
Q2 23	285M	-0.9%	-3.1%
Q3 23	276M	-2.9%	-5.6%
Q1 24	268M	-3.0%	-7.2%
Q2 24	267M	-0.5%	-7.1%
Q4 24	261M	-2.3%	-8.5%
Q2 25	265M	+1.5%	-4.3%
Q3 25	270M	+2.0%	+0.6%
Q4 25	266M	-1.6%	-0.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	$53.8K	4K
Q4 20	$88.4K	3K
Q2 21	$113.7K	3K
Q4 21	$84.0K	4K
Q2 22	$91.5K	4K
Q3 22	$101.9K	4K
Q4 22	$107.5K	4K
Q1 23	$107.6K	4K
Q2 23	$108.4K	4K
Q3 23	$112.7K	4K
Q1 24	$126.8K	4K
Q2 24	$126.9K	4K
Q4 24	$139.4K	4K
Q2 25	$144.3K	4K
Q3 25	$140.6K	4K
Q4 25	$120.3K	4K

Revenue / Employee