IQ revenueFY2025CN¥27.29B
- FY YoY
- -6.6%
- 5Y CAGR
- -1.7%
IQ revenue was CN¥27.29B for fiscal 2025 (ended Dec 31, 2025), down 6.6% from fiscal 2024. Compound annual growth was -1.7% over 5 years. It rose in 6 of the last 9 fiscal years.
Financials · IQ
iQIYI Inc. (IQ) financials
For fiscal 2025 (ended Dec 31, 2025), iQIYI Inc. reported CN¥27.29B of revenue and -CN¥206.31M of net income. Figures are in CNY, the currency of its SEC filings.
- Revenue, FY2025
- CN¥27.29B
- Revenue growth, YoY
- -6.6%
- Net income, FY2025
- -CN¥206.31M
- Net margin
- -0.8%
- Free cash flow, FY2025
- CN¥9.99M
- Cash
- CN¥4.35B
- Total debt
- CN¥8.91B
FY2016FY2025
FY2016FY2025
FY2016FY2025
IQ revenue and earnings growth
IQ net incomeFY2025-CN¥206.31M
IQ net income was -CN¥206.31M for fiscal 2025 (ended Dec 31, 2025), compared with CN¥764.06M in fiscal 2024.
IQ free cash flowFY2025CN¥9.99M
- FY YoY
- -99.5%
IQ free cash flow was CN¥9.99M for fiscal 2025 (ended Dec 31, 2025), down 99.5% from fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥27.29B | CN¥29.23B | CN¥31.87B | CN¥29.00B | CN¥30.55B | CN¥29.71B | CN¥28.99B | CN¥24.99B | CN¥17.38B | CN¥11.24B |
| Cost of revenue | CN¥21.54B | CN¥21.95B | CN¥23.10B | CN¥22.32B | CN¥27.51B | CN¥27.88B | CN¥30.35B | CN¥27.13B | CN¥17.39B | CN¥11.44B |
| Gross profit | CN¥5.75B | CN¥7.27B | CN¥8.77B | CN¥6.68B | CN¥3.04B | CN¥1.82B | -CN¥1.35B | -CN¥2.14B | -CN¥8.21M | -CN¥199.19M |
| Research and development | CN¥1.66B | CN¥1.78B | CN¥1.77B | CN¥1.90B | CN¥2.79B | CN¥2.68B | CN¥2.67B | CN¥1.99B | CN¥1.27B | CN¥824.48M |
| Selling, general and admin | CN¥3.86B | CN¥3.68B | CN¥4.01B | CN¥3.47B | CN¥4.73B | CN¥5.19B | CN¥5.24B | CN¥4.17B | CN¥2.67B | CN¥1.77B |
| Operating income | CN¥229.31M | CN¥1.81B | CN¥2.99B | CN¥1.31B | -CN¥4.48B | -CN¥6.04B | -CN¥9.26B | -CN¥8.31B | -CN¥3.95B | -CN¥2.79B |
| Interest expense | CN¥909.62M | CN¥1.06B | CN¥1.13B | CN¥715.08M | CN¥1.35B | CN¥1.07B | CN¥914.37M | CN¥94.71M | CN¥277.58M | CN¥110.48M |
| Pre-tax income | -CN¥59.50M | CN¥851.68M | CN¥2.03B | -CN¥33.78M | -CN¥6.01B | -CN¥6.98B | -CN¥10.22B | -CN¥8.98B | -CN¥3.74B | -CN¥3.06B |
| Income tax | CN¥144.54M | CN¥61.09M | CN¥80.05M | CN¥84.00M | CN¥96.55M | CN¥23.28M | CN¥51.85M | CN¥78.80M | -CN¥7.57M | CN¥13.09M |
| Net income | -CN¥206.31M | CN¥764.06M | CN¥1.93B | -CN¥136.21M | -CN¥6.17B | -CN¥7.04B | -CN¥10.32B | -CN¥9.11B | -CN¥3.74B | -CN¥3.07B |
| EPS, basic | - | - | - | - | - | - | - | - | CN¥0.30 | -CN¥23.20 |
| EPS, diluted | - | - | - | - | - | - | - | - | -CN¥1.15 | -CN¥23.20 |
| Diluted shares | - | - | - | - | - | - | - | - | 3.24B | 342.5M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | CN¥4.35B | CN¥3.53B | CN¥4.43B | CN¥7.10B | CN¥3.00B | CN¥10.92B | CN¥5.93B | CN¥4.59B | CN¥733.01M | - |
| Short-term investments | CN¥314.82M | CN¥941.61M | CN¥941.74M | CN¥818.26M | CN¥1.35B | CN¥3.36B | CN¥4.58B | CN¥6.06B | CN¥779.92M | - |
| Receivables | CN¥2.52B | CN¥2.19B | CN¥2.17B | CN¥2.40B | CN¥2.75B | CN¥3.34B | CN¥3.63B | CN¥2.89B | CN¥2.24B | - |
| Current assets | CN¥10.29B | CN¥9.53B | CN¥12.64B | CN¥13.79B | CN¥11.52B | CN¥22.29B | CN¥20.27B | CN¥19.85B | CN¥5.70B | - |
| Goodwill | CN¥3.82B | CN¥3.82B | CN¥3.82B | CN¥3.83B | CN¥3.89B | CN¥3.89B | CN¥3.89B | CN¥3.89B | CN¥3.28B | - |
| Total assets | CN¥46.68B | CN¥45.76B | CN¥44.59B | CN¥46.05B | CN¥42.47B | CN¥48.19B | CN¥44.79B | CN¥44.76B | CN¥20.20B | - |
| Current liabilities | CN¥22.07B | CN¥21.48B | CN¥22.34B | CN¥28.13B | CN¥22.48B | CN¥24.85B | CN¥20.17B | CN¥19.81B | CN¥11.63B | - |
| Short-term debt | CN¥738.39M | CN¥167.99M | CN¥2.00M | CN¥3.35B | CN¥4.12B | CN¥2.97B | CN¥2.62B | CN¥3.05B | CN¥299.37M | - |
| Long-term debt | CN¥8.17B | CN¥8.59B | CN¥10.95B | CN¥17.87B | CN¥12.65B | CN¥16.68B | CN¥12.30B | CN¥4.71B | CN¥0 | - |
| Total debt | CN¥8.91B | CN¥8.76B | CN¥10.95B | CN¥21.22B | CN¥16.77B | CN¥19.64B | CN¥14.92B | CN¥7.76B | CN¥299.37M | - |
| Total liabilities | CN¥33.37B | CN¥32.39B | CN¥32.41B | CN¥39.70B | CN¥36.80B | CN¥38.74B | CN¥35.08B | CN¥26.60B | CN¥11.92B | - |
| Shareholders' equity | CN¥13.31B | CN¥13.37B | CN¥12.18B | CN¥6.34B | CN¥5.28B | CN¥9.34B | CN¥9.61B | CN¥18.16B | -CN¥14.32B | -CN¥15.30B |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | CN¥105.80M | CN¥2.11B | CN¥3.35B | -CN¥70.57M | -CN¥5.95B | -CN¥5.41B | CN¥3.91B | CN¥2.88B | CN¥4.01B | CN¥2.61B |
| Capital expenditures | CN¥95.81M | CN¥79.32M | CN¥36.97M | CN¥174.26M | CN¥261.54M | CN¥240.75M | CN¥740.16M | CN¥611.91M | CN¥1.02B | CN¥399.88M |
| Free cash flow | CN¥9.99M | CN¥2.03B | CN¥3.31B | -CN¥244.83M | -CN¥6.21B | -CN¥5.65B | CN¥3.17B | CN¥2.27B | CN¥2.99B | CN¥2.21B |
| Investing cash flow | -CN¥327.44M | -CN¥2.44B | -CN¥1.74B | CN¥265.98M | CN¥1.26B | CN¥159.30M | -CN¥11.75B | -CN¥20.95B | -CN¥10.66B | -CN¥6.66B |
| Financing cash flow | CN¥1.06B | -CN¥1.37B | -CN¥4.29B | CN¥4.47B | -CN¥2.96B | CN¥9.37B | CN¥7.88B | CN¥23.47B | CN¥6.56B | CN¥3.41B |
| Stock-based compensation | CN¥403.43M | CN¥544.39M | CN¥636.73M | CN¥811.44M | CN¥1.22B | CN¥1.37B | CN¥1.08B | CN¥556.21M | CN¥233.42M | CN¥62.39M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -6.6% | -8.3% | 9.9% | -5.1% | 2.9% | 2.5% | 16.0% | 43.8% | 54.6% | - |
| Net income growth, YoY | - | -60.3% | - | - | - | - | - | - | - | - |
| Gross margin | 21.1% | 24.9% | 27.5% | 23.0% | 10.0% | 6.1% | -4.7% | -8.6% | -0.0% | -1.8% |
| Operating margin | 0.8% | 6.2% | 9.4% | 4.5% | -14.7% | -20.3% | -31.9% | -33.2% | -22.7% | -24.8% |
| Net margin | -0.8% | 2.6% | 6.0% | -0.5% | -20.2% | -23.7% | -35.6% | -36.5% | -21.5% | -27.4% |
| Free cash flow margin | 0.0% | 6.9% | 10.4% | -0.8% | -20.3% | -19.0% | 10.9% | 9.1% | 17.2% | 19.7% |
| Return on equity | -1.6% | 5.7% | 15.8% | -2.1% | -116.9% | -75.4% | -107.4% | -50.2% | - | - |
| Return on assets | -0.4% | 1.7% | 4.3% | -0.3% | -14.5% | -14.6% | -23.0% | -20.4% | -18.5% | - |
| Current ratio | 0.47 | 0.44 | 0.57 | 0.49 | 0.51 | 0.90 | 1.00 | 1.00 | 0.49 | - |
| Debt to equity | 0.67 | 0.66 | 0.90 | 3.35 | 3.18 | 2.10 | 1.55 | 0.43 | - | - |
Source: XBRL data iQIYI Inc. files with the SEC, latest filing dated Mar 16, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
IQ peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| IQ | CN¥27.29B | -6.6% | -CN¥206.31M | -0.8% | $923.4M |
| NFLX | $49.73B | +14.7% | $14.77B | 29.7% | $260.40B |
| BBY | $42.20B | +1.4% | $1.27B | 3.0% | $20.89B |
| CNVS | $85.21M | +6.3% | -$10.43M | -12.2% | $40.5M |
| IZM | $187.05M | +5.1% | $1.19M | 0.6% | $1.6M |
IQ FAQ
8 questionsWhat is IQ revenue?
iQIYI Inc. (IQ) reported CN¥27.29B of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 6.6% from the year before.Is IQ profitable?
No. iQIYI Inc. reported a net loss of CN¥206.31M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does IQ have?
iQIYI Inc. reported CN¥4.35B in cash and cash equivalents and CN¥8.91B of debt on its most recent balance sheet in SEC filings.How fast is IQ revenue growing?
iQIYI Inc.'s revenue changed -6.6% in fiscal 2025, to CN¥27.29B. Its compound annual growth rate was -1.7% over 5 years.What is IQ gross margin?
iQIYI Inc.'s gross profit was CN¥5.75B on CN¥27.29B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 21.1%.What is IQ free cash flow?
iQIYI Inc. generated CN¥9.99M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of CN¥105.80M less capital expenditures.When did IQ last report financial results?
The latest statements here come from iQIYI Inc.'s 20-F filed on Mar 16, 2026, covering the period ended Dec 31, 2025.Where does this IQ financial data come from?
Quantisnow builds these statements from the structured XBRL data iQIYI Inc. files with the SEC. It is provided for information only and is not investment advice.