QH revenueFY2025CN¥2.53B
- FY YoY
- -17.1%
- 5Y CAGR
- -0.4%
QH revenue was CN¥2.53B for fiscal 2025 (ended Dec 31, 2025), down 17.1% from fiscal 2024. Compound annual growth was -0.4% over 5 years. It rose in 3 of the last 7 fiscal years.
Financials · QH
Quhuo Limited (QH) financials
For fiscal 2025 (ended Dec 31, 2025), Quhuo Limited reported CN¥2.53B of revenue and -CN¥149.46M of net income. Figures are in CNY, the currency of its SEC filings.
- Revenue, FY2025
- CN¥2.53B
- Revenue growth, YoY
- -17.1%
- Net income, FY2025
- -CN¥149.46M
- Net margin
- -5.9%
- Free cash flow, FY2025
- -CN¥39.39M
- EPS, diluted, FY2025
- -CN¥0.11
- Cash
- CN¥38.38M
- Total debt
- CN¥296.0K
FY2018FY2025
FY2018FY2025
FY2018FY2025
QH revenue and earnings growth
QH net incomeFY2025-CN¥149.46M
QH net income was -CN¥149.46M for fiscal 2025 (ended Dec 31, 2025), compared with CN¥2.71M in fiscal 2024.
QH EPSFY2025-CN¥0.11
QH diluted EPS was -CN¥0.11 for fiscal 2025 (ended Dec 31, 2025).
QH free cash flowFY2025-CN¥39.39M
QH free cash flow was -CN¥39.39M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥15.66M in 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.53B | CN¥3.05B | CN¥3.70B | CN¥3.82B | CN¥4.03B | CN¥2.58B | CN¥2.06B | CN¥1.47B |
| Cost of revenue | CN¥2.51B | CN¥2.97B | CN¥3.54B | CN¥3.57B | CN¥3.85B | CN¥2.39B | CN¥1.89B | CN¥1.36B |
| Gross profit | CN¥12.37M | CN¥73.71M | CN¥166.61M | CN¥252.69M | CN¥175.60M | CN¥192.51M | CN¥162.28M | CN¥116.64M |
| Research and development | CN¥7.11M | CN¥10.69M | CN¥12.38M | CN¥12.54M | CN¥20.12M | CN¥13.10M | CN¥9.73M | CN¥6.70M |
| Selling, general and admin | CN¥187.78M | CN¥148.63M | CN¥184.34M | CN¥213.59M | CN¥240.75M | CN¥202.96M | CN¥161.16M | CN¥161.84M |
| Operating income | -CN¥178.07M | -CN¥10.38M | -CN¥7.79M | CN¥35.65M | -CN¥139.81M | -CN¥20.64M | -CN¥12.45M | -CN¥51.90M |
| Interest expense | CN¥4.20M | CN¥4.11M | CN¥4.88M | CN¥5.68M | CN¥7.03M | CN¥8.07M | CN¥6.09M | CN¥3.91M |
| Pre-tax income | -CN¥182.31M | -CN¥16.73M | CN¥5.08M | CN¥4.59M | -CN¥179.20M | CN¥19.82M | CN¥8.13M | -CN¥40.32M |
| Income tax | -CN¥31.80M | -CN¥18.34M | -CN¥927.0K | CN¥21.00M | CN¥12.03M | CN¥25.43M | CN¥21.58M | CN¥3.98M |
| Net income | -CN¥149.46M | CN¥2.71M | CN¥3.33M | -CN¥13.13M | -CN¥157.91M | CN¥3.43M | -CN¥11.77M | -CN¥42.61M |
| EPS, basic | -CN¥0.11 | CN¥0.01 | CN¥0.06 | -CN¥0.23 | -CN¥3.60 | CN¥0.08 | -CN¥0.79 | -CN¥2.85 |
| EPS, diluted | -CN¥0.11 | CN¥0.01 | CN¥0.06 | -CN¥0.23 | -CN¥3.60 | CN¥0.07 | -CN¥0.79 | -CN¥2.85 |
| Diluted shares | 1.39B | 416.0M | 55.5M | 56.0M | 43.9M | 48.5M | 15.0M | 15.0M |
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 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | CN¥38.38M | CN¥63.20M | CN¥46.46M | CN¥101.02M | CN¥30.91M | CN¥103.75M | CN¥126.78M | CN¥17.34M |
| Short-term investments | - | - | CN¥68.38M | CN¥64.36M | CN¥178.83M | CN¥201.58M | CN¥56.27M | - |
| Receivables | CN¥266.33M | CN¥295.71M | CN¥475.99M | CN¥495.05M | CN¥510.68M | CN¥381.25M | CN¥276.97M | - |
| Current assets | CN¥404.86M | CN¥472.88M | CN¥699.43M | CN¥719.22M | CN¥767.44M | CN¥734.98M | CN¥521.47M | - |
| Goodwill | CN¥65.48M | CN¥65.48M | CN¥65.48M | CN¥65.48M | CN¥66.75M | CN¥118.72M | CN¥26.23M | CN¥16.41M |
| Total assets | CN¥798.36M | CN¥867.03M | CN¥1.03B | CN¥1.06B | CN¥1.15B | CN¥1.13B | CN¥743.90M | - |
| Current liabilities | CN¥394.75M | CN¥337.06M | CN¥458.79M | CN¥487.94M | CN¥609.06M | CN¥466.23M | CN¥452.08M | - |
| Short-term debt | CN¥113.45M | CN¥112.85M | CN¥92.65M | CN¥65.43M | CN¥4.42M | CN¥7.84M | CN¥7.98M | - |
| Long-term debt | - | CN¥4.71M | CN¥7.53M | CN¥1.30M | CN¥3.0K | CN¥5.13M | CN¥11.94M | - |
| Total debt | CN¥296.0K | CN¥117.55M | CN¥100.19M | CN¥66.74M | CN¥4.42M | CN¥12.97M | CN¥19.92M | - |
| Total liabilities | CN¥448.76M | CN¥406.41M | CN¥526.66M | CN¥558.04M | CN¥661.94M | CN¥527.73M | CN¥489.34M | - |
| Shareholders' equity | CN¥354.76M | CN¥464.72M | CN¥505.28M | CN¥497.58M | CN¥483.44M | CN¥602.83M | -CN¥776.45M | -CN¥826.57M |
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 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -CN¥37.94M | -CN¥14.74M | -CN¥97.28M | CN¥74.72M | -CN¥30.89M | CN¥11.11M | CN¥17.62M | CN¥19.81M |
| Capital expenditures | CN¥1.45M | CN¥924.0K | CN¥142.0K | CN¥4.66M | CN¥9.33M | CN¥3.41M | CN¥17.75M | CN¥3.86M |
| Free cash flow | -CN¥39.39M | -CN¥15.66M | -CN¥97.42M | CN¥70.06M | -CN¥40.22M | CN¥7.70M | -CN¥129.0K | CN¥15.94M |
| Investing cash flow | -CN¥19.68M | CN¥934.0K | CN¥18.38M | CN¥77.21M | -CN¥110.41M | -CN¥187.08M | CN¥12.48M | -CN¥94.28M |
| Financing cash flow | CN¥32.97M | CN¥32.42M | CN¥24.22M | -CN¥82.14M | CN¥68.67M | CN¥153.09M | CN¥80.55M | CN¥82.50M |
| Stock-based compensation | CN¥3.01M | - | -CN¥495.0K | CN¥19.76M | CN¥68.93M | CN¥82.67M | CN¥64.80M | CN¥89.62M |
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 |
|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -17.1% | -17.7% | -3.1% | -5.1% | 56.0% | 25.5% | 39.4% | - |
| Net income growth, YoY | - | -18.9% | - | - | - | - | - | - |
| Gross margin | 0.5% | 2.4% | 4.5% | 6.6% | 4.4% | 7.5% | 7.9% | 7.9% |
| Operating margin | -7.0% | -0.3% | -0.2% | 0.9% | -3.5% | -0.8% | -0.6% | -3.5% |
| Net margin | -5.9% | 0.1% | 0.1% | -0.3% | -3.9% | 0.1% | -0.6% | -2.9% |
| Free cash flow margin | -1.6% | -0.5% | -2.6% | 1.8% | -1.0% | 0.3% | -0.0% | 1.1% |
| Return on equity | -42.1% | 0.6% | 0.7% | -2.6% | -32.7% | 0.6% | - | - |
| Return on assets | -18.7% | 0.3% | 0.3% | -1.2% | -13.8% | 0.3% | -1.6% | - |
| Current ratio | 1.03 | 1.40 | 1.52 | 1.47 | 1.26 | 1.58 | 1.15 | - |
| Debt to equity | 0.00 | 0.25 | 0.20 | 0.13 | 0.01 | 0.02 | - | - |
Source: XBRL data Quhuo Limited files with the SEC, latest filing dated Apr 2, 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.
QH peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| QH | CN¥2.53B | -17.1% | -CN¥149.46M | -5.9% | $7.8M |
| V | $45.90B | +14.8% | $23.50B | 51.2% | $761.17B |
| MA | $36.29B | +15.3% | $16.96B | 46.7% | $571.32B |
| BABA | CN¥1.02T | +2.7% | CN¥103.59B | 10.1% | $255.28B |
| ACN | $74.18B | +6.5% | $8.37B | 11.3% | $170.10B |
| UBER | $56.53B | +13.9% | $3.46B | 6.1% | $145.32B |
| PDD | CN¥431.85B | +9.7% | CN¥97.84B | 22.7% | $114.58B |
| DASH | $17.06B | +35.0% | $1.06B | 6.2% | $78.89B |
| MELI | $38.52B | +47.1% | $1.89B | 4.9% | $77.70B |
QH FAQ
9 questionsWhat is QH revenue?
Quhuo Limited (QH) reported CN¥2.53B of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 17.1% from the year before.Is QH profitable?
No. Quhuo Limited reported a net loss of CN¥149.46M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does QH have?
Quhuo Limited reported CN¥38.38M in cash and cash equivalents and CN¥296.0K of debt on its most recent balance sheet in SEC filings.How fast is QH revenue growing?
Quhuo Limited's revenue changed -17.1% in fiscal 2025, to CN¥2.53B. Its compound annual growth rate was -0.4% over 5 years.What is QH gross margin?
Quhuo Limited's gross profit was CN¥12.37M on CN¥2.53B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 0.5%.What is QH free cash flow?
Quhuo Limited generated -CN¥39.39M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -CN¥37.94M less capital expenditures.What is QH earnings per share?
Diluted earnings per share were -CN¥0.11 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did QH last report financial results?
The latest statements here come from Quhuo Limited's 20-F filed on Apr 2, 2026, covering the period ended Dec 31, 2025.Where does this QH financial data come from?
Quantisnow builds these statements from the structured XBRL data Quhuo Limited files with the SEC. It is provided for information only and is not investment advice.