YSG revenueFY2025CN¥4.30B
- FY YoY
- +26.7%
- 5Y CAGR
- -3.9%
YSG revenue was CN¥4.30B for fiscal 2025 (ended Dec 31, 2025), up 26.7% from fiscal 2024. Compound annual growth was -3.9% over 5 years. It rose in 4 of the last 7 fiscal years.
Yatsen Holding Limited (YSG) financials
For fiscal 2025 (ended Dec 31, 2025), Yatsen Holding Limited reported CN¥4.30B of revenue and -CN¥80.87M of net income. Figures are in CNY, the currency of its SEC filings.
- Revenue, FY2025
- CN¥4.30B
- Revenue growth, YoY
- +26.7%
- Net income, FY2025
- -CN¥80.87M
- Net margin
- -1.9%
- Free cash flow, FY2025
- -CN¥136.73M
- EPS, diluted, FY2025
- -CN¥0.04
- Cash
- CN¥765.38M
FY2018FY2025
FY2018FY2025
FY2018FY2025
YSG revenue and earnings growth
YSG net incomeFY2025-CN¥80.87M
YSG net income was -CN¥80.87M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥708.17M in fiscal 2024.
YSG EPSFY2025-CN¥0.04
YSG diluted EPS was -CN¥0.04 for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥0.35 in fiscal 2024.
YSG free cash flowFY2025-CN¥136.73M
YSG free cash flow was -CN¥136.73M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥296.41M 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¥4.30B | CN¥3.39B | CN¥3.41B | CN¥3.71B | CN¥5.84B | CN¥5.23B | CN¥3.03B | CN¥635.32M |
| Cost of revenue | CN¥936.78M | CN¥776.24M | CN¥901.46M | CN¥1.19B | CN¥1.94B | CN¥1.87B | CN¥1.10B | CN¥232.07M |
| Gross profit | CN¥3.36B | CN¥2.62B | CN¥2.51B | CN¥2.52B | CN¥3.90B | CN¥3.36B | CN¥1.93B | CN¥403.24M |
| Research and development | CN¥137.30M | CN¥109.29M | CN¥111.70M | CN¥126.88M | CN¥142.09M | CN¥66.51M | CN¥23.18M | CN¥2.64M |
| Selling, general and admin | CN¥303.63M | CN¥444.37M | CN¥500.94M | CN¥720.41M | CN¥941.35M | CN¥2.14B | CN¥209.33M | CN¥43.31M |
| Operating income | -CN¥185.79M | -CN¥824.89M | -CN¥913.36M | -CN¥928.90M | -CN¥1.62B | -CN¥2.68B | CN¥143.76M | -CN¥33.31M |
| Pre-tax income | -CN¥92.52M | -CN¥713.31M | -CN¥753.44M | -CN¥818.63M | -CN¥1.55B | -CN¥2.68B | CN¥147.34M | -CN¥36.11M |
| Income tax | -CN¥108.0K | -CN¥3.09M | -CN¥3.21M | CN¥2.71M | -CN¥921.0K | CN¥6.97M | CN¥71.98M | CN¥4.01M |
| Net income | -CN¥80.87M | -CN¥708.17M | -CN¥747.76M | -CN¥815.37M | -CN¥1.54B | -CN¥2.69B | CN¥75.36M | -CN¥40.12M |
| EPS, basic | -CN¥0.04 | -CN¥0.35 | -CN¥0.34 | -CN¥0.34 | -CN¥0.61 | -CN¥4.78 | -CN¥0.10 | -CN¥0.17 |
| EPS, diluted | -CN¥0.04 | -CN¥0.35 | -CN¥0.34 | -CN¥0.34 | -CN¥0.61 | -CN¥4.78 | -CN¥0.10 | -CN¥0.17 |
| Diluted shares | 1.86B | 2.03B | 2.20B | 2.37B | 2.53B | 833.7M | 450.5M | 271.3M |
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¥765.38M | CN¥817.39M | CN¥836.89M | CN¥1.51B | CN¥3.14B | CN¥5.73B | CN¥676.58M | - |
| Short-term investments | CN¥246.01M | CN¥539.13M | CN¥1.22B | CN¥1.07B | - | - | CN¥10.00M | - |
| Receivables | CN¥220.87M | CN¥214.56M | CN¥198.85M | CN¥200.84M | CN¥355.84M | CN¥419.32M | CN¥265.30M | - |
| Inventory | CN¥508.73M | CN¥386.05M | CN¥352.09M | CN¥423.29M | CN¥695.76M | CN¥616.81M | CN¥504.05M | - |
| Current assets | CN¥2.23B | CN¥2.35B | CN¥2.95B | CN¥3.51B | CN¥4.56B | CN¥7.09B | CN¥1.57B | - |
| Goodwill | CN¥155.03M | CN¥155.03M | CN¥556.57M | CN¥857.14M | CN¥869.42M | CN¥20.60M | CN¥20.60M | - |
| Total assets | CN¥3.85B | CN¥3.97B | CN¥5.01B | CN¥5.86B | CN¥7.27B | CN¥8.31B | CN¥2.01B | - |
| Current liabilities | CN¥615.28M | CN¥640.19M | CN¥611.33M | CN¥588.41M | CN¥877.58M | CN¥1.13B | CN¥763.34M | - |
| Total liabilities | CN¥846.34M | CN¥867.85M | CN¥821.24M | CN¥800.13M | CN¥1.26B | CN¥1.44B | CN¥936.13M | - |
| Shareholders' equity | CN¥3.01B | CN¥3.06B | CN¥4.13B | CN¥4.72B | CN¥5.67B | CN¥6.86B | -CN¥55.80M | -CN¥58.48M |
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¥94.66M | -CN¥243.67M | -CN¥107.44M | CN¥136.21M | -CN¥1.02B | -CN¥983.37M | -CN¥6.18M | -CN¥96.21M |
| Capital expenditures | CN¥42.06M | CN¥52.74M | CN¥43.65M | CN¥50.78M | CN¥141.43M | CN¥225.57M | CN¥106.34M | CN¥3.83M |
| Free cash flow | -CN¥136.73M | -CN¥296.41M | -CN¥151.09M | CN¥85.43M | -CN¥1.16B | -CN¥1.21B | -CN¥112.52M | -CN¥100.03M |
| Investing cash flow | CN¥246.79M | CN¥592.12M | -CN¥260.49M | -CN¥1.16B | -CN¥1.48B | -CN¥508.83M | -CN¥148.17M | -CN¥7.88M |
| Financing cash flow | -CN¥151.44M | -CN¥394.23M | -CN¥342.45M | -CN¥654.45M | -CN¥1.71M | CN¥6.68B | CN¥795.23M | CN¥123.68M |
| Share repurchases | CN¥111.02M | CN¥405.79M | CN¥212.69M | CN¥654.65M | CN¥15.16M | CN¥491.17M | CN¥47.26M | - |
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 | 26.7% | -0.6% | -7.9% | -36.5% | 11.6% | 72.6% | 377.1% | - |
| Gross margin | 78.2% | 77.1% | 73.6% | 68.0% | 66.8% | 64.3% | 63.6% | 63.5% |
| Operating margin | -4.3% | -24.3% | -26.7% | -25.1% | -27.8% | -51.3% | 4.7% | -5.2% |
| Net margin | -1.9% | -20.9% | -21.9% | -22.0% | -26.4% | -51.4% | 2.5% | -6.3% |
| Free cash flow margin | -3.2% | -8.7% | -4.4% | 2.3% | -19.9% | -23.1% | -3.7% | -15.7% |
| Return on equity | -2.7% | -23.2% | -18.1% | -17.3% | -27.2% | -39.2% | - | - |
| Return on assets | -2.1% | -17.8% | -14.9% | -13.9% | -21.2% | -32.4% | 3.7% | - |
| Current ratio | 3.63 | 3.67 | 4.83 | 5.96 | 5.19 | 6.27 | 2.06 | - |
Source: XBRL data Yatsen Holding Limited files with the SEC, latest filing dated Apr 29, 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.
YSG peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| YSG | CN¥4.30B | +26.7% | -CN¥80.87M | -1.9% | $184.0M |
| PG | $87.92B | +3.5% | $16.03B | 18.2% | $390.13B |
| UL | €50.50B | -3.8% | €9.47B | 18.7% | $143.50B |
| ECL | $17.37B | +9.3% | $2.08B | 12.0% | $86.03B |
| CL | $21.28B | +5.9% | $2.05B | 9.6% | $77.85B |
| EL | $15.28B | +5.8% | $368.00M | 2.4% | $41.00B |
| HLN | £11.03B | -1.8% | £1.67B | 15.1% | $39.43B |
| KVUE | $15.53B | +3.5% | $1.69B | 10.9% | $37.57B |
| CHD | $6.25B | +1.7% | $774.80M | 12.4% | $26.27B |
YSG FAQ
9 questionsWhat is YSG revenue?
Yatsen Holding Limited (YSG) reported CN¥4.30B of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 26.7% from the year before.Is YSG profitable?
No. Yatsen Holding Limited reported a net loss of CN¥80.87M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does YSG have?
Yatsen Holding Limited reported CN¥765.38M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is YSG revenue growing?
Yatsen Holding Limited's revenue changed +26.7% in fiscal 2025, to CN¥4.30B. Its compound annual growth rate was -3.9% over 5 years.What is YSG gross margin?
Yatsen Holding Limited's gross profit was CN¥3.36B on CN¥4.30B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 78.2%.What is YSG free cash flow?
Yatsen Holding Limited generated -CN¥136.73M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -CN¥94.66M less capital expenditures.What is YSG earnings per share?
Diluted earnings per share were -CN¥0.04 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did YSG last report financial results?
The latest statements here come from Yatsen Holding Limited's 20-F filed on Apr 29, 2026, covering the period ended Dec 31, 2025.Where does this YSG financial data come from?
Quantisnow builds these statements from the structured XBRL data Yatsen Holding Limited files with the SEC. It is provided for information only and is not investment advice.