Cheetah Mobile Q2 earnings call highlights key financial results and operational updates for the company. Q2 earnings highlights offer updates on performance that may influence short-term market views without major strategic shifts.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | 0.00 |
—
|
| 2019 | 0.00 |
—
|
| 2018 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 284.68 | 251.17 | 216.81 | 187.38 |
| Receivables | 56.49 | 64.89 | 66.93 | 101.65 |
| Inventory | — | — | — | — |
| Other | 147.13 | 201.76 | 178.69 | 192.36 |
| 488.30 | 517.81 | 462.43 | 481.39 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 23.97 | 30.08 | 30.27 | 60.90 |
| ST’ Debt | 0.70 | — | — | 0.43 |
| Other | 11.85 | 9.54 | 2.66 | 3.71 |
| 384.25 | 422.20 | 364.56 | 392.28 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 37.55 | 39.22 | — | — |
—
|
| ’25 | 35.69 | 41.21 | 40.37 | 47.24 |
164.51
|
| ’24 | 26.35 | 25.79 | 27.37 | 31.03 |
110.54
|
| ’23 | — | 48.68 | — | — |
94.30
|
| ’22 | — | 55.09 | — | 75.48 |
128.18
|
| ’21 | 30.29 | 32.79 | 30.44 | 29.61 |
123.12
|
| ’20 | 74.58 | 55.80 | 53.77 | 53.80 |
237.95
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | — | — | — | (24.63) |
(24.63)
|
| ’24 | — | — | — | (32.65) |
(32.65)
|
| ’23 | — | — | — | — |
77.53
|
| ’22 | — | — | — | — |
(61.51)
|
| ’21 | — | — | — | 16.13 |
16.13
|
| ’20 | — | — | — | (7.07) |
(7.07)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | — | — | — | (26.47) |
(26.47)
|
| ’24 | — | — | — | (35.29) |
(35.29)
|
| ’23 | — | — | — | — |
80.64
|
| ’22 | — | — | — | — |
(61.41)
|
| ’21 | — | — | — | 8.82 |
8.82
|
| ’20 | — | — | — | (15.74) |
(15.74)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.09) | (0.46) | — | — |
—
|
| ’25 | (0.17) | (0.12) | (0.06) | (0.90) |
(1.26)
|
| ’24 | (0.38) | (0.58) | (0.23) | (1.67) |
(2.85)
|
| ’23 | — | (1.38) | — | — |
(2.88)
|
| ’22 | — | (0.39) | — | (2.19) |
(2.62)
|
| ’21 | 0.40 | 0.00 | (0.25) | — |
(1.95)
|
| ’20 | (0.55) | 1.00 | 1.35 | 0.35 |
2.30
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 1.41 | 1.64 | 1.99 | 3.28 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 7.75 | 3.58 | 6.78 | 9.44 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 713 | 845 | 934 | 851 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.18 | 0.11 | 0.12 | 0.19 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 128.18 | 94.30 | 110.54 | 164.51 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 71.43% | 65.36% | 67.57% | 72.50% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (79.13) | (89.81) | (75.94) | (32.41) | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (61.73%) | (95.24%) | (68.70%) | (19.70%) | ‡‡‡ | ‡‡‡ | — |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (75.49) | (83.64) | (82.42) | (33.62) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.69 | 4.97 | 7.05 | 21.05 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.44 | 3.20 | 3.68 | 5.36 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | (2.62) | (2.88) | (2.85) | (1.26) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.13) | 2.63 | (1.09) | (0.80) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.00 | 0.11 | (0.09) | (0.06) | ‡‡‡ | ‡‡‡ | — |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.13) | 2.74 | (1.17) | (0.86) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.59 | 12.22 | 9.19 | 8.21 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 28.87 | 29.45 | 30.06 | 30.67 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Shares
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.09 | 0.10 | 1.25 | 1.12 | ‡‡‡ | ‡‡‡ | — |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.04 | 0.05 | 0.50 | 0.73 | ‡‡‡ | ‡‡‡ | — |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.14) | (1.24) | (0.98) | (0.17) | ‡‡‡‡ | ‡‡‡‡ | — |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.80 | 20.04 | 1.19 | 0.41 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (61.51) | 77.53 | (32.65) | (24.63) | ‡‡‡ | ‡‡‡ | — |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.11 | 3.11 | (2.64) | (1.84) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (61.41) | 80.64 | (35.29) | (26.47) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 195.03 | 104.05 | 95.61 | 97.87 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.00 | 0.70 | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (236.51) | (283.98) | (251.17) | (216.81) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 450.15 | 359.81 | 276.38 | 251.79 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.75%) | (11.04%) | (10.93%) | (5.18%) | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.57%) | (24.36%) | (148.49%) | (45.84%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (15.23%) | (20.97%) | (26.60%) | (13.95%) | — | — | — |
ROE
|
Cheetah Mobile Inc. (CMCM) has endured a dramatic fall from grace, with shares plummeting over 90% from 2016-2017 peaks above $90 amid $765 million revenue highs, driven by utility apps like Clean Master. Geopolitical tensions, U.S. regulatory scrutiny on Chinese ADRs, and revenue erosion to a $94 million trough in 2023—down 88%—have crushed valuations, compressing PS ratios to 0.10x and eroding book value by 63%. Yet, the company remains cash-rich with negative net debt, stable gross margins around 67%, and a leaner operation post-75% headcount cuts, hinting at a bottomed-out foundation.
Analyst forecasts ignite turnaround hopes: revenue rebounding 45% YoY to $160 million in 2025 and reaching $246 million by 2027 (19% CAGR), flipping net income to a positive $37 million. Uniform price targets signal a staggering 1,045% upside from recent lows, fueled by AI pivots like Cheetah Transformer amid global tailwinds. Valuation metrics scream deep value—PB at 0.50x, EV/Sales negative—positioning CMCM as a potential coiled spring if execution delivers.
Insider silence and historical rebound risks (40% falter rate) temper enthusiasm, with geopolitical overhangs looming, but probabilistic models favor asymmetric upside: 60% base case for 500% returns by 2027. This classic value trap or multibagger demands scrutiny of fundamentals versus macro shocks.
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