Saturday 17 October 2026
Export NCTY’s income statement to Excel — free account
The9 Limited
NCTY Financial Capital Markets
The9 Limited’s revenue for fiscal 2025 (year ended December 2025) was $15.4 million, up 0.81% from fiscal 2024. In the quarter to June 2026, revenue fell 90.9% and EPS grew 107.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
3.34
0.05
−1.47%
Follow NCTY
| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
3 | 3 | 5 | 1 | 4 | 6 | 2 | 2 | 6 | 3 |
P/S ratio |
0.56 | 1.29 | 0.69 | 0.43 | 7.32 | 258.18 | 66.97 | 0.00 | 0.88 | 1.78 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/Operating CF |
(0.28) | (0.64) | (0.34) | (0.25) | (2.30) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/B ratio |
0.34 | 0.93 | 0.00 | 2.54 | 1.27 | 0.00 | 0.00 | 0.00 | 0.20 | 0.40 |
Price to Tangible BV |
0.35 | 1.16 | 0.00 | 0.00 | 1.37 | 0.00 | 0.00 | 0.00 | 0.41 | 0.82 |
EV/Sales |
0.01 | 1.23 | 0.95 | 0.24 | 4.23 | 230.31 | 81.27 | 5.95 | (2.38) | (1.48) |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.43 | 0.27 |
EV/Operating CF |
0.00 | (0.18) | (0.14) | (0.04) | (0.39) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/FCF |
0.00 | (0.16) | (0.13) | (0.04) | (0.36) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Quick Ratio |
0.93 | 1.00 | 0.39 | 0.12 | 0.80 | 0.09 | 0.01 | 0.01 | 0.18 | 0.08 |
Current Ratio |
1.00 | 1.19 | 1.37 | 0.70 | 1.93 | 0.12 | 0.15 | 0.04 | 0.22 | 0.15 |
Net Debt/EBITDA |
0.33 | (2.20) | (0.02) | (0.01) | 2.24 | (0.07) | (4.18) | (545.51) | 1.16 | (1.33) |
Debt/Assets |
37.50% | 20.76% | 18.33% | 11.41% | 7.28% | 12.88% | 296.43% | 296.15% | 33.66% | 96.88% |
Debt/Equity |
1.31 | 0.41 | 0.37 | 2.48 | 0.13 | (0.01) | (0.44) | (0.45) | (0.14) | (0.48) |
Asset Turnover |
0.18 | 0.22 | 0.37 | 0.12 | 0.20 | 0.01 | 0.00 | 0.07 | 0.22 | 0.12 |
Operating CF/Net income |
0.08 | 0.60 | (2.32) | 0.16 | 1.67 | (0.27) | 0.28 | 0.39 | 0.49 | 0.27 |
Capex/Depreciation |
(0.16) | (0.10) | (0.02) | (2.21) | (0.48) | (0.05) | 0.05 | 0.00 | 0.00 | (0.12) |
Interest Coverage |
(12.08) | (1.72) | (10.14) | (41.43) | (1.34) | 42.52 | (2.36) | (0.49) | (0.69) | (2.56) |
| (167.31%) | (28.72%) | 19.08% | (228.35%) | (736.96%) | (43.54%) | 16.36% | 26.70% | 24.01% | 140.91% | |
| (66.87%) | (14.53%) | 4.08% | (96.65%) | (60.58%) | 363.08% | (109.49%) | (101.95%) | (53.78%) | (145.89%) | |
ROIC |
(214.84%) | (14.56%) | (107.47%) | (1,628.06%) | (46.08%) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Return on Tangible Assets |
(943.89%) | (134.41%) | 12.97% | 4,123.74% | (60.55%) | (123.55%) | 21.12% | 30.07% | 28.47% | 147.44% |
Average Days of Receivables |
34.04 | 0.00 | 0.11 | 21.97 | 9.89 | 1.90 | 118.20 | 12.41 | 13.01 | 55.90 |
Research and Development Expense of Revenue |
9.08% | 0.76% | 1.10% | 2.05% | 1.41% | 389.68% | 3,829.53% | 140.86% | 61.67% | 138.78% |
Selling, General and Administrative Expense of Revenue |
222.22% | 141.50% | 114.38% | 416.33% | 231.97% | 17,482.17% | 33,930.14% | 527.24% | 161.20% | 267.50% |
Intangible Assets out of Total Assets |
0.03 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.38 | 0.20 | 0.19 |
Share Based Compensation of Revenue |
107.56% | 39.99% | 39.52% | 170.20% | 110.52% | 8,798.54% | 6,363.14% | 22.36% | 51.99% | 49.91% |
Graham Net Nets |
0.42 | (0.27) | (2.29) | (1.51) | 0.51 | (1.38) | (0.37) | 0.00 | 0.56 | 0.28 |
Graham Number |
14.30 | 0.00 | 0.00 | 0.00 | 0.00 | 115.33 | 643.36 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(4.87%) | (2.13%) | (3.99%) | (5.69%) | (13.03%) | (38.64%) | (658.38%) | (1,118.55%) | (619.41%) | (307.23%) |
Free Cash Flow Yield |
(1,329.60%) | (582.50%) | (1,091.43%) | (1,505.02%) | (161.20%) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Revenue per Share |
2.04 | 3.27 | 7.48 | 7.18 | 12.91 | 0.18 | 0.05 | 12.24 | 100.92 | 101.69 |
Operating CF per Share |
(0.60) | (1.29) | (1.94) | (9.34) | (65.36) | (29.86) | (7.31) | (71.07) | (119.55) | (327.48) |
Capex per Share |
(0.05) | (0.26) | (0.09) | (15.29) | (7.63) | (0.05) | 0.25 | (0.10) | (0.22) | (15.08) |
Free Cash Flow per Share |
(0.65) | (1.55) | (2.02) | (24.64) | (72.99) | (29.91) | (7.06) | (71.17) | (119.78) | (342.56) |
Cash per Share |
5.86 | 6.00 | 2.64 | 3.51 | 40.80 | 8.91 | 1.37 | 2.99 | 196.78 | 70.35 |
Shareholders Equity per Share |
3.20 | 9.52 | 7.58 | 1.66 | 72.56 | (187.58) | (166.29) | (761.85) | (1,106.99) | (1,270.31) |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
3.20 | 9.52 | 7.58 | 1.66 | 72.56 | (187.58) | (166.29) | (761.85) | (1,106.99) | (1,270.31) |
Free Cash Flow |
(4.95) | (7.27) | (6.82) | (59.15) | (120.51) | (16.31) | (7.52) | (14.74) | (13.34) | (27.27) |
Working Capital |
(0.13) | 5.22 | 8.44 | (24.14) | 79.44 | (49.36) | (129.80) | (127.32) | (97.80) | (69.96) |
Capital Expenditures |
(0.41) | (1.21) | (0.30) | (36.72) | (12.60) | (0.03) | 0.27 | (0.02) | (0.02) | (1.20) |
Net Current Asset Value |
(11.65) | (9.33) | 5.69 | (25.21) | 79.03 | (103.23) | (180.83) | (176.93) | (144.84) | (138.98) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.43 | 0.27 |
Capex to Sales |
0.03 | 0.08 | 0.01 | 2.13 | 0.59 | 0.28 | (5.42) | 0.01 | 0.00 | 0.15 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.41 | 5.55 | 1.20 | 0.80 | 0.97 | 3.45 | 30.68 | 5.99 | 4.06 | 2.61 |
Cash ROIC |
(4.92%) | (8.02%) | (15.57%) | (265.04%) | (59.62%) | 16.91% | 7.65% | 17.10% | 15.76% | 58.57% |
Accounts Receivable Turnover |
21.33 | 0.00 | 48.26 | 21.34 | 73.74 | 11.70 | 0.96 | 10.41 | 13.71 | 6.91 |
Accounts Payable Turnover |
8.57 | 14.71 | 2.35 | 1.77 | 2.36 | 0.02 | 0.04 | 0.43 | 0.66 | 1.19 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.08) | (0.92) | 31.31 | 47.87 | 0.00 |
Average Days of Payables |
66.94 | 17.82 | 16.54 | 328.08 | 165.41 | 15,955.59 | 10,396.63 | 844.68 | 569.86 | 278.64 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
0.72 | — | 0.52 | 0.81 | 0.29 | 0.01 | 0.05 | 0.24 | 0.82 | 1.17 |
Average Payables |
1.77 | 1.06 | 12.71 | 15.16 | 5.86 | 5.47 | 5.51 | 5.62 | 5.52 | 5.85 |
Average Inventory |
— | — | — | — | — | (1.52) | (0.21) | 0.08 | 0.08 | — |
Average Assets |
86.06 | 69.22 | 69.05 | 146.24 | 106.52 | 16.74 | 25.01 | 36.81 | 50.10 | 66.80 |
Average Common Equity |
34.40 | 35.02 | 14.77 | 61.90 | 8.76 | (139.62) | (167.37) | (140.55) | (112.22) | (69.17) |
Columns are period end dates