PerpEquities

Meitu, Inc. (MEITU) financials

HKSE · Technology · Software - Application · 2,103 employees · CEO Xin Hong Wu

Price
HK$3.87 +2.65%
Market cap
HK$17.5B
Enterprise value
CN¥15B
Last report
Q2 '26 filed 2026-06-30
Next report
2027-04-01
Revenue (TTM)CN¥4.25B+20.0% vs a year agoLast 2 half-years; bars = each half-year
Operating margin (TTM)12.1%-5.7 pp vs a year agoOperating income CN¥513M
Net income (TTM)CN¥802M-10.7% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)CN¥1.38B+43.9% vs a year agoCapex CN¥32.3M
Diluted EPS (TTM)CN¥0.17-12.3% vs a year agoSum of the last 2 half-years
Net cashCN¥2.57B+7.0% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
HK$17.5B
EV CN¥15B
Revenue
CN¥4.25B
Trailing 12 months
Revenue growth
+26%
FY2026 consensus
Profit margin
18.9%
Net income / revenue, TTM
P/E
18.2×
P/S
3.5×
Price / sales, TTM
EV / EBITDA
26.9×
TTM
Free cash flow
CN¥1.38B
Trailing 12 months
Net income
CN¥802M
Trailing 12 months
Revenue estimate
CN¥4.88B
FY2026 consensus
Earnings
2027-04-01
Dividend
HK$0.10
Per share, last 12 months

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

  • Revenue growth accelerating: 21.5% year on yearQ2 '26 revenue CN¥2.21B, against an average of 19.8% over the four half-years before.
  • Operating margin 12.1% (TTM), -5.7 pp on a year agoOperating income grew -18.5% while revenue grew 20.0%.
  • 58.5% of pre-tax profit is non-operatingPre-tax income CN¥1.23B vs operating income CN¥513M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 0.8% of revenue (a year ago 0.7%)CN¥32.3M invested in the last 2 half-years (+26.9% on a year earlier). Free cash flow CN¥1.38B = 171.8% of net income.
  • Returned CN¥812M to shareholders = 58.9% of free cash flowBuybacks CN¥425M (a year earlier CN¥153K), dividends CN¥388M, stock-based pay CN¥65.6M (TTM).
  • Diluted share count up 0.0% in a year4.56B diluted shares in Q2 '26, 4.56B a year earlier.
  • Net cash CN¥2.57BCash + short-term investments CN¥4.09B, debt incl. leases CN¥1.52B; a year ago net cash CN¥2.4B.

Last quarter: Q2 '26

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q2 '26Year agoChange
RevenueCN¥2.21BCN¥1.82B+21.5%
Gross margin71.5%73.6%-2.1 pp
Operating incomeCN¥558MCN¥376M+48.4%
Operating margin25.2%20.6%+4.6 pp
Net incomeCN¥619MCN¥397M+56.0%
Diluted EPSCN¥0.13CN¥0.08+55.9%
Operating cash flowCN¥679MCN¥504M+34.8%
CapexCN¥15.7MCN¥7.52M+109.4%
Free cash flowCN¥590MCN¥496M+18.9%
R&DCN¥467MCN¥451M+3.4%
Stock-based compensationCN¥65.6MCN¥57.4M+14.2%

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 2 half-years

cash flow statement
Operating cash flow
CN¥1.48B
Capex
-CN¥32.3M
Buybacks
-CN¥425M
Dividends
-CN¥388M
Acquisitions
CN¥2.19M
Net debt issued
CN¥38.3M
Stock-based compensation
CN¥65.6M
Free cash flow
CN¥1.38B
Returned to shareholders / FCF
58.9%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years
Now5y averageWhere today sits in the 5-year range
P/E (TTM)18.2×37.4× 4 of 5 years15.5× – 56.3×
EV / EBITDA26.9×38.8× 3 of 5 years19.9× – 55.5×
EV / Sales3.5×3.9×2.1× – 5.8×
Price / FCF10.8×27.0× 4 of 5 years17.9× – 40.8×
Price / Book2.5×2.7×1.4× – 4.3×
FCF yield9.3%3.1%-1.1% – 5.6%
Return on invested capital5.0%3.6%-0.2% – 8.8%
Return on equity13.9%7.3%-1.3% – 16.0%

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2026CN¥4.88B+26.4%CN¥0.29+94.2%–9
FY2027CN¥5.88B+20.6%CN¥0.35+20.1%–9
FY2028CN¥7.03B+19.5%CN¥0.44+24.9%–4

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in HKD.