Comprehensive Stock Comparison
Compare The Arena Group Holdings, Inc. (AREN) vs 36Kr Holdings Inc. (KRKR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | AREN | -12.3% revenue growth vs KRKR's -32.1% |
| Value | KRKR | Lower P/E (0.1x vs 3.5x) |
| Quality / Margins | AREN | 88.5% net margin vs KRKR's -26.6% |
| Stability / Safety | KRKR | Beta 0.76 vs AREN's 0.87 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | AREN | +79.5% vs KRKR's -21.0% |
| Efficiency (ROA) | AREN | 104.2% ROA vs KRKR's -19.7%, ROIC 22.6% vs -30.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
The Arena Group Holdings operates a digital media platform that publishes and distributes content across sports, lifestyle, and news verticals. It generates revenue primarily through digital advertising — including display, video, and native ads — supplemented by subscription fees and content licensing. The company's competitive advantage lies in its proprietary publishing platform that enables efficient content creation and distribution across multiple brands and channels.
36Kr is a Chinese digital media and business services platform focused on technology and innovation coverage. It generates revenue primarily through online advertising services and enterprise value-added services — including integrated marketing, event management, and consulting — with additional income from subscription services for investors and businesses. The company's competitive advantage lies in its specialized focus on China's tech ecosystem and its established brand as a trusted source for startup and innovation insights.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
AREN leads in 3 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 2 categories are tied.
Financial Metrics (TTM)
KRKR is the larger business by revenue, generating $340M annually — 2.4x AREN's $143M. AREN is the more profitable business, keeping 88.5% of every revenue dollar as net income compared to KRKR's -26.6%. On growth, KRKR holds the edge at +7.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ARENThe Arena Group H… | KRKR36Kr Holdings Inc. |
|---|---|---|
| RevenueTrailing 12 months | $143M | $340M |
| EBITDAEarnings before interest/tax | $50M | -$92M |
| Net IncomeAfter-tax profit | $126M | -$91M |
| Free Cash FlowCash after capex | $8M | $253,372 |
| Gross MarginGross profit ÷ Revenue | +52.6% | +53.5% |
| Operating MarginEBIT ÷ Revenue | +30.5% | -27.7% |
| Net MarginNet income ÷ Revenue | +88.5% | -26.6% |
| FCF MarginFCF ÷ Revenue | +5.5% | +0.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -11.3% | +7.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +27.3% | +11.8% |
Valuation Metrics
| Metric | ARENThe Arena Group H… | KRKR36Kr Holdings Inc. |
|---|---|---|
| Market CapShares × price | $137M | $3.2B |
| Enterprise ValueMkt cap + debt − cash | $257M | $3.2B |
| Trailing P/EPrice ÷ TTM EPS | -1.01x | -0.30x |
| Forward P/EPrice ÷ next-FY EPS est. | 3.52x | 0.09x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 14.62x | — |
| Price / SalesMarket cap ÷ Revenue | 1.09x | 94.78x |
| Price / BookPrice ÷ Book value/share | — | 0.34x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
| Metric | ARENThe Arena Group H… | KRKR36Kr Holdings Inc. |
|---|---|---|
| ROE (TTM)Return on equity | — | -34.6% |
| ROA (TTM)Return on assets | +104.2% | -19.7% |
| ROICReturn on invested capital | +22.6% | -30.9% |
| ROCEReturn on capital employed | — | -37.1% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | — | 0.25x |
| Net DebtTotal debt minus cash | $119M | -$7M |
| Cash & Equiv.Liquid assets | $4M | $37M |
| Total DebtShort + long-term debt | $124M | $30M |
| Interest CoverageEBIT ÷ Interest expense | 3.70x | — |
Total Returns (with DRIP)
A $10,000 investment in AREN five years ago would be worth $1,642 today (with dividends reinvested), compared to $440 for KRKR. Over the past 12 months, AREN leads with a +79.5% total return vs KRKR's -21.0%. The 3-year compound annual growth rate (CAGR) favors AREN at -28.4% vs KRKR's -46.1% — a key indicator of consistent wealth creation.
| Metric | ARENThe Arena Group H… | KRKR36Kr Holdings Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -26.8% | -23.9% |
| 1-Year ReturnPast 12 months | +79.5% | -21.0% |
| 3-Year ReturnCumulative with dividends | -63.2% | -84.4% |
| 5-Year ReturnCumulative with dividends | -83.6% | -95.6% |
| 10-Year ReturnCumulative with dividends | -17.9% | -98.6% |
| CAGR (3Y)Annualised 3-year return | -28.4% | -46.1% |
Risk & Volatility
KRKR is the less volatile stock with a 0.76 beta — it tends to amplify market swings less than AREN's 0.87 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. AREN currently trades 28.8% from its 52-week high vs KRKR's 16.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ARENThe Arena Group H… | KRKR36Kr Holdings Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.87x | 0.76x |
| 52-Week HighHighest price in past year | $10.05 | $21.36 |
| 52-Week LowLowest price in past year | $1.34 | $3.15 |
| % of 52W HighCurrent price vs 52-week peak | +28.8% | +16.7% |
| RSI (14)Momentum oscillator 0–100 | 34.3 | 36.3 |
| Avg Volume (50D)Average daily shares traded | 62K | 6K |
Analyst Outlook
Wall Street rates AREN as "Buy" and KRKR as "Buy".
| Metric | ARENThe Arena Group H… | KRKR36Kr Holdings Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $10.00 | — |
| # AnalystsCovering analysts | 2 | 1 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| The Arena Group Hol… (AREN) | 100 | 21.89 | -78.1% |
| 36Kr Holdings Inc. (KRKR) | 100 | 4.64 | -95.4% |
The Arena Group Hol… (AREN) returned -84% over 5 years vs 36Kr Holdings Inc. (KRKR)'s -96%.
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| The Arena Group Hol… (AREN) | $0.00 | $126M | — |
| 36Kr Holdings Inc. (KRKR) | $121M | $231M | +91.7% |
The Arena Group Holdings, Inc.'s revenue grew from $0M (2015) to $126M (2024) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| The Arena Group Hol… (AREN) | -81.6% | -80.0% | +2.0% |
| 36Kr Holdings Inc. (KRKR) | 6.6% | -59.1% | -999.3% |
The Arena Group Holdings, Inc.'s net margin went from -82% (2017) to -80% (2024). 36Kr Holdings Inc.'s net margin went from 7% (2017) to -59% (2024).
Chart 4EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| The Arena Group Hol… (AREN) | -0.47 | -2.85 | -506.4% |
| 36Kr Holdings Inc. (KRKR) | 17 | -81.75 | -580.9% |
The Arena Group Holdings, Inc.'s EPS grew from $-0.47 (2015) to $-2.85 (2024).
Chart 5Free Cash Flow — 5 Years
The Arena Group Holdings, Inc. generated $-21M FCF in 2024 (-7% vs 2021). 36Kr Holdings Inc. generated $-33M FCF in 2024 (-117% vs 2021).
AREN vs KRKR: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is AREN or KRKR a better buy right now?
Analysts rate The Arena Group Holdings, Inc. (AREN) a "Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — AREN or KRKR?
Over the past 5 years, The Arena Group Holdings, Inc. (AREN) delivered a total return of -83.6%, compared to -95.6% for 36Kr Holdings Inc. (KRKR). A $10,000 investment in AREN five years ago would be worth approximately $2K today (assuming dividends reinvested). Over 10 years, the gap is even starker: AREN returned -17.9% versus KRKR's -98.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — AREN or KRKR?
By beta (market sensitivity over 5 years), 36Kr Holdings Inc. (KRKR) is the lower-risk stock at 0.76β versus The Arena Group Holdings, Inc.'s 0.87β — meaning AREN is approximately 15% more volatile than KRKR relative to the S&P 500.
04Which has better profit margins — AREN or KRKR?
36Kr Holdings Inc. (KRKR) is the more profitable company, earning -59.1% net margin versus -80.0% for The Arena Group Holdings, Inc. — meaning it keeps -59.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: AREN leads at 6.2% versus -33.7% for KRKR. At the gross margin level — before operating expenses — KRKR leads at 48.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Is AREN or KRKR more undervalued right now?
On forward earnings alone, 36Kr Holdings Inc. (KRKR) trades at 0.1x forward P/E versus 3.5x for The Arena Group Holdings, Inc. — 3.4x cheaper on a one-year earnings basis.
06Which pays a better dividend — AREN or KRKR?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is AREN or KRKR better for a retirement portfolio?
For long-horizon retirement investors, 36Kr Holdings Inc. (KRKR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.76)). Both have compounded well over 10 years (KRKR: -98.6%, AREN: -17.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between AREN and KRKR?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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- Sector: Communication Services
- Market Cap > $100B
- Revenue Growth > 5%
- Gross Margin > 32%