Comprehensive Stock Comparison
Compare Phoenix New Media Limited (FENG) 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 | FENG | 1.7% revenue growth vs KRKR's -32.1% |
| Value | KRKR | Lower P/E (0.1x vs 0.2x) |
| Quality / Margins | FENG | -6.4% net margin vs KRKR's -26.6% |
| Stability / Safety | FENG | Beta 0.54 vs KRKR's 0.76, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | KRKR | -21.0% vs FENG's -22.7% |
| Efficiency (ROA) | FENG | -3.0% ROA vs KRKR's -19.7%, ROIC -7.7% 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
Phoenix New Media operates a Chinese digital media platform that delivers news, video, and entertainment content across web and mobile channels. It generates revenue primarily from online advertising services (roughly 70-80% of total) supplemented by paid services including mobile content subscriptions and digital reading applications. The company's competitive advantage lies in its established Phoenix TV brand recognition and its comprehensive content ecosystem spanning news, finance, and entertainment verticals.
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
FENG leads in 4 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 1 category is tied.
Financial Metrics (TTM)
FENG is the larger business by revenue, generating $761M annually — 2.2x KRKR's $340M. FENG is the more profitable business, keeping -6.4% of every revenue dollar as net income compared to KRKR's -26.6%. On growth, FENG holds the edge at +22.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | FENGPhoenix New Media… | KRKR36Kr Holdings Inc. |
|---|---|---|
| RevenueTrailing 12 months | $761M | $340M |
| EBITDAEarnings before interest/tax | -$43M | -$92M |
| Net IncomeAfter-tax profit | -$49M | -$91M |
| Free Cash FlowCash after capex | $0 | $253,372 |
| Gross MarginGross profit ÷ Revenue | +45.6% | +53.5% |
| Operating MarginEBIT ÷ Revenue | -6.9% | -27.7% |
| Net MarginNet income ÷ Revenue | -6.4% | -26.6% |
| FCF MarginFCF ÷ Revenue | -7.0% | +0.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +22.3% | +7.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -14.0% | +11.8% |
Valuation Metrics
| Metric | FENGPhoenix New Media… | KRKR36Kr Holdings Inc. |
|---|---|---|
| Market CapShares × price | $552M | $3.2B |
| Enterprise ValueMkt cap + debt − cash | $472M | $3.2B |
| Trailing P/EPrice ÷ TTM EPS | -2.68x | -0.30x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.24x | 0.09x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 5.38x | 94.78x |
| Price / BookPrice ÷ Book value/share | 0.13x | 0.34x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
FENG delivers a -4.6% return on equity — every $100 of shareholder capital generates $-5 in annual profit, vs $-35 for KRKR. FENG carries lower financial leverage with a 0.05x debt-to-equity ratio, signaling a more conservative balance sheet compared to KRKR's 0.25x. On the Piotroski fundamental quality scale (0–9), FENG scores 6/9 vs KRKR's 3/9, reflecting solid financial health.
| Metric | FENGPhoenix New Media… | KRKR36Kr Holdings Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -4.6% | -34.6% |
| ROA (TTM)Return on assets | -3.0% | -19.7% |
| ROICReturn on invested capital | -7.7% | -30.9% |
| ROCEReturn on capital employed | -5.4% | -37.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 0.05x | 0.25x |
| Net DebtTotal debt minus cash | -$551M | -$7M |
| Cash & Equiv.Liquid assets | $608M | $37M |
| Total DebtShort + long-term debt | $57M | $30M |
| Interest CoverageEBIT ÷ Interest expense | — | — |
Total Returns (with DRIP)
A $10,000 investment in FENG five years ago would be worth $1,593 today (with dividends reinvested), compared to $440 for KRKR. Over the past 12 months, KRKR leads with a -21.0% total return vs FENG's -22.7%. The 3-year compound annual growth rate (CAGR) favors FENG at -7.0% vs KRKR's -46.1% — a key indicator of consistent wealth creation.
| Metric | FENGPhoenix New Media… | KRKR36Kr Holdings Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +1.8% | -23.9% |
| 1-Year ReturnPast 12 months | -22.7% | -21.0% |
| 3-Year ReturnCumulative with dividends | -19.4% | -84.4% |
| 5-Year ReturnCumulative with dividends | -84.1% | -95.6% |
| 10-Year ReturnCumulative with dividends | -50.0% | -98.6% |
| CAGR (3Y)Annualised 3-year return | -7.0% | -46.1% |
Risk & Volatility
FENG is the less volatile stock with a 0.54 beta — it tends to amplify market swings less than KRKR's 0.76 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FENG currently trades 47.7% from its 52-week high vs KRKR's 16.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FENGPhoenix New Media… | KRKR36Kr Holdings Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.54x | 0.76x |
| 52-Week HighHighest price in past year | $3.65 | $21.36 |
| 52-Week LowLowest price in past year | $1.28 | $3.15 |
| % of 52W HighCurrent price vs 52-week peak | +47.7% | +16.7% |
| RSI (14)Momentum oscillator 0–100 | 42.0 | 36.3 |
| Avg Volume (50D)Average daily shares traded | 3K | 6K |
Analyst Outlook
Wall Street rates FENG as "Buy" and KRKR as "Buy".
| Metric | FENGPhoenix New Media… | KRKR36Kr Holdings Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | — | — |
| # AnalystsCovering analysts | 5 | 1 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Phoenix New Media L… (FENG) | 100 | 16.85 | -83.1% |
| 36Kr Holdings Inc. (KRKR) | 100 | 4.64 | -95.4% |
Phoenix New Media L… (FENG) returned -84% over 5 years vs 36Kr Holdings Inc. (KRKR)'s -96%.
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Phoenix New Media L… (FENG) | $1.6B | $704M | -56.3% |
| 36Kr Holdings Inc. (KRKR) | $121M | $231M | +91.7% |
Phoenix New Media Limited's revenue grew from $1.6B (2015) to $704M (2024) — a -8.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Phoenix New Media L… (FENG) | 4.6% | -7.6% | -266.4% |
| 36Kr Holdings Inc. (KRKR) | 6.6% | -59.1% | -999.3% |
Phoenix New Media Limited's net margin went from 5% (2015) to -8% (2024).
Chart 4P/E Ratio History — 3 Years
| Stock | 2017 | 2020 | Change |
|---|---|---|---|
| Phoenix New Media L… (FENG) | 14.1 | 0.2 | -98.6% |
Phoenix New Media Limited has traded in a 0x–14x P/E range over 3 years; current trailing P/E is ~-3x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Phoenix New Media L… (FENG) | 5.76 | -4.46 | -177.4% |
| 36Kr Holdings Inc. (KRKR) | 17 | -81.75 | -580.9% |
Phoenix New Media Limited's EPS grew from $5.76 (2015) to $-4.46 (2024) — a NaN% CAGR.
Chart 6Free Cash Flow — 5 Years
Phoenix New Media Limited generated $-50M FCF in 2024 (+69% vs 2021). 36Kr Holdings Inc. generated $-33M FCF in 2024 (-117% vs 2021).
FENG vs KRKR: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is FENG or KRKR a better buy right now?
Analysts rate Phoenix New Media Limited (FENG) a "Buy" — based on 5 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 — FENG or KRKR?
Over the past 5 years, Phoenix New Media Limited (FENG) delivered a total return of -84.1%, compared to -95.6% for 36Kr Holdings Inc. (KRKR). A $10,000 investment in FENG five years ago would be worth approximately $2K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FENG returned -50.0% 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 — FENG or KRKR?
By beta (market sensitivity over 5 years), Phoenix New Media Limited (FENG) is the lower-risk stock at 0.54β versus 36Kr Holdings Inc.'s 0.76β — meaning KRKR is approximately 40% more volatile than FENG relative to the S&P 500. On balance sheet safety, Phoenix New Media Limited (FENG) carries a lower debt/equity ratio of 5% versus 25% for 36Kr Holdings Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — FENG or KRKR?
Phoenix New Media Limited (FENG) is the more profitable company, earning -7.6% net margin versus -59.1% for 36Kr Holdings Inc. — meaning it keeps -7.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FENG leads at -9.2% 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 FENG or KRKR more undervalued right now?
On forward earnings alone, 36Kr Holdings Inc. (KRKR) trades at 0.1x forward P/E versus 0.2x for Phoenix New Media Limited — 0.1x cheaper on a one-year earnings basis.
06Which pays a better dividend — FENG 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 FENG or KRKR better for a retirement portfolio?
For long-horizon retirement investors, Phoenix New Media Limited (FENG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.54)). Both have compounded well over 10 years (FENG: -50.0%, KRKR: -98.6%), 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 FENG 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 > 11%
- Gross Margin > 27%
- Sector: Communication Services
- Market Cap > $100B
- Revenue Growth > 5%
- Gross Margin > 32%