The company maintains a conservative capital structure, evidenced by a low debt-to-equity ratio of 0.08 and a robust cash position of $9.2 billion as of 2025Q4.
FinVolution Group (FINV) balance sheet — 11-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 |
|---|
| Cash & Short Term Investments | 76.53B | 9.22B | 7.51B | 7.93B | 7.06B | 5.62B | 4.6B | 2.44B | 3.31B | 3.85B | 664.68M | 126.96M |
| Cash & Due from Banks | 4.89B | 6.2B | 4.67B | 4.97B | 3.64B | 4.42B | 2.63B | 2.32B | 1.62B | 1.89B | 404.68M | 92.5M |
| Short Term Investments | 3.16B | 3.02B | 2.83B | 2.96B | 3.43B | 1.2B | 1.97B | 114.56M | 1.69B | 1.96B | 260M | 34.47M |
| Total Investments | 10.93B | 10.64B | 4.01B | 4.1B | 4.51B | 2.18B | 2.92B | 1.07B | 1.86B | 1.97B | 468.95M | 146.53M |
| Investments Growth % | 980.36% | 165.53% | -2.21% | -9.2% | 107.31% | -25.52% | 173.7% | -42.68% | -5.53% | 320.33% | 220.04% | - |
| Long-Term Investments | 32.1B | 7.62B | 1.17B | 1.14B | 1.08B | 971.12M | 950.51M | 952.83M | 167.5M | 12.23M | 208.95M | 112.06M |
| Accounts Receivables | 2.9B | 3.35B | 2.41B | 2.21B | 2.22B | 1.89B | 863.91M | 882.3M | 812.04M | 17.77M | 14.2M | 57.95M |
| Goodwill & Intangibles | 286.34M | 350.23M | 187.71M | 149.1M | 149.1M | 149.36M | 149.36M | 114.69M | 119.29M | 114.17M | 0 | 0 |
| Goodwill | 0 | 0 | 50.41M | 50.41M | 50.41M | 50.41M | 50.41M | 50.41M | 50.41M | 50.41M | 0 | 0 |
| Intangible Assets | 286.34M | 350.23M | 137.3M | 98.69M | 98.69M | 98.95M | 98.95M | 64.28M | 68.88M | 63.76M | 0 | 0 |
| PP&E (Net) | 665.93M | 693.78M | 660.62M | 179.04M | 333.77M | 161.53M | 148.84M | 230.11M | 144M | 108.25M | 37.63M | 19.91M |
| Other Assets | 1.48B | 1.21B | 0 | 0 | 0 | 0 | 0 | 0 | 56.29M | 0 | 763.65M | 178.34M |
| Total Current Assets | 12.37B | 12.56B | 19.07B | 18.21B | 18.9B | 16.4B | 13.48B | 16.88B | 12.53B | 8.24B | 1.11B | 411.73M |
| Total Non-Current Assets | 13.71B | 12.86B | 4.54B | 3.09B | 2.49B | 1.74B | 1.4B | 1.43B | 609.84M | 363.01M | 1.04B | 325.19M |
| Total Assets | 26.08B | 25.43B | 23.61B | 21.29B | 21.38B | 18.14B | 14.88B | 18.3B | 13.14B | 8.6B | 2.15B | 736.92M |
| Asset Growth % | 735.97% | 7.72% | 10.86% | -0.42% | 17.89% | 21.88% | -18.7% | 39.28% | 52.75% | 300.68% | 191.39% | - |
| Return on Assets (ROA) | 2.87% | 10.09% | 10.62% | 10.97% | 11.47% | 15.2% | 11.89% | 15.09% | 22.71% | 20.15% | 34.77% | -9.79% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 905.03M | 1.11B | 421.66M | 176.16M |
| Total Debt | 1.58B | 1.32B | 34.36M | 41.63M | 176.99M | 33.36M | 43.3M | 320.14M | 25M | 0 | 0 | 20M |
| Net Debt | -3.32B | -4.88B | -4.64B | -4.93B | -3.46B | -4.38B | -2.59B | -2B | -1.59B | -1.89B | -404.68M | -72.5M |
| Long-Term Debt | 1.15B | 1.11B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 387.59M | 170.52M | 5.59M | 5.76M | 0 | 0 | 0 | 235M | 25M | 0 | 0 | 20M |
| Other Liabilities | 5.77B | 2.77B | 3.11B | 6.1B | 3.6B | 3.25B | 1.18B | -555K | -137.69M | 348.68M | 703.14M | 232.69M |
| Total Current Liabilities | 387.59M | 170.52M | 4.42B | 3.66B | 4.93B | 4B | 3.86B | 9.95B | 7.03B | 4.29B | 509.03M | 222.17M |
| Total Non-Current Liabilities | 8.95B | 8.4B | 3.63B | 6.48B | 4.01B | 3.42B | 2.59B | 339.24M | 127.84M | 629.71M | 866.04M | 246.37M |
| Total Liabilities | 9.34B | 8.58B | 8.05B | 7.42B | 8.94B | 7.43B | 6.45B | 10.29B | 7.16B | 4.92B | 1.38B | 468.54M |
| Total Equity | 16.75B | 16.85B | 15.55B | 13.87B | 12.44B | 10.71B | 8.43B | 8.01B | 5.99B | 3.68B | 772.22M | 268.38M |
| Equity Growth % | 715.92% | 8.36% | 12.13% | 11.46% | 16.2% | 27.04% | 5.23% | 33.84% | 62.56% | 376.83% | 187.74% | - |
| Equity / Assets (Capital Ratio) | 64.21% | 66.28% | 65.89% | 65.14% | 58.2% | 59.04% | 56.65% | 43.77% | 45.55% | 42.8% | 35.96% | 36.42% |
| Return on Equity (ROE) | 4.49% | 15.26% | 16.2% | 17.79% | 19.58% | 26.22% | 24% | 33.9% | 51.08% | 48.63% | 96.38% | -26.88% |
| Book Value per Share | 66.86 | 63.16 | 58.91 | 49.43 | 42.79 | 36.12 | 28.26 | 25.80 | 18.71 | 23.61 | 2.58 | 0.90 |
| Tangible BV per Share | 65.72 | 61.85 | 58.19 | 48.90 | 42.27 | 35.62 | 27.76 | 25.43 | 18.34 | 22.88 | 2.58 | 0.90 |
| Common Stock | 103.03K | 103.06K | 103K | 103K | 103K | 103K | 103K | 103K | 102K | 100K | 0 | 0 |
| Additional Paid-in Capital | 5.99B | 5.91B | 5.82B | 5.75B | 5.69B | 5.69B | 5.66B | 5.64B | 5.9B | 5.95B | 0 | 0 |
| Retained Earnings | 12.41B | 12.06B | 11.06B | 9.12B | 6.5B | 4.69B | 2.65B | 1.97B | 45.67M | -2.4B | -369.07M | -292.87M |
| Accumulated OCI | 1.08B | 1.06B | 92.63M | 842.48M | 750.64M | 593.63M | 452.92M | 387.52M | 314.22M | 70.01M | -69.36M | -24.52M |
| Treasury Stock | -2.83B | -2.47B | -1.77B | -1.2B | -568.6M | -324.17M | -401.62M | -47.17M | -332.12M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.21B | 585.77M |
Quick answers to the most common questions about buying FINV stock.
As of 2025, FinVolution Group (FINV) had total assets of $25.43B including $12.56B in current assets.
FinVolution Group (FINV) carries total debt of $1.32B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
FinVolution Group (FINV) has total shareholders' equity (book value) of $16.56B ($63.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
FinVolution Group (FINV) reported a current ratio of 73.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Regulatory IRR Cap Compression
Asset Base Volatility Masks Stagnation
According to reported financial statements, FinVolution's total assets fluctuated significantly from $22.8 billion in 2024Q3 to $25.4 billion by 2025Q4, suggesting that the company's underlying growth trajectory remains inconsistent despite the maintenance of a substantial, albeit volatile, asset base over the observed ten-quarter period.
The erratic movement in total assets indicates that the company's balance sheet is highly sensitive to shifts in loan facilitation volume and the associated guarantee liabilities. Investors should monitor whether this volatility reflects genuine business expansion or merely the cyclical nature of credit provisioning requirements.
Minimal Leverage Supports Financial Flexibility
Based on the latest quarterly filings, FinVolution maintains a conservative capital structure with a debt-to-equity ratio of 0.08 as of 2025Q4, which appears to provide a significant buffer against the inherent credit risks associated with its consumer-focused lending facilitation business model.
The company's reliance on equity rather than debt financing suggests a strategic preference for maintaining a fortress balance sheet to navigate regulatory uncertainty. This low leverage profile may offer management greater flexibility to absorb potential credit losses without jeopardizing the firm's solvency.
Cash Reserves Provide Substantial Buffer
As reported in recent SEC filings, FinVolution held $9.2 billion in cash as of 2025Q4, representing a robust liquidity position that, while potentially containing restricted deposits, provides a meaningful cushion against operational shocks and the ongoing costs of international market expansion efforts.
The current ratio of 73.69 in 2025Q4 is exceptionally high, which may indicate an accumulation of cash or short-term assets that are not immediately available for general corporate purposes. Analysts should investigate the proportion of this cash that is restricted as collateral for institutional funding partners.
Retained Earnings Drive Equity Growth
Based on the provided data, retained earnings have grown to $12.1 billion by 2025Q4, serving as the primary driver of the company's $16.6 billion equity base and reflecting a history of profitable operations despite the recent compression in net margins observed in the income statement.
The consistent accumulation of retained earnings suggests that the business has historically generated sufficient internal capital to fund its operations without excessive dilution. However, the recent deceleration in net income growth warrants caution regarding the future sustainability of this equity-building trend.