Despite a conservative debt-to-equity ratio of 0.16, the company's asset composition has shifted toward a $1.4B net PPE footprint, marking a departure from its historical asset-light model.
| Total Current Assets | 6.92B | 4.34B | 5.39B | 2.81B | 786.6M | 370.51M | 552.65M | 716.63M | 2.47B | 1.9B |
| Cash & Short-Term Investments | 61.84M | 540.52M | 370.19M | 291.02M | 182.55M | 117.32M | 191.77M | 41.44M | 606.1M | 199.04M |
| Cash Only | 61.84M | 540.52M | 370.19M | 291.02M | 182.55M | 117.32M | 122.15M | 41.44M | 606.1M | 199.04M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 69.62M | 0 | 0 | 0 |
| Accounts Receivable | 5.23B | 3.49B | 4.03B | 2.05B | 502.43M | 158.06M | 110.22M | 539.93M | 799.29M | 394.69M |
| Days Sales Outstanding | 2.2K | 219.62 | 269.23 | 228.22 | 103 | 44.37 | 18.04 | 68.38 | 129.61 | 243.72 |
| Inventory | 0 | 0 | 0 | 0 | -37.35M | 0 | -130.72M | 129.73M | 273.54M | 497.92M |
| Days Inventory Outstanding | - | - | - | - | - | - | - | 117.89 | 435.33 | 1.27K |
| Other Current Assets | 781.01M | 309.54M | 987.25M | 458.4M | 119.55M | 33.84M | 290.39M | 47.02M | 425.51M | 543.93M |
| Total Non-Current Assets | 1.83B | 1.07B | 254.91M | 209.54M | 184.83M | 154.86M | 148.42M | 85.25M | 63.64M | 127.09M |
| Property, Plant & Equipment | 1.36B | 97.16M | 89.99M | 46.5M | 44.61M | 26.38M | 76.3M | 29.01M | 23.87M | 5.4M |
| Fixed Asset Turnover | 0.64x | 59.71x | 60.75x | 70.35x | 39.92x | 49.30x | 29.23x | 99.34x | 94.30x | 109.52x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 113.93M | 80.13M | 0 | 0 | 0 |
| Long-Term Investments | 302.08M | 162.27M | 101.48M | 90.5M | 90.53M | 87.55M | 3.83M | 0 | 0 | 0 |
| Other Non-Current Assets | 76.55M | 737.58M | 2.26M | 1.76M | 1.24M | -113.93M | -80.13M | 212K | 1.38M | 2.21M |
| Total Assets | 8.76B | 5.41B | 5.64B | 3.02B | 971.43M | 525.37M | 701.07M | 801.88M | 2.53B | 2.03B |
| Asset Turnover | 0.10x | 1.07x | 0.97x | 1.08x | 1.83x | 2.47x | 3.18x | 3.59x | 0.89x | 0.29x |
| Asset Growth % | 61.85% | -4.16% | 86.86% | 210.97% | 84.9% | -25.06% | -12.57% | -68.31% | 24.91% | - |
| Total Current Liabilities | 3.68B | 2.02B | 2.28B | 1.78B | 910.44M | 983.94M | 1.41B | 2.45B | 4.46B | 4.59B |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 155.04M | 0 | 0 | 0 | 0 | 3.19M | 0 | 70.4M | 0 | 0 |
| Deferred Revenue (Current) | 458.9M | 229.5M | 886.86M | 276.52M | 0 | 0 | 181.64M | 0 | -106.42M | 0 |
| Other Current Liabilities | 675.8M | 132.51M | 82.09M | 30.19M | -16.91M | -6.51M | -4.27M | 1.57B | 3.87B | 4.33B |
| Current Ratio | 1.88x | 2.15x | 2.36x | 1.58x | 0.86x | 0.38x | 0.39x | 0.29x | 0.55x | 0.41x |
| Quick Ratio | 1.88x | 2.15x | 2.36x | 1.58x | 0.90x | 0.38x | 0.49x | 0.24x | 0.49x | 0.31x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 640.09M | 265.32M | 981.9M | 2.48M | 35.24M | 5.2M | 35.22M | 0 | 0 | 0 |
| Long-Term Debt | 516M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 4.3M | 51.68M | 47.96M | 2.48M | 18.34M | 1.87M | 32.48M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 106.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 12.88M | 213.64M | 933.95M | 212.23M | 16.91M | 3.32M | 2.73M | 0 | 0 | 0 |
| Total Liabilities | 4.32B | 2.28B | 3.26B | 1.78B | 945.68M | 989.14M | 1.44B | 2.45B | 4.46B | 4.59B |
| Total Debt | 700.63M | 51.68M | 63.53M | 27.46M | 35.24M | 8.39M | 35.22M | 70.4M | 104M | 90.12M |
| Net Debt | 638.79M | -488.85M | -306.67M | -263.55M | -147.31M | -108.93M | -86.93M | 28.96M | -502.1M | -108.92M |
| Debt / Equity | 0.16x | 0.02x | 0.03x | 0.02x | 1.37x | - | - | - | - | - |
| Debt / EBITDA | 2.70x | 0.04x | 0.05x | 0.02x | 0.08x | 0.03x | 0.06x | 0.10x | 0.15x | - |
| Net Debt / EBITDA | 2.46x | -0.39x | -0.23x | -0.22x | -0.33x | -0.33x | -0.16x | 0.04x | -0.73x | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 4.43B | 3.13B | 2.38B | 1.24B | 25.75M | -463.76M | -741.6M | -1.65B | -1.93B | -2.56B |
| Equity Growth % | 41.69% | 31.39% | 91.74% | 4721.56% | 105.55% | 37.46% | 55.11% | 14.47% | 24.56% | - |
| Book Value per Share | 86.17 | 58.89 | 44.50 | 23.07 | 0.48 | -8.58 | -14.10 | -33.04 | -38.63 | -51.21 |
| Total Shareholders' Equity | 4.43B | 3.13B | 2.38B | 1.24B | 27.86M | -461.62M | -741.85M | -1.65B | -1.93B | -2.56B |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 3.48B | 2.24B | 1.53B | 384.9M | -794.76M | -1.27B | -1.52B | -2.05B | -2.26B | -2.8B |
| Treasury Stock | -189.69M | -28.89M | -35.44M | -9.26M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 10.85M | 7.1M | -10.19M | -3.11M | -17.95M | -12.82M | 469K | -17.25M | -5.95M | -1.86M |
| Minority Interest | -1.56M | -1.66M | -1.68M | -1.58M | -2.12M | -2.14M | 255K | 0 | 0 | 0 |
Regulatory credit policy shifts
According to reported financial statements, JFIN's total assets grew from $5.1B in 2023Q3 to $8.8B by 2025Q4, yet this expansion appears decoupled from operational performance, as the company simultaneously faces significant revenue headwinds that suggest a potential disconnect between balance sheet growth and core business health.
The rapid increase in total assets, particularly the jump in the most recent quarter, warrants investigation into whether this reflects organic growth or a shift in accounting for credit-related assets. Investors should monitor whether this asset accumulation is sustainable or if it represents a buildup of lower-quality receivables that could pressure future capital adequacy.
Based on the latest quarterly filings, JFIN maintains a conservative debt-to-equity ratio of 0.16, which suggests that the firm has avoided traditional debt financing despite the significant volatility in its operating environment and the ongoing structural transition of its loan facilitation business model.
While the low leverage profile appears to provide a buffer against interest rate shocks, it may also indicate limited access to traditional credit markets for a firm of this size. The reliance on internal equity to fund operations suggests management is prioritizing balance sheet stability over aggressive, debt-fueled expansion.
As reported in recent financial data, JFIN's cash position has declined sharply from a peak of $880.2M in 2024Q2 to just $61.8M by 2025Q4, indicating a rapid consumption of liquidity that may limit the company's flexibility in navigating further regulatory or market-driven disruptions.
The current ratio of 1.88 remains technically adequate, but the downward trend in absolute cash levels is concerning given the firm's high-variable-cost structure. This rapid depletion suggests that the company may be burning through its liquidity buffer to maintain operations or meet obligations, which warrants close scrutiny.
Based on the provided balance sheet data, JFIN's net property, plant, and equipment increased from $90.0M in 2023Q4 to $1.4B by 2025Q4, signaling a notable shift toward a more asset-heavy operational footprint that contrasts with the firm's historical focus on a light, tech-driven facilitation model.
This significant investment in physical assets appears to be a departure from the company's previous strategy and may imply a need for greater infrastructure control in the current regulatory climate. Analysts should evaluate whether this capital allocation will yield sufficient returns or if it represents an inefficient use of resources.
Quick answers to the most common questions about buying JFIN stock.
As of 2025, Jiayin Group Inc. (JFIN) had total assets of $8.76B including $6.92B in current assets.
Jiayin Group Inc. (JFIN) carries total debt of $700.6M, offset by $61.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jiayin Group Inc. (JFIN) has total shareholders' equity (book value) of $4.43B ($86.17 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jiayin Group Inc. (JFIN) reported a current ratio of 1.88x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.