The company maintains a healthy debt profile with a debt-to-equity ratio of 0.00, yet it is burdened by a significant accumulated deficit of $2.1 billion as of 2025Q2.
| Total Current Assets | 3.65B | 921.42M | 3.17B | 2.86B | 3.64B | 4.18B | 4.49B | 7.22B | 7.93B | 5.54B | 1.9B |
| Cash & Short-Term Investments | 2.84B | 754.45M | 2.6B | 2.46B | 2.87B | 2.7B | 2.86B | 4.71B | 6.3B | 4.48B | 1.24B |
| Cash Only | 420.52M | 750.6M | 379.35M | 1.69B | 2.43B | 2.44B | 2.73B | 4.68B | 5.47B | 3.78B | 1.24B |
| Short-Term Investments | 2.42B | 3.85M | 2.22B | 774.6M | 433.11M | 253.11M | 133.76M | 24M | 833.48M | 700M | 0 |
| Accounts Receivable | 89.61M | 166.96M | 152.51M | 38.04M | 354.63M | 452.4M | 177.98M | 423.16M | 339.22M | 538.04M | 374.69M |
| Days Sales Outstanding | 118.53 | 132.59 | 179.58 | 33.66 | 230.46 | 216.86 | 51.72 | 34.9 | 22.28 | 29.13 | 60.5 |
| Inventory | 0 | 0 | 998K | 0 | 419.92M | 1.03B | 1.15B | 1.21B | 486.19M | 489.58M | 245.35M |
| Days Inventory Outstanding | 2.49 | - | 3.38 | - | 1.33K | 3.54K | 766.92 | 387.22 | 398.94 | 355.93 | 532.97 |
| Other Current Assets | 558.45M | 0 | 264.26M | 197.42M | -5.88M | -36.31M | 259.23M | -196.23M | 56.9M | 36.09M | 186.43M |
| Total Non-Current Assets | 741.97M | 3.45B | 949.28M | 1.18B | 668.12M | 871.24M | 896.87M | 1.66B | 1.18B | 734.63M | 254.83M |
| Property, Plant & Equipment | 58.34M | 45.5M | 64.8M | 79.95M | 78.05M | 62.07M | 92.06M | 232.17M | 86.27M | 54.67M | 20.07M |
| Fixed Asset Turnover | 5.19x | 10.10x | 4.78x | 5.16x | 7.20x | 12.27x | 13.64x | 19.06x | 64.41x | 123.32x | 112.66x |
| Goodwill | 0 | 0 | 0 | 0 | 24.73M | 22.12M | 22.12M | 72.22M | 13.38M | 13.06M | 10.63M |
| Intangible Assets | 3.97M | 3.31M | 4.63M | 29.5M | 35.13M | 37.28M | 44.41M | 73.48M | 44.73M | 46.05M | 17.85M |
| Long-Term Investments | 3.12B | 3.17B | 879.6M | 1.07B | 530.21M | 727.43M | 738.27M | 775.64M | 954.16M | 509.74M | 152.03M |
| Other Non-Current Assets | 0 | 165.56M | 253K | 2.15M | -668.12M | 22.35M | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 4.39B | 4.37B | 4.12B | 4.04B | 4.31B | 5.05B | 5.39B | 8.88B | 9.11B | 6.28B | 2.15B |
| Asset Turnover | 0.08x | 0.11x | 0.08x | 0.10x | 0.13x | 0.15x | 0.23x | 0.50x | 0.61x | 1.07x | 1.05x |
| Asset Growth % | 17.48% | 6.01% | 2.07% | -6.3% | -14.63% | -6.25% | -39.34% | -2.5% | 45.13% | 191.4% | - |
| Total Current Liabilities | 525.8M | 23.91M | 453.73M | 445.96M | 584.19M | 834.03M | 1.12B | 2.41B | 1.46B | 1.74B | 936.76M |
| Accounts Payable | 0 | 0 | 57.17M | 42.95M | 153.7M | 273.77M | 405.72M | 125.44M | 47.5M | 20.02M | 32.06M |
| Days Payables Outstanding | 71.34 | - | 193.47 | 136.12 | 485.97 | 941.1 | 271.33 | 40.25 | 38.97 | 14.56 | 69.66 |
| Short-Term Debt | 0 | 23.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.34M | 0 | 1.34M | 5.33M | 8.96M | 46.97M | 0 | 788.91M | 346.85M | 384.07M | 94.18M |
| Other Current Liabilities | 296.62M | 0 | 368.08M | 2.11M | 2.21M | 33.31M | 129.08M | 80.94M | 82.79M | 37.96M | 25.17M |
| Current Ratio | 6.94x | 38.53x | 6.99x | 6.42x | 6.24x | 5.01x | 3.99x | 3.00x | 5.42x | 3.18x | 2.03x |
| Quick Ratio | 6.94x | 38.53x | 6.99x | 6.42x | 5.52x | 3.78x | 2.97x | 2.50x | 5.09x | 2.90x | 1.77x |
| Cash Conversion Cycle | 49.69 | - | -10.51 | - | 1.07K | 2.81K | 547.3 | 381.87 | 382.25 | 370.5 | 523.81 |
| Total Non-Current Liabilities | 11.29M | 573.17M | 12.74M | 20.77M | 15.44M | 25.64M | 38.78M | 142.62M | 1.39B | 829.72M | 218.26M |
| Long-Term Debt | 0 | -8.01K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 19.75M | -8.01K | 9.57M | 14.72M | 8.32M | 17.91M | 29.5M | 125.41M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 763K | 83.96M | 763K | 6.05M | 7.13M | 7.73M | 9.28M | 17.21M | 9M | 9.31M | 2.94M |
| Other Non-Current Liabilities | 6.68M | 489.23M | 2.4M | 3.64M | 21.22M | 786.51M | -82.64M | -788.91M | 1.38B | 820.41M | 215.32M |
| Total Liabilities | 537.09M | 597.09M | 466.47M | 466.73M | 599.63M | 859.66M | 1.16B | 2.55B | 2.85B | 2.57B | 1.16B |
| Total Debt | 4.61M | 23.9M | 9.57M | 14.72M | 8.32M | 17.91M | 29.5M | 125.41M | 1M | 1M | 1M |
| Net Debt | -415.91M | -726.71M | -369.77M | -1.67B | -2.42B | -2.43B | -2.7B | -4.56B | -5.47B | -3.78B | -1.24B |
| Debt / Equity | 0.00x | 0.01x | 0.00x | 0.00x | 0.00x | 0.00x | 0.01x | 0.02x | 0.00x | 0.00x | 0.00x |
| Debt / EBITDA | 0.07x | 0.04x | - | - | - | - | - | - | 0.00x | 0.00x | 0.00x |
| Net Debt / EBITDA | -6.19x | -1.28x | - | - | - | - | - | - | -2.46x | -4.05x | -3.05x |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 3.85B | 3.77B | 3.66B | 3.57B | 3.71B | 4.19B | 4.22B | 6.33B | 6.25B | 3.7B | 998.63M |
| Equity Growth % | 18.27% | 3.2% | 2.35% | -3.73% | -11.43% | -0.79% | -33.26% | 1.17% | 68.84% | 270.97% | - |
| Book Value per Share | 326.55 | 319.89 | 310.00 | 303.44 | 318.24 | 392.25 | 425.32 | 725.03 | 645.32 | 382.21 | 103.03 |
| Total Shareholders' Equity | 3.8B | 3.71B | 3.6B | 3.52B | 3.66B | 4.13B | 4.17B | 6.28B | 6.24B | 3.69B | 986.66M |
| Common Stock | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 0 | 0 | 0 |
| Retained Earnings | -2.09B | -2.62B | -2.78B | -2.83B | -2.69B | -2.06B | -1.82B | 488.24M | 2.67B | 987.71M | 640.17M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 175.81M | 618.25M | 670.4M | 630.5M | 556.48M | 411.36M | 459.4M | 551.25M | 526.47M | 162.17M | 95.31M |
| Minority Interest | 54.78M | 59.38M | 54.79M | 54.62M | 54.78M | 55.75M | 54.74M | 47.05M | 10.45M | 16.2M | 11.98M |
Regulatory and accounting opacity
According to reported financial statements, JFU has maintained a relatively stable total asset base of approximately $4.4 billion as of 2025Q2, yet this consistency belies a significant erosion in cash reserves, which have declined from $2.2 billion in 2023Q2 to just $420.5 million currently.
The stability in total assets appears to be a function of accounting valuation rather than organic growth, as the company has struggled to convert its business model into sustainable capital accumulation. Investors should monitor whether this asset plateau represents a strategic floor or a precursor to further balance sheet shrinkage as the company navigates a challenging regulatory environment.
Based on the provided quarterly data, JFU's cash position has experienced a sharp decline, falling from $2.2 billion in 2023Q1 to $420.5 million by 2025Q2, representing a significant reduction in the company's immediate liquidity buffer against potential operational shocks or regulatory-driven capital requirements.
While the current ratio of 6.94 suggests a strong short-term liquidity position, the rapid depletion of cash reserves warrants concern regarding the company's long-term burn rate. This trend may indicate that the firm is consuming capital to sustain its ecosystem rather than generating self-funding growth, which could limit future strategic flexibility.
As reported in recent filings, JFU's equity remains anchored by a substantial accumulated deficit of $2.1 billion as of 2025Q2, which highlights the long-term impact of historical operational losses on the company's capital structure despite the maintenance of a $3.8 billion total equity figure.
The persistence of this negative retained earnings balance suggests that the company has yet to achieve a sustainable path to profitability that would allow for the replenishment of shareholder capital. This structural weakness implies that the equity base is highly sensitive to any further impairment of assets or unexpected regulatory liabilities.
Data from the balance sheet indicates that goodwill has fluctuated significantly, dropping from $29.5 million in 2023Q4 to $4.0 million in 2025Q2, which may suggest ongoing impairments or divestitures that are not fully explained by the company's core operational performance metrics.
The volatility in intangible assets, combined with the lack of clarity regarding the nature of the company's contract assets, suggests that the headline equity value may be subject to significant accounting adjustments. Investors should be wary that the reported book value might not accurately reflect the realizable value of the company's underlying technology and platform assets.
Quick answers to the most common questions about buying JFU stock.
As of 2025, 9F Inc. (JFU) had total assets of $4.37B including $921.4M in current assets.
9F Inc. (JFU) carries total debt of $23.9M, offset by $754.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
9F Inc. (JFU) has total shareholders' equity (book value) of $3.71B ($319.89 book value per share). Book value represents the net worth of the company belonging to common stock holders.
9F Inc. (JFU) reported a current ratio of 38.53x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.