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OneConnect Financial Technology Co., Ltd. (OCFT) 10-Year Financial Performance & Capital Metrics

OCFT • • Industrial / General
TechnologyApplication SoftwareFinancial Technology & PaymentsDigital Banking Platforms
AboutOneConnect Financial Technology Co., Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services. The company also operates gamma core banking system, a customer centric solution; digitalized management platform that offers digital infrastructure for financial institutions to manage various aspects of their business, including data, smart operation, comprehensive risk, and asset and liability management, as well as accounting, personnel, and office management; Gamma FinCloud, an open PaaS and IaaS platform for ready-to-integrate financial technology components; and Blockchain network-as-a-service. In addition, it operates Regtech, an end-to-end regulatory solution to help regulatory authorities automate and digitalize their operations; and offers asset management and consulting services. The company serves customers in the financial services industry, including banking, insurance, and other financial institutions. It has a strategic agreement with the Hainan Local Financial Supervision Administration to develop smart financial and smart supervision services in the island province of Hainan, as well as the financial sector in Hainan free trade port. OneConnect Financial Technology Co., Ltd. was founded in 2015 and is headquartered in Shenzhen, the People's Republic of China.Show more
  • Revenue $2.25B -38.7%
  • EBITDA -$204M -22.2%
  • Net Income -$460M -26.7%
  • EPS (Diluted) -12.60 -27.3%
  • Gross Margin 35.79% -2.7%
  • EBITDA Margin -9.07% -99.3%
  • Operating Margin -13.5% -34.5%
  • Net Margin -20.45% -106.7%
  • ROE -16.86% -44.7%
  • ROIC -18.03% -22.9%
  • Debt/Equity 0.02 -85.6%
  • Interest Coverage -24.44 -26.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Trading near 52-week high
  • ✓Trading at only 0.1x book value

✗Weaknesses

  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-0.69%
3Y-18.37%
TTM-48.7%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-1937.51%

EPS CAGR

10Y-
5Y-
3Y-
TTM-177.16%

ROCE

10Y Avg-96.04%
5Y Avg-20.82%
3Y Avg-16.07%
Latest-10.99%

Peer Comparison

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Profit & Loss

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+581.91M1.41B2.33B3.31B4.13B4.46B3.67B2.25B
Revenue Growth %-1.43%0.65%0.42%0.25%0.08%-0.18%-0.39%
Cost of Goods Sold+482.54M1.02B1.56B2.07B2.7B2.83B2.32B1.44B
COGS % of Revenue0.83%0.73%0.67%0.62%0.65%0.63%0.63%0.64%
Gross Profit+99.37M388.63M766.86M1.24B1.44B1.64B1.35B804.5M
Gross Margin %0.17%0.27%0.33%0.38%0.35%0.37%0.37%0.36%
Gross Profit Growth %-2.91%0.97%0.62%0.16%0.14%-0.17%-0.4%
Operating Expenses+1.01B1.62B2.42B2.58B2.77B2.58B1.72B1.11B
OpEx % of Revenue1.74%1.15%1.04%0.78%0.67%0.58%0.47%0.49%
Selling, General & Admin478.31M963.95M1.39B1.46B1.43B1.24B780.32M482.39M
SG&A % of Revenue0.82%0.68%0.6%0.44%0.35%0.28%0.21%0.21%
Research & Development537.23M459.18M956.1M1.17B1.35B1.42B955.2M510.9M
R&D % of Revenue0.92%0.32%0.41%0.35%0.33%0.32%0.26%0.23%
Other Operating Expenses-3.98M200.54M74.25M-58.43M-13.92M-70.82M-17.91M114.74M
Operating Income+-890.3M-1.11B-1.66B-1.47B-1.4B-981.56M-368.21M-303.53M
Operating Margin %-1.53%-0.79%-0.71%-0.44%-0.34%-0.22%-0.1%-0.14%
Operating Income Growth %--0.25%-0.49%0.11%0.04%0.3%0.62%0.18%
EBITDA+-602.75M-760.34M-1.2B-1.38B-965.99M-700.13M-166.87M-203.9M
EBITDA Margin %-1.04%-0.54%-0.51%-0.42%-0.23%-0.16%-0.05%-0.09%
EBITDA Growth %--0.26%-0.57%-0.15%0.3%0.28%0.76%-0.22%
D&A (Non-Cash Add-back)287.55M354.03M459.86M90.4M438.75M281.43M201.34M99.63M
EBIT-891.04M-1B-1.59B-1.82B-1.37B-955M-342.18M-180.54M
Net Interest Income+-75.1M-18.92M-46.57M-73.13M-47.81M-22.46M10.49M55.06M
Interest Income10.61M188.81M128.26M77.24M28.82M14.71M29.58M67.48M
Interest Expense85.59M160.65M174.83M150.36M76.64M37.17M19.09M12.42M
Other Income/Expense-86.33M-49.45M-61.42M-80.93M-37.87M-8.61M157.87M54.2M
Pretax Income+-976.63M-1.16B-1.76B-1.55B-1.44B-990.17M-210.34M-249.34M
Pretax Margin %-1.68%-0.82%-0.76%-0.47%-0.35%-0.22%-0.06%-0.11%
Income Tax+-369.68M26.47M-74.92M-137.13M-112.09M-62.15M9.76M455.37M
Effective Tax Rate %0.62%1.03%0.96%0.87%0.89%0.88%1.72%1.84%
Net Income+-606.96M-1.2B-1.69B-1.35B-1.28B-872.27M-362.71M-459.68M
Net Margin %-1.04%-0.85%-0.72%-0.41%-0.31%-0.2%-0.1%-0.2%
Net Income Growth %--0.97%-0.41%0.2%0.05%0.32%0.58%-0.27%
Net Income (Continuing)-606.96M-1.19B-1.69B-1.41B-1.33B-928.03M-220.1M-704.71M
Discontinued Operations000000-151.37M209.5M
Minority Interest0110.6M150.43M89.91M41.1M-14.65M-18.98M-54.51M
EPS (Diluted)+-27.00-38.70-53.10-38.10-34.80-24.00-9.90-12.60
EPS Growth %--0.43%-0.37%0.28%0.09%0.31%0.59%-0.27%
EPS (Basic)-27.00-38.70-53.10-38.10-34.80-24.00-9.90-12.60
Diluted Shares Outstanding22.37M30.79M31.31M35.49M36.94M36.49M36.32M36.32M
Basic Shares Outstanding22.37M30.79M31.27M35.49M36.83M36.34M36.32M36.32M
Dividend Payout Ratio--------

Balance Sheet

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+2.06B7.86B7.66B8.94B6.9B6.37B5.36B3.4B
Cash & Short-Term Investments1.71B3.11B2.77B5.12B3.96B3.83B3.16B2.4B
Cash Only847.77M565.03M1.08B3.06B1.4B1.91B1.38B1.95B
Short-Term Investments863.27M2.54B1.69B2.06B2.56B1.92B1.78B455.02M
Accounts Receivable43.18M627.48M1.16B1.13B1.74B1.06B809.58M902.07M
Days Sales Outstanding27.09162.03181.77124.61153.3586.9780.57146.46
Inventory309.64M337.21M177.12M39.61M749.15M-690.63M00
Days Inventory Outstanding234.22120.141.426.99101.44---
Other Current Assets238.47M4.25B3.55B2.57B320.47M2.05B1.39B92.3M
Total Non-Current Assets+950.59M1.52B2.27B1.95B2.44B2.51B2.71B569.95M
Property, Plant & Equipment160.95M319.67M314.5M224.28M244.41M151.4M85.08M43.9M
Fixed Asset Turnover3.62x4.42x7.40x14.77x16.91x29.48x43.11x51.22x
Goodwill0126.02M289.16M289.16M289.16M289.16M289.16M157.26M
Intangible Assets367.08M632.06M687.79M627.9M398.03M281.27M182.21M38.38M
Long-Term Investments42.25M34.45M512.28M197.56M825.85M1.02B1.37B0
Other Non-Current Assets10.27M63.12M41M42.07M1.54M0780.26M330.42M
Total Assets+3.02B9.38B9.93B10.89B9.34B8.88B8.07B3.97B
Asset Turnover0.19x0.15x0.23x0.30x0.44x0.50x0.45x0.57x
Asset Growth %-2.11%0.06%0.1%-0.14%-0.05%-0.09%-0.51%
Total Current Liabilities+2.86B5.12B4.94B5.17B5.16B5.45B5.07B1.44B
Accounts Payable208.5M316.5M347M920.24M1.1B753.62M246.56M90.69M
Days Payables Outstanding157.71112.7281.14162.36149.1797.2338.8222.93
Short-Term Debt1.5B3.39B3.22B2.28B815.26M378.39M306.11M19.16M
Deferred Revenue (Current)1000K1000K1000K01000K1000K00
Other Current Liabilities2.13B667.3M380.85M992.02M1.47B1.66B2.93B551.15M
Current Ratio0.72x1.53x1.55x1.73x1.34x1.17x1.06x2.36x
Quick Ratio0.61x1.47x1.51x1.72x1.19x1.30x1.06x2.36x
Cash Conversion Cycle103.59169.41142.05-30.76105.61---
Total Non-Current Liabilities+188.94M429.13M466.86M433.28M343.11M158.01M47.49M23.62M
Long-Term Debt00000000
Capital Lease Obligations84.82M126.87M87.8M48.12M97.47M44.55M28.28M10.67M
Deferred Tax Liabilities-84.82M18.48M33.29M20.08M9.86M5.2M2.08M0
Other Non-Current Liabilities104.12M302.26M379.06M347.4M216.36M88.28M19.2M0
Total Liabilities3.05B5.55B5.41B5.6B5.51B5.6B5.12B1.46B
Total Debt+1.54B3.47B3.22B2.42B970.15M469.97M357.33M43.56M
Net Debt690.37M2.9B2.14B-771.89M-584.11M-1.57B-1.02B-1.9B
Debt / Equity-0.91x0.71x0.46x0.25x0.14x0.12x0.02x
Debt / EBITDA--------
Net Debt / EBITDA--------
Interest Coverage-10.40x-6.94x-9.47x-9.78x-18.33x-26.41x-19.29x-24.44x
Total Equity+-34.88M3.83B4.52B5.29B3.84B3.28B2.95B2.5B
Equity Growth %-110.82%0.18%0.17%-0.27%-0.15%-0.1%-0.15%
Book Value per Share-1.56124.43144.38148.92103.8189.8381.1668.94
Total Shareholders' Equity-34.88M3.72B4.37B5.2B3.79B3.29B2.97B2.56B
Common Stock60K66K73K78K78K78K78K78K
Retained Earnings-1.15B-2.34B-4B-5.36B-6.64B-7.51B-7.87B-8.33B
Treasury Stock00000000
Accumulated OCI1.2B6.15B8.46B10.64B805.37M1.18B1.21B1.19B
Minority Interest0110.6M150.43M89.91M41.1M-14.65M-18.98M-54.51M

Cash Flow

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-228.69M-489.24M-1.82B-704.14M-404.33M-745.98M-648.46M-276.85M
Operating CF Margin %-0.39%-0.35%-0.78%-0.21%-0.1%-0.17%-0.18%-0.12%
Operating CF Growth %--1.14%-2.71%0.61%0.43%-0.84%0.13%0.57%
Net Income-976.63M-1.16B-1.76B-1.55B-1.44B-990.17M-362.71M-39.84M
Depreciation & Amortization287.55M354.03M459.86M421.23M438.75M281.43M201.34M106.9M
Stock-Based Compensation376K7.75M76.36M89.65M25.41M13.36M14.5M1.16M
Deferred Taxes-8.69M188.71M133.69M136.95M88.68M000
Other Non-Cash Items85.59M56.42M62.62M69.46M51.76M29.32M12.55M-121.32M
Working Capital Changes383.12M67.67M-787.55M129.81M433.68M-79.92M-514.13M-223.74M
Change in Receivables-15.82M-218.29M-445.57M-206.37M-123.37M-63.88M185.75M206.32M
Change in Inventory-142.85M115.76M12.47M-559.93M-934.39M000
Change in Payables515.59M130.6M-350.27M451.69M530.1M106.95M-817.51M-785.34M
Cash from Investing+-126.84M-5.81B570.84M1.32B388.44M1.87B318.63M1.11B
Capital Expenditures-17.99M-459.81M-314.46M-265.18M-128.02M-67.94M-5.98M0
CapEx % of Revenue0.03%0.33%0.14%0.08%0.03%0.02%0%0.01%
Acquisitions--------
Investments--------
Other Investing21.57M-3.51B764.11M1.16B1.22B960.21M192.01M1.11B
Cash from Financing+1.13B6B1.75B1.53B-1.61B-694.07M-213.6M-282.25M
Debt Issued (Net)--------
Equity Issued (Net)--------
Dividends Paid00000000
Share Repurchases--------
Other Financing244.31M4.27B2.01B-167.39M-51.6M-18.91M-114.68M-10.99M
Net Change in Cash--------
Free Cash Flow+-246.67M-949.04M-2.13B-969.33M-532.35M-813.93M-685.93M-304.27M
FCF Margin %-0.42%-0.67%-0.92%-0.29%-0.13%-0.18%-0.19%-0.14%
FCF Growth %--2.85%-1.25%0.55%0.45%-0.53%0.16%0.56%
FCF per Share-11.03-30.82-68.09-27.31-14.41-22.30-18.89-8.38
FCF Conversion (FCF/Net Income)0.38x0.41x1.08x0.52x0.32x0.86x1.79x0.60x
Interest Paid00000000
Taxes Paid00000000

Key Ratios

Metric20172018201920202021202220232024
Return on Equity (ROE)--63%-40.41%-27.61%-28.11%-24.53%-11.65%-16.86%
Return on Invested Capital (ROIC)-101.87%-22.62%-18.54%-19.5%-26.16%-28.07%-14.67%-18.03%
Gross Margin17.08%27.49%32.94%37.54%34.77%36.63%36.79%35.79%
Net Margin-104.3%-84.59%-72.49%-40.87%-31.02%-19.54%-9.89%-20.45%
Debt / Equity-0.91x0.71x0.46x0.25x0.14x0.12x0.02x
Interest Coverage-10.40x-6.94x-9.47x-9.78x-18.33x-26.41x-19.29x-24.44x
FCF Conversion0.38x0.41x1.08x0.52x0.32x0.86x1.79x0.60x
Revenue Growth-142.9%64.69%42.29%24.76%8.03%-17.84%-38.7%

Revenue by Segment

201920202021202220232024
Risk Management Services---414.85M320.46M247.83M
Risk Management Services Growth-----22.75%-22.67%
Other Revenue---189.54M75.38M69.64M
Other Revenue Growth-----60.23%-7.60%
Others--182.38M---
Others Growth------
Revenue from guarantee model--191K---
Revenue from guarantee model Growth------
Revenue From Guarantee Model13.66M6.71M----
Revenue From Guarantee Model Growth--50.90%----

Frequently Asked Questions

Growth & Financials

OneConnect Financial Technology Co., Ltd. (OCFT) reported $1.63B in revenue for fiscal year 2024. This represents a 181% increase from $581.9M in 2017.

OneConnect Financial Technology Co., Ltd. (OCFT) saw revenue decline by 38.7% over the past year.

OneConnect Financial Technology Co., Ltd. (OCFT) reported a net loss of $677.2M for fiscal year 2024.

Dividend & Returns

OneConnect Financial Technology Co., Ltd. (OCFT) has a return on equity (ROE) of -16.9%. Negative ROE indicates the company is unprofitable.

OneConnect Financial Technology Co., Ltd. (OCFT) had negative free cash flow of $192.2M in fiscal year 2024, likely due to heavy capital investments.

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