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Sohu.com Limited (SOHU) 10-Year Financial Performance & Capital Metrics

SOHU • • Industrial / General
TechnologyGaming & MultimediaGaming Platforms & ServicesGaming Platform Operators
AboutSohu.com Limited provides online media, video, and game products and services on PCs and mobile devices in China. The company offers online news, information, and content services through the mobile phone application Sohu News APP, mobile portal m.sohu.com, and www.sohu.com for PCs; and online video content and services through mobile phone application Sohu Video APP and tv.sohu.com, and ifox, a PC video application. The company is also involved in the development, operation, and licensing of online games for PCs and mobile devices, which include massive multiplayer online role-playing games, and casual and strategy games. In addition, it operates focus.cn, which provides online real estate information and services; and 17173.com website, which provides news, electronic forums, online videos, and other online game information services to game players, as well as offers mobile game distribution services. Further, the company provides paid subscription services, interactive broadcasting services, and sub-licensing of purchased video content to third parties. Sohu.com Limited was incorporated in 1996 and is headquartered in Beijing, China.Show more
  • Revenue $598M -0.4%
  • EBITDA -$85M -48.5%
  • Net Income -$100M -230.1%
  • EPS (Diluted) -3.13 -251.7%
  • Gross Margin 72.29% -4.6%
  • EBITDA Margin -14.16% -49.0%
  • Operating Margin -18.28% -25.8%
  • Net Margin -16.76% -231.3%
  • ROE -10.12% -261.4%
  • ROIC -10.67% +3.3%
  • Debt/Equity 0.04 +4.1%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Share count reduced 6.2% through buybacks
  • ✓Healthy 5Y average net margin of 15.1%
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by 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-9.77%
5Y-2.35%
3Y-10.53%
TTM-8.27%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM330.94%

EPS CAGR

10Y-
5Y-
3Y-
TTM254.07%

ROCE

10Y Avg-2.63%
5Y Avg-0.49%
3Y Avg-4.37%
Latest-7.41%

Peer Comparison

Gaming Platform Operators
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NCTYThe9 Limited96.94M6.50-0.41-37.61%-17.89%-12.17%0.32
SOHUSohu.com Limited492.17M16.37-5.23-0.38%22.66%11.72%0.04
BILIBilibili Inc.10.86B33.12-10.2519.1%0.75%1.56%39.23%0.36
RBLXRoblox Corporation55.43B84.65-58.7828.68%-21.7%-248.22%1.16%8.65

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+1.94B1.65B1.86B1.88B673.8M749.89M835.58M733.87M600.67M598.4M
Revenue Growth %0.16%-0.15%0.13%0.01%-0.64%0.11%0.11%-0.12%-0.18%-0%
Cost of Goods Sold+859.06M859.8M1.04B1.07B239.65M217.44M204.67M191.57M145.76M165.83M
COGS % of Revenue0.44%0.52%0.56%0.57%0.36%0.29%0.24%0.26%0.24%0.28%
Gross Profit+1.08B790.63M825.8M811.31M434.16M532.45M630.9M542.3M454.92M432.57M
Gross Margin %0.56%0.48%0.44%0.43%0.64%0.71%0.76%0.74%0.76%0.72%
Gross Profit Growth %0.09%-0.27%0.04%-0.02%-0.46%0.23%0.18%-0.14%-0.16%-0.05%
Operating Expenses+955.23M907.76M948.09M955.46M505.35M459.08M533.43M543.17M542.23M541.97M
OpEx % of Revenue0.49%0.55%0.51%0.51%0.75%0.61%0.64%0.74%0.9%0.91%
Selling, General & Admin557.09M554.62M535.92M514.3M259.26M217.14M264.57M282.4M262.38M286.73M
SG&A % of Revenue0.29%0.34%0.29%0.27%0.38%0.29%0.32%0.38%0.44%0.48%
Research & Development398.14M353.14M412.17M441.16M234.85M241.94M268.86M260.77M279.84M255.23M
R&D % of Revenue0.21%0.21%0.22%0.23%0.35%0.32%0.32%0.36%0.47%0.43%
Other Operating Expenses006.66M011.24M00000
Operating Income+82.47M-117.13M-209.18M-144.16M-71.2M73.37M97.47M-873K-87.31M-109.4M
Operating Margin %0.04%-0.07%-0.11%-0.08%-0.11%0.1%0.12%-0%-0.15%-0.18%
Operating Income Growth %1.4%-2.42%-0.79%0.31%0.51%2.03%0.33%-1.01%-99.01%-0.25%
EBITDA+319.83M87.5M14.82M7.96M-4.13M113.22M133.43M30.43M-57.06M-84.73M
EBITDA Margin %0.17%0.05%0.01%0%-0.01%0.15%0.16%0.04%-0.1%-0.14%
EBITDA Growth %90.43%-0.73%-0.83%-0.46%-1.52%28.41%0.18%-0.77%-2.88%-0.48%
D&A (Non-Cash Add-back)237.37M204.63M224M152.11M67.07M39.85M35.96M31.3M30.25M24.67M
EBIT192.97M-92.55M-192.77M-118.35M-59.95M74.87M139.07M-873K-87.31M-101.64M
Net Interest Income+23.46M21.14M20.05M-1.5M5.85M1.14M8.14M17.31M45.22M38.63M
Interest Income23.46M22.5M24.14M16.04M6.1M7.37M15.64M17.31M45.22M38.63M
Interest Expense01.36M4.09M17.54M14.37M6.23M7.5M000
Other Income/Expense91.41M23.23M12.36M32.5M1.13M23.33M34.09M41.48M81.66M61.23M
Pretax Income+185.79M-93.9M-196.85M-80.79M-70.07M96.7M131.57M40.6M-5.65M-48.17M
Pretax Margin %0.1%-0.06%-0.11%-0.04%-0.1%0.13%0.16%0.06%-0.01%-0.08%
Income Tax+76.94M21.07M273.15M-13.43M28.43M133.23M62.3M57.95M60.42M52.07M
Effective Tax Rate %-0.27%2.39%2.82%0.83%2.13%-0.89%7.05%-0.43%5.38%2.08%
Net Income+-49.6M-224.02M-554.53M-67.36M-149.34M-86.11M927.73M-17.34M-30.38M-100.27M
Net Margin %-0.03%-0.14%-0.3%-0.04%-0.22%-0.11%1.11%-0.02%-0.05%-0.17%
Net Income Growth %0.7%-3.52%-1.48%0.88%-1.22%0.42%11.77%-1.02%-0.75%-2.3%
Net Income (Continuing)96.94M-114.97M-449.47M-121.31M-98.5M-36.53M69.27M-17.34M-66.07M-100.24M
Discontinued Operations00007.39M-31.14M864.9M035.43M0
Minority Interest489.73M564.22M1.07B964.11M878.46M684.61M1.32M1.27M322K353K
EPS (Diluted)+-1.28-5.79-14.27-1.73-0.24-2.1923.49-0.50-0.89-3.13
EPS Growth %0.7%-3.52%-1.46%0.88%0.86%-8.13%11.73%-1.02%-0.78%-2.52%
EPS (Basic)-1.32-5.83-14.30-1.74-0.24-2.1923.49-0.50-0.89-3.13
Diluted Shares Outstanding38.6M38.71M38.86M38.96M39.25M39.45M39.5M34.95M34.11M32.01M
Basic Shares Outstanding37.66M38.42M38.77M38.75M39.25M39.45M39.5M34.95M34.11M32.01M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+2.08B1.85B2.63B2.32B2.02B2.25B1.59B1.33B1.12B1.04B
Cash & Short-Term Investments1.42B1.3B2.19B1.86B1.62B648.59M1.4B1.17B960.27M904.42M
Cash Only1.25B1.05B1.37B819.71M305.13M547.85M998.95M697.82M362.5M159.93M
Short-Term Investments174.51M247.93M818.93M1.04B1.32B100.75M399.35M473.62M597.77M744.5M
Accounts Receivable273.62M189.17M250.47M397.12M129.52M131.59M122.4M67.54M106.87M87.23M
Days Sales Outstanding51.5641.8449.1376.9870.1664.0553.4733.5964.9453.21
Inventory370.73M352.64M179.5M12.73M4.19M003.64M00
Days Inventory Outstanding157.52149.763.294.336.38--6.94--
Other Current Assets357.75M321.44M138.28M261.28M225.35M1.42B9.63M43.23M9.79M5.81M
Total Non-Current Assets+962.68M712.43M759.14M981.95M674.12M567.25M655.66M652.06M765.05M692.9M
Property, Plant & Equipment508.69M503.63M529.72M505M447.69M337.67M330M288.23M272.41M252.86M
Fixed Asset Turnover3.81x3.28x3.51x3.73x1.51x2.22x2.53x2.55x2.21x2.37x
Goodwill154.22M68.29M71.56M53.26M52.92M48.43M48.81M47.41M47.16M46.94M
Intangible Assets55.41M32.13M23.06M24.12M11.44M4.84M9.14M5.39M2.23M7.7M
Long-Term Investments62.09M74.27M90.14M108.36M94.33M133.15M242.13M291.81M433.81M374.41M
Other Non-Current Assets176.01M29.37M40.44M291.21M65.86M43.15M25.59M19.21M769K10.99M
Total Assets+3.04B2.56B3.39B3.3B2.69B2.82B2.25B1.98B1.88B1.73B
Asset Turnover0.64x0.64x0.55x0.57x0.25x0.27x0.37x0.37x0.32x0.34x
Asset Growth %0.06%-0.16%0.32%-0.03%-0.18%0.05%-0.2%-0.12%-0.05%-0.08%
Total Current Liabilities+1.26B932.74M1.16B1.18B1.1B1.28B503.45M416.89M342.39M321.97M
Accounts Payable129.03M193.21M288.39M286.75M121.32M107.61M87.45M56.45M44.61M36.04M
Days Payables Outstanding54.8282.02101.6997.66184.78180.64155.95107.55111.7179.33
Short-Term Debt357.5M28.68M92.41M162.4M148.06M350.78M34.12M34.12M34.12M34.12M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities557.32M283.56M318.18M399.79M464.15M645.45M53.23M204.83M149.26M32.31M
Current Ratio1.64x1.98x2.28x1.96x1.83x1.76x3.16x3.18x3.26x3.24x
Quick Ratio1.35x1.61x2.12x1.95x1.83x1.76x3.16x3.17x3.26x3.24x
Cash Conversion Cycle154.25109.5210.73-16.35-108.24---67.02--
Total Non-Current Liabilities+46.86M73.15M416.6M562.68M284.08M505.41M450.15M450.18M480.43M490.01M
Long-Term Debt00122.43M302.32M092M003.92M0
Capital Lease Obligations0000000340K2.13M1.66M
Deferred Tax Liabilities17.53M39.78M293.01M259.6M277.54M217.59M249.16M247.81M261.51M273.7M
Other Non-Current Liabilities4.45M33.37M219.68M260.36M6.54M195.82M200.98M202.36M218.91M214.65M
Total Liabilities1.31B1.01B1.57B1.75B1.38B1.79B953.6M867.07M822.82M811.98M
Total Debt+344.5M28.68M183.65M432M114.53M442.78M36.12M36.5M41.36M37.51M
Net Debt-900.71M-1.02B-1.18B-387.71M-190.6M-105.07M-962.83M-661.32M-321.14M-122.42M
Debt / Equity0.20x0.02x0.10x0.28x0.09x0.43x0.03x0.03x0.04x0.04x
Debt / EBITDA1.08x0.33x12.39x54.28x-3.91x0.27x1.20x--
Net Debt / EBITDA-2.82x-11.68x-79.80x-48.72x--0.93x-7.22x-21.74x--
Interest Coverage--86.38x-51.17x-8.22x-4.95x11.77x13.00x---
Total Equity+1.73B1.56B1.82B1.55B1.31B1.03B1.29B1.11B1.06B922.69M
Equity Growth %0.02%-0.1%0.17%-0.15%-0.16%-0.21%0.25%-0.14%-0.05%-0.13%
Book Value per Share44.8440.2546.7739.8633.3026.1632.7131.7831.0628.83
Total Shareholders' Equity1.24B993.58M750.63M588.84M428.45M347.37M1.29B1.11B1.06B922.34M
Common Stock45K45K45K39K39K39K39K34K34K30K
Retained Earnings536.33M312.31M-242.22M-394.8M-544.14M-634.59M293.13M275.79M245.41M145.14M
Treasury Stock-143.86M-143.86M-143.86M000-18.78M0-6.56M-4.64M
Accumulated OCI50.15M3.22M38.21M24.72M24.35M29.19M51.15M-32.84M-46.48M-58.15M
Minority Interest489.73M564.22M1.07B964.11M878.46M684.61M1.32M1.27M322K353K

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+506.05M239.62M183.78M84.03M210.59M95.21M-62.28M32.24M-25.57M-48.02M
Operating CF Margin %0.26%0.15%0.1%0.04%0.31%0.13%-0.07%0.04%-0.04%-0.08%
Operating CF Growth %2.32%-0.53%-0.23%-0.54%1.51%-0.55%-1.65%1.52%-1.79%-0.88%
Net Income108.86M-114.97M-470M-67.36M-43.39M-128.32M934.17M-17.34M-30.38M-100.27M
Depreciation & Amortization237.37M204.63M224M152.39M132.44M39.85M35.96M31.3M30.25M24.67M
Stock-Based Compensation53.44M19.12M41.47M2.09M18.25M14.48M8.58M4.94M708K-30K
Deferred Taxes-567K18.82M165.5M43.8M76.6M-56.51M-174.76M21.86M00
Other Non-Cash Items968K-1.18M-1.06M-21.56M32M91.4M-865.81M-12.23M-31.73M14.93M
Working Capital Changes105.99M113.21M223.89M-25.34M-5.31M134.31M-414K3.71M5.59M12.68M
Change in Receivables-61.92M62.52M-55.06M-14.83M15.27M39.98M444K4.5M-4.4M15.72M
Change in Inventory147.9M13.3M29.24M14.83M-15.27M-4.84M-29.97M0-12.24M0
Change in Payables2.21M40.27M33.4M60.15M-9.75M-3.36M-904K-17.55M-5.49M-7.5M
Cash from Investing+-69.77M-50.74M-714.5M-459.24M-443.22M419.77M516.73M-232.79M-291.67M-113.36M
Capital Expenditures-243.29M-288.85M-145.32M-199.38M-96.76M-33.78M-42.21M-23.84M-3.23M-1.31M
CapEx % of Revenue0.13%0.18%0.08%0.11%0.14%0.05%0.05%0.03%0.01%0%
Acquisitions----------
Investments----------
Other Investing7.26M410.38M69.91M-31.78M22.99M28.91M37.99M6.3M-11.62M-17.96M
Cash from Financing+-43.12M-327.93M801.98M96.33M-513.16M93.59M-434.1M-82.14M-6.56M-40.88M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing15.77M16.57M619.44M-88.39M-141.19M-200.01M-9.13M000
Net Change in Cash----------
Free Cash Flow+262.76M-49.23M38.47M-115.35M113.83M61.43M-104.48M8.4M-43.98M-67.94M
FCF Margin %0.14%-0.03%0.02%-0.06%0.17%0.08%-0.13%0.01%-0.07%-0.11%
FCF Growth %5.54%-1.19%1.78%-4%1.99%-0.46%-2.7%1.08%-6.23%-0.54%
FCF per Share6.81-1.270.99-2.962.901.56-2.650.24-1.29-2.12
FCF Conversion (FCF/Net Income)-10.20x-1.07x-0.33x-1.25x-1.41x-1.11x-0.07x-1.86x0.84x0.48x
Interest Paid7.24M965K7.18M12.56M12.95M3.78M7.63M000
Taxes Paid43.99M25.18M43.26M38.74M27.78M35.7M46.15M39.64M28.05M16.79M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-2.9%-13.62%-32.86%-4%-10.44%-7.36%79.83%-1.44%-2.8%-10.12%
Return on Invested Capital (ROIC)6.15%-12.87%-26.81%-12.01%-4.68%5.39%11.64%-0.17%-11.03%-10.67%
Gross Margin55.65%47.9%44.37%43.09%64.43%71%75.51%73.9%75.73%72.29%
Net Margin-2.56%-13.57%-29.8%-3.58%-22.16%-11.48%111.03%-2.36%-5.06%-16.76%
Debt / Equity0.20x0.02x0.10x0.28x0.09x0.43x0.03x0.03x0.04x0.04x
Interest Coverage--86.38x-51.17x-8.22x-4.95x11.77x13.00x---
FCF Conversion-10.20x-1.07x-0.33x-1.25x-1.41x-1.11x-0.07x-1.86x0.84x0.48x
Revenue Growth15.78%-14.8%12.76%1.19%-64.22%11.29%11.43%-12.17%-18.15%-0.38%

Revenue by Segment

2015201620172018201920202021202220232024
Entertainment-------585.42M479.7M502.39M
Entertainment Growth---------18.06%4.73%
Advertising--------88.69M73.47M
Advertising Growth----------17.17%
Product and Service, Other-------45.22M32.29M22.55M
Product and Service, Other Growth---------28.59%-30.17%
Brand Advertising-------103.23M--
Brand Advertising Growth----------
Tian Long Ba Bu, MMOG315.6M219.7M197.7M--309.7M421.7M---
Tian Long Ba Bu, MMOG Growth--30.39%-10.01%---36.16%---
Legacy TLBB--139.5M--88.3M79.5M---
Legacy TLBB Growth-------9.97%---
Mobile Games---151.74M172.72M-----
Mobile Games Growth----13.83%-----
Others---168.64M156.82M-----
Others Growth-----7.00%-----
Focus---31.14M32.12M-----
Focus Growth----3.13%-----

Frequently Asked Questions

Growth & Financials

Sohu.com Limited (SOHU) reported $549.0M in revenue for fiscal year 2024. This represents a 36% decrease from $852.1M in 2011.

Sohu.com Limited (SOHU) saw revenue decline by 0.4% over the past year.

Yes, Sohu.com Limited (SOHU) is profitable, generating $124.4M in net income for fiscal year 2024 (-16.8% net margin).

Dividend & Returns

Sohu.com Limited (SOHU) has a return on equity (ROE) of -10.1%. Negative ROE indicates the company is unprofitable.

Sohu.com Limited (SOHU) had negative free cash flow of $67.9M in fiscal year 2024, likely due to heavy capital investments.

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