Revenue performance is increasingly unstable, evidenced by a net income collapse to negative $870 million in 2025Q4 alongside a sharp rise in the efficiency ratio to 77.5%.
Yiren Digital Ltd. (YRD) annual income statement — 13-year revenue, gross profit & net income 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 | Dec'14 | Dec'13 |
|---|
| Net Interest Income | 58.61M | 76.62M | 105.48M | 80.75M | 0 | -73.38M | 61.62M | 73.37M | 73.92M | 115.06M | 36.84M | 4.8M | 0 | 0 |
| NII Growth % | -113.36% | -27.36% | 30.62% | - | 100% | -219.08% | -16.01% | -0.74% | -35.76% | 212.3% | 667.72% | - | - | - |
| Net Interest Margin % | 0.61% | 0.57% | 0.81% | 0.79% | 0% | -0.95% | 0.92% | 0.76% | 0.52% | 1.53% | 0.77% | 0.22% | 0% | 0% |
| Interest Income | 58.61M | 76.62M | 105.48M | 80.75M | 0 | 73.38M | 61.62M | 73.37M | 73.92M | 115.06M | 36.84M | 4.8M | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 61.62M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan Loss Provision | 793.87M | 790.16M | 882.96M | 976.17M | 776.84M | 699.24M | 1.1B | 665.08M | 1.06B | 1.24B | 180.08M | 86.36M | 21.82M | 7.61M |
| Non-Interest Income | 4.25B | 5.5B | 5.7B | 4.81B | 3.43B | 4.4B | 3.9B | 8.54B | 11.17B | 11.53B | 3.2B | 1.31B | 196.53M | 18.97M |
| Non-Interest Income % | 98.64% | 98.62% | 98.18% | 98.35% | 100% | 101.69% | 98.44% | 99.15% | 99.34% | 99.01% | 98.86% | 99.64% | 100% | 100% |
| Total Net Revenue | 4.31B | 5.57B | 5.81B | 4.9B | 3.43B | 4.33B | 3.96B | 8.62B | 11.24B | 11.65B | 3.24B | 1.32B | 196.53M | 18.97M |
| Revenue Growth % | -30.11% | -4.03% | 18.59% | 42.54% | -20.7% | 9.32% | -54.02% | -23.37% | -3.48% | 259.79% | 145.59% | 570.88% | 935.73% | - |
| Non-Interest Expense | 3.01B | 2.64B | 3.28B | 1.32B | 1.19B | 2.43B | 2.91B | 6.82B | 9.41B | 10.37B | 1.97B | 816.88M | 202.38M | 61.92M |
| Efficiency Ratio | 69.93% | 47.32% | 56.42% | 27.06% | 34.53% | 56.1% | 73.38% | 79.19% | 83.66% | 89.03% | 60.94% | 61.96% | 102.98% | 326.35% |
| Operating Income | 500.62M | 2.15B | 1.65B | 2.59B | 1.47B | 1.29B | -50M | 1.13B | 776.15M | 35.32M | 1.08B | 415.19M | -27.68M | -50.55M |
| Operating Margin % | 11.63% | 38.5% | 28.37% | 53% | 42.85% | 29.72% | -1.26% | 13.09% | 6.9% | 0.3% | 33.5% | 31.49% | -14.08% | -266.43% |
| Operating Income Growth % | - | 30.25% | -36.52% | 76.29% | 14.33% | 2674.72% | -104.43% | 45.34% | 2097.22% | -96.74% | 161.27% | 1600.08% | 45.25% | - |
| Pretax Income | -1.62B | -56.91M | 1.86B | 2.65B | 1.5B | 1.2B | -773.36M | 1.39B | 1.77B | 193.14M | 1.1B | 403.86M | -27.68M | -50.55M |
| Pretax Margin % | -37.64% | -1.02% | 32.07% | 54.04% | 43.54% | 27.78% | -19.52% | 16.19% | 15.78% | 1.66% | 34.05% | 30.63% | -14.08% | -266.43% |
| Income Tax | -123.78M | -96.33M | 279.18M | 565.16M | 300.51M | 170.19M | -80.61M | 239.23M | 194.29M | 381.21M | -13.95M | 128.52M | 30K | 0 |
| Effective Tax Rate % | 7.64% | 169.27% | 14.99% | 21.36% | 20.1% | 14.15% | 10.42% | 17.15% | 10.95% | 197.38% | -1.27% | 31.82% | -0.11% | 0% |
| Net Income | -1.49B | 39.42M | 1.58B | 2.08B | 1.19B | 1.03B | -692.75M | 1.16B | 1.58B | -188.07M | 1.12B | 275.34M | -27.71M | -50.55M |
| Net Margin % | -34.67% | 0.71% | 27.25% | 42.49% | 34.79% | 23.85% | -17.48% | 13.41% | 14.05% | -1.61% | 34.48% | 20.88% | -14.1% | -266.43% |
| Net Income Growth % | -215.54% | -97.51% | -23.94% | 74.09% | 15.67% | 249.11% | -159.95% | -26.85% | 939.99% | -116.85% | 305.46% | 1093.72% | 45.19% | - |
| Net Income (Continuing) | -1.5B | 39.42M | 1.58B | 2.08B | 1.19B | 1.03B | -692.75M | 1.16B | 1.58B | -188.07M | 1.12B | 275.34M | -27.71M | -50.55M |
| EPS (Diluted) | -17.06 | 0.90 | 18.11 | 23.28 | 13.63 | 12.11 | -7.68 | 12.39 | 10.38 | -3.04 | 18.77 | 5.47 | -0.48 | -0.86 |
| EPS Growth % | -215.11% | -95.03% | -22.21% | 70.8% | 12.55% | 257.68% | -161.99% | 19.36% | 441.45% | -116.2% | 243.14% | 1239.58% | 44.19% | - |
| EPS (Basic) | - | 0.90 | 18.27 | 23.54 | 13.68 | 12.22 | -7.68 | 12.48 | 10.49 | -3.10 | 18.88 | 5.47 | -0.48 | -0.86 |
| Diluted Shares Outstanding | 87.49M | 87.34M | 87.36M | 89.34M | 85.3M | 85.3M | 90.15M | 93.27M | 93.14M | 61.81M | 59.47M | 50.33M | 58.5M | 58.5M |
Quick answers to the most common questions about buying YRD stock.
For fiscal year 2025, Yiren Digital Ltd. (YRD) reported total revenue of $5.57B. This represents a 29266.7% increase compared to $19.0M in 2013.
Yiren Digital Ltd. (YRD) is profitable, generating $39.4M in net income for the fiscal year ending 2025 with a net profit margin of 0.7%.
Yiren Digital Ltd. (YRD) reported an operating income of $2.15B, resulting in an operating profit margin of 38.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Yiren Digital Ltd. (YRD) generated $4.78B in gross profit for the year, representing a gross profit margin of 85.8%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Regulatory and Credit Volatility
Net Interest Income Structural Erosion
As reported in recent financial filings, YRD's net interest income has experienced a severe contraction, plummeting to $14.3 million in 2025Q4 from $31.2 million in 2024Q4, reflecting a fundamental shift away from interest-bearing assets toward a fee-heavy, transactional model that remains highly sensitive to macro-economic headwinds.
The consistent decline in NII suggests that the firm is intentionally de-risking its balance sheet by moving away from direct lending exposure. Investors should monitor whether this transition is a strategic pivot to mitigate credit risk or a forced retreat due to tightening regulatory interest rate caps.
Operational Efficiency Under Significant Pressure
Based on the company's latest quarterly data, the efficiency ratio deteriorated sharply to 77.5% in 2025Q4, a marked increase from the 31.6% observed in 2023Q4, indicating that the cost of maintaining the platform is rising faster than the revenue generated from its core service offerings.
This spike in the efficiency ratio suggests that YRD is struggling to maintain operating leverage as revenue growth stalls. The inability to scale administrative and marketing expenses in line with top-line performance may imply that the current business model requires excessive overhead to sustain its remaining market share.
Provisioning Volatility Masks Earnings Quality
According to the provided income statement data, provision expenses reached $256.8 million in 2025Q4, representing a significant escalation from the $184.7 million recorded in 2023Q4, which suggests that the firm is grappling with deteriorating asset quality within its legacy loan facilitation portfolio.
The persistent need for high provision levels relative to total revenue implies that the underlying credit risk of the borrower base may be worsening. This trend warrants further investigation into whether the current provisioning models are sufficient to cover potential losses in a cooling Chinese consumer credit environment.
Fee-Dependent Revenue Lacks Stability
Financial statements indicate that non-interest fee income continues to dominate the revenue mix at 98.5% as of 2025Q4, highlighting a near-total reliance on transactional facilitation fees that appear increasingly vulnerable to regulatory shifts and declining consumer demand for credit and wealth management products.
While the high fee percentage reflects a capital-light model, it also exposes the firm to extreme cyclicality and regulatory scrutiny regarding fee caps. The lack of diversification away from these transactional streams suggests that YRD remains highly susceptible to sudden changes in the competitive landscape of Chinese fintech.
Net Margin Compression Signals Risk
As evidenced by the 2025Q4 results, the collapse to a negative $870 million net income from a positive $317.6 million in 2025Q3 suggests that significant non-operating charges or tax adjustments are effectively neutralizing the firm's operational gains, raising questions about the sustainability of its current earnings profile.
The massive divergence between operating income and net income suggests that the company's bottom line is highly sensitive to accounting adjustments or impairment charges. Investors should be wary of whether this volatility is a recurring feature of the firm's financial structure or a one-time event that masks the true underlying profitability.