Yatsen Holding Limited (YSG) Revenue History
Annual and quarterly revenue from 2018 to present
YSG Revenue Over Time (2018–2025)
YSG Revenue Growth History
5 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- +358.0%
- FY2020 revenue growth
- +63.7%
- FY2021 revenue growth
- +16.5%
- FY2022 revenue growth
- -34.6%
- FY2023 revenue growth
- -9.5%
- FY2024 revenue growth
- +0.8%
- FY2025 revenue growth
- +21.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $1.36B | +16.7% |
| Q3 2025 | $993.2M | +50.0% |
| Q2 2025 | $1.08B | +35.0% |
| Q1 2025 | $831.9M | +7.0% |
| Q4 2024 | $1.17B | +10.9% |
| Q3 2024 | $662.1M | -8.5% |
| Q2 2024 | $797.2M | -10.0% |
| Q1 2024 | $777.8M | +1.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
YSG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
YSG Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 24, 2026, Yatsen Holding Limited (YSG) generated trailing twelve-month (TTM) revenue of $4.26 billion, reflecting strong growth of +16.7% year-over-year. The most recent quarter (Q4 2025) recorded $1.36 billion in revenue, up 37.0% sequentially.
Historical Growth Trajectory
YSG's 5-year compound annual growth rate (CAGR) stands at -3.3%, indicating revenue contraction over this period. The 3-year CAGR of +3.5% exceeds the 5-year average, indicating an acceleration in the most recent period. Yatsen Holding Limited's highest annual revenue of $5.76 billion was recorded in 2021.
Revenue by Segment
YSG's revenue is primarily driven by Other Operating Segment (100%). With over half of revenue concentrated in Other Operating Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including COTY (-3.6% YoY), ELF (+24.6% YoY), and REVG (-3.2% YoY) — YSG has outperformed the peer group in revenue growth. Compare YSG vs COTY →
YSG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| YSGCurrent | $4.3B | +16.7% | -3.3% | -4.3% | |
 COTY | $5.9B | -3.6% | +4.5% | 4.1% | |
 ELF | $1.6B | +24.6% | +38.8% | 8.0% | |
 REVG | $2.5B | -3.2% | +1.6% | 7.8% | |
 IPAR | $1.5B | +1.9% | +22.5% | 18.2% | |
 SKIN | $301M | -8.2% | +20.4% | -6.9% |
YSG Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.18B | +21.5% | $3.31B | 79.2% | $-180,732,068 | -4.3% |
| 2024 | $3.44B | +0.8% | $2.65B | 77.1% | $-427,792,324 | -12.4% |
| 2023 | $3.41B | -9.5% | $2.51B | 73.6% | $-559,240,436 | -16.4% |
| 2022 | $3.77B | -34.6% | $2.56B | 68.0% | $-945,212,943 | -25.1% |
| 2021 | $5.76B | +16.5% | $3.85B | 66.8% | $-1,603,215,295 | -27.8% |
| 2020 | $4.95B | +63.7% | $3.18B | 64.3% | $-2,536,227,336 | -51.3% |
| 2019 | $3.02B | +358.0% | $1.92B | 63.6% | $143.4M | 4.7% |
| 2018 | $660.1M | - | $419.0M | 63.5% | $-34,613,448 | -5.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
YSG — Frequently Asked Questions
Quick answers to the most common questions about buying YSG stock.
Is YSG's revenue growth accelerating or slowing?
YSG revenue growth is accelerating. TTM revenue reached $4.3B, up +16.7% year-over-year — ahead of the 5-year CAGR of -3.3%. This indicates the business is expanding faster than its historical baseline.
What is YSG's revenue history from 2018 to 2026?
Yatsen Holding Limited (YSG) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $4.3B, growing at +16.7% YoY. The 5-year CAGR is -3.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is YSG's long-term revenue growth rate (CAGR)?
Yatsen Holding Limited's 5-year revenue CAGR of -3.3% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +16.7% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for YSG.
Why does YSG's quarterly revenue fluctuate?
YSG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Yatsen Holding Limited's revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is YSG's revenue distributed by segment?
YSG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does YSG's revenue compare to industry peers?
Yatsen Holding Limited (YSG) with TTM revenue of $4.3B and +16.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.