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So-Young International Inc.

$2.18 ▲ +0.07 (+3.32%) at close

9 Visible periods

27 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Weak

Moderately Bearish

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Analytical Summary

So-Young International Inc. faces fundamental challenges with weakness in Profit Margin (%) and Operating Margin (%). Investors should exercise caution and monitor for improvement in key metrics.

Market Cap $169.7M

Dividend Yield —

Revenue Growth 8.4% ↗

Op. Margin -18.8% ↗

ROIC -18.5% ↗

FCF / Share $-0.19 ↘

Trailing P/E —

Price / Book 0.8x

FCF Yield —

Debt / Equity 0.03

info Valuation on last close. End-of-day price, Aug 7, 2026.

9-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$217.84M

↑ +8.4% —

Net Income Profit after all expenses

$-34.65M

↑ +57.1% —

Operating Margin Operating profit as % of sales

-18.8%

↑ +55.9% 10th

FCF / Share Free cash flow per share

$-0.19

↓ -337.8% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns ↓

Financial Health ↑

Cash Quality

Financial view

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📈 Is growth accelerating? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Revenue Growth YoY (%)	8.4% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-30%)	-4.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-140%)	15.7% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+31%)	-31.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-361%)	33.8% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+182%)	20.0% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+66%)	—	—	—
Net Income Growth YoY (%)	57.1% Excellent Excellent Year-over-year change in net income	N/M	N/M	-622.7% Weak Weak Year-over-year change in net income	N/M	-96.5% Weak Weak Year-over-year change in net income	—	—	—
FCF Growth YoY (%)	-337.8% Weak Weak Year-over-year change in free cash flow	N/M	N/M	N/M	-51.9% Weak Weak Year-over-year change in free cash flow	-63.7% Weak Weak Year-over-year change in free cash flow	—	—	—
Revenue CAGR 3Y (%)	6.1% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	-8.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	2.1% Caution Caution Compound annual revenue growth over 3 years	3.3% Caution Caution Compound annual revenue growth over 3 years	—	—	—	—	—
Revenue CAGR 5Y (%)	1.9% Caution Caution Compound annual revenue growth over 5 years	4.0% Caution Caution Compound annual revenue growth over 5 years	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Operating Margin (%) (%)	-18.8% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-194%)	-42.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-313%)	-4.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-120%)	-8.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-141%)	-1.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-110%)	-4.4% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-122%)	12.6% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	—	—
Effective Tax Rate (%) (%)	-0.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-229.8% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.1% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-129.4% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-4886.7% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.0% Fair Fair Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—
Profit Margin (%) (%)	-15.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-206%)	-40.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-368%)	1.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-91%)	-5.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-135%)	-0.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-103%)	0.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-97%)	15.3% Good Good Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	—	—
FCF Margin (%) (%)	-6.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-1.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	1.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-9.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	13.8% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	33.3% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—	—
FCF / Net Income (x)	0.43x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.04x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	1.06x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.72x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	-10.06x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	30.82x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	2.17x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Return on Invested Capital (%)	-18.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-33.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-3.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-3.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-108.9% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	4.3% Caution Caution Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	-10.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-22.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.9% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-3.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	4.5% Caution Caution Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-15.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-184%)	-32.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-273%)	0.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-95%)	-2.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-114%)	-0.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-102%)	0.2% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-99%)	6.7% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-64%)	—	—

⚖️ Is the balance sheet risky? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Debt to Equity (x)	0.03x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-94%)	0.04x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	0.01x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	—	—	—	—	—	—
Net Debt (USD)	$-54.11M	$-70.96M	$-55.82M	$-100.68M	$-209.01M	$-172.73M	$-127.08M	—	—
Debt / EBITDA (x)	-0.17x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.12x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.99x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—

📊 What does each share earn? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Revenue per Share (USD)	$2.80	$2.53	$2.72	$2.21	$3.25	$2.43	$2.79	—	—
Free Cash Flow per Share (USD)	$-0.19	$-0.04	$0.04	$-0.20	$0.16	$0.34	$0.93	—	—
Book Value per Share (USD)	$2.85	$3.17	$4.43	$4.38	$4.70	$5.67	$6.39	—	—
Tangible Book Value per Share (USD)	$2.59	$2.95	$3.19	$3.14	$3.29	$5.43	$6.39	—	—
Basic Weighted Avg Shares (shares)	77.86M	79.38M	77.65M	82.67M	81.68M	81.53M	59.36M	24.56M	26.88M

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Working Capital (USD)	$100.18M	$149.90M	$166.41M	$199.91M	$206.35M	$341.02M	$357.74M	—	—
Total Equity (USD)	$222.12M	$251.96M	$344.25M	$362.16M	$383.86M	$397.91M	$379.59M	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗
Sales/Revenue/Turnover (USD)	$217.84M	$200.94M	$210.99M	$182.38M	$265.58M	$198.47M	$165.42M	—	—
Depreciation Expense (USD)	$8.18M	$6.29M	$6.49M	$6.83M	$4.72M	$2.16M	$880.00K	—	—
Net Income, GAAP (USD)	$-34.65M	$-80.76M	$3.00M	$-9.50M	$-1.31M	$891.00K	$25.38M	—	—
Operating Cash Flow (USD)	$-15.07M	$-3.51M	$3.17M	$-16.36M	$13.23M	$27.46M	$55.13M	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 9 years · 7 quarters

So-Young International Inc.

Analytical Summary

9-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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