profit from every $100 of sales.
$0$100
The9
$2.72-2.16% today
-64.6% in 1 year
1-year low $2.541-year high $8.22
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What The9 sold, what it kept, and what it did with the cash.
Sales went from CN¥105 million in 2022 to CN¥108 million in 2025, with -CN¥402 million of profit last year.
SalesProfit
The9 vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| The9 | No profit yet | ||
 NetEase | 15.4× · Fair price | ||
 Nintendo | 34.6× · Expensive | ||
 Electronic Arts | 59.7× · Expensive | ||
 Take-Two Interactive Software | No profit yet |
AI analysis
An AI analyst reads The9's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of CNY | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 105 | 174 | 112 | 108 | |
| -47 | -39 | -2 | 2 | |
| -413 | -240 | -161 | -248 | |
| -579 | -26 | 23 | -370 | |
| -975 | 20 | -73 | -402 | |
| -408.00 | 6.00 | -15.00 | -54.00 | |
| -45.2% | -22.5% | -1.4% | 1.7% | |
| -393.8% | -137.7% | -143.7% | -229.6% | |
| -929.1% | 11.5% | -65.7% | -373.0% |
Balance sheet
| In millions of CNY | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 599 | 364 | 637 | 594 |
| Cash | 58 | 45 | 11 | 58 |
| Total debt | 76 | 75 | 137 | 235 |
| Total liabilities | 572 | 182 | 209 | 351 |
| 45 | 206 | 441 | 264 | |
| 2 | 3 | 5 | 8 | |
| -435.9% | -31.7% | -5.2% | -61.0% | |
| -2,151.6% | 9.7% | -16.6% | -152.7% |
Cash flow
| In millions of CNY | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| -154 | -46 | -44 | -32 | |
| 249 | 2 | 18 | 12 | |
| -403 | -48 | -62 | -44 | |
| Dividends paid | – | – | – | – |
| – | – | – | – | |
| 202 | 71 | 45 | 116 |
Valuation
- –
- –
- –
- 2.1×
- 2.6×
- –
- –
- -15.8%
- -145.2%
- 0.0%
Profitability
- 1.7%
- -229.6%
- -373.0%
- -230.9%
- -7.2%
- -203.9%
- -34.1%
- -9.5%
- -13.8%
- 9.2%
Growth
- +0.9%
- –
- +48.1%
- –
- +44.2%
Financial health
- –
- 0.89
- 39.5%
- -10.6×
- 1.00
- 1.00
- 0.03
How it ranks in Technology
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 10%of 974
Bottom 26%of 982
Bottom 2%of 985
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| Apr 27, 2026 | -3.06 | – | – |
| Apr 28, 2025 | -0.00 | – | – |
| Apr 21, 2025 | -0.01 | – | – |
| May 6, 2024 | 0.04 | – | – |
| Jun 30, 2023 | -0.04 | – | – |
| May 1, 2023 | -0.07 | – | – |
| Jun 30, 2022 | -0.13 | – | – |
| Apr 4, 2022 | -0.07 | – | – |
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
5No pass
Benjamin Graham
32No pass
Philip Fisher
13No pass
Peter Lynch
22No pass
Joel Greenblatt
0No pass
Charlie Munger
6No pass
Terry Smith
4No pass
Questions about The9
Is The9 a good stock to buy?
A business with weak numbers that is not profitable yet. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the The9 AI analysis
What does The9 do?
The9 Limited, together with its subsidiaries, operates as an Internet company in the People's Republic of China. It is in Electronic Gaming & Multimedia.
Does The9 pay a dividend?
No. The9 does not pay a dividend at the moment.
Is The9 stock halal?
No. The9 does not pass our halal screen: its debt is 85% of its market value, at or above the 33% limit. How we check
How has The9 stock done over the past year?
Down 64.6% over the past twelve months, to $2.72. It traded between $2.54 and $8.22 and is 66.9% below its high.
Who are The9's competitors?
The largest listed companies in the same industry are NetEase, Nintendo, Electronic Arts and Take-Two Interactive Software. The peers table on this page compares their profit, growth and price with The9's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.