Qfin Holdings, Inc.
QFIN, QFNHF · Finance Services · EDGAR filings ↗
Reference price $14.41 — last insider purchase, 2026-06-09 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B78Highly profitable China consumer-credit fintech with top-decile cash generation, tempered by severe regulatory overhang.
Strengths
- Operating margin 34.8% (92.7th pct), OCF margin 57.7% (95th), gross margin 84.4% (84.3rd)
- $7.5B cash (97.4th pct), high ROE (~24% on net income of RMB6B) and growing net revenue
Risks
- China VIE structure, 24% rate cap and bank loan-facilitation whitelist rules threaten the model
- Credit/guarantee-liability exposure and HFCAA/PRC oversight risk
Notable findings
- Strong balance sheetStrong balance sheet — $1.1B cash & investments
- Insider buyingInsider buying — 2 open-market buy(s) by 1 insider(s) (~$3M, last 6mo) Form 4 ↗
Key metrics
Gross margin
84.4%
Operating margin
34.8%
Net margin
31.1%
Return on equity
24.8%
Return on assets
10.5%
Revenue growth (QoQ)
16.8%
Net-income growth
-0.2%
Current ratio
2.4×
EBITDA
$965M
Tangible book value
$3.4B
Cash & investments
$1.1B
Stock comp / revenue
2.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-09 | Chen Xiaohuan | Buy | 4.0K | $14.41 |
| 2026-03-27 | Chen Xiaohuan | Buy | 190K | $12.89 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-27 | 2025-12-31 | 0001104659-26-049501 ↗ |
| 20-F | 2025-03-25 | 2024-12-31 | 0001410578-25-000441 ↗ |
| 20-F | 2024-04-26 | 2023-12-31 | 0001104659-24-052378 ↗ |
| 20-F | 2023-04-27 | 2022-12-31 | 0001104659-23-050588 ↗ |
| 20-F | 2022-04-28 | 2021-12-31 | 0001104659-22-052204 ↗ |
| 20-F | 2021-04-21 | 2020-12-31 | 0001104659-21-052802 ↗ |
| 20-F | 2020-04-30 | 2019-12-31 | 0001104659-20-054414 ↗ |
| 20-F | 2019-04-26 | 2018-12-31 | 0001104659-19-023900 ↗ |