Fangdd Network Group Ltd. (DUO) intrinsic value & 10-year financials

Fangdd Network Group Ltd. (DUO) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 18.4% a year to $354.8M, with an average return on invested capital of -148.6%.

Graham intrinsic value
—
Revenue (FY2025)
$354.8M
Revenue growth (10-yr CAGR)
-18.4%
ROIC (10-yr avg)
-148.6%
Free cash flow (FY2025)
-$83.6M

DUO 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $354.8M -$84.7M -$12.96 -$83.6M -37.6% -34.6%
FY2024 $339.1M $30.8M $3.45 -$83.4M -37.1% -65.2%
FY2023 $285.0M -$91.8M -$0.00 -$186.4M -93.1% -501.5%
FY2022 $245.9M -$244.0M -$0.01 -$127.2M -101.4% -846.1%
FY2021 $942.4M -$1.2B -$0.06 -$73.1M -101.6% -109.0%
FY2020 $2.5B -$220.3M -$0.01 -$335.2M -9.2% -14.9%
FY2019 $3.6B -$510.4M -$0.12 $116.8M -14.9% 385.8%
FY2018 $2.3B $104.0M — $121.0M 3.0% -3.6%
FY2017 $1.8B $649.0K — -$679.1M -0.3% —
FY2016 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Fangdd Network Group Ltd. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Fangdd Network Group Ltd. has historically struggled to out-earn its cost of capital, averaging just -28.3% ROIC.

Fangdd Network Group Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Fangdd Network Group Ltd. is modeled at -18.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-84.00 per share.

DUO stock: frequently asked questions

What is the intrinsic value of Fangdd Network Group Ltd. (DUO) stock?

Graham's formula only works with positive earnings. Fangdd Network Group Ltd. reported diluted EPS of -$12.96 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Fangdd Network Group Ltd. generate free cash flow?

Fangdd Network Group Ltd. generated -$83.6M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 2 of the last 9 reported years.

What is DUO's return on invested capital?

Average ROIC over the last 10 fiscal years was -148.6%, and average return on equity was 3.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this DUO data come from?

From Fangdd Network Group Ltd.'s annual 10-K filings on SEC EDGAR, most recently filed May 6, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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