iQIYI, Inc. (IQ) intrinsic value & 10-year financials
iQIYI, Inc. (IQ) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 10.4% a year to $27.3B, with an average return on invested capital of -106.3%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $27.3B
- Revenue growth (10-yr CAGR)
- 10.4%
- ROIC (10-yr avg)
- -106.3%
- Free cash flow (FY2025)
- $10.0M
IQ 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $27.3B | -$206.3M | — | $10.0M | 0.8% | 2.2% |
| FY2024 | $29.2B | $764.1M | — | $2.0B | 6.2% | 17.9% |
| FY2023 | $31.9B | $1.9B | — | $3.3B | 9.4% | 50.4% |
| FY2022 | $29.0B | -$136.2M | — | -$244.8M | 4.5% | 25.8% |
| FY2021 | $30.6B | -$6.2B | — | -$6.2B | -14.7% | -97.1% |
| FY2020 | $29.7B | -$7.0B | — | -$5.7B | -20.3% | -136.1% |
| FY2019 | $29.0B | -$10.3B | — | $3.2B | -31.9% | -79.4% |
| FY2018 | $25.0B | -$9.1B | — | $2.3B | -33.2% | -891.7% |
| FY2017 | $17.4B | -$3.7B | -$1.15 | $3.0B | -22.7% | 26.7% |
| FY2016 | $11.2B | -$3.1B | -$23.20 | $2.2B | -24.8% | 18.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
iQIYI, Inc. is a consistent compounder, expanding top-line revenue at 10.4% annually over the past decade.
iQIYI, Inc. has historically struggled to out-earn its cost of capital, averaging just -22.0% ROIC.
iQIYI, Inc. 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, iQIYI, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.34 per share.