Maase Inc. (MAAS) intrinsic value & 10-year financials
Maase Inc. (MAAS) has a Graham intrinsic value of CNY 6.98 per share. Over the last 9 fiscal years revenue grew 24.8% a year to CNY 781.2M, with an average return on invested capital of -21.1%.
- Graham intrinsic value
- CNY 6.98
- Revenue (FY2025)
- CNY 781.2M
- Revenue growth (9-yr CAGR)
- 24.8%
- ROIC (10-yr avg)
- -21.1%
- Free cash flow (FY2025)
- CNY 65.9M
MAAS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | CNY 781.2M | -CNY 196.0M | -CNY 25.86 | CNY 65.9M | -88.5% | -69.5% |
| FY2024 | CNY 1.2B | -CNY 289.7M | -CNY 0.42 | CNY 53.4M | -38.9% | -69.6% |
| FY2023 | CNY 7.8M | -CNY 43.6M | -CNY 0.16 | -CNY 136.8M | -754.4% | -29.3% |
| FY2022 | CNY 1.9M | -CNY 60.7M | -CNY 0.22 | -CNY 14.3M | -3867.6% | -49.3% |
| FY2021 | CNY 9.0K | -CNY 46.4M | -CNY 0.17 | -CNY 11.3M | -813133.3% | -29.3% |
| FY2020 | CNY 129.5M | -CNY 32.9M | -CNY 0.12 | -CNY 91.5M | -41.3% | -24.4% |
| FY2019 | CNY 203.2M | CNY 53.5M | CNY 0.21 | CNY 93.8M | 27.6% | 52.3% |
| FY2018 | CNY 165.8M | CNY 64.6M | CNY 0.27 | CNY 44.4M | 37.9% | 50.4% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in CNY.
Executive summary
Maase Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Maase Inc. has historically struggled to out-earn its cost of capital, averaging just -21.1% ROIC.
Maase 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, Maase Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.98 per share.