NCTY
The9 Ltd ADR
NASDAQ: NCTY · FINANCIAL SERVICES · CAPITAL MARKETS
$5.40
+3.25% today
Updated 2026-04-30
Market cap
$81.56M
P/E ratio
—
P/S ratio
0.76x
EPS (TTM)
$-7.90
Dividend yield
—
52W range
$5 – $13
Volume
0.0M
The9 Ltd ADR (NCTY) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $970.39M | $1.23B | $1.71B | $1.71B | $100.44M | $104.65M | $152.87M | $105.34M | $63.78M | $47.91M | $58.79M | $71.31M | $18.11M | $340570.00 | $591342.00 | $134.12M | $109.95M | $174.02M | $113.30M | $104.96M |
| Revenue growth (YoY) | — | +26.8% | +39.0% | -0.2% | -94.1% | +4.2% | +46.1% | -31.1% | -39.5% | -24.9% | +22.7% | +21.3% | -74.6% | -98.1% | +73.6% | +22579.9% | -18.0% | +58.3% | -34.9% | -7.4% |
| Cost of revenue | $515.83M | $673.38M | $997.95M | $927.72M | $100.85M | $38.48M | $68.71M | $108.38M | $85.12M | $69.93M | $50.75M | $23.18M | $17.08M | $3.19M | $769689.00 | $86.89M | $158.06M | $213.15M | $114.92M | $103.20M |
| Gross profit | $454.56M | $557.49M | $713.54M | $780.34M | $-408972.00 | $66.17M | $84.16M | $-3.04M | $-21.34M | $-22.02M | $8.03M | $48.12M | $1.04M | $-2.85M | $-178347.00 | $47.22M | $-48.10M | $-39.13M | $-1.63M | $1.76M |
| Gross margin | 46.8% | 45.3% | 41.7% | 45.7% | -0.4% | 63.2% | 55.1% | -2.9% | -33.5% | -46.0% | 13.7% | 67.5% | 5.7% | -835.5% | -30.2% | 35.2% | -43.7% | -22.5% | -1.4% | 1.7% |
| R&D | $30.30M | $39.85M | $73.82M | $73.82M | $136.18M | $208.67M | $298.41M | $214.38M | $155.04M | $139.40M | $81.58M | $43.98M | $25.51M | $12.13M | $2.30M | $1.89M | $2.48M | $1.97M | $868126.00 | $9.53M |
| SG&A | $160.72M | $283.97M | $319.30M | $239.44M | $112.69M | $174.67M | $170.38M | $161.96M | $111.16M | $131.77M | $129.05M | $108.82M | $89.58M | $113.87M | $108.75M | $293.15M | $376.38M | $203.07M | $157.83M | $239.77M |
| Operating income | $265.93M | $244.87M | $216.70M | $363.35M | $-308.46M | $-403.36M | $-568.03M | $-497.55M | $-338.04M | $-330.16M | $-230.80M | $-110.80M | $-119.97M | $-129.72M | $-105.91M | $-265.78M | $-420.50M | $-239.59M | $-162.81M | $-241.01M |
| Operating margin | 27.4% | 19.9% | 12.7% | 21.3% | -307.1% | -385.4% | -371.6% | -472.3% | -530.0% | -689.1% | -392.6% | -155.4% | -662.4% | -38089.6% | -17909.4% | -198.2% | -382.4% | -137.7% | -143.7% | -229.6% |
| EBITDA | $429.76M | $448.76M | $524.20M | $670.84M | $-273.51M | $-384.87M | $-535.51M | $-453.34M | $-291.96M | $-298.47M | $-212.53M | $-105.64M | $-116.18M | $-126.95M | $-105.53M | $-219.00M | $-327.51M | $-152.74M | $-100.44M | $-226.28M |
| EBITDA margin | 44.3% | 36.5% | 30.6% | 39.3% | -272.3% | -367.8% | -350.3% | -430.4% | -457.8% | -623.0% | -361.5% | -148.1% | -641.5% | -37275.9% | -17845.5% | -163.3% | -297.9% | -87.8% | -88.7% | -215.6% |
| EBIT | $265.93M | $244.87M | $216.70M | $363.35M | $-308.46M | $-403.36M | $-568.03M | $-497.55M | $-338.04M | $-330.16M | $-230.80M | $-110.80M | $-119.97M | $-129.72M | $-105.91M | $-265.78M | $-420.50M | $-239.59M | $-162.81M | $-241.01M |
| Interest expense | $0.00 | $72778.00 | $0.00 | $56.69M | $23.18M | $30.42M | $21.79M | $8.38M | $3.41M | $6.40M | $56.47M | $83.92M | $104.78M | $34.50M | $4.07M | $119.17M | $23.34M | $31.38M | $34.22M | $22.63M |
| Income tax | $-2.67M | $9.28M | $47.93M | $25.22M | $7.37M | $165.00 | $-66.19M | $28.98M | $-256.62M | $-29.94M | $-6.08M | $37.05M | $-25.45M | $28.35M | $7.17M | $70.72M | $398.52M | $50.72M | $1.12M | — |
| Effective tax rate | -0.9% | 3.8% | 33.1% | 6.8% | -2.5% | -0.0% | 11.3% | -6.3% | 64.7% | 7.0% | 0.9% | -27.7% | 8.7% | -17.5% | 1.9% | -21.1% | -67.2% | -57.6% | -1.5% | 0.0% |
| Net income | $307.58M | $232.32M | $96.84M | $348.35M | $-303.08M | $-323.42M | $-521.14M | $-487.15M | $-139.76M | $-397.05M | $-707.81M | $-170.88M | $-268.08M | $-190.11M | $375.04M | $-405.91M | $-991.98M | $-138.79M | $-74.46M | $-391.48M |
| Net income growth (YoY) | — | -24.5% | -58.3% | +259.7% | -187.0% | -6.7% | -61.1% | +6.5% | +71.3% | -184.1% | -78.3% | +75.9% | -56.9% | +29.1% | +297.3% | -208.2% | -144.4% | +86.0% | +46.3% | -425.7% |
| Profit margin | 31.7% | 18.9% | 5.7% | 20.4% | -301.8% | -309.1% | -340.9% | -462.5% | -219.1% | -828.8% | -1204.1% | -239.6% | -1480.1% | -55820.6% | 63421.6% | -302.7% | -902.2% | -79.8% | -65.7% | -373.0% |