Waterdrop Inc. WDH
Last close
—
Market cap
—
52-week range
— - —
No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.02
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $568.8M | $379.7M | $370.5M | $406.2M | $503.1M | — |
| R&D | $33.3M | $29.7M | $42.1M | $42.2M | $59.5M | — |
| SG&A | $44.3M | $50.4M | $56.7M | $56.3M | $83.2M | — |
| Total operating expenses | $515.8M | $355.3M | $371.5M | $336.9M | $795.4M | — |
| Operating income | $53.0M | $24.4M | -$950.0K | $69.3M | -$292.3M | — |
| Pre-tax income | $77.7M | $49.4M | $23.1M | $91.4M | -$281.7M | — |
| Income tax | $3.1M | $1.3M | $78.0K | $3.3M | $34.7M | — |
| Net income | $80.8M | $48.1M | $23.1M | $88.1M | -$247.0M | — |
| EPS, basic | 0.02 | 0.01 | 0.01 | 0.02 | — | — |
| EPS, diluted | 0.02 | 0.01 | 0.01 | 0.02 | -0.09 | — |
| Shares, diluted (wtd. avg.) | 3.71B | 3.72B | 3.88B | 4.02B | 2.99B | 1.17B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $69.1M | $215.5M | $133.4M | $294.6M | $215.4M | $207.7M |
| Short-term investments | $75.9M | $220.9M | $422.1M | $308.9M | $309.0M | — |
| Receivables | $180.2M | $98.1M | $97.6M | $98.0M | $101.0M | — |
| Total current assets | $569.2M | $635.4M | $764.3M | $825.1M | $789.8M | — |
| Property, plant and equipment | $36.6M | $32.9M | $4.8M | $4.6M | $7.0M | — |
| Goodwill | $11.5M | $11.1M | $11.4M | $496.0K | $537.0K | — |
| Other intangibles | $25.3M | $21.0M | $25.0M | $8.2M | $8.9M | — |
| Total assets | $1.02B | $884.1M | $866.0M | $858.6M | $823.9M | — |
| Short-term debt | $6.7M | $27.2M | $19.4M | — | — | — |
| Total current liabilities | $270.6M | $203.4M | $192.9M | $162.6M | $196.0M | — |
| Total liabilities | $278.7M | $216.5M | $207.1M | $167.6M | $200.4M | — |
| Retained earnings | -$232.4M | -$300.6M | -$360.8M | -$395.4M | -$523.3M | — |
| Total equity | $736.7M | $657.2M | $645.9M | $691.0M | $623.5M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $34.9M | $59.9M | $57.3M | $111.0M | -$172.1M | — |
| Depreciation and amortisation | $2.0M | $1.6M | $1.9M | $3.3M | $2.8M | — |
| Stock-based compensation | $7.4M | $11.9M | $18.9M | $16.2M | $35.5M | — |
| Capital expenditure | $4.2M | $29.9M | $1.9M | $1.7M | $5.6M | — |
| Investing cash flow | -$32.1M | $40.0M | -$165.2M | -$20.3M | -$132.9M | — |
| Financing cash flow | -$53.5M | -$27.2M | -$53.1M | -$8.3M | $332.6M | — |
| Dividends paid | $18.6M | $21.7M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-049772.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $503.1M | $406.2M | $370.5M | $379.7M | $568.8M |
| Gross profit | — | — | — | — | — | — |
| Net income | — | -$247.0M | $88.1M | $23.1M | $48.1M | $80.8M |
Others in SIC 6411
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MRSH | MARSH & MCLENNAN COMPANIES, INC. | $88.64B | 22.0x | 10.3% |
| AON | Aon plc | $68.54B | 19.0x | 9.4% |
| AJG | Arthur J. Gallagher & Co. | $67.33B | 45.8x | 20.7% |
| WTW | WILLIS TOWERS WATSON PLC | $31.09B | 20.6x | -2.3% |
| BRO | BROWN & BROWN, INC. | $23.90B | 22.6x | 22.8% |
| EQH | Equitable Holdings, Inc. | $14.46B | — | -6.1% |
| ACT | Enact Holdings, Inc. | $6.77B | 10.9x | 2.8% |
| NP | Neptune Insurance Holdings Inc. | $4.58B | — | 33.7% |