1.Sales and profit
See section β- ATRenew Inc. made $46.8M of net profit in fiscal 2025.
ATRenew Inc.
RERE NYSE Retail-Retail Stores, Nec Financials FY2019βFY2025
- Today
- 2.6%
- Previous close
- $3.84
- Market cap
- $320M
- P/E
- 6.8x
- 52-week range
-
$3.62 $6.34
Last close Β· Oct 26, 2026
$3.94
β$0.15 (β3.67%) past year
KIRAβs summary AI analyst
Hi! I read ATRenew Inc.βs latest annual report (fiscal 2025). Here is what stands out:
3 strengths 2 to watch
2.Cash and shareholders
See section β- Free cash flow was β$77.8M in fiscal 2025, β of revenue.
- ATRenew Inc. returned $12.8M to shareholders in fiscal 2025. The diluted share count rose 0.4%.
- In the last 12 months, insiders sold $0.0M of shares on the open market and bought none.
3.Financial health
See section β- ATRenew Inc. has $212M more cash than debt.
- Its return on capital was 15.5%: every 100 invested in the business earned about 16 in a year.
- ATRenew Inc. passes 2 of 7 financial health tests (Piotroski F-score).
ATRenew Inc. in 30 seconds
Good So-so Weak
Good
Does it make a profit?
$46.8M
Yes. It made $46.8M of profit last year.
Good
Is debt under control?
Net cash
Yes. It has more cash than debt.
Weak
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
For information
How is the share priced?
6.8x
One share costs 6.8 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$320M
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
6.8x
On $0.58 EPS (TTM)
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
Revenue
FY19
Revenue β
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
Margins, % of revenue
FY19
Gross β
Operating β
Net β
FCF β
FY20
Gross β
Operating β
Net β
FCF β
FY21
Gross β
Operating β
Net β
FCF β
FY22
Gross β
Operating β
Net β
FCF β
FY23
Gross β
Operating β
Net β
FCF β
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Net income and earnings per share
Loss periods are shown in red.
KIRA summarises the numbers
-
ATRenew Inc. made $46.8M of net profit in fiscal 2025.
Net income
FY19
Net income β$102M
FY20
Net income β$68.2M
FY21
Net income β$127M
FY22
Net income β$367M
FY23
Net income β$22.1M
FY24
Net income β$1.1M
FY25
Net income $46.8M
Diluted EPS
FY19
Diluted EPS β$24.39
FY20
Diluted EPS β$27.39
FY21
Diluted EPS β$4.27
FY22
Diluted EPS β$4.50
FY23
Diluted EPS β$0.27
FY24
Diluted EPS β$0.01
FY25
Diluted EPS $0.58
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
KIRA summarises the numbers
-
Free cash flow was β$77.8M in fiscal 2025, β of revenue.
Free cash flow
FY19
Free cash flow β$74.4M
FY20
Free cash flow β$65.3M
FY21
Free cash flow β$169M
FY22
Free cash flow $122M
FY23
Free cash flow $22.4M
FY24
Free cash flow $81.0M
FY25
Free cash flow β$77.8M
Cash from operations vs capital spending
FY19
Cash from operations β$59.4M
Capital spending $15.0M
FY20
Cash from operations β$59.8M
Capital spending $5.5M
FY21
Cash from operations β$158M
Capital spending $11.5M
FY22
Cash from operations $131M
Capital spending $9.1M
FY23
Cash from operations $34.4M
Capital spending $12.0M
FY24
Cash from operations $89.3M
Capital spending $8.3M
FY25
Cash from operations β$57.7M
Capital spending $20.1M
Cash from operations
Capital spending
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Dividends, buybacks and share count
KIRA summarises the numbers
-
ATRenew Inc. returned $12.8M to shareholders in fiscal 2025.
The diluted share count rose 0.4%.
Dividends and buybacks
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks $32.4M
FY23
Dividends β
Buybacks $22.6M
FY24
Dividends β
Buybacks $25.6M
FY25
Dividends β
Buybacks $12.8M
Dividends
Buybacks
Diluted shares outstanding (annual)
FY19
Diluted shares 0.01B
FY20
Diluted shares 0.01B
FY21
Diluted shares 0.05B
FY22
Diluted shares 0.08B
FY23
Diluted shares 0.08B
FY24
Diluted shares 0.08B
FY25
Diluted shares 0.08B
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
KIRA summarises the numbers
-
In the last 12 months, insiders sold $0.0M of shares on the open market and bought none.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 10, 2026 | Rui ZhuDirector | Sold | 4,762 | $4.00 | $0.0M | Form 4 |
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably ATRenew Inc. can carry it.
KIRA summarises the numbers
-
ATRenew Inc. has $212M more cash than debt.
Cash vs debt (incl. leases)
FY19
Cash $59.0M
Debt β
FY20
Cash $155M
Debt $61.5M
FY21
Cash $294M
Debt $15.0M
FY22
Cash $360M
Debt $18.0M
FY23
Cash $336M
Debt $49.3M
FY24
Cash $350M
Debt $30.8M
FY25
Cash $258M
Debt $46.1M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $294M | $360M | $336M | $350M | $258M |
| Debt incl. finance leases | $15.0M | $18.0M | $49.3M | $30.8M | $46.1M |
| Net debt / EBITDA | β | β | β12.7x | β7.8x | β2.7x |
| Debt / equity | 0.0x | 0.0x | 0.1x | 0.1x | 0.1x |
| Interest coverage | β53.3x | β425.7x | β24.6x | 1.9x | 75.6x |
| Current ratio | 5.0x | 3.8x | 2.7x | 3.2x | 2.5x |
| Quick ratio | 4.5x | 3.4x | 2.1x | 2.8x | 1.9x |
| Total assets | $1.2B | $732M | $773M | $697M | $852M |
| Total liabilities | $170M | $169M | $251M | $191M | $282M |
| Shareholders' equity | $1.0B | $563M | $522M | $506M | $570M |
| Net debt (β = net cash) | β$279M | β$342M | β$287M | β$319M | β$212M |
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
KIRA summarises the numbers
-
Its return on capital was 15.5%: every 100 invested in the business earned about 16 in a year.
Return on capital, equity and assets (annual)
FY19
Return on capital β
Return on equity β
Return on assets β
FY20
Return on capital β
Return on equity β
Return on assets β8.5%
FY21
Return on capital β15.0%
Return on equity β118.6%
Return on assets β12.8%
FY22
Return on capital β139.7%
Return on equity β46.6%
Return on assets β38.3%
FY23
Return on capital β8.2%
Return on equity β4.1%
Return on assets β2.9%
FY24
Return on capital 1.7%
Return on equity β0.2%
Return on assets β0.2%
FY25
Return on capital 15.5%
Return on equity 8.7%
Return on assets 6.0%
Return on capital
Return on equity
Return on assets
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
KIRA summarises the numbers
-
ATRenew Inc. passes 2 of 7 financial health tests (Piotroski F-score).
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 2 / 7 | 2 / 7 | 4 / 7 | 6 / 7 | 2 / 7 |
| Accruals ratio | β | β1.0% | 3.2% | β52.0% | β7.5% | β12.3% | 13.5% |
| Altman Z'' | β | β6.46 | 5.51 | β2.18 | β0.08 | 0.63 | 0.91 |
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
All figures
Every number, year by year.
7 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Research and development | β | β | β | β | $27.6M | $29.2M | $33.9M |
| Operating income | β$106M | β$66.5M | β$139M | β$390M | β$24.5M | $4.0M | $63.5M |
| Interest expense | $1.8M | $3.1M | $2.6M | $0.9M | $1.0M | $2.1M | $0.8M |
| Pretax income | β$106M | β$74.0M | β$148M | β$382M | β$21.0M | β$0.1M | $64.0M |
| Income tax | β$4.4M | β$6.9M | β$22.3M | β$16.6M | β$6.0M | β$7.9M | $7.9M |
| Net income | β$102M | β$68.2M | β$127M | β$367M | β$22.1M | β$1.1M | $46.8M |
| Net income to common | β$229M | β$257M | β$205M | β$367M | β$22.1M | β | β |
| Diluted EPS | β$24.39 | β$27.39 | β$4.27 | β$4.50 | β$0.27 | β$0.01 | $0.58 |
| Diluted shares | 0.01B | 0.01B | 0.05B | 0.08B | 0.08B | 0.08B | 0.08B |
| Cash flow | |||||||
| Cash from operations | β$59.4M | β$59.8M | β$158M | $131M | $34.4M | $89.3M | β$57.7M |
| Capital expenditure | $15.0M | $5.5M | $11.5M | $9.1M | $12.0M | $8.3M | $20.1M |
| Free cash flow | β$74.4M | β$65.3M | β$169M | $122M | $22.4M | $81.0M | β$77.8M |
| Depreciation and amortization | $34.0M | $52.3M | $57.9M | $60.2M | $47.1M | $37.1M | $16.2M |
| Stock-based compensation | β | β | $70.5M | $25.9M | $19.0M | $23.2M | $7.4M |
| Acquisitions | $0.8M | β | β | β$4.4M | β | β | β |
| Share buybacks | β | β | β | $32.4M | $22.6M | $25.6M | $12.8M |
| Dividends and buybacks | β | β | β | $32.4M | $22.6M | $25.6M | $12.8M |
| Balance sheet | |||||||
| Cash and short-term investments | $59.0M | $155M | $294M | $360M | $336M | $350M | $258M |
| Total debt | β | $61.5M | $15.0M | $18.0M | $49.3M | $30.8M | $46.1M |
| Current assets | β | $287M | $653M | $564M | $637M | $571M | $677M |
| Current liabilities | β | $181M | $130M | $148M | $238M | $179M | $272M |
| Inventory | β | $27.1M | $75.4M | $62.8M | $143M | $73.3M | $153M |
| Property and equipment, net | β | $10.6M | $16.3M | $17.2M | $20.9M | $21.4M | $34.2M |
| Goodwill | β | $276M | $284M | β | β | β | β |
| Intangible assets | β | $209M | $169M | $78.9M | $38.1M | $7.8M | $1.5M |
| Total assets | β | $799M | $1.2B | $732M | $773M | $697M | $852M |
| Total liabilities | β | $238M | $170M | $169M | $251M | $191M | $282M |
| Shareholders' equity | β$494M | β$797M | $1.0B | $563M | $522M | $506M | $570M |
| Returns | |||||||
| Return on capital | β | β | β15.0% | β139.7% | β8.2% | 1.7% | 15.5% |
| Return on capital employed | β | β10.7% | β13.2% | β66.8% | β4.6% | 0.8% | 10.9% |
| Return on equity | β | β | β118.6% | β46.6% | β4.1% | β0.2% | 8.7% |
| Return on assets | β | β8.5% | β12.8% | β38.3% | β2.9% | β0.2% | 6.0% |
| Return on tangible equity | β | β | β36.9% | β75.8% | β4.6% | β0.2% | 8.2% |
| Growth | |||||||
| FCF growth | β | β | β | β | β81.6% | 261.5% | β196.0% |
| Share count change | β | 0.0% | 412.7% | 69.1% | β0.4% | β0.3% | 0.4% |
| Financial health | |||||||
| Net debt / EBITDA | β | β | β | β | β12.7x | β7.8x | β2.7x |
| Debt / equity | β | β | 0.0x | 0.0x | 0.1x | 0.1x | 0.1x |
| Interest coverage | β59.0x | β21.8x | β53.3x | β425.7x | β24.6x | 1.9x | 75.6x |
| Current ratio | β | 1.6x | 5.0x | 3.8x | 2.7x | 3.2x | 2.5x |
| Quick ratio | β | 1.4x | 4.5x | 3.4x | 2.1x | 2.8x | 1.9x |
| Capital allocation | |||||||
| Payouts / FCF | β | β | β | 26.6% | 100.9% | 31.6% | β |
| Quality scores | |||||||
| Piotroski F-score | β | β | 2.0 | 2.0 | 4.0 | 6.0 | 2.0 |
| Altman Z'' | β | β6.5 | 5.5 | β2.2 | β0.1 | 0.6 | 0.9 |
| Accruals ratio | β | β1.0% | 3.2% | β52.0% | β7.5% | β12.3% | 13.5% |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
Source: SEC EDGAR XBRL filings (CIK 0001838957). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 2 ordinary shares). For information only β not investment advice. Check the original filings before relying on any figure.