Yatsen Holding Limited (YSG)

Name: Yatsen Holding Limited Financial Statements
Creator: Quarter Results

Consumer Cyclical | Specialty Retail

Latest reporting period: 2026-03-31

Latest Quarter

2026-03-31

Revenue

$1.0B

Net Income

-$60.5M

Operating Margin

-9.7%

Free Cash Flow

-$301M

Debt / Assets

22.0%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Yatsen Holding Limited (YSG).
Income Statement (Quarterly)	2026-03-31	2024-12-31	2024-09-30	2024-06-30
Revenue	1,020,986,000	1,148,522,000	677,016,000	794,521,000
Cost of Revenue	201,797,000	255,536,000	163,191,000	185,102,000
Gross Profit	819,189,000	892,986,000	513,825,000	609,419,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	817,562,000	854,223,000	579,403,000	663,765,000
Operating Expenses	918,140,000	1,283,644,000	655,153,000	744,606,000
Operating Income	-98,951,000	-390,658,000	-141,328,000	-135,187,000
Interest Expense	0	0	0	0
Income Before Tax	-60,553,000	-381,192,000	-121,052,000	-83,905,000
Income Tax Expense	1,375,000	2,388,000	4,000	1,589,000
Net Income	-60,514,000	-384,234,000	-121,067,000	-78,274,000
Per Share
EPS	-0.60	-4.00	-1.24	-0.80
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Yatsen Holding Limited (YSG).
Income Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	4,181,022,328	3,393,414,000	3,414,774,000	3,706,122,000	5,839,973,000
Cost of Revenue	869,692,723	776,236,000	901,455,000	1,187,370,000	1,941,177,000
Gross Profit	3,311,329,598	2,617,178,000	2,513,319,000	2,518,752,000	3,898,796,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	3,316,941,425	2,929,706,000	2,731,916,000	3,050,889,000	4,946,936,000
Operating Expenses	3,492,061,673	3,442,069,000	3,426,674,000	3,447,650,000	5,523,040,000
Operating Income	-180,732,068	-824,891,000	-913,355,000	-928,898,000	-1,624,244,000
Interest Expense	0	0	0	34,656,000	0
Income Before Tax	-90,001,258	-713,307,000	-753,437,000	-818,628,000	-1,547,959,000
Income Tax Expense	-105,056	3,086,000	-3,210,000	2,705,000	-921,000
Net Income	-78,664,764	-708,174,000	-747,763,000	-821,333,000	-1,540,734,000
Per Share
EPS	-0.84	-7.00	-6.81	-3.94	-7.39
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Yatsen Holding Limited (YSG).
Balance Sheet (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Assets
Cash and Cash Equivalents	808,010,201	817,395,000	836,888,000	1,512,945,000
Short Term Investments	246,164,651	539,130,000	1,262,137,000	1,072,867,000
Net Receivables	221,124,717	326,886,000	201,640,000	206,497,000
Inventory	509,053,951	386,054,000	352,090,000	423,287,000
Total Current Assets	2,235,610,712	2,347,654,000	2,951,599,000	3,508,421,000
Property Plant Equipment	251,088,784	221,874,000	179,226,000	208,623,000
Goodwill and Intangibles	692,978,994	714,737,000	1,227,963,000	1,546,814,000
Total Assets	3,849,431,726	3,970,867,000	5,006,015,000	5,862,656,000
Liabilities
Account Payables	149,466,111	72,090,000	115,122,000	119,847,000
Short Term Debt	53,469,020	39,409,000	45,464,000	79,586,000
Total Current Liabilities	615,670,802	640,188,000	611,328,000	588,412,000
Long Term Debt	123,235,421	109,526,000	67,767,000	52,997,000
Total Liabilities	846,880,939	867,852,000	821,242,000	800,130,000
Shareholders Equity
Retained Earnings	-8,146,729,469	-8,029,150,000	-7,345,153,000	-6,600,365,000
Total Shareholders Equity	3,012,521,122	3,055,326,000	4,135,037,000	4,719,442,000

Balance sheet annual history for Yatsen Holding Limited (YSG).
Balance Sheet (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	808,010,201	817,395,000	836,888,000	1,512,945,000	3,138,008,000
Short Term Investments	246,164,651	539,130,000	1,262,137,000	1,072,867,000	0
Net Receivables	221,124,717	326,886,000	201,640,000	206,497,000	355,897,000
Inventory	509,053,951	386,054,000	352,090,000	423,287,000	695,761,000
Total Current Assets	2,235,610,712	2,347,654,000	2,951,599,000	3,508,421,000	4,555,857,000
Property Plant Equipment	251,088,784	221,874,000	179,226,000	208,623,000	668,280,000
Goodwill and Intangibles	692,978,994	714,737,000	1,227,963,000	1,546,814,000	1,615,272,000
Total Assets	3,849,431,726	3,970,867,000	5,006,015,000	5,862,656,000	7,272,009,000
Liabilities
Account Payables	149,466,111	72,090,000	115,122,000	119,847,000	240,815,000
Short Term Debt	53,469,020	39,409,000	45,464,000	79,586,000	214,843,000
Total Current Liabilities	615,670,802	640,188,000	611,328,000	588,412,000	877,583,000
Long Term Debt	123,235,421	109,526,000	67,767,000	52,997,000	206,303,000
Total Liabilities	846,880,939	867,852,000	821,242,000	800,130,000	1,264,516,000
Shareholders Equity
Retained Earnings	-8,146,729,469	-8,029,150,000	-7,345,153,000	-6,600,365,000	-5,782,169,000
Total Shareholders Equity	3,012,521,122	3,055,326,000	4,135,037,000	4,719,442,000	5,659,188,000

Cash flow quarterly history for Yatsen Holding Limited (YSG).
Cash Flow Statement (Quarterly)	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	-710,221,000	-750,227,000	-821,333,000	-1,540,734,000
Depreciation & Amortization	0	203,405,000	339,264,000	427,264,000
Stock Based Compensation	91,174,000	77,502,000	340,860,000	530,440,000
Change in Working Capital	-198,622,000	61,515,000	230,052,000	-530,415,000
Operating Cash Flow	-243,666,000	-107,442,000	136,208,000	-1,020,441,000
Investing Activities
Capital Expenditure	-57,020,000	-43,969,000	-59,328,000	-166,737,000
Investments	-52,740,000	-43,969,000	-59,328,000	-141,433,000
Investing Cash Flow	592,123,000	-260,487,000	-1,155,416,000	-1,484,257,000
Financing Activities
Debt Repayment	0	0	0	-100,000
Common Stock Issued/Repurchased	-405,792,000	-212,693,000	-654,650,000	-15,161,000
Dividends Paid	0	0	0	0
Financing Cash Flow	-394,226,000	-342,455,000	-654,450,000	-1,706,000
Summary
Free Cash Flow	-300,686,000	-151,411,000	76,880,000	-1,187,178,000
Net Change in Cash	-40,741,000	-696,192,000	-1,583,680,000	-2,595,384,000

Cash flow annual history for Yatsen Holding Limited (YSG).
Cash Flow Statement (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Operating Activities
Net Income	-710,221,000	-750,227,000	-821,333,000	-1,540,734,000	-2,688,415,000
Depreciation & Amortization	0	203,405,000	339,264,000	427,264,000	263,870,000
Stock Based Compensation	91,174,000	77,502,000	340,860,000	530,440,000	1,900,588,000
Change in Working Capital	-198,622,000	61,515,000	230,052,000	-530,415,000	-502,393,000
Operating Cash Flow	-243,666,000	-107,442,000	136,208,000	-1,020,441,000	-983,368,000
Investing Activities
Capital Expenditure	-57,020,000	-43,969,000	-59,328,000	-166,737,000	-384,579,000
Investments	-52,740,000	-43,969,000	-59,328,000	-141,433,000	-225,569,000
Investing Cash Flow	592,123,000	-260,487,000	-1,155,416,000	-1,484,257,000	-508,832,000
Financing Activities
Debt Repayment	0	0	0	-100,000	-10,000,000
Common Stock Issued/Repurchased	-405,792,000	-212,693,000	-654,650,000	-15,161,000	2,812,275,000
Dividends Paid	0	0	0	0	0
Financing Cash Flow	-394,226,000	-342,455,000	-654,450,000	-1,706,000	6,680,869,000
Summary
Free Cash Flow	-300,686,000	-151,411,000	76,880,000	-1,187,178,000	-1,367,947,000
Net Change in Cash	-40,741,000	-696,192,000	-1,583,680,000	-2,595,384,000	5,056,813,000