9F Inc.

JFU
About the company

9F Inc., together with its subsidiaries, provides digital technology and wealth management services in the People's Republic of China and Hong Kong. The company operates through E-Commerce Services, Technology Empowerment Services, and Wealth Management Services segments.

Country: Cayman IslandsPrice: $2.14Market Cap: $25.2M

Investment snapshot

31%positive consensus
Scored 1d ago

Positive

5

BUY / PASS

Neutral / negative

4 / 7

NEUTRAL / FAIL

Median fair value

$1.03

-51.9% vs price

Models with upside

4 / 16

Positive margin of safety

Strongest signal

JFU undervalued: all 4 models price fair value above $2.14 (median $1.03)

Key risk

No clean pass — all 8 investors flag at least one growth criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictPASSFAILFAILBUYPASSFAILNEUTRALFAILNEUTRALPASSPASSFAILNEUTRALFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of Safety+95.3%N/AN/AN/A+53.5%+89.6%N/AN/AN/A+89.6%N/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-04-30

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 4▾

    JFU undervalued: all 4 models price fair value above $2.14 (median $1.03)

    Graham fair value$2.27
    ✓Graham+95.3% margin vs $2.14
    Dreman fair value$0.23
    ✓Dreman+53.5% margin vs $2.14
    Munger fair value$1.03
    ✓Munger+89.6% margin vs $2.14
    Ackman fair value$1.03
    ✓Ackman+89.6% margin vs $2.14
  • Cash Flow80% pass✓ 10✗ 2▾

    8 of 10 pass — Buffett and Sleep object

    Free Cash Flow Proxy$-34.1M
    ✗BuffettPositive and growing
    FCF Positive and Growing$29.3M
    ✓LynchPositive and growing
    Operating Cash Flow$29.7M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=4.83%, ROA=3.91%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)0.9x
    ✓Dreman< 8x
    P/E or FCF YieldP/E=1.1x, FCF Yield=116.3%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive6/8 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap116.1%
    ✓Ackman>= 4%
    Price / FCF per Share0.9x
    ✓Ackman<= 25
    Positive Operating Cash Flow frequency6/9 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$29.3M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+116.30%; #48/4519 (top 1.1%)
    ✓OshaughnessyTop 10% of eligible cross-section
  • Valuation58% pass✓ 20✗ 6▾

    7 of 12 pass — Lynch, Templeton, Neff +2 more object

    Price / 3-yr avg EPS7.0x
    ✓Graham<= 15x
    Price-to-Tangible-Book Ratio0.0x
    ✓Graham<= 1.5x
    P/E x P/TBV0.30
    ✓Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)P/E 1.1x (growth N/A)
    ✗Lynch< 1.0 (ideally < 0.5)
    Price / EPS1.1x
    ✓Dreman< 12x✓Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)0.9x
    ✓Dreman< 8x
    Price / Tangible Book Value per Share0.0x
    ✓Dreman< 1.2x✓SchlossP/TBV <= 1.00x (app cutoff)
    Valuation ReasonablenessP/E=1.1x
    ✓MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldP/E=1.1x, FCF Yield=116.3%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/E=1.1x, P/B=0.0x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value53.3% (IV=$0.23 vs Price=$0.11)
    ✓Marks>= 20% below intrinsic value
    Price / FCF per Share0.9x
    ✓Ackman<= 25
    Price vs. Trailing Low171% of trailing low ($0.06)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Price / Book Value per Share0.0x
    ✓Templeton< 1.5x✓SchlossP/B <= 0.80x (app cutoff)
    Net income / market capitalization+95.42%; #99/6340 (top 1.6%)
    ✓AsnessTop 30% of eligible cross-section✓OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+21.0583; #125/6449 (top 1.9%)
    ✓AsnessTop 30% of eligible cross-section
    Price / Diluted EPS1.1x
    ✓NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Book Value per Share Change-28.4%
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.7620; #2102/5247 (top 40.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+116.30%; #48/4519 (top 1.1%)
    ✓OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-30.07%; #4425/6202 (top 71.3%)
    ✗OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

  • Growth0% pass✓ 1✗ 11▾

    No clean pass — all 8 investors flag at least one growth criterion

    EPS Growth (3-yr avg, 10-yr window)-98.3%
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)P/E 1.1x (growth N/A)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR-17.0%
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    EPS Growth Direction$0.45 (2017) -> $0.10 (2025)
    ✗DremanPositive over recent years
    EPS CAGR-17.0% CAGR over 8 years
    ✗Dreman> 5% annualized
    Positive Net Income Frequency4/9 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-9.8%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency4/5 years with positive EPS growth
    ✓AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 56.8% -> 81.2%, operating margin -135.7% -> 8.4%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR-36.9%
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Profitability19% pass✓ 9✗ 26▾

    13 of 16 flag JFU's profitability — Graham, Buffett, Lynch +10 more

    Positive EPS (10 years)4/10 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)-98.3%
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)4/10 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-4.0%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)8.4% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-34.1M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)N/A (negative mean EPS)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)P/E 1.1x (growth N/A)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR-17.0%
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE4.5%
    ✗Lynch> 15%
    Net Income / Total Assets3.91%
    ✓PiotroskiROA > 0
    ROA Change YoY1.21% -> 3.91% (delta: +2.70%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=4.83%, ROA=3.91%
    ✓PiotroskiCFO/Assets > ROA
    Pre-Tax Income / Revenue169.0%
    ✓Dreman>= 8%
    Net Income / Shareholders' Equity4.5%
    ✗Dreman> 12%
    Return on Equity4.5%
    ✗Munger> 15%✗AkreROE > 20% (3-year avg)
    Margin of SafetyP/E=1.1x, P/TBV=0.0x
    ✓PabraiP/TBV < 1.5 or P/E < 15
    ROE (high and growing)FY2023: ROE=-4.0%; FY2024: ROE=1.4%; FY2025: ROE=4.5%
    ✗AkreLatest 3 consecutive FYs: ROE > 15% in each
    Discount to Intrinsic Value53.3% (IV=$0.23 vs Price=$0.11)
    ✓Marks>= 20% below intrinsic value
    Positive Net Income Frequency4/9 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue8.4%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity4.5%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-135.7% (2023) -> 8.4% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 56.8% -> 81.2%, operating margin -135.7% -> 8.4%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    ROE (5-year)0/5 years above 12% (latest 4.5%)
    ✗SleepROE > 12% in a majority of years
    Net income / market capitalization+95.42%; #99/6340 (top 1.6%)
    ✓AsnessTop 30% of eligible cross-section✓OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+2.54%; #3238/3702 (top 87.5%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity+4.53%; #2512/5226 (top 48.1%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0607; #2827/5884 (top 48.0%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years4/9 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Debt & Leverage25% pass✓ 1✗ 4▾

    3 of 4 flag JFU's debt & leverage — Templeton, Asness and Schloss

    LT Debt / Total Assets Change0.00% -> 0.00%
    ✓PiotroskiDecreased YoY
    Total Debt / Shareholders' Equity
    ✗Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✗SchlossD/E < 1.00x
    Negative debt-to-equity (higher means less debt)
    ✗AsnessTop 30% of eligible cross-section
    Current Assets / Current Liabilities
    ✗SchlossCurrent ratio >= 1.50x (app cutoff)
  • Efficiency33% pass✓ 1✗ 2▾

    2 of 3 flag JFU's efficiency — Akre and Sleep

    Revenue / Total Assets Change YoY0.03x -> 0.03x
    ✓PiotroskiImproved YoY
    Reinvestment Rate x ROIC4.5% (RR=100% x ROIC=4.5%)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROE (5-year)0/5 years above 12% (latest 4.5%)
    ✗SleepROE > 12% in a majority of years
  • Verdicts42% pass✓ 5✗ 7▾

    Split decision: 7 FAIL · 4 PASS · 4 NEUTRAL · 1 BUY

    Overall verdict
    ✓GrahamPASS (3/7)✗BuffettFAIL (0/6)✗LynchFAIL (1/4)✓PiotroskiBUY (F-Score 6)✓DremanPASS (4/9)✗MungerFAIL (1/3)•PabraiNEUTRAL (2/3)✗AkreFAIL (1/5)•MarksNEUTRAL (3/4)✓AckmanPASS (4/8)✓TempletonPASS (4/8)✗SleepFAIL (2/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (2/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Banking
SIC Sector: Credit Institutions
Size: Micro Cap($25.2M)
Revenue: $19.2M+12.1% YoY
Net Income: $24.0M+251.0% YoY

Financial Snapshot

Operating Margin8.4%
Return on Equity4.5%
Debt / Equity--
Current Ratio--
EPS (Diluted)$0.10+252.7% 1y
Shares Retired−0.0% / −0.2% 2y

Similar Companies

MUFGMITSUBISHI UFJ FINANCIAL GROUP INC
$245.7B
AXPAMERICAN EXPRESS CO
$215.0B
SANBanco Santander, S.A.
$175.9B
ATMPBARCLAYS BANK PLC
$82.1B
Sector-adjusted criteria: Bank

Leverage is a bank’s business model and current accounts don’t exist on its balance sheet, so debt and liquidity tests are omitted and tangible book value and ROE replace their industrial analogs.

Shareholder Return

Fiscal 2025

Issued 0.0% of shares last year, 0.2% issued over two.

Buybacks
—
Dividends
—

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY25
252.7% = 251.0% + 0.5%
Earnings Fewer shares More shares

The two parts do not sum exactly to the total — the difference is the cross-term, plus preferred capital where the company has any. It is left visible rather than distributed into the other two.

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2025
Sources
  • 20-F · 2026-04-30
FY 2024
Sources
  • 20-F · 2025-08-08
FY 2023
Sources
  • 20-F · 2025-08-08
FY 2022
Sources
  • 20-F · 2025-08-08
FY 2021
Sources
  • 20-F · 2022-05-17
Market Cap$25.2Mcurrent$365.7Mest.$553.3Mest.$953.9Mest.$236.0Mest.
Revenue$19.2M↑12%$17.1M↓15%$20.1M↓10%$22.2M↓81%$119.5M
Operating Income$1.6M↑126%-$6.2M↑77%-$27.2M↓26%-$21.6M↓148%-$8.7M
Net Income$24.0M↑251%$6.8M↑135%-$19.7M↑77%-$85.4M↓132%-$36.9M
EPS (Diluted)$0.10↑253%$0.03↑134%$-0.08↑77%$-0.37↓112%$-0.17
Gross Margin81.2%↑7%76.2%↑34%56.8%↓19%70.0%↑271%18.9%
Operating Margin8.4%↑123%-36.4%↑73%-135.7%↓40%-97.0%↓1232%-7.3%
ROE4.5%↑227%1.4%↑135%-4.0%↑76%-16.3%↓186%-5.7%
Total Debt----------
Shareholders' Equity$530.6M↑8%$493.5M$495.0M↓6%$525.1M↓19%$648.8M
Current Ratio—————
Debt / Equity—————
Operating Cash Flow$29.7M↑366%$6.4M↓3%$6.5M↓44%$11.6M↑132%-$36.1M
Free Cash Flow$29.3M↑372%$6.2M↑8%$5.7M↑11%$5.2M↑114%-$37.3M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Banking

JFU vs Peers — Financial Grading

Revenue$19.2MBottom 25%
Net Income$24.0MBottom 25%
ROE4.5%Bottom 25%
D/E—
Op. Margin8.4%Bottom 25%
Curr. Ratio—
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchPiotroskiDreman
MITSUBISHI UFJ FINANCIAL GROUP INCMUFG$245.7B$21.83$74.2B$10.8B8.8%1.1219.9%—2/71/61/4F-Score 53/9
AMERICAN EXPRESS COAXP$215.0B$320.60$41.3B$10.8B32.4%1.68——2/73/63/4F-Score 43/9
Banco Santander, S.A.SAN$175.9B$12.21—$16.6B12.5%0.02——2/71/62/4F-Score 45/9
BARCLAYS BANK PLCATMP$82.1B$35.04$13.1B$6.3B7.5%0.01——2/71/60/4F-Score 74/9
BARCLAYS PLCBCS$76.0B$22.87$15.0B$9.7B9.2%0.02——1/70/60/4F-Score 72/9
FIRST CITIZENS BANCSHARES INC /DE/FCNCA$25.7B$2324.25$9.5B$2.2B9.9%1.62——5/73/61/4F-Score 52/9
KEYCORP /NEW/KEY$22.7B$21.46$7.5B$1.8B9.0%0.49——2/71/61/4F-Score 64/9
WEBSTER FINANCIAL CORPWBS$12.6B$77.57$2.9B$1.0B10.6%0.0850.7%—2/71/61/4F-Score 72/9