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General information

Country: CHINA

Sector: Specialty Retail

Categories: @china   

Yatsen Holding Limited operates as a holding company. The Company, through its subsidiaries, retails cosmetics, skincare, and other beauty products. Yatsen Holding serves customers worldwide.



Growth: Pretty weak revenue growth rate 3.4%, there is acceleration compared to average historical growth rates -8.2%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is positive, +306.7%. On average the margin is decreasing steadily. Gross margin is high, +73.7%. In the last quarter the company beat the estimated EPS. The company was ahead of estimated EPS in 100% of quarters (showing a gain of +$0.02 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 0.0%. Free cash flow yield 4.2% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 1 141.0% higher than minimum and 57.4% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 16.0x by EV / Sales multiple , the company can be >100% undervalued

Key Financials (Download financials)

Ticker: YSG
Share price, USD:  (+8.3%)4.84
year average price 1.10  


year start price 1.01 2023-04-29

min close price 0.49 2024-03-15

max close price 4.84 2024-04-26

current price 4.84 2024-04-27
Common stocks: 543 340 052

Dividend Yield:  0.0%
FCF Yield LTM: 4.2%
EV / LTM EBITDA: 1.6x
EV / EBITDA annualized: 0.4x
Last revenue growth (y/y):  3.4%
Last growth of EBITDA (y/y):  -4.2%
Historical revenue growth:  -8.2%
Historical growth of EBITDA:  33.0%
EV / Sales: 4.9x
Margin (EBITDA LTM / Revenue): 306.7%
Fundamental value created in LTM:
Market Cap ($m): 2 630
Net Debt ($m): -273
EV (Enterprise Value): 2 357
Price to Book: 4.3x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2023-11-21Seeking Alpha

Yatsen Holding Limited (YSG) Q3 2023 Earnings Call Transcript

2023-09-16Seeking Alpha

Yatsen Holding: Turnaround Efforts Showing Promise, Reiterate Buy

2023-08-25Seeking Alpha

Yatsen Holding Limited (YSG) Q2 2023 Earnings Call Transcript

2023-05-17Seeking Alpha

Yatsen Holding Limited (YSG) Q1 2023 Earnings Call Transcript

2023-05-09PRNewsWire

Yatsen to Announce First Quarter 2023 Financial Results on May 16, 2023
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol YSG YSG YSG YSG YSG YSG
reportedCurrency CNY CNY CNY CNY CNY CNY
cik 2M 2M 2M 2M 2M 2M
fillingDate 2023-12-31 2023-11-21 2023-08-22 2023-03-08 2023-04-26 2022-09-30
acceptedDate 2023-12-30 19:00:00 2023-11-21 06:23:46 2023-08-22 06:01:54 2023-03-08 06:02:28 2023-04-26 06:04:35 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 1 073M 718M 859M 765M 1 005M 858M
costOfRevenue 283M 205M 217M 197M 291M 267M
grossProfit 790M 513M 642M 569M 715M 591M
grossProfitRatio 0.737 0.714 0.747 0.743 0.711 0.689
researchAndDevelopmentExpenses 37M 25M 26M 24M 25M 34M
generalAndAdministrativeExpenses 159M 152M 154M 41M 170M 258M
sellingAndMarketingExpenses 717M 512M 538M 459M 535M 565M
sellingGeneralAndAdministrativeExpenses 939M 664M 693M 500M 705M 823M
otherExpenses 0 9M 12M 52M 63M 0
operatingExpenses 1 303M 744M 777M 576M 793M 857M
costAndExpenses 1 586M 950M 994M 773M 1 084M 1 124M
interestIncome 16M 30M 16M 27M 7M 11M
interestExpense 0 0 0 -57M 7M 11M
depreciationAndAmortization 43M -2M -5M 6M -8M 19M
ebitda -143M -233M -140M -2M -87M -246M
ebitdaratio -0.133 -0.325 -0.163 -0.002 -0.086 -0.287
operatingIncome -186M -232M -135M -7M -78M -266M
operatingIncomeRatio -0.173 -0.322 -0.157 -0.009 -0.078 -0.310
totalOtherIncomeExpensesNet -312M 4M 9M 58M 21M 59M
incomeBeforeTax -497M -197M -110M 51M -57M -207M
incomeBeforeTaxRatio -0.464 -0.275 -0.128 0.066 -0.056 -0.241
incomeTaxExpense 3M 654 000 -1M 186 000 -2M 4M
netIncome -491M -197M -111M 50M -55M -211M
netIncomeRatio -0.457 -0.274 -0.129 0.065 -0.055 -0.246
eps -4.600 -0.360 -0.200 0.080 -0.098 -0.370
epsdiluted -4.570 -0.360 -0.200 0.080 -0.098 -0.370
weightedAverageShsOut 107M 543M 554M 559M 559M 564M
weightedAverageShsOutDil 107M 543M 557M 593M 559M 564M
link Link Link Link Link
finalLink Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol YSG YSG YSG YSG YSG YSG
reportedCurrency CNY CNY CNY CNY CNY CNY
cik 2M 2M 2M 2M 2M 2M
fillingDate 2023-12-31 2023-11-21 2023-08-22 2023-03-08 2023-04-26 2022-09-30
acceptedDate 2023-12-30 19:00:00 2023-11-21 06:23:46 2023-08-22 06:01:54 2023-03-08 06:02:28 2023-04-26 06:04:35 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 837M 797M 987M 1 350M 1 513M 1 462M
shortTermInvestments 1 218M 1 421M 1 563M 1 145M 1 073M 1 096M
cashAndShortTermInvestments 2 055M 2 218M 2 549M 2 494M 2 586M 2 559M
netReceivables 219M 215M 205M 199M 206M 214M
inventory 352M 393M 395M 383M 423M 488M
otherCurrentAssets 325M 338M 336M 300M 293M 309M
totalCurrentAssets 2 952M 3 164M 3 485M 3 396M 3 508M 3 570M
propertyPlantEquipmentNet 179M 172M 168M 174M 209M 240M
goodwill 557M 888M 919M 867M 857M 820M
intangibleAssets 671M 669M 711M 684M 690M 670M
goodwillAndIntangibleAssets 1 228M 1 557M 1 630M 1 551M 1 547M 1 490M
longTermInvestments 619M 611M 547M 569M 503M 508M
taxAssets 0 1M 1M 1M 2M 2M
otherNonCurrentAssets 28M 61M 66M 73M 94M 102M
totalNonCurrentAssets 2 054M 2 403M 2 411M 2 368M 2 354M 2 342M
otherAssets 0 0 0 0 0 0
totalAssets 5 006M 5 567M 5 896M 5 765M 5 863M 5 913M
accountPayables 106M 106M 105M 95M 120M 157M
shortTermDebt 0 55M 62M 75M 80M 98M
taxPayables 0 19M 22M 21M 22M 22M
deferredRevenue 0 13M 15M 15M 17M 20M
otherCurrentLiabilities 506M 373M 391M 342M 372M 379M
totalCurrentLiabilities 611M 547M 573M 526M 588M 654M
longTermDebt 68M 50M 40M 37M 53M 52M
deferredRevenueNonCurrent 0 36M 39M 41M 45M 51M
deferredTaxLiabilitiesNonCurrent 0 111M 118M 113M 113M 110M
otherNonCurrentLiabilities 142M 0 0 0 0 -62M
totalNonCurrentLiabilities 210M 196M 197M 191M 212M 213M
otherLiabilities 0 0 0 0 0 0
capitalLeaseObligations 113M 104M 102M 112M 133M 150M
totalLiabilities 821M 743M 771M 718M 800M 866M
preferredStock 0 0 0 0 0 0
commonStock 173 000 173 000 173 000 173 000 173 000 173 000
retainedEarnings -7 321M -6 855M -6 658M -6 550M -6 600M -6 545M
accumulatedOtherComprehensiveIncomeLoss 60M 104M 150M -49M -50M -48M
othertotalStockholdersEquity 11 396M 11 201M 11 286M 11 302M 11 370M 11 293M
totalStockholdersEquity 4 135M 4 451M 4 779M 4 703M 4 719M 4 700M
totalEquity 4 185M 4 824M 5 125M 5 047M 4 719M 4 700M
totalLiabilitiesAndStockholdersEquity 5 006M 5 567M 5 896M 5 765M 5 863M 5 913M
minorityInterest 50M 373M 347M 344M 343M 346M
totalLiabilitiesAndTotalEquity 5 006M 5 567M 5 896M 5 765M 5 863M 5 913M
totalInvestments 1 837M 2 032M 2 109M 1 714M 1 575M 1 605M
totalDebt 68M 104M 102M 112M 133M 150M
netDebt -769M -693M -885M -1 238M -1 380M -1 312M
link Link Link Link Link
finalLink Link Link Link Link

Cash Flow Statement

Property 2023 q3 2023 q2 2022 q4 2021 q4 2020 q4 2020 q3
date 2023-09-30 2023-06-30 2022-12-31 2021-12-31 2020-12-31 2020-09-30
symbol YSG YSG YSG YSG YSG YSG
reportedCurrency USD USD USD USD CNY CNY
cik 2M 2M 2M 2M 2M 2M
fillingDate 2023-11-21 2023-08-22 2023-04-26 2022-04-22 2020-12-31 2020-09-30
acceptedDate 2023-11-21 06:23:46 2023-08-22 06:01:54 2023-04-26 06:04:35 2022-04-22 17:14:25 2020-12-31 00:00:00 2020-09-29 20:00:00
calendarYear 2023.000 2023.000 2022.000 2021.000 2020.000 2020.000
period Q3 Q2 Q4 Q4 Q4 Q3
netIncome -27M -16M 1 307M 582M -1 531M -644M
depreciationAndAmortization 2M 2M -36M -26M 106M 70M
deferredIncomeTax 0 0 -4M -1M -302 000 0
stockBasedCompensation 0 0 -921M -732M 1 244M 0
changeInWorkingCapital 0 0 -949M -949M -125M 1 201M
accountsReceivables 0 0 411M 356M -91M -90M
inventory 0 0 437M 49M -89M 0
accountsPayables 0 0 -158M -281M 63M 0
otherWorkingCapital 0 0 -1 640M -1 073M -8M 0
otherNonCashItems 29M 18M 1 136M 502M -56M -628M
netCashProvidedByOperatingActivities 4M 4M 533M -624M -362M 0
investmentsInPropertyPlantAndEquipment 0 0 264M 173M -192M 0
acquisitionsNet 0 0 129M -858M -132M 0
purchasesOfInvestments 0 0 -2 345M 76M 36M -42M
salesMaturitiesOfInvestments 0 0 1 400M -60M 158M 0
otherInvestingActivites 0 0 -263M -476M -158M 0
netCashUsedForInvestingActivites 0 0 -815M -1 144M -288M 0
debtRepayment 0 0 -10M -10M -10M 0
commonStockIssued 0 0 0 0 0 0
commonStockRepurchased 0 0 234M 234M -190M -42M
dividendsPaid 0 0 0 0 0 0
otherFinancingActivites 0 0 -6 954M -6 302M 4 726M 1 573M
netCashUsedProvidedByFinancingActivities 0 0 -6 731M -6 078M 4 526M 1 531M
effectOfForexChangesOnCash 0 0 206M 116M -107M 0
netChangeInCash -27M -64M -4 179M -2 595M 3 768M 1 201M
cashAtEndOfPeriod 109M 136M 1 554M 3 138M 5 733M 0
cashAtBeginningOfPeriod 136M 199M 5 733M 5 733M 1 965M 0
operatingCashFlow 4M 4M 533M -624M -362M 0
capitalExpenditure 0 0 264M 173M -192M -81M
freeCashFlow 4M 4M 796M -451M -554M 0
link Link Link Link Link
finalLink Link Link Link Link

Earning call transcript

2023 q4
2024-03-06 ET (fiscal 2023 q4)
2023 q3
2023-11-21 ET (fiscal 2023 q3)
2023 q2
2023-08-25 ET (fiscal 2023 q2)
2023 q1
2023-05-17 ET (fiscal 2023 q1)
2022 q4
2023-03-09 ET (fiscal 2022 q4)
2022 q3
2022-11-22 ET (fiscal 2022 q3)
2022 q2
2022-08-25 ET (fiscal 2022 q2)
2022 q1
2022-05-24 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-03-06 10:00 ET
Yatsen Announces Fourth Quarter and Full Year 2023 Financial Results
2024-02-28 10:00 ET
Yatsen to Announce Fourth Quarter and Full Year 2023 Financial Results on March 6, 2024
2023-11-21 10:00 ET
Yatsen Announces Third Quarter 2023 Financial Results and Upsizing and Extension of Share Repurchase Program
2023-11-14 10:00 ET
Yatsen to Announce Third Quarter 2023 Financial Results on November 21, 2023
2023-11-09 10:37 ET
Third time at CIIE, Perfect Diary's parent company marching on the road of science and technology
2023-11-06 22:00 ET
Yatsen Announces Receipt of NYSE Non-compliance Letter Regarding ADS Trading Price
2023-09-28 07:00 ET
Yatsen and its high-end technological skincare brand attend the "Nobel for Cosmetics," demonstrating the strength of China's beauty R&D
2023-08-22 09:00 ET
Yatsen Announces Second Quarter 2023 Financial Results
2023-08-15 09:00 ET
Yatsen to Announce Second Quarter 2023 Financial Results on August 22, 2023
2023-07-31 11:00 ET
Yatsen Issues 2022 ESG Report
2023-05-16 09:00 ET
Yatsen Announces First Quarter 2023 Financial Results
2023-05-09 09:00 ET
Yatsen to Announce First Quarter 2023 Financial Results on May 16, 2023
2023-04-26 11:00 ET
Yatsen Filed 2022 Annual Report on Form 20-F
2023-03-08 10:00 ET
Yatsen Announces Fourth Quarter and Full Year 2022 Financial Results
2023-03-01 10:00 ET
Yatsen to Announce Fourth Quarter and Full Year 2022 Financial Results on March 8, 2023
2023-01-20 12:47 ET
Rated as Grade A for ESG, YSG at Davos for discussion of sustainable fashion
2022-11-22 10:00 ET
Yatsen Announces Third Quarter 2022 Financial Results
2022-11-15 10:00 ET
Yatsen to Announce Third Quarter 2022 Financial Results on November 22, 2022
2022-08-25 10:00 ET
Yatsen Announces Second Quarter 2022 Financial Results
2022-08-18 09:00 ET
Yatsen to Announce Second Quarter 2022 Financial Results on August 25, 2022
2022-08-02 09:00 ET
Yatsen Regains Compliance with NYSE Minimum Price Continued Listing Criterion
2022-06-02 09:00 ET
Yatsen Issues Inaugural ESG Report
2022-05-24 09:00 ET
Yatsen Announces First Quarter 2022 Financial Results
2022-05-17 09:00 ET
Yatsen to Announce First Quarter 2022 Financial Results on May 24, 2022
2022-05-06 10:00 ET
Yatsen Provides Update on Status Under Holding Foreign Companies Accountable Act
2022-04-22 22:00 ET
Yatsen Filed 2021 Annual Report on Form 20-F
2022-04-12 11:30 ET
Yatsen Announces Receipt of NYSE Non-compliance Letter Regarding ADS Trading Price
2022-03-10 10:00 ET
Yatsen Announces Fourth Quarter and Full Year 2021 Financial Results
2022-03-03 10:00 ET
Yatsen to Announce Fourth Quarter and Full Year 2021 Financial Results on March 10, 2022
2021-11-18 10:00 ET
Yatsen Announces Third Quarter 2021 Financial Results and US$100 Million Share Repurchase Program
2021-11-11 10:00 ET
Yatsen to Announce Third Quarter 2021 Financial Results on November 18, 2021
2021-08-26 09:00 ET
Yatsen Reports Second Quarter 2021 Financial Results
2021-08-19 10:00 ET
Yatsen to Announce Second Quarter 2021 Financial Results on August 26, 2021
2021-05-19 09:00 ET
Yatsen Reports First Quarter 2021 Financial Results
2021-05-12 10:00 ET
Yatsen to Announce First Quarter 2021 Financial Results on May 19, 2021
2021-04-21 10:40 ET
Yatsen Filed 2020 Annual Report on Form 20-F
2021-03-11 10:00 ET
Yatsen Reports Fourth Quarter and Full Year 2020 Financial Results
2021-03-04 10:00 ET
Yatsen to Announce Fourth Quarter and Full Year 2020 Financial Results on March 11, 2021
2021-03-02 11:00 ET
Yatsen to Acquire Prestige Skincare Brand Eve Lom
2020-12-29 11:00 ET
Yatsen Enters into Strategic Collaboration with Sensient Technologies

SEC forms

Show financial reports only

SEC form 6
2024-03-06 06:06 ET
Yatsen published news for 2023 q4
SEC form 6
2024-03-06 06:06 ET
Yatsen reported for 2023 q4
SEC form 6
2023-11-21 06:23 ET
Yatsen reported for 2023 q3
SEC form 6
2023-11-06 18:00 ET
Yatsen published news for 2023 q3
SEC form 6
2023-08-22 06:01 ET
Yatsen reported for 2023 q2
SEC form 6
2023-05-16 06:01 ET
Yatsen reported for 2023 q1
SEC form 6
2023-04-26 06:26 ET
Yatsen published news for 2023 q1
SEC form 6
2023-04-26 06:04 ET
Yatsen published news for 2023 q1
SEC form 6
2023-03-08 06:02 ET
Yatsen published news for 2022 q4
SEC form 6
2023-03-08 06:01 ET
Yatsen published news for 2022 q4
SEC form 6
2022-12-30 06:03 ET
Yatsen published news for 2022 q3
SEC form 6
2022-11-22 06:02 ET
Yatsen published news for 2022 q3
SEC form 6
2022-08-26 07:00 ET
Yatsen published news for 2022 q2
SEC form 6
2022-08-25 07:00 ET
Yatsen published news for 2022 q2
SEC form 6
2022-08-02 06:02 ET
Yatsen published news for 2022 q2
SEC form 6
2022-05-24 16:00 ET
Yatsen published news for 2022 q1
SEC form 6
2022-05-24 07:10 ET
Yatsen published news for 2022 q1
SEC form 6
2022-05-06 06:01 ET
Yatsen published news for 2022 q1
SEC form 6
2022-04-22 17:14 ET
Yatsen published news for 2022 q1
SEC form 6
2022-04-12 08:52 ET
Yatsen published news for 2022 q1
SEC form 6
2022-03-10 06:26 ET
Yatsen published news for 2021 q4
SEC form 6
2021-11-18 07:00 ET
Yatsen published news for 2021 q3
SEC form 6
2021-08-26 06:03 ET
Yatsen published news for 2021 q2
SEC form 6
2021-06-30 07:00 ET
Yatsen published news for 2021 q1
SEC form 6
2021-05-21 06:05 ET
Yatsen published news for 2021 q1
SEC form 6
2021-05-19 07:11 ET
Yatsen published news for 2021 q1
SEC form 6
2021-04-21 06:03 ET
Yatsen published news for 2021 q1
SEC form 6
2021-03-11 06:01 ET
Yatsen published news for 2020 q4
SEC form 6
2021-03-03 07:30 ET
Yatsen published news for 2020 q4