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So-Young International Inc (SY)
NASDAQ:SY
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So-Young International
(NASDAQ:SY)
64Neutral
So-Young International (SY) vs. S&P 500 (SPY)
Market Cap
$88.42M
Dividend YieldN/A
Average Volume (3M)87.75K
Price to Earnings (P/E)18.0
Beta (1Y)1.19
Revenue Growth1.75%
EPS Growth6.36%
CountryUS
Employees1,357
SectorHealthcare
Sector Strength78
IndustryHealthcare Providers & Services
Share Statistics
EPS (TTM)0.05
Shares Outstanding86,409,950
10 Day Avg. Volume82,117
30 Day Avg. Volume87,755
Financial Highlights & Ratios
PEG Ratio2.84
Price to Book (P/B)N/A
Price to Sales (P/S)1.63
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
So-Young International Business Overview & Revenue Model
Company DescriptionSo-Young International (SY) is a leading online platform dedicated to the medical aesthetics industry, primarily in China. The company provides a comprehensive marketplace where consumers can access information, reviews, and services related to cosmetic surgery and aesthetic medical treatments. So-Young's platform serves as a bridge between consumers and a wide network of healthcare providers, enhancing transparency and accessibility in the medical aesthetics sector.
How the Company Makes MoneySo-Young International generates revenue primarily through advertising services and transaction fees. The company's platform offers healthcare providers the opportunity to advertise their services to a targeted audience, thus generating ad revenue. Additionally, So-Young charges transaction fees on bookings made through its platform, providing a significant revenue stream. The company's earnings are further supported by partnerships with clinics and practitioners, facilitating a mutually beneficial ecosystem within the medical aesthetics industry.
So-Young International Financial Statement Overview
Summary
So-Young International shows potential with notable revenue growth and strong gross margin. However, challenges remain in converting revenue into net profit and generating positive free cash flow. The balance sheet is a strong point with a solid equity base and low leverage, indicating stability. The company needs to focus on improving operational efficiency and cash flow management to enhance its overall financial health.Income Statement
The company exhibits a mixed performance in its income statement. The gross profit margin for the latest year is approximately 63.7%, indicating strong profitability in core operations. However, the net profit margin is about 1.4%, revealing challenges in controlling overall expenses. Revenue grew by 19% from the previous year, which is a positive sign of growth. EBIT and EBITDA margins are negative, indicating potential operational inefficiencies.55
Neutral
Balance Sheet
The balance sheet shows a healthy equity ratio of 76%, reflecting a solid financial position with considerable equity backing. The debt-to-equity ratio is low at approximately 0.06, suggesting limited leverage and financial risk. Return on equity is positive at 0.9%, although relatively modest, it marks an improvement from losses in prior years.70
Positive
Cash Flow
Cash flow analysis indicates challenges, with a negative free cash flow of approximately -28.7 million, though an improvement from the previous year's deeper negative value. Operating cash flow to net income ratio is around 1.06, suggesting that operational cash generation is in line with net income. However, free cash flow to net income ratio is negative, highlighting issues in cash retention after capital expenditures.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 1.50B | 1.50B | 1.26B | 1.69B | 1.29B | 1.15B | Gross Profit |
| 948.92M | 953.69M | 864.58M | 1.36B | 1.08B | 953.01M | EBIT |
| -37.01M | -61.05M | -102.81M | 82.79M | -56.69M | 145.18M | EBITDA |
| -2.19M | -14.96M | -55.72M | 63.39M | -42.61M | 151.30M | Net Income Common Stockholders |
| 33.51M | 21.28M | -66.11M | -37.64M | 5.81M | 176.72M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 1.33B | 1.33B | 1.57B | 1.74B | 2.65B | 2.83B | Total Assets |
| 3.21B | 3.21B | 3.20B | 3.33B | 3.29B | 3.23B | Total Debt |
| 145.77M | 145.77M | 71.26M | 105.89M | 132.51M | 158.60M | Net Debt |
| -280.35M | -280.35M | -623.16M | -1.23B | -994.54M | -726.07M | Total Liabilities |
| 653.25M | 653.25M | 590.00M | 813.33M | 672.44M | 587.32M | Stockholders Equity |
| 2.44B | 2.44B | 2.50B | 2.45B | 2.60B | 2.64B |
| Cash Flow | Free Cash Flow | ||||
| 0.00 | -28.68M | -128.58M | 39.23M | 142.22M | 346.28M | Operating Cash Flow |
| 0.00 | 22.50M | -112.87M | 84.29M | 179.18M | 383.82M | Investing Cash Flow |
| 0.00 | -202.61M | -572.21M | 339.82M | 123.84M | -1.34B | Financing Cash Flow |
| 0.00 | -100.02M | -13.59M | -216.74M | -5.80M | 1.27B |
So-Young International Technical Analysis
Negative
0.87
Price Trends
0.90
Negative
0.89
Negative
0.93
Negative
Market Momentum
>-0.01
Positive
40.56
Neutral
15.49
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SY, the sentiment is Negative. The current price of 0.87 is below the 20-day moving average (MA) of 0.94, below the 50-day MA of 0.90, and below the 200-day MA of 0.93, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.56 is Neutral, neither overbought nor oversold. The STOCH value of 15.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SY.
So-Young International Risk Analysis
So-Young International disclosed 86 risk factors in its most recent earnings report. So-Young International reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
So-Young International Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $88.42M | 18.05 | 1.45% | ― | 1.75% | 6.36% | |
54 Neutral | $228.46M | ― | 1.10% | ― | 17.56% | 48.73% | |
49 Neutral | $6.90B | -0.08 | -53.01% | 2.43% | 24.84% | -3.06% | |
45 Neutral | $1.56B | ― | -52.46% | ― | -1.26% | -338.56% | |
43 Neutral | $127.07M | ― | -54.13% | ― | -1.81% | 70.88% |
* Healthcare Sector Average
Performance Comparison
SY
So-Young International
0.87
-0.13
-13.00%
EHTH
Ehealth
7.62
1.36
21.73%
TDOC
Teladoc
9.00
-6.37
-41.44%
AMWL
American Well
8.14
-10.06
-55.27%
So-Young International Earnings Call Summary
Earnings Call Date: Nov 20, 2024 | % Change Since: -2.25% | Next Earnings Date: Mar 20, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant achievements in the expansion of clinics and increased profitability, alongside effective cost management and high customer satisfaction. However, there were notable declines in total revenue and specific service areas. The strategic initiatives and positive cash flows from new clinics suggest a strong future outlook, balancing the current challenges.Highlights
Revenue and Net Income Growth
Total revenue reached RMB 332 million, surpassing guidance. Net income attributable to So-Young was RMB 20.3 million, up 11.2% year-over-year. Non-GAAP net income was RMB 22.2 million, up 133.1% year-over-year.
Chain of Clinics Expansion and Performance
Expanded clinics from 8 to 17, with revenue growing by 67% quarter-over-quarter. All new clinics are generating positive cash flow, with 4 already profitable at the store level.
Upstream and New Business Growth
Revenue from sales of medical products and maintenance services reached RMB 89.3 million, up 18.7% year-over-year. Elasti shipments increased 22% year-over-year.
Customer Satisfaction and Retention
Customer retention rate maintained at 60%. Overall customer satisfaction at clinics reached 4.98 out of 5.
Effective Expense Control
Operating expenses down 8.1% year-over-year. Sales and marketing expenses reduced by 20.1% year-over-year.
Lowlights
Decline in Total Revenue
Total revenues during the quarter were RMB 371.8 million, down 3.5% year-over-year.
Drop in Information and Reservation Services
Information services and other revenues down 8% year-over-year. Reservation services revenues decreased 18.9% year-over-year.
Higher G&A Expenses
G&A expenses were RMB 69.9 million, up 39.1% year-over-year due to increased share-based compensation.
Company Guidance
During the earnings call for the third quarter of 2024, So-Young presented several key metrics and outlined its guidance for the future. The company reported total revenue of RMB 332 million, exceeding the upper end of their guidance range, and net income attributable to So-Young of RMB 20.3 million, marking an 11.2% year-over-year increase. The non-GAAP net income soared by 133.1% to RMB 22.2 million. The expansion of their chain of clinics was highlighted as a significant growth driver, with revenue growing by 67% quarter-over-quarter and gross margins improving. The company also expanded its clinics from 8 to 17, with all new clinics generating positive operating cash flow and four already profitable at the store level. Customer retention was maintained at 60%, and customer satisfaction reached 4.98 out of 5. Looking forward, So-Young expects fourth-quarter revenue between RMB 350 million and RMB 370 million, while emphasizing strategic initiatives aimed at integrating the upstream and downstream segments of the aesthetic medical industry to position for long-term growth.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.