Qifu Technology Stock Fair Value Calculation – QIFU TECHNOLOGY Reports Record Second Quarter Financial Results for Fiscal Year 2023
August 24, 2023
🌥️Earnings Overview
QIFU TECHNOLOGY ($NASDAQ:QFIN) reported its financial results for the quarter ended June 30, 2023, of the fiscal year 2023. Total revenue for this period was CNY 3203.7 million, showing a decrease of 12.2% compared to the same quarter of the previous year. Net income, however, increased by 12.0% to CNY 1097.4 million.
Stock Price
On Tuesday, the company’s stock opened at $16.2 and closed at $15.6, a decrease of 1.8% from the previous closing price of $15.9. These include the sale of certain non-core assets, reduced overhead costs, and increased efficiency in their operations. In addition to these financial results, QIFU TECHNOLOGY announced the implementation of several new projects and investments over the next twelve months.
These initiatives, which are aimed at further increasing the company’s sales and profitability, include the launch of new products, the expansion into new markets, and the introduction of innovative technologies into their existing operations. The impressive year-on-year growth in net income and the implementation of new projects and investments are evidence that the company is making strides towards achieving its goals. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Qifu Technology. More…
| Total Revenues | Net Income | Net Margin |
| 12.86k | 3.9k | 30.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Qifu Technology. More…
| Operations | Investing | Financing |
| 6.91k | -11.66k | 2.35k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Qifu Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 43.4k | 22.52k | 128.88 |
Key Ratios Snapshot
Some of the financial key ratios for Qifu Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.7% | – | – |
| FCF Margin | ROE | ROA |
| 53.5% | 14.4% | 6.7% |
Analysis – Qifu Technology Stock Fair Value Calculation
At GoodWhale, we have conducted an in-depth analysis of the wellbeing of QIFU TECHNOLOGY. Our proprietary Valuation Line has determined that the intrinsic value of QIFU TECHNOLOGY shares is around $15.8. Currently, QIFU TECHNOLOGY stock is being traded at $15.6, a fair price, but undervalued by 1.6%. We believe that investing in QIFU TECHNOLOGY stock at such an undervalued rate presents a great opportunity for investors. More…
Peers
The competition between 360 DigiTech Inc and its competitors is fierce. All four companies are vying for a share of the Chinese market for online lending platforms. 360 DigiTech Inc is the clear leader in terms of market share, but the other three companies are not far behind. LexinFintech Holdings Ltd, FinVolution Group, and Qudian Inc all have strong brands and are well-funded. They are all aggressive marketers and are constantly innovating to try to gain an edge over the competition.
– LexinFintech Holdings Ltd ($NASDAQ:LX)
LexinFintech Holdings Ltd is a Chinese fintech company that provides online financial services through its subsidiary, Fenqile. The company has a market cap of 298.71M as of 2022 and a Return on Equity of 10.43%. LexinFintech Holdings Ltd is a leading provider of online consumer finance in China. The company offers a suite of products and services including unsecured personal loans, credit products, and investment products.
– FinVolution Group ($NYSE:FINV)
FinVolution Group is a leading provider of online financial services in China. The company offers a wide range of products and services, including personal loans, micro-loans, credit management, and wealth management products. The company’s market cap as of 2022 is 1.41B, and its ROE is 14.08%. Founded in 2006, FinVolution Group has a strong track record of growth and profitability. The company is well-positioned to continue its growth in the Chinese online financial services market.
– Qudian Inc ($NYSE:QD)
Qudian Inc is a provider of small consumer credit products in China. The company offers cash loans, installment loans, and other credit products to borrowers through an online platform. It also provides value-added services, such as loan renewal and late payment insurance.
As of 2022, Qudian Inc had a market cap of 219.98M and a ROE of 2.23%. The company offers small consumer credit products in China through an online platform. It also provides value-added services, such as loan renewal and late payment insurance.
Summary
QIFU TECHNOLOGY reported a total revenue of CNY 3203.7 million for the second quarter of its 2023 fiscal year, a decrease of 12.2% compared to the same quarter of the previous year. Net income however increased by 12.0% to CNY 1097.4 million. Investors should consider the performance of the company in the second quarter of 2023 when making their investment decisions.
QIFU TECHNOLOGY’s stock price may be worth monitoring in the near future as the company appears to be showing signs of a possible upturn in its financial performance. Investors should also consider the company’s long-term prospects in order to make an informed decision about investing in the company.
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