(SY) So-Young International - Overview
Stock: App, Laser, Injectable, Device, Platform
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 3.69% |
| Yield on Cost 5y | 0.21% |
| Yield CAGR 5y | -55.00% |
| Payout Consistency | 80.9% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 95.3% |
| Relative Tail Risk | -9.44% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.76 |
| Alpha | 268.32 |
| Character TTM | |
|---|---|
| Beta | 0.817 |
| Beta Downside | 0.652 |
| Drawdowns 3y | |
|---|---|
| Max DD | 74.12% |
| CAGR/Max DD | 0.20 |
Description: SY So-Young International December 29, 2025
So-Young International Inc. (NASDAQ: SY) runs China’s largest online platform for consumer-focused healthcare and medical aesthetics, offering a mobile app, Weixin mini-program, and website that combine educational content, community interaction, and appointment-booking for a range of aesthetic procedures.
The company’s service suite spans non-invasive and minimally invasive treatments-such as thread lifts, intense pulsed light, ultrasound facelifts, picosecond lasers, body-contouring, Botox, hyaluronic-acid fillers, and collagen injections-as well as a portfolio of proprietary light-therapy and surgical laser devices, plus ancillary services like dermatology, dentistry, gynecology, post-natal care, and content-driven engagement (beauty diaries, short-form videos, reviews, and chat).
In FY 2023 SY reported roughly $150 million in revenue, up about 30 % YoY, and its registered user base exceeded 30 million, reflecting the broader Chinese aesthetic market’s estimated 15 % CAGR through 2027 driven by rising disposable income and urbanization. However, the firm remains exposed to tightening Chinese medical-device regulations, which could affect product roll-outs. For a deeper dive into SY’s valuation metrics, you might find ValueRay’s analyst notes useful.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: -741.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -2.47 > 1.0 |
| NWC/Revenue: 56.41% < 20% (prev 77.98%; Δ -21.57% < -1%) |
| CFO/TA -0.01 > 3% & CFO -25.6m > Net Income -741.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (130.9m) vs 12m ago -1.01% < -2% |
| Gross Margin: 51.61% > 18% (prev 0.63%; Δ 5099 % > 0.5%) |
| Asset Turnover: 48.15% > 50% (prev 45.04%; Δ 3.11% > 0%) |
| Interest Coverage Ratio: -0.19 > 6 (EBITDA TTM -210.8m / Interest Expense TTM 619.1m) |
Altman Z'' -0.80
| A: 0.31 (Total Current Assets 1.48b - Total Current Liabilities 672.6m) / Total Assets 2.64b |
| B: -0.40 (Retained Earnings -1.06b / Total Assets 2.64b) |
| C: -0.04 (EBIT TTM -118.1m / Avg Total Assets 2.97b) |
| D: -1.17 (Book Value of Equity -998.1m / Total Liabilities 852.8m) |
| Altman-Z'' Score: -0.80 = CCC |
Beneish M -3.57
| DSRI: 0.69 (Receivables 92.3m/138.6m, Revenue 1.43b/1.49b) |
| GMI: 1.22 (GM 51.61% / 62.89%) |
| AQI: 0.69 (AQ_t 0.25 / AQ_t-1 0.37) |
| SGI: 0.96 (Revenue 1.43b / 1.49b) |
| TATA: -0.27 (NI -741.0m - CFO -25.6m) / TA 2.64b) |
| Beneish M-Score: -3.57 (Cap -4..+1) = AAA |
What is the price of SY shares?
Over the past week, the price has changed by +18.31%, over one month by +27.27%, over three months by -22.22% and over the past year by +294.00%.
Is SY a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the SY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 7.8 | 132.1% |
| Analysts Target Price | 7.8 | 132.1% |
| ValueRay Target Price | 3.4 | 1.8% |
SY Fundamental Data Overview February 02, 2026
P/E Forward = 16.0514
P/S = 0.1976
P/B = 1.1781
Revenue TTM = 1.43b CNY
EBIT TTM = -118.1m CNY
EBITDA TTM = -210.8m CNY
Long Term Debt = 225.7m CNY (from capitalLeaseObligations, last quarter)
Short Term Debt = 105.6m CNY (from shortTermDebt, last quarter)
Debt = 265.6m CNY (from shortLongTermDebtTotal, last quarter)
Net Debt = -67.8m CNY (from netDebt column, last quarter)
Enterprise Value = 1.35b CNY (1.96b + Debt 265.6m - CCE 875.2m)
Interest Coverage Ratio = -0.19 (Ebit TTM -118.1m / Interest Expense TTM 619.1m)
EV/FCF = -15.36x (Enterprise Value 1.35b / FCF TTM -88.2m)
FCF Yield = -6.51% (FCF TTM -88.2m / Enterprise Value 1.35b)
FCF Margin = -6.16% (FCF TTM -88.2m / Revenue TTM 1.43b)
Net Margin = -51.75% (Net Income TTM -741.0m / Revenue TTM 1.43b)
Gross Margin = 51.61% ((Revenue TTM 1.43b - Cost of Revenue TTM 692.8m) / Revenue TTM)
Gross Margin QoQ = 47.29% (prev 51.27%)
Tobins Q-Ratio = 0.51 (Enterprise Value 1.35b / Total Assets 2.64b)
Interest Expense / Debt = 3.87% (Interest Expense 10.3m / Debt 265.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = -93.3m (EBIT -118.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.20 (Total Current Assets 1.48b / Total Current Liabilities 672.6m)
Debt / Equity = 0.16 (Debt 265.6m / totalStockholderEquity, last quarter 1.67b)
Debt / EBITDA = 0.32 (negative EBITDA) (Net Debt -67.8m / EBITDA -210.8m)
Debt / FCF = 0.77 (negative FCF - burning cash) (Net Debt -67.8m / FCF TTM -88.2m)
Total Stockholder Equity = 1.76b (last 4 quarters mean from totalStockholderEquity)
RoA = -24.92% (Net Income -741.0m / Total Assets 2.64b)
RoE = -42.16% (Net Income TTM -741.0m / Total Stockholder Equity 1.76b)
RoCE = -5.96% (EBIT -118.1m / Capital Employed (Equity 1.76b + L.T.Debt 225.7m))
RoIC = -5.14% (negative operating profit) (NOPAT -93.3m / Invested Capital 1.81b)
WACC = 8.23% (E(1.96b)/V(2.23b) * Re(8.93%) + D(265.6m)/V(2.23b) * Rd(3.87%) * (1-Tc(0.21)))
Discount Rate = 8.93% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 14.36%
Fair Price DCF = unknown (Cash Flow -88.2m)
EPS Correlation: -15.83 | EPS CAGR: 0.34% | SUE: 0.05 | # QB: 0
Revenue Correlation: 16.99 | Revenue CAGR: -3.94% | SUE: 0.00 | # QB: 0
EPS next Year (2026-12-31): EPS=0.90 | Chg30d=+0.035 | Revisions Net=-1 | Growth EPS=+171.4% | Growth Revenue=+58.9%