tradmap

BQ Financials Boqii Holding Ltd

8 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings, in CNY as reported — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 16.1% per year over the past 5 years.
  • Operating margin has expanded, at -7.1% in the latest year.

Financial health

  • The company holds more cash (CN¥49M) than total debt (CN¥32M).
  • Total debt has grown slower than revenue (-33.1% vs -16.1% per year).
  • Operating income covered interest expense -36.3× in the latest year.
  • The company is unprofitable; at its current free-cash-flow burn it has roughly 1.6 years of cash runway.
Revenue & net income
-CN¥234M CN¥476M CN¥1B CN¥0 2019 2020 2021 2022 2023 2024 2025 2026
RevenueNet income
Margins (gross / operating / net)
-29% -1% 26% 0% 2019 2020 2021 2022 2023 2024 2025 2026
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-235% -113% 9% 0% 2019 2020 2021 2022 2023 2024 2025 2026
ROEROA
Free cash flow (CFO − capex)
-CN¥254M -CN¥127M CN¥0 2019 2020 2021 2022 2023 2024 2025 2026
Free cash flow
Cash vs total debt
CN¥0 CN¥161M CN¥322M 2019 2020 2021 2022 2023 2024 2025 2026
CashTotal debt
Cash flow: operating / investing / financing
-CN¥247M CN¥201M CN¥648M CN¥0 2019 2020 2021 2022 2023 2024 2025 2026
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2026 CN¥420M -CN¥5M 26.3% -7.1% -2.7% -2.1% -CN¥30M CN¥32M CN¥49M
2025 CN¥469M -CN¥54M 21.5% -12.7% -28.5% -17.1% -CN¥70M CN¥18M CN¥39M
2024 CN¥709M -CN¥64M 19.8% -8.5% -29.1% -16.6% -CN¥26M CN¥30M CN¥73M
2023 CN¥1.1B -CN¥103M 21.4% -9.5% -57.7% -19.0% -CN¥56M CN¥173M CN¥90M
2022 CN¥1.2B -CN¥128M 20.5% -11.7% -64.5% -16.5% -CN¥151M CN¥322M CN¥163M
2021 CN¥1.0B -CN¥194M 18.5% -20.4% -235.2% -22.1% -CN¥254M CN¥239M CN¥292M
2020 CN¥770M -CN¥179M 20.6% -17.8% 8.9% -39.2% -CN¥167M CN¥128M CN¥88M
2019 CN¥804M -CN¥234M 25.4% -25.0% — — -CN¥208M — —

Valuation over time

How the market has priced BQ against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / sales (P/S)
0.0 0.4 0.9 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S

Frequently asked questions

Is BQ growing its revenue and profit?

Over the past 5 years, Boqii Holding Ltd's revenue has declined 16.1% per year. These are computed facts, not advice.

How much debt does BQ have?

As of FY2026, Boqii Holding Ltd reported CN¥32M of total debt against CN¥49M of cash; operating income covered interest expense -36.3×.

What is BQ's profit margin?

In FY2026, gross margin was 26.3%, operating margin -7.1%, and net margin -1.2%.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in CNY as reported (valuation multiples convert at the Federal Reserve H.10 rate of each date, via FRED) (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (annual and interim filings, reported in CNY) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · FX: Federal Reserve H.10 via FRED (DEXCHUS; 1 CNY = 0.1503 USD on 2026-10-30), the rate of each date for the valuation history · This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.