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Credit services · Financial Services · Fiscal year ends Dec 31 · Reports in CNY
Lufax reported revenue of CNY 5.6B in the fiscal year ended Dec 2025, down 31.5% from the year before. Operating income was −CNY 319M, an operating margin of −5.7%, and net income was −CNY 1.7B. Net debt was CNY 52.4B.
Ranks among the 35 credit services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 38,294 | 29,215 | 15,319 | 8,161 | 5,588 |
| Operating incomederived: pre-tax income + interest | 24,396 | 13,219 | 1,938 | −1,994 | −319 |
| Interest expense | 996 | 1,173 | 349 | 84.8 | 258 |
| Pre-tax income | 23,400 | 12,046 | 1,588 | −2,079 | −578 |
| Income tax | 6,691 | 4,188 | 635 | 1,525 | 1,134 |
| Net income | 16,709 | 7,858 | 953 | −3,604 | −1,712 |
| Diluted EPS | – | 6.78 | 0.71 | – | – |
| Diluted shares | 1,360 | 1,147 | 1,147 | 1,395 | 1,733 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 26,522 | 29,595 | 18,577 | 11,798 | 11,089 |
| Net PP&E | 380 | 330 | 186 | 64.1 | 54.1 |
| Goodwill | 8,918 | 8,911 | 8,911 | 9,176 | 9,169 |
| Total assets | 360,433 | 350,967 | 234,382 | 203,537 | 208,115 |
| Long-term debt | 25,927 | 36,916 | 38,823 | 51,115 | 63,536 |
| Total liabilities | 265,874 | 257,289 | 141,888 | 119,939 | 126,074 |
| Shareholders' equity | 93,054 | 92,060 | 90,935 | 81,773 | 79,830 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 4,987 | 4,955 | 12,720 | 1,817 | 12,473 |
| Stock-based compensation | 133 | 45.2 | −36.2 | −18.1 | 0.4 |
| Acquisitions | – | 0.0 | 0.0 | 697 | 3.3 |
| Share buybacks | 6,438 | 0.0 | 0.0 | – | – |
| Dividends paid | 0.0 | 7,717 | 1,435 | 5,133 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −23.7% | −47.6% | −46.7% | −31.5% |
| Operating income growth (YoY) | – | −45.8% | −85.3% | −202.9% | – |
| EPS growth (YoY) | – | – | −89.5% | – | – |
| Operating margin | 63.7% | 45.2% | 12.6% | −24.4% | −5.7% |
| Net margin | 43.6% | 26.9% | 6.2% | −44.2% | −30.6% |
| Return on equityBlank when equity is negative | 18.0% | 8.5% | 1.0% | −4.4% | −2.1% |
| Cash conversion (CFO ÷ net income) | 0.30x | 0.63x | 13.3x | −0.50x | −7.29x |
| Interest cover | 24.5x | 11.3x | 5.55x | −23.5x | −1.24x |
| Debt ÷ equity | 0.28x | 0.40x | 0.43x | 0.63x | 0.80x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −595 | 7,321 | 20,246 | 39,316 | 52,447 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.