Cheer Holding vs System1
System1 is the larger business, with $266m of revenue in fiscal 2025 against $149m for Cheer Holding (1.8 times as much). Cheer Holding grew faster (1.1% against -22.6%). Cheer Holding kept more of each dollar of sales as profit: a net margin of 17.2% against -24.6%.
| Latest fiscal year | Cheer HoldingCHR, 2025 | System1SST, 2025 |
|---|---|---|
| Revenue | $149m | $266m |
| Revenue growth | 1.1% | -22.6% |
| Net income | $25.6m | −$65.3m |
| Operating margin | — | -23.3% |
| Net margin | 17.2% | -24.6% |
| Return on equity | 7.6% | -118.0% |
| Free cash flow | $17.9m | −$4.2m |
| Cash | $242m | $86.9m |
| Total debt | $7.7m | $305m |
| Debt to equity | — | 1001.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $557,000 |
| Employees | 173 | 250 |
| Market value | $1.5m | $14.2m |
| Price vs our value range | Below our value range | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 1 buys, 0 sales |