Baosheng Media Group Holdings Ltd is a US-listed company in the advertising industry. Its financial year ends in December.
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~$0.1
Price-to-sales vs peers
Base case. Range ~$0.1–$0.4. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Baosheng Media Group Holdings Ltd valuation: adjust assumptions and compare models →
Baosheng Media has little or no product revenue yet; it used $2m of cash in the twelve months. It passes 1 of our 2 financial-health checks. Our price-to-sales vs peers value is $0.06 a share, against a share price of $0.15.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Baosheng Media Group Holdings Ltd's trailing-twelve-month revenue fell 8.8% year on year, with a free-cash-flow margin of -397.8%. Where it stands out: change in growth rate of +23.5pp ranks 3 of 27 advertising companies we cover. Where it lags: operating margin of -1799.4% ranks 26 of 26 advertising companies we cover.
Current signal Net income rising while operating cash flow falls: TTM net income grew 55.3% while operating cash flow fell 48.7% — earnings and cash are telling different stories.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for BAOS from the sources we follow. See filings →
We value Baosheng Media Group Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 10.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.27 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.1 ~$0.1–$0.4 | Included, half weight |
| Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.1 ~$0.1–$0.4 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Baosheng Media Group Holdings Ltd with Advertising in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Share price | $5.37 | $5.16 | $3.61 | $2.56 | $2.73 |
| Market value | $8m | $8m | $6m | $4m | $4m |
| + Net debt (− = net cash) | −$5m | −$7m | −$3m | −$1m | −$1m |
| Enterprise value | $3m | $1m | $2m | $2m | $3m |
| Multiples | |||||
| Price / sales | 2.0x | 3.3x | 6.0x | 6.3x | 7.4x |
| Price / earnings | — | — | — | — | — |
| Price / free cash flow | — | 90.9x | 2.5x | — | — |
| EV / EBITDA | — | — | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.
No analyst estimates are published for Baosheng Media Group Holdings Ltd: too few analysts cover it.
| Calendar year | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|
| Return | |||||
| BAOS | −4% | −30% | −29% | +7% | −94% |
| Industry peers (median) | −59% | +21% | −10% | −40% | −10% |
| S&P 500 | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | |||||
| BAOS | 25% | 42% | 58% | 50% | 36% |
| S&P 500 | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | |||||
| BAOS | −65% | −77% | −67% | −60% | −96% |
| S&P 500 | −25% | −10% | −8% | −19% | −9% |
Worst fall since February 8, 2021: 100% from February 8, 2021 to October 30, 2026. Getting back needed a 35105% gain, and the shares have not yet recovered.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY18 Q4 | $16.2M |
| FY19 Q4 | $17.8M |
| FY20 Q4 | $11.9M |
| FY21 Q4 | $3.9M |
| FY22 Q4 | $2.4M |
| FY23 Q4 | $921.8K |
| FY24 Q4 | $624.1K |
| FY25 Q4 | $569K |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY19 Q4 | 10.5% |
| FY20 Q4 | -33.3% |
| FY21 Q4 | -67.2% |
| FY22 Q4 | -38.3% |
| FY23 Q4 | -61.8% |
| FY24 Q4 | -32.3% |
| FY25 Q4 | -8.8% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY18 Q4 | 60.0% |
| FY19 Q4 | 58.6% |
| FY20 Q4 | 47.4% |
| FY21 Q4 | -240.9% |
| FY22 Q4 | -996.6% |
| FY23 Q4 | -253.8% |
| FY24 Q4 | -4285.7% |
| FY25 Q4 | -1799.4% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY18 Q4 | -49.3% |
| FY19 Q4 | 48.6% |
| FY20 Q4 | -28.5% |
| FY21 Q4 | -826.1% |
| FY22 Q4 | 3.6% |
| FY23 Q4 | 244.3% |
| FY24 Q4 | -320.5% |
| FY25 Q4 | -397.8% |
| Fiscal year | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 16 | 18 | 12 | 4 | 2 | 1 | 1 | 1 |
| Gross profit | 15 | 16 | 11 | 2 | −0 | 1 | 0 | 0 |
| EBITDA | 10 | 11 | 6 | −9 | −24 | −2 | −26 | −10 |
| Operating income | 10 | 10 | 6 | −9 | −24 | −2 | −27 | −10 |
| Net income | 9 | 11 | 7 | −7 | −24 | −2 | −27 | −12 |
| Diluted EPS | $9.20 | $11.00 | $6.54 | −$4.62 | −$15.47 | −$1.20 | −$17.51 | −$7.83 |
| Growth (year on year) | ||||||||
| Revenue | — | +10.5% | −33.3% | −67.2% | −38.3% | −61.8% | −32.3% | −8.8% |
| EBITDA | — | +11.0% | −43.5% | −250.0% | — | — | — | — |
| Operating income | — | +7.9% | −46.0% | −267.0% | — | — | — | — |
| Net income | — | +21.6% | −37.9% | −197.2% | — | — | — | — |
| Diluted EPS | — | +19.6% | −40.5% | −170.6% | — | — | — | — |
| Margins | ||||||||
| Gross margin | 90.9% | 89.6% | 89.5% | 46.9% | −1.3% | 66.5% | 30.5% | 12.5% |
| EBITDA margin | 60.2% | 60.5% | 51.1% | −233.6% | −980.5% | −211.2% | <−999% | <−999% |
| Operating margin | 60.0% | 58.6% | 47.4% | −240.9% | −996.6% | −253.8% | <−999% | <−999% |
| Net margin | 56.9% | 62.6% | 58.3% | −172.5% | −982.9% | −200.2% | <−999% | <−999% |
| Free-cash-flow margin | −49.3% | 48.6% | −28.5% | −826.1% | 3.6% | 244.3% | −320.5% | −397.8% |
| Cash flow | ||||||||
| Cash from operations | −7 | 9 | −3 | −31 | 2 | 2 | −2 | −2 |
| Capital spending | 1 | 1 | 0 | 1 | 2 | 0 | 0 | 0 |
| Free cash flow | −8 | 9 | −3 | −32 | 0 | 2 | −2 | −2 |
| Balance sheet | ||||||||
| Cash | 1 | 8 | 7 | 5 | 7 | 3 | 1 | 1 |
| Total debt | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −1 | −4 | −7 | −5 | −7 | −3 | −1 | −1 |
| Diluted shares | 1m | 1m | 1m | 1m | 2m | 2m | 2m | 2m |
| Returned to shareholders | ||||||||
| Dividends | — | 4 | 0 | 2 | 1 | — | — | — |
| Total returned | — | 4 | 0 | 2 | 1 | — | — | — |
| Last 12 months unless stated | BAOS | TC | EDHL | TJGC | KNRX | TDIC | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $568993 | $823751 | $2m | $4m | $6m | $6m | $202m |
| Revenue growth, last 12 months | −8.8% | −87.9% | −32.6% | −5.9% | −44.2% | 10.5% | −1.2% |
| Gross margin | 12.5% | 2.8% | 65.4% | 21.5% | 48.8% | — | 40.3% |
| Operating margin | <−999% | −582.3% | — | −78.1% | −155.5% | −134.7% | −3.3% |
| Net margin | <−999% | 38.3% | −120.6% | −81.8% | −191.2% | −146.1% | −2.3% |
| Cash from operations / revenue | −397.4% | <−999% | −123.2% | −101.3% | −172.5% | −39.4% | 3.5% |
| Free-cash-flow margin | −397.8% | <−999% | −128.0% | −103.3% | −172.8% | −39.4% | 3.9% |
| Stock pay / revenue | — | 414.9% | — | −57.9% | — | — | 2.7% |
| Change in share count | 0.0% | 9.4% | 887.3% | 13.9% | 4.1% | — | 4.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -8.8% | -1.2% | 18 of 27 |
| Change in growth rate Growth | +23.5pp | -0.5pp | 3 of 27 |
| Gross margin Profitability | 12.5% | 44.5% | 20 of 22 |
| Operating margin Profitability | -1799.4% | -3.2% | 26 of 26 |
| Net margin Profitability | -2112.8% | -2.3% | 27 of 27 |
| Free-cash-flow margin Cash generation | -397.8% | 4.7% | 25 of 26 |
| Change in share count Balance sheet | 0.0% | 4.2% | 7 of 24 |
| Days sales outstanding Balance sheet | 2935 days | 91 days | 25 of 25 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| UBS Group AG | $3,770 | 1K | 99.1% | ▲ 380.1% |
| Osaic Holdings, Inc. | $33 | 0K | 0.9% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Baosheng Media Group Holdings Ltd's complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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