DDC Enterprise Ltd key statistics and ratios

In fiscal 2025, DDC Enterprise Ltd had return on equity of -127.7%, an operating margin of -90.0%, debt equal to 8.4% of equity and a current ratio of 0.88. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

DDC Enterprise Ltd: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	17.8%	24.5%	25.0%	28.4%	31.4%
Operating margin	−55.4%	−44.5%	−71.2%	−50.3%	−90.0%
Net margin	−223.6%	−68.1%	−78.8%	−62.3%	−130.2%
Free-cash-flow margin	0.4%	0.2%	−43.6%	−41.4%	−101.3%
Return on equity	—	—	—	—	−127.7%
Return on assets	—	−49.2%	−46.6%	−37.1%	−37.3%
Asset turnover	—	0.72	0.59	0.60	0.29
Current ratio	—	0.59	1.14	1.02	0.88
Debt to equity	—	—	19.3%	129.4%	8.4%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	0.1%	—	—	—	—
Capital spending as % of revenue	0.1%	0.1%	0.1%	0.1%	0.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · December 31, 2025

What it owns · $200m

Short-term assets $84mLonger-term assets $116m

What it owes, and who funded it · $192m

Short-term liabilities $96mLonger-term liabilities $25mShareholders' equity $71m

Short-term assets cover short-term liabilities $84m of assets due within a year against $96m of liabilities due within a year.
Short-term assets cover long-term liabilities $84m short-term assets against $25m of longer-dated liabilities.
More cash than debt $3m of cash against $711,407 of debt.
Debt below 40% of shareholders' equity Debt is 1% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$39m of operating cash flow against $711,407 of debt.
Operating profit covers interest at least five times over Operating income of −$34m against $3m of interest.

From DDC Enterprise Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from DDC Enterprise Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to DDC Enterprise Ltd.