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Fangdd Network Group Ltd. (DUO) stock

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NASDAQ: DUO Nasdaq Real Estate Services

D Fundamentals grade

Fangdd Network Group Ltd. is a US-listed company in the real estate services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: share count (7m) is 0.15x the market-data count (42m).

Price vs value

Under review: share count (7m) is 0.15x the market-data count (42m). We'll show the comparison once resolved.

Fangdd Network Group Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds6 adding, 2 cuttingOf 1 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Fangdd Network Group files

Where Fangdd Network stands after its latest Filing

Revenue for the twelve months was $49m, up 4.8% on a year earlier, slower than the 17.0% growth a quarter earlier. Free-cash-flow margin fell to -23.6% from -7.8% a year earlier. Operating margin widened to -37.6% from -101.6%. The diluted share count is up 859.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks.

Our model value for Fangdd Network Group is under review, so past values are not shown until it is resolved.

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.

The Fundamentalytics view

Fangdd Network Group Ltd.'s trailing-twelve-month revenue grew 4.8% year on year, with a free-cash-flow margin of -23.6%. Where it stands out: stock pay as % of revenue of 0.0% ranks 4 of 21 real estate services companies we cover. Where it lags: change in share count of 859.5% ranks 20 of 20 real estate services companies we cover.

Current signal Share count rising (dilution): Diluted shares outstanding rose 859.5% year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Fangdd Network Group Ltd.'s latest figures clears our strength thresholds.

Things to watch

  • Growth slowing. The growth rate is 12.3 points lower than a quarter earlier.
  • Loss-making. Operating margin is -37.6%: costs exceed revenue.
  • Burning cash. Free cash flow was -23.6% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 859.5% in a year.
  • Below peers: days sales outstanding. Days sales outstanding of 156 days ranks 15 of 15 real estate services companies we cover (median 22 days).

Price chart

  • 1 day-1.9%
  • 1 week-3.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$49.4M
Operating margin
-37.6%
Net margin
-23.9%
EPS (TTM, diluted)
$-1.80

Growth

Revenue growth
+4.8%
Change in growth rate
−12.3 pts
Share count change
+859.5%

Cash

Free cash flow (TTM)
-$11.6M
FCF margin
-23.6%
Stock pay % of revenue
0.0%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for DUO from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Fangdd Network Group Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: share count (7m) is 0.15x the market-data count (42m): held for review.

Moat

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

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

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Fangdd Network Group Ltd.: too few analysts cover it.

Positioning

Short interest
0.8%
of tradable shares
Days to cover
1.65
at average volume
Short interest, 1 month
−24%
to October 15, 2026
Held by institutions
1%
of shares
Held by insiders
0.0%
of shares
Employees
144
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Fangdd Network Group Ltd. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Fangdd Network Group Ltd.
$0 $200M $400M $600M FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue (TTM), FY17 Q4: $266.3M Revenue (TTM), FY18 Q4: $345.8M Revenue (TTM), FY19 Q4: $521.3M Revenue (TTM), FY20 Q4: $355.3M Revenue (TTM), FY21 Q4: $146.1M Revenue (TTM), FY22 Q4: $36.6M Revenue (TTM), FY23 Q4: $40.3M Revenue (TTM), FY24 Q4: $47.1M Revenue (TTM), FY25 Q4: $49.4M $49.4M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY17 Q4 $266.3M
FY18 Q4 $345.8M
FY19 Q4 $521.3M
FY20 Q4 $355.3M
FY21 Q4 $146.1M
FY22 Q4 $36.6M
FY23 Q4 $40.3M
FY24 Q4 $47.1M
FY25 Q4 $49.4M
Revenue growth, TTM YoY Fangdd Network Group Ltd.
-100% -50% 0% 50% 100% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue growth, TTM YoY, FY18 Q4: 29.9% Revenue growth, TTM YoY, FY19 Q4: 50.7% Revenue growth, TTM YoY, FY20 Q4: -31.8% Revenue growth, TTM YoY, FY21 Q4: -58.9% Revenue growth, TTM YoY, FY22 Q4: -74.9% Revenue growth, TTM YoY, FY23 Q4: 10.0% Revenue growth, TTM YoY, FY24 Q4: 17.0% Revenue growth, TTM YoY, FY25 Q4: 4.8% 4.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY18 Q4 29.9%
FY19 Q4 50.7%
FY20 Q4 -31.8%
FY21 Q4 -58.9%
FY22 Q4 -74.9%
FY23 Q4 10.0%
FY24 Q4 17.0%
FY25 Q4 4.8%
Operating margin (TTM) Fangdd Network Group Ltd.
-150% -100% -50% 0% 50% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Operating margin (TTM), FY17 Q4: -0.3% Operating margin (TTM), FY18 Q4: 3.0% Operating margin (TTM), FY19 Q4: -14.9% Operating margin (TTM), FY20 Q4: -9.2% Operating margin (TTM), FY21 Q4: -101.6% Operating margin (TTM), FY22 Q4: -101.4% Operating margin (TTM), FY23 Q4: -93.1% Operating margin (TTM), FY24 Q4: -37.1% Operating margin (TTM), FY25 Q4: -37.6% -37.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY17 Q4 -0.3%
FY18 Q4 3.0%
FY19 Q4 -14.9%
FY20 Q4 -9.2%
FY21 Q4 -101.6%
FY22 Q4 -101.4%
FY23 Q4 -93.1%
FY24 Q4 -37.1%
FY25 Q4 -37.6%
FCF margin (TTM) Fangdd Network Group Ltd.
-80% -60% -40% -20% 0% 20% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 FCF margin (TTM), FY17 Q4: -37.8% FCF margin (TTM), FY18 Q4: 5.3% FCF margin (TTM), FY19 Q4: 3.2% FCF margin (TTM), FY20 Q4: -13.7% FCF margin (TTM), FY21 Q4: -7.8% FCF margin (TTM), FY22 Q4: -51.7% FCF margin (TTM), FY23 Q4: -65.4% FCF margin (TTM), FY24 Q4: -20.2% FCF margin (TTM), FY25 Q4: -23.6% -23.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY17 Q4 -37.8%
FY18 Q4 5.3%
FY19 Q4 3.2%
FY20 Q4 -13.7%
FY21 Q4 -7.8%
FY22 Q4 -51.7%
FY23 Q4 -65.4%
FY24 Q4 -20.2%
FY25 Q4 -23.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2017 Dec 2017 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 266 346 521 355 146 37 40 47 49
Gross profit 56 72 110 60 17 4 6 9 9
EBITDA 4 13 −77 −32 −147 −37 −37 −17 −17
Operating income −1 11 −78 −33 −148 −37 −37 −17 −19
Net income 0 16 −74 −32 −182 −36 −13 4 −12
Diluted EPS −$0.00 −$0.00 −$0.02 −$0.00 −$0.01 −$9.83 −$5.05 $0.63 −$1.80
Growth (year on year)
Revenue — +29.9% +50.7% −31.8% −58.9% −74.9% +10.0% +17.0% +4.8%
EBITDA — — −707.9% — — — — — —
Operating income — — −839.4% — — — — — —
Net income — — −568.9% — — — — — −375.1%
Diluted EPS — — — — — — — — −386.7%
Margins
Gross margin 21.2% 20.9% 21.0% 16.9% 11.3% 10.1% 14.5% 18.2% 17.9%
EBITDA margin 1.4% 3.7% −14.8% −9.1% −100.8% −100.3% −92.8% −36.9% −34.6%
Operating margin −0.3% 3.0% −14.9% −9.2% −101.6% −101.4% −93.1% −37.1% −37.6%
Net margin 0.0% 4.6% −14.2% −9.0% −124.3% −99.2% −32.2% 9.1% −23.9%
Free-cash-flow margin −37.8% 5.3% 3.2% −13.7% −7.8% −51.7% −65.4% −20.2% −23.6%
Cash flow
Cash from operations −100 20 17 −47 −9 −19 −26 −8 −8
Capital spending 1 1 0 1 2 0 0 1 3
Free cash flow −101 18 17 −49 −11 −19 −26 −10 −12
Stock-based pay — 0 108 15 7 2 0 0 —
Free cash flow after stock pay — 18 −91 −63 −19 −21 −26 −10 —
Balance sheet
Cash 194 65 159 129 77 21 17 10 4
Total debt 0 0 0 0 0 11 0 0 0
Net debt (negative = net cash) −194 −65 −159 −129 −77 −10 −17 −10 −4
Diluted shares 9,457m 9,457m 10,879m 19,933m 20,224m 4m 3m 7m 7m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · December 31, 2025
What it owns · $113m
Short-term assets $56mLonger-term assets $57m
What it owes, and who funded it · $113m
Short-term liabilities $30mLonger-term liabilities $0mShareholders' equity $83m
  • Short-term assets cover short-term liabilities $56m of assets due within a year against $30m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $56m short-term assets against $0 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • 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 Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Fangdd Network Group 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.

Dividends, buybacks and capital spending

Diluted share count
+859.5%
year over year
R&D spending
7.2%
of revenue
Days sales outstanding
156 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in real estate services
Last 12 months unless stated DUO SRTM CHCI MKZR OMH OPAD Median
Revenue, last 12 months $49m $62m $77m $20m $9m $350m $2.2bn
Revenue growth, last 12 months 4.8% −6.4% 39.2% −9.3% 15.0% −44.3% 6.7%
Revenue growth, 3-year average — 34.4% 23.2% 9.8% — −41.5% 13.0%
Revenue growth, latest quarter — −25.6% 74.1% 13.1% — −41.2% 12.7%
Gross margin 17.9% 11.7% 26.8% — 31.9% 7.8% 18.5%
Operating margin −37.6% −27.9% 21.5% −78.0% −75.7% −9.7% 0.8%
Operating margin, 3-year average −46.5% −24.7% 20.8% −82.5% — −6.8% −2.7%
Net margin −23.9% −46.4% 13.4% −95.5% −75.2% −11.3% 1.8%
Cash from operations / revenue −17.0% −8.5% 13.5% −16.5% −34.5% −31.1% 1.8%
Free-cash-flow margin −23.6% −9.3% 13.5% −62.2% −35.3% −31.1% 1.5%
Free-cash-flow margin, 3-year average −23.0% — 20.5% −57.0% — −9.0% 2.9%
Stock pay / revenue 0.0% 4.4% 2.1% 0.0% 0.3% 0.5% 0.9%
Change in share count 859.5% — 1.2% 36.6% 495.8% 4.2% 1.6%

Median of all 22 companies we cover in real estate services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

22 real estate services companies
Measure Company Peer median Rank
Revenue growth Growth 4.8% 8.1% 13 of 22
Change in growth rate Growth -12.3pp -0.2pp 16 of 22
Gross margin Profitability 17.9% 21.4% 6 of 10
Operating margin Profitability -37.6% 1.2% 19 of 22
Net margin Profitability -23.9% 1.8% 16 of 21
Free-cash-flow margin Cash generation -23.6% 1.2% 16 of 19
Stock pay as % of revenue Cash generation 0.0% 1.0% 4 of 21
Change in share count Balance sheet 859.5% 1.8% 20 of 20
Days sales outstanding Balance sheet 156 days 22 days 15 of 15

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$126,128
Institutions reporting
9
Shares held vs prior quarter
▲ 597.2%
Positions opened / closed
6 / 1

Top buyers and sellers, Q2 2026: 6 institutions bought and 2 sold ; the biggest buyer was Citadel Advisors LLC (+94K shares) and the biggest seller Xtx Topco Ltd (−6,957). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Citadel Advisors LLC $61,668 94K 48.9% New
HRT Financial LP $21,000 33K 16.6% New
Stifel Financial Corp $13,100 20K 10.4% New
Xtx Topco Ltd $12,444 19K 9.9% ▼ 26.8%
Two Sigma Securities, LLC $9,082 14K 7.2% New
Geode Capital Management, LLC $8,691 13K 6.9% New
Osaic Holdings, Inc. $132 0K 0.1% 0.0%
Morgan Stanley $10 0K 0.0% 0.0%
Caitong International Asset Management Co., Ltd $1 0K 0.0% New

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 Fangdd Network Group Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Fangdd Network Group Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Fangdd Network Group Ltd. in brief

What does Fangdd Network Group Ltd. do?
Fangdd Network Group Ltd. is a US-listed company in the real estate services industry. Its financial year ends in December.
What is Fangdd Network Group Ltd.'s stock ticker?
Fangdd Network Group Ltd. trades under the ticker DUO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Fangdd Network Group Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Fangdd Network Group Ltd. reported revenue of $49.4M, 4.8% higher than a year earlier, according to its SEC filings.
What is Fangdd Network Group Ltd.'s free cash flow?
Fangdd Network Group Ltd.'s free-cash-flow margin is -23.6% of revenue over the trailing twelve months, ranking 16 of the 19 real estate services companies we cover.
Who are Fangdd Network Group Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Citadel Advisors LLC, HRT Financial LP and Stifel Financial Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Who are Fangdd Network Group Ltd.'s competitors?
In our Real Estate Services peer group, the companies closest to Fangdd Network Group Ltd. are La Rosa Holdings Corp., Comstock Holding Companies, Inc., Mackenzie Realty Capital, Inc., Ohmyhome Ltd and Offerpad Solutions Inc. The side-by-side comparison below sets their revenue, margins and growth against Fangdd Network Group Ltd.'s.