Phoenix New Media Ltd balance sheet

At the end of fiscal 2025, Phoenix New Media Ltd had total assets of $236m, total liabilities of $77.4m and shareholders' equity of $167m. It held $76.9m in cash against $0 of debt: net cash of $76.9m.

Balance sheet

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

Phoenix New Media Ltd: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	33	44	63	147	140	207	48	29	56	23	45	55	30	14	74	83	77
Receivables	—	12	32	45	58	80	78	58	71	70	88	104	72	62	41	45	42
Total current assets	—	61	239	250	321	332	298	298	345	294	367	371	326	241	208	202	203
Goodwill	—	—	—	—	—	—	—	—	—	49	3	—	—	—	—	—	—
Total assets	—	68	249	270	340	375	396	456	553	674	765	425	378	294	248	235	236
Accounts payable	—	8	19	25	36	44	45	38	40	39	36	34	34	26	17	20	18
Deferred revenue (current)	—	—	—	—	—	—	—	—	10	8	7	6	5	5	5	4	4
Total current liabilities	—	23	40	49	78	95	115	142	165	156	216	163	152	96	74	74	71
Total debt	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total liabilities	—	23	41	51	80	98	118	145	169	180	256	170	160	111	84	82	77
Shareholders' equity	2	−14	208	219	260	277	279	312	385	448	479	251	224	191	173	161	167
Non-controlling interests and other (assets − liabilities − equity)	—	59	—	—	—	—	—	—	—	45	31	—	—	−8	−9	−8	−9
Net debt (negative = net cash)	−33	−44	−63	−147	−140	−207	−48	−29	−56	−23	−45	−55	−30	−14	−74	−83	−77

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Phoenix New Media Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Phoenix New Media Ltd.