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Yatsen Holding Ltd (YSG) stock

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NYSE: YSG NYSE Household Products Next results ~November 17, 2026

B Fundamentals grade

Yatsen Holding Ltd is a US-listed company in the household products industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$19

Revenue-to-maturity cash-flow model

Base case. Range ~$16–$24 across our lower- and higher-growth cases (21.8%–31.8% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Yatsen Holding 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.

  • Funds15 adding, 28 cuttingOf 10 active managers that changed their stake, 2 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Yatsen Holding files

Where Yatsen stands after its latest Filing

Revenue for the twelve months was $598m, up 26.8% on a year earlier, against a decline of 2.3% a quarter earlier. That growth ranks 1 of 12 among the household products companies we cover. Free-cash-flow margin rose to -3.2% from -19.9% a year earlier. Operating margin widened to -4.3% from -27.8%. The diluted share count is down 8.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $19.45 a share, against a share price of $2.25.

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

Next results ~November 17, 2026 (estimated)

Yatsen Holding Ltd's trailing-twelve-month revenue grew 26.8% year on year, with a free-cash-flow margin of -3.2%. Where it stands out: revenue growth of 26.8% ranks 1 of 12 household products companies we cover. Where it lags: operating margin of -4.3% ranks 10 of 10 household products companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 26.8% (+29.1pp vs the prior quarter).

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

  • Fast growth. Revenue grew 26.8% over the last 12 months, against a median of 2.2% for household products companies we cover.
  • Growth speeding up. The growth rate is 29.1 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 20.0 points on a year ago.
  • Shrinking share count. Diluted shares fell 8.0% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Loss-making. Operating margin is -4.3%: costs exceed revenue.
  • Burning cash. Free cash flow was -3.2% of revenue over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 1.4% ranks 10 of 11 household products companies we cover (median 0.8%).

Latest results

Next report
November 17, 2026

Yatsen Holding's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.4%
  • 1 week-22.6%

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)
$598M
Operating margin
-4.3%
Net margin
-1.9%
EPS (TTM, diluted)
$-0.12

Growth

Revenue growth
+26.8%
Change in growth rate
+29.1 pts
Share count change
−8.0%

Cash

Free cash flow (TTM)
-$19M
FCF margin
-3.2%
Stock pay % of revenue
1.4%

News & updates

Updated November 2, 2026

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

No recent updates are available for YSG 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

Yatsen Holding Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Yatsen Holding Ltd as an operating company, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.45 times a 4.5% equity risk premium.

Value per share by model
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. ~$19 ~$16–$24 Left out: out of range vs price (10.87x)
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. ~$6.4 ~$5.3–$20 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. ~$6.4 ~$5.3–$20 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Yatsen Holding Ltd with Household Products 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.

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

Next results: November 17, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Yatsen Holding Ltd: too few analysts cover it.

Analyst recommendations

1 analysts, Nov 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Nov 202611

Counts of recommendations published by analysts covering Yatsen Holding Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.4%
of tradable shares
Days to cover
1.55
at average volume
Short interest, 1 month
−13%
to October 15, 2026
Held by institutions
25%
of shares
Held by insiders
0.0%
of shares
Employees
1,623
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.

Yatsen Holding Ltd in five measures

Fundamentals grade B
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) Yatsen Holding Ltd
$0 $500M $1B FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY18 Q4: $96.3M Revenue (TTM), FY19 Q4: $439M Revenue (TTM), FY20 Q4: $758.5M Revenue (TTM), FY21 Q4: $905.4M Revenue (TTM), FY22 Q4: $551.9M Revenue (TTM), FY23 Q4: $482.6M Revenue (TTM), FY24 Q4: $471.6M Revenue (TTM), FY25 Q4: $598.1M $598.1M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY18 Q4 $96.3M
FY19 Q4 $439M
FY20 Q4 $758.5M
FY21 Q4 $905.4M
FY22 Q4 $551.9M
FY23 Q4 $482.6M
FY24 Q4 $471.6M
FY25 Q4 $598.1M
Revenue growth, TTM YoY Yatsen Holding Ltd
-100% 0% 100% 200% 300% 400% FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY19 Q4: 356.0% Revenue growth, TTM YoY, FY20 Q4: 72.8% Revenue growth, TTM YoY, FY21 Q4: 19.4% Revenue growth, TTM YoY, FY22 Q4: -39.0% Revenue growth, TTM YoY, FY23 Q4: -12.6% Revenue growth, TTM YoY, FY24 Q4: -2.3% Revenue growth, TTM YoY, FY25 Q4: 26.8% 26.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY19 Q4 356.0%
FY20 Q4 72.8%
FY21 Q4 19.4%
FY22 Q4 -39.0%
FY23 Q4 -12.6%
FY24 Q4 -2.3%
FY25 Q4 26.8%
Operating margin (TTM) Yatsen Holding Ltd
-60% -40% -20% 0% 20% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Operating margin (TTM), FY18 Q4: -5.2% Operating margin (TTM), FY19 Q4: 4.7% Operating margin (TTM), FY20 Q4: -51.3% Operating margin (TTM), FY21 Q4: -27.8% Operating margin (TTM), FY22 Q4: -25.1% Operating margin (TTM), FY23 Q4: -26.7% Operating margin (TTM), FY24 Q4: -24.3% Operating margin (TTM), FY25 Q4: -4.3% -4.3%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY18 Q4 -5.2%
FY19 Q4 4.7%
FY20 Q4 -51.3%
FY21 Q4 -27.8%
FY22 Q4 -25.1%
FY23 Q4 -26.7%
FY24 Q4 -24.3%
FY25 Q4 -4.3%
FCF margin (TTM) Yatsen Holding Ltd
-30% -20% -10% 0% 10% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY18 Q4: -15.7% FCF margin (TTM), FY19 Q4: -3.7% FCF margin (TTM), FY20 Q4: -23.1% FCF margin (TTM), FY21 Q4: -19.9% FCF margin (TTM), FY22 Q4: 2.3% FCF margin (TTM), FY23 Q4: -4.4% FCF margin (TTM), FY24 Q4: -8.7% FCF margin (TTM), FY25 Q4: -3.2% -3.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY18 Q4 -15.7%
FY19 Q4 -3.7%
FY20 Q4 -23.1%
FY21 Q4 -19.9%
FY22 Q4 2.3%
FY23 Q4 -4.4%
FY24 Q4 -8.7%
FY25 Q4 -3.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. 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 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 96 439 759 905 552 483 472 598
Gross profit 61 279 488 604 375 355 364 468
EBITDA −5 23 −378 −232 −121 −121 −109 −21
Operating income −5 21 −389 −252 −138 −129 −115 −26
Net income −6 11 −390 −239 −121 −106 −98 −11
Diluted EPS — — — −$1.89 −$1.01 −$0.96 −$0.97 −$0.11
Growth (year on year)
Revenue — +356.0% +72.8% +19.4% −39.0% −12.6% −2.3% +26.8%
EBITDA — — <−999% — — — — —
Operating income — — <−999% — — — — —
Net income — — <−999% — — — — —
Margins
Gross margin 63.5% 63.6% 64.3% 66.8% 68.0% 73.6% 77.1% 78.2%
EBITDA margin −5.2% 5.2% −49.8% −25.6% −22.0% −25.2% −23.2% −3.5%
Operating margin −5.2% 4.7% −51.3% −27.8% −25.1% −26.7% −24.3% −4.3%
Net margin −6.3% 2.5% −51.4% −26.4% −22.0% −21.9% −20.9% −1.9%
Free-cash-flow margin −15.7% −3.7% −23.1% −19.9% 2.3% −4.4% −8.7% −3.2%
Cash flow
Cash from operations −15 −1 −143 −158 20 −15 −34 −13
Capital spending 1 15 33 22 8 6 7 6
Free cash flow −15 −16 −175 −180 13 −21 −41 −19
Stock-based pay 2 11 275 82 51 11 13 8
Free cash flow after stock pay −17 −27 −451 −262 −38 −32 −54 −27
Balance sheet
Cash — 97 878 492 219 118 112 109
Total debt — 0 0 0 0 0 0 0
Net debt (negative = net cash) — −97 −878 −492 −219 −118 −112 −109
Diluted shares 41m 68m 125m 126m 119m 110m 101m 93m
Returned to shareholders
Buybacks — 7 71 2 97 30 56 15
Total returned — 7 71 2 97 30 56 15

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 · $550m
Short-term assets $319mLonger-term assets $231m
What it owes, and who funded it · $552m
Short-term liabilities $88mLonger-term liabilities $33mShareholders' equity $431m
  • Short-term assets cover short-term liabilities $319m of assets due within a year against $88m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $319m short-term assets against $33m 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 Yatsen Holding 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

FY2025 Q4 TTM
Buybacks (TTM)
$15.4M
Returned to shareholders
-81%
of free cash flow
Buybacks, last 3 fiscal years
$102M
Diluted share count
−8.0%
year over year
Total shareholder yield
9.3%
dividends 0.0% + buybacks 9.3% of market value
R&D spending
3.2%
of revenue
Days sales outstanding
19 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in household products
Last 12 months unless stated YSG WDFC GROV SPB ENR CENT Median
Revenue, last 12 months $598m $688m $159m $2.9bn $3.0bn $3.1bn $3.0bn
Revenue growth, last 12 months 26.8% 11.0% −14.3% 0.8% 2.2% −1.2% 1.9%
Revenue growth, 3-year average — 8.6% −18.1% −0.6% 0.6% −1.9% −0.6%
Revenue growth, latest quarter — 8.1% −16.9% 7.7% 1.2% −8.2% 1.0%
Gross margin 78.2% 55.3% 53.6% 39.6% 36.8% 32.5% 42.9%
Operating margin −4.3% 15.8% −3.8% 4.0% — 8.1% 11.5%
Operating margin, 3-year average — 16.3% −8.1% 4.6% — 7.4% 15.9%
Net margin −1.9% 12.0% −4.1% 2.8% 2.7% 5.4% 7.2%
Cash from operations / revenue −2.2% 15.3% −0.3% 11.6% 7.3% 12.7% 13.0%
Free-cash-flow margin −3.2% 14.2% −0.7% 10.2% 5.0% 11.2% 10.6%
Free-cash-flow margin, 3-year average — 14.2% −3.7% −1.2% 6.6% 10.1% 11.4%
Stock pay / revenue 1.4% 1.1% 2.2% 0.8% 0.9% 0.5% 0.8%
Change in share count −8.0% −0.5% 5.0% −12.5% −5.6% −4.5% −1.5%

Median of all 12 companies we cover in household products. 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

12 household products companies
Measure Company Peer median Rank
Revenue growth Growth 26.8% 2.2% 1 of 12
Change in growth rate Growth +29.1pp -0.1pp 1 of 12
Gross margin Profitability 78.2% 46.1% 1 of 12
Operating margin Profitability -4.3% 14.8% 10 of 10
Net margin Profitability -1.9% 9.1% 10 of 12
Free-cash-flow margin Cash generation -3.2% 11.0% 11 of 12
Stock pay as % of revenue Cash generation 1.4% 0.8% 10 of 11
Change in share count Balance sheet -8.0% -1.4% 2 of 12
Days sales outstanding Balance sheet 19 days 45 days 1 of 11

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

Who owns it

Funds buying and selling
Reported value
$40.3M
Institutions reporting
43
Shares held vs prior quarter
▼ 11.7%
Positions opened / closed
7 / 10

Top buyers and sellers, Q2 2026: 15 institutions bought and 28 sold ; the biggest buyer was Yiheng Capital Management, L.P (+148K shares) and the biggest seller Morgan Stanley (−495K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Hhlr Advisors, Ltd. $15.5M 4.9M 38.4% 0.0%
Morgan Stanley $8.8M 2.8M 21.8% ▼ 15.2%
Bank Of America Corp $4.9M 1.5M 12.2% ▼ 4.9%
Yiheng Capital Management, L.P. $3M 946K 7.4% ▲ 18.6%
Renaissance Technologies LLC $1.7M 541K 4.3% ▼ 11.7%
Perseverance Asset Management International $1.7M 530K 4.2% 0.0%
Goldman Sachs Group Inc $1.3M 404K 3.2% ▼ 7.6%
Helios Capital Management Pte. Ltd $634,000 200K 1.6% 0.0%
Citigroup Inc $373,632 118K 0.9% ▼ 21.0%
State Street Corp $328,948 104K 0.8% ▼ 2.9%
Xtx Topco Ltd $300,662 95K 0.7% ▲ 140.1%
HSBC Holdings PLC $243,586 77K 0.6% ▼ 12.8%

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 Yatsen Holding 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 Yatsen Holding 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.

Yatsen Holding Ltd in brief

What does Yatsen Holding Ltd do?
Yatsen Holding Ltd is a US-listed company in the household products industry. Its financial year ends in December.
What is Yatsen Holding Ltd's stock ticker?
Yatsen Holding Ltd trades under the ticker YSG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Yatsen Holding Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Yatsen Holding Ltd reported revenue of $598M, 26.8% higher than a year earlier, according to its SEC filings.
What is Yatsen Holding Ltd's free cash flow?
Yatsen Holding Ltd's free-cash-flow margin is -3.2% of revenue over the trailing twelve months, ranking 11 of the 12 household products companies we cover.
Who are Yatsen Holding Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Hhlr Advisors, Ltd., Morgan Stanley and Bank Of America Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Yatsen Holding Ltd buying back stock, and does it pay a dividend?
Yatsen Holding Ltd spent $15.4M on share repurchases over the trailing twelve months, and its diluted share count fell 8.0% over the year.
Who are Yatsen Holding Ltd's competitors?
In our Household Products peer group, the companies closest to Yatsen Holding Ltd are WD 40 Co, Grove Collaborative Holdings, Inc., Spectrum Brands Holdings, Inc., Energizer Holdings, Inc. and Central Garden & PET Co. The side-by-side comparison below sets their revenue, margins and growth against Yatsen Holding Ltd's.
When is Yatsen Holding Ltd's next earnings date?
Around November 17, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Yatsen Holding Ltd announces its own schedule.