SY
So-Young International Inc. (SY) 10Y Growth Potential Analysis (2026)
Growth
0TTM revenue growth is not provided, but profitability remains negative with net profit margin at -15.5% and operating margin at -16.9%.
Free cash flow is negative at -$332.0M TTM, indicating the business is not yet self-funding growth.
Profitability
0TTM return on equity is -15.9% and return on invested capital is -14.0%, showing value destruction rather than compounding.
EBITDA margin is -12.3% and gross margin is 46.0%, but overhead and operating losses still drive negative bottom-line results.
Financial Health
0Liquidity is acceptable with a current ratio of 1.73 and quick ratio of 1.42.
Balance sheet leverage is moderate with debt-to-equity at 0.25 and net debt to EBITDA at 0.44, but solvency remains weak given negative EBITDA and cash flow.
Valuation
0Traditional earnings and cash-flow multiples are not meaningful because TTM earnings and free cash flow are negative.
Price-to-sales is 1.28x and price-to-book is 1.42x, which is not expensive on a sales/book basis but is not compelling given negative profitability.
Future Outlook
No recent news or guidance updates were provided to improve the long-term outlook.
The company would need sustained margin improvement and positive free cash flow to support a durable 10-year growth case.
Sources
- Company filings (10-K, 10-Q, investor presentations)
- Financial and market data providers
- Public news and industry information
🔒 Go Beyond This Framework
This is one of 10 institutional-grade frameworks Invetso runs on So-Young International Inc.. Unlock the complete analysis — SWOT, Economic Moat, Porter’s Five Forces, Management, PESTLE and the Invetso Quality Score.