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Waterdrop Inc. logo

Waterdrop Inc.

WDH

NYSEFinancial ServicesInsurance - Brokers

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Previous close

$1.00

$0.00 · 0.00%

Aug 21, 4:00 PM ET

WDH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

78

Undervalued

Momentum

18

Strong Down

Sentiment

54

Mixed

Risk resilience

42

Elevated Risk

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Company profile

Company website

Waterdrop Inc., through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China. The company offers short-term and long-term health and life insurance products and services. It also operates a medical crowdfunding platform; and E-Find, a clinical trial patient recruitment platform for pharmaceutical companies to find matches for clinical trials. In addition, the company provides technical services to insurance brokerage or agency companies through customer relationship management system. Waterdrop Inc. was founded in 2016 and is headquartered in Beijing, the People’s Republic of China.

Industry
Insurance - Brokers
Sector
Financial Services
Headquarters
CN
CEO
Peng Shen
Listed since
May 7, 2021
Employees
3,018

Market position

Day range

Current $1.00

52-week range

Current $1.00

Open
$1.00
Previous close
$1.00
Volume
97.87K
0.52× average
Average volume
186.64K
Average daily volume
Market cap
361.72M USD
Beta
-0.06
Market reference 1
50-day average
$1.1388
-12.19% below average
200-day average
$1.5635
-36.04% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
-581.27M CNY
P/E (TTM)
0.85×
P/B (TTM)
0.05×
P/S (TTM)
0.55×
EV / EBITDA
-1.55×
Earnings yield
115.22%
Free cash flow yield
44.61%
Dividend yield
6.00%

Profitability & efficiency

Gross margin
53.97%
Operating margin
8.41%
Net margin
12.53%
Return on equity
10.74%
Return on assets
7.79%
Return on invested capital
6.85%

Financial health

Debt / equity
0.06×
Current ratio
2.1×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends69%23%-23%-70%Gross margin, FY2021: 57.89%Gross margin, FY2022: 52.31%Gross margin, FY2023: 39.71%Gross margin, FY2024: 52.57%Gross margin, FY2025: 51.15%Operating margin, FY2021: -58.11%Operating margin, FY2022: 17.06%Operating margin, FY2023: -0.26%Operating margin, FY2024: 6.43%Operating margin, FY2025: 9.32%Net margin, FY2021: -49.10%Net margin, FY2022: 21.69%Net margin, FY2023: 6.36%Net margin, FY2024: 13.26%Net margin, FY2025: 14.30%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 57.89%. Gross margin FY2022 52.31%. Gross margin FY2023 39.71%. Gross margin FY2024 52.57%. Gross margin FY2025 51.15%. Operating margin FY2021 -58.11%. Operating margin FY2022 17.06%. Operating margin FY2023 -0.26%. Operating margin FY2024 6.43%. Operating margin FY2025 9.32%. Net margin FY2021 -49.10%. Net margin FY2022 21.69%. Net margin FY2023 6.36%. Net margin FY2024 13.26%. Net margin FY2025 14.30%.

Income trends

Revenue

3.87B CNY+39.60%

Operating income

360.75M CNY+102.49%

Net income

553.44M CNY+50.59%
Income trends across reported periods4.44B CNY2.15B CNY−143.17M CNY−2.44B CNYRevenue, FY2021: 3.21B CNYRevenue, FY2022: 2.8B CNYRevenue, FY2023: 2.63B CNYRevenue, FY2024: 2.77B CNYRevenue, FY2025: 3.87B CNYOperating income, FY2021: −1.86B CNYOperating income, FY2022: 477.99M CNYOperating income, FY2023: −6.74M CNYOperating income, FY2024: 178.16M CNYOperating income, FY2025: 360.75M CNYNet income, FY2021: −1.57B CNYNet income, FY2022: 607.72M CNYNet income, FY2023: 167.22M CNYNet income, FY2024: 367.51M CNYNet income, FY2025: 553.44M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 3.21B CNY. Revenue FY2022 2.8B CNY. Revenue FY2023 2.63B CNY. Revenue FY2024 2.77B CNY. Revenue FY2025 3.87B CNY. Operating income FY2021 −1.86B CNY. Operating income FY2022 477.99M CNY. Operating income FY2023 −6.74M CNY. Operating income FY2024 178.16M CNY. Operating income FY2025 360.75M CNY. Net income FY2021 −1.57B CNY. Net income FY2022 607.72M CNY. Net income FY2023 167.22M CNY. Net income FY2024 367.51M CNY. Net income FY2025 553.44M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue3.87B CNY2.77B CNY2.63B CNY2.8B CNY3.21B CNY
Cost of goods sold1.89B CNY1.31B CNY1.59B CNY1.34B CNY1.35B CNY
Gross profit1.98B CNY1.46B CNY1.04B CNY1.47B CNY1.86B CNY
Research and development226.34M CNY216.5M CNY299.06M CNY291.29M CNY378.99M CNY
Selling, general, and administrative1.39B CNY1.06B CNY752.31M CNY696.33M CNY3.34B CNY
Operating expenses1.62B CNY1.28B CNY1.05B CNY987.62M CNY3.72B CNY
Interest income132M CNY149.12M CNY136.04M CNY81.71M CNY48.66M CNY
Depreciation and amortization13.91M CNY13.56M CNY13.56M CNY22.98M CNY18.09M CNY
Operating income360.75M CNY178.16M CNY−6.74M CNY477.99M CNY−1.86B CNY
Net income553.44M CNY367.51M CNY167.22M CNY607.72M CNY−1.57B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
44%
4 beats, 5 misses, 0 met estimates
Average EPS surprise
-18.95%
9 comparable reports
Latest EPS result
0.04

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.10.070.030Q3 '24MissQ4 '24BeatQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26No estimate
Q3 2024, reported Sep 4, 2024: actual 0.003, estimate 0.028, surprise -90.00%, Miss. Q4 2024, reported Dec 11, 2024: actual 0.06, estimate 0.03, surprise +100.00%, Beat. Q1 2025, reported Mar 12, 2025: actual 0.004, estimate 0.027, surprise -84.99%, Miss. Q2 2025, reported Jun 5, 2025: actual 0.003, estimate 0.039, surprise -92.84%, Miss. Q3 2025, reported Sep 4, 2025: actual 0.054, estimate 0.035, surprise +55.89%, Beat. Q4 2025, reported Dec 3, 2025: actual 0.06, estimate 0.038, surprise +58.23%, Beat. Q1 2026, reported Mar 25, 2026: actual 0.06, estimate 0.039, surprise +55.44%, Beat. Q2 2026, reported Jun 16, 2026: actual 0.04, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates780.94M547.17M313.4M79.63MQ4 '24BeatQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Dec 11, 2024: actual 730.04M USD, estimate 684.05M USD, surprise +6.72%, Beat. Q1 2025, reported Mar 12, 2025: actual 94.07M USD, estimate 93.69M USD, surprise +0.41%, Beat. Q2 2025, reported Jun 5, 2025: actual 97.08M USD, estimate 104.85M USD, surprise -7.41%, Miss. Q3 2025, reported Sep 4, 2025: actual 116.94M USD, estimate 111.34M USD, surprise +5.03%, Beat. Q4 2025, reported Dec 3, 2025: actual 135.88M USD, estimate 120.64M USD, surprise +12.64%, Beat. Q1 2026, reported Mar 25, 2026: actual 201.75M USD, estimate 117.69M USD, surprise +71.42%, Beat. Q2 2026, reported Jun 16, 2026: actual 180.04M USD, estimate 179.41M USD, surprise +0.35%, Beat. Q3 2026, reported Sep 9, 2026: actual —, estimate 184.81M USD, surprise —, Comparison unavailable.

WDH peers

Berkshire Hathaway Inc. logo

BRK-B

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BRK-A

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$743,500

-0.15%

JPMorgan Chase & Co. logo

JPM

JPMorgan Chase & Co.

$351.58

+0.01%

Visa Inc. logo

V

Visa Inc.

$371.04

+1.45%

Mastercard Incorporated logo

MA

Mastercard Incorporated

$580.63

+1.18%

Bank of America Corporation logo

BAC

Bank of America Corporation

$61.69

-0.27%

ETFs holding WDH

Funds reporting this stock among their holdings, ordered by reported position size.

Invesco Golden Dragon China ETF logoInvesco Golden Dragon China ETFPGJ
Market value
94.93K
Weight
0.10%
AUM
92.77M USD
Expense ratio
0.70%
Price / 1D
$24.32+0.25%
State Street SPDR S&P Emerging Markets Small Cap ETF logoState Street SPDR S&P Emerging Markets Small Cap ETFEWX
Market value
65.45K
Weight
0.01%
AUM
685.65M USD
Expense ratio
0.65%
Price / 1D
$72.22+0.25%

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