Growth Metrics

The9 (NCTY) Debt Ratio (2013 - 2025)

The9's quarterly Debt Ratio came in at 0.29 in Q4 2025, up 109.97% year-on-year from 0.14 in Q4 2024, and up 47.0% quarter-over-quarter from 0.2 in Q2 2025.

The9 has reported Debt Ratio for 13 years, with the latest figure at 0.29 in Q4 2025.

  • For the quarter ending Q4 2025, Debt Ratio rose 109.97% year-over-year to 0.29; the trailing twelve-month figure through Dec 2025 stood at 0.29 (up 109.97% YoY), and the FY2025 full-year result was 0.29, up 101.14% from the prior year.
  • Debt Ratio for Q4 2025 stood at 0.29, up from 0.2 in the prior quarter.
  • The five-year high for Debt Ratio was 0.29 in Q4 2025, with the low at 0.03 in Q4 2021.
  • Average Debt Ratio over 5 years is 0.13, with a median of 0.14 recorded in 2024.
  • Year-over-year, Debt Ratio slumped 95.37% in 2021 and surged 203.98% in 2024.
  • Tracing NCTY's Debt Ratio over 5 years: stood at 0.03 in 2021, then soared by 88.52% to 0.05 in 2022, then dropped by 15.54% to 0.05 in 2023, then surged by 203.98% to 0.14 in 2024, then soared by 109.97% to 0.29 in 2025.
  • The last three Debt Ratio figures came in at 0.29 (Q4 2025), 0.2 (Q2 2025), and 0.14 (Q4 2024), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Morgan Stanley 330.71 Bn 197.18 Bn - 0.08
2 Goldman Sachs 318.59 Bn -618.96 Bn - 0.13
3 Schwab Charles 154.74 Bn 109.76 Bn - -
4 Robinhood Markets 81.79 Bn 77.15 Bn 960.00 Mn -
5 Interactive Brokers 39.54 Bn 50.13 Bn - -
6 Circle Internet 25.60 Bn 24.08 Bn 35.01 Mn -
7 LPL Financial Holdings 22.12 Bn 21.10 Bn - -
8 Iren 21.58 Bn 19.37 Bn 144.76 Mn -
9 Tradeweb Markets 21.29 Bn 20.04 Bn - -
10 The9 1.57 Bn 1.57 Bn - 0.29

Historic Data

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DateValue
Dec 31, 2025 0.29
Jun 30, 2025 0.20
Dec 31, 2024 0.14
Jun 30, 2024 0.14
Dec 31, 2023 0.05
Dec 31, 2022 0.05
Dec 31, 2021 0.03
Dec 31, 2020 0.62
Dec 31, 2019 0.00
Dec 31, 2018 0.36
Dec 31, 2017 0.34
Jun 30, 2017 0.39
Dec 31, 2016 0.41
Jun 30, 2016 0.15
Dec 31, 2015 0.18
Dec 31, 2014 0.02
Dec 31, 2013 0.02