The9 (NCTY) Debt to Equity (2013 - 2025)
The9 (NCTY) recorded quarterly Debt to Equity of $1.03 in Q4 2025, up 290.46% quarter-over-quarter from $0.26 in Q4 2024, and up 290.46% on a YoY basis from $0.26 in Q4 2024.
The9 (NCTY) Debt to Equity (2013 - 2025) Analysis & Trends
The9's Debt to Equity history runs 13 years deep, the most recent figure standing at $1.03 for Q4 2025.
- In Q4 2025, Debt to Equity rose 290.46% year-over-year to $1.03; the TTM figure through Dec 2025 stood at $1.03 (up 290.46% YoY), while the FY2025 annual figure was $0.89, up 238.06% from the prior year.
- Debt to Equity was $1.03 for Q4 2025 at The9, up from $0.26 in the prior quarter.
- In the past five years, Debt to Equity ranged from a high of $1.19 in Q4 2022 to a low of $0.05 in Q4 2021.
- Historically, Debt to Equity has averaged $0.52 across 5 years, with a median of $0.26 in 2024.
- The sharpest annual moves came in 2022 and 2023: Debt to Equity surged 2289.61% in 2022, then tumbled 92.21% in 2023.
- A 5-year view of Debt to Equity shows it stood at $0.05 in 2021, then soared by 2289.61% to $1.19 in 2022, then sank by 92.21% to $0.09 in 2023, then jumped by 184.91% to $0.26 in 2024, then jumped by 290.46% to $1.03 in 2025.
- The last three Debt to Equity figures came in at $1.03 (Q4 2025), $0.26 (Q4 2024), and $0.09 (Q4 2023), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 94,425.84 Bn | 94,425.84 Bn | - | 0.00 |
| 2 | Morgan Stanley | 349.82 Bn | 216.29 Bn | - | 1.04 |
| 3 | Goldman Sachs | 333.85 Bn | -603.70 Bn | - | 2.11 |
| 4 | Schwab Charles | 160.31 Bn | 115.33 Bn | - | - |
| 5 | Robinhood Markets | 97.28 Bn | 92.64 Bn | 960.00 Mn | - |
| 6 | Interactive Brokers | 42.79 Bn | 53.38 Bn | - | - |
| 7 | LPL Financial Holdings | 23.54 Bn | 22.51 Bn | - | - |
| 8 | Tradeweb Markets | 21.20 Bn | 19.96 Bn | - | - |
| 9 | Iren | 19.97 Bn | 17.75 Bn | 144.76 Mn | - |
| 10 | The9 | 1.59 Bn | 1.60 Bn | - | 1.03 |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 1.03 |
| Dec 31, 2024 | 0.26 |
| Dec 31, 2023 | 0.09 |
| Dec 31, 2022 | 1.19 |
| Dec 31, 2021 | 0.05 |
| Dec 31, 2020 | -0.05 |
| Dec 31, 2019 | 0.00 |
| Dec 31, 2018 | -0.05 |
| Dec 31, 2017 | -0.14 |
| Jun 30, 2017 | -0.14 |
| Dec 31, 2016 | -0.20 |
| Jun 30, 2016 | -0.12 |
| Dec 31, 2015 | -0.40 |
| Dec 31, 2014 | 0.19 |
| Dec 31, 2013 | 0.05 |