The9 (NCTY) Debt to Equity (2013 - 2025)
The9 (NCTY) posted quarterly Debt to Equity of $1.03 for Q4 2025, up 290.46% year-over-year from $0.26 in Q4 2024, and up 184.7% on a QoQ basis from $0.36 in Q2 2025.
The9 (NCTY) Debt to Equity (2013 - 2025) Analysis & Trends
The9 (NCTY) has reported Debt to Equity for 13 consecutive years, with $1.03 the latest figure, recorded in 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 232.79% from the prior year.
- Debt to Equity came in at $1.03 for Q4 2025 at The9, up from $0.36 in the prior quarter.
- The five-year high for Debt to Equity was $1.19 in Q4 2022, with the low at -$0.01 in Q2 2023.
- Average Debt to Equity over 5 years is $0.4, with a median of $0.27 recorded in 2024.
- Across the five-year window, Debt to Equity surged 2289.61% in 2022 and plunged 92.21% in 2023, its largest moves.
- Year by year, Debt to Equity stood at $0.05 in 2021, then soared by 2289.61% to $1.19 in 2022, then slumped 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.
- According to Business Quant data, Debt to Equity over the past three periods registered $1.03, $0.36, and $0.26 for Q4 2025, Q2 2025, and Q4 2024 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 1.04 |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 2.11 |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | - |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | 0.00 |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | - |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | - |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | - |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | - |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | - |
| 10 | The9 | 11.51 Bn | 11.51 Bn | - | 1.03 |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 1.03 |
| Jun 30, 2025 | 0.36 |
| Dec 31, 2024 | 0.26 |
| Jun 30, 2024 | 0.07 |
| Dec 31, 2023 | 0.09 |
| Jun 30, 2023 | -0.01 |
| 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 |
| Dec 31, 2016 | -0.20 |
| Dec 31, 2015 | -0.40 |
| Dec 31, 2013 | 0.05 |