Yatsen Holding (YSG) Research & Development (2019 - 2025)
Yatsen Holding (YSG) posted quarterly Research & Development of -$127.8 million for Q4 2025, down 35.09% year-over-year from -$196.9 million in Q4 2024, and down 33.35% quarter-over-quarter from -$95.8 million in Q3 2025.
Yatsen Holding (YSG) Research & Development (2019 - 2025) Analysis & Trends
Yatsen Holding's Research & Development history runs 7 years deep, the most recent figure standing at -$127.8 million for Q4 2025.
- In Q4 2025, Research & Development fell 35.09% year-over-year to -$127.8 million; the TTM figure through Dec 2025 stood at -$400.8 million (down 27.37% YoY), while the FY2025 annual figure was $407.9 million, up 2624.23% from the prior year.
- Research & Development for Q4 2025 stood at -$127.8 million, down from -$95.8 million in the prior quarter.
- The five-year high for Research & Development was -$66.8 million in Q1 2023, with the low at -$169.4 million in Q4 2021.
- The 5-year median for Research & Development is -$94.0 million (2022), against an average of -$99.7 million.
- The sharpest annual moves came in 2021 and 2022: Research & Development slumped 99.32% in 2021, then surged 54.2% in 2022.
- Yatsen Holding's Research & Development stood at -$169.4 million in 2021, then surged by 54.2% to -$77.6 million in 2022, then plunged by 30.21% to -$101.0 million in 2023, then grew by 6.37% to -$94.6 million in 2024, then plunged by 35.09% to -$127.8 million in 2025.
- Business Quant data shows YSG's Research & Development at -$127.8 million in Q4 2025, -$95.8 million in Q3 2025, and -$100.8 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Procter & Gamble | 334.68 Bn | 324.73 Bn | 10.28 Bn | - |
| 2 | Unilever | 135.06 Bn | 122.54 Bn | - | - |
| 3 | Colgate Palmolive | 73.11 Bn | 71.74 Bn | 3.30 Bn | - |
| 4 | Kenvue | 36.14 Bn | 35.03 Bn | 2.30 Bn | - |
| 5 | Kimberly Clark | 35.84 Bn | 34.89 Bn | 1.60 Bn | - |
| 6 | Estee Lauder Companies | 30.63 Bn | 27.51 Bn | 2.84 Bn | - |
| 7 | Church & Dwight | 23.49 Bn | 23.23 Bn | 693.90 Mn | - |
| 8 | Clorox | 12.90 Bn | 12.75 Bn | 804.00 Mn | 32.00 Mn |
| 9 | Yatsen Holding | 5.79 Bn | 5.65 Bn | 153.20 Mn | -127.81 Mn |
| 10 | e.l.f. Beauty | 5.48 Bn | 5.13 Bn | 398.84 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -127.81 Mn |
| Sep 30, 2025 | -95.84 Mn |
| Jun 30, 2025 | -100.84 Mn |
| Mar 31, 2025 | -76.32 Mn |
| Dec 31, 2024 | -94.61 Mn |
| Sep 30, 2024 | -70.45 Mn |
| Jun 30, 2024 | -74.95 Mn |
| Mar 31, 2024 | -74.68 Mn |
| Dec 31, 2023 | -101.05 Mn |
| Sep 30, 2023 | -70.14 Mn |
| Jun 30, 2023 | -74.85 Mn |
| Mar 31, 2023 | -66.84 Mn |
| Dec 31, 2022 | -77.60 Mn |
| Sep 30, 2022 | -79.40 Mn |
| Jun 30, 2022 | -93.41 Mn |
| Mar 31, 2022 | -95.39 Mn |
| Dec 31, 2021 | -169.43 Mn |
| Sep 30, 2021 | -141.43 Mn |
| Jun 30, 2021 | -150.62 Mn |
| Mar 31, 2021 | -159.05 Mn |