Jiayin Group Inc. (NASDAQ: JFIN)

Sector: Communication Services Industry: Internet Content & Information CIK: 0001743102
Market Cap 362.27 Mn
P/B 0.60
P/E 1.51
P/S 0.39
ROIC (Qtr) 292.80
Div Yield % 11.64
Rev 1y % (Qtr) 1.75
Total Debt (Qtr) 5.05 Mn
Debt/Equity (Qtr) 0.01

About

Jiayin Group Inc., also known as JFIN, is a fintech company operating in China, providing online consumer finance services to underserved individual borrowers. The company's main business activities involve facilitating consumer loans to creditworthy individuals who may not have access to traditional financial institutions. Jiayin Group's platform offers a range of services including loan facilitation, credit assessment, and risk management. The company generates revenue primarily through its loan facilitation services, which are unsecured consumer...

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Price action

Investment thesis

Bull case

  • Strong tangible asset base of 1.11B provides 220.01x coverage of total debt 5.05M, indicating robust asset backing and low credit risk.
  • Tangible assets of 1.11B provide exceptional 17.62x coverage of deferred revenue 63.04M, showing strong service capability backing.
  • R&D investment of 56.97M represents healthy 0.90x of deferred revenue 63.04M, indicating strong future innovation pipeline.

Bear case

  • Investment activities of 0 provide weak support for R&D spending of 56.97M, which is 0x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of 0 provides insufficient coverage of deferred revenue obligations of 63.04M, which is 0x, raising concerns about future service delivery capabilities.
  • Tax assets of 11.43M provide limited offset against tax liabilities of 147.08M, which is 0.08x, indicating potential future cash flow pressure from tax obligations.
  • R&D investment of 56.97M represents just 0.15x of SG&A expenses of 384.25M, indicating potential underinvestment in innovation relative to administrative overhead.
  • Operating cash flow of 0 provides minimal 0x coverage of tax expenses of 58.63M, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Product and Service Breakdown of Revenue (2024)

Product and Service Breakdown of Revenue (2024)

Peer comparison

Companies in the Internet Content & Information
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 GOOGL Alphabet Inc. 4,538.16 Bn 131.46 27.23 33.71 Bn
2 META Meta Platforms, Inc. 1,747.49 Bn 74.30 23.25 51.06 Bn
3 SPOT Spotify Technology S.A. 103.00 Bn 62.32 5.18 2.57 Bn
4 BIDU Baidu, Inc. 62.73 Bn 49.63 3.42 13.66 Bn
5 RDDT Reddit, Inc. 32.18 Bn 92.16 16.90 0.03 Bn
6 NBIS Nebius Group N.V. 27.81 Bn 127.53 81.80 4.51 Bn
7 TME Tencent Music Entertainment Group 24.66 Bn 15.77 5.54 0.54 Bn
8 PINS Pinterest, Inc. 16.95 Bn 8.53 4.18 0.21 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets -0.10 1.10
EV to Cash from Ops. EV/CFO -0.59 -3.08
EV to Debt EV to Debt -22.67 28.98
EV to EBIT EV/EBIT -0.38 -26.54
EV to EBITDA EV/EBITDA -0.65 9.30
EV to Free Cash Flow [EV/FCF] EV/FCF -1.22 -67.01
EV to Market Cap EV to Market Cap -0.32 0.90
EV to Revenue EV/Rev -0.12 61.25
Price to Book Value [P/B] P/B 0.60 1.56
Price to Earnings [P/E] P/E 1.51 2.92
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.33
Dividend Payout Ratio % Div Payout % (Qtr) 17.60 -8.92
Dividend per Basic Share Div per Share (Qtr) 0.80 0.31
FCF Dividend Payout Ratio % FCF Dividend Payout Ratio % 0.00 2.58
Interest Coverage Int. cover (Qtr) 0.00 -202.56
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 -24.06
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -35.81 175.36
Dividend Growth (1y) % Div 1y % (Qtr) -11.11 0.94
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 48.92 31.53
EBITDA Growth (1y) % EBITDA Growth (1y) % 0.00 -472.14
EBIT Growth (1y) % EBIT 1y % (Qtr) 55.35 32.66
EBT Growth (1y) % EBT 1y % (Qtr) 55.35 -25.80
EPS Growth (1y) % EPS 1y % (Qtr) 50.19 -18.36
FCF Growth (1y) % FCF Growth (1y) % 0.00 20.83
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 52.63 19.58
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.12 0.74
Cash Payout Ratio Cash Payout Ratio 0.00 0.02
Cash Ratio Cash Ratio 0.00 1.54
Current Ratio Current Ratio 0.00 3.38
Debt to Equity Ratio Debt/Equity (Qtr) 0.01 -0.39
Interest Cover Ratio Int Coverage (Qtr) 0.00 -202.56
Times Interest Earned Times Interest Earned (Qtr) 0.00 -202.56
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 -4,283.87
EBIT Margin % EBIT Margin % (Qtr) 231.81 -4,786.62
EBT Margin % EBT Margin % (Qtr) 32.56 -5,002.12
Gross Margin % Gross Margin % (Qtr) 80.90 58.65
Net Profit Margin % Net Margin % (Qtr) 26.20 -5,003.08