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AutoHome (ATHM)
NYSE:ATHM
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AutoHome
(NYSE:ATHM)
Rating:77Outperform
Price Target:
$32.00
▲(12.72% Upside)
Positive Factors
Retail Expansion
Autohome aims to have over 500 stores by end of this year, and 1000 stores over the next three years.
Shareholder Return
Autohome reiterated its existing shareholder return plan, which translates to a greater than 10% total shareholder return yield.
Stock Buyback
The company repurchased shares worth US$81.8 million, indicating confidence in its stock value and commitment to returning value to shareholders.
Negative Factors
Dealership Financial Strain
Continued pressure from weak dealership financials is anticipated, leading to a downward revision in lead generation revenue forecast.
OEM Advertising Pressure
Increased promotional activity has weighed on OEMs' profitability, leading to reduced advertising budgets, especially for media brand spending.
Revenue Decline
Total revenue declined by 7% year-over-year, which may indicate challenges in maintaining growth.
AutoHome (ATHM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.57B
Dividend Yield6.06%
Average Volume (3M)265.01K
Price to Earnings (P/E)16.7
Beta (1Y)0.54
Revenue Growth-7.06%
EPS Growth-20.71%
CountryUS
Employees4,345
SectorCommunication Services
Sector Strength92
IndustryInternet Content & Information
Share Statistics
EPS (TTM)0.47
Shares Outstanding127,346,900
10 Day Avg. Volume309,520
30 Day Avg. Volume265,008
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.03
Enterprise Value/Revenue0.02
Enterprise Value/Gross Profit0.02
Enterprise Value/Ebitda0.11
Forecast
1Y Price Target
$29.33Price Target Upside3.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
AutoHome Business Overview & Revenue Model
Company DescriptionAutoHome (ATHM) is a leading online platform in China that provides comprehensive information and services related to the automotive industry. The company operates primarily in the automotive sector, offering a range of services including new and used car listings, automotive news, reviews, and research tools for consumers. AutoHome also provides a platform for dealerships and manufacturers to connect with potential buyers, enhancing the overall car buying experience through its extensive database and user-friendly interface.
How the Company Makes MoneyAutoHome generates revenue through several key streams. Primarily, the company earns money from advertising services, where automotive manufacturers and dealerships pay to promote their brands and listings on the AutoHome platform. Additionally, AutoHome charges fees for premium listings and enhanced visibility for dealerships looking to attract more customers. The company also monetizes its platform through lead generation, where it connects potential car buyers with dealerships, earning referral fees for successful transactions. Strategic partnerships with automotive manufacturers and other industry stakeholders further bolster its revenue, as these collaborations often lead to exclusive promotional opportunities and shared marketing initiatives.
AutoHome Earnings Call Summary
Earnings Call Date:Jul 31, 2025
(Q2-2025)
| % Change Since: 5.07%|
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Neutral
Autohome demonstrated strong advancements in AI technology and international expansion, along with significant growth in new retail and NEV revenues. However, financial metrics such as gross margin, operating profit, and adjusted net income showed a decline compared to the previous year. While there are optimistic outlooks for the second half of the year, current financial challenges indicate a need for cautious optimism.Q2-2025 Updates
Positive Updates
Expansion of New Retail Franchise Stores
The number of new retail franchise stores has surpassed 200, expanding service coverage and reaching a broader consumer base.
AI Technology Advancements
AI Smart Assistant covers all scenarios for both new and used cars, enhancing user decision-making and operational efficiency for dealerships.
International Expansion
Launch of the international version of Autohome website featuring over 1,900 vehicle models from 52 Chinese automobile brands, supporting the globalization of China's auto industry.
Growth in NEV Revenues
Total revenues from NEVs in the second quarter grew by 27% from last year.
Increase in Mobile DAUs
Average mobile Daily Active Users (DAUs) reached 75.74 million in June 2025, up by 11.5% from the same period last year.
Negative Updates
Decline in Gross Margin
Gross margin in the second quarter was 71.4%, down from 81.5% during the same period last year.
Decrease in Operating Profit
Operating profit in the second quarter was CNY 297 million, compared to CNY 412 million for the same period of 2024.
Reduced Adjusted Net Income
Adjusted net income attributable to Autohome was CNY 476 million in the second quarter, compared to CNY 572 million in the corresponding period of 2024.
Challenges in Media Services Revenue
The media service business remains challenged due to OEMs' cautious budgeting amidst a price war.
Company Guidance
During the second quarter and interim 2025 earnings call, Autohome provided guidance highlighting its strategic focus on expanding its O2O ecosystem, AI-driven innovations, and international business growth. The company surpassed 200 new retail franchise stores, enhancing its service coverage. Autohome's AI Smart Assistant now supports both new and used cars, improving customer decision-making. The company’s strategic partnerships, including with Alipay, have expanded user engagement. Autohome's international expansion included the launch of a global website featuring over 1,900 vehicle models. Financially, second-quarter net revenues reached CNY 1.76 billion, with media services at CNY 279 million, leads generation at CNY 733 million, and online marketplace and others at CNY 746 million, marking a 20.5% year-over-year increase. The company reported a gross margin of 71.4%, an operating profit of CNY 297 million, and adjusted net income of CNY 476 million. The average daily active users (DAUs) on mobile platforms grew by 11.5% year-over-year, reaching 75.74 million in June 2025. Autohome continues to prioritize AI integration and international expansion as key drivers for future growth.AutoHome Financial Statement Overview
Summary
AutoHome demonstrates a solid financial foundation with strong equity and minimal debt, ensuring stability. However, challenges include a declining revenue trend and absence of cash flow data in 2024. The company benefits from strong gross and EBITDA margins, though net profitability has weakened.Income Statement
AutoHome's income statement reveals a mixed performance. The company has shown a decline in total revenue from 2020 to 2024, with revenue decreasing from 8.66 billion in 2020 to 7.04 billion in 2024. This indicates a negative revenue growth trend. However, the gross profit margin remains strong at 78.9% in 2024, reflecting good cost control. The net profit margin declined to 25.5% in 2024 from higher levels in previous years, suggesting challenges in profitability. Despite these challenges, the company maintains a healthy EBITDA margin of 17.7% in 2024, showcasing operational efficiency.75
Positive
Balance Sheet
AutoHome's balance sheet is robust with a high equity ratio of 79.2% in 2024, indicating financial stability and a low reliance on debt. The debt-to-equity ratio is minimal at 0.001, which suggests prudent financial management with negligible debt levels. The return on equity has decreased over the years, standing at 7.5% in 2024, reflecting lower profitability relative to equity. Nonetheless, the company has maintained substantial stockholders' equity over the years, highlighting long-term financial strength.82
Very Positive
Cash Flow
The cash flow statement shows that AutoHome's operating cash flow has been positive, although it dropped to zero in 2024, signaling potential issues in cash generation. Free cash flow has been strong historically, but the lack of data for 2024 limits analysis. The operating cash flow to net income ratio was strong in previous years, indicating effective cash conversion from profits, yet the absence of these metrics in 2024 raises concerns about cash flow sustainability.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.88B | 7.04B | 7.18B | 6.94B | 7.24B | 8.66B |
| Gross Profit | 5.39B | 5.56B | 5.87B | 5.71B | 6.19B | 7.70B |
| EBITDA | 1.14B | 1.25B | 1.38B | 1.55B | 2.09B | 3.15B |
| Net Income | 1.76B | 1.79B | 1.94B | 1.94B | 2.56B | 3.28B |
Balance Sheet | ||||||
| Total Assets | 29.01B | 30.22B | 30.84B | 29.72B | 28.40B | 23.73B |
| Cash, Cash Equivalents and Short-Term Investments | 21.93B | 23.32B | 23.55B | 3.20B | 20.73B | 14.63B |
| Total Debt | 0.00 | 96.71M | 196.14M | 110.39M | 124.78M | 202.71M |
| Total Liabilities | 3.76B | 5.02B | 5.66B | 588.47M | 4.59B | 4.92B |
| Stockholders Equity | 24.00B | 23.95B | 23.93B | 2.35B | 22.75B | 17.63B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.23B | 2.37B | 2.45B | 3.30B | 3.06B |
| Operating Cash Flow | 0.00 | 1.37B | 2.45B | 2.57B | 3.52B | 3.33B |
| Investing Cash Flow | 0.00 | -3.05B | 1.00B | -3.11B | -3.81B | -2.99B |
| Financing Cash Flow | 0.00 | -1.70B | -1.12B | -1.14B | 2.90B | -546.97M |
AutoHome Technical Analysis
Positive
28.39
Price Trends
27.04
Positive
26.59
Positive
27.06
Positive
Market Momentum
0.47
Negative
55.75
Neutral
50.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATHM, the sentiment is Positive. The current price of 28.39 is above the 20-day moving average (MA) of 28.07, above the 50-day MA of 27.04, and above the 200-day MA of 27.06, indicating a bullish trend. The MACD of 0.47 indicates Negative momentum. The RSI at 55.75 is Neutral, neither overbought nor oversold. The STOCH value of 50.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ATHM.
AutoHome Risk Analysis
AutoHome disclosed 69 risk factors in its most recent earnings report. AutoHome reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AutoHome Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $3.57B | 16.70 | 6.05% | 6.06% | -7.06% | -20.71% | |
74 Outperform | $3.20B | 26.09 | 29.24% | ― | 4.80% | ― | |
73 Outperform | $1.46B | 22.14 | 9.18% | 4.59% | 26.71% | -23.67% | |
70 Outperform | $1.96B | 14.04 | 20.13% | ― | 5.37% | 13.08% | |
64 Neutral | £1.85B | 8.91 | -12.54% | 3.76% | 1.42% | -47.57% | |
54 Neutral | $165.39M | ― | -23.53% | ― | 11.66% | -4.69% | |
52 Neutral | $236.23M | ― | -12.44% | ― | 8.29% | 87.33% |
* Communication Services Sector Average
Performance Comparison
ATHM
AutoHome
28.39
5.80
25.68%
YELP
Yelp
31.04
-3.24
-9.45%
TRUE
TrueCar
1.91
-1.02
-34.81%
TRVG
trivago
3.31
1.23
59.13%
CARG
CarGurus
32.39
4.18
14.82%
OPRA
Opera
17.01
4.58
36.85%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.