Boqii Holding (BQ) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 2.37M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.50
• Revenue Growth: -34.36%
• EPS Growth: 59.23%
• Country: US
• Employees: 241
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): >-0.01
• Shares Outstanding: 2,798,128
• 10 Day Avg. Volume: 735,485
• 30 Day Avg. Volume: 2,371,696
• PEG Ratio: <0.01
• Price to Book (P/B): 0.10
• Price to Sales (P/S): 0.04
• P/FCF Ratio: -0.26
• Enterprise Value/Market Cap: 10.00T>
• Enterprise Value/Revenue: 1.88
• Enterprise Value/Gross Profit: 9.19
• Enterprise Value/Ebitda: -38.07
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: $1.50 ▼(-17.13% Downside)

Boqii Holding's overall stock score is heavily impacted by its poor financial performance, characterized by declining revenues, negative profitability, and cash flow issues. Technical analysis also indicates bearish momentum, with the stock trading below key moving averages and negative MACD. The valuation is unattractive due to a negative P/E ratio and lack of dividend yield, further weighing down the score.

Boqii Holding Business Overview & Revenue Model

Company Description

Boqii Holding Ltd. is a leading pet supply e-commerce platform based in China, primarily focused on providing a wide range of products and services for pet owners. The company operates in the pet care sector, offering an extensive selection of pet food, accessories, health products, and grooming services. Boqii aims to enhance the pet ownership experience by providing high-quality products and fostering a community for pet lovers through its online marketplace.

How the Company Makes Money

Boqii Holding generates revenue primarily through its e-commerce platform by selling pet food, supplies, and accessories directly to consumers. The company leverages a variety of revenue streams, including product sales, advertising services for brands looking to promote their products on their platform, and membership fees for premium services. Additionally, Boqii partners with pet-related service providers, such as veterinary services and pet grooming, to offer bundled services, further driving revenue. The growth of the pet industry in China, along with increasing disposable income and pet ownership rates, significantly contributes to the company's earnings potential.

Boqii Holding Financial Statement Overview

Summary

Boqii Holding faces substantial financial challenges across all verticals. The company is struggling with declining revenues, negative profitability, and cash flow issues. While there are some improvements in leverage, the overall financial health remains weak, with ongoing operational losses and liquidity concerns.

Income Statement

Boqii Holding's income statement reveals significant challenges. The company has experienced declining revenue over the past years, with a negative revenue growth rate of -33.90% in the most recent year. Profitability metrics are concerning, with negative net profit margins and EBIT margins, indicating ongoing operational losses. The gross profit margin has slightly improved to 21.47%, but overall, the company struggles with profitability and revenue growth.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.26, which is an improvement from previous years, indicating better leverage management. However, the return on equity remains negative, reflecting continued losses. The equity ratio is relatively stable, but the company's financial stability is still under pressure due to ongoing losses and past high leverage.

Cash Flow

Cash flow analysis highlights significant challenges, with negative operating and free cash flows. The free cash flow growth rate is negative, and the operating cash flow to net income ratio is unfavorable, indicating cash flow issues. Despite a positive free cash flow to net income ratio, the overall cash flow situation remains weak, impacting the company's liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	524.43M	468.89M	709.35M	1.09B	1.19B	1.01B
Gross Profit	107.00M	100.65M	140.74M	233.49M	242.73M	187.30M
EBITDA	-25.83M	-38.14M	-38.25M	-61.01M	-94.55M	-146.97M
Net Income	-39.22M	-54.13M	-63.66M	-102.80M	-128.39M	-194.44M
Balance Sheet
Total Assets	729.31M	316.17M	383.21M	540.80M	778.31M	880.57M
Cash, Cash Equivalents and Short-Term Investments	210.28M	42.66M	72.72M	159.65M	290.94M	460.78M
Total Debt	305.89M	50.06M	66.38M	209.55M	380.39M	614.99M
Total Liabilities	437.31M	87.79M	122.33M	315.85M	529.96M	752.88M
Stockholders Equity	242.80M	189.81M	218.68M	178.28M	199.18M	82.67M
Cash Flow
Free Cash Flow	-355.88M	-70.14M	-25.99M	-55.92M	-150.60M	-254.00M
Operating Cash Flow	-348.52M	-66.83M	-25.43M	-54.07M	-147.50M	-247.49M
Investing Cash Flow	490.97M	24.60M	47.81M	46.50M	21.15M	-184.42M
Financing Cash Flow	-2.57B	8.15M	-33.13M	-76.66M	2.00M	648.49M

Boqii Holding Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BQ, the sentiment is Negative. The current price of 1.81 is below the 20-day moving average (MA) of 4.05, below the 50-day MA of 6.40, and below the 200-day MA of 3.47, indicating a bearish trend. The MACD of -1.55 indicates Positive momentum. The RSI at 38.19 is Neutral, neither overbought nor oversold. The STOCH value of 8.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BQ.

Boqii Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JD	70 Outperform	$45.34B	9.77	13.68%	3.39%	16.54%	-3.61%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CHWY	54 Neutral	$13.81B	93.93	34.48%	―	9.04%	-56.79%
JWEL	54 Neutral	$3.21M	-0.40	―	―	-16.89%	31.24%
WNW	44 Neutral	$5.07M	0.18	12.11%	―	570.49%	―
YJ	41 Neutral	$7.14M	―	―	―	-35.95%	26.08%
BQ	38 Underperform	―	-8.06	-25.20%	―	-34.36%	59.23%

Boqii Holding Corporate Events

Boqii Holding Completes $4.2 Million Direct Offering

On November 4, 2025, Boqii Holding Limited completed a registered direct offering, raising approximately $4.2 million through the sale of 698,000 Class A ordinary shares and pre-funded warrants. The proceeds from this offering are intended for working capital and general corporate purposes. The offering was facilitated by Univest Securities, LLC as the placement agent, and included customary agreements and conditions. This financial move is expected to support Boqii’s operational activities and potentially strengthen its market position in the pet industry.

Boqii Addresses Unusual Trading Activity on NYSE American

On October 31, 2025, Boqii Holding Limited announced it had noticed unusual trading activity in its Class A ordinary shares on the NYSE American. After conducting an internal review, the company confirmed no new material developments beyond previously disclosed information. This announcement serves as a reassurance to investors and stakeholders, emphasizing the importance of relying on official company filings and press releases for updates.

Boqii Addresses Unusual Trading Activity in October 2025

On October 6, 2025, Boqii Holding Limited reported unusual trading activity in its Class A ordinary shares on the NYSE American LLC, which occurred on September 29 and October 2, 2025. After conducting an internal review, the company confirmed no new material developments beyond what has been previously disclosed, advising investors to rely on official filings and press releases for updates.