Fangdd Network Group (DUO) AI Stock Analysis

• Market Cap: $45.10M
• Dividend Yield: N/A
• Average Volume (3M): 1.43M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.00
• Revenue Growth: 48.49%
• EPS Growth: -9554.26%
• Country: US
• Employees: 134
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -1.75
• Shares Outstanding: 38,529,285
• 10 Day Avg. Volume: 601,118
• 30 Day Avg. Volume: 1,434,248
• PEG Ratio: -0.18
• Price to Book (P/B): 1.61
• Price to Sales (P/S): 1.84
• P/FCF Ratio: -6.81
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: 0.10
• Enterprise Value/Gross Profit: 0.63
• Enterprise Value/Ebitda: -0.31
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $1.00 ▼(-35.48% Downside)
• Action: Reiterated Date: 01/31/26
• Date: Action: Reiterated 01/31/26

The score is held back primarily by weak technicals (below major moving averages and negative MACD) and only modest financial performance despite a recent profit turnaround. Valuation signals are limited by a negative P/E and the absence of dividend yield data.

Positive Factors

Revenue growth and return to net profit

A near 50% revenue increase and a return to net profit indicate meaningful demand for Fangdd’s platform and scaling of its service mix. Sustained top-line growth and profitability provide a larger base to fund product development, invest in distribution, and improve unit economics over the medium term.

Improving gross profit margin

Improved gross margins point to better cost control or higher-value services, which supports long-term margin recovery if preserved. Stronger gross economics increase leverage from incremental revenue, aiding eventual operating-margin turnaround once fixed costs are absorbed.

Cautious leverage and capital structure cleanup

A low debt-to-equity stance plus extinguishing a sizable convertible note reduces near-term cash interest and maturity pressures. Converting the note into equity strengthens the balance sheet and lowers default risk, improving financial flexibility to execute strategic initiatives over coming quarters.

Negative Factors

Negative EBIT and EBITDA margins

Despite revenue and gross margin improvements, persistent negative EBIT/EBITDA margins indicate core operations are not yet profitable. This structural profitability gap limits free cash generation and heightens reliance on financing or further efficiency gains to sustain growth.

Negative free cash flow and weak cash conversion

Ongoing negative free cash flow and poor conversion of earnings into cash reduce the company’s ability to self-fund growth or capex. Over a multi-month horizon this increases dependence on external capital and raises liquidity risk if operating cash performance does not improve.

Equity issuance and reliance on private placements

Relying on private, offshore equity placements and converting debt to shares improves solvency but raises dilution risk and may signal limited access to public financing. Increased share count can depress per-share metrics and may constrain returns for existing shareholders absent faster cash recovery.

Fangdd Network Group Business Overview & Revenue Model

Company Description

Fangdd Network Group Ltd., an investment holding company, provides real estate information services through online platforms in the People's Republic of China. It operates Property Cloud, a software as a service solution for real estate sellers. The company also operates platforms for real estate agents, including Duoduo Sales, which offers real estate agents with instant access to marketplace functionalities and allows them to conduct transactions on the go; Duoduo Cloud Agency that provides a suite of tools and services to agencies to migrate business management from offline to online; Duoduo Cloud Sales, which connects agents to property database and buyer base, allowing them to source, manage, and complete transactions online; and provides supply-chain financial products and support transactions, as well as online and offline, and project-specific training and guidance services. In addition, it operates Fangduoduo that offers personalized services to potential real estate buyers; and provides information matching, real estate agency, financial, and channel services. Further, the company operates www.fangdd.com that offers real estate agents and real estate buyers region-specific real estate news, information, property data, and access to shared-interest online communities; and offers data analysis services. As of December 31, 2021, its marketplace had approximately 378 thousand active agents and covers 157 million properties in China. The company was founded in 2011 and is headquartered in Shenzhen, the People's Republic of China.

How the Company Makes Money

Fangdd generates revenue through multiple streams, primarily by charging real estate agents and developers for access to its platform and services. This includes fees for listing properties, marketing solutions, and premium services that enhance visibility and transaction efficiency. Additionally, the company earns income from data analytics services, where it provides insights and market analysis to real estate professionals. Strategic partnerships with real estate agencies and developers also play a crucial role in driving revenue, as they often collaborate on joint marketing efforts and share resources to improve service offerings. Overall, Fangdd's revenue model is built on leveraging technology to streamline real estate transactions and enhance service delivery.

Fangdd Network Group Financial Statement Overview

Summary

Revenue improved and the company returned to net profit, with better gross margin. However, negative EBIT/EBITDA margins, high liabilities, and still-negative free cash flow (and weak profit-to-cash conversion) keep financial strength below average.

Income Statement

Fangdd Network Group has shown improvement in revenue, with a notable increase from the previous year, while also turning a net profit in the latest period. Despite this, the company still faces challenges with negative EBIT and EBITDA margins, which highlight ongoing operational inefficiencies. The gross profit margin has seen improvements, indicating better cost management.

Balance Sheet

The company's balance sheet reveals a relatively low debt-to-equity ratio, suggesting cautious use of leverage. However, the total liabilities remain high, and the equity ratio is moderate due to substantial liabilities. The return on equity has improved with the positive net income but remains a concern when considering historical performance.

Cash Flow

Cash flow statements indicate a significant reduction in negative free cash flow compared to previous periods, although it remains negative. The operating cash flow to net income ratio suggests that the company is struggling to convert its profits into cash flow, a crucial aspect for sustaining operations and growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	402.53M	339.10M	284.96M	245.95M	942.38M	2.45B
Gross Profit	62.74M	61.75M	41.19M	24.73M	106.51M	414.47M
EBITDA	-128.35M	-123.98M	-92.56M	-223.62M	-949.60M	-189.94M
Net Income	-24.67M	30.83M	-91.75M	-244.04M	-1.17B	-221.38M
Balance Sheet
Total Assets	679.00M	731.19M	769.90M	1.08B	1.91B	4.05B
Cash, Cash Equivalents and Short-Term Investments	178.38M	188.98M	137.04M	145.93M	498.26M	852.45M
Total Debt	10.34M	1.46M	140.00K	74.53M	134.78M	443.44M
Total Liabilities	297.79M	347.89M	578.40M	981.28M	1.61B	2.58B
Stockholders Equity	380.19M	386.34M	195.84M	100.12M	313.26M	1.44B
Cash Flow
Free Cash Flow	-84.65M	-91.61M	-186.41M	-127.18M	-73.08M	-335.24M
Operating Cash Flow	-54.50M	-60.37M	-186.12M	-126.98M	-60.62M	-325.00M
Investing Cash Flow	-148.75M	-145.98M	31.43M	-159.27M	-43.73M	5.85M
Financing Cash Flow	145.39M	146.63M	119.83M	-58.65M	-307.13M	-46.56M

Fangdd Network Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DUO, the sentiment is Negative. The current price of 1.55 is above the 20-day moving average (MA) of 1.24, above the 50-day MA of 1.44, and below the 200-day MA of 2.26, indicating a bearish trend. The MACD of -0.10 indicates Negative momentum. The RSI at 41.66 is Neutral, neither overbought nor oversold. The STOCH value of 50.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DUO.

Fangdd Network Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
RMAX	60 Neutral	$205.70M	16.03	2.87%	―	-6.06%	―
OPAD	55 Neutral	$36.82M	-0.50	-108.03%	―	-36.25%	11.92%
FTHM	51 Neutral	$32.32M	-1.24	-43.75%	―	32.78%	36.50%
DUO	46 Neutral	$45.10M	-1.29	-8.20%	―	48.49%	-9554.26%
OMH	45 Neutral	$28.65M	―	―	―	―	―

Fangdd Network Group Corporate Events

Fangdd Network Group Extinguishes US$34.3 Million Note Through Share Conversion and Issues New Class C Shares

On December 5, 2025, Fangdd Network Group Ltd. received a conversion notice from the holder of a US$34.32 million convertible promissory note that had been issued on October 24, 2025 as consideration for Fangdd’s acquisition of certain assets. The noteholder elected to convert the entire outstanding balance into 32,971,466 Class A ordinary shares at a conversion price of US$1.0409 per share, with the shares allocated to designated affiliates of the investor, after which the note was fully extinguished and cancelled. Following this conversion, and in line with a previously signed share subscription agreement, the company also issued 12,731 Class C ordinary shares at US$1.81 per share to ZX International Ltd., an entity controlled by chairman and CEO Xi Zeng. Fangdd stated that these equity issuances, completed in December 2025, did not result in a change of control; immediately afterward, the company had 38,548,413 ordinary shares outstanding across its three share classes, with the transactions strengthening its equity base while relying on private, offshore placements exempt from U.S. registration requirements.

The most recent analyst rating on (DUO) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Fangdd Network Group stock, see the DUO Stock Forecast page.