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Phoenix New Media Limited (FENG)
NYSE:FENG
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Phoenix New Media
(NYSE:FENG)
Rating:51Neutral
Price Target:
$2.00
▼(-12.66%Downside)
Phoenix New Media (FENG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$27.99M
Dividend YieldN/A
Average Volume (3M)6.08K
Price to Earnings (P/E)―
Beta (1Y)0.33
Revenue Growth0.38%
EPS Growth19.52%
CountryUS
Employees893
SectorCommunication Services
Sector Strength76
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-0.34
Shares Outstanding5,399,831
10 Day Avg. Volume3,003
30 Day Avg. Volume6,085
Financial Highlights & Ratios
PEG Ratio3.44
Price to Book (P/B)0.17
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$2.00Price Target Upside-12.66% Downside
Rating ConsensusHold
Number of Analyst Covering0
Phoenix New Media Business Overview & Revenue Model
Company DescriptionPhoenix New Media Limited provides content on an integrated Internet platform in the People's Republic of China. The company operates through two segments, Net Advertising Services and Paid Services. It offers content and services through PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV. The company, through its website, ifeng.com, provides various interest-based content verticals, such as news, finance, video, automobiles, technology, entertainment, military, real estate, fashion, and sport; and offers interactive services, including comments posting and user surveys. Its mobile channel consists of ifeng News, a news application that provides newsfeeds and other contents in the form of text, image, live streaming, and video; ifeng Video, a video application, which offers video news, live broadcasting, Phoenix TV programs content, etc.; i.ifeng.com mobile Internet website; and digital reading applications. In addition, Phoenix New Media Limited offers mobile newspaper, mobile video, and mobile game services, as well as wireless value-added services. The company was incorporated in 2007 and is headquartered in Beijing, the People's Republic of China. Phoenix New Media Limited is a subsidiary of Phoenix Satellite Television (B.V.I.) Holding Limited.
How the Company Makes MoneyPhoenix New Media generates revenue primarily through online advertising services, which include display advertisements, video advertisements, and mobile advertisements on its platform. The company collaborates with a variety of advertisers and agencies to offer tailored advertising solutions that leverage its extensive user base and data insights. Additionally, Phoenix New Media earns income through content distribution services, providing technology and content solutions to third-party clients, and subscription services where users pay for premium content. Strategic partnerships with media and technology companies also play a critical role in expanding its distribution network and enhancing its content offerings, thereby contributing to its revenue streams.
Phoenix New Media Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q1-2025)
| % Change Since: 9.57%|
Next Earnings Date:Aug 19, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook. While there were significant achievements in content innovation and a notable increase in paid services revenue, the decline in net advertising revenue and the increase in operating expenses and net losses indicate substantial challenges. The company is making strategic expansions in new advertising sectors, but existing challenges continue to impact financial performance.Q1-2025 Updates
Positive Updates
Paid Services Revenue Surge
Paid services revenues were CNY 34.7 million, representing a 141% increase year-on-year from CNY 14.4 million, primarily driven by revenue generated from digital reading services offered through mini programs on third-party applications.
Cost of Revenues Decrease
Cost of revenues decreased by 15.1% to CNY 92.5 million from CNY 109 million in the same period of last year.
New Content Innovations and Partnerships
Phoenix New Media launched KCA Link and a new column 'Why It Is,' which garnered over 100,000 WeChat reads, reflecting robust engagement and social impact. These innovations have led to new commercial partnerships and increased brand trust and visibility.
Expansion in New Advertising Sectors
Despite challenges, Phoenix New Media expanded quickly in finance, e-commerce, consumer goods, and electronics sectors, achieving good progress.
Negative Updates
Net Advertising Revenue Decline
Net advertising revenues were CNY 120.5 million compared to CNY 138.6 million in the same period of last year, showing a decline.
Operating Expenses Increase
Total operating expenses were CNY 101.1 million, reflecting a 25.6% increase year-on-year from CNY 80.5 million, primarily due to higher sales and marketing expenses.
Increased Loss from Operations
Loss from operations was CNY 38.4 million compared to CNY 36.5 million in the same period of last year.
Net Loss Increase
Net loss attributable to ifeng was CNY 29.7 million compared to CNY 26 million in the same period of last year.
Company Guidance
During the Phoenix New Media First Quarter 2025 Earnings Call, the company reported a total revenue of CNY 155.2 million, a 1.4% increase year-on-year, with net advertising revenues at CNY 120.5 million and paid service revenues surging by 141% to CNY 34.7 million. The cost of revenues decreased by 15.1% to CNY 92.5 million, while total operating expenses rose by 25.6% to CNY 101.1 million, leading to a loss from operations of CNY 38.4 million. The net loss attributable to ifeng was CNY 29.7 million. For Q2 2025, the company forecasts total revenues between CNY 182.1 million and CNY 197.1 million, with net advertising revenues expected to be between CNY 148.7 million and CNY 158.7 million, and paid service revenues projected to range from CNY 33.4 million to CNY 38.4 million. Despite challenges, the company remains committed to content innovation, expanding commercial opportunities, and enhancing operational efficiency to deliver long-term value for investors.Phoenix New Media Financial Statement Overview
Summary
Phoenix New Media faces significant financial challenges with declining revenue and persistent net losses. Despite a solid equity base, the company's cash flow situation is concerning, with consistently negative free and operating cash flows. The balance sheet is stable, but operational inefficiencies and liquidity issues weigh heavily on financial health.Income Statement
Phoenix New Media has been experiencing a declining revenue trend over the past years, with significant net losses each year. The gross profit margin improved slightly in 2024 compared to 2023, but the net profit margin remains negative due to consistent net losses. The EBIT and EBITDA margins are negative, indicating ongoing operational challenges.35
Negative
Balance Sheet
The company maintains a solid equity base with a high equity ratio, indicating stability in its financial structure. However, the debt-to-equity ratio is low due to minimal debt, which is a positive aspect but doesn't offset the declining equity year-over-year. The return on equity is negative, reflecting continued unprofitability.45
Neutral
Cash Flow
Phoenix New Media shows a troubling cash flow situation with consistently negative free cash flow and operating cash flow over the years. There is no improvement in free cash flow, and the operating cash flow to net income ratio is unfavorable, suggesting inefficiencies in converting earnings into cash.25
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 703.70M | 692.02M | 785.71M | 1.03B | 1.21B |
| Gross Profit | 268.71M | 227.88M | 237.20M | 432.93M | 649.56M |
| EBITDA | -43.19M | -83.13M | -136.69M | -270.04M | -65.39M |
| Net Income | -53.55M | -102.50M | -125.72M | -273.07M | 380.37M |
Balance Sheet | |||||
| Total Assets | 1.71B | 1.76B | 2.03B | 2.41B | 2.77B |
| Cash, Cash Equivalents and Short-Term Investments | 1.04B | 1.09B | 1.15B | 1.50B | 1.64B |
| Total Debt | 56.67M | 69.44M | 104.59M | 45.85M | 53.04M |
| Total Liabilities | 598.52M | 595.12M | 765.60M | 1.02B | 1.11B |
| Stockholders Equity | 1.18B | 1.23B | 1.32B | 1.43B | 1.64B |
Cash Flow | |||||
| Free Cash Flow | -49.52M | -70.54M | -346.37M | -159.66M | -115.20M |
| Operating Cash Flow | -44.30M | -60.83M | -312.41M | -142.82M | -103.11M |
| Investing Cash Flow | 127.52M | 487.84M | 228.70M | -42.65M | 746.22M |
| Financing Cash Flow | -1.90M | -655.00K | 0.00 | -3.54M | -639.66M |
Phoenix New Media Technical Analysis
Positive
2.29
Price Trends
2.18
Positive
2.11
Positive
2.35
Negative
Market Momentum
0.05
Negative
57.50
Neutral
69.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FENG, the sentiment is Positive. The current price of 2.29 is above the 20-day moving average (MA) of 2.25, above the 50-day MA of 2.18, and below the 200-day MA of 2.35, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 57.50 is Neutral, neither overbought nor oversold. The STOCH value of 69.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FENG.
Phoenix New Media Risk Analysis
Phoenix New Media disclosed 95 risk factors in its most recent earnings report. Phoenix New Media reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
We believe we are not an investment company pursuant to Section 3(b)(1) under the Investment Company Act of 1940, as amended, or the 1940 Act, because we believe we are primarily engaged in a non-investment company business, but there can be no assurances that the SEC or the courts will agree with our view. Q4, 2023
2.
We intend to conduct our business activities to maintain compliance with the 1940 Act and that may negatively impact our ability to operate our business as contemplated. Moreover, if we were deemed an "investment company" under 1940 Act, we could be required to take remedial actions that would further interfere operating our business as contemplated. If we are unable to successfully complete necessary remedial actions, we may face severe legal consequences associated with the operation of an unregistered investment company. Q4, 2023
Phoenix New Media Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $63.66M | ― | -6.29% | ― | 1.27% | 78.96% | |
62 Neutral | $42.18B | -1.56 | -12.06% | 2.81% | 2.10% | -71.01% | |
58 Neutral | $85.54M | ― | -48.12% | ― | 4.11% | 78.58% | |
56 Neutral | $69.40M | ― | -28.40% | ― | 7.16% | -90.90% | |
51 Neutral | $27.99M | ― | -4.89% | ― | 0.38% | 19.52% | |
50 Neutral | $32.71M | ― | -130.56% | ― | -26.11% | 57.68% | |
47 Neutral | $27.51M | ― | -29.17% | ― | -3.17% | 13.15% |
* Communication Services Sector Average
Performance Comparison
FENG
Phoenix New Media
2.29
-1.29
-36.03%
SCOR
comScore
5.56
-8.44
-60.29%
IZEA
IZEA Worldwide
3.94
1.64
71.30%
ZDGE
Zedge
4.25
0.50
13.33%
MNY
MoneyHero Limited
2.05
0.41
25.00%
BODI
Beachbody Company
4.61
-3.04
-39.74%
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.