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Phoenix New Media (FENG)
:FENG
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Phoenix New Media
(NYSE:FENG)
Rating:48Neutral
Price Target:
$2.50
▲(1.63% Upside)
Phoenix New Media (FENG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$27.74M
Dividend YieldN/A
Average Volume (3M)11.60K
Price to Earnings (P/E)―
Beta (1Y)0.33
Revenue Growth5.72%
EPS Growth-39.22%
CountryUS
Employees893
SectorCommunication Services
Sector Strength96
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-0.12
Shares Outstanding5,399,831
10 Day Avg. Volume26,228
30 Day Avg. Volume11,602
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap-4.07
Enterprise Value/Revenue-0.16
Enterprise Value/Gross Profit-0.39
Enterprise Value/Ebitda1.85
Forecast
1Y Price Target
$2.50Price Target Upside1.63% Upside
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 through multiple streams, primarily including advertising sales, subscription fees, and content licensing. A significant portion of its earnings comes from digital advertising, where businesses pay to promote their products and services across Phoenix's platforms. Additionally, the company offers premium subscription services that grant users access to exclusive content and features. Content licensing agreements with other media outlets further diversify its revenue sources. Strategic partnerships with advertisers and content creators also enhance its earning potential, allowing for cross-promotion and collaborative content initiatives.
Phoenix New Media Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 18, 2025
Earnings Call Sentiment Neutral
The earnings call presented several positive developments, including revenue growth and significant gains in paid services revenues. The company also expanded its global influence and reduced cost of revenues. However, these were offset by increased operating expenses, a higher net loss, and stagnant advertising revenues amid a challenging market environment. The highlights and lowlights are relatively balanced.Q2-2025 Updates
Positive Updates
Revenue Growth
Total revenues increased by 11.2% year-on-year to RMB 187.1 million from RMB 168.3 million.
Significant Growth in Paid Services
Paid services revenues increased by 148.5% year-on-year to RMB 33.8 million from RMB 13.6 million, mainly driven by digital reading services.
Strong Content Engagement
Phoenix News video accounts surpassed 5 million followers with annual views exceeding 2 billion and projected revenue growth approaching 50%.
Global Expansion and Industry Influence
Hosted the 2025 China Enterprise Global Expansion Summit and signed a strategic agreement at the 2025 AIM Global Summit to expand international partnerships.
Reduction in Cost of Revenues
Cost of revenues decreased by 7.6% to RMB 95.1 million from RMB 102.9 million in the same period of last year.
Negative Updates
Increase in Operating Expenses
Total operating expenses increased by 33.5% year-on-year to RMB 99.2 million from RMB 74.3 million, mainly due to higher sales and marketing expenses.
Net Loss Increase
Net loss attributable to iFeng was RMB 10.4 million compared to RMB 5.5 million in the same period of last year.
Flat Advertising Revenue
Net advertising revenues slightly decreased to RMB 153.3 million from RMB 154.7 million in the same period of last year, reflecting a challenging ad market environment.
Company Guidance
During Phoenix New Media's second quarter 2025 earnings call, the company reported a total revenue of RMB 187.1 million, reflecting an 11.2% year-on-year increase from RMB 168.3 million. The net advertising revenues were slightly down at RMB 153.3 million compared to RMB 154.7 million from the previous year. However, paid services revenues showcased substantial growth, increasing by 148.5% to RMB 33.8 million from RMB 13.6 million, primarily due to digital reading services. The cost of revenues decreased by 7.6% to RMB 95.1 million, while total operating expenses increased by 33.5% to RMB 99.2 million, attributed mainly to higher sales and marketing costs. The company experienced a loss from operations of RMB 7.2 million, and a net loss attributable to iFeng of RMB 10.4 million, compared to RMB 5.5 million in the same period last year. Looking forward, Phoenix New Media forecasts third-quarter revenues between RMB 203.4 million and RMB 218.4 million, with net advertising revenues anticipated to range from RMB 168.4 million to RMB 178.4 million, and paid service revenues projected between RMB 35 million and RMB 40 million. The company remains optimistic despite a flat advertising market, emphasizing its strong brand credibility and international marketing efforts as key competitive advantages.Phoenix New Media Financial Statement Overview
Summary
Phoenix New Media is facing significant financial challenges characterized by declining revenue and persistent losses. The balance sheet remains stable with low leverage, but the cash flow statement highlights severe liquidity concerns. The company must address operational inefficiencies and improve cash generation to enhance 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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 705.91M | 703.70M | 692.02M | 785.71M | 1.03B | 1.21B |
| Gross Profit | 287.41M | 268.71M | 227.88M | 237.20M | 432.93M | 649.56M |
| EBITDA | -61.17M | -43.19M | -83.13M | -136.69M | -270.04M | -65.39M |
| Net Income | -57.27M | -53.55M | -102.50M | -125.72M | -273.07M | 380.37M |
Balance Sheet | ||||||
| Total Assets | 1.61B | 1.71B | 1.76B | 2.03B | 2.41B | 2.77B |
| Cash, Cash Equivalents and Short-Term Investments | 974.78M | 1.04B | 1.09B | 1.15B | 1.50B | 1.64B |
| Total Debt | 50.17M | 56.67M | 69.44M | 104.59M | 45.85M | 53.04M |
| Total Liabilities | 530.39M | 598.52M | 595.12M | 765.60M | 1.02B | 1.11B |
| Stockholders Equity | 1.15B | 1.18B | 1.23B | 1.32B | 1.43B | 1.64B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -49.52M | -70.54M | -346.37M | -159.66M | -115.20M |
| Operating Cash Flow | 0.00 | -44.30M | -60.83M | -312.41M | -142.82M | -103.11M |
| Investing Cash Flow | 0.00 | 127.52M | 487.84M | 228.70M | -42.65M | 746.22M |
| Financing Cash Flow | 0.00 | -1.90M | -655.00K | 0.00 | -3.54M | -639.66M |
Phoenix New Media Technical Analysis
Positive
2.46
Price Trends
2.26
Positive
2.16
Positive
2.26
Positive
Market Momentum
0.08
Negative
54.16
Neutral
32.38
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 2.46 is above the 20-day moving average (MA) of 2.34, above the 50-day MA of 2.26, and above the 200-day MA of 2.26, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 54.16 is Neutral, neither overbought nor oversold. The STOCH value of 32.38 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 (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $46.60B | 4.08 | -11.26% | 4.13% | 1.85% | -42.71% | |
58 Neutral | $32.14M | ― | -33.83% | ― | -0.06% | -87.64% | |
58 Neutral | $41.44M | ― | -6.29% | ― | 1.27% | 78.96% | |
58 Neutral | $73.01M | ― | -48.12% | ― | 4.11% | 78.58% | |
54 Neutral | $60.72M | ― | -22.39% | ― | 12.49% | -30.99% | |
52 Neutral | $40.78M | ― | -133.94% | ― | -31.96% | 56.06% | |
48 Neutral | $27.74M | ― | -5.32% | ― | 5.72% | -39.22% |
* Communication Services Sector Average
Performance Comparison
FENG
Phoenix New Media
2.46
-0.15
-5.75%
SCOR
comScore
6.35
-0.32
-4.80%
IZEA
IZEA Worldwide
3.72
1.58
73.83%
ZDGE
Zedge
2.93
-0.08
-2.66%
MNY
MoneyHero Limited
1.77
0.73
70.19%
BODI
Beachbody Company
5.53
-0.65
-10.52%
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.