Phoenix New Media Limited (FENG)
NYSE:FENG
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Phoenix New Media
(NYSE:FENG)
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Rating:46Neutral
Price Target:
$2.00
▲(5.82% Upside)
Action:ReiteratedDate:11/13/25
Phoenix New Media's overall stock score is primarily impacted by its poor financial performance and weak technical indicators. Despite positive developments in revenue growth and reduced net loss, the company's ongoing financial challenges and bearish market sentiment weigh heavily on the score.
Positive Factors
Revenue Growth
Sustained 22% revenue growth reflects stronger monetization and user traction across Phoenix's platforms. Durable top-line expansion supports scale economies, funds strategic investments, and provides a clearer path to converting growth into sustained operating leverage if the trend continues over quarters.
Negative Factors
Negative Cash Flow
Persistent negative operating and free cash flow reflects weak cash generation and conversion of earnings into liquidity. Over months this constrains reinvestment, increases reliance on external funding, and elevates execution risk for scaling paid services or absorbing marketing spend.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained 22% revenue growth reflects stronger monetization and user traction across Phoenix's platforms. Durable top-line expansion supports scale economies, funds strategic investments, and provides a clearer path to converting growth into sustained operating leverage if the trend continues over quarters.
Read all positive factors
Phoenix New Media (FENG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.22M
Dividend YieldN/A
Average Volume (3M)19.35K
Price to Earnings (P/E)<0.1
Beta (1Y)0.42
Revenue Growth9.16%
EPS Growth-15.28%
CountryUS
Employees893
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)0.53
Shares Outstanding5,419,337
10 Day Avg. Volume7,892
30 Day Avg. Volume19,350
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.18
Price to Sales (P/S)0.29
P/FCF Ratio-4.16
Enterprise Value/Market Cap-22.84
Enterprise Value/Revenue-0.67
Enterprise Value/Gross Profit-1.46
Enterprise Value/Ebitda18.77
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Phoenix New Media Business Overview & Revenue Model
Company Description
Phoenix 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 chann...
How the Company Makes Money
Phoenix New Media generates revenue through multiple streams, primarily including advertising, subscription services, and content licensing. Advertising is the most significant revenue source, where the company sells ad placements across its digit...
Phoenix New Media Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong performance in revenue growth and user engagement, with significant improvements in paid services and reduction in net loss. However, increased operating expenses and a challenging advertising market present notable concerns.Positive Updates
Significant Revenue Growth
Total revenues increased by 22.3% year-on-year to RMB 200.9 million from RMB 164.3 million.
Negative Updates
Increased Operating Expenses
Total operating expenses rose by 23.6% year-on-year to RMB 109 million, largely due to higher sales and marketing expenses.
Read all updates
Q3-2025 Updates
Positive
Negative
Significant Revenue Growth
Total revenues increased by 22.3% year-on-year to RMB 200.9 million from RMB 164.3 million.
Read all positive updates
Company Guidance
During the third quarter of 2025, Phoenix New Media reported total revenues of RMB 200.9 million, marking a 22.3% increase from the previous year. Net advertising revenues rose by 7.3% year-on-year to RMB 159.3 million, while paid services revenues surged 161.6% to RMB 41.6 million, driven by digital reading services. Operating expenses increased by 23.6% to RMB 109 million, primarily due to higher sales and marketing costs. Despite the increase in expenses, the company reduced its net loss to RMB 4.9 million from RMB 18.5 million in the previous year. Looking forward to the fourth quarter, the company forecasts total revenues between RMB 205.9 million and RMB 220.9 million, with net advertising revenues projected to be between RMB 171.4 million and RMB 181.4 million, and paid service revenues anticipated to range from RMB 34.5 million to RMB 39.5 million.Phoenix New Media Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
45
Neutral
Cash Flow
25
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 761.38M | 703.70M | 692.02M | 785.71M | 1.03B | 1.21B |
| Gross Profit | 347.45M | 268.71M | 227.88M | 237.20M | 432.93M | 625.02M |
| EBITDA | -27.04M | -43.19M | -83.13M | -136.69M | -270.04M | -65.39M |
| Net Income | -48.60M | -53.55M | -102.50M | -109.65M | -205.70M | 380.37M |
Balance Sheet | ||||||
| Total Assets | 1.63B | 1.71B | 1.76B | 2.03B | 2.41B | 2.77B |
| Cash, Cash Equivalents and Short-Term Investments | 993.76M | 1.04B | 1.09B | 1.15B | 1.50B | 1.64B |
| Total Debt | 47.83M | 56.67M | 69.44M | 104.59M | 45.85M | 53.04M |
| Total Liabilities | 564.36M | 598.52M | 595.12M | 765.60M | 1.02B | 1.11B |
| Stockholders Equity | 1.13B | 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
1.89
Price Trends
1.80
Positive
1.93
Negative
2.14
Negative
Market Momentum
0.01
Negative
56.56
Neutral
36.31
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 1.89 is above the 20-day moving average (MA) of 1.78, above the 50-day MA of 1.80, and below the 200-day MA of 2.14, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 56.56 is Neutral, neither overbought nor oversold. The STOCH value of 36.31 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
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $35.66M | -3.41 | -7.21% | ― | 0.77% | 74.60% | |
56 Neutral | $83.36M | -25.25 | -175.73% | ― | -37.41% | 60.58% | |
49 Neutral | $8.28M | 6.49 | -35.00% | ― | ― | ― | |
46 Neutral | $22.22M | 0.02 | -4.12% | ― | 9.16% | -15.28% | |
43 Neutral | $4.12M | -2.09 | -63.25% | ― | 70.54% | 22.59% |
* Communication Services Sector Average
FENG
Phoenix New Media
1.85
-0.52
-21.94%
SCOR
comScore
7.11
0.02
0.28%
SEGG
SEGG Media
0.65
-9.75
-93.77%
KRKR
36Kr Holdings Inc
4.20
0.31
7.97%
BODI
Beachbody Company
11.61
4.07
53.98%
ONFO
Onfolio Holdings, Inc.
0.70
-0.38
-35.00%
Phoenix New Media Corporate Events
Phoenix New Media Reports Strong Q3 2025 Financial Results
Nov 12, 2025
Phoenix New Media Limited reported a 22.3% increase in total revenues for the third quarter of 2025, reaching RMB200.9 million, driven by significant growth in paid services and advertising revenues. Despite an increase in operating expenses, the ...
Phoenix New Media Secures New Program License Agreement with Phoenix TV
Nov 5, 2025
On November 5, 2025, Phoenix New Media Limited announced a new program license agreement with Phoenix Satellite Television Holdings Limited, effective from August 24, 2025, to August 23, 2027. This agreement updates and expands the licensed fields...
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.