36Kr Holdings Inc (KRKR) AI Stock Analysis

• Market Cap: $7.86M
• Dividend Yield: N/A
• Average Volume (3M): 327.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.63
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 301
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): N/A
• Shares Outstanding: 1,778,607
• 10 Day Avg. Volume: 11,672
• 30 Day Avg. Volume: 327,049
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.33
• Price to Sales (P/S): 0.17
• P/FCF Ratio: -1.15
• Enterprise Value/Market Cap: 4.72
• Enterprise Value/Revenue: 0.11
• Enterprise Value/Gross Profit: 0.20
• Enterprise Value/Ebitda: -0.40
• 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: 49 Neutral
• Price Target: $4.50 ▲(6.64% Upside)
• Action: Reiterated Date: 01/31/26
• Date: Action: Reiterated 01/31/26

The score is primarily weighed down by weak financial performance (declining revenue, ongoing losses, and negative free cash flow). Technicals provide only limited support with a mild near-term improvement, while valuation remains unattractive due to negative earnings and no dividend yield data.

Positive Factors

Diversified revenue streams

A multi-pronged revenue model (ads, subscriptions, financial advisory) provides structural resilience versus single‑channel peers. Subscription and advisory fees tend to be more recurring and sticky, helping stabilize cash inflows and enabling cross-sell opportunities that support medium-term revenue durability.

Leading platform position in China

As a recognized technology-driven media and investment platform focused on entrepreneurs and investors, 36Kr benefits from network effects and concentrated industry expertise. Its position as a go-to information and services hub supports long-term audience stickiness and strategic partnerships that underpin sustainable service demand.

Manageable leverage and decent equity ratio

A moderate debt profile and a relatively strong equity ratio provide financial flexibility to fund operations or strategic initiatives without immediate solvency pressure. This balance sheet steadiness reduces refinancing risk and gives management runway to address operating challenges over the next several months.

Negative Factors

Sustained revenue decline

Multi‑year revenue contraction erodes scale and market momentum. Persistent top-line decline weakens operating leverage, reduces available resources for product and content investment, and makes restoring growth more difficult absent new structural initiatives or material market share gains.

Ongoing operating losses and negative margins

Continued negative profitability signals structural cost or monetization issues. Without sustainable positive EBIT/EBITDA, the company cannot rely on internal earnings to reinvest, increasing dependence on external capital and limiting its ability to scale profitably over the medium term.

Consistently negative free cash flow and poor cash conversion

Persistent negative free cash flow and weak cash conversion constrain strategic flexibility and necessitate external funding to maintain operations or pursue growth. This pressure can force dilutive financing or cutbacks, undermining long-term investment in product, content, and partnerships.

36Kr Holdings Inc Business Overview & Revenue Model

Company Description

36Kr Holdings Inc. provides content and business services in the People's Republic of China. It creates and distributes various content, including insightful reports on companies and timely market updates, as well as editorials and commentaries in various industries, such as technology, consumer and retail, and healthcare. The company's business services include online advertising services; enterprise value-added services, such as integrated marketing, advertisement agent, offline events, and consulting services; and subscription services to individuals, institutional investors, and enterprises. 36Kr Holdings Inc. was founded in 2010 and is based in Beijing, the People's Republic of China.

How the Company Makes Money

36Kr Holdings generates revenue through multiple streams, primarily from advertising services, subscription fees, and financial services. The advertising revenue is derived from online ads placed on its media platform, targeting businesses interested in reaching a tech-savvy audience. Subscription services provide premium content and tools for investors and entrepreneurs, allowing them to access in-depth analysis and insights. Additionally, the company earns fees from providing financial advisory and consulting services to startups, helping them navigate the complexities of fundraising and market entry. Strategic partnerships with venture capital firms and technology companies also bolster its revenue by enhancing service offerings and expanding its audience reach.

36Kr Holdings Inc Financial Statement Overview

Summary

Financial statements indicate sustained pressure: declining revenue, persistent losses with negative EBIT/EBITDA margins, and consistently negative free cash flow. The balance sheet is comparatively steadier with manageable leverage and a decent equity ratio, but negative ROE underscores weak profitability.

Income Statement

36Kr Holdings Inc has shown a consistent decline in revenue over the past several years, with a negative net profit margin indicating ongoing losses. Gross profit margin remains relatively stable, but the company has failed to achieve positive EBIT or EBITDA margins, highlighting operational challenges and inefficiencies in cost management. The revenue growth rate is negative, reflecting a concerning downward trend in sales performance.

Balance Sheet

The company maintains a moderate debt-to-equity ratio, suggesting manageable leverage levels. Despite a reduction in stockholders' equity over the years, the equity ratio remains relatively strong, indicating a decent degree of financial stability. However, the negative return on equity highlights the company's inability to generate profits from shareholders' investments, posing a risk to long-term financial health.

Cash Flow

Cash flow analysis reveals a challenging scenario with consistently negative free cash flow, indicating the company is not generating enough cash to cover its capital expenditures. The operating cash flow to net income ratio is negative, reflecting poor cash conversion from operations. Despite some improvement in free cash flow in recent years, the overall trajectory remains concerning.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Mar 2021
Income Statement
Total Revenue	340.19M	231.07M	340.19M	322.50M	316.78M	386.76M
Gross Profit	182.02M	112.34M	182.02M	184.65M	187.94M	125.39M
EBITDA	-91.82M	-67.12M	-79.83M	-25.56M	-72.66M	-250.22M
Net Income	-90.64M	-136.63M	-89.98M	21.94M	-89.57M	-279.34M
Balance Sheet
Total Assets	458.97M	276.19M	458.97M	571.37M	501.74M	578.53M
Cash, Cash Equivalents and Short-Term Investments	116.96M	91.71M	116.96M	184.78M	216.10M	209.19M
Total Debt	45.73M	29.60M	45.73M	56.34M	21.89M	27.56M
Total Liabilities	197.11M	157.94M	197.11M	225.99M	194.47M	189.56M
Stockholders Equity	251.98M	118.01M	251.98M	338.11M	299.40M	380.82M
Cash Flow
Free Cash Flow	253.37K	-33.48M	-127.56M	-6.64M	192.78M	-19.48M
Operating Cash Flow	253.37K	-32.99M	-122.16M	-4.99M	194.96M	-17.13M
Investing Cash Flow	0.00	32.48M	20.17M	43.31M	-158.00M	-64.29M
Financing Cash Flow	0.00	-3.61M	481.00K	5.12M	-23.00K	-32.84M

36Kr Holdings Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRKR, the sentiment is Negative. The current price of 4.22 is below the 20-day moving average (MA) of 4.30, below the 50-day MA of 4.41, and below the 200-day MA of 5.42, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 37.68 is Neutral, neither overbought nor oversold. The STOCH value of 21.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KRKR.

36Kr Holdings Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OPRA	67 Neutral	$1.10B	13.45	8.73%	5.47%	30.00%	-9.72%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
KRKR	49 Neutral	$7.86M	-1.24	-35.00%	―	―	―
ZH	49 Neutral	$294.04M	21.26	2.39%	―	-23.61%	―
SEAT	46 Neutral	$108.44M	-0.30	-51.54%	―	-16.83%	-485.31%
DOYU	41 Neutral	$165.08M	-6.04	-6.03%	―	-8.99%	-4.10%