Mogu (MOGU) AI Stock Analysis

• Market Cap: $18.39M
• Dividend Yield: N/A
• Average Volume (3M): 2.47M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.47
• Revenue Growth: -12.53%
• EPS Growth: -3.24%
• Country: US
• Employees: 347
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): N/A
• Shares Outstanding: 7,162,861
• 10 Day Avg. Volume: 16,482
• 30 Day Avg. Volume: 2,470,702
• PEG Ratio: -0.15
• Price to Book (P/B): 0.25
• Price to Sales (P/S): 0.91
• P/FCF Ratio: -1.65
• Enterprise Value/Market Cap: 3.26
• Enterprise Value/Revenue: 0.42
• Enterprise Value/Gross Profit: 1.06
• Enterprise Value/Ebitda: -0.84
• 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: 47 Neutral
• Price Target: $2.50 ▲(11.11% Upside)

The score is held down primarily by persistent operating losses and worsening cash burn, indicating the business is not yet self-funding. Technicals add pressure with the stock below key moving averages and negative MACD, while the low-debt balance sheet is a meaningful stabilizer but not enough to offset weak profitability and cash flow. Negative P/E further reflects ongoing losses.

Positive Factors

Low Leverage

Low leverage provides Mogu with financial flexibility, reducing interest burden and risk of insolvency, which is beneficial for long-term stability.

Solid Capital Structure

A solid capital structure with a high equity ratio supports long-term sustainability, allowing Mogu to potentially weather financial challenges better.

Engaging Platform Features

The integration of interactive features enhances user engagement and could drive long-term growth by attracting a diverse customer base.

Negative Factors

Declining Revenue

Consistent revenue decline indicates challenges in market competitiveness and demand, threatening long-term business viability and growth prospects.

Negative Profitability

Persistent negative profitability undermines Mogu's ability to generate earnings, impacting reinvestment capacity and shareholder value over time.

Cash Burn Issues

Significant cash burn poses liquidity risks, limiting Mogu's ability to invest in growth initiatives and manage operational expenses effectively.

Mogu Business Overview & Revenue Model

Company Description

MOGU Inc., through its subsidiaries, operates an online fashion and lifestyle platform in the People's Republic of China. The company offers fashion apparel and other lifestyle products, including beauty products and accessories provided by third party merchants, as well as personal care, beauty makeup, food, medical beauty, healthcare, and grocery products; and household supplies. It also provides online marketing, commission, financing, technology, and other services to merchants and users; and technology services to brand owners. The company offers its products through mobile applications, including flagship Mogujie app and mini programs on Weixin; and websites comprising Mogu.com, Mogujie.com, and Meilishuo.com. The company was formerly known as Meili Inc. and changed its name to MOGU Inc. in November 2018. MOGU Inc. was incorporated in 2011 and is headquartered in Hangzhou, the People's Republic of China.

How the Company Makes Money

Mogu primarily generates revenue through a commission-based model, charging a percentage fee on sales made by merchants through its platform. Additionally, Mogu earns income from advertising services, where brands and sellers pay for promotional placements and marketing campaigns to reach a broader audience. The company also benefits from its live streaming commerce, where influencers and hosts promote products in real-time, driving sales and engagement. Strategic partnerships with fashion brands and technology companies further enhance its platform capabilities and revenue potential.

Mogu Financial Statement Overview

Summary

Overall fundamentals are weak: income statement shows structurally declining revenue over the multi-year period with continued large operating and net losses, and cash flow remains meaningfully negative with worsening operating cash burn and negative free cash flow. The key offset is a relatively strong balance sheet with very low leverage, providing some financial flexibility despite ongoing erosion from losses.

Income Statement

Revenue has been highly volatile and structurally down over the period (from 835.3M in 2020 to 141.2M in 2025), despite a rebound in 2025 (up ~83.5% year over year). Profitability remains weak: gross margin is still decent (~40% in 2025) but has compressed versus prior years, and the company continues to generate large operating losses (2025 operating margin about -40%) and net losses (2025 net margin about -44%). While losses have narrowed materially from the extreme 2022 level, the core issue is that the business has not returned to sustainable operating profitability.

Balance Sheet

The balance sheet is a relative strength due to very low leverage (debt-to-equity roughly 0.2% in 2025; total debt under 1.0M) and a sizable equity base (~509.0M in 2025). However, equity and total assets have trended down materially since 2020–2021, reflecting ongoing losses and contraction, and returns on equity remain negative (about -12% in 2025). Overall, the company has financial flexibility from low debt, but persistent losses are eroding the balance sheet over time.

Cash Flow

Cash generation is weak with continued cash burn: operating cash flow is negative across all periods and worsened in 2025 (about -67.9M versus -40.5M in 2024). Free cash flow is also negative and deteriorated in 2025 (about -78.0M), indicating ongoing funding needs if trends persist. A partial positive is that free cash flow loss is smaller than the net loss in 2025 (free cash flow to net income ~1.15), but the business is still not self-funding.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	141.23M	141.23M	160.34M	232.08M	337.47M	482.39M
Gross Profit	56.47M	56.47M	69.15M	118.19M	177.87M	299.28M
EBITDA	-71.64M	-43.69M	-51.42M	-114.76M	-322.80M	-84.84M
Net Income	-62.56M	-62.56M	-59.28M	-177.98M	-639.80M	-328.01M
Balance Sheet
Total Assets	858.23M	858.23M	938.36M	1.01B	1.17B	1.84B
Cash, Cash Equivalents and Short-Term Investments	379.59M	379.59M	420.10M	562.04M	635.46M	802.32M
Total Debt	972.00K	972.00K	2.66M	3.41M	10.06M	0.00
Total Liabilities	321.23M	321.23M	323.91M	339.79M	334.82M	384.96M
Stockholders Equity	508.95M	508.95M	588.39M	644.04M	789.74M	1.45B
Cash Flow
Free Cash Flow	-78.00M	-78.00M	-134.62M	-65.64M	-169.55M	-230.58M
Operating Cash Flow	-67.92M	-67.92M	-40.46M	-10.09M	-114.41M	-77.93M
Investing Cash Flow	-207.93M	-207.93M	-19.77M	608.00K	13.95M	-96.66M
Financing Cash Flow	-822.00K	-822.00K	0.00	-12.06M	450.00K	-119.25M

Mogu Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.25
• 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 MOGU, the sentiment is Negative. The current price of 2.25 is below the 20-day moving average (MA) of 2.38, below the 50-day MA of 2.56, and below the 200-day MA of 2.54, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 41.02 is Neutral, neither overbought nor oversold. The STOCH value of 40.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MOGU.

Mogu Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
LITB	54 Neutral	$49.47M	8.81	―	―	-34.42%	―
JWEL	54 Neutral	$4.67M	-0.85	―	―	-16.89%	31.24%
MOGU	47 Neutral	$18.39M	-2.28	-11.43%	―	-12.53%	-3.24%
WNW	44 Neutral	$24.25M	0.14	12.11%	―	570.49%	―
NVVE	42 Neutral	$5.52M	-0.30	-3734.39%	―	-9.58%	86.27%
FTEL	42 Neutral	$4.29M	-0.71	-7.50%	―	16.42%	93.67%

Mogu Corporate Events

MOGU Invests RMB 0.1 Billion in AI Infrastructure Firm to Bolster Tech Capabilities

On December 24, 2025, MOGU Inc.’s indirect wholly owned subsidiary, Hangzhou Shiqu Information and Technology Co., Ltd., entered into a share transfer agreement to acquire under 1% of the registered capital of a China-based AI infrastructure technology company for RMB 0.1 billion (about US$14.2 million. The deal, which includes customary representations, warranties and indemnification terms, signals MOGU’s push into AI infrastructure capabilities, suggesting a strategic move to bolster its technology backbone and potentially enhance its KOL-driven e-commerce platform with more advanced AI tools, with implications for its competitiveness and long-term positioning in China’s online fashion and lifestyle market.

MOGU Inc. Appoints New Auditor Amid Internal Control Concerns

On November 13, 2025, MOGU Inc. announced the dismissal of PricewaterhouseCoopers Zhong Tian LLP as its auditor and appointed Marcum Asia CPAs LLP as the successor. This change, approved by the company’s Audit Committee, follows the identification of material weaknesses in MOGU’s internal control over financial reporting, though no disagreements with the former auditor were reported. The transition is expected to address these weaknesses, potentially impacting MOGU’s financial reporting and stakeholder confidence.