AIFU vs WDH
Aifu Inc. and Waterdrop Inc., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | AIFU | WDH |
|---|---|---|
| Revenue | CNY 556.6M | CNY 4.0B |
| Net income | CNY -2.3B | CNY 568.9M |
| Gross margin | · | · |
| Net margin | −411.1% | 14.2% |
| Return on equity | −150.4% | 11.4% |
| Diluted EPS | · | CNY 0.15 |
| Dividend / share | · | · |
| Payout ratio | · | 22.9% |
| Free cash flow | CNY -19.6M | CNY 214.3M |
| Equity | CNY 478.5M | CNY 5.2B |
| Net debt / equity | 0.05× | −0.08× |
| Current ratio | 1.18× | 2.10× |
| Revenue CAGR 5y | −29.8% | 5.6% |
| Profit CAGR 5y | · | · |
WDH bills 7.1× the revenue of AIFU, and AIFU closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | AIFU | WDH |
|---|---|---|
| FY2025 | CNY 556.6M | CNY 4.0B |
| FY2024 | CNY 1.3B | CNY 2.8B |
| FY2023 | CNY 2.8B | CNY 2.6B |
| FY2022 | CNY 2.8B | CNY 2.8B |
| FY2021 | CNY 3.3B | CNY 3.2B |
| FY2020 | CNY 3.3B | CNY 3.0B |
| FY2019 | CNY 3.7B | CNY 1.5B |
Bottom line
| Fiscal year | AIFU | WDH |
|---|---|---|
| FY2025 | CNY -2.3B | CNY 568.9M |
| FY2024 | CNY 455.0M | CNY 367.5M |
| FY2023 | CNY 280.5M | CNY 167.2M |
| FY2022 | CNY 100.3M | CNY 607.7M |
| FY2021 | CNY 251.0M | CNY -1.6B |
| FY2020 | CNY 268.3M | CNY -663.9M |
| FY2019 | CNY 192.6M | CNY -321.5M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CNY 3,421,194,000 | WDH |
| FY2024 | −CNY 1,440,043,000 | WDH |
| FY2023 | +CNY 129,741,000 | AIFU |
| FY2022 | −CNY 20,154,000 | WDH |
| FY2021 | +CNY 65,200,000 | AIFU |
| FY2020 | +CNY 240,197,000 | AIFU |
| FY2019 | +CNY 2,195,038,000 | AIFU |
The higher-revenue side has changed between AIFU and WDH over this period. The gap has widened since the earliest year compared.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −425.3 pp | WDH |
| FY2024 | +10.7 pp | AIFU |
| FY2023 | +4.3 pp | AIFU |
| FY2022 | −18.6 pp | WDH |
| FY2021 | +57.1 pp | AIFU |
| FY2020 | +30.4 pp | AIFU |
| FY2019 | −16.1 pp | WDH |
The higher net margin has changed hands between AIFU and WDH over this period.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
AIFU's net margin has been more volatile than WDH's over the 7 comparable fiscal years — 147.4 percentage points of standard deviation against 24.5.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between AIFU and WDH over these 7 fiscal years — AIFU led in 4 and WDH in 3.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
AIFU's return on equity has been more volatile than WDH's over the 4 comparable fiscal years — 71.2 percentage points of standard deviation against 3.9.
4 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between AIFU and WDH over these 4 fiscal years — AIFU led in 2 and WDH in 2.
4 of 15 comparable fiscal years — a year missing data on either side is not counted.