WDH vs YB
Waterdrop Inc. and Yuanbao Inc., side by side — 3 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | WDH | YB |
|---|---|---|
| Revenue | CNY 4.0B | CNY 4.4B |
| Net income | CNY 568.9M | CNY 1.3B |
| Gross margin | — | 96.2% |
| Net margin | 14.2% | 29.9% |
| Return on equity | 11.4% | 152.7% |
| Diluted EPS | CNY 0.15 | CNY 4.57 |
| Dividend / share | — | — |
| Payout ratio | 22.9% | — |
| Free cash flow | CNY 214.3M | CNY 1.5B |
| Equity | CNY 5.2B | CNY 3.3B |
| Net debt / equity | −0.08× | — |
| Current ratio | 2.10× | 3.91× |
| Revenue CAGR 5y | 5.6% | — |
| Profit CAGR 5y | — | — |
WDH and YB book revenue within 15% of each other, and YB keeps more of each dollar of revenue as profit (29.9% against 14.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
Revenue by year
3 years side by side
| Fiscal year | WDH | YB |
|---|---|---|
| FY2025 | CNY 4.0B | CNY 4.4B |
| FY2024 | CNY 2.8B | CNY 3.3B |
| FY2023 | CNY 2.6B | CNY 2.0B |
Net income by year
Bottom line
| Fiscal year | WDH | YB |
|---|---|---|
| FY2025 | CNY 568.9M | CNY 1.3B |
| FY2024 | CNY 367.5M | CNY 865.8M |
| FY2023 | CNY 167.2M | CNY 203.1M |
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