Flags

Financial distress

The9

NAQ:NCTY · US88337K4013

SoftwareSmall

360

Medium confidence — indicative

Value35

Profit price63

Cash yield1

Owner Earnings Yield1

Dividend Yield1

Sales & asset price22

Price/Sales36

EV / Gross Profit3

Price/Book28

Quality29

Returns on capital11

Return on Capital9

Cash Return on Capital13

Return on Equity10

Profit margins1

EBIT Margin1

Gross Profitability1

Cash backing51

Accruals97

Owner Earnings Margin4

Growth—

Sales growth96

Profit growth93

Reinvestment78

Price momentum4

Safety35

Debt load17

Debt serviceability47

Refinancing92

Debt Payback1

Liquidity1

Sentiment43

Analyst ratings—

Expectations trend—

Market mood1

Value Creation7/20creating some value

Creates more value than its capital costs
Owner earnings growing
Owner earnings per share growing
Reinvests at strong returns
Solid earnings base

What this means

The9 clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 3/5 components.

Profile

CountryChina

IndustrySoftware

SizeSmall

TypePublic Company

ExchangeNASDAQCM

Founded1999

Employees39

Websitethe9.com

ISINUS88337K4013

Last UpdateApr 2, 2026

Indices

NASDAQ (USA)

Themes

Video GamesCryptocurrencyVirtual CurrencyData Centers and FacilitiesMining TechnologyDeveloper PlatformGamingInternet

Description

The9 Limited operates as a cryptocurrency mining business. The company provides computing power, or hash rate, to a Bitcoin mining pool and it is entitled to receive a fractional share of Bitcoin award from the Bitcoin mining pool in return. The co…

Analysis

Weak and unloved

The9 Limited is weak and unloved: below-average business metrics and a price that reflects that disappointment.

Valuation data is not available for this company.

The trajectory is mixed and the balance sheet is stretched. The company scores 7/20 on our value-creation score: creating some value.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250

2026

All-time high

Jun 2026

All-time low

Jun 2026

Average rank

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023

Price/Sales

—

Price/Earnings

—

Price/Book

—

Dividend Yield

—

Value (overall)

—

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View

1 · Watch OutGood· 100

Value

1 · ExpensiveGood Value· 100

Quality

1 · Weak FundamentalsHigh Quality· 100

Growth

1 · Tough TimesHigh Growth· 100

Safety

1 · High LeverageWell-Financed· 100

Sentiment

1 · SkepticismPositive· 100

Learn More →