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The9 Ltd operates a cryptocurrency mining business. It provides computing power, or hash rate, to a Bitcoin mining pool and is entitled to receive a fractional share of Bitcoin award from the Bitcoin mining pool in return. The company generates its revenues from customers in Greater China and other areas.
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The9 has a last 12-month revenue of n/a and a last 12-month EBITDA of n/a.
In the most recent fiscal year, The9 achieved revenue of $179M and an EBITDA of -$26.0M.
The9 expects next 12-month revenue of XXX and NTM EBITDA of XXX
See The9 valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $119M | $179M | XXX | XXX | XXX |
| Gross Profit | $47.8M | -$65.7M | XXX | XXX | XXX |
| Gross Margin | 40% | -37% | XXX | XXX | XXX |
| EBITDA | -$865M | -$26.0M | XXX | XXX | XXX |
| EBITDA Margin | -727% | -15% | XXX | XXX | XXX |
| Net Profit | -$411M | -$975M | XXX | XXX | XXX |
| Net Margin | -346% | -544% | XXX | XXX | XXX |
| Net Debt | n/a | $2.9M | XXX | XXX | XXX |
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As of April 15, 2025, The9's stock price is $10.
The9 has current market cap of $97.1M, and EV of $112M.
See The9 trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $112M | $97.1M | XXX | XXX | XXX | XXX | n/a |
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Sign UpAs of April 15, 2025, The9 has market cap of $97.1M and EV of $112M.
The9's trades at n/a LTM EV/Revenue multiple, and n/a LTM EBITDA.
Analysts estimate The9's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for The9 and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $112M | XXX | XXX | XXX |
| EV/Revenue | 0.6x | XXX | XXX | XXX |
| EV/EBITDA | -4.3x | XXX | XXX | XXX |
| P/E | 4.9x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -2.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpThe9's NTM/LTM revenue growth is n/a
The9's revenue per employee for the last fiscal year averaged $3.6M, while opex per employee averaged $4.1M for the same period.
Over next 12 months, The9's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate The9's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for The9 and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 51% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -15% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -97% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | n/a | XXX | XXX | XXX | XXX |
| Revenue per Employee | $3.6M | XXX | XXX | XXX | XXX |
| Opex per Employee | $4.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 113% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 115% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Phoenix Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Jasmine Technology Solution | XXX | XXX | XXX | XXX | XXX | XXX |
| Advanced Blockchain | XXX | XXX | XXX | XXX | XXX | XXX |
| Bitcoin Group | XXX | XXX | XXX | XXX | XXX | XXX |
| AEE Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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The9 acquired XXX companies to date.
Last acquisition by The9 was XXXXXXXX, XXXXX XXXXX XXXXXX . The9 acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was The9 founded? | The9 was founded in 1999. |
| Where is The9 headquartered? | The9 is headquartered in United States of America. |
| How many employees does The9 have? | As of today, The9 has 50 employees. |
| Who is the CEO of The9? | The9's CEO is Mr. Jun Zhu. |
| Is The9 publicy listed? | Yes, The9 is a public company listed on NAS. |
| What is the stock symbol of The9? | The9 trades under NCTY ticker. |
| When did The9 go public? | The9 went public in 2004. |
| Who are competitors of The9? | Similar companies to The9 include e.g. Phoenix Group, Jasmine Technology Solution, Advanced Blockchain, Bitcoin Group. |
| What is the current market cap of The9? | The9's current market cap is $97.1M |
| What is the current revenue growth of The9? | The9 revenue growth between 2023 and 2024 was 51%. |
| Is The9 profitable? | Yes, The9 is EBITDA-positive (as of the last 12 months). |
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