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J & Friends Holdings Ltd

JF Clue Score37
Cayman Islands Fiscal year ends December CIK 0001716338
$0.94 -1.95% Close, 13 Oct 2026
Alert on the numbers Alert on insider trades
Price $0.94 −17.97% Close, 13 Oct 2026

Closing prices at the end of each trading day, from 25 Oct 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue54.9Operating income−201.0Net income−200.5Fiscal year 2017Revenue763.0 +1,290.5%Operating income−53.6Net income−84.9Fiscal year 2018Revenue1,603.6 +110.2%Operating income11.3Net income2.2Fiscal year 2019Revenue1,285.2 −19.9%Operating income−728.4Net income−905.9 −41,827.1%Fiscal year 2020Revenue378.3 −70.6%Operating income−206.8Net income−293.9EPS, diluted−0.99Fiscal year 2021Revenue173.2 −54.2%Operating income−71.3Net income−101.7EPS, diluted−0.34Fiscal year 2022Revenue74.6 −57.0%Operating income−81.5Net income−190.2EPS, diluted−0.63Fiscal year 2023Revenue52.7 −29.3%Operating income−41.7Net income−78.8EPS, diluted−0.16Fiscal year 2024Revenue35.1 −33.3%Operating income−14.1Net income−15.5EPS, diluted−0.03Fiscal year 2025Revenue1.6 −95.5%EPS, diluted−0.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 54.9 763.0 1,603.6 1,285.2 378.3 173.2 74.6 52.7 35.1 1.6
Growth +1,290.5% +110.2% −19.9% −70.6% −54.2% −57.0% −29.3% −33.3% −95.5%
Operating income −201.0 −53.6 11.3 −728.4 −206.8 −71.3 −81.5 −41.7 −14.1 n/a
Net income −200.5 −84.9 2.2 −905.9 −293.9 −101.7 −190.2 −78.8 −15.5 n/a
Growth −41,827.1%
EPS, diluted n/a n/a n/a n/a −0.99 −0.34 −0.63 −0.16 −0.03 −0.00

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin−9.1%Operating margin−366.3%Net margin−365.4%Fiscal year 2017Gross margin25.7%Operating margin−7.0%Net margin−11.1%Free cash flow margin21.2%Fiscal year 2018Gross margin32.4%Operating margin0.7%Net margin0.1%Fiscal year 2019Gross margin40.1%Operating margin−56.7%Net margin−70.5%Fiscal year 2020Gross margin24.5%Operating margin−54.7%Net margin−77.7%Fiscal year 2021Gross margin48.2%Operating margin−41.2%Net margin−58.7%Fiscal year 2022Gross margin15.9%Operating margin−109.3%Net margin−255.0%Fiscal year 2023Gross margin27.6%Operating margin−79.1%Net margin−149.4%Fiscal year 2024Gross margin63.5%Operating margin−40.1%Net margin−44.0%Fiscal year 2025
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin −9.1% 25.7% 32.4% 40.1% 24.5% 48.2% 15.9% 27.6% 63.5% n/a
Operating margin −366.3% −7.0% 0.7% −56.7% −54.7% −41.2% −109.3% −79.1% −40.1% n/a
Net margin −365.4% −11.1% 0.1% −70.5% −77.7% −58.7% −255.0% −149.4% −44.0% n/a
Free cash flow margin n/a 21.2% n/a n/a n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−123.1Fiscal year 2017Operating cash flow164.9Capital expenditure−2.8Free cash flow162.0Fiscal year 2018Operating cash flow231.9Fiscal year 2019Operating cash flow175.1Fiscal year 2020Operating cash flow57.0Fiscal year 2021Operating cash flow−32.2Fiscal year 2022Operating cash flow−10.5Fiscal year 2023Operating cash flow8.6Fiscal year 2024Operating cash flow−14.9Fiscal year 2025Operating cash flow−0.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −123.1 164.9 231.9 175.1 57.0 −32.2 −10.5 8.6 −14.9 −0.9
Capital expenditure n/a −2.8 n/a n/a n/a n/a n/a n/a n/a n/a
Free cash flow n/a 162.0 n/a n/a n/a n/a n/a n/a n/a n/a
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash and securitiesTotal debt
Fiscal year 2016Cash and securities53.0Shareholders’ equity−9.2Fiscal year 2017Cash and securities372.9Total debt469.7Net cash (debt)−96.8Shareholders’ equity−62.2Fiscal year 2018Cash and securities457.4Total debt241.5Net cash (debt)215.9Shareholders’ equity1,057.3Debt to equity0.23Fiscal year 2019Cash and securities102.8Total debt331.5Net cash (debt)−228.7Shareholders’ equity189.5Debt to equity1.75Fiscal year 2020Cash and securities217.9Total debt130.0Net cash (debt)87.9Shareholders’ equity−118.9Fiscal year 2021Cash and securities217.9Total debt0.0Net cash (debt)217.9Shareholders’ equity−224.9Fiscal year 2022Cash and securities250.7Shareholders’ equity−402.0Fiscal year 2023Cash and securities40.5Shareholders’ equity−393.0Fiscal year 2024Cash and securities27.0Total debt1.8Net cash (debt)25.1Shareholders’ equity−408.9Fiscal year 2025Total debt1.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and securities 53.0 372.9 457.4 102.8 217.9 217.9 250.7 40.5 27.0 n/a
Total debt n/a 469.7 241.5 331.5 130.0 0.0 n/a n/a 1.8 1.8
Net cash (debt) n/a −96.8 215.9 −228.7 87.9 217.9 n/a n/a 25.1 n/a
Shareholders’ equity −9.2 −62.2 1,057.3 189.5 −118.9 −224.9 −402.0 −393.0 −408.9 n/a
Debt to equity n/a n/a 0.23 1.75 n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018† 31 Dec 2018 FY2019† 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023† 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
54.9 763.0 1,603.6 1,285.2 378.3 173.2 74.6 52.7 35.1 1.6
Growth +1,290.5% +110.2% −19.9% −70.6% −54.2% −57.0% −29.3% −33.3% −95.5%
59.9 566.7 1,084.7 769.7 285.8 89.7 62.7 38.2 12.8 n/a
−5.0 196.3 518.9 515.5 92.5 83.5 11.9 14.5 22.3 n/a
Growth +164.3% −0.6% −82.1% −9.7% −85.8% +22.3% +53.5%
51.2 71.5 95.0 79.1 37.5 22.7 16.0 0.1 2.3 n/a
72.8 106.3 313.0 1,095.3 147.8 88.1 50.3 22.7 13.8 n/a
−201.0 −53.6 11.3 −728.4 −206.8 −71.3 −81.5 −41.7 −14.1 n/a
Growth −6,568.1%
−200.3 −66.3 7.9 −904.5 −246.9 −101.9 −194.0 −95.2 −14.1 n/a
0.2 18.5 5.7 2.0 49.2 6.9 2.5 −13.9 0.7 n/a
−200.5 −84.9 2.2 −905.9 −293.9 −101.7 −190.2 −78.8 −15.5 n/a
Growth −41,827.1%
Per share
n/a n/a n/a n/a −0.99 −0.34 −0.63 −0.16 −0.03 −0.00
n/a n/a n/a n/a −0.99 −0.34 −0.63 −0.16 −0.03 −0.00
Growth
n/a 62.8 101.1 282.1 297.3 299.7 300.1 494.7 554.7 582.0
n/a 62.8 101.1 282.1 297.3 299.7 300.1 494.7 554.7 582.0
Growth +5.4% +0.8% +0.1% +12.1% +4.9%

† The diluted share count jumps at 2018 and 2019 and 2023, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 66.5% a year over five years.
  • A net loss in 8 of 9 years on file.