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Sohu.com Ltd

SOHU Clue Score50
Cayman Islands Fiscal year ends December CIK 0001734107
$12.54 -1.57% Close, 12 Oct 2026
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Price $12.54 −42.40% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. 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 2016Revenue1,650.4Operating income−117.1Net income−224.0EPS, diluted−5.83Fiscal year 2017Revenue1,769.6 +7.2%Operating income−189.2Net income−554.5EPS, diluted−14.30Fiscal year 2018Revenue690.2 −61.0%Operating income−168.4Net income−160.1EPS, diluted−4.13Fiscal year 2019Revenue673.8 −2.4%Operating income−71.2Net income−149.3EPS, diluted−3.83Fiscal year 2020Revenue749.9 +11.3%Operating income73.4Net income−86.1EPS, diluted−2.19Fiscal year 2021Revenue835.6 +11.4%Operating income97.5Net income927.7EPS, diluted23.49Fiscal year 2022Revenue733.9 −12.2%Operating income−0.9Net income−17.3 −101.9%EPS, diluted−0.50 −102.1%Fiscal year 2023Revenue600.7 −18.2%Operating income−87.3Net income−30.4EPS, diluted−0.89Fiscal year 2024Revenue598.4 −0.4%Operating income−109.4Net income−100.3EPS, diluted−3.13Fiscal year 2025Revenue584.3 −2.4%Operating income−93.8Net income394.1EPS, diluted13.96
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,650.4 1,769.6 690.2 673.8 749.9 835.6 733.9 600.7 598.4 584.3
Growth +7.2% −61.0% −2.4% +11.3% +11.4% −12.2% −18.2% −0.4% −2.4%
Operating income −117.1 −189.2 −168.4 −71.2 73.4 97.5 −0.9 −87.3 −109.4 −93.8
Net income −224.0 −554.5 −160.1 −149.3 −86.1 927.7 −17.3 −30.4 −100.3 394.1
Growth −101.9%
EPS, diluted −5.83 −14.30 −4.13 −3.83 −2.19 23.49 −0.50 −0.89 −3.13 13.96
Growth −102.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin47.9%Operating margin−7.1%Net margin−13.6%Free cash flow margin8.2%Fiscal year 2017Gross margin46.3%Operating margin−10.7%Net margin−31.3%Free cash flow margin6.2%Fiscal year 2018Gross margin58.1%Operating margin−24.4%Net margin−23.2%Free cash flow margin8.5%Fiscal year 2019Gross margin63.8%Operating margin−10.6%Net margin−22.2%Free cash flow margin29.0%Fiscal year 2020Gross margin71.0%Operating margin9.8%Net margin−11.5%Free cash flow margin11.9%Fiscal year 2021Gross margin75.5%Operating margin11.7%Net margin111.0%Free cash flow margin−8.3%Fiscal year 2022Gross margin73.9%Operating margin−0.1%Net margin−2.4%Free cash flow margin3.2%Fiscal year 2023Gross margin75.7%Operating margin−14.5%Net margin−5.1%Free cash flow margin−4.8%Fiscal year 2024Gross margin72.3%Operating margin−18.3%Net margin−16.8%Free cash flow margin−8.2%Fiscal year 2025Gross margin77.5%Operating margin−16.1%Net margin67.4%Free cash flow margin−0.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 47.9% 46.3% 58.1% 63.8% 71.0% 75.5% 73.9% 75.7% 72.3% 77.5%
Operating margin −7.1% −10.7% −24.4% −10.6% 9.8% 11.7% −0.1% −14.5% −18.3% −16.1%
Net margin −13.6% −31.3% −23.2% −22.2% −11.5% 111.0% −2.4% −5.1% −16.8% 67.4%
Free cash flow margin 8.2% 6.2% 8.5% 29.0% 11.9% −8.3% 3.2% −4.8% −8.2% −0.9%

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 flow239.6Capital expenditure−105.1Free cash flow134.6Fiscal year 2017Operating cash flow187.7Capital expenditure−78.7Free cash flow109.0 −19.0%Fiscal year 2018Operating cash flow84.0Capital expenditure−25.2Free cash flow58.8 −46.0%Fiscal year 2019Operating cash flow210.6Capital expenditure−15.1Free cash flow195.5 +232.5%Buybacks0.0Fiscal year 2020Operating cash flow95.2Capital expenditure−6.3Free cash flow88.9 −54.5%Buybacks0.0Fiscal year 2021Operating cash flow−62.3Capital expenditure−6.7Free cash flow−69.0 −177.6%Buybacks−17.4Fiscal year 2022Operating cash flow32.2Capital expenditure−8.5Free cash flow23.7Buybacks−82.1Fiscal year 2023Operating cash flow−25.6Capital expenditure−3.2Free cash flow−28.8 −221.3%Buybacks−6.6Fiscal year 2024Operating cash flow−48.0Capital expenditure−1.3Free cash flow−49.3Buybacks−40.9Fiscal year 2025Operating cash flow−4.8Capital expenditure−0.6Free cash flow−5.3Buybacks−54.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 239.6 187.7 84.0 210.6 95.2 −62.3 32.2 −25.6 −48.0 −4.8
Capital expenditure −105.1 −78.7 −25.2 −15.1 −6.3 −6.7 −8.5 −3.2 −1.3 −0.6
Free cash flow 134.6 109.0 58.8 195.5 88.9 −69.0 23.7 −28.8 −49.3 −5.3
Growth −19.0% −46.0% +232.5% −54.5% −177.6% −221.3%
Buybacks n/a n/a n/a 0.0 0.0 −17.4 −82.1 −6.6 −40.9 −54.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash1,051.2Shareholders’ equity1,557.8Fiscal year 2017Cash1,364.1Shareholders’ equity750.6Fiscal year 2018Cash819.5Shareholders’ equity588.8Fiscal year 2019Cash162.7Shareholders’ equity428.5Fiscal year 2020Cash217.1Shareholders’ equity347.4Fiscal year 2021Cash998.9Shareholders’ equity1,290.9Fiscal year 2022Cash697.8Shareholders’ equity1,109.4Fiscal year 2023Cash362.5Shareholders’ equity1,059.0Fiscal year 2024Cash159.9Shareholders’ equity922.3Fiscal year 2025Cash128.3Shareholders’ equity1,277.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1,051.2 1,364.1 819.5 162.7 217.1 998.9 697.8 362.5 159.9 128.3
Shareholders’ equity 1,557.8 750.6 588.8 428.5 347.4 1,290.9 1,109.4 1,059.0 922.3 1,277.7

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

Financial statements FY2025 · 10-K

Cash flow

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
Operations
239.6 187.7 84.0 210.6 95.2 −62.3 32.2 −25.6 −48.0 −4.8
Growth −21.7% −55.2% +150.6% −54.8% −165.4% −179.3%
Investment
−105.1 −78.7 −25.2 −15.1 −6.3 −6.7 −8.5 −3.2 −1.3 −0.6
calc 134.6 109.0 58.8 195.5 88.9 −69.0 23.7 −28.8 −49.3 −5.3
Growth −19.0% −46.0% +232.5% −54.5% −177.6% −221.3%
calc 3.48 2.80 1.51 4.98 2.25 −1.75 0.68 −0.84 −1.54 −0.19
−411.7 −714.5 −459.2 −443.2 419.8 516.7 −232.8 −291.7 −113.4 24.8
Financing
−327.9 802.0 96.3 −513.2 93.6 −434.1 −82.1 −6.6 −40.9 −54.1
n/a n/a n/a 0.0 0.0 −17.4 −82.1 −6.6 −40.9 −54.1

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.