Waterdrop Inc.

Waterdrop Inc.

WDH
Waterdrop Inc.US flagNew York Stock Exchange
1.12
USD
-0.03
- -
405.13MMarket Cap
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.74
4.7
9.42
10.72
7.14
6.98
7.59
11
12.37
Basic EPS, GAAP
-0.65
-1
-2.28
-5.26
1.55
0.44
1.01
1.57
1.55
Free Cash Flow per Basic Share
-0.68
-1.7
-2.5
-3.79
1.92
1.04
0.6
0.59
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
0.43
0.36
- -
Book Value per Share
- -
-2.28
-5.2
-11.15
-6.95
-6.8
-6.01
-4.5
-4.23
Tangible Book Value per Share
- -
-2.25
-5.33
13.09
12
11.73
12.71
13.54
13.76
Basic Weighted Avg Shares
322
322
322
299
392
377
365
362
361
Sales/Revenue/Turnover
238
1,511
3,028
3,206
2,802
2,631
2,772
3,978
4,466
Operating Margin (%)
-79.01
-12.87
-16.39
-58.11
17.06
-0.26
6.43
9.32
8.39
Depreciation Expense
2
7
13
18
23
14
12
14
- -
Net Income, GAAP
-209
-322
-664
-1,574
608
167
368
569
559
Effective Tax Rate (%)
- -
- -
- -
- -
3.64
0.34
2.69
- -
12.06
Profit Margin (%)
-87.84
-21.28
-21.92
-49.1
21.69
6.36
13.26
14.3
12.52
Working Capital
- -
1,587
3,261
3,784
4,569
4,057
3,153
2,088
2,349
LT Debt
- -
12
28
14
5
27
11
13
11
Total Equity
- -
1,502
3,180
3,973
4,766
4,678
4,874
5,152
5,226
Return on Invested Capital (%)
- -
- -
- -
- -
10.41
-0.14
3.48
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
73
58
284
LT Borrowings
- -
- -
- -
LT Finance Leases
12
13
11
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,609
3,609
3,593
Market Capitalization
4,868
4,805
4,035

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
3,765
3,981
4,826
Cash, Cash Equivalents & STI
1,449
1,014
896
Accounts Receivable, Net
833
1,260
1,822
Inventories
- -
- -
- -
Total Current Liabilities
1,451
1,892
2,477
Payables & Accruals
1,378
1,725
2,193
ST Debt
73
58
284
Deferred Revenue
- -
46
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
10.59%
5.71%
Free Cash Flow
- -
-43.97%
-2.08%
Net Income, GAAP
- -
20.12%
54.81%
Sales/Revenue/Turnover
- -
7.21%
43.51%
Total Cash Common Dividend
- -
- -
-17.81%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
705
676
704
687
2,772
2025
754
838
975
1,411
3,978
2026
1,242
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.22
0.24
0.27
0.29
1.01
2025
0.3
0.39
0.44
0.45
1.57
2026
0.27
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.43
2025
- -
- -
- -
- -
0.36
2026
- -
- -
- -
- -
- -

Company Description

APIChatGPT
CEO
Peng Shen
Full Time Employees
3,018
Sector
Financial Services
Industry
Insurance - Brokers
Address
Wangjing Science and Technology Park Beijing BJ People's Republic of China 100102
IPO Date
May 7, 2021
Business
Waterdrop Inc. is a leading technology platform specializing in insurance and healthcare services with a significant social impact, headquartered in Beijing, China, and founded in 2016. The company operates primarily through three core segments: the Waterdrop Insurance Marketplace, offering a broad range of over 174 inclusive insurance products including short-term and long-term life and health insurance; the Waterdrop Medical Crowdfunding platform, which facilitates emergency healthcare funding and has raised approximately RMB 70 billion from over 480 million donors benefiting millions of patients; and a digital clinical trial solutions segment collaborating with nearly 200 pharmaceutical companies and contract research organizations to support patient recruitment and clinical program management. Waterdrop leverages advanced artificial intelligence and big data analytics to tailor insurance products for specific demographics such as the elderly, expectant mothers, and chronic condition patients, enhancing underwriting precision and customer engagement. Recent major developments include the full acquisition of Shenlanbao to accelerate synergistic growth opportunities and the strategic partnership with DeepSeek to integrate large-scale AI models into its insurance ecosystem, improving operational efficiency, reducing costs by over 50%, and enhancing product innovation. The company has expanded its E-Find Platform to 198 pharmaceutical and contract research organizations and increased patient enrollment in clinical trials to historic highs. Waterdrop also authorized a fifth share repurchase program worth up to US$50 million and approved an enhanced cash dividend of US$10.9 million, reflecting robust financial performance with revenue growth of 23.9% year-over-year. Additionally, the medical crowdfunding platform now covers 92% of domestic cities with improved verification processes and operates 167 rural medical clinics serving over 500,000 beneficiaries. Waterdrop continues to focus on AI-driven insurance quality inspection solutions and has introduced innovative products such as the Million Medical Insurance with health declaration waivers and guaranteed renewal periods. The company targets domestic Chinese markets extensively with online insurance product distribution, digital healthcare funding, and clinical trial technologies, while maintaining a commitment to social welfare and sustainability through its healthcare initiatives and reduced greenhouse gas emissions. Waterdrop’s strategic integration of AI, broad insurance product catalog, extensive healthcare crowdfunding network, and digital clinical service expansion position it as a transformative player in the insurtech and healthtech industries within China and potentially beyond. It has continuously evolved its technology platform to increase insurance accessibility and healthcare service innovation since its founding.

Company News

APIChatGPT
  • Waterdrop Posts Strong Revenue Growth Amid Rising User Acquisition Costs

  • Waterdrop Inc. Announces Appointment of New Independent Director

  • Waterdrop Inc. (WDH) Q1 2026 Earnings Call Prepared Remarks Transcript

  • Waterdrop Q1 Earnings Call Highlights

  • Waterdrop Inc. Reports First Quarter 2026 Unaudited Financial Results, Q1 Net Revenue Up 64.8% Year-over-Year

  • Waterdrop Inc. Announces First Quarter 2026 Unaudited Financial Results

  • Waterdrop Inc. to Report First Quarter 2026 Financial Results on June 16, 2026

  • Waterdrop Inc. to Report First Quarter 2026 Financial Results on June 16, 2026

  • Waterdrop Files Annual Report on Form 20-F for Fiscal Year 2025

  • Waterdrop Q4 Earnings Call Highlights

  • Waterdrop Inc. (WDH) Q4 2025 Earnings Call Prepared Remarks Transcript

  • Waterdrop Q4 and FY2025 Financial Results: Q4 operating revenue rises 105.5% YoY, and declared a cash dividend

  • Waterdrop Inc. Announces Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results and Declares a Cash Dividend

  • Waterdrop Inc. to Report Fourth Quarter and Fiscal Year 2025 Financial Results on March 25, 2026

  • Best Dip Buys With 'Year Of The Fire Horse' Potential

  • Waterdrop: Profitable Growth Meets Deep Value In China's InsurTech

  • Ageas (OTCMKTS:AGESY) versus Waterdrop (NYSE:WDH) Head-To-Head Survey

  • Financial Survey: Acmat (OTCMKTS:ACMTA) & Waterdrop (NYSE:WDH)

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