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Cheetah Mobile
(NYSE:CMCM)
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Rating:52Neutral
Price Target:
$3.50
▲(15.51% Upside)
Action:Reiterated
Date:09/12/26
The score is held back primarily by persistent losses and recent cash-flow burn despite improving revenue growth and strong gross margins, with technicals only modestly supportive (short-term strength but longer-term downtrend). Earnings-call commentary adds some upside via strong cloud/AI and robotics growth outlook and a sizable cash position, but widening operating losses and advertising weakness keep the overall profile mid-range.
Positive Factors
Cloud and AI infrastructure growth
Rapid cloud and AI infrastructure growth is building a larger enterprise-oriented revenue stream beyond the legacy advertising model. Management’s billings outlook and expanding service capabilities suggest this segment could become an increasingly durable growth engine over the next several quarters.
Negative Factors
Severe online advertising decline
The sharp advertising contraction weakens the company’s historical monetization engine and demonstrates that legacy internet revenue is under structural pressure. Continued decline would make the shift to newer businesses more urgent and could reduce the cash available to support investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Cloud and AI infrastructure growth
Rapid cloud and AI infrastructure growth is building a larger enterprise-oriented revenue stream beyond the legacy advertising model. Management’s billings outlook and expanding service capabilities suggest this segment could become an increasingly durable growth engine over the next several quarters.
Read all positive factors
Cheetah Mobile Key Performance Indicators (KPIs)
Any
Revenue By Segment
Analyzes income from different business areas, highlighting which segments drive growth and profitability, and where the company might need to adjust strategy.
Analyzes income from different business areas, highlighting which segments drive growth and profitability, and where the company might need to adjust strategy.
Data provided by:
The Fly
The FlyCheetah Mobile (CMCM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$87.78M
Dividend Yield89.81%
Average Volume (3M)8.01K
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth17.64%
EPS Growth32.94%
CountryUS
Employees851
SectorCommunication Services
Sector Strength97
IndustrySoftware - Application
Share Statistics
EPS (TTM)-511.00
Shares Outstanding10,224,887
10 Day Avg. Volume13,471
30 Day Avg. Volume8,010
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.02
Price to Sales (P/S)0.02
P/FCF Ratio-0.14
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.09
Revenue Forecast (FY)$1.42B
Cheetah Mobile Business Overview & Revenue Model
Company Description
Cheetah Mobile Inc., a global internet firm with operations spanning China, the U.S., Japan, and other international regions, was incorporated in 2009 and is headquartered in Beijing, People's Republic of China. The company rebranded to its curren...
How the Company Makes Money
CMCM has primarily generated revenue from advertising and related internet services tied to its mobile applications. The company’s main monetization model has been to acquire large user bases for its consumer apps and then monetize user engagement...
Cheetah Mobile Earnings Call Summary
Earnings Call Date:Sep 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 25, 2026
Earnings Call Sentiment Positive
The call was broadly positive, driven by rapid growth in cloud and AI infrastructure, strong robotics revenue growth, the launch of smart mobility products, improved Internet-services margins and a substantial cash position. The main negatives were the sharp decline in advertising agency revenue, wider company-level operating losses, lower Internet and Global Enterprise Services revenue, and continued investment-stage losses in robotics. Management nevertheless emphasized ongoing business-mix improvement, enterprise AI demand and a path toward better robotics economics.Positive Updates
Total Revenue Returned to Sequential Growth
Second-quarter total revenue was RMB 766.1 million, representing an increase of 2.7% quarter-over-quarter and 9.9% year-over-year as stated in the overall performance discussion.
Negative Updates
Advertising Agency Revenue Decline
Advertising agency services revenue decreased 17% year-over-year and 15.0% quarter-over-quarter to RMB 22.0 million, mainly due to review-policy changes implemented by a major global advertising platform. Its contribution to total revenue declined to 8% from 25% in the same period last year.
Read all updates
Q2-2026 Updates
Positive
Negative
Total Revenue Returned to Sequential Growth
Second-quarter total revenue was RMB 766.1 million, representing an increase of 2.7% quarter-over-quarter and 9.9% year-over-year as stated in the overall performance discussion.
Read all positive updates
Company Guidance
Management expects gross billings from services of cloud and AI infrastructure to exceed RMB 2 billion in 2026, representing year-over-year growth of over 100%, and expects related revenue to exceed RMB 200 million, representing year-over-year growth of over [ 59% ]; smart mobility products weighing less than 16 kilograms can operate for approximately 10 hours under specified conditions, and the company plans to turn early progress into more shipments, more customers, and repeat business, move Robotics and others toward breakeven, keep Internet and Global Enterprise Services profitable and efficient on an adjusted operating basis, and continue improving the economics of Robotics and others, while noting that single quarter profit “may not take long” but is not the current priority.Cheetah Mobile Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.12B | 1.15B | 806.88M | 669.50M | 884.07M | 784.62M |
| Gross Profit | 754.93M | 834.03M | 545.20M | 437.56M | 631.50M | 526.96M |
| EBITDA | -14.93M | 9.36M | -232.91M | -174.57M | -172.57M | -178.75M |
| Net Income | -314.10M | -257.71M | -617.56M | -602.90M | -513.48M | -351.13M |
Balance Sheet | ||||||
| Total Assets | 4.64B | 4.68B | 5.50B | 5.63B | 5.14B | 4.98B |
| Cash, Cash Equivalents and Short-Term Investments | 1.27B | 1.52B | 1.83B | 2.02B | 1.67B | 1.85B |
| Total Debt | 2.90M | 15.24M | 74.80M | 35.99M | 41.47M | 48.13M |
| Total Liabilities | 2.84B | 2.73B | 3.30B | 2.97B | 2.03B | 1.62B |
| Stockholders Equity | 1.43B | 1.61B | 1.90B | 2.46B | 3.03B | 3.28B |
Cash Flow | ||||||
| Free Cash Flow | -185.10M | -185.10M | -261.15M | 540.78M | -431.03M | 55.99M |
| Operating Cash Flow | -172.26M | -172.26M | -238.32M | 550.46M | -424.25M | 102.81M |
| Investing Cash Flow | -65.57M | -65.57M | -34.09M | -49.06M | 189.05M | 220.84M |
| Financing Cash Flow | -64.22M | -64.22M | 69.11M | -6.78M | -4.87M | -9.64M |
Cheetah Mobile Technical Analysis
Negative
3.03
Price Trends
3.08
Negative
3.68
Negative
5.01
Negative
Market Momentum
-0.04
Positive
37.99
Neutral
2.21
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMCM, the sentiment is Negative. The current price of 3.03 is below the 20-day moving average (MA) of 3.16, below the 50-day MA of 3.08, and below the 200-day MA of 5.01, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 37.99 is Neutral, neither overbought nor oversold. The STOCH value of 2.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CMCM.
Cheetah Mobile Risk Analysis
Cheetah Mobile disclosed 86 risk factors in its most recent earnings report. Cheetah Mobile reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
If our expansion into new businesses is not successful, our results of operations and growth prospects may be materially and adversely affected Q4, 2023
2.
We have limited experience commercializing our service robots at a large scale and may not be able to do so efficiently or effectively. Q4, 2023
3.
If our products and services, including our service robots, our AI-powered business solutions, our advertising agency services and multi-cloud management services, fail to offer a good experience and meet customer expectations, our business, results of operations and reputation would be materially and adversely affected. Q4, 2023
Cheetah Mobile Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $815.45M | 7.28 | 50.29% | 1.11% | 22.75% | 144.55% | |
75 Outperform | $1.61B | 12.81 | 12.78% | 4.43% | 23.24% | 75.74% | |
66 Neutral | $963.25M | -31.68 | -7.27% | ― | 9.79% | 53.33% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
52 Neutral | $87.78M | -0.04 | -19.57% | 89.81% | 17.64% | 32.94% | |
46 Neutral | $206.35M | -2.33 | -7.89% | ― | -13.39% | -332.07% | |
40 Underperform | $92.59M | -0.58 | -29.19% | ― | 3.29% | -35.93% |
* Communication Services Sector Average
CMCM
Cheetah Mobile
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Cheetah Mobile Corporate Events
Cheetah Mobile Deepens AI Focus with Q2 2026 Results, OrionStar Deal and Gaming Exit
Sep 11, 2026
On September 11, 2026, Cheetah Mobile reported unaudited second-quarter 2026 results showing total revenue of RMB266.1 million, down 9.9% year on year but up 2.7% sequentially, with operating loss widening to RMB33.6 million. Revenue mix shifted t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.