Tearsheet
Investment Highlights Market Valuation Price Chart Return vs. Risk About DUO Interactive Breakdown Better Bets vs. DUO Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Fangdd Network (DUO)

Market Price (10/31/2025): $1.87 | Market Cap: $42,391
Sector: Real Estate | Industry: Real Estate Services

Fangdd Network (DUO)

Market Price (10/31/2025): $1.87
Market Cap: $42,391
Sector: Real Estate
Industry: Real Estate Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -839482%		  Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -935 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -99%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -49%		  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -62%, Rev Chg QQuarterly Revenue Change % is -87%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2704912%
3   High stock price volatility
Vol 12M is 144%
4   Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 2363%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -839482%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -49%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -935 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -99%
3 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -62%, Rev Chg QQuarterly Revenue Change % is -87%
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2704912%
5 High stock price volatility
Vol 12M is 144%
6 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 2363%

Market Valuation & Key Metrics

DUOS&P 500
REVENUE GROWTHVERY POOR
Rev LTM ($ Bil)0.9
Rev Chg Q-87.0%6.4%
Rev Chg LTM-61.6%5.4%
Rev Chg 3Y Avg-46.7%5.3%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.9
CFO LTM ($ Bil)�
Net Inc LTM ($ Bil)-1.2
Op Mgn LTM-99.2%18.7%
Net Inc Mgn-124.3%12.8%
VALUATIONVERY LOW
P/S0.03.2
P/E-0.023.6
STABILITYFAIR
Debt/Equity3179.450.21
Cash/Assets0.260.07

DUO Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The -49.5% change in DUO stock from 5/1/2025 to 10/30/2025 was primarily driven by a -49.5% change in the company's P/S Multiple.

501202510302025Change
Stock Price ($)3.781.91-49.50%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)942.38942.380.00%
P/S Multiple0.000.00-49.50%
Shares Outstanding (Mil)0.020.020.00%
Cumulative Contribution-49.50%

LTM = Last Twelve Months as of date shown
The -89.2% change in DUO stock from 10/30/2024 to 10/30/2025 was primarily driven by a -89.2% change in the company's P/S Multiple.

1030202410302025Change
Stock Price ($)17.761.91-89.25%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)942.38942.380.00%
P/S Multiple0.000.00-89.25%
Shares Outstanding (Mil)0.020.020.00%
Cumulative Contribution-89.25%

LTM = Last Twelve Months as of date shown
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Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
DUO Return------80%-77%
Peers Return9%-8%-35%60%-12%70%55%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
DUO Win Rate----33%22% 
Peers Win Rate33%25%20%32%22%53% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
DUO Max Drawdown------86% 
Peers Max Drawdown-15%-17%-36%-5%-18%-22% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: OPEN, GBR, GYRO, HBNB, LHAI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

DUO has limited trading history. Below is the Real Estate sector ETF (XLRE) in its place.

Unique KeyEventXLRES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-37.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven61.0%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-39.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven64.7%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven393 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-13.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven15.7%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven43 days120 days

Compare to


In The Past

Real Estate Select Sector SPDR Fund (The)'s stock fell -37.9% during the 2022 Inflation Shock from a high on 12/31/2021. A -37.9% loss requires a 61.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Fangdd Network (DUO)

Better Bets than Fangdd Network (DUO)

 DUOBetter Performance than DUO
MetricValueIndustry (Real Estate Services)
Rev Chg LTM-61.6%CBRE (15.0%), CSGP (14.6%), JLL (13.5%), CIGI (13.5%), OPEN (14.1%)
Op Mgn LTM-99.2%CBRE (3.8%), CSGP (-2.7%), JLL (3.9%), CIGI (7.2%), OPEN (-3.9%)
Total Yield-2704907.1%CBRE (2.4%), CSGP (0.1%), JLL (3.9%), CIGI (2.0%), OPEN (-5.7%)
 DUOBetter Performance than DUO
MetricValueAll Other Sectors
Rev Chg LTM-61.6%NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Op Mgn LTM-99.2%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
Total Yield-2704907.1%NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)
 Best Bets In Real Estate Sector
 DUOCTRE WPC ADC NNN OHI O EPRT GLPI EPR FCPT
What You Pay           
P/E-0.030.139.441.919.424.756.824.616.524.922.4
P/EBIT-0.026.220.825.013.116.425.317.310.613.415.2
What You Get           
Rev Chg Q-87.0%55.3%8.5%18.7%4.6%11.8%4.2%23.7%3.7%5.3%11.0%
Rev Chg LTM-61.6%29.7%5.6%14.7%4.8%14.0%15.6%24.2%5.4%-0.6%8.3%
Rev Chg 3Y Avg�14.1%5.6%19.5%6.1%3.9%24.7%24.2%8.1%5.8%9.5%
FCF/Rev 3Y Avg�88.4%84.4%73.1%73.6%71.4%71.0%69.3%66.6%65.1%61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

Trade Ideas

Select past ideas related to DUO. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_4302025_Short_Squeeze04302025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.8%-8.8%-26.6%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_4302025_Short_Squeeze04302025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.8%-8.8%-26.6%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Fangdd Network

Financials

DUOOPENGBRGYROHBNBLHAIMedian
NameFangdd N.Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
Mkt Price1.917.340.9110.014.9910.206.17
Mkt Cap0.05.40.00.0--0.0
Rev LTM9425,18105-1515
Op Inc LTM-935-204-0-3-1-3
FCF LTM-511-0-2-10
FCF 3Y Avg-1,094049--49
CFO LTM-526-0-2-10
CFO 3Y Avg-1,122049--49

Growth & Margins

DUOOPENGBRGYROHBNBLHAIMedian
NameFangdd N.Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
Rev Chg LTM-61.6%14.1%4.1%-1.2%-215.1%4.1%
Rev Chg 3Y Avg--24.2%5.8%2.1%--2.1%
Rev Chg Q-87.0%3.7%8.1%-1.8%-116.2%3.7%
QoQ Delta Rev Chg LTM-36.5%1.1%2.0%-0.2%-21.2%1.1%
Op Mgn LTM-99.2%-3.9%-166.9%-50.0%-7.3%-50.0%
Op Mgn 3Y Avg-40.6%-7.4%-141.8%-153.7%---91.2%
QoQ Delta Op Mgn LTM-57.9%1.3%-1.3%2.6%--2.0%-1.3%
CFO/Rev LTM-10.2%-26.5%-43.8%-5.5%-10.5%
CFO/Rev 3Y Avg-5.9%0.0%1,138.1%--5.9%
FCF/Rev LTM-9.9%-26.5%-43.8%-5.5%-10.5%
FCF/Rev 3Y Avg-5.4%0.0%1,136.7%--5.4%

Valuation

DUOOPENGBRGYROHBNBLHAIMedian
NameFangdd N.Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
Mkt Cap0.05.40.00.0--0.0
P/S0.01.030.90.3--0.6
P/EBIT-0.0-31.5-18.5-0.6---9.6
P/E-0.0-17.6-76.627.8---8.8
P/CFO-10.2-116.8-0.6---0.6
Total Yield-2,704,907.1%-5.7%-1.3%3.6%---3.5%
Dividend Yield0.0%0.0%0.0%0.0%--0.0%
FCF Yield 3Y Avg-61.1%0.1%3,141.7%--61.1%
D/E3,112.90.40.012.5--6.5
Net D/E-8,394.80.3-0.13.1--0.1

Returns

DUOOPENGBRGYROHBNBLHAIMedian
NameFangdd N.Opendoor.New Conc.Gyrodyne Hotel101.Linkhome  
1M Rtn-44.3%-7.9%-8.9%-0.1%63.1%12.6%-4.0%
3M Rtn5.2%298.9%0.8%16.8%133.2%66.7%41.7%
6M Rtn-49.5%881.8%32.3%26.3%--29.3%
12M Rtn-89.2%298.9%-23.9%-2.9%---13.4%
3Y Rtn-183.4%-29.2%7.5%--7.5%
1M Excs Rtn-46.9%-10.6%-9.9%-1.6%64.6%2.2%-5.7%
3M Excs Rtn-1.5%240.2%1.3%-3.4%137.7%79.5%40.4%
6M Excs Rtn-71.2%860.1%10.6%4.5%--7.5%
12M Excs Rtn-107.0%275.4%-39.8%-23.2%---31.5%
3Y Excs Rtn-93.1%-109.6%-69.3%---69.3%

Financials

$ Mil | FY: 12/312021Q42021Q32021Q22021Q12020Q42020Q32020Q22020Q12019Q42019Q32019Q22019Q1
Period End12/31/20219/30/20216/30/20213/31/202112/31/20209/30/20206/30/20203/31/202012/31/20199/30/20196/30/20193/31/2019
Filing Date4/22/202211/19/20218/13/20215/14/20213/31/202111/20/20208/14/20206/11/20204/15/202012/5/201911/1/20196/11/2020
Key Financials Quarterly            
Total Revenue811694012916228197382721,047948948656
Ebitda-626-310-143-107-4423-33-140-64677675
Operating Income-375-310-143-107-5423-33-140-66377675
Net Income-600-337-132-102-9222-14-136-691808615
EPS-27000.00-15300.00-6300.00-4500.00-4500.00900.00-900.00-6300.00-79199.993856.60162.76-222.28
Key Financials TTM            
Total Revenue TTM9421,4842,1342,4702,4512,8763,0053,2163,5993,2502,854-
Ebitda TTM-1,186-604-270-161-194-796-743-643-498212157-
Operating Income TTM-935-614-280-170-203-812-759-660-514181125-
Net Income TTM-1,171-663-304-186-220-820-761-662-510221167-
Growth Rates Quarterly            
Total Revenue Growth-87.0%-79.3%-45.6%7.0%-40.6%-13.6%-22.2%-58.5%50.0%71.9%--
EBITDA Growth-1315.9%-1423.1%-332.7%23.6%93.2%-69.5%-149.5%-2841.0%-1116.9%258.2%--
Operating Income Growth-599.5%-1423.1%-332.7%23.6%91.9%-69.5%-149.5%-2841.0%-2161.6%258.2%--
Net Income Growth-554.1%-1637.2%-847.1%25.4%86.7%-72.7%-116.4%-1022.1%-1825.0%204.9%--
Margins Quarterly            
EBITDA Margin-775.3%-183.4%-35.5%-36.8%-7.1%2.9%-4.5%-51.5%-61.7%8.1%7.0%0.8%
Operating Income Margin-464.6%-183.4%-35.5%-36.8%-8.6%2.9%-4.5%-51.5%-63.3%8.1%7.0%0.8%
Net Income Margin-743.7%-199.0%-33.0%-35.0%-14.7%2.7%-1.9%-50.1%-66.0%8.5%9.0%2.3%
Cash & Debt            
Total Cash4986216868178529808558381,115531553-
Total Debt135220291374443448004903862950
Net Debt / (Cash)-363-400-395-443-409-532-855-838-625-144-258-
Cash Flows Quarterly            
FCF from Operations------------
Cash Flows TTM            
FCF from Operations TTM------------
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-35.2%-245.5%-68.3%-46.8%-5.1%9.4%-20.4%-85.9%-68.2%---
Return on Invested Capital (ROIC) TTM            
ROIC TTM-21.9%-121.3%-33.5%-18.6%-4.9%-81.3%-117.5%-101.2%-13.2%---

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Single segment285246   
Base commission from transactions  8222,2243,455
Innovation initiatives and other value-added services  120228144
Total2852469422,4513,599


Price Behavior

DUO Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta1.91-2.07-1.230.86-0.050.02
Up Beta9.152.551.311.140.16-0.62
Down Beta4.33-3.12-3.970.961.521.00
Up Capture363%12%41%1%-32%-3%
Bmk +ve Days13233574144420
Stock +ve Days122230539999
Down Capture-674%-1172%-520%76%149%94%
Bmk -ve Days8192952107330
Stock -ve Days9193170147147

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity535,647
Short Interest: % Change Since 93020253.1%
Average Daily Volume650,832
Days-to-Cover Short Interest1
Basic Shares Quantity22,669
Short % of Basic Shares2362.9%

Returns Analyses

SEC Filings

Expand for More

Report DateFiling DateFiling
12312024423202520-F 12/31/2024
630202492720246-K 6/30/2024
12312023419202420-F 12/31/2023
630202392920236-K 6/30/2023
12312022419202320-F 12/31/2022
6302022120620226-K 6/30/2022
12312021422202220-F 12/31/2021
9302021111920216-K 9/30/2021
630202181320216-K 6/30/2021
331202151420216-K 3/31/2021
12312020331202120-F 12/31/2020
9302020112020206-K 9/30/2020
630202081420206-K 6/30/2020
331202061120206-K 3/31/2020
12312019415202020-F 12/31/2019
9302019120520196-K 9/30/2019

Insider Activity

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External Quote Links


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