FinVolution Group vs Qfin Holdings, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
FinVolution and Qfin are the same business twice, Chinese online-credit platforms matching borrowers to institutional money, and the market prices the twins twelve turns apart on nothing visible: Qfin at 5 times earnings with the better margins (31.1% net against 18.7%) and a 36% free-cash yield, FinVolution at 17.8 with the steadier reputation. Returns on assets nearly tie, 10-10.5%. Both are debt-free. When identical models in one jurisdiction price this differently, the market is grading disclosure risk, regulatory posture, or history rather than economics; the fundamentals page cannot see any of those, which is precisely the finding. One of these multiples is wrong, and the page cannot tell you which.
Comparison updated 2026-07-10.
| Metric | FINV | QFIN |
|---|---|---|
| Price | $4.80 | $15.82 |
| Market cap | $6.4B | $4.3B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Mature |
| P/E | 17.8 | 5.0 |
| P/B | 2.66 | 1.25 |
| P/S | 3.30 | 1.57 |
| EV/EBITDA | 613.1 | 3.8 |
| Revenue growth | +200.0% | +1.7% |
| Operating margin | — | 34.8% |
| Net margin | 18.7% | 31.1% |
| Return on equity | 15.1% | 24.7% |
| Return on assets | 10.0% | 10.5% |
| Debt / equity | 0.02 | 0.00 |
| Current ratio | — | 2.43 |
| Altman Z (solvency) | 4.33 | 2.49 |
| Piotroski F (quality) | 6 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.