iQIYI, Inc.
IQ · NASDAQ
Company research
iQIYI, Inc. (NASDAQ: IQ) is a leading Chinese online entertainment platform, often referred to as the "Netflix of China," providing a vast library of video content including original series, movies, variety shows, animation, and documentaries to users across the People's Republic of China and internationally. Founded in 2009 and headquartered in Beijing, the company operates as a subsidiary of Baidu Holdings Limited and leverages advanced AI and big data analytics to power its content recommendation and production capabilities. iQIYI generates revenue through a diversified monetization model encompassing subscription membership services, online advertising, content distribution, online gaming, IP licensing, talent management, and an expanding experience business that includes merchandise, immersive theaters, and theme parks. Since its NASDAQ IPO in March 2018, iQIYI has grown into one of the world's largest streaming platforms, serving hundreds of millions of users domestically and reaching over 191 territories through its iQIYI International service.
Research reports
Simply Wall St · June 22, 2026iQIYI (Nasdaq:IQ) - Stock Analysis
Model-driven equity analysis concluding IQ trades about 58% below estimated fair value with forecast earnings growth near 78% per year, highlighting low P/S and P/E multiples, fair-value upside, and a stabilizing fundamental profile, while acknowledging past profitability issues but detecting no major red flags in its automated risk checks.
CMB International Global Markets · May 19, 2026iQIYI (IQ US) - Inline 1Q26 results; solid progress on new growth enginesCMBI maintains a BUY rating with a reduced DCF-based target price of US$1.58 (0.40x FY26E P/S), framing 1Q26’s revenue decline and margin compression as cyclical and emphasizing the long-term upside from overseas membership growth, IP-based consumer products and AI initiatives such as NaDou Pro, while expecting these new growth engines to gradually improve profitability and cash flow.
CMB International Global Markets · October 17, 2025iQIYI (IQ US) - 3Q25 preview: increasing investment in quality contentPre-earnings preview retaining a BUY rating and US$2.70 target (18x 2026E non-GAAP PE), projecting flat total revenue with resilient membership trends but short-term non-GAAP operating loss as IQ steps up long- and short-form content investment, and arguing that NRTA’s supportive policy, micro-drama ecosystem build-out and AI-driven production efficiencies should support margin recovery and growth from 2026 onward.