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Side-by-side financial comparison of DDC Enterprise Ltd (DDC) and Token Cat Ltd (TC). Click either name above to swap in a different company.
DDC Enterprise Ltd is the larger business by last-quarter revenue ($5.4M vs $2.8M, roughly 2.0× Token Cat Ltd). Token Cat Ltd runs the higher net margin — -3.4% vs -123.3%, a 120.0% gap on every dollar of revenue.
DDC vs TC — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4M | $2.8M |
| Net Profit | $-6.7M | $-93.0K |
| Gross Margin | 31.4% | 79.0% |
| Operating Margin | -90.0% | -206.9% |
| Net Margin | -123.3% | -3.4% |
| Revenue YoY | — | -37.9% |
| Net Profit YoY | — | 98.3% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.4M | — | ||
| Q2 25 | $2.2M | $2.8M | ||
| Q2 24 | — | $4.4M | ||
| Q2 23 | — | $12.7M | ||
| Q2 22 | — | $13.3M |
| Q4 25 | $-6.7M | — | ||
| Q2 25 | $715.3K | $-93.0K | ||
| Q2 24 | — | $-5.6M | ||
| Q2 23 | — | $-4.2M | ||
| Q2 22 | — | $-8.4M |
| Q4 25 | 31.4% | — | ||
| Q2 25 | 33.4% | 79.0% | ||
| Q2 24 | — | 69.2% | ||
| Q2 23 | — | 63.4% | ||
| Q2 22 | — | 81.0% |
| Q4 25 | -90.0% | — | ||
| Q2 25 | 12.9% | -206.9% | ||
| Q2 24 | — | -146.9% | ||
| Q2 23 | — | -59.9% | ||
| Q2 22 | — | -49.6% |
| Q4 25 | -123.3% | — | ||
| Q2 25 | 33.2% | -3.4% | ||
| Q2 24 | — | -125.9% | ||
| Q2 23 | — | -33.3% | ||
| Q2 22 | — | -62.9% |
| Q4 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $21.7M | $150.0K |
| Total DebtLower is stronger | $610.8K | $1.4M |
| Stockholders' EquityBook value | $71.2M | $4.6M |
| Total Assets | $199.6M | $28.4M |
| Debt / EquityLower = less leverage | 0.01× | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.7M | — | ||
| Q2 25 | $3.5M | $150.0K | ||
| Q2 24 | — | $689.0K | ||
| Q2 23 | — | $3.0M | ||
| Q2 22 | — | $4.8M |
| Q4 25 | $610.8K | — | ||
| Q2 25 | — | $1.4M | ||
| Q2 24 | — | $1.8M | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | $71.2M | — | ||
| Q2 25 | $3.9M | $4.6M | ||
| Q2 24 | — | $-787.0K | ||
| Q2 23 | — | $9.1M | ||
| Q2 22 | — | $21.4M |
| Q4 25 | $199.6M | — | ||
| Q2 25 | $12.4M | $28.4M | ||
| Q2 24 | — | $12.5M | ||
| Q2 23 | — | $25.1M | ||
| Q2 22 | — | $40.6M |
| Q4 25 | 0.01× | — | ||
| Q2 25 | — | 0.30× | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-39.7M | $-23.7M |
| Free Cash FlowOCF − Capex | $-39.7M | — |
| FCF MarginFCF / Revenue | -734.1% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-39.7M | — | ||
| Q2 25 | — | $-23.7M | ||
| Q2 24 | — | $-1.5M | ||
| Q2 23 | — | $-7.2M | ||
| Q2 22 | — | $-8.3M |
| Q4 25 | $-39.7M | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | $-1.5M | ||
| Q2 23 | — | — | ||
| Q2 22 | — | $-8.3M |
| Q4 25 | -734.1% | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | -34.4% | ||
| Q2 23 | — | — | ||
| Q2 22 | — | -62.2% |
| Q4 25 | 0.1% | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q2 23 | — | — | ||
| Q2 22 | — | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
