DAO · Youdao, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Price · DAO
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $844.98M | $770.75M | $759.05M | $726.84M | $630.17M | $485.44M |
| Cost of Revenue | $470.78M | $394.21M | $369.26M | $351.85M | $318.07M | $262.56M |
| Gross Profit | $374.20M | $376.54M | $389.79M | $375.00M | $312.09M | $222.88M |
| R&D | $73.53M | $73.98M | $104.70M | $116.54M | $95.31M | $65.07M |
| SG&A | $28.16M | $25.63M | $31.27M | $33.23M | $29.86M | $21.22M |
| Total Operating Expenses | $342.56M | $356.15M | $455.47M | $487.31M | $460.11M | $499.63M |
| D&A | $3.35M | $3.97M | $4.17M | $6.12M | $4.72M | $2.47M |
| Operating Income | $31.65M | $20.39M | ($65.68M) | ($112.32M) | ($148.02M) | ($276.75M) |
| Interest Expense | $9.01M | $10.01M | $9.79M | $6.61M | $4.97M | $4.78M |
| Income Tax | $2.37M | $823.0K | $1.56M | $2.01M | $1.04M | $449.0K |
| Net Income | $15.35M | $11.26M | ($77.46M) | ($105.41M) | ($156.24M) | ($268.63M) |
| EPS - Basic | $0.13 | $0.10 | ($0.64) | ($0.85) | ($1.28) | ($2.38) |
| EPS - Diluted | $0.13 | $0.10 | ($0.64) | ($0.85) | ($1.28) | ($2.38) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $62.88M | $81.20M | $64.02M | $113.61M | $50.65M | $93.36M |
| Accounts Receivable | $54.52M | $57.35M | $49.86M | $58.74M | $38.97M | $41.20M |
| Inventory | $20.13M | $23.94M | $30.57M | $33.67M | $40.08M | $22.78M |
| Accounts Payable | $15.73M | $19.89M | $22.39M | $40.94M | $25.27M | $21.66M |
| Current Assets | $246.31M | $203.69M | $183.09M | $271.12M | $356.16M | $283.76M |
| Total Assets | $282.43M | $248.57M | $234.68M | $330.01M | $413.34M | $317.28M |
| Current Liabilities | $419.69M | $403.73M | $436.53M | $460.86M | $476.09M | $520.09M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $559.00M | $534.81M | $534.56M | $544.20M | $527.96M | $532.93M |
| Stockholders' Equity | ($276.57M) | ($286.24M) | ($305.23M) | ($223.55M) | ($126.95M) | ($215.65M) |
| Retained Earnings | - | - | - | - | - | - |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $7.89M | ($9.30M) | ($61.71M) | ($87.44M) | ($211.28M) | ($49.28M) |
| Investing Cash Flow | ($36.23M) | ($1.86M) | $17.69M | $18.24M | $7.39M | $116.62M |
| Financing Cash Flow | $6.53M | $31.31M | ($2.67M) | $26.77M | $279.90M | $4.07M |
| CapEx | $3.66M | $1.61M | $2.51M | $9.95M | $9.96M | $5.65M |
| Free Cash Flow | $4.23M | ($10.92M) | ($64.22M) | ($97.40M) | ($221.24M) | ($54.93M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 44.3% | 48.9% | 51.4% | 51.6% | 49.5% | 45.9% |
| Operating margin | 3.7% | 2.6% | -8.7% | -15.5% | -23.5% | -57.0% |
| EBITDA margin | 4.1% | 3.2% | -8.1% | -14.6% | -22.7% | -56.5% |
| Net margin | 1.8% | 1.5% | -10.2% | -14.5% | -24.8% | -55.3% |
| Free cash flow margin | 0.5% | -1.4% | -8.5% | -13.4% | -35.1% | -11.3% |
| FCF / Net income | 0.28 | -0.97 | 0.83 | 0.92 | 1.42 | 0.20 |
| R&D / Revenue | 8.7% | 9.6% | 13.8% | 16.0% | 15.1% | 13.4% |
| SG&A / Revenue | 3.3% | 3.3% | 4.1% | 4.6% | 4.7% | 4.4% |
| Effective tax rate | 13.4% | 6.8% | - | - | - | - |
| Return on assets | 5.4% | 4.5% | -33.0% | -31.9% | -37.8% | -84.7% |
| Return on equity | -5.6% | -3.9% | 25.4% | 47.2% | 123.1% | 124.6% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.59 | 0.50 | 0.42 | 0.59 | 0.75 | 0.55 |
| Quick ratio | 0.54 | 0.45 | 0.35 | 0.52 | 0.66 | 0.50 |
| Cash ratio | 0.15 | 0.20 | 0.15 | 0.25 | 0.11 | 0.18 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 3.5x | 2.0x | -6.7x | -17.0x | -29.8x | -57.8x |
| Equity multiplier | -1.02 | -0.87 | -0.77 | -1.48 | -3.26 | -1.47 |
| Liabilities / Assets | 1.98 | 2.15 | 2.28 | 1.65 | 1.28 | 1.68 |
| Efficiency | ||||||
| Asset turnover | 2.99 | 3.10 | 3.23 | 2.20 | 1.52 | 1.53 |
| Inventory turnover | 23.39 | 16.47 | 12.08 | 10.45 | 7.94 | 11.52 |
| Days sales outstanding | 24d | 27d | 24d | 29d | 23d | 31d |
| Days inventory outstanding | 16d | 22d | 30d | 35d | 46d | 32d |
| Days payable outstanding | 12d | 18d | 22d | 42d | 29d | 30d |
| Cash conversion cycle | 27d | 31d | 32d | 22d | 40d | 33d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 9.6% | 1.5% | 4.4% | 15.3% | 29.8% | 159.0% |
| Revenue CAGR (3y) | 5.1% | 6.9% | 16.1% | 57.1% | - | - |
| Revenue CAGR (5y) | 11.7% | 32.7% | - | - | - | - |
| Gross profit growth (YoY) | -0.6% | -3.4% | 3.9% | 20.2% | 40.0% | 318.7% |
| Operating income growth (YoY) | 55.2% | - | 41.5% | 24.1% | 46.5% | -220.6% |
| Net income growth (YoY) | 36.3% | - | 26.5% | 32.5% | 41.8% | -210.9% |
| EPS growth (YoY) | 30.0% | - | 24.7% | 33.6% | 46.2% | -147.9% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | 83.0% | 34.1% | 56.0% | -302.8% | 2.1% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 3.4% | 6.2% | -36.5% | -76.1% | 41.1% | - |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Educational Services
Comparing Youdao against the 5 most active filers in the same SIC group.