COENYSEServices-Educational ServicesFiscal year ends December 31
51Talk Online Education Group
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 23, 2026
$11.33−0.01 (-0.09%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
73.9%+2.2 pts over 5 years
Operating margin
-15.1%−20.2 pts over 5 years
Net margin
-17.6%−24.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +88.6% | +85.2% | -21.2% | – | |
| Gross profit | +78.8% | +81.3% | -20.7% | – | |
| Free cash flow | +72.3% | – | -37.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -15.0% | 72.5% | |
| Return on assets | – | 7.9% | -30.5% | |
| Current ratio | 0.85 | 0.54 | 0.63 | |
| Interest coverage | – | 1600.2× | – | |
| Inventory turnover | – | 521.7× | – | |
| Capex to revenue | 8.9% | 1.1% | 2.4% | |
| Diluted shares | 199M | 320M | 355M |
Where the cash went
Fiscal 2021 to 2025, five years combined
51Talk Online Education generated $168.94M from operations and spent $9.89M on capital expenditure, dividends and share buybacks. 68% of that went back into the business.
Generated
$168.94M
Used
$9.89M
Capital expenditure$6.69M68%Dividends$00%Share buybacks$3.19M32%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-17.6%
×Asset turnover1.74×
×Equity multiplier-2.37×
=Return on equity, FY202572.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -17.6% | 1.74× | -2.37× | 72.5% |
| FY2024 | -14.3% | 1.35× | -3.22× | 62.0% |
| FY2023 | -55.4% | 0.92× | -33.35× | 1705.3% |
| FY2022 | -282.8% | 0.14× | -2.01× | 79.7% |
| FY2021 | 2377.9% | 0.00× | -2.13× | -15.2% |
| FY2020 | 6.7% | 1.17× | -1.91× | -15.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$16.80M
- Cash generatingOperating cash flow above zero$11.81M
- Return on assets improvedROA up on the prior year-23.2% → -38.2%
- Earnings backed by cashOperating cash flow above net income$11.81M vs -$16.80M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.70 → 0.63
- No dilutionShare count did not rise347M → 355M
- Gross margin improvedGross margin up on the prior year77.98% → 73.91%
- More efficientAsset turnover rose1.63 → 2.18