DAONYSEServices-Educational ServicesFiscal year ends December 31
Youdao, Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 15, 2026
$18.75+0.59 (+3.25%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
44.3%+0.5 pts over 5 years
Operating margin
3.7%+37.4 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +5.0% | +5.6% | +18.5% | – | |
| Gross profit | -4.8% | +0.4% | +18.8% | – | |
| Operating income | +48.7% | – | – | – | |
| EPS, diluted | +28.6% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | – | -84.3% | – | |
| Current ratio | – | 0.55 | 0.59 | |
| Interest coverage | – | -27.3× | 3.5× | |
| Inventory turnover | – | 14.8× | 20.9× | |
| Capex to revenue | – | 1.2% | 0.4% | |
| Diluted shares | – | 113M | 120M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Youdao generated CN¥2.51B from operations and spent CN¥427.91M on capital expenditure, dividends and share buybacks. 44% of that went back into the business.
Generated
CN¥2.51B
Used
CN¥427.91M
Capital expenditureCN¥187.37M44%DividendsCN¥00%Share buybacksCN¥240.54M56%
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zeroCN¥55.19M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net incomeCN¥55.19M vs –
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.50 → 0.59
- No dilutionShare count did not rise118M → 120M
- Gross margin improvedGross margin up on the prior year48.85% → 44.29%
- More efficientAsset turnover rose3.38 → 3.26