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Youdao, Inc. Unsponsored ADR

DAO Consumer Defensive Education & Training Services

Youdao, Inc. Unsponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $845.0 million, up 9.63% from fiscal 2024.

Revenue
+9.25%
EPS
+550.0%
Free cash flow
+147.2%
Total debt
−1.93%

Quarter to June 2026, against a year earlier

20.36 0.33 −1.59%
Market cap
$657.2M
P/E
102×
Fwd P/E
83.9×
Dividend yield
—
F-score
5/9
Altman Z
−0.18
Beneish M
−2.43
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 1 — 1 3 — —
Insider Ownership 74.98%

Capital & Financial Ratios $m

Size
Market Cap 657.24
Revenue ttm 879.80
Net income ttm 13.88
Free cash flow ttm (67.64)
Net debt Q 123.65
Valuation
P/E 101.80 (above 35: high)
Forward P/E 83.90 (above 35: high)
Price / sales 2.75
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.58 (below 1: weak)
Debt / equity Q (0.93) (negative: negative equity)
Interest coverage Q 9.24
Growth
Revenue growth Q +9.25% (above 0%: growing)
Operating income growth Q +308.96% (above 0%: growing)
EPS, this year +82.69% (at or above 15%: strong)
EPS, next year A +55.42% (at or above 15%: strong)
Revenue, next year A +14.45% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +58.94% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.9×, against a ten-year median of 1.6×; over the ten years it ranged from 0.7× in 2024 to 17.1× in 2020.
P/S against its own 10 years 82.97%
10-year low 10-year high
EV/Sales against its own 10 years 83.16%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 74 90 106 125
Receivables 50 57 55 49
Inventory 31 24 20 17
Other 4 11 46 38
183 204 246 250
2023 2024 2025 Q'26
Payables 22 20 16 10
ST’ Debt 124 120 126 129
Other 160 135 124 126
437 404 420 427

Compound Annual Growth %

10y 5y 3y
Sales — 11.72% 5.15%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Sep 2022 Estimate −0.19 Actual −0.19

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Mar 2022 −0.24 −0.09 Beat by 0.15
Sep 2022 −0.19 −0.19 Met by 0.00

EPS $

Mar Jun Sep Dec Year
’26 0.05 0.09 — — —
’25 0.09 (0.02) 0.00 0.06 0.13
’24 0.02 (0.12) 0.11 0.10 0.10
’23 (0.24) (0.34) (0.12) 0.07 (0.64)
’22 (0.13) (0.55) (0.21) 0.01 (0.87)
’21 (0.42) (0.66) (0.16) (0.02) (1.28)
’20 (0.21) (0.33) (1.14) (0.60) (2.38)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 195 216 — — —
’25 179 198 229 239 845
’24 193 182 224 172 771
’23 169 166 211 212 759
’22 189 143 197 198 727
’21 205 200 215 10 630
’20 76 88 132 189 485
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — 8 8
’24 — — — (9) (9)
’23 — — — — (62)
’22 — — — — (87)
’21 — — — — (211)
’20 — — (66) 17 (49)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — 5 5
’24 — — — (11) (11)
’23 — — — (2) (64)
’22 — — — (10) (97)
’21 — — — (10) (221)
’20 — — (69) 15 (55)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — 67 107 187 485 630 727 759 771 845 880 +37.2% 967 1,101 1,236 +13.5%
Gross margin, % — 35.53 29.59 28.40 45.91 49.53 51.59 51.35 48.85 44.29 45.18 +8.8 pt
EBT — (23) (29) (86) (268) (144) (105) (76) 11 16 27 n/m
EBT margin, % — (34.84) (27.06) (45.91) (55.26) (22.90) (14.48) (10.00) 1.44 1.92 3.02 +36.8 pt
Net income — 0 (30) (86) (269) (145) (107) (77) 10 14 14 n/m
Per share, $
Per share, $ Revenue — 0.60 1.25 1.96 4.30 5.18 5.88 6.25 6.56 7.16 7.40 +36.4%
Earnings — (0.18) (0.41) (0.94) (2.38) (1.28) (0.87) (0.64) 0.10 0.13 0.20 n/m
Cash flow — (0.11) (0.17) (0.56) (0.44) (1.74) (0.71) (0.51) (0.08) 0.07 0.00 n/m
Capex — 0.00 (0.02) (0.02) (0.05) (0.08) (0.08) (0.02) (0.01) (0.03) 0.00 n/m
Free cash flow — (0.11) (0.19) (0.58) (0.49) (1.82) (0.79) (0.53) (0.09) 0.04 0.00 n/m
Book value — (0.97) (1.95) 0.45 (1.91) (1.04) (1.81) (2.51) (2.44) (2.34) (2.24) +11.6%
Shares, m — 113 85 95 113 122 124 121 117 118 118 +0.6%
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69.16 77.54 101.80 16.3
P/S — 0.00 0.00 0.00 6.17 2.41 0.98 0.60 1.13 1.41 2.75 1.4
P/B — 0.00 0.00 30.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.3
EV/Sales — 0.00 0.00 0.00 6.09 2.30 1.05 0.78 1.33 1.59 2.89 1.5
EV/FCF — 0.00 0.00 0.00 0.00 (4.96) (2.05) (1.61) (10.62) (19.85) (37.62) (4.3)
Cash, $m
Cash, $m Operating cash flow — (13) (15) (53) (49) (211) (87) (62) (9) 8 (51) n/m
Capex — (2) (2) (2) (6) (10) (10) (2) (2) (3) (17) +9.9%
Free cash flow — (13) (16) (56) (55) (221) (97) (64) (11) 5 (68) n/m
Balance, $m
Balance, $m Working capital — (153) (103) 39 (236) (120) (190) (253) (200) (173) (178) +1.6%
Net debt — 129 64 (104) (36) (70) 56 138 155 152 124 +2.1%
Shareholders’ equity — (110) (166) 43 (216) (127) (224) (305) (286) (277) (266) +12.2%
Returns, %
Returns, % ROA — (34.34) (77.21) (46.96) (87.08) (42.77) (28.36) (27.43) 4.66 5.78 8.70 +40.1 pt
ROIC — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE — 14.31 25.25 148.84 311.62 91.21 60.15 29.30 (3.81) (5.45) 0.00 (19.8) pt
People
People Employees — — 1,142 1,699 4,949 6,096 5,068 4,364 3,750 3,595 — +17.8%
Revenue/emp, $m — 0.00 0.09 0.11 0.10 0.10 0.14 0.17 0.21 0.24 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Youdao, Inc. Unsponsored ADR vs peers in Education & Training Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
STRA Strategic Education Inc. $1.3B 200× 8.8× +1.60% (above 0%: growing) n/m +15.56% (above 0%: growing) 49.66% (26.94%) Compare
UTI Universal Technical Institute Inc $1.1B 31.3× 37.5× +7.15% (above 0%: growing) −80.00% (below 0%: shrinking) −408.92% (below 0%: shrinking) 45.94% 1.48% Compare
COUR Coursera, Inc. $991.5M — (loss-making) — (loss-making) +93.98% (above 0%: growing) n/m −45.99% (below 0%: shrinking) 58.43% (7.67%) Compare
AFYA Afya Limited $928.2M 6.2× 6.6× +18.55% (above 0%: growing) +29.41% (above 0%: growing) +59.54% (above 0%: growing) 61.59% 30.64% Compare
PXED Phoenix Education Partners, Inc. $788.9M 9.2× 9.4× +1.28% (above 0%: growing) −29.07% (below 0%: shrinking) +151.03% (above 0%: growing) 100.00% 11.98% Compare
APEI American Public Education, Inc. $699.5M 15.1× 15.6× +5.51% (above 0%: growing) n/m −77.96% (below 0%: shrinking) 55.37% 7.88% Compare
DAO Youdao, Inc. Unsponsored ADR $657.2M 102× 83.9× +9.25% (above 0%: growing) n/m +147.18% (above 0%: growing) 48.87% 7.60%
LINC Lincoln Educational Services Corporation $556.7M 24.0× 26.6× +22.40% (above 0%: growing) +20.00% (above 0%: growing) +129.40% (above 0%: growing) 58.17% 2.32% Compare
GOTU Gaotu Techedu Inc. $284.0M — (loss-making) 931× +26.91% (above 0%: growing) n/m +129.63% (above 0%: growing) 66.51% (8.97%) Compare
Median of peers $858.6M 19.6× 15.6× +12.85% −4.53% +37.55% 58.30% 1.90%

All 44 Education & Training Services stocks →

Youdao, Inc. Unsponsored ADR (DAO) Latest News

16 Oct

Impact 4 · · Simply Wall St.

20 Aug

Impact 4 ·
Impact 4 ·
Impact 3 · · MarketBeat transcript

21 May

Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · PR Newswire
Impact 3 ·

12 Feb

Impact 3 · · Zacks

11 Feb

Impact 4 · · PR NewswireSimply Wall St.BloombergSimply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat
Impact 3 · · Investing.com
Impact 3 · · PR Newswire

5 Feb

Impact 3 · · Simply Wall St.

4 Feb

Impact 3 · · Simply Wall St.

28 Jan

Impact 3 · · PR Newswire

25 Dec

Impact 4 · · Simply Wall St.

22 Nov

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.

21 Nov

Impact 4 ·

20 Nov

Impact 4 · · GuruFocus.com transcript
Impact 4 · · GuruFocus.com transcript
Impact 4 · · PR Newswire
Impact 4 · · PR NewswireMT NewswiresMotley FoolMT Newswires
Impact 3 · · PR Newswire

11 Nov

Impact 4 · · Simply Wall St.

6 Nov

Impact 3 · · PR Newswire

3 Oct

Impact 4 ·

4 Sep

Impact 4 · · Simply Wall St.

15 Aug

Impact 3 · · Simply Wall St.
stockrow.com/DAO · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com