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. In the quarter to June 2026, revenue grew 9.25%, EPS grew 550.0%, free cash flow grew 147.2% and total debt fell 1.93%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Youdao, Inc. Unsponsored ADR (DAO) Piotroski F-score
Youdao, Inc. Unsponsored ADR's Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 0.00 |
| FY2024 | 5 | 1.00 |
| FY2023 | 4 | 0.00 |
| FY2022 | 4 | 0.00 |
| FY2021 | 4 | 1.00 |
| FY2020 | 3 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 5.78% | 4.66% | Pass | 1 |
| Positive operating cash flow | 7.89m | (9.30m) | Pass | 1 |
| Rising return on assets | 5.78% | 4.66% | Pass | 1 |
| Cash flow above net income | (7.46m) | (20.57m) | Fail | 0 |
| Falling long-term leverage | 0.50 | 0.52 | Pass | 1 |
| Rising current ratio | 0.59 | 0.50 | Pass | 1 |
| No new shares issued | 118,084,000 | 117,427,000 | Fail | 0 |
| Rising gross margin | 44.29% | 48.85% | Fail | 0 |
| Rising asset turnover | 3.18 | 3.19 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| APEI American Public Education, Inc. compare | 7 |
| UTI Universal Technical Institute Inc compare | 7 |
| AFYA Afya Limited compare | 7 |
| LINC Lincoln Educational Services Corporation compare | 6 |
| COUR Coursera, Inc. compare | 6 |
| GOTU Gaotu Techedu Inc. compare | 5 |
| KLC KinderCare Learning Companies, Inc. compare | 5 |
| PXED Phoenix Education Partners, Inc. compare | 5 |
| DAO Youdao, Inc. Unsponsored ADR | 5 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover