Youdao, Inc. (DAO)

NYSE: DAO · Real-Time Price · USD

18.14

+0.60 (3.42%)

At close: Aug 7, 2026, 4:00 PM EDT

18.46

+0.32 (1.76%)

After-hours: Aug 7, 2026, 7:34 PM EDT

Youdao Financials Overview

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5,959	5,909	5,626	5,389	5,013	4,016
Revenue Growth	7.71%	5.03%	4.39%	7.50%	24.84%	58.93%
Gross Profit	2,605	2,617	2,748	2,767	2,586	1,989
Operating Income	174.77	221.31	148.82	-466.33	-774.68	-943.25
Net Income	69.18	107.35	82.21	-549.94	-727.03	-995.66
Earnings Per Share	0.57	0.90	0.70	-4.53	-5.88	-8.18
EPS Growth	-53.66%	28.57%	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Learning Services	2,656	2,631	2,747	3,148	3,084	2,441
Smart Devices	658.55	739.64	903.67	909.19	1,256	980.42
Online Marketing Services	2,645	2,539	1,975	1,332	672.36	593.95
Total	5,959	5,909	5,626	5,389	5,013	4,016

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	510.15	738.02	655.79	526.66	1,016	826.88
Total Debt	1,714	1,823	1,817	1,558	1,444	1,206
Net Cash (Debt)	-1,204	-1,085	-1,161	-1,031	-427.94	-379.22
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-10.06	-9.06	-9.82	-8.49	-3.46	-3.12

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	55.19	55.19	-67.91	-438.15	-603.12	-1,346
Capital Expenditures	-25.59	-25.59	-11.79	-17.85	-68.66	-63.48
Free Cash Flow	29.59	29.59	-79.7	-456	-671.78	-1,410
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	43.72%	44.29%	48.85%	51.35%	51.59%	49.53%
Operating Margin	2.93%	3.75%	2.65%	-8.65%	-15.45%	-23.49%
Pretax Margin	1.25%	1.92%	1.44%	-10.00%	-14.48%	-22.90%
Profit Margin	1.06%	1.64%	1.34%	-10.21%	-14.88%	-25.56%
FCF Margin	0.00%	0.50%	-1.42%	-8.46%	-13.40%	-35.11%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 8, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	216.31	78.36	77.16	-	-	-
Forward PE	58.31	35.12	37.75	-	-	-
P/FCF Ratio	498.93	282.70	-	-	-	-
PS Ratio	2.53	1.42	1.13	0.62	0.91	2.43