Youdao, Inc. (DAO)

NYSE: DAO · Real-Time Price · USD

18.75

+0.59 (3.25%)

At close: Oct 19, 2026, 4:00 PM EDT

19.11

+0.36 (1.92%)

Pre-market: Oct 20, 2026, 9:02 AM 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	Jun '26 Jun 30, 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	6,008	5,909	5,626	5,389	5,013	4,016
Revenue Growth	6.75%	5.03%	4.39%	7.50%	24.84%	58.93%
Gross Profit	2,712	2,617	2,748	2,767	2,586	1,989
Operating Income	257.52	221.31	148.82	-466.33	-774.68	-886.47
Net Income	160.73	107.35	82.21	-549.94	-727.03	-995.66
Earnings Per Share	1.34	0.90	0.70	-4.53	-5.88	-8.18
EPS Growth	-30.09%	28.57%	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	2,793	2,631	2,747	3,148	3,084	2,441
Smart Devices	618.55	739.64	903.67	909.19	1,256	980.42
Online Marketing Services	2,596	2,539	1,975	1,332	672.36	593.95
Total	6,008	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	Jun '26 Jun 30, 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	844.47	738.02	655.79	526.66	1,016	826.88
Total Debt	1,712	1,846	1,855	1,597	1,480	1,253
Net Cash (Debt)	-867.98	-1,108	-1,199	-1,070	-463.51	-425.91
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-7.21	-9.24	-10.15	-8.81	-3.75	-3.50

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Operating Cash Flow	-	55.19	-67.91	-438.15	-603.12	-1,346
Capital Expenditures	-	-25.59	-11.79	-17.85	-68.66	-63.48
Free Cash Flow	-	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	Jun '26 Jun 30, 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	45.15%	44.29%	48.85%	51.35%	51.59%	49.53%
Operating Margin	4.29%	3.74%	2.65%	-8.65%	-15.45%	-22.07%
Pretax Margin	2.99%	1.92%	1.44%	-10.00%	-14.48%	-22.90%
Profit Margin	2.67%	1.82%	1.46%	-10.20%	-14.50%	-24.79%
FCF Margin	-	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	Oct '26 Oct 20, 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	94.97	78.53	78.52	-	-	-
Forward PE	52.26	35.12	37.75	-	-	-
P/FCF Ratio	510.52	284.87	-	-	-	-
PS Ratio	2.56	1.43	1.15	0.64	0.93	2.49