Sunlands Technology Group Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	2,020	1,990	2,160	2,323	2,508
Revenue Growth (YoY)	1.49%	-7.84%	-7.04%	-7.37%	13.80%
Cost of Revenue	264.42	317.57	265.53	348.15	376.19
Gross Profit	1,755	1,673	1,894	1,975	2,132
Selling, General & Admin	1,281	1,350	1,285	1,315	1,956
Research & Development	29.55	25.01	33.72	42.83	61.33
Total Operating Expenses	1,311	1,375	1,319	1,358	2,017
Operating Income	376.55	297.91	574.89	616.94	114.27
Interest Income	23.64	38.82	31.09	16.25	16.18
Interest Expense	-0.85	-5.29	-7.66	-10.06	-10.93
Other Non-Operating Income (Expense)	-37.81	25.46	77.75	25.42	78.12
Total Non-Operating Income (Expense)	-15.02	58.99	101.19	31.61	83.37
Pretax Income	429.46	356.89	676.08	648.55	197.63
Provision for Income Taxes	59.3	1.3	25.17	11.99	-19.62
Net Income	365.63	342.08	640.83	643.96	219.06
Minority Interest in Earnings	4.53	13.51	10.09	-7.4	-1.8
Net Income to Common	365.63	342.08	640.83	643.96	219.06
Net Income Growth	6.88%	-46.62%	-0.49%	193.97%	-
Shares Outstanding (Basic)	3	3	3	14	13
Shares Outstanding (Diluted)	3	3	3	14	13
Shares Change (YoY)	-1.30%	-1.08%	-74.78%	1.67%	-0.39%
EPS (Basic)	108.56	100.24	185.76	47.07	16.28
EPS (Diluted)	108.56	100.24	185.76	47.07	16.28
EPS Growth	8.30%	-46.04%	294.65%	189.13%	-
Shares Outstanding	3.35	3.38	3.43	3.46	6.67
Free Cash Flow	146.6	195.26	135.04	5.9	-386.93
Free Cash Flow Growth	-24.92%	44.60%	2188.34%	-	-
Free Cash Flow Per Share	43.52	57.22	39.14	0.43	-28.76
Gross Margin	86.91%	84.04%	87.70%	85.01%	85.00%
Operating Margin	18.64%	14.97%	26.62%	26.56%	4.56%
Profit Margin	18.33%	17.87%	30.14%	27.40%	8.66%
FCF Margin	7.26%	9.81%	6.25%	0.25%	-15.43%
EBITDA	405.34	327.37	605.54	663.63	152.18
EBITDA Margin	20.07%	16.45%	28.04%	28.57%	6.07%
EBIT	376.55	297.91	574.89	616.94	114.27
EBIT Margin	18.64%	14.97%	26.62%	26.56%	4.56%
Effective Tax Rate	13.81%	0.36%	3.72%	1.85%	-9.93%

Updated Mar 20, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q