DAO vs FEDU
Youdao, Inc. and Four Seasons Education (Cayman) Inc., side by side — 9 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | DAO | FEDU |
|---|---|---|
| Revenue | CNY 5.9B | CNY 254.4M |
| Net income | CNY 97.0M | CNY 30.8M |
| Gross margin | 44.3% | 25.8% |
| Net margin | 1.6% | 11.4% |
| Return on equity | · | 6.6% |
| Diluted EPS | CNY 0.90 | CNY 1.34 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY 29.6M | CNY 23.8M |
| Equity | · | CNY 473.6M |
| Net debt / equity | · | −0.10× |
| Current ratio | 0.59× | 1.85× |
| Revenue CAGR 5y | 18.5% | −1.9% |
| Profit CAGR 5y | · | · |
DAO bills 23.2× the revenue of FEDU, and FEDU keeps more of each dollar of revenue as profit (11.4% against 1.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
9 years side by side
| Fiscal year | DAO | FEDU |
|---|---|---|
| FY2025 | CNY 5.9B | CNY 254.4M |
| FY2024 | CNY 5.6B | CNY 251.1M |
| FY2023 | CNY 5.4B | CNY 125.4M |
| FY2022 | CNY 5.0B | CNY 34.2M |
| FY2021 | CNY 4.0B | CNY 250.2M |
| FY2020 | CNY 2.5B | CNY 280.3M |
| FY2019 | CNY 1.2B | CNY 389.0M |
| FY2018 | CNY 731.6M | CNY 335.6M |
| FY2017 | CNY 455.7M | CNY 300.5M |
Bottom line
| Fiscal year | DAO | FEDU |
|---|---|---|
| FY2025 | CNY 97.0M | CNY 30.8M |
| FY2024 | CNY 75.2M | CNY 801,000 |
| FY2023 | CNY -550.1M | CNY 5.0M |
| FY2022 | CNY -745.9M | CNY -29.7M |
| FY2021 | CNY -1.0B | CNY -113.5M |
| FY2020 | CNY -1.8B | CNY -28.2M |
| FY2019 | CNY -601.5M | CNY -109.5M |
| FY2018 | CNY -208.9M | CNY -601,000 |
| FY2017 | CNY -133.6M | CNY 44.4M |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 5,654,575,000 | DAO |
| FY2024 | +CNY 5,374,843,000 | DAO |
| FY2023 | +CNY 5,263,763,000 | DAO |
| FY2022 | +CNY 4,978,966,000 | DAO |
| FY2021 | +CNY 3,765,571,000 | DAO |
| FY2020 | +CNY 2,246,524,000 | DAO |
| FY2019 | +CNY 818,361,000 | DAO |
| FY2018 | +CNY 395,955,000 | DAO |
| FY2017 | +CNY 155,213,000 | DAO |
DAO has reported the higher revenue in every one of these 9 fiscal years. The gap has widened since the earliest year compared.
9 of 11 comparable fiscal years — a year missing data on either side is not counted.
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −9.8 pp | FEDU |
| FY2024 | +1.6 pp | DAO |
| FY2023 | −12.4 pp | FEDU |
| FY2022 | +83.0 pp | DAO |
| FY2021 | +21.9 pp | DAO |
| FY2020 | −59.4 pp | FEDU |
| FY2019 | −21.7 pp | FEDU |
| FY2018 | −28.2 pp | FEDU |
| FY2017 | −49.9 pp | FEDU |
The higher net margin has changed hands between DAO and FEDU over this period.
9 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
FEDU's net margin has been more volatile than DAO's over the 9 comparable fiscal years — 33.9 percentage points of standard deviation against 22.2.
9 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between DAO and FEDU over these 9 fiscal years — DAO led in 3 and FEDU in 6.
9 of 11 comparable fiscal years — a year missing data on either side is not counted.