DAO vs STG
Youdao, Inc. and Sunlands Technology Group, side by side — 9 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | DAO | STG |
|---|---|---|
| Revenue | CNY 5.9B | CNY 2.0B |
| Net income | CNY 97.0M | CNY 365.6M |
| Gross margin | 44.3% | 86.9% |
| Net margin | 1.6% | 18.1% |
| Return on equity | — | 47.3% |
| Diluted EPS | CNY 0.90 | CNY 54.28 |
| Dividend / share | — | — |
| Payout ratio | — | 0.0% |
| Free cash flow | CNY 29.6M | CNY 146.6M |
| Equity | — | CNY 945.6M |
| Net debt / equity | — | −0.61× |
| Current ratio | 0.59× | 1.21× |
| Revenue CAGR 5y | 18.5% | −1.7% |
| Profit CAGR 5y | — | — |
DAO bills 2.9× the revenue of STG, and STG keeps more of each dollar of revenue as profit (18.1% 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.
Revenue by year
9 years side by side
| Fiscal year | DAO | STG |
|---|---|---|
| FY2025 | CNY 5.9B | CNY 2.0B |
| FY2024 | CNY 5.6B | CNY 2.0B |
| FY2023 | CNY 5.4B | CNY 2.2B |
| FY2022 | CNY 5.0B | CNY 2.3B |
| FY2021 | CNY 4.0B | CNY 2.5B |
| FY2020 | CNY 2.5B | CNY 2.2B |
| FY2019 | CNY 1.2B | CNY 2.2B |
| FY2018 | CNY 731.6M | CNY 2.0B |
| FY2017 | CNY 455.7M | CNY 970.2M |
Net income by year
Bottom line
| Fiscal year | DAO | STG |
|---|---|---|
| FY2025 | CNY 97.0M | CNY 365.6M |
| FY2024 | CNY 75.2M | CNY 342.1M |
| FY2023 | CNY -550.1M | CNY 640.8M |
| FY2022 | CNY -745.9M | CNY 644.0M |
| FY2021 | CNY -1.0B | CNY 219.1M |
| FY2020 | CNY -1.8B | CNY -430.5M |
| FY2019 | CNY -601.5M | CNY -394.8M |
| FY2018 | CNY -208.9M | CNY -927.0M |
| FY2017 | CNY -133.6M | CNY -918.6M |