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 | ¥5.9B | ¥2.0B |
| Net income | ¥97.0M | ¥365.6M |
| Gross margin | 44.3% | 86.9% |
| Net margin | 1.6% | 18.1% |
| Return on equity | — | 47.3% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | 0.0% |
| Free cash flow | ¥29.6M | ¥146.6M |
| Equity | — | ¥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.
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Revenue by year
9 years side by side
| Fiscal year | DAO | STG |
|---|---|---|
| FY2025 | ¥5.9B | ¥2.0B |
| FY2024 | ¥5.6B | ¥2.0B |
| FY2023 | ¥5.4B | ¥2.2B |
| FY2022 | ¥5.0B | ¥2.3B |
| FY2021 | ¥4.0B | ¥2.5B |
| FY2020 | ¥2.5B | ¥2.2B |
| FY2019 | ¥1.2B | ¥2.2B |
| FY2018 | ¥731.6M | ¥2.0B |
| FY2017 | ¥455.7M | ¥970.2M |
Net income by year
Bottom line
| Fiscal year | DAO | STG |
|---|---|---|
| FY2025 | ¥97.0M | ¥365.6M |
| FY2024 | ¥75.2M | ¥342.1M |
| FY2023 | ¥-550.1M | ¥640.8M |
| FY2022 | ¥-745.9M | ¥644.0M |
| FY2021 | ¥-1.0B | ¥219.1M |
| FY2020 | ¥-1.8B | ¥-430.5M |
| FY2019 | ¥-601.5M | ¥-394.8M |
| FY2018 | ¥-208.9M | ¥-927.0M |
| FY2017 | ¥-133.6M | ¥-918.6M |
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