DAO vs YQ
Youdao, Inc. and 17 Education & Technology Group Inc., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | DAO | YQ |
|---|---|---|
| Revenue | CNY 5.9B | CNY 106.0M |
| Net income | CNY 97.0M | CNY -154.4M |
| Gross margin | 44.3% | 47.8% |
| Net margin | 1.6% | −145.6% |
| Return on equity | · | −45.4% |
| Diluted EPS | CNY 0.90 | −CNY 0.31 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY 29.6M | CNY 30.5M |
| Equity | · | CNY 286.6M |
| Net debt / equity | · | · |
| Current ratio | 0.59× | 1.87× |
| Revenue CAGR 5y | 18.5% | −39.4% |
| Profit CAGR 5y | · | · |
DAO bills 55.7× the revenue of YQ, and YQ closed the last reported year at a loss.
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.
8 years side by side
| Fiscal year | DAO | YQ |
|---|---|---|
| FY2025 | CNY 5.9B | CNY 106.0M |
| FY2024 | CNY 5.6B | CNY 189.2M |
| FY2023 | CNY 5.4B | CNY 171.0M |
| FY2022 | CNY 5.0B | CNY 531.1M |
| FY2021 | CNY 4.0B | CNY 2.2B |
| FY2020 | CNY 2.5B | CNY 1.3B |
| FY2019 | CNY 1.2B | CNY 406.2M |
| FY2018 | CNY 731.6M | CNY 310.7M |
Bottom line
| Fiscal year | DAO | YQ |
|---|---|---|
| FY2025 | CNY 97.0M | CNY -154.4M |
| FY2024 | CNY 75.2M | CNY -192.9M |
| FY2023 | CNY -550.1M | CNY -311.8M |
| FY2022 | CNY -745.9M | CNY -177.9M |
| FY2021 | CNY -1.0B | CNY -1.4B |
| FY2020 | CNY -1.8B | CNY -1.3B |
| FY2019 | CNY -601.5M | CNY -963.8M |
| FY2018 | CNY -208.9M | CNY -656.1M |
8 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 5,802,995,000 | DAO |
| FY2024 | +CNY 5,436,707,000 | DAO |
| FY2023 | +CNY 5,218,246,000 | DAO |
| FY2022 | +CNY 4,482,118,000 | DAO |
| FY2021 | +CNY 1,831,274,000 | DAO |
| FY2020 | +CNY 1,232,435,000 | DAO |
| FY2019 | +CNY 801,165,000 | DAO |
| FY2018 | +CNY 420,892,000 | DAO |
DAO has reported the higher revenue in every one of these 8 fiscal years. The gap has widened since the earliest year compared.
8 of 9 comparable fiscal years — a year missing data on either side is not counted.
8 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +147.3 pp | DAO |
| FY2024 | +103.3 pp | DAO |
| FY2023 | +172.2 pp | DAO |
| FY2022 | +18.6 pp | DAO |
| FY2021 | +40.4 pp | DAO |
| FY2020 | +34.1 pp | DAO |
| FY2019 | +187.4 pp | DAO |
| FY2018 | +182.5 pp | DAO |
DAO has kept the higher net margin in every one of these 8 fiscal years.
8 of 9 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
YQ's net margin has been more volatile than DAO's over the 8 comparable fiscal years — 66.9 percentage points of standard deviation against 23.2.
8 of 9 comparable fiscal years — a year missing data on either side is not counted.
Year by year
DAO led in net margin in every one of the 8 comparable fiscal years — a structural lead, not a recent swing.
8 of 9 comparable fiscal years — a year missing data on either side is not counted.