NYSE : GOTU
Gaotu Techedu Inc. — Financial statements
Consumer Staples · Education & Training Services · China
Last price 2.26 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 531.22M
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Financial statements
Gaotu Techedu Inc. (GOTU) reported revenue of 6.62B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.62B | 6.15B | 4.55B | 2.96B | 2.50B | 6.56B |
| Cost of Revenue | 2.15B | 2.00B | 1.45B | 790.21M | 701.05M | 2.40B |
| Gross Profit | 4.47B | 4.15B | 3.10B | 2.17B | 1.80B | 4.16B |
| Selling, General & Admin | 4.27B | 4.02B | 3.63B | 1.86B | 1.47B | 5.85B |
| Research & Development | 642.04M | 626.95M | 648.06M | 462.04M | 445.12M | 1.25B |
| Operating Expenses | 4.91B | 4.65B | 4.28B | 2.32B | 1.92B | 7.10B |
| Operating Income | -439.00M | -503.17M | -1.18B | -149.01M | -118.05M | -2.94B |
| Interest & Investment Income | 29.68M | 39.92M | 70.38M | 75.83M | 21.37M | 31.46M |
| Earnings From Equity Investments | -9.16M | -302.00K | ||||
| Other Non Operating Income (Expenses) | 1.20M | 64.93M | 32.97M | 52.41M | 51.88M | 20.91M |
| EBT Excluding Unusual Items | -408.12M | -398.32M | -1.08B | -29.94M | -44.80M | -2.89B |
| Impairment of Goodwill | -43.30M | |||||
| Gain (Loss) on Sale of Investments | 70.98M | 70.90M | 38.16M | 33.30M | 42.26M | 65.76M |
| Gain (Loss) on Sale of Assets | -146.25M | |||||
| Asset Writedown | -52.54M | |||||
| Pretax Income | -337.13M | -327.42M | -1.04B | 3.36M | -2.53M | -3.06B |
| Income Tax Expense | -4.50M | -4.11M | 8.63M | 10.66M | -15.71M | 40.95M |
| Net Income | -332.64M | -323.31M | -1.05B | -7.30M | 13.17M | -3.10B |
| Net Income to Common | -332.64M | -323.31M | -1.05B | -7.30M | 13.17M | -3.10B |
| Shares Outstanding (Basic) | 239.84M | 244.68M | 257.12M | 260.59M | 258.38M | 256.19M |
| Shares Outstanding (Diluted) | 239.84M | 244.68M | 257.12M | 260.59M | 263.99M | 256.19M |
| EPS (Basic) | -1.39 | -1.32 | -4.08 | -0.03 | 0.05 | -12.11 |
| EPS (Diluted) | -1.39 | -1.32 | -4.08 | -0.03 | 0.05 | -12.11 |
| Free Cash Flow | 85.53M | 78.09M | 312.90M | 20.59M | -4.46B | |
| Free Cash Flow Per Share | 0.35 | 0.30 | 1.20 | 0.08 | -17.40 | |
| Gross Margin | 67.53% | 67.44% | 68.05% | 73.31% | 71.94% | 63.46% |
| Operating Margin | -6.63% | -8.19% | -25.95% | -5.03% | -4.72% | -44.78% |
| Profit Margin | -5.02% | -5.26% | -23.04% | -0.25% | 0.53% | -47.30% |
| Free Cash Flow Margin | 1.39% | 1.71% | 10.57% | 0.82% | -67.94% | |
| EBITDA | -302.22M | -390.32M | -1.12B | -94.76M | -47.30M | -2.83B |
| EBITDA Margin | -4.56% | -6.35% | -24.53% | -3.20% | -1.89% | -43.06% |
| D&A For EBITDA | 136.78M | 112.85M | 64.97M | 54.24M | 70.76M | 112.56M |
| EBIT | -439.00M | -503.17M | -1.18B | -149.01M | -118.05M | -2.94B |
| EBIT Margin | -6.63% | -8.19% | -25.95% | -5.03% | -4.72% | -44.78% |
| Effective Tax Rate | 317.27% | |||||
| Advertising Expenses | 1.69B | 1.57B | 775.23M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 872.54M | 596.20M | 1.32B | 636.05M | 819.91M | 728.93M |
| Short-Term Investments | 2.42B | 2.71B | 1.85B | 2.25B | 2.92B | 2.77B |
| Cash & Short-Term Investments | 3.29B | 3.30B | 3.17B | 2.89B | 3.74B | 3.50B |
| Accounts Receivable | 71.70M | 24.55M | 49.97M | |||
| Other Receivables | 7.50M | 228.37M | 154.06M | 334.16M | 197.86M | 3.67M |
| Receivables | 7.50M | 228.37M | 154.06M | 405.86M | 222.40M | 53.64M |
| Inventory | 49.38M | 54.95M | 36.40M | 24.60M | 22.78M | 15.60M |
| Prepaid Expenses | 459.16M | 112.62M | 119.83M | 78.08M | 67.27M | 90.92M |
| Restricted Cash | 57.07M | 115.83M | 5.22M | 33.90M | 22.00K | 168.19M |
| Other Current Assets | 163.79M | 157.94M | 154.31M | 110.23M | 105.51M | |
| Total Current Assets | 3.87B | 3.98B | 3.64B | 3.59B | 4.17B | 3.94B |
| Property, Plant & Equipment | 1.63B | 1.49B | 1.17B | 723.19M | 635.70M | 1.03B |
| Long-Term Investments | 642.91M | 551.64M | 922.74M | 1.03B | ||
| Goodwill | 11.06M | 331.00K | 331.00K | 331.00K | 331.00K | |
| Other Intangible Assets | 77.16M | 120.49M | 43.75M | 42.80M | 46.30M | 28.25M |
| Long-Term Deferred Tax Assets | 11.31M | 15.68M | ||||
| Other Long-Term Assets | 96.30M | 50.12M | 47.61M | 19.34M | 11.69M | 25.41M |
| Total Assets | 6.31B | 6.20B | 5.83B | 5.41B | 4.88B | 5.02B |
| Accrued Expenses | 1.45B | 1.33B | 1.11B | 706.09M | 573.93M | 606.54M |
| Short-Term Debt | 531.96M | 281.76M | ||||
| Current Portion of Leases | 149.18M | 136.71M | 147.63M | 50.49M | 38.33M | 80.01M |
| Current Income Taxes Payable | 288.00K | 222.00K | 665.00K | 4.28M | 1.79M | |
| Current Unearned Revenue | 2.37B | 2.29B | 1.87B | 1.11B | 906.91M | 986.99M |
| Other Current Liabilities | 203.80M | 135.05M | 98.94M | 88.26M | 86.73M | |
| Total Current Liabilities | 4.50B | 4.25B | 3.26B | 1.97B | 1.61B | 1.76B |
| Long-Term Debt | 155.17M | 31.88M | ||||
| Long-Term Leases | 287.88M | 316.70M | 344.61M | 137.65M | 44.20M | 276.04M |
| Long-Term Unearned Revenue | 244.22M | 276.62M | 218.80M | 124.14M | 52.42M | 9.22M |
| Long-Term Deferred Tax Liabilities | 73.67M | 75.25M | 70.60M | 71.97M | 74.51M | 71.62M |
| Other Long-Term Liabilities | 26.58M | |||||
| Total Liabilities | 5.26B | 4.95B | 3.89B | 2.31B | 1.78B | 2.14B |
| Common Stock | 116.00K | 116.00K | 116.00K | 116.00K | 115.00K | 114.00K |
| Additional Paid-In Capital | 7.92B | 7.93B | 7.99B | 7.99B | 7.92B | 7.79B |
| Retained Earnings | -6.24B | -6.14B | -5.81B | -4.76B | -4.76B | -4.77B |
| Treasury Stock | -550.66M | -496.13M | -242.87M | -85.18M | ||
| Comprehensive Income & Other | -82.45M | -48.07M | -2.83M | -33.21M | -64.06M | -143.11M |
| Total Common Equity | 1.05B | 1.25B | 1.93B | 3.11B | 3.10B | 2.88B |
| Shareholders' Equity | 1.05B | 1.25B | 1.93B | 3.11B | 3.10B | 2.88B |
| Total Liabilities & Equity | 6.31B | 6.20B | 5.83B | 5.41B | 4.88B | 5.02B |
| Total Debt | 1.12B | 767.05M | 492.24M | 188.15M | 82.52M | 356.05M |
| Net Cash (Debt) | 2.17B | 2.54B | 2.67B | 2.70B | 3.66B | 3.15B |
| Net Cash Per Share | 9.04 | 10.37 | 10.40 | 10.37 | 13.87 | 12.28 |
| Filing Date Shares Outstanding | 235.05M | 238.45M | 249.82M | 258.22M | 259.35M | 257.08M |
| Total Common Shares Outstanding | 235.05M | 239.97M | 252.93M | 258.17M | 259.29M | 257.01M |
| Working Capital | -634.06M | -264.95M | 379.21M | 1.61B | 2.56B | 2.18B |
| Book Value Per Share | 4.45 | 5.22 | 7.64 | 12.03 | 11.94 | 11.21 |
| Tangible Book Value | 969.30M | 1.12B | 1.89B | 3.06B | 3.05B | 2.85B |
| Tangible Book Value Per Share | 4.12 | 4.68 | 7.47 | 11.86 | 11.76 | 11.10 |
| Buildings | 629.03M | 489.93M | 489.93M | 491.08M | 491.08M | |
| Machinery | 214.13M | 171.44M | 107.11M | 102.00M | 208.15M | |
| Construction In Progress | 173.44M | 786.00K | 786.00K | 870.00K | 10.18M | |
| Leasehold Improvements | 264.95M | 203.86M | 96.38M | 76.52M | 81.38M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -323.31M | -1.05B | -7.30M | 13.17M | -3.10B | |
| Depreciation & Amortization | 112.85M | 64.97M | 54.24M | 70.76M | 112.56M | |
| Loss (Gain) From Sale of Assets | 9.24M | 4.83M | 2.72M | -21.37M | 146.25M | |
| Asset Writedown & Restructuring Costs | 582.00K | 95.84M | ||||
| Loss (Gain) From Sale of Investments | -70.90M | -38.16M | -33.30M | -29.03M | -65.76M | |
| Loss (Gain) on Equity Investments | 9.16M | 302.00K | ||||
| Stock-Based Compensation | 39.22M | 53.22M | 58.35M | 122.65M | 320.89M | |
| Provision & Write-off of Bad Debts | 1.57M | 1.80M | 10.81M | |||
| Other Operating Activities | 3.52M | 26.89M | 1.45M | 4.96M | ||
| Change in Unearned Revenue | 480.05M | 848.27M | 278.29M | -36.88M | -1.74B | |
| Change in Income Taxes | -443.00K | -3.61M | 2.48M | 1.79M | -4.65M | |
| Change in Other Net Operating Assets | 166.64M | 340.03M | -25.05M | -48.75M | 3.55M | |
| Operating Cash Flow | 416.09M | 258.01M | 353.70M | 54.55M | -4.19B | |
| Capital Expenditures | -330.56M | -179.91M | -40.80M | -33.95M | -272.32M | |
| Sale of Property, Plant & Equipment | 128.00K | 350.00K | 92.00K | 22.00M | 8.91M | |
| Cash Acquisitions | -32.22M | |||||
| Investment in Securities | -456.13M | 621.19M | -282.07M | -68.43M | 5.07B | |
| Other Investing Activities | 7.94M | |||||
| Investing Cash Flow | -818.78M | 620.82M | -423.98M | -158.38M | 4.81B | |
| Short-Term Debt Issued | 102.50M | 400.00M | ||||
| Long-Term Debt Issued | 29.22M | |||||
| Total Debt Issued | 131.72M | 400.00M | ||||
| Short-Term Debt Repaid | -2.50M | -400.00M | ||||
| Total Debt Repaid | -2.50M | -400.00M | ||||
| Net Debt Issued (Repaid) | 129.22M | |||||
| Issuance of Common Stock | 12.00K | 7.00K | ||||
| Repurchase of Common Stock | -343.36M | -205.30M | -90.49M | |||
| Other Financing Activities | -100.62M | |||||
| Financing Cash Flow | -214.14M | -205.30M | -90.48M | -100.61M | ||
| Foreign Exchange Rate Adjustments | 2.51M | -17.14M | 10.78M | 26.65M | 15.82M | |
| Net Cash Flow | -614.32M | 656.39M | -149.98M | -77.19M | 541.90M | |
| Free Cash Flow | 85.53M | 78.09M | 312.90M | 20.59M | -4.46B | |
| Free Cash Flow Margin | 1.39% | 1.71% | 10.57% | 0.82% | -67.94% | |
| Free Cash Flow Per Share | 0.35 | 0.30 | 1.20 | 0.08 | -17.40 | |
| Levered Free Cash Flow | 18.97M | 613.10M | 56.52M | -12.54M | -3.68B | |
| Unlevered Free Cash Flow | 18.97M | 613.10M | 56.52M | -12.54M | -3.68B | |
| Cash Income Tax Paid | 691.00K | 3.29M | 1.44M | 20.22M | -84.83M | |
| Change in Working Capital | 643.32M | 1.19B | 257.55M | -101.63M | -1.70B |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 531.22M | 561.56M | 556.99M | 943.63M | 611.28M | 497.42M |
| Enterprise Value | 211.96M | 297.11M | 303.64M | 623.02M | 156.30M | -137.26M |
| Last Close Price | 2.32 | 2.19 | 3.62 | 2.36 | 1.94 | |
| PE Ratio | 320.08 | |||||
| Forward PE | 27.10 | 178.80 | 207.51 | 55.07 | 36.34 | 153.26 |
| PS Ratio | 0.54 | 0.64 | 0.89 | 2.26 | 1.69 | 0.48 |
| PB Ratio | 3.45 | 3.13 | 2.10 | 2.15 | 1.36 | 1.10 |
| P/TBV Ratio | 3.72 | 3.50 | 2.15 | 2.18 | 1.38 | 1.11 |
| P/FCF Ratio | 14.32 | 45.92 | 52.06 | 21.39 | 204.74 | |
| P/OCF Ratio | 9.44 | 15.76 | 18.92 | 77.30 | ||
| PEG Ratio | 0.30 | 0.30 | 0.30 | 37.66 | 37.66 | |
| EV/Sales Ratio | 0.22 | 0.34 | 0.49 | 1.49 | 0.43 | |
| EV/FCF Ratio | 5.71 | 24.30 | 28.38 | 14.12 | 52.35 | |
| Debt / Equity Ratio | 1.07 | 0.61 | 0.26 | 0.06 | 0.03 | 0.12 |
| Debt / FCF Ratio | 8.97 | 6.30 | 0.60 | 4.01 | ||
| Net Debt / Equity Ratio | -2.07 | -2.02 | -1.38 | -0.87 | -1.18 | -1.09 |
| Net Debt / EBITDA Ratio | 7.18 | 6.50 | 2.39 | 28.51 | 77.41 | 1.11 |
| Net Debt / FCF Ratio | -29.67 | -34.24 | -8.63 | -177.79 | 0.71 | |
| Asset Turnover | 1.09 | 1.02 | 0.81 | 0.58 | 0.51 | 0.83 |
| Inventory Turnover | 41.90 | 43.82 | 47.70 | 33.36 | 36.53 | 75.31 |
| Quick Ratio | 0.73 | 0.83 | 1.02 | 1.67 | 2.46 | 2.02 |
| Current Ratio | 0.86 | 0.94 | 1.12 | 1.82 | 2.59 | 2.24 |
| Return on Equity (ROE) | -25.10% | -20.29% | -41.63% | -0.24% | 0.44% | -72.08% |
| Return on Assets (ROA) | -4.51% | -5.23% | -13.14% | -1.81% | -1.49% | -23.38% |
| Return on Invested Capital (ROIC) | 80.05% | |||||
| Return on Capital Employed (ROCE) | -24.30% | -25.70% | -46.00% | -4.30% | -3.60% | -90.00% |
| Earnings Yield | -9.37% | -8.23% | -25.80% | -0.11% | 0.31% | -98.21% |
| FCF Yield | 6.98% | 2.18% | 1.92% | 4.68% | 0.49% | -141.08% |
| Buyback Yield / Dilution | 4.59% | 4.84% | 1.33% | 1.29% | -3.04% | -6.93% |