Youdao Inc - Understand $dao stock

$DAO Market Cap: $541.4 Million

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Financial Snapshot

Revenue

$5.618B

TTM

Gross Margin

50.43%

TTM

Net Earnings

-$333.2M

TTM

Current Assets

$1.124B

Q1 2024

Current Liabilities

$2.694B

Q1 2024

Current Ratio

41.71%

Q1 2024

Total Assets

$1.494B

Q1 2024

Total Liabilities

$3.700B

Q1 2024

Book Value

-$2.206B

Q1 2024

Cash

$262.9M

Q1 2024

P/E

-1.625

Oct 16, 2024 EST

Free Cash Flow

-$245.9M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017
Revenue	$5.389B	$5.013B	$4.016B	$3.168B	$1.305B	$731.6M	$455.7M
YoY Change	7.5%	24.84%	26.78%	142.74%	78.36%	60.54%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017
Revenue	$5.389B	$5.013B	$4.016B	$3.168B	$1.305B	$731.6M	$455.7M
Cost Of Revenue	$2.622B	$2.427B	$2.027B	$1.713B	$934.3M	$515.1M	$293.8M
Gross Profit	$2.767B	$2.586B	$1.989B	$1.454B	$370.6M	$216.5M	$161.9M
Gross Profit Margin	51.35%	51.59%	49.53%	45.91%	28.4%	29.59%	35.53%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017
Selling, General & Admin	$2.490B	$2.557B	$2.268B	$2.836B	$696.2M	$251.6M	$158.9M
YoY Change	-2.62%	12.76%	-20.02%	307.28%	176.71%	58.34%
% of Gross Profit	89.99%	98.87%	114.03%	194.97%	187.86%	116.21%	98.15%
Research & Development	$743.4M	$803.8M	$607.4M	$424.6M	$275.4M	$184.0M	$133.1M
YoY Change	-7.52%	32.34%	43.05%	54.18%	49.67%	38.24%
% of Gross Profit	26.86%	31.08%	30.54%	29.2%	74.31%	84.99%	82.21%
Depreciation & Amortization	$29.64M	$42.21M	$30.10M	$16.11M	$10.58M	$6.400M	$3.330M
YoY Change	-29.78%	40.24%	86.83%	52.27%	65.31%	92.19%
% of Gross Profit	1.07%	1.63%	1.51%	1.11%	2.85%	2.96%	2.06%
Operating Expenses	$3.234B	$3.361B	$2.875B	$3.260B	$971.5M	$435.6M	$292.0M
YoY Change	-3.79%	16.9%	-11.8%	235.57%	123.03%	49.18%
Operating Profit	-$466.3M	-$774.7M	-$886.5M	-$1.806B	-$600.9M	-$219.1M	-$130.1M
YoY Change	-39.8%	-12.61%	-50.91%	200.52%	174.26%	68.41%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017
Interest Expense	-$61.12M	-$32.70M	$10.94M	-$20.20M	-$14.00M	$15.50M	-$29.20M
YoY Change	86.93%	-398.87%	-154.16%	44.29%	-190.32%	-153.08%
% of Operating Profit
Other Income/Expense, Net	-$11.58M	$81.45M	$28.03M	$23.70M	$15.90M	$5.600M	$500.0K
YoY Change	-114.22%	190.56%	18.27%	49.06%	183.93%	1020.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017
Pretax Income	-$539.0M	-$725.9M	-$919.4M	-$1.750B	-$599.0M	-$198.0M	-$158.8M
YoY Change	-25.75%	-21.05%	-47.47%	192.22%	202.53%	24.69%
Income Tax	$11.09M	$13.84M	$6.648M	$2.900M	$2.400M	$11.30M	$5.200M
% Of Pretax Income
Net Earnings	-$549.9M	-$727.0M	-$995.7M	-$1.753B	-$601.5M	-$208.9M	-$133.6M
YoY Change	-24.36%	-26.98%	-43.2%	191.4%	187.94%	56.36%
Net Earnings / Revenue	-10.2%	-14.5%	-24.79%	-55.34%	-46.1%	-28.55%	-29.32%
Basic Earnings Per Share	-$4.53	-$5.88	-$8.18	-$15.53
Diluted Earnings Per Share	-$4.53	-$5.88	-$8.185M	-$15.53M	-$6.305M	-$1.869M	-$1.195M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017
Cash & Short-Term Investments	$526.7M	$1.016B	$826.9M	$1.195B	$1.620B	$435.4M	$40.10M
YoY Change	-48.17%	22.88%	-30.78%	-26.27%	272.12%	985.79%
Cash & Equivalents	$454.5M	$783.6M	$322.8M	$609.2M	$173.3M	$41.70M	$39.80M
Short-Term Investments	$72.13M	$232.4M	$504.1M	$585.3M	$1.447B	$393.6M	$300.0K
Other Short-Term Assets	$176.1M	$208.6M	$930.9M	$235.5M	$114.7M	$39.90M	$29.00M
YoY Change	-15.6%	-77.59%	295.27%	105.32%	187.47%	37.59%
Inventory	$217.1M	$232.3M	$255.4M	$148.7M	$73.20M	$23.80M	$1.500M
Prepaid Expenses
Receivables	$354.0M	$405.1M	$248.3M	$268.8M	$200.7M	$80.60M	$65.10M
Other Receivables	$26.12M	$7.888M	$8.173M	$4.200M	$21.20M	$15.40M	$9.300M
Total Short-Term Assets	$1.300B	$1.870B	$2.270B	$1.852B	$2.030B	$595.1M	$145.0M
YoY Change	-30.48%	-17.61%	22.58%	-8.78%	241.1%	310.41%
Property, Plant & Equipment	$159.9M	$170.5M	$198.4M	$151.5M	$48.40M	$18.40M	$13.30M
YoY Change	-6.21%	-14.06%	30.97%	213.02%	163.04%	38.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$51.40M	$90.70M	$32.52M	$42.50M
YoY Change	-43.34%	178.93%	-23.49%
Other Assets	$44.98M	$35.02M	$23.52M	$24.70M	$8.100M	$6.200M	$3.500M
YoY Change	28.45%	48.85%	-4.76%	204.94%	30.65%	77.14%
Total Long-Term Assets	$366.2M	$406.2M	$364.4M	$218.6M	$56.60M	$24.50M	$16.90M
YoY Change	-9.83%	11.46%	66.7%	286.22%	131.02%	44.97%
Total Assets	$1.666B	$2.276B	$2.634B	$2.070B	$2.087B	$619.6M	$161.9M
YoY Change
Accounts Payable	$159.0M	$282.4M	$161.0M	$141.3M	$62.70M	$34.60M	$19.90M
YoY Change	-43.69%	75.37%	13.95%	125.36%	81.21%	73.87%
Accrued Expenses	$874.4M	$831.3M	$765.6M	$846.7M	$291.7M	$153.3M	$102.1M
YoY Change	5.2%	8.58%	-9.58%	190.26%	90.28%	50.15%
Deferred Revenue
YoY Change
Short-Term Debt	$878.0M	$878.0M	$878.0M	$878.0M	$878.0M	$878.0M	$878.0M
YoY Change	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$3.099B	$3.179B	$3.034B	$3.394B	$1.759B	$1.300B	$1.120B
YoY Change	-2.5%	4.77%	-10.6%	92.96%	35.24%	16.12%
Long-Term Debt	$630.4M	$522.3M	$255.0M	$0.00	$0.00	$0.00	$0.00
YoY Change	20.68%	104.82%
Other Long-Term Liabilities	$65.65M	$52.47M	$75.48M	$83.80M	$26.70M
YoY Change	25.13%	-30.49%	-9.93%	213.86%
Total Long-Term Liabilities	$696.0M	$574.8M	$330.5M	$83.80M	$26.70M	$0.00	$0.00
YoY Change	21.08%	73.92%	294.4%	213.86%
Total Liabilities	$3.853B	$3.811B	$3.441B	$3.478B	$1.786B	$1.301B	$876.8M
YoY Change	1.09%	10.76%	-1.07%	94.72%	37.28%	48.41%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020
Basic Shares Outstanding	121.4M	123.6M	121.7M	112.9M
Diluted Shares Outstanding	121.4M	123.6M	121.7M	112.9M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $541.42 Million

About Youdao Inc

Youdao, Inc engages in the provision of learning content, applications, and solutions. The company is headquartered in Hangzhou, Zhejiang and currently employs 4,364 full-time employees. The company went IPO on 2019-10-25. The firm primarily operates its businesses through three segments. Learning Services segment mainly provides digital content services, science, technology, engineering, the arts and mathematics (STEAM) courses, and adult and vocational courses through the Youdao Lingshi, Youdao Literature, Youdao Premium Courses, NetEase Cloud Classroom and China University MOOC and others. Smart Devices segment mainly develops and offers smart devices, such as Youdao Dictionary Pen, Youdao Listening Pod, and Youdao Smart Learning Pad. The firm also provides education digitalization solutions, including Youdao Smart Learning Terminal, Youdao Smart Cloud, and Youdao Sports. Online Marketing Services segment mainly offers online marketing services, including performance-based advertising services and brand advertising services.

Industry: Services-Educational Services Peers: 17 Education & Technology Group Inc ATA Creativity Global Gaotu Techedu Inc NaaS Technology Inc TCTM Kids IT Education Inc