Gaotu Techedu Inc. GOTU
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.28
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $879.0M | $623.8M | $417.0M | $362.2M | $1.03B | $1.09B | $303.8M | — | — |
| Cost of revenue | $286.2M | $199.3M | $111.3M | $101.6M | $376.2M | $270.1M | $77.0M | — | — |
| Gross profit | $592.7M | $424.5M | $305.7M | $260.6M | $653.4M | $821.8M | $226.8M | — | — |
| R&D | $89.7M | $88.8M | $65.1M | $64.5M | $196.6M | $112.6M | $30.5M | — | — |
| SG&A | $104.7M | $91.6M | $50.2M | $42.1M | $113.0M | $86.8M | $15.8M | — | — |
| Total operating expenses | $664.7M | $586.4M | $326.7M | $277.7M | $1.15B | $1.09B | $195.8M | — | — |
| Operating income | -$72.0M | -$161.9M | -$21.0M | -$17.1M | -$499.1M | -$269.0M | $31.0M | — | — |
| Pre-tax income | -$46.8M | -$142.5M | $1.8M | -$367.0K | -$480.5M | -$218.8M | $34.8M | — | — |
| Income tax | $588.0K | $1.2M | $1.5M | $2.3M | $6.4M | $5.3M | $2.4M | — | — |
| Net income | -$46.2M | -$143.7M | -$1.0M | $1.9M | -$487.0M | -$213.5M | $32.6M | — | — |
| EPS, basic | -0.28 | -0.84 | -0.01 | 0.01 | -2.85 | -1.34 | 0.20 | — | — |
| EPS, diluted | -0.28 | -0.84 | -0.01 | 0.01 | -2.85 | -1.34 | 0.19 | — | — |
| Shares, diluted (wtd. avg.) | 163.1M | 171.4M | 173.7M | 176.0M | 170.8M | 159.7M | 139.5M | 92.2M | 92.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $85.3M | $189.7M | $91.8M | $115.5M | $130.1M | $55.7M | $11.3M | $4.8M | — |
| Short-term investments | $387.4M | $252.8M | $317.5M | $423.9M | $435.3M | $1.12B | $211.6M | — | — |
| Inventory | $7.9M | $5.0M | $3.5M | $3.3M | $2.4M | $7.4M | — | — | — |
| Total current assets | $569.2M | $498.7M | $505.2M | $604.1M | $617.8M | $1.30B | $259.8M | — | — |
| Property, plant and equipment | $144.3M | $91.8M | $75.1M | $80.0M | $106.7M | $107.9M | $11.8M | — | — |
| Goodwill | $1.6M | $45.0K | $47.0K | $48.0K | $52.0K | $6.7M | $48.0K | — | — |
| Other intangibles | $6.1M | $2.5M | $2.3M | $2.7M | $12.0K | $2.0M | $14.0K | — | — |
| Total assets | $886.5M | $798.4M | $762.4M | $707.0M | $788.5M | $1.64B | $487.6M | — | — |
| Accounts payable | $219.9M | $170.6M | $113.4M | $96.0M | $108.8M | $201.6M | $32.9M | — | — |
| Short-term debt | $14.3M | — | — | — | — | — | — | — | — |
| Total current liabilities | $607.1M | $446.7M | $277.9M | $233.3M | $276.2M | $643.3M | $235.2M | — | — |
| Long-term debt | $4.6M | — | — | — | — | — | — | — | — |
| Total liabilities | $707.3M | $533.6M | $324.9M | $258.1M | $336.4M | $759.5M | $263.9M | — | — |
| Retained earnings | -$886.8M | -$805.3M | -$678.0M | -$695.4M | -$754.7M | -$261.5M | -$40.2M | — | — |
| Total equity | $179.3M | $264.9M | $437.5M | $448.9M | $452.1M | $878.1M | $223.7M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $59.5M | $35.3M | $49.8M | $7.9M | -$656.8M | $92.5M | $184.6M | — | — |
| Depreciation and amortisation | $14.9M | $8.4M | $7.1M | $10.0M | $17.0M | $8.5M | $1.7M | — | — |
| Stock-based compensation | $5.6M | $7.3M | $8.2M | $17.8M | $50.4M | $36.5M | $8.7M | — | — |
| Capital expenditure | $24.2M | $24.4M | $5.7M | $2.7M | $42.7M | $43.5M | $8.8M | — | — |
| Investing cash flow | -$117.1M | $85.1M | -$59.7M | -$23.0M | $755.2M | -$857.7M | -$359.8M | — | — |
| Financing cash flow | -$30.6M | -$28.1M | -$12.7M | $0 | -$15.8M | $808.0M | $179.0M | — | — |
| Buybacks | $49.1M | $28.1M | $12.7M | $0 | $0 | $43.3M | $12.5M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-168211.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $303.8M | $1.09B | $1.03B | $362.2M | $417.0M | $623.8M | $879.0M |
| Gross profit | — | — | $226.8M | $821.8M | $653.4M | $260.6M | $305.7M | $424.5M | $592.7M |
| Net income | — | — | $32.6M | -$213.5M | -$487.0M | $1.9M | -$1.0M | -$143.7M | -$46.2M |
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