Sunlands Technology Group STG
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Market cap
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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 EPS7.76
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $288.8M | $272.7M | $304.2M | $336.8M | $393.5M | $337.7M | $315.1M | $287.1M |
| Cost of revenue | $37.8M | $43.5M | $37.4M | $50.5M | $59.0M | $59.4M | $56.9M | $48.1M |
| Gross profit | $251.0M | $229.2M | $266.8M | $286.3M | $334.5M | $278.4M | $258.2M | $239.1M |
| R&D | $4.2M | $3.4M | $4.8M | $6.2M | $9.6M | $10.2M | $14.6M | $11.1M |
| SG&A | $20.6M | $18.2M | $20.2M | $26.9M | $32.6M | $42.2M | $52.2M | $64.5M |
| Total operating expenses | $197.2M | $188.3M | $185.8M | $196.9M | $316.6M | $377.9M | $324.2M | $388.7M |
| Operating income | $53.8M | $40.8M | $81.0M | $89.4M | $17.9M | -$99.5M | -$66.0M | -$149.7M |
| Interest expense | $122.0K | $725.0K | $1.1M | $1.5M | $1.7M | $1.8M | $2.1M | $316.0K |
| Pre-tax income | $61.4M | $48.9M | $95.2M | $94.0M | $31.0M | -$66.3M | -$56.4M | -$135.1M |
| Income tax | $8.5M | $178.0K | $3.5M | $1.7M | $3.1M | $36.0K | $350.0K | $0 |
| Net income | $52.3M | $46.9M | $90.3M | $93.4M | $34.4M | -$66.0M | -$56.7M | -$134.8M |
| EPS, basic | 7.76 | 6.87 | 13.08 | 13.65 | — | — | — | — |
| EPS, diluted | 7.76 | 6.87 | 13.08 | 13.65 | 5.11 | -9.77 | -8.30 | -21.42 |
| Shares, diluted (wtd. avg.) | 6.7M | 6.8M | 6.9M | 6.8M | 6.7M | 6.8M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $82.3M | $69.5M | $107.6M | $109.3M | $98.3M | $116.6M | $201.4M | $181.6M |
| Short-term investments | $33.7M | $37.8M | $20.0M | $10.2M | $28.9M | $79.4M | $31.3M | $149.6M |
| Total current assets | $131.2M | $121.2M | $145.3M | $140.5M | $176.8M | $238.2M | $293.6M | $375.7M |
| Property, plant and equipment | $94.7M | $103.9M | $110.8M | $118.0M | $134.6M | $78.3M | $78.4M | $81.4M |
| Other intangibles | $36.0K | $99.0K | $137.0K | $219.0K | $433.0K | $186.0K | $169.0K | $199.0K |
| Total assets | $292.8M | $290.6M | $298.4M | $330.0M | $406.8M | $499.8M | $570.1M | $543.8M |
| Short-term debt | $0 | $843.0K | $5.4M | $5.6M | $6.1M | $5.0M | $4.7M | $4.7M |
| Total current liabilities | $108.6M | $109.8M | $142.3M | $214.3M | $299.1M | $336.5M | $321.7M | $336.6M |
| Long-term debt | $0 | $4.8M | $14.7M | $20.8M | $28.6M | $24.6M | $27.7M | $32.8M |
| Total liabilities | $157.8M | $208.4M | $259.6M | $385.1M | $566.0M | $685.5M | $676.1M | $593.1M |
| Retained earnings | -$212.5M | -$252.1M | -$305.8M | -$407.7M | -$542.3M | -$563.2M | -$466.1M | -$414.5M |
| Total equity | $135.2M | $82.4M | $39.0M | -$54.3M | -$158.4M | -$185.7M | -$106.0M | -$49.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $21.0M | $26.8M | $19.8M | $1.3M | -$58.6M | -$28.9M | -$76.6M | $26.3M |
| Depreciation and amortisation | $4.1M | $4.0M | $4.3M | $6.8M | $6.0M | $6.2M | $5.3M | $3.7M |
| Stock-based compensation | — | — | — | $1.0M | $120.0K | $4.6M | $427.0K | $560.0K |
| Capital expenditure | $30.0K | $35.0K | $812.0K | $470.0K | $2.1M | $1.9M | $3.6M | $75.3M |
| Investing cash flow | -$1.8M | -$49.2M | -$10.1M | $13.9M | $53.8M | -$53.5M | $104.8M | -$172.6M |
| Financing cash flow | -$6.8M | -$15.4M | -$10.5M | -$9.8M | -$6.1M | -$9.1M | -$9.2M | $230.9M |
| Dividends paid | $0 | — | $4.4M | $4.7M | — | — | — | — |
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 0001193125-26-175368.
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 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $287.1M | $315.1M | $337.7M | $393.5M | $336.8M | $304.2M | $272.7M | $288.8M |
| Gross profit | $239.1M | $258.2M | $278.4M | $334.5M | $286.3M | $266.8M | $229.2M | $251.0M |
| Net income | -$134.8M | -$56.7M | -$66.0M | $34.4M | $93.4M | $90.3M | $46.9M | $52.3M |
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