Sunlands Technology Group (STG) 10-Year Financial Performance & Capital Metrics

STG • • Industrial / General

Consumer DefensiveEducation & TrainingHigher Education & Professional TrainingProfessional Certification & Executive Education

AboutSunlands Technology Group, through its subsidiaries, provides online education services in the People's Republic of China. It offers various degree- and diploma-oriented post-secondary courses, including preparation courses for the self-taught higher education examination (STE) for learners pursuing associate diplomas or bachelor's degrees, as well as for the entrance examinations of Master of Business Administration programs. The company's STE courses include Chinese language and literature, law, pre-school education, marketing, English, human resource management, business administration, business management, modern corporate governance, financial management, advertising, accounting, administrative management, computer information management, finance, convention management, chain operation management, and visual communication and design. It also provides professional certification preparation courses in various industries and professions, such as accounting, human resources, teaching, and finance. The company was formerly known as Sunlands Online Education Group and changed its name to Sunlands Technology Group in August 2018. Sunlands Technology Group was founded in 2003 and is headquartered in Beijing, the People's Republic of China.Show more

Revenue $1.99B -7.8%
EBITDA $327M -45.9%
Net Income $342M -46.6%
EPS (Diluted) 25.06 -46.0%
Gross Margin 84.04% -4.2%
EBITDA Margin 16.45% -41.3%
Operating Margin 14.97% -43.8%
Net Margin 17.19% -42.1%
ROE 78.15% -66.4%
ROIC 447.39%
Debt/Equity 0.31 -72.2%
Interest Coverage 56.28 -25.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 155.4%
✓Healthy 5Y average net margin of 12.7%
✓Trading at only 0.1x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-1.93%

3Y-7.42%

TTM-0.75%

Profit (Net Income) CAGR

10Y-

5Y-

3Y16.02%

TTM-12.38%

EPS CAGR

10Y-

5Y-

3Y15.46%

TTM-10.9%

ROCE

10Y Avg-72.25%

5Y Avg26.91%

3Y Avg55.99%

Latest24.54%

Peer Comparison

Professional Certification & Executive Education

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GHCGraham Holdings Company	3.91B	1149.30	7.03	8.52%	14.93%	16.13%	8.3%	0.27
STGSunlands Technology Group	28.05M	5.49	0.22	-7.84%	18.94%	42.07%	100%	0.31
GNSGenius Group Limited	52.16M	0.62	-0.27	-65.69%	-314.46%	-31.33%		0.18
EEIQElite Education Group International Limited	6.69M	0.29	-0.61	42.73%	-65.06%	-92.4%		0.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	159.01M	418.91M	970.16M	1.97B	2.19B	2.2B	2.51B	2.32B	2.16B	1.99B
Revenue Growth %	-	1.63%	1.32%	1.03%	0.11%	0%	0.14%	-0.07%	-0.07%	-0.08%
Cost of Goods Sold+	61.71M	70.99M	170.26M	330.38M	396.32M	387.27M	376.19M	348.15M	265.53M	317.57M
COGS % of Revenue	0.39%	0.17%	0.18%	0.17%	0.18%	0.18%	0.15%	0.15%	0.12%	0.16%
Gross Profit+	97.3M	347.92M	799.9M	1.64B	1.8B	1.82B	2.13B	1.97B	1.89B	1.67B
Gross Margin %	0.61%	0.83%	0.82%	0.83%	0.82%	0.82%	0.85%	0.85%	0.88%	0.84%
Gross Profit Growth %	-	2.58%	1.3%	1.05%	0.09%	0.01%	0.17%	-0.07%	-0.04%	-0.12%
Operating Expenses+	414.46M	606.97M	1.73B	2.67B	2.26B	2.47B	2.02B	1.36B	1.32B	1.37B
OpEx % of Revenue	2.61%	1.45%	1.78%	1.35%	1.03%	1.12%	0.8%	0.58%	0.61%	0.69%
Selling, General & Admin	409.27M	593.03M	1.69B	2.6B	2.16B	2.4B	1.96B	1.32B	1.29B	1.35B
SG&A % of Revenue	2.57%	1.42%	1.75%	1.32%	0.98%	1.09%	0.78%	0.57%	0.6%	0.68%
Research & Development	5.19M	13.93M	32.86M	76.02M	101.72M	66.53M	61.33M	42.83M	33.72M	25.01M
R&D % of Revenue	0.03%	0.03%	0.03%	0.04%	0.05%	0.03%	0.02%	0.02%	0.02%	0.01%
Other Operating Expenses	770K	2.42M	276K	0	0	0	0	0	0	0
Operating Income+	-317.17M	-259.04M	-927.68M	-1.03B	-459.72M	-649.02M	114.27M	616.94M	574.89M	297.9M
Operating Margin %	-1.99%	-0.62%	-0.96%	-0.52%	-0.21%	-0.29%	0.05%	0.27%	0.27%	0.15%
Operating Income Growth %	-	0.18%	-2.58%	-0.11%	0.55%	-0.41%	1.18%	4.4%	-0.07%	-0.48%
EBITDA+	-313.42M	-253.57M	-919.57M	-1B	-422.5M	-608.75M	152.18M	663.63M	605.54M	327.37M
EBITDA Margin %	-1.97%	-0.61%	-0.95%	-0.51%	-0.19%	-0.28%	0.06%	0.29%	0.28%	0.16%
EBITDA Growth %	-	0.19%	-2.63%	-0.09%	0.58%	-0.44%	1.25%	3.36%	-0.09%	-0.46%
D&A (Non-Cash Add-back)	3.75M	5.47M	8.11M	25.78M	37.22M	40.27M	37.92M	46.68M	30.65M	29.47M
EBIT	-317.17M	-253.57M	-913.82M	-926.49M	-378.28M	-649.02M	208.56M	616.94M	683.74M	362.19M
Net Interest Income+	814K	3.05M	13.58M	68.18M	45.85M	14.12M	5.25M	6.19M	23.44M	33.53M
Interest Income	814K	3.05M	13.58M	70.36M	60.17M	25.81M	16.18M	16.25M	31.09M	38.82M
Interest Expense	0	0	0	2.17M	14.31M	11.69M	10.93M	10.06M	7.66M	5.29M
Other Income/Expense	1.58M	5.47M	8.96M	100.27M	67M	217.79M	78.48M	38.06M	91.1M	45.48M
Pretax Income+	-315.58M	-253.57M	-913.82M	-928.66M	-392.73M	-431.22M	192.75M	655M	666M	343.38M
Pretax Margin %	-1.98%	-0.61%	-0.94%	-0.47%	-0.18%	-0.2%	0.08%	0.28%	0.31%	0.17%
Income Tax+	1.91M	0	8.82M	102.44M	2.44M	-236K	-19.62M	11.99M	25.17M	1.3M
Effective Tax Rate %	1.01%	1%	1.01%	1%	1.01%	1%	1.14%	0.98%	0.96%	1%
Net Income+	-318.3M	-253.57M	-918.58M	-927.02M	-395.03M	-432.34M	219.06M	643.96M	640.83M	342.08M
Net Margin %	-2%	-0.61%	-0.95%	-0.47%	-0.18%	-0.2%	0.09%	0.28%	0.3%	0.17%
Net Income Growth %	-	0.2%	-2.62%	-0.01%	0.57%	-0.09%	1.51%	1.94%	-0%	-0.47%
Net Income (Continuing)	-315.58M	-253.57M	-918.71M	-926.95M	-395.17M	-430.99M	212.37M	643.01M	640.83M	342.08M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	64K	136K	-212K	-658K	-4.93M	-5.36M	-1.49M	-1.49M
EPS (Diluted)+	-41.68	-30.69	-111.17	-73.63	-28.92	-32.01	16.28	47.07	46.44	25.06
EPS Growth %	-	0.26%	-2.62%	0.34%	0.61%	-0.11%	1.51%	1.89%	-0.01%	-0.46%
EPS (Basic)	-41.68	-30.69	-111.17	-73.63	-28.92	-32.01	16.28	47.07	46.44	25.06
Diluted Shares Outstanding	7.64M	8.26M	8.26M	12.59M	13.66M	13.51M	13.46M	13.68M	13.8M	13.65M
Basic Shares Outstanding	7.64M	8.26M	8.26M	12.59M	13.66M	13.51M	13.46M	13.68M	13.8M	13.65M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.05%	0.05%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	92.25M	219.94M	1.27B	2.58B	2.04B	1.55B	1.13B	969.1M	1.03B	884.31M
Cash & Short-Term Investments	48.45M	168.1M	912.53M	2.28B	1.62B	1.28B	810.87M	824.18M	905.88M	783.26M
Cash Only	4.45M	23.1M	559.46M	1.25B	1.4B	760.71M	626.72M	753.64M	763.8M	507.23M
Short-Term Investments	44M	145M	353.07M	1.03B	217.64M	517.82M	184.16M	70.54M	142.08M	276.03M
Accounts Receivable	802K	4.87M	6.09M	3.89M	6.1M	21.06M	55.74M	26.81M	29.34M	24.53M
Days Sales Outstanding	1.84	4.25	2.29	0.72	1.02	3.49	8.11	4.21	4.96	4.5
Inventory	26.85M	33M	100.48M	165.14M	237.34M	132.39M	8.88M	14.15M	14.24M	19.68M
Days Inventory Outstanding	158.78	169.68	215.42	182.45	218.59	124.78	8.61	14.84	19.57	22.62
Other Current Assets	8.35M	14.74M	55.27M	179.51M	12.74M	36.59M	142.92M	49.71M	20.55M	9.36M
Total Non-Current Assets+	7.85M	25.05M	702.97M	1.16B	1.92B	1.71B	1.47B	1.31B	1.09B	1.24B
Property, Plant & Equipment	3.67M	16.45M	525.29M	559.51M	1.14B	999.97M	1.22B	1.09B	922.49M	868.37M
Fixed Asset Turnover	43.35x	25.47x	1.85x	3.53x	1.92x	2.20x	2.06x	2.13x	2.34x	2.29x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	696K	1.04M	1.55M	1.37M	1.18M	1.21M	2.76M	1.51M	975K	723K
Long-Term Investments	0	0	3.3M	30.01M	40.03M	64.09M	54.84M	73.51M	61.35M	260.08M
Other Non-Current Assets	3.48M	7.56M	9.69M	418.7M	653.13M	628.35M	149.18M	116.72M	101.93M	82.98M
Total Assets+	100.1M	244.99M	1.97B	3.74B	3.97B	3.26B	2.59B	2.28B	2.12B	2.12B
Asset Turnover	1.59x	1.71x	0.49x	0.53x	0.55x	0.68x	0.97x	1.02x	1.02x	0.94x
Asset Growth %	-	1.45%	7.04%	0.9%	0.06%	-0.18%	-0.2%	-0.12%	-0.07%	0%
Total Current Liabilities+	305.86M	587.11M	1.8B	2.31B	2.24B	2.2B	1.91B	1.48B	1.01B	801.38M
Accounts Payable	17.32M	6.69M	246.08M	0	0	0	0	0	0	0
Days Payables Outstanding	102.46	34.4	527.55	-	-	-	-	-	-	-
Short-Term Debt	0	0	0	32.5M	32.5M	32.5M	38.65M	38.65M	38.65M	6.15M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	385K	2.45M	10.11M	143.69M	61.34M	104.22M	19.88M	143.74M	112.34M
Current Ratio	0.30x	0.37x	0.70x	1.12x	0.91x	0.71x	0.59x	0.66x	1.02x	1.10x
Quick Ratio	0.21x	0.32x	0.65x	1.04x	0.81x	0.65x	0.59x	0.65x	1.01x	1.08x
Cash Conversion Cycle	58.16	139.53	-309.84	-	-	-	-	-	-	-
Total Non-Current Liabilities+	165.99M	546.83M	784.47M	1.76B	2.47B	2.28B	1.7B	1.18B	832.78M	719.92M
Long-Term Debt	0	0	0	225.63M	809.37M	160.63M	181.97M	143.32M	104.67M	35.39M
Capital Lease Obligations	0	0	0	0	616.25M	532.54M	404.13M	316.84M	157.27M	137.04M
Deferred Tax Liabilities	0	0	0	0	87.95M	15.22M	21.78M	5.98M	3.74M	5.72M
Other Non-Current Liabilities	0	335M	0	17.15M	-604.78M	7.66M	11.7M	6.77M	570.85M	7.31M
Total Liabilities	471.84M	1.13B	2.59B	4.08B	4.71B	4.47B	3.61B	2.66B	1.84B	1.52B
Total Debt+	24M	0	0	258.13M	1.5B	756.37M	639.07M	515.88M	308.61M	186.9M
Net Debt	19.55M	-23.1M	-559.46M	-990.68M	96.13M	-4.34M	12.36M	-237.76M	-455.19M	-320.33M
Debt / Equity	-	-	-	-	-	-	-	-	1.12x	0.31x
Debt / EBITDA	-	-	-	-	-	-	4.20x	0.78x	0.51x	0.57x
Net Debt / EBITDA	-	-	-	-	-	-	0.08x	-0.36x	-0.75x	-0.98x
Interest Coverage	-	-	-	-473.94x	-32.12x	-55.51x	10.46x	61.33x	75.08x	56.28x
Total Equity+	-371.74M	-888.96M	-617.06M	-338.98M	-738.36M	-1.21B	-1.01B	-379.85M	275.55M	599.86M
Equity Growth %	-	-1.39%	0.31%	0.45%	-1.18%	-0.64%	0.16%	0.63%	1.73%	1.18%
Book Value per Share	-48.68	-107.59	-74.68	-26.93	-54.05	-89.73	-75.37	-27.77	19.97	43.95
Total Shareholders' Equity	-371.74M	-888.96M	-617.12M	-339.12M	-738.15M	-1.21B	-1.01B	-374.49M	277.04M	601.35M
Common Stock	1K	1K	1K	2K	2K	2K	2K	2K	2K	2K
Retained Earnings	-372.66M	-919.87M	-1.92B	-2.85B	-3.24B	-3.68B	-3.46B	-2.81B	-2.17B	-1.84B
Treasury Stock	0	0	1.02B	0	0	0	0	0	0	0
Accumulated OCI	0	0	-8.76M	118.83M	142.44M	96.49M	82.53M	127.89M	143.28M	147.25M
Minority Interest	0	0	64K	136K	-212K	-658K	-4.93M	-5.36M	-1.49M	-1.49M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	445K	89.27M	819.54M	180.54M	-533.55M	-188.64M	-373.25M	62.65M	140.8M	195.52M
Operating CF Margin %	0%	0.21%	0.84%	0.09%	-0.24%	-0.09%	-0.15%	0.03%	0.07%	0.1%
Operating CF Growth %	-	199.61%	8.18%	-0.78%	-3.96%	0.65%	-0.98%	1.17%	1.25%	0.39%
Net Income	-318.3M	-253.57M	-918.71M	-926.95M	-395.17M	-430.99M	212.37M	4.41B	640.83M	342.08M
Depreciation & Amortization	3.75M	5.47M	8.11M	25.78M	37.22M	40.27M	37.92M	319.88M	30.65M	29.47M
Stock-Based Compensation	23.66M	0	288.76M	3.85M	2.97M	29.75M	768K	49.2M	0	0
Deferred Taxes	-23.66M	0	136K	-72K	-85.51M	72.5M	-26.25M	85.42M	0	0
Other Non-Cash Items	23.66M	313.97M	4.87M	-1.64M	87.47M	-65.34M	-2.4M	-121.66M	-37.74M	33.7M
Working Capital Changes	291.34M	337.37M	1.44B	1.08B	-180.53M	165.18M	-595.65M	-4.68B	-492.94M	-209.73M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-26.51M	-117.69M	-615.89M	-1.19B	729.55M	-349.31M	342.68M	659.04M	-71.82M	-358.86M
Capital Expenditures	-5.78M	-16.7M	-398.94M	-518.43M	-25.54M	-26.96M	-16.54M	-22.22M	-5.76M	-259K
CapEx % of Revenue	0.04%	0.04%	0.41%	0.26%	0.01%	0.01%	0.01%	0.01%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-115K	-824K	-217.01M	-668.96M	-31.73M	928K	11.39M	1.36M	1.9M	7.32M
Cash from Financing+	21.77M	47.08M	341.47M	1.59B	-64.15M	-59.08M	-38.9M	-465.33M	-74.66M	-112.73M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-43M	0	0	0	0	-32.56M	-31.25M	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	21.77M	-287.92M	669.55M	253.67M	0	0	-61.54M	-387.37M	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-5.33M	72.58M	420.6M	-337.88M	-559.08M	-215.6M	-389.79M	40.43M	134.44M	195.11M
FCF Margin %	-0.03%	0.17%	0.43%	-0.17%	-0.25%	-0.1%	-0.16%	0.02%	0.06%	0.1%
FCF Growth %	-	14.61%	4.8%	-1.8%	-0.65%	0.61%	-0.81%	1.1%	2.32%	0.45%
FCF per Share	-0.70	8.78	50.91	-26.84	-40.93	-15.96	-28.97	2.96	9.74	14.29
FCF Conversion (FCF/Net Income)	-0.00x	-0.35x	-0.89x	-0.19x	1.35x	0.44x	-1.70x	0.10x	0.22x	0.57x
Interest Paid	0	0	0	0	0	11.78M	0	10.19M	7.78M	5.51M
Taxes Paid	0	0	0	0	0	18K	0	13.62M	11.22M	8.87M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-	-	-	-	-	232.56%	78.15%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-	-	-	447.39%
Gross Margin	61.19%	83.05%	82.45%	83.26%	81.94%	82.43%	85%	85.01%	87.7%	84.04%
Net Margin	-200.18%	-60.53%	-94.68%	-46.96%	-18.01%	-19.62%	8.73%	27.72%	29.67%	17.19%
Debt / Equity	-	-	-	-	-	-	-	-	1.12x	0.31x
Interest Coverage	-	-	-	-473.94x	-32.12x	-55.51x	10.46x	61.33x	75.08x	56.28x
FCF Conversion	-0.00x	-0.35x	-0.89x	-0.19x	1.35x	0.44x	-1.70x	0.10x	0.22x	0.57x
Revenue Growth	-	163.45%	131.59%	103.47%	11.14%	0.45%	13.8%	-7.37%	-7.04%	-7.84%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Sales of products	-	-	-	-	-	-	245.42M
Sales of products Growth	-	-	-	-	-	-	-
Other Revenue	587K	8.1M	11.29M	28.98M	79.59M	176.01M	41.76M
Other Revenue Growth	-	1279.90%	39.33%	156.77%	174.65%	121.15%	-76.28%
Commissions	6.37M	15.38M	19.98M	50.47M	46.27M	-	-
Commissions Growth	-	141.31%	29.93%	152.51%	-8.31%	-	-

Frequently Asked Questions

Valuation & Price

Sunlands Technology Group (STG) has a price-to-earnings (P/E) ratio of 0.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Sunlands Technology Group (STG) reported $2.03B in revenue for fiscal year 2024. This represents a 1179% increase from $159.0M in 2015.

Sunlands Technology Group (STG) saw revenue decline by 7.8% over the past year.

Yes, Sunlands Technology Group (STG) is profitable, generating $385.1M in net income for fiscal year 2024 (17.2% net margin).

Dividend & Returns

Sunlands Technology Group (STG) has a return on equity (ROE) of 78.2%. This is excellent, indicating efficient use of shareholder capital.

Sunlands Technology Group (STG) generated $195.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Sunlands Technology Group (STG) 10-Year Financial Performance & Capital Metrics

STG • • Industrial / General

Consumer DefensiveEducation & TrainingHigher Education & Professional TrainingProfessional Certification & Executive Education

Revenue $1.99B -7.8%
EBITDA $327M -45.9%
Net Income $342M -46.6%
EPS (Diluted) 25.06 -46.0%
Gross Margin 84.04% -4.2%
EBITDA Margin 16.45% -41.3%
Operating Margin 14.97% -43.8%
Net Margin 17.19% -42.1%
ROE 78.15% -66.4%
ROIC 447.39%
Debt/Equity 0.31 -72.2%
Interest Coverage 56.28 -25.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 155.4%
✓Healthy 5Y average net margin of 12.7%
✓Trading at only 0.1x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-1.93%

3Y-7.42%

TTM-0.75%

Profit (Net Income) CAGR

10Y-

5Y-

3Y16.02%

TTM-12.38%

EPS CAGR

10Y-

5Y-

3Y15.46%

TTM-10.9%

ROCE

10Y Avg-72.25%

5Y Avg26.91%

3Y Avg55.99%

Latest24.54%

Peer Comparison

Professional Certification & Executive Education

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GHCGraham Holdings Company	3.91B	1149.30	7.03	8.52%	14.93%	16.13%	8.3%	0.27
STGSunlands Technology Group	28.05M	5.49	0.22	-7.84%	18.94%	42.07%	100%	0.31
GNSGenius Group Limited	52.16M	0.62	-0.27	-65.69%	-314.46%	-31.33%		0.18
EEIQElite Education Group International Limited	6.69M	0.29	-0.61	42.73%	-65.06%	-92.4%		0.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	159.01M	418.91M	970.16M	1.97B	2.19B	2.2B	2.51B	2.32B	2.16B	1.99B
Revenue Growth %	-	1.63%	1.32%	1.03%	0.11%	0%	0.14%	-0.07%	-0.07%	-0.08%
Cost of Goods Sold+	61.71M	70.99M	170.26M	330.38M	396.32M	387.27M	376.19M	348.15M	265.53M	317.57M
COGS % of Revenue	0.39%	0.17%	0.18%	0.17%	0.18%	0.18%	0.15%	0.15%	0.12%	0.16%
Gross Profit+	97.3M	347.92M	799.9M	1.64B	1.8B	1.82B	2.13B	1.97B	1.89B	1.67B
Gross Margin %	0.61%	0.83%	0.82%	0.83%	0.82%	0.82%	0.85%	0.85%	0.88%	0.84%
Gross Profit Growth %	-	2.58%	1.3%	1.05%	0.09%	0.01%	0.17%	-0.07%	-0.04%	-0.12%
Operating Expenses+	414.46M	606.97M	1.73B	2.67B	2.26B	2.47B	2.02B	1.36B	1.32B	1.37B
OpEx % of Revenue	2.61%	1.45%	1.78%	1.35%	1.03%	1.12%	0.8%	0.58%	0.61%	0.69%
Selling, General & Admin	409.27M	593.03M	1.69B	2.6B	2.16B	2.4B	1.96B	1.32B	1.29B	1.35B
SG&A % of Revenue	2.57%	1.42%	1.75%	1.32%	0.98%	1.09%	0.78%	0.57%	0.6%	0.68%
Research & Development	5.19M	13.93M	32.86M	76.02M	101.72M	66.53M	61.33M	42.83M	33.72M	25.01M
R&D % of Revenue	0.03%	0.03%	0.03%	0.04%	0.05%	0.03%	0.02%	0.02%	0.02%	0.01%
Other Operating Expenses	770K	2.42M	276K	0	0	0	0	0	0	0
Operating Income+	-317.17M	-259.04M	-927.68M	-1.03B	-459.72M	-649.02M	114.27M	616.94M	574.89M	297.9M
Operating Margin %	-1.99%	-0.62%	-0.96%	-0.52%	-0.21%	-0.29%	0.05%	0.27%	0.27%	0.15%
Operating Income Growth %	-	0.18%	-2.58%	-0.11%	0.55%	-0.41%	1.18%	4.4%	-0.07%	-0.48%
EBITDA+	-313.42M	-253.57M	-919.57M	-1B	-422.5M	-608.75M	152.18M	663.63M	605.54M	327.37M
EBITDA Margin %	-1.97%	-0.61%	-0.95%	-0.51%	-0.19%	-0.28%	0.06%	0.29%	0.28%	0.16%
EBITDA Growth %	-	0.19%	-2.63%	-0.09%	0.58%	-0.44%	1.25%	3.36%	-0.09%	-0.46%
D&A (Non-Cash Add-back)	3.75M	5.47M	8.11M	25.78M	37.22M	40.27M	37.92M	46.68M	30.65M	29.47M
EBIT	-317.17M	-253.57M	-913.82M	-926.49M	-378.28M	-649.02M	208.56M	616.94M	683.74M	362.19M
Net Interest Income+	814K	3.05M	13.58M	68.18M	45.85M	14.12M	5.25M	6.19M	23.44M	33.53M
Interest Income	814K	3.05M	13.58M	70.36M	60.17M	25.81M	16.18M	16.25M	31.09M	38.82M
Interest Expense	0	0	0	2.17M	14.31M	11.69M	10.93M	10.06M	7.66M	5.29M
Other Income/Expense	1.58M	5.47M	8.96M	100.27M	67M	217.79M	78.48M	38.06M	91.1M	45.48M
Pretax Income+	-315.58M	-253.57M	-913.82M	-928.66M	-392.73M	-431.22M	192.75M	655M	666M	343.38M
Pretax Margin %	-1.98%	-0.61%	-0.94%	-0.47%	-0.18%	-0.2%	0.08%	0.28%	0.31%	0.17%
Income Tax+	1.91M	0	8.82M	102.44M	2.44M	-236K	-19.62M	11.99M	25.17M	1.3M
Effective Tax Rate %	1.01%	1%	1.01%	1%	1.01%	1%	1.14%	0.98%	0.96%	1%
Net Income+	-318.3M	-253.57M	-918.58M	-927.02M	-395.03M	-432.34M	219.06M	643.96M	640.83M	342.08M
Net Margin %	-2%	-0.61%	-0.95%	-0.47%	-0.18%	-0.2%	0.09%	0.28%	0.3%	0.17%
Net Income Growth %	-	0.2%	-2.62%	-0.01%	0.57%	-0.09%	1.51%	1.94%	-0%	-0.47%
Net Income (Continuing)	-315.58M	-253.57M	-918.71M	-926.95M	-395.17M	-430.99M	212.37M	643.01M	640.83M	342.08M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	64K	136K	-212K	-658K	-4.93M	-5.36M	-1.49M	-1.49M
EPS (Diluted)+	-41.68	-30.69	-111.17	-73.63	-28.92	-32.01	16.28	47.07	46.44	25.06
EPS Growth %	-	0.26%	-2.62%	0.34%	0.61%	-0.11%	1.51%	1.89%	-0.01%	-0.46%
EPS (Basic)	-41.68	-30.69	-111.17	-73.63	-28.92	-32.01	16.28	47.07	46.44	25.06
Diluted Shares Outstanding	7.64M	8.26M	8.26M	12.59M	13.66M	13.51M	13.46M	13.68M	13.8M	13.65M
Basic Shares Outstanding	7.64M	8.26M	8.26M	12.59M	13.66M	13.51M	13.46M	13.68M	13.8M	13.65M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.05%	0.05%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	92.25M	219.94M	1.27B	2.58B	2.04B	1.55B	1.13B	969.1M	1.03B	884.31M
Cash & Short-Term Investments	48.45M	168.1M	912.53M	2.28B	1.62B	1.28B	810.87M	824.18M	905.88M	783.26M
Cash Only	4.45M	23.1M	559.46M	1.25B	1.4B	760.71M	626.72M	753.64M	763.8M	507.23M
Short-Term Investments	44M	145M	353.07M	1.03B	217.64M	517.82M	184.16M	70.54M	142.08M	276.03M
Accounts Receivable	802K	4.87M	6.09M	3.89M	6.1M	21.06M	55.74M	26.81M	29.34M	24.53M
Days Sales Outstanding	1.84	4.25	2.29	0.72	1.02	3.49	8.11	4.21	4.96	4.5
Inventory	26.85M	33M	100.48M	165.14M	237.34M	132.39M	8.88M	14.15M	14.24M	19.68M
Days Inventory Outstanding	158.78	169.68	215.42	182.45	218.59	124.78	8.61	14.84	19.57	22.62
Other Current Assets	8.35M	14.74M	55.27M	179.51M	12.74M	36.59M	142.92M	49.71M	20.55M	9.36M
Total Non-Current Assets+	7.85M	25.05M	702.97M	1.16B	1.92B	1.71B	1.47B	1.31B	1.09B	1.24B
Property, Plant & Equipment	3.67M	16.45M	525.29M	559.51M	1.14B	999.97M	1.22B	1.09B	922.49M	868.37M
Fixed Asset Turnover	43.35x	25.47x	1.85x	3.53x	1.92x	2.20x	2.06x	2.13x	2.34x	2.29x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	696K	1.04M	1.55M	1.37M	1.18M	1.21M	2.76M	1.51M	975K	723K
Long-Term Investments	0	0	3.3M	30.01M	40.03M	64.09M	54.84M	73.51M	61.35M	260.08M
Other Non-Current Assets	3.48M	7.56M	9.69M	418.7M	653.13M	628.35M	149.18M	116.72M	101.93M	82.98M
Total Assets+	100.1M	244.99M	1.97B	3.74B	3.97B	3.26B	2.59B	2.28B	2.12B	2.12B
Asset Turnover	1.59x	1.71x	0.49x	0.53x	0.55x	0.68x	0.97x	1.02x	1.02x	0.94x
Asset Growth %	-	1.45%	7.04%	0.9%	0.06%	-0.18%	-0.2%	-0.12%	-0.07%	0%
Total Current Liabilities+	305.86M	587.11M	1.8B	2.31B	2.24B	2.2B	1.91B	1.48B	1.01B	801.38M
Accounts Payable	17.32M	6.69M	246.08M	0	0	0	0	0	0	0
Days Payables Outstanding	102.46	34.4	527.55	-	-	-	-	-	-	-
Short-Term Debt	0	0	0	32.5M	32.5M	32.5M	38.65M	38.65M	38.65M	6.15M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	385K	2.45M	10.11M	143.69M	61.34M	104.22M	19.88M	143.74M	112.34M
Current Ratio	0.30x	0.37x	0.70x	1.12x	0.91x	0.71x	0.59x	0.66x	1.02x	1.10x
Quick Ratio	0.21x	0.32x	0.65x	1.04x	0.81x	0.65x	0.59x	0.65x	1.01x	1.08x
Cash Conversion Cycle	58.16	139.53	-309.84	-	-	-	-	-	-	-
Total Non-Current Liabilities+	165.99M	546.83M	784.47M	1.76B	2.47B	2.28B	1.7B	1.18B	832.78M	719.92M
Long-Term Debt	0	0	0	225.63M	809.37M	160.63M	181.97M	143.32M	104.67M	35.39M
Capital Lease Obligations	0	0	0	0	616.25M	532.54M	404.13M	316.84M	157.27M	137.04M
Deferred Tax Liabilities	0	0	0	0	87.95M	15.22M	21.78M	5.98M	3.74M	5.72M
Other Non-Current Liabilities	0	335M	0	17.15M	-604.78M	7.66M	11.7M	6.77M	570.85M	7.31M
Total Liabilities	471.84M	1.13B	2.59B	4.08B	4.71B	4.47B	3.61B	2.66B	1.84B	1.52B
Total Debt+	24M	0	0	258.13M	1.5B	756.37M	639.07M	515.88M	308.61M	186.9M
Net Debt	19.55M	-23.1M	-559.46M	-990.68M	96.13M	-4.34M	12.36M	-237.76M	-455.19M	-320.33M
Debt / Equity	-	-	-	-	-	-	-	-	1.12x	0.31x
Debt / EBITDA	-	-	-	-	-	-	4.20x	0.78x	0.51x	0.57x
Net Debt / EBITDA	-	-	-	-	-	-	0.08x	-0.36x	-0.75x	-0.98x
Interest Coverage	-	-	-	-473.94x	-32.12x	-55.51x	10.46x	61.33x	75.08x	56.28x
Total Equity+	-371.74M	-888.96M	-617.06M	-338.98M	-738.36M	-1.21B	-1.01B	-379.85M	275.55M	599.86M
Equity Growth %	-	-1.39%	0.31%	0.45%	-1.18%	-0.64%	0.16%	0.63%	1.73%	1.18%
Book Value per Share	-48.68	-107.59	-74.68	-26.93	-54.05	-89.73	-75.37	-27.77	19.97	43.95
Total Shareholders' Equity	-371.74M	-888.96M	-617.12M	-339.12M	-738.15M	-1.21B	-1.01B	-374.49M	277.04M	601.35M
Common Stock	1K	1K	1K	2K	2K	2K	2K	2K	2K	2K
Retained Earnings	-372.66M	-919.87M	-1.92B	-2.85B	-3.24B	-3.68B	-3.46B	-2.81B	-2.17B	-1.84B
Treasury Stock	0	0	1.02B	0	0	0	0	0	0	0
Accumulated OCI	0	0	-8.76M	118.83M	142.44M	96.49M	82.53M	127.89M	143.28M	147.25M
Minority Interest	0	0	64K	136K	-212K	-658K	-4.93M	-5.36M	-1.49M	-1.49M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	445K	89.27M	819.54M	180.54M	-533.55M	-188.64M	-373.25M	62.65M	140.8M	195.52M
Operating CF Margin %	0%	0.21%	0.84%	0.09%	-0.24%	-0.09%	-0.15%	0.03%	0.07%	0.1%
Operating CF Growth %	-	199.61%	8.18%	-0.78%	-3.96%	0.65%	-0.98%	1.17%	1.25%	0.39%
Net Income	-318.3M	-253.57M	-918.71M	-926.95M	-395.17M	-430.99M	212.37M	4.41B	640.83M	342.08M
Depreciation & Amortization	3.75M	5.47M	8.11M	25.78M	37.22M	40.27M	37.92M	319.88M	30.65M	29.47M
Stock-Based Compensation	23.66M	0	288.76M	3.85M	2.97M	29.75M	768K	49.2M	0	0
Deferred Taxes	-23.66M	0	136K	-72K	-85.51M	72.5M	-26.25M	85.42M	0	0
Other Non-Cash Items	23.66M	313.97M	4.87M	-1.64M	87.47M	-65.34M	-2.4M	-121.66M	-37.74M	33.7M
Working Capital Changes	291.34M	337.37M	1.44B	1.08B	-180.53M	165.18M	-595.65M	-4.68B	-492.94M	-209.73M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-26.51M	-117.69M	-615.89M	-1.19B	729.55M	-349.31M	342.68M	659.04M	-71.82M	-358.86M
Capital Expenditures	-5.78M	-16.7M	-398.94M	-518.43M	-25.54M	-26.96M	-16.54M	-22.22M	-5.76M	-259K
CapEx % of Revenue	0.04%	0.04%	0.41%	0.26%	0.01%	0.01%	0.01%	0.01%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-115K	-824K	-217.01M	-668.96M	-31.73M	928K	11.39M	1.36M	1.9M	7.32M
Cash from Financing+	21.77M	47.08M	341.47M	1.59B	-64.15M	-59.08M	-38.9M	-465.33M	-74.66M	-112.73M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-43M	0	0	0	0	-32.56M	-31.25M	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	21.77M	-287.92M	669.55M	253.67M	0	0	-61.54M	-387.37M	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-5.33M	72.58M	420.6M	-337.88M	-559.08M	-215.6M	-389.79M	40.43M	134.44M	195.11M
FCF Margin %	-0.03%	0.17%	0.43%	-0.17%	-0.25%	-0.1%	-0.16%	0.02%	0.06%	0.1%
FCF Growth %	-	14.61%	4.8%	-1.8%	-0.65%	0.61%	-0.81%	1.1%	2.32%	0.45%
FCF per Share	-0.70	8.78	50.91	-26.84	-40.93	-15.96	-28.97	2.96	9.74	14.29
FCF Conversion (FCF/Net Income)	-0.00x	-0.35x	-0.89x	-0.19x	1.35x	0.44x	-1.70x	0.10x	0.22x	0.57x
Interest Paid	0	0	0	0	0	11.78M	0	10.19M	7.78M	5.51M
Taxes Paid	0	0	0	0	0	18K	0	13.62M	11.22M	8.87M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-	-	-	-	-	232.56%	78.15%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-	-	-	447.39%
Gross Margin	61.19%	83.05%	82.45%	83.26%	81.94%	82.43%	85%	85.01%	87.7%	84.04%
Net Margin	-200.18%	-60.53%	-94.68%	-46.96%	-18.01%	-19.62%	8.73%	27.72%	29.67%	17.19%
Debt / Equity	-	-	-	-	-	-	-	-	1.12x	0.31x
Interest Coverage	-	-	-	-473.94x	-32.12x	-55.51x	10.46x	61.33x	75.08x	56.28x
FCF Conversion	-0.00x	-0.35x	-0.89x	-0.19x	1.35x	0.44x	-1.70x	0.10x	0.22x	0.57x
Revenue Growth	-	163.45%	131.59%	103.47%	11.14%	0.45%	13.8%	-7.37%	-7.04%	-7.84%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Sales of products	-	-	-	-	-	-	245.42M
Sales of products Growth	-	-	-	-	-	-	-
Other Revenue	587K	8.1M	11.29M	28.98M	79.59M	176.01M	41.76M
Other Revenue Growth	-	1279.90%	39.33%	156.77%	174.65%	121.15%	-76.28%
Commissions	6.37M	15.38M	19.98M	50.47M	46.27M	-	-
Commissions Growth	-	141.31%	29.93%	152.51%	-8.31%	-	-

Frequently Asked Questions

Valuation & Price

Sunlands Technology Group (STG) has a price-to-earnings (P/E) ratio of 0.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Sunlands Technology Group (STG) reported $2.03B in revenue for fiscal year 2024. This represents a 1179% increase from $159.0M in 2015.

Sunlands Technology Group (STG) saw revenue decline by 7.8% over the past year.

Yes, Sunlands Technology Group (STG) is profitable, generating $385.1M in net income for fiscal year 2024 (17.2% net margin).

Dividend & Returns

Sunlands Technology Group (STG) has a return on equity (ROE) of 78.2%. This is excellent, indicating efficient use of shareholder capital.

Sunlands Technology Group (STG) generated $195.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.