Sunlands Technology Group (STG) Revenue History
Annual and quarterly revenue from 2015 to present
STG Revenue Over Time (2015–2025)
STG Revenue Growth History
7 of 10 years with positive growth- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- +163.4%
- FY2017 revenue growth
- +131.6%
- FY2018 revenue growth
- +103.5%
- FY2019 revenue growth
- +11.1%
- FY2020 revenue growth
- +0.5%
- FY2021 revenue growth
- +13.8%
- FY2022 revenue growth
- -7.4%
- FY2023 revenue growth
- -7.0%
- FY2024 revenue growth
- -7.8%
- FY2025 revenue growth
- +1.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $470.2M | -2.7% |
| Q3 2025 | $523.0M | +6.5% |
| Q2 2025 | $539.0M | +9.5% |
| Q1 2025 | $487.6M | -6.8% |
| Q4 2024 | $483.5M | -10.8% |
| Q3 2024 | $491.3M | -6.4% |
| Q2 2024 | $492.2M | -6.5% |
| Q1 2024 | $523.2M | -7.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
STG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
STG Revenue Analysis (2015–2025)
Current Revenue & Growth
As of June 22, 2026, Sunlands Technology Group (STG) generated trailing twelve-month (TTM) revenue of $2.02 billion, reflecting slight decline in growth of -2.7% year-over-year. The most recent quarter (Q4 2025) recorded $470.2 million in revenue, down 10.1% sequentially.
Historical Growth Trajectory
STG's 5-year compound annual growth rate (CAGR) stands at -1.7%, indicating revenue contraction over this period. The 3-year CAGR of -4.6% is below the 5-year average, signalling a growth deceleration in recent years. Sunlands Technology Group's highest annual revenue of $2.51 billion was recorded in 2021.
Revenue by Segment
STG's revenue is primarily driven by Sales of products (86%), and Other Revenue (14%). With over half of revenue concentrated in Sales of products, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Defensive sector peers — including TAL (+44.4% YoY), EDU (+7.3% YoY), and COUR (+9.8% YoY) — STG has underperformed the peer group in revenue growth. Compare STG vs TAL →
STG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| STGCurrent | $2.0B | -2.7% | -1.7% | 22.0% | |
 TAL | $2.3B | +44.4% | -7.2% | -0.3% | |
 EDU | $4.9B | +7.3% | +6.5% | 8.7% | |
 COUR | $758M | +9.8% | +20.9% | -10.3% | |
 UDMY | $790M | -1.1% | +12.9% | -0.3% | |
 PRDO | $846M | +17.7% | +4.2% | 23.2% |
STG Historical Revenue Data (2015–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.02B | +1.5% | $1.76B | 86.9% | $444.5M | 22.0% |
| 2024 | $1.99B | -7.8% | $1.67B | 84.0% | $297.9M | 15.0% |
| 2023 | $2.16B | -7.0% | $1.89B | 87.7% | $574.9M | 26.6% |
| 2022 | $2.32B | -7.4% | $1.97B | 85.0% | $616.9M | 26.6% |
| 2021 | $2.51B | +13.8% | $2.13B | 85.0% | $114.3M | 4.6% |
| 2020 | $2.20B | +0.5% | $1.82B | 82.4% | $-649,018,000 | -29.5% |
| 2019 | $2.19B | +11.1% | $1.80B | 81.9% | $-459,723,000 | -21.0% |
| 2018 | $1.97B | +103.5% | $1.64B | 83.3% | $-1,028,934,000 | -52.1% |
| 2017 | $970.2M | +131.6% | $799.9M | 82.5% | $-927,678,000 | -95.6% |
| 2016 | $418.9M | +163.4% | $347.9M | 83.1% | $-259,041,000 | -61.8% |
| 2015 | $159.0M | - | $97.3M | 61.2% | $-317,167,000 | -199.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
STG — Frequently Asked Questions
Quick answers to the most common questions about buying STG stock.
Is STG's revenue growth accelerating or slowing?
STG revenue growth is slowing. TTM revenue is $2.0B, up -2.7% year-over-year — below the 5-year CAGR of -1.7%. The deceleration suggests maturing end-markets or increased competition.
What is STG's revenue history from 2015 to 2026?
Sunlands Technology Group (STG) revenue history spans 2015 to 2026. TTM revenue as of 2026 is $2.0B, growing at -2.7% YoY. The 5-year CAGR is -1.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is STG's long-term revenue growth rate (CAGR)?
Sunlands Technology Group's 5-year revenue CAGR of -1.7% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -2.7% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for STG.
Why does STG's quarterly revenue fluctuate?
STG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Sunlands Technology Group's revenue data from 2015 to 2026 shows full historical quarterly detail on this page.
How is STG's revenue distributed by segment?
STG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does STG's revenue compare to industry peers?
Sunlands Technology Group (STG) with TTM revenue of $2.0B and -2.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.