Udemy, Inc. (UDMY) Financial Ratios
7 years of historical data (2019–2025) · Consumer Defensive · Education & Training Services
EV/EBITDA
20.02
↓-31% vs avg
5yr avg: 28.81
30Y Low28.8·High28.8
P/FCF
↓
8.42
↓-61% vs avg
5yr avg: 21.73
30Y Low10.9·High32.5
P/B Ratio
↓
3.30
↓-41% vs avg
5yr avg: 5.61
30Y Low4.2·High7.0
ROE
↑
1.9%
↓+107% vs avg
5yr avg: -28.3%
30Y Low-42%·High2%
Debt/EBITDA
0.45
+0% vs avg
5yr avg: 0.45
30Y Low0.4·High0.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
UDMY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Udemy, Inc. trades at 180.2x earnings, 21% below its 5-year average of 227.6x, sitting at the 50th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a premium of 858%. On a free-cash-flow basis, the stock trades at 8.4x P/FCF, 61% below the 5-year average of 21.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $677M | $878M | $1.2B | $2.2B | $1.5B | $2.7B | — | — |
| Enterprise Value | $456M | $656M | $1.1B | $1.9B | $1.2B | $2.2B | — | — |
| P/E Ratio → | 180.16 | 227.63 | — | — | — | — | — | — |
| P/S Ratio | 0.86 | 1.11 | 1.58 | 3.03 | 2.36 | 5.27 | — | — |
| P/B Ratio | 3.30 | 4.17 | 6.31 | 6.20 | 4.38 | 6.98 | — | — |
| P/FCF | 8.42 | 10.91 | 32.54 | — | — | — | — | — |
| P/OCF | 7.86 | 10.18 | 23.48 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
UDMY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Udemy, Inc.'s enterprise value stands at 20.0x EBITDA, 31% below its 5-year average of 28.8x. The Consumer Defensive sector median is 11.0x, placing the stock at a 82% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.83 | 1.35 | 2.62 | 1.89 | 4.24 | — | — |
| EV / EBITDA | 20.02 | 28.81 | — | — | — | — | — | — |
| EV / EBIT | — | 78.72 | — | — | — | — | — | — |
| EV / FCF | — | 8.16 | 27.85 | — | — | — | — | — |
UDMY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Udemy, Inc. earns an operating margin of -0.3%, below the Consumer Defensive sector average of 3.5%. Operating margins have expanded from -16.7% to -0.3% over the past 3 years, signaling improving operational efficiency. ROE of 1.9% is modest, trailing the sector median of 6.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.6% | 65.6% | 62.5% | 57.5% | 56.2% | 54.2% | 51.3% | 48.1% |
| Operating Margin | -0.3% | -0.3% | -11.4% | -16.7% | -24.0% | -15.1% | -17.1% | -24.6% |
| Net Profit Margin | 0.5% | 0.5% | -10.8% | -14.7% | -24.5% | -15.5% | -18.1% | -25.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 1.9% | 1.9% | -30.8% | -30.8% | -42.2% | -39.7% | -578.4% | — |
| ROA | 0.6% | 0.6% | -12.7% | -14.5% | -20.8% | -15.7% | -38.9% | -59.4% |
| ROIC | -56.7% | -56.7% | -176.5% | -187.6% | -289.5% | — | — | — |
| ROCE | -1.2% | -1.2% | -31.4% | -34.3% | -40.4% | -37.4% | -401.4% | — |
UDMY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Udemy, Inc. carries a Debt/EBITDA ratio of 0.4x, which is very conservative (87% below the sector average of 3.5x). The company holds a net cash position — cash of $231M exceeds total debt of $10M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.05 | 0.02 | 0.04 | — | — | — |
| Debt / EBITDA | 0.45 | 0.45 | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.05 | -0.91 | -0.84 | -0.88 | -1.37 | -13.04 | — |
| Net Debt / EBITDA | -9.71 | -9.71 | — | — | — | — | — | — |
| Debt / FCF | — | -2.75 | -4.70 | — | — | — | — | — |
| Interest Coverage | — | — | -235.51 | -199.08 | -120.17 | -2456.97 | -64.03 | — |
Net cash position: cash ($231M) exceeds total debt ($10M)
UDMY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.31x means Udemy, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.66x to 1.31x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.31 | 1.31 | 1.27 | 1.66 | 1.59 | 1.88 | 0.86 | 0.43 |
| Quick Ratio | 1.31 | 1.31 | 1.27 | 1.66 | 1.59 | 1.88 | 0.86 | 0.43 |
| Cash Ratio | 0.90 | 0.90 | 0.89 | 1.25 | 1.20 | 1.57 | 0.66 | 0.27 |
| Asset Turnover | — | 1.28 | 1.30 | 0.98 | 0.85 | 0.70 | 1.52 | 2.36 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 44.31 | 40.94 | 46.34 | 60.65 | 51.80 | 39.27 | 35.41 |
UDMY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Udemy, Inc. returns 7.5% to shareholders annually primarily through share buybacks. The earnings yield of 0.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.4% | — | — | — | — | — | — |
| FCF Yield | 11.9% | 9.2% | 3.1% | — | — | — | — | — |
| Buyback Yield | 7.5% | 5.8% | 12.1% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 7.5% | 5.8% | 12.1% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $150M | $151M | $150M | $141M | $139M | $140M | $32M |
Peer Comparison
Compare UDMY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 UDMYYou | $677M | 180.2 | 20.0 | 8.4 | 65.6% | -0.3% | 1.9% | -56.7% | 0.4 |
 COUR | $906M | -17.3 | — | 8.4 | 54.6% | -10.3% | -8.3% | — | — |
 STRA | $2B | 13.9 | 6.9 | 11.1 | 49.0% | 15.5% | 7.7% | 9.0% | 0.4 |
 PRDO | $2B | 13.2 | 8.3 | 9.3 | 71.7% | 23.2% | 16.6% | 15.3% | 0.4 |
 LOPE | $4B | 18.4 | 11.4 | 16.1 | 52.4% | 27.5% | 28.2% | 32.5% | 0.6 |
 SKIL | $67M | -0.5 | 6.1 | 2.9 | 73.7% | -7.6% | -439.6% | -5.7% | 6.5 |
 LAUR | $5B | 19.3 | 10.9 | 19.8 | 28.3% | 25.3% | 26.2% | 20.3% | 1.6 |
 LRN | $4B | 13.9 | 6.9 | 9.5 | 39.2% | 15.0% | 21.7% | 22.0% | 1.2 |
 APEI | $967M | 38.8 | 13.6 | 21.0 | 51.7% | 8.3% | 10.5% | 12.4% | 2.3 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 GOOG | $4.4T | 34.0 | 29.8 | 60.7 | 59.7% | 32.1% | 35.7% | 25.1% | 0.4 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 7 years · Updated daily
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UDMY — Frequently Asked Questions
Quick answers to the most common questions about buying UDMY stock.
What is Udemy, Inc.'s P/E ratio?
Udemy, Inc.'s current P/E ratio is 180.2x. This places it at the 50th percentile of its historical range.
What is Udemy, Inc.'s EV/EBITDA?
Udemy, Inc.'s current EV/EBITDA is 20.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.8x.
What is Udemy, Inc.'s ROE?
Udemy, Inc.'s return on equity (ROE) is 1.9%. The historical average is -28.3%.
Is UDMY stock overvalued?
Based on historical data, Udemy, Inc. is trading at a P/E of 180.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Udemy, Inc.'s profit margins?
Udemy, Inc. has 65.6% gross margin and -0.3% operating margin.
How much debt does Udemy, Inc. have?
Udemy, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.