The absence of disclosed balance sheet data, combined with a -3.30% net margin, suggests that the company's capital base may be eroding due to ongoing operational losses.
| Metric | Dec'24 | Dec'23 | Dec'22 |
|---|
| Total Current Assets | 666.59M | 689.65M | 710.02M |
| Cash & Short-Term Investments | 126.53M | 185.43M | 392.21M |
| Cash Only | 126.53M | 185.43M | 307.98M |
| Short-Term Investments | 0 | 0 | 84.23M |
| Accounts Receivable | 455.93M | 367.39M | 135.3M |
| Days Sales Outstanding | 104.95 | 98.18 | 68.2 |
| Inventory | 3.7M | 3.26M | 8.3M |
| Days Inventory Outstanding | 1 | 1.02 | 5.08 |
| Other Current Assets | 0 | 54.4M | 141.53M |
| Total Non-Current Assets | 241.77M | 428.3M | 274.6M |
| Property, Plant & Equipment | 190.46M | 213.7M | 125.55M |
| Fixed Asset Turnover | 8.33x | 6.39x | 5.77x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 9.99M | 12.01M | 5.04M |
| Long-Term Investments | 0 | 105.63M | 69.13M |
| Other Non-Current Assets | 13.18M | 61.49M | 74.89M |
| Total Assets | 908.36M | 1.12B | 984.63M |
| Asset Turnover | 1.75x | 1.22x | 0.74x |
| Asset Growth % | -18.75% | 13.54% | - |
| Total Current Liabilities | 290.05M | 406.1M | 316.54M |
| Accounts Payable | 70.69M | 100.41M | 13.68M |
| Days Payables Outstanding | 19.02 | 31.45 | 8.37 |
| Short-Term Debt | 45.89M | 26.27M | 0 |
| Deferred Revenue (Current) | 19.99M | 39.28M | 2.7M |
| Other Current Liabilities | 13.37M | 143.64M | 208.05M |
| Current Ratio | 2.30x | 1.70x | 2.24x |
| Quick Ratio | 2.29x | 1.69x | 2.22x |
| Cash Conversion Cycle | 86.93 | 67.75 | 64.91 |
| Total Non-Current Liabilities | 1.04B | 1.05B | 1.05B |
| Long-Term Debt | 1.47M | 0 | 0 |
| Capital Lease Obligations | 27.9M | 39.7M | 42.58M |
| Deferred Tax Liabilities | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.01B | 1.01B | 1.01B |
| Total Liabilities | 1.33B | 1.45B | 1.37B |
| Total Debt | 84.67M | 72.78M | 50.11M |
| Net Debt | -41.86M | -112.65M | -257.87M |
| Debt / Equity | - | - | - |
| Debt / EBITDA | 1.26x | 9.15x | - |
| Net Debt / EBITDA | -0.62x | -14.16x | - |
| Interest Coverage | 10.74x | - | - |
| Total Equity | -417.11M | -336.28M | -384.43M |
| Equity Growth % | -24.04% | 12.52% | - |
| Book Value per Share | -5.96 | -4.80 | -5.49 |
| Total Shareholders' Equity | -436.46M | -362.93M | -413.02M |
| Common Stock | 149K | 149K | 149K |
| Retained Earnings | -621.79M | -549.81M | -647.67M |
| Treasury Stock | -31K | -31K | -31K |
| Accumulated OCI | 9.37M | 9.22M | 8.25M |
| Minority Interest | 19.36M | 26.65M | 28.59M |
Negative working capital cycles
As the company lacks publicly available balance sheet data, the trajectory of its financial position remains opaque, though the persistent negative net margin of -3.30% suggests that the firm's capital base is likely being eroded by ongoing operational losses rather than being bolstered by retained earnings growth.
The absence of reported balance sheet figures prevents a definitive assessment of solvency, yet the underlying income statement trends imply a precarious financial state. Investors should monitor whether the company is forced to rely on external financing to sustain its physical infrastructure, as this would further weaken the long-term quality of the balance sheet.
Given the lack of disclosed liquidity metrics, the company's ability to cover short-term obligations remains highly uncertain, particularly as the -3.30% net margin indicates that the firm is currently burning cash to support its labor-intensive operations rather than generating a buffer against potential macroeconomic shocks.
Without visibility into current or quick ratios, the risk of a liquidity crunch is elevated, especially if the company faces delays in collecting receivables from corporate clients. The reliance on a labor-heavy model suggests that working capital requirements are likely high, leaving little room for error in managing cash outflows.
Based on the company's business model, the asset base is likely dominated by physical vocational training centers, which may carry significant impairment risk if the current economic downturn in China reduces the demand for specialized labor and renders these fixed assets less productive than originally anticipated.
The concentration of assets in physical infrastructure creates a rigid cost structure that limits the company's agility during market contractions. Analysts should investigate the depreciation schedules and utilization rates of these facilities to determine if the asset base is truly providing a competitive advantage or merely acting as a drag on returns.
While the balance sheet remains undisclosed, the company's reliance on outsourced labor management likely masks significant off-balance-sheet liabilities related to social security contributions and potential regulatory penalties, which could materialize as sudden, unrecorded obligations if labor enforcement policies in China continue to tighten significantly.
The thin operating margin of 2.56% leaves virtually no cushion for the realization of these contingent liabilities. Investors should be wary that the reported financial position may be significantly overstated if these labor-related obligations are not fully captured within the firm's current accounting framework.
Quick answers to the most common questions about buying YOUL stock.
As of 2024, Youlife Group Inc. American Depositary Shares (YOUL) had total assets of $908.4M including $666.6M in current assets.
Youlife Group Inc. American Depositary Shares (YOUL) carries total debt of $84.7M, offset by $126.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Youlife Group Inc. American Depositary Shares (YOUL) has total shareholders' equity (book value) of $-436.5M ($-5.96 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Youlife Group Inc. American Depositary Shares (YOUL) reported a current ratio of 2.30x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.