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General information

Country: CHINA

Sector: Internet Content and Information

Categories: @china   

Youdao, Inc. develops and markets software applications. The Company provides language translation, personal cloud, e-commerce shopping, and other related tools. Youdao serves customers in China.



Growth: Good revenue growth rate 41.4%, there is slowdown compared to average historical growth rates 68.2%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is negative, -7.5%. On average the margin is improving steadily. Gross margin is high, +53.3%. In the last quarter the company did not beat the estimated EPS. The company was ahead of estimated EPS in 40% of quarters (showing a gain of -$0.01 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 0.0%. Free cash flow yield 12.4% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 34.0% higher than minimum and 85.1% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 4.1x by EV / Sales multiple , the company can be >100% undervalued

Key Financials (Download financials)

Ticker: DAO
Share price, USD:  (+4.1%)4.06
year average price 4.44  


year start price 8.30 2023-03-30

max close price 8.91 2023-04-03

min close price 3.08 2024-01-19

current price 4.06 2024-03-28
Common stocks: 125 968 999

Dividend Yield:  0.0%
Last revenue growth (y/y):  41.4%
Last growth of EBITDA (y/y):  ---
Historical revenue growth:  68.2%
Historical growth of EBITDA:  ---
EV / Sales: 0.8x
Margin (EBITDA LTM / Revenue): -7.5%
Fundamental value created in LTM:
Market Cap ($m): 490
Net Debt ($m): 61
EV (Enterprise Value): 551
Price to Book: -1.6x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2024-03-12Seeking Alpha

Youdao: Expecting A Better Year Ahead

2023-08-03PRNewsWire

Youdao to Report Second Quarter 2023 Financial Results on August 24

2023-05-22InvestorPlace

3 Chinese Stocks That Could Make U.S. Investors Rich in 2023

2023-05-04PRNewsWire

Youdao to Report First Quarter 2023 Financial Results on May 25
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol DAO DAO DAO DAO DAO
reportedCurrency CNY CNY CNY CNY CNY
cik 2M 2M 2M 2M 2M
fillingDate 2023-11-16 2023-08-24 2023-03-31 2023-04-27 2022-09-30
acceptedDate 2023-11-16 06:16:30 2023-08-24 07:39:00 2023-03-31 00:00:00 2023-04-27 06:41:03 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2022.000 2022.000
period Q3 Q2 Q1 Q4 Q3
revenue 1 539M 1 207M 1 163M 1 454M 1 402M
costOfRevenue 679M 639M 561M 679M 642M
grossProfit 860M 567M 602M 775M 760M
grossProfitRatio 0.559 0.470 0.517 0.533 0.542
researchAndDevelopmentExpenses 187M 205M 183M 179M 213M
generalAndAdministrativeExpenses 57M 64M 50M 55M 57M
sellingAndMarketingExpenses 673M 588M 565M 516M 710M
sellingGeneralAndAdministrativeExpenses 730M 651M 615M 571M 766M
otherExpenses -21M 6M 6M 4M 0
operatingExpenses 917M 856M 798M 750M 979M
costAndExpenses 1 596M 1 496M 1 359M 1 429M 1 621M
interestIncome 2M 2M 2M 3M 4M
interestExpense 18M 17M 16M 15M 12M
depreciationAndAmortization -19M 8M 9M 16M 44M
ebitda -77M -281M -187M 32M -175M
ebitdaratio -0.050 -0.233 -0.161 0.022 -0.125
operatingIncome -58M -289M -196M 15M -219M
operatingIncomeRatio -0.037 -0.240 -0.168 0.011 -0.156
totalOtherIncomeExpensesNet -21M 6M -7M 1M 32M
incomeBeforeTax -94M -298M -203M 17M -187M
incomeBeforeTaxRatio -0.061 -0.247 -0.174 0.012 -0.133
incomeTaxExpense 3M 5M 3M 14M -1M
netIncome -103M -303M -206M 3M -186M
netIncomeRatio -0.067 -0.251 -0.177 0.002 -0.133
eps -0.850 -2.480 -1.690 0.025 -1.500
epsdiluted -0.850 -2.480 -1.690 0.024 -1.500
weightedAverageShsOut 121M 122M 122M 124M 124M
weightedAverageShsOutDil 121M 122M 122M 124M 124M
link Link Link Link
finalLink Link Link Link

Balance Sheet Statement

Property 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol DAO DAO DAO DAO DAO
reportedCurrency CNY CNY CNY CNY CNY
cik 2M 2M 2M 2M 2M
fillingDate 2023-11-16 2023-08-24 2023-03-31 2023-04-27 2022-09-30
acceptedDate 2023-11-16 06:16:30 2023-08-24 07:39:00 2023-03-31 00:00:00 2023-04-27 06:41:03 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2022.000 2022.000
period Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 338M 658M 579M 784M 712M
shortTermInvestments 22M 22M 22M 232M 21M
cashAndShortTermInvestments 360M 680M 601M 1 016M 734M
netReceivables 361M 387M 268M 413M 340M
inventory 178M 183M 219M 232M 170M
otherCurrentAssets 233M 193M 176M 208M 432M
totalCurrentAssets 1 131M 1 443M 1 264M 1 870M 1 676M
propertyPlantEquipmentNet 173M 167M 159M 171M 186M
goodwill 110M 110M 110M 110M 110M
intangibleAssets 0 0 0 0 0
goodwillAndIntangibleAssets 110M 110M 110M 110M 110M
longTermInvestments 64M 87M 91M 91M 67M
taxAssets 0 0 0 0 0
otherNonCurrentAssets 47M 38M 34M 35M 38M
totalNonCurrentAssets 394M 403M 394M 406M 401M
otherAssets 0 0 0 0 0
totalAssets 1 525M 1 846M 1 658M 2 276M 2 077M
accountPayables 163M 129M 123M 282M 180M
shortTermDebt 878M 1 456M 1 428M 878M 878M
taxPayables 67M 58M 64M 51M 53M
deferredRevenue 932M 1 213M 832M 1 067M 997M
otherCurrentLiabilities 1 032M 1 025M 916M 951M 930M
totalCurrentLiabilities 3 004M 3 823M 3 299M 3 179M 2 984M
longTermDebt 659M 46M 40M 566M 540M
deferredRevenueNonCurrent 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0
otherNonCurrentLiabilities 17M 12M 11M 9M -1 496M
totalNonCurrentLiabilities 675M 58M 52M 575M 558M
otherLiabilities 0 0 0 0 0
capitalLeaseObligations 56M 46M 40M 44M 43M
totalLiabilities 3 680M 3 882M 3 351M 3 753M 3 542M
preferredStock 0 0 0 0 0
commonStock 0 0 0 80 000 0
retainedEarnings 0 0 0 -5 398M 0
accumulatedOtherComprehensiveIncomeLoss 0 0 0 -87M 0
othertotalStockholdersEquity 0 0 0 3 951M -1 532M
totalStockholdersEquity -2 212M -2 088M -1 748M -1 535M -1 532M
totalEquity -2 154M -2 036M -1 692M -1 535M -1 532M
totalLiabilitiesAndStockholdersEquity 1 525M 1 846M 1 658M 2 276M 2 077M
minorityInterest 58M 52M 56M 58M 67M
totalLiabilitiesAndTotalEquity 1 525M 1 846M 1 658M 2 276M 2 077M
totalInvestments 86M 109M 112M 323M 89M
totalDebt 1 537M 1 502M 1 468M 1 444M 1 418M
netDebt 1 199M 844M 889M 660M 706M
link Link Link Link
finalLink Link Link Link

Cash Flow Statement

Property 2023 q3 2023 q2 2021 q4 2020 q4 2020 q3
date 2023-09-30 2023-06-30 2021-12-31 2020-12-31 2020-09-30
symbol DAO DAO DAO DAO DAO
reportedCurrency USD USD USD CNY CNY
cik 2M 2M 2M 2M 2M
fillingDate 2023-11-16 2023-08-24 2022-04-28 2021-04-28 2020-09-30
acceptedDate 2023-11-16 06:16:30 2023-08-24 07:39:00 2022-04-28 16:21:20 2021-04-28 08:23:22 2020-09-29 20:00:00
calendarYear 2023.000 2023.000 2021.000 2020.000 2020.000
period Q3 Q2 Q4 Q4 Q3
netIncome -14M -43M 557M -448M -878M
depreciationAndAmortization 0 0 25M 5M 0
deferredIncomeTax 0 0 -9M 0 0
stockBasedCompensation 0 0 58M 15M 0
changeInWorkingCapital 0 0 -540M 540M 0
accountsReceivables 0 0 -38M 63M 0
inventory 0 0 -90M -57M 0
accountsPayables 0 0 -10M 22M 0
otherWorkingCapital 0 0 -402M 511M 0
otherNonCashItems 14M 43M -844M 18M 878M
netCashProvidedByOperatingActivities 0 0 -753M 129M 0
investmentsInPropertyPlantAndEquipment 0 0 16M -16M 0
acquisitionsNet 0 0 32M -32M 0
purchasesOfInvestments 0 0 1 105M -1 105M 0
salesMaturitiesOfInvestments 0 0 -1 572M 1 572M 0
otherInvestingActivites 0 0 -733 000 733 000 0
netCashUsedForInvestingActivites 0 0 -420M 420M 0
debtRepayment 0 0 0 0 0
commonStockIssued 0 0 0 0 0
commonStockRepurchased 0 0 0 0 0
dividendsPaid 0 0 0 0 0
otherFinancingActivites 0 0 -7M 0 0
netCashUsedProvidedByFinancingActivities 0 0 -7M 7M 0
effectOfForexChangesOnCash 0 0 25M -25M 0
netChangeInCash -44M 6M -1 155M 531M 0
cashAtEndOfPeriod 46M 91M -546M 609M 0
cashAtBeginningOfPeriod 91M 84M 609M 78M 0
operatingCashFlow 0 0 -753M 129M 0
capitalExpenditure 0 0 16M -16M 0
freeCashFlow 0 0 -737M 113M 0
link Link Link Link Link
finalLink Link Link Link Link

Earning call transcript

2023 q4
2024-02-29 ET (fiscal 2023 q4)
2023 q3
2023-11-16 ET (fiscal 2023 q3)
2023 q2
2023-08-24 ET (fiscal 2023 q2)
2023 q1
2023-05-25 ET (fiscal 2023 q1)
2022 q4
2023-02-23 ET (fiscal 2022 q4)
2022 q3
2022-11-17 ET (fiscal 2022 q3)
2022 q2
2022-08-18 ET (fiscal 2022 q2)
2022 q1
2022-05-24 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-02-29 08:30 ET
Youdao Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results
2024-02-07 08:30 ET
Youdao to Report Fourth Quarter and Fiscal Year 2023 Financial Results on February 29
2023-11-17 10:00 ET
Youdao, Inc. to Hold Annual General Meeting on December 14, 2023
2023-11-16 08:30 ET
Youdao Reports Third Quarter 2023 Unaudited Financial Results
2023-10-26 08:30 ET
Youdao to Report Third Quarter 2023 Financial Results on November 16
2023-08-24 08:30 ET
Youdao Reports Second Quarter 2023 Unaudited Financial Results
2023-08-03 08:30 ET
Youdao to Report Second Quarter 2023 Financial Results on August 24
2023-05-25 08:30 ET
Youdao Reports First Quarter 2023 Unaudited Financial Results
2023-05-20 18:30 ET
Updates to Existing and Pipeline Games Announced at NetEase's 2023 Product Launch Event
2023-05-04 08:30 ET
Youdao to Report First Quarter 2023 Financial Results on May 25
2023-04-27 12:00 ET
Youdao Filed 2022 Annual Report on Form 20-F
2023-04-25 08:30 ET
Youdao, Inc. to Hold Annual General Meeting on May 16, 2023
2023-02-23 08:30 ET
Youdao Reports Fourth Quarter and Fiscal Year 2022 Unaudited Financial Results
2023-02-02 08:30 ET
Youdao to Report Fourth Quarter and Fiscal Year 2022 Financial Results on February 23
2022-11-30 09:00 ET
Youdao, Inc. Announces Rescheduling of Annual General Meeting
2022-11-17 08:30 ET
Youdao Reports Third Quarter 2022 Unaudited Financial Results
2022-11-03 10:00 ET
Youdao, Inc. to Hold Annual General Meeting on December 1, 2022
2022-11-01 08:30 ET
Youdao to Report Third Quarter 2022 Financial Results on November 17
2022-10-28 12:30 ET
Youdao Launches New AI-led Smart Learning Pad X10
2022-08-18 08:30 ET
Youdao Reports Second Quarter 2022 Unaudited Financial Results
2022-08-11 03:31 ET
Youdao Holds 2022 Intelligent Learning Product Launch Event on August 9
2022-08-02 08:30 ET
Youdao to Report Second Quarter 2022 Financial Results on August 18
2022-05-27 12:30 ET
Youdao Publishes First Corporate Social Responsibility Report
2022-05-24 08:30 ET
Youdao Reports First Quarter 2022 Unaudited Financial Results
2022-05-10 08:30 ET
Youdao to Report First Quarter 2022 Financial Results on May 24
2022-05-05 13:00 ET
Youdao Provides Update on Status Under Holding Foreign Companies Accountable Act
2022-04-28 21:20 ET
Youdao Filed 2021 Annual Report on Form 20-F
2022-04-20 13:15 ET
A Magic Scanning Pen That is Revolutionizing Language Learning: Youdao Dictionary Pen 3 Global Version
2022-02-24 08:30 ET
Youdao Reports Fourth Quarter and Fiscal Year 2021 Unaudited Financial Results
2022-02-08 08:30 ET
Youdao to Report Fourth Quarter and Fiscal Year 2021 Financial Results on February 24
2021-11-17 10:30 ET
Youdao to be Added to MSCI China All Shares Small Cap Index
2021-11-16 08:30 ET
Youdao Reports Third Quarter 2021 Unaudited Financial Results
2021-11-08 09:00 ET
Youdao to Report Third Quarter 2021 Financial Results on November 16
2021-11-05 08:20 ET
NetEase Cloud Classroom Introduces Free AWS Digital Training Courses in China
2021-11-01 08:00 ET
Youdao, Inc. to Hold Annual General Meeting on December 9, 2021
2021-09-30 12:04 ET
Youdao Announces Plan to Dispose of its Academic AST Business
2021-08-31 08:30 ET
Youdao Reports Second Quarter 2021 Unaudited Financial Results
2021-08-23 08:30 ET
Youdao to Report Second Quarter 2021 Financial Results on August 31
2021-08-19 11:30 ET
Youdao Provides Further Update on Regulatory Development
2021-07-26 10:00 ET
Youdao Provides Update on PRC Regulatory Policy
2021-07-23 13:15 ET
Youdao Responds to Media Reports
2021-07-22 11:00 ET
NetEase Donates RMB50 Million to Support China's Henan Relief Effort After Severe Flooding
2021-06-30 10:06 ET
NetEase Publishes 2020 Environmental, Social and Governance (ESG) Report
2021-05-18 08:30 ET
Youdao Reports First Quarter 2021 Unaudited Financial Results
2021-04-28 13:15 ET
Youdao Filed 2020 Annual Report on Form 20-F
2021-04-27 08:30 ET
Youdao to Report First Quarter 2021 Financial Results on May 18
2021-02-25 08:30 ET
Youdao Reports Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results
2021-02-04 08:30 ET
Youdao to Report Fourth Quarter and Fiscal Year 2020 Financial Results on February 25
2021-01-25 17:00 ET
IMVU. Inc Accelerates Growth With $35M+ Investment From Structural Capital, NetEase, And Others, Relaunches As Together Labs
2020-12-04 11:00 ET
Youdao Launches Latest Dictionary Pen with Cutting-Edge New Features
2020-11-19 08:30 ET
Youdao Reports Third Quarter 2020 Unaudited Financial Results
2020-10-29 08:30 ET
Youdao to Report Third Quarter 2020 Financial Results on November 19
2020-09-01 12:00 ET
Youdao Reports Summer Business Updates
2020-08-13 08:30 ET
Youdao Reports Second Quarter 2020 Unaudited Financial Results
2020-07-28 09:00 ET
Youdao to Report Second Quarter 2020 Financial Results on August 13
2020-05-19 23:00 ET
Youdao Reports First Quarter 2020 Unaudited Financial Results
2020-05-07 11:00 ET
Youdao to Report First Quarter 2020 Financial Results on May 19
2020-04-29 11:00 ET
Youdao Filed 2019 Annual Report on Form 20-F
2020-02-26 23:00 ET
Youdao Reports Fourth Quarter and Fiscal Year 2019 Unaudited Financial Results
2020-02-18 12:00 ET
Youdao to Report Fourth Quarter and Fiscal Year 2019 Financial Results on February 26
2019-11-20 23:00 ET
Youdao Reports Third Quarter 2019 Unaudited Financial Results
2019-11-05 12:00 ET
Youdao to Report Third Quarter 2019 Financial Results on November 20
2019-10-29 20:10 ET
Youdao, Inc. Announces Closing of Initial Public Offering and Concurrent Private Placement

SEC forms

Show financial reports only

SEC form 6
2024-02-29 06:20 ET
Youdao published news for 2023 q4
SEC form 6
2024-02-29 06:20 ET
Youdao reported for 2023 q4
SEC form 6
2023-11-17 06:13 ET
Youdao published news for 2023 q3
SEC form 6
2023-11-16 06:16 ET
Youdao reported for 2023 q3
SEC form 6
2023-08-24 07:39 ET
Youdao reported for 2023 q2
SEC form 6
2023-05-25 06:01 ET
Youdao published news for 2023 q1
SEC form 6
2023-04-27 09:14 ET
Youdao published news for 2023 q1
SEC form 6
2023-04-27 06:41 ET
Youdao published news for 2023 q1
SEC form 6
2023-04-25 06:14 ET
Youdao published news for 2023 q1
SEC form 6
2023-02-23 08:08 ET
Youdao reported for 2022 q4
SEC form 6
2022-11-30 06:23 ET
Youdao published news for 2022 q3
SEC form 6
2022-11-17 06:34 ET
Youdao published news for 2022 q3
SEC form 6
2022-11-03 06:52 ET
Youdao published news for 2022 q3
SEC form 6
2022-08-18 06:23 ET
Youdao published news for 2022 q2
SEC form 6
2022-05-24 06:53 ET
Youdao published news for 2022 q1
SEC form 6
2022-04-28 17:15 ET
Youdao published news for 2022 q1
SEC form 6
2022-04-28 16:21 ET
Youdao published news for 2022 q1
SEC form 6
2022-02-24 06:05 ET
Youdao published news for 2021 q4
SEC form 6
2021-11-17 16:31 ET
Youdao published news for 2021 q3
SEC form 6
2021-11-16 06:24 ET
Youdao published news for 2021 q3
SEC form 6
2021-11-01 06:05 ET
Youdao published news for 2021 q3
SEC form 6
2021-09-30 08:19 ET
Youdao published news for 2021 q2
SEC form 6
2021-08-31 07:01 ET
Youdao published news for 2021 q2
SEC form 6
2021-08-19 07:49 ET
Youdao published news for 2021 q2
SEC form 6
2021-07-26 06:32 ET
Youdao published news for 2021 q2
SEC form 6
2021-05-18 07:18 ET
Youdao published news for 2021 q1
SEC form 6
2021-04-28 09:14 ET
Youdao published news for 2021 q1
SEC form 6
2021-04-28 08:23 ET
Youdao published news for 2021 q1
SEC form 6
2021-02-25 06:02 ET
Youdao published news for 2020 q4
SEC form 6
2021-02-16 16:01 ET
Youdao published news for 2020 q4
SEC form 6
2021-02-11 08:20 ET
Youdao published news for 2020 q4
SEC form 6
2021-02-11 07:28 ET
Youdao published news for 2020 q4
SEC form 6
2021-02-10 09:47 ET
Youdao published news for 2020 q4
SEC form 6
2021-02-10 06:31 ET
Youdao published news for 2020 q4
SEC form 6
2020-11-19 06:21 ET
Youdao published news for 2020 q3
SEC form 6
2020-11-18 06:03 ET
Youdao published news for 2020 q3